What is Passive Income?
So you've started reading this article and I am sure your are searching for some ideas- ways to generate some additional income with little investment of time and effort on your part. So you are in the right place.
Basically Passive Income is a type of income that doesn't need your active involvement. That typically means that you can continue to make income with no or very little effort to maintain that cash flow. In this article we are going to lump passive income and portfolio income into the passive category.
Passive Income would be very appealing if you really understand the benefits. Typically when a person needs extra income, he gets the stereotypical suggestion to "start a part time job." But What if you don't have the time or energy to put in all those extra hours? I know, I didn't. Moreover that was not appealing enough to making money without needing to trade my time.
Here's a list of some passive income ideas that you can start right now. So it's likely you'll be able to find at least two or three suitable match that cater to your situation and skill.
Lets Get Started...
1. Sell An Ebook
This is the much loved model for the bloggers and the content creators. Its really easy to write a 60-70 page e-book, not hard to sell say $500 worth a month through online networking, guest posting and your own SEO optimized blog, and well you get to keep a large whack of the pie after paying affiliates.
"Nathan Barry made $12000 from ebook income in 24 hours" This worth a good read to get the real picture.
2. Create a Blog and Earn By Affiliate Marketing
Its one of the easiest way of earning passive income online. It's Even easier than writing an e-book because all you need to concentrate on the quality content pumping in your site with the affiliate links. Doing some seo stuffs you can get enormous traffic. And Once you've traffic you income is confirmed. One of the main benefit of this income is that you can earn large amount income with this method. A lot of people has taken this type of income as their main source of income.
3. Create an online course with membership
You can create your own online course website. This way is getting popular recently. With this website you can offer some video courses. Visitor can participate those course with active membership. This can be a good passive income for you.
4. Make Youtube Video
This is a venture that is growoing rapidly. You can create your video on any area like- tutorials, comedy, movie reviews, music - anything you want... then put them on Youtube. You can then attache google Adsense to those videos. Which will generate a smart income for you.
The key to get success is to create engaging videos.
5. Build An Ecommerce Website, Sell Your Own Product
This idea is for those who want some serious passive income online. If you have your own products then it's the most appropriate method of passive income for you. you can also get products from different source. In this method there can be a fair bit of work on an ongoing basis. But if you can automate as much as possible then you can get it down to just a few hours a week. Check this book for more ideas about Ecommerce business & strategies.
6. Create a Comparison site
This is a fantastic idea to build some trusted customer group and generate income. In this method you can build an website and compare products and offers from multiple popular sites. Conversion rate with this kind of site is too high. Though at the starting you need give some significant amount of time to automate the process. And If successfully automated it can be great source of passive income for you.
7. Sell Stock Photos
Did you really ever think where your favorite websites, blogs, and someone even magazines get their photos? These are basically bought from stock photo websites. If you are a passionate photographer you can submit your photos to those sites and get commission from each sell. You can get some great resources online regarding the process of monetizing your photography passion. Just get the basic & start now.
8. Create A Lead Capture Website
You can make $1000 with this method easily. Think simple Google-friendly content site with a high converting inquiry form for capturing details (maybe even a free report attached to that or something else to boost conversion)
9. Build an IOS/Android App
This days app building is not a rocket science. A lot of successful apps are a easy found in recent past. Generating Money with apps can have a huge scale. Just gamify your idea before developing the app. You can follow some successful app and this is the easy way of getting successful.
10. Automated Email Marketing
Yes this is one of the smartest way of earning passive income. You need a website with subscription form and an automated email service. Now a days a lot of paid/free email services are there to meet your requirements. If you can design your email workflow with the catchy offers and can send significant amount of inboxed mail then your income is a must.