Had enough of getting up at the crack of dawn to go to work? Maybe the idea of earning some passive income sounds attractive, right? Passive income means an income stream that needs little or no maintenance once it’s started coming in.
Make no mistake, you’ll need to put in serious time, money and effort to research and then set up your online passive income project. However, there is plenty of good advice out there to help guide you, such as chrisscantell.com. Once you’re done there, learn these five ways for earning a decent passive income online:
1. Produce Your Own YouTube Videos
There’s a wide range of subjects you could make videos about: from tutorials to music reviews. Make them short, snappy, and engaging. Imagine you’re telling a friend about a subject you feel passionate about, and make your presentation as interesting as possible.
Once you’ve shot the videos, just attach Google AdSense to them, which overlays your videos automatically with ads. You earn money from the ads via AdSense whenever viewers click on them.
So how do people find out about your great new videos? By promoting them on social media. Remember, you’ll need to shoot more than one video so that you have income coming in from multiple sources.
2. Use Affiliate Marketing
Have a blog or active website? Affiliate marketing could be just right for you. Agree to promote certain products or sites on your website or blog, and receive either a flat fee or a percentage of completed sales. To find affiliate offers, contact vendors directly or research specialist sites such as ClickBank. Only sign up with products or services that align with your particular interests and values. You want to work with others that make sense for your website.
3. Sell Your Photography
Many photography sites such as Shutterstock offer you either a flat fee or a percentage of each of your photos sold on their site. Think about it – one of your photos could be sold over and over again.
You’ll need to create a portfolio of good-quality photos, and then put them on several photo platforms. Once you do, watch as the money starts to come in.
4. Set Up An Online Business
Maybe you’ve perfected a new invention which you can manufacture yourself. Or you want to sell digital kit including DVDs or even instructional videos. If you have a website or blog already set up, you’re good to go. Otherwise, you’ll need one specially created. Alternatively, you can offer your product to sellers on an affiliate basis, via websites or blogs tied into your product or service. Or use ClickBank.
5. Buy A Blog With Decent Web Traffic
Thousands of blogs are created every year and abandoned. Do your research and find a blog with regular visitors and proven cash flow, and you could have a nice little earner. Most blogs use Google AdSense which can provide a monthly income stream via ads that Google places on your site. This, plus affiliate programs, can generate extra revenue for you.
If a site produces $250 a month in income, you could buy it for no more than $3000. Paying out $3000 will give you $1,500 a year in cash flow. Handy, huh?
Ready to ditch the 9 to 5? Before you start, decide how much time, money and effort you are willing to invest in making your passive income project a success. There may be months at the start when you don’t have much to show, but persevere and the money will roll in.