Make money || Make passive income
When you are doing a job , you have to keep on doing it , in order to gain the monetary benefits ,ie income . Once you stop doing the job due to any reasons or circumstances, your income also stops , because that job was your only source of income .A job is not a source of passive income . A passive income is the income you obtain without putting any direct effort on it . For example: different types of businesses . They need an initial effort ,but one it is set up properly then there will be a very less need for direct involvement or effort by the one who runs the business. An average millionaire has atleast 7 passive income sources . In this article , we will be discussing such 7 ways and you can do most of them even without any initial money investment.
1. Selling digital products on Etsy :
Etsy is a popular marketplace for selling vintage products and handicrafts items online on a global level . In Etsy you can also sell digital products. This method of sale through Etsy is recently getting more popular . Digital products are basically digital templates that can be downloaded and used . The main advantage of digital products is that you only have to make it once. You can sell it forever . What you need is that one time effort to create the product . Now , how can you create it ??
You can create it either using designing software like Adobe Photoshop from the scratch or using the preset templates in Canva and changing it according to your creativity and the purpose of the product. After that you can sell it in Etsy or in similar websites like Etsy . As I said earlier this is a way of earning through one time effort.
2. Blogging + Affiliate Marketing:
Blogging is a very popular way of content creation . A lot of people are coming into the blogging industry in the thought of making it full time but there only less people that became successful when in comes to making money through blogging . It is mostly due to the reliance of Google ads and sponsorships only and also due to poor optimisation of the blog content .
Optimisation is very important. If not earning money through blogging is very hard.
So without reliance in ads and sponsorships you can use Affiliate Marketing for revenue. Whenever you talk about a topic in your blogpost and there is a product related to the blogpost , use the affiliate link of that product in that blogpost. For example, if you are talking about budget friendly laptops in the blogpost , put the affiliate link of the products in the blogpost . You will receive a commission of 5 - 20 percentage. Sometimes you will receive even 50% . When people read your post and get interested in the products,they will use the link you provided . If you are promoting a high paying product that can get you a high commission, then an average website traffic is enough .
3 . Earning dividend income from stocks and mutual funds :
In this method you don't need any effort . What you need is some money to invest . First you should know what high yielding stocks are . They are stocks whose dividend yield is higher than any benchmark . Dividend is the part of the profit a company generates .So when you invest in a stock , you are buying the share ,this becoming the owner of the share .So you will receive the percentage of profit from your investment from the total profit . The investment value will increase year by year , so does the dividend value and dividend yield.
If you don't know to chose the best stocks , you can go for dividend Mutual Funds .
4. Sell your notes :
Best method to earn money for students who undergone ( or are undergoing) training for competitive examinations .You can sell your study notes on websites like Studypool , Nexus , Stuvia etc . Everytime someone downloads and uses your notes , you will get paid . It could be of any subjects .
Another method of selling notes is by compiling your handwritten notes in a PDF format and selling it Amazon as an E-book.
5. Selling stock photos and videos:
This is also another notable ' one time effort' needed method of earning money. But you need a lot of creativity and patience. As we know ,there are a lot of people interested in photography. But they can't afford high quality DSLR cameras . Don't worry . You don't need one .If you have one , its better and that's all. You only need a good smartphone with a decent camera . You can capture these photos and sell it in websites like Adobe stock, Shutterstock , 500 Px etc . . These websites have a lot of visitors and downloaders .You will get paid for each download of your picture . Payment will be based on the website used ,the price you sell the pictures for and your photography skills. Downloaders always want photos of specific scenarios . So research well about the category they need and upload related photos .
6. Selling your courses : The one of the best ways to make money and it need effort proportional to it . You need two things in order to do it , one is effort and the other one is knowledge. If you have knowledgeable and have enough grit to put in that work , then you just need a little setup at your own home , a smartphone with a decent camera and a decent microphone. You can create videos related to it and sell it in your own website or any other websites. If you are not interested in doing video courses , you can do it in the form of E-books and sell it on Amazon .
7. Content creation : One of the most popular , yet the toughest form of making passive income. It is still an amazing method . Content creation in itself is not a way of passive income , because you constantly have to give out fresh content .As you know , you can do this in popular platforms like YouTube , Instagram , TikTok , LinkedIn etc. You can build a huge audience through it . The other advantage of content creation is that you can build other sources of passive income from it once you have build up some audience. You will be paid through ad revenue mainly . But you can utilise other methods like Affiliate Marketing, selling your courses etc . to monetize your content even in a better way and thus making passive income.
It is never easy to make money . If you work hard enough, I am sure these methods will work for you too . So if you liked the article let me know on the comments
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Have a beautiful day
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