5 Different Passive Income Ideas

passive incomesIf you are looking for a way to make money that leaves you plenty of time to enjoy life and look after your family, you need passive income to develop multiple income streams. What people define as passive income varies, however, it does not mean making money without any work.  The idea you can do this is a myth.

In most cases, passive income refers to making money in a way that does not require your ongoing, direct involvement. It refers to a business that takes time to set up, but, after a while, requires very little, if any, work to continue making money. The internet offers you several ways to do this from home, or really anywhere!

 

1. Sell Affiliate Products on Your Website or Blog

Selling products on behalf of other people is the most popular way to make a passive income. You start by choosing a product to sell. For each item you sell, you receive a percentage of the sale price, or other commission.

All you need to do is to post advertisements for the products you are selling.  You can do this in several ways on the web.  The most popular way is to set up a blog or website that is related to the product you are selling.  The content on the site or blog is designed to encourage people to buy the products you are acting as an affiliate for.  Included on the site, or blog are links to the buying pages of the products you are selling.  When someone clicks on that link and actually buys, you get paid.

It is possible to make money using free blog networks like Blogger and WordPress. There are some restrictions, but it is still a legitimate way to get started generating a passive income for yourself.

 

2. Sell Affiliate Products Via Revenue Sharing Websites

You do not need a website or blog to sell affiliate products. You can add links on pages you create on user content generated websites like Squidoo, eHow and HubPages. This is a popular option for people who are on a limited income, because you can get started selling affiliate products without having to buy a domain name or pay for hosting.

You can also sell affiliate products using links embedded in articles, which you submit to article directories. However, this is not as easy as it once was. There are less article directories around and a lot of them no longer allow you to include affiliate links in your articles.

 

3. Write an E-book

If you are good at writing, you can earn money by writing your own books. It is best to write about a subject you know well. The book does not have to be long. The same book can be sold in several different ways on-line. You can sell them through on-line bookshops like BarnesAndNoble, Borders and BookBaby. Amazon and Clickbank are both good places to sell E-books. You can, also, post your books on sites like Fiverr and Zeerk.

In most cases, it is free to list your books on these sites. However, if you sell one of your books you have to pay a percentage of the sale price to the site you are selling it via.

 

4. Sell Your Own Apps and Software

If you are a programmer, it is possible to make money selling your own software. Even if you are not yet a programmer, learning computer coding is possible. It takes time, but there is growing demand for this skill.

An even easier way to get started is to build apps for smart phones. Again, you can learn how to do this yourself or invest a little money in getting someone to build your App for you.

 

5. Build and Sell Your Own Courses

If you have a skill or knowledge you think you can sell consider doing so on-line. You can put together a simple course to show people how to do everything from invest in stocks and shares to making their own clothes, or teach craft skills.

You can put your course together in several ways. Videos and pod-casts are very popular, but PDFs sell well too.  With the right type of course you can build a membership site. For example, if you want to teach Spanish you can ask people to pay you a monthly fee to gain access to your website and learning materials.

 

Other Ways to Make a Passive Income

These are just some of the ways you can generate a passive income. There are many other ways including, selling photos on-line, selling articles and blogs, selling what you write as PLR packages, setting up and running a drop-shipping site and many other ways.

However, do not overlook off-line paths to making a passive income. Putting together a good share portfolio or building up a good pension plan can both generate a good long-term passive income for you. Renting out property is another off-line way to do it, if you have money to invest.

 

Article written by Agnese Geka – blogger and online marketing consultant for SurveyCompare.net which is an online guide for the best paid survey companies offering to earn money and rewards by sharing opinions.

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Comments

  1. Nice list – and those ideas are just the start too. There’s also online advertising (both through a network like AdSense or privately), sponsored posts/tweets, and others depending on your site’s topic!

    Thomas

  2. Affiliate ads are where I am trying to head. I want to make “how-to” videos and help people learn how to use the products before they even buy them. And a lot of them are “free” products, so it should be an attractive ad.

    • I love commissions on free products – they are easy to sell. The only problem with them are the commissions are usually very low, so you need quantity.

  3. My passive income strategy is built upon dividend investments.

  4. well, I’ve been struggling to earn a little extra cash – one of my resources – AdSense – dumped my blog – they never did explain why – I did a search and found a lot of bloggers out there who experienced the same thing after their blogs began earning over $100USD monthly…
    I just uploaded a post concerning the practice of blogging about one’s “blog income” ::: I invite you and your readers to come by and offer a little pushback.

  5. Sites like Prosper and Lending Club might be a great way for people to make passive income. I’ve begun to use them (in a small way) but will likely do so far more in the future. Here’s a bit on my experience with LC.

    http://livetheneweconomy.com/blog/2012/7/27/lending-club-first-month-review.html

    Great post!

  6. I’m trying my hand at writing articles on revenue sharing websites. I have discovered that the amount you earn very much depends on what you write about and how heavy you are willing to promote your work.

  7. I have heard a lot of good stories from bloggers who sell products on their blogs. I have been trying to do so but sadly, it does not work for me. I guess selling is really not my forte, or it is only one way of saying that I should stick to writing and ghostwriting for other bloggers.

  8. its great to discuss passive income, however do not be fooled that it is easy to build. generating traffic is still the dark art to wealth online.

  9. I agree morgan bradshaw, It’s hard work and takes a lot of time. Passive is something different but the time and effort is worth it!

  10. Very good list here. Affiliate advertising as proved to be a viable way to generate passive income online.

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