If you have found this website, the chances are you are looking for ways to make money from your website or blog, and to create a passive income. Well my dear, you have come to the right place! Having multiple passive income streams is a great idea! It’s never a good idea to have all your eggs in once basket, and having a passive income can give you extra financial security.
First of all lets just get one thing straight. Passive income DOES require some work upfront (unfortunately there is no magic way to get money without doing ANY work at all!) But the thing about passive income is, once you have put in the initial hard work, the income source should continue to bring you revenue with little to no maintenence. There are lots of ways to create a passive income, but here are a few you can get started on right now.
Start a Blog
Starting a blog is such a great way to earn passive income, while sharing something you are passionate about! Once you have steady traffic, there are a few ways you can make passive income from your blog. Some of the main ways people make money from their blogs are:
- Selling advertising space directly to business in the blog side bar.
- Google adsense – you get paid per click
- Affiliate sales (recommending products to your readers and receiving a commission on sale)
People also make money from their blogs by being paid for writing sponsored content for advertisers. Although this can be good income, I don’t consider this to be passive, as a lot of work goes into writing content, and you might only get paid once for this.
All niches of blogs have potential to make a good income, so choose something you are passionate about. As long as you love what you are writing about it won’t ever seem like a chore!
Sell Stock Photos
Etsy and creative market are both great places to sell any digital products you create. Stock photos are a really great product for you to create and sell. All you need to get started is a good digital camera and some basic photo editing skills. Once you have created the photography that you want to sell, you simply upload it to etsy or creative market as a downloadable product, and that’s it! If people like your stock photo they can buy it, it will download to them automatically, and you will get paid! The great thing about this is once you have the products listed you don’t need to do anything else, it’s so simple. You can easily build on this as well, adding products whenever you have some free time. This can earn you a very nice little side income!
Write an E-book
This is a great one for recurring passive income. Whether it’s a recipe book, guide book for tourists, novel or a ‘how to’ guide, if you are good at writing this could be a great option for you! If you suck at writing though don’t fret- you can always hire a copywriter on people per hour or fiver.com. In short- you would need to invest either your time or your money upfront. But once the product is created you have a digital product that you can sell over and over again. You can sell it as a downloadable item from your blog, or you could sell it in the amazon kindle store, either way, you can set up systems so the products is sent to your buyers automatically.
Create an Online Course
If there’s a subject you know a lot about, then you can teach a course on it. Don’t worry if you’re not an expert- you only need to be better than someone else to teach a beginner course! Some examples of courses to could teach are:
- Languages
- Cookery
- Art
- Writing
- Social media marketing
Of course there are lots more subjects you could teach people about! Teachable and Udemy are great online platforms for your to host and run your course’s on. Using a platform like one of these means that literally anyone can create and run a course online. The beauty of this is that once you have created the course, it can be downloaded over and over again, letting you create a nice passive income stream. Lovely!
Sell products on Zazzle Society6
If you are creative and artistic, you can upload your own artwork and designs to sites like society6 or zazzle! These websites sell physical products like mugs and cushions with different designs on them from various artists and designers. All you have to do is upload your designs to their website, and they will do the rest. If a product is sold with one of your designs on it, you will receive a percentage of the sale. The company will do all the printing, packaging and post it to the buyer, so no hassle for you- yay!
Create a membership site
This is a little more complicated, but after the initial work is done, it’s a great way to generate a passive income! Membership websites can be created in any niche- here are a few examples:
- Membership site for bloggers to network
- Local Business networking
- Passions: Gardening/pets/sports fans
- Online Communities where people can get together and talk about a shared passion ed. gaming
- Yoga tutorials
- Music Lessons
The basic principle of this is that members pay for access to restricted material. Once the member has paid the fee, they will have access to a community or library of information. Depending on your subject and following, membership sites can be highly lucrative. For example: If you have 100 members each paying £30 per month for access to your content, that would be £3000 per month in recurring revenue! You simply need to have high quality content, and a personality that people like, trust and want to buy from!