Passive Income Ideas you can start today! “Make money while you sleep” has a great ring to it right? Who doesn’t want earn a little money on the side?
If you are willing to commit your time and resources to these Ideas below then you are sure start creating passive income.
What is Passive Income?
To be clear, passive income is not a get rich quick scheme. You have to put work into it. The great part though is, you put hard work into it in the beginning and then sit back and receive your harvest after.
Alright let’s get to it:
1. Amazon Affiliate or FBA
1) Amazon Affiliate can become amazing passive incomes. Amazon Affiliates can be extremely passive if it’s set up right. Create a review blog website and link to Amazon products to get a percentage for every sale made.
2) Amazon FBA, you ship products to Amazon and they promote it on their platform, package and ship the product for you! We have a FREE Amazon FBA Intro Course to get you started. If you live in any of the Amazon FBA operated countries its a serious option to consider. That would include: USA, Canada, UK, Japan and Europe.
If you don’t live in any of these you might still be able to sign up with the Amazon Business Abroad option. Check if your country has this option available.
In the Intro course we go over some ways to start Amazon FBA, your end goal would be to sell your own brand, white label products that you can add your brand on. Creating a Brand registry with Amazon and this will help with competition and setting your brand apart from others.
Pros and Cons
Amazon has over 450+ million products available world wide, and makes an amazing $92 Billion in 1st Party manufacturer sales. Start creating your online income, we have more posts about how to start your Amazon FBA, and What to Sell on Amazon FBA
2. Sell an E-book
This is the much loved model for content creators and bloggers, and that is for a good reason, its pretty easy to write a 70-80 page book.
The thing to be careful of is the pricing and niche. Watch for target audiences that will barley pay 5 dollars for an ebook. The best way to sell books can also be on Amazon as a kindle version, or ibooks.
Make sure your book is under $10 as this seems to be the best price to get most buyers from Amazon or Apple.
Pick a passion of yours and sell it for your following. Make sure to give value to the readers.
3. Create a Blog/ Affiliate Marketing
This is also loved by creators and bloggers. Create a website with high value content. Giving away free content to your followers and it will grow in popularity. Share Affiliate links or link to your Amazon FBA to get Amazon Affiliate sales and FBA sales!
Blogs are really passive but you have to put in at least 6 months of work first. Create lots of content posts and then network and guest posting to grow your reach online. Its not simple but if you commit to it its very possibly!
4. Create Comparison Sites
This is a great idea but I also have to confess that I have never made any income on this setup. Find a niche with lots of products available, preferably a niche with tons of products where a customer would say “I have no idea what to buy”. Then create a site that shares great content, how to’s, review an etc.
Then create a comparison table page, where you have every product listed and rated with all the features beside it. Customers can finally decide what product is the best fit for them. Those then link to Affiliate links (Amazon)
5. Rental Property
This can be an amazing opportunity, but needs a little more starting capital. I myself was blessed enough to be able to buy a condo at the right time. Rent is out for more than my mortgage costs and make passive money.
Again, hard work had to be done first. Big upfront down payment. Renovations, which can be placed onto the mortgage after and lots of time. Once all is completed and you have found good, reliable tenants you are set to go! You can easily make $300 to even $800 profit per month.
If you have multiple properties these number can add up nicely! Downside and risk for rental properties are tenants and vacancy. Tenants can cause more harm then good sometimes, therefore be very careful who you let into your rental. Vacancy can cause problems if you have multiple units and they become empty. You still have to pay your mortgage payments and then you are on the hook the payments.
6. YouTube Channel
YouTube is the second biggest search engine. Its probably easier to get views on youtube than visitors to you website. You could even use youtube to get more visitors to your website.
Start a vlog, review channel or diy channel with your passion. Give out value to your viewers and help them with something that solves problems. Once you build your subscribers, monetize your channel and receive money passive!
Also you can use your channel to promote your blog, niche websites, or your online store! Great potential with Youtube.
7. Upwork or Fiverr
This is more of a semi passive option as you do have to put work in per gig. Are you good a writing content? graphic design, logo design, translations, marketing or photo editing? Fiverr or Upwork has so many opportunities for you!
I hired a content writer for one of my blogs in the past, its a great way to pump out content quick. If you love writing content then this would be a great opportunity!
8. Buy an Online Business
Buy a ready made online store and just pocket cash! Sounds to good to be true right? There is a ton of online stores and businesses for sale everywhere. Shopify dropshipping store, Amazon stores and niche stores. The catch is, some of these just look good in the front end but have been created quickly with fake traffic and google traffic. Google can quickly catch on to these and penalize these websites from organic searches and traffic.
Although it is said to be much easier to adopt than to give birth, meaning that its easier to keep something moving then to try and get it moving in the first place. Do your research before purchasing any stores. Check Shopify exchange, flippa or other related sites that sell online businesses.
9. Print On Demand- Online Store
This can be extremely profitable. Niche is key here, you into pets, outdoors, political, computers, or virtually any niche. You can excel here.
Get hoody, tshirt, mugs, pillows and much more custom printed! Print per order and have the company thats printing your order ship the product right to the customer. If you set this up right this can become very passive. Check out Printify or tspring and many others.
10. Sell Courses Online
In the past couple years a lot of people have been jumping on this train. This will be a lot of work, hours spend creating content video and editing. A proper platform needs to be used to host as well if you want to host yourself. Or better yet, sign up with Udemy and create awesome courses there!
Once you create a course that give our value and teaches something you can sit back and earn your money. Again, lots of work has to be put into this but if you a re somebody that loves to teach this might be right up your valley.
Well, if you got this far, congrats! You may have noticed the phrase, “give value” a lot here. That’s because value will be something that is absolute crucial to making this work. It is important that you pick something you are passionate about and give value to your followers. I have done the mistake once and just picked a niche that I thought was profitable but I had no passion for it. My motivation died quickly for… pick something that you are passionate about!
If you have any questions regarding any of these ideas comment below!