Creative ways to earn passive income
Lately, the term passive income has been heard from everywhere: ads on Google, Facebook and YouTube promise users instant riches, and Instagram Influencers talk about new and new strategies for earning passive income. However, the truth is that such techniques are lightning fast becoming obsolete. Yes, when they hear about the possibility of a quick fabulous income, many people immediately imagine that they will get rich in an instant, live luxuriously somewhere on the islands and drink cocktails on the beach, watching the amount of money in their pockets grow. In reality, while there are many sources of passive income that actually work, over 95% of people fail. In this article we will look at creative ways to earn passive income.
Many people lack the knowledge of internet marketing to succeed in the passive income field. When creating a digital business to earn passive income, users are usually involved in selling products or services:
- Own products (e-commerce). For example, selling a book.
- Other people’s products or services (affiliate marketing). An example is making money by referring users to buy products, such as VPN services. The second example is earning money by attracting users to earn money on paid survey sites.
- Own time (coaching and consulting).
You must understand the key principles you must follow (regardless of what you sell) to make money online. Now we’ll name a few examples of creative passive income options that might be of interest to you.
Creating a blog (online business)
Blogging is just that, a passive type of online business, where you earn from three sources of income:
- Affiliate income: the commissions you earn when readers click on one of your affiliate links and make a product purchase from the company.
- Digital product sales: paid infoproducts that are downloadable and do not require physical delivery.
- Advertising revenue: Google ads with a monthly payout.
The last few years have seen major advances in remote education. And since social distance and e-learning are growing rapidly, now is a great time to create and sell online courses. This passive income option follows the same launch, growth and monetization principles as the blog creation option, but relies on online courses as your primary monetization strategy. If you have deep useful knowledge to share, people will listen to you and pay for your recommendations. To start creating an online course – all you need is a good background in the topic you’re interested in.
This passive income option depends on following the steps above to create a successful blog. As you plan your content strategy, think about high-paying affiliate programs that you could be a part of.