Having multiple sources of passive income either online or offline has been a keen interest in every business idea, it require an upfront investment and a lot of commitment in the beginning. After some time and hard work, these incomes start to build and are able to maintain themselves, bringing you consistent profit without much effort on your part.
Clearly, it’s hard to generate passive income as it requires a steady investment of a significant amount and time, usually with little to no returns for certain periods. One can go for months or even years without a penny generated from the passive income activities, making even the most astute entrepreneur shake their head in sheer and utter frustration.
You just need to know where to start and decide what resources you’re willing to expend for your passive income ideas to take flight. Because once the income start yielding, you continue get paid over and over again for work that you did once.
It is pertinent to bear in mind that there’s no magic trick that turns your time directly into money. Instead, you plant seeds so your money will grow, so that while you’re sleeping or relaxing the money will still be recurring itself, But before I go to that, I would like to remind you that earning passive income takes a good amount of time, effort and even money.
Top 9 Online Passive Income Business ideas
I know many multiple income streams that are passive, but in this article I will be revealing Best 9 profitable online passive income ideas that you can start right now.
The best way to earn a passive income is by starting your own blog. It only takes a couple of minutes to set up a WordPress blog, just purchase your domain name and pay for hosting. If you have some knowledge, skill, or interest that you would like to share with others, then consider starting a blog. Blogs can generate a tremendous amount of income, but not quickly. If you plan to start a blog, understand that it’s going to take a vast amount of work and time to succeed.
Regardless of your niche, as long as you have a clear understanding of things like social media marketing, SEO, and the ability to write high-value content, then you will succeed with a blog. When your blog starts generating huge traffic consistently, you can monetize your blog with Adsense, Affiliate Marketing, and by selling ad space as this will continue to generate passive income for you.
2. Online courses
If you are the kind that is good at tutoring or has knowledge in specialized areas? Then you can earn money by teaching people around the world. Basically, all you have to do is to create an online video course and you will get paid every time a student purchases your course. Online learning and teaching marketplaces like Udemy, Coursera, and even YouTube.
Online courses help people learn new skills, advance their careers, and explore their hobbies so sharing your knowledge will help millions of people all over the world. It may take a lot of work to create and market your products, but once all the leg work is over, you can just set back and collect the proceeds.
3. Write and Publishing eBook
If you’re knowledgeable in a certain area, then you can start creating an ebook on that particular things and start selling them either on your blog or you can publish it on sites like Amazon Kindle, Okadabooks, Lulu.com, etc and start making money. It may take a lot of work to create and market your books, but once it starts manifesting, you can then sit back and collect the proceeds.
All you need do is to start writing something that people wants in the very best way you can.
4. Mobile Application and Game Development
With almost 5 billion mobile users in the world and the advent of Google Playstore, mobile app is a necessity for every phone users either android, iPhone or even Tablets. All you need to do is create an educative or entertainment app (i.e. games app, puzzle, quiz, or video streaming app) and upload it to Google Playstore (for Android users) or App Store (for ios users) and people start downloading. You can monetize it through upgrading, in-app purchase or by displaying Ads on the app and start making your money. As much as mobile usage continues to grow, this will always be an evergreen online passive income ideas that will continue to skyrocket over the years.
5. Affiliate Marketing
Affiliate marketing is one of the most intensive ways of making multiple passive income online. Though it may not be easy as said. To succeed at affiliate marketing, you need a huge traffic, big platform and audience. Many internet marketers are making money online by setting up affiliate niche websites and optimizing them for search engines. You too can set one up. Each time someone buys through your affiliate links, you will make a commission from the sale. This way, you continue to earn money selling products and services that you don’t own, effectively becoming like a broker while making your steady passive income.
6. Uploading Videos
Uploading videos to online streaming platforms like Youtube, Vinmo, is a great online passive income where you can earn Thousands and Millions. Many people are now making money by publishing entertaining or problem-solving videos online. You too can make money by simply uploading a video and getting paid per view. All you need to do is to record your Videos (either your Tutorial, Courses or any other benefiting ones) with your Mobile Phones or camcorder and upload to your Youtube Page.
You can as well direct your followers through a link from your group or page to your Youtube and also encourage them to subscribe and click to enjoy various packages. Youtube has emerged to become a very lucrative source of earning over the last few years without you paying anything. All you need is to sign in and make indications of making your account a commercial one by clicking on the required options for it.
7. Real Estate
Real estate is one of the easiest ways to earn passive income online. It has long been the source of passive income for ages. Investors and owners have dive to rent out homes, apartments, condos, and office space to generate steady monthly revenue. Obviously, it is a great source for generating some automatic income. However, the downside of it is that it requires huge capital. But if you have enough funds to invest, real estate is a very lucrative passive income business, you can certainly dive in by purchasing real estate to rent out to long-term tenants or you can try your hand at vacation rentals through sites like Airbnb or VRBO.
You can as well buy a piece of land, leave it for few years while its value appreciates and then sell it at a much higher price, or build a house or an office building and renting it out. This will continue generating passive income for as long as the property remains.
8. Sell Photos Online
Another source of passive income is to sell photos online by uploading pictures to photo-selling websites such as iStockPhoto and Shutter Stock to earn money while you sleep. If photography is your passion, then you can turn it into a source of income as there are a lot of sites on the internet that are in need of quality photos to make their content more appealing.
There’s a lot of competition when engaged in this line of work. However, if you have interest for photography, then selling your photos online should come almost naturally. All you need is to understand photography and things like Photoshop if you’re serious about succeeding in the business. Once someone use your photo on his or her website you continue get paid.
9. Stock Investing
Stocks Investing is great resource for generating passive income. investing in stock doesn’t mean you’ll have to sell the stock to generate that income. But, you will need to buy a significant amount of shares to reap a Steady revenue from whatever dividend stock you end up selecting. Stock investing requires practical knowledge and experience as any bad decisions made might result in loss in your investments rather than profits.
All you need to do is to make adequate research and due diligence on finding the right dividend stocks. You don’t need to know everything, but you do need a desire to learn and understand the stork market.
Hope you found the post useful and comprehensive!! If you have any questions or concerns, please let me know in the comments below! Don’t forget to share!
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