We live in a world of Internet Technologies which opens the door for many possibilities. It is on you to figure out those possibilities – to find them and act on them. Do not think that what I am about to write about is some autopilot mode that you simply put the money or little effort in the machine and let it run and generate passive income for you – THIS DOES NOT EXIST.
Before jumping in the cold water and saying what the hell I got myself into you should be aware that many online business, not just online but in general many businesses fail and people that are operating those fail to earn enough money to sustain themselves. Mostly this comes as a result of lack of knowledge in the space, lack of experience and where people were unable to properly estimate the situation.
Passive income by definition is passive, which means that money comes even if you don’t work or at least put some small effort now and then. But before you start you should be aware that instant gratification in business world does not exist which translates to that you won’t see instant results specially if you are just starting out. Mostly at the beginning is where you would have to combat your inner voice and inner you, to change your values and beliefs about the world which is not easy. Many people when they hear the word Passive Income they think about the fast cars, huge houses without any work. Then later on when they actually see that there actually needs to be some work done and that it is not something easy they give up or even worse give reasons against why they don’t want to start etc.
As with everything to earn money you need customers even by offering them your service or selling them something. The trick here is how to get them. Internet space is really fast and it is evolving I’d say like every 6months or a year. Which means something that has worked before does not mean it will work in the future. Which should put you in the position of long learning and always trying different things. Of course some basic principles stay the same but it is up to you to hunt and find new ways – always.
As I tell always don’t fall for people that make their story, maybe it is their story but it is like they were a total average person with no knowledge and no views of the future without any money and somehow over the short period of time they managed to earn 6-7 figures with less than a year and are now giving you the key to unlock the secrets if you buy their course. This does not work. Simply there is a ton of free information online and buying a single course will make money for the person and not you. What you lack of dear reader is something many people do – you lack of wiliness to go search, find and try different things until you “make it”.
Some Ideas….
Online Advertising
For this you will want to manage a website, a blog or anything else such as youtube channel that lets you to put AdSense on. However, you will definitely struggle at the beginning to find good traffic, simply research and try different things until you hit the jackpot. Some AdSense alternatives include: Media.net , Chitika , Amazon Associates
Affiliate Marketing - Promoting products of various companies
Check my last post to learn more about simple introduction into affiliate marketing and Cost Per Action.
Email Marketing
This is not like some people thing: Find email list online either by buying it or by finding it for free and simply send spam mails to those lists in hopes some people will interact with the offer you are trying to sell them. If you are doing this STOP it now. Nobody loves to be spammed, end of discussion. You could for instance create relevant email subscriptions for people to be updated on let’s say news from one niche, interesting articles etc. You could have your own blog here and let people that “know” you sign up on their will, as with this it is easier to convert those people and to sell them something. Within each mail don’t just try to send those people offers but provide value to the reader of your mail and simply include alongside some offer.
Sell eBooks
Writing book is not some huge demanding task, depending of what you are trying to write about. You could even start by rewriting things that are available, trust me there is everything on the internet and thus you can find everything you need. If you opt to rewrite things from blogs/other books make sure to include references and give your own opinion – don’t copy and paste.
What can you write about? You can write to educate the reader on a certain subject, you could write about your views, write about what you know, write about some story etc.
However, after you have written the book there comes another hard part and that is to drive traffic to where you are selling your eBook in order to boost sales.
The beauty of this is that you can put your book for instance on the amazon, see to market your book here and there but most importantly book is available to be sold out there. Which means you put it on the website and people might even buy it while you sleep! But don’t think that this is easy as there are many books out there with millions and millions more being listed every year it is not easy to break and get recognized out there for people to pick up and buy your book.
You can sell you book on your own websites, via forums, social media, amazon marketplace etc.
Sell Online Courses
If you enjoy writing books for instance you might enjoy making courses for people as well. I am sure that there is at least one skill that you know a lot about. If there isn’t any you can start to learn something and simply create a course about that subject when you’ve mastered, it in the future. Market for eLearning is huge and many people opt in to try and buy online courses in this internet ara that we live in.
Where to sell your courses: Udemy, Skillshare and Coursera are just some of the websites out there and there are more. These are a bit popular in my opinion.
Reselling items
You can go to the garage sales, or buy things for other people – bargain and try to get them for cheap price and later on list those on websites such as ebay to flip a profit. Another thing you could do is for instance buy items from aliexpress and reseal in ebay, many people do this already which could make this a bit harder to get into. As with to much competition prices slowly go down and the arbitrage might not be worth it, before starting with this or anything make sure to analyze!
DropShipping
This is also another popular thing to do where many people are doing it. But many starters GET IT WRONG and because of this they quit to early, because they see it a quick rich thingy. Basic idea of dropshipping is that you have your own ecom store and you deal with the supplier to ship the items. Which means you are kind of the middleman as your only job is to market your store and to sell items while the supplier will ship the products to the customer without the need for you to even touch the product that you are selling.
Again many people see it as it is easy to create an add then spam people with their Ads and simply earn commission when people buy items for you then you buy it from the supplier. Dropshipping is really amazing if you figure it out how it works and mostly you will have to go with try and error but if you succeed to get ball rolling you could automate your store and only create few ads here and there and work some small hours and pick the checks.
However, there are many people that want to earn from you from starting your store, as this article was not supposed to be only about dropshipping I cannot write everything here. Just be cautious who you trust for information out there.
Aside from making only ads it is a good idea to create a relation with customers via social media as this can boost sales and of course provide a bit of proof that your store is real deal.
Selling Photos / Images
Simmilar as with eBooks you can take your smartphone with you, YES your smartphone you don’t need some fancy camera to begin with this. Skills such as photo editing with photoshop might be required to tweak something in the photos.
Another thing is if you are a digital artist you could go and draw vector images, abstract images, or really anything that you like.
At the end of the day you want to post your photos on the marketplaces online such as shutterstock where other people can buy it and after they’ve bought you will receive money. It is a passive income as you simply put the photo on the marketplace try to do decent or professional SEO for the image and let it there until your photos sells. Apart from this you could try to figure other ways how to boost the sales by providing additional traffic you your photos….
Create a memebership website or a membership group chat etc…
Many websites have an area that is protected and only available to people who pay a certain amount of money once/monthly or even yearly. This works great if you succeed to build traffic to your website as people will see your content be happy about it and might yet be willing to see what is there behind the certain that is private section. After they buy access to your protected part of your website you will have to keep them occupied for them to stay and pay for the membership.
For group chats you could check platforms such as discord and telegram, as always creating traffic for these might be hard at the beginning.
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