One of the most common search questions on the Internet these days, especially since inflation has settled in with a bang, is how to generate more income, particularly passive income. Most everyone is working a fulltime job, multiple jobs, a fulltime job and a hustle, and everything in between. So, being able to generate more income without having to actively earn during same one is working already makes a whole lot of sense. The Internet has obviously made the potential to earn a lot easier, especially from the comfort of one's home even while sleeping. But folks still need some details on exactly how to do it.
There are several easy-to-do ideas for generating passive income on the internet. Here are a few options:
Affiliate Marketing: Promote products or services through affiliate links on your website, blog, or social media platforms. You earn a commission for every sale or lead generated through your referral. Of course, this means you need to know how to make a website, produce one that is popular, and you're able to keep generating traffic to it. In short, it's a bit harder than just reading that first sentence.
Create an Online Course: If you have expertise in a particular field, you can create and sell online courses. Platforms like Udemy, Teachable, and Skillshare provide tools to host and market your course. This sort of works but it's not going to pay the rent. Most courses sell for $1-5 at best, and it's still hard to sell a course when most people can learn something for free on YouTube or similar.
E-commerce: Set up an online store and sell products. You can utilize dropshipping, where you don't need to hold inventory, or create and sell your own products. The trick here is an old economic lesson; find stuff to sell cheap and sell it for a higher price. It's not really a passive option; selling takes a lot of work finding, marketing, selling, accounting and shipping.
Publish eBooks: Write and publish eBooks on platforms like Amazon Kindle Direct Publishing. With a good marketing strategy, your books can generate passive income over time. If you can write well, you can sell your work again again online. This idea actually makes a lot of sense, but there's still work involved with writing.
Develop Mobile Apps: If you have coding skills, create mobile apps and monetize them through in-app purchases, advertisements, or paid downloads. If you know how to code, this one is a no-brainer, especially for mobile apps.
Stock Photography: If you enjoy photography, sell your images on stock photography websites like Shutterstock, iStock, or Adobe Stock. Every time someone purchases your photo, you earn a royalty. Long-term this option can earn income, but don't expect any immediate results. Most experts will point out you need to be good, really good, and build a lot of inventory to create a reaction. The results maybe generate about $100-500 a month on an active account.
Rent Out Your Property or Space: Utilize platforms like Airbnb or VRBO to rent out your spare room, apartment, or vacation property. Kind of speaks for itself.
Create a Membership Site: Build a website or online community where members pay a recurring fee for exclusive access to premium content, courses, or services. Porn sites are really good for this, but don't expect to be invited to anyone's Christmas party afterwards.
Peer-to-Peer Lending: Platforms like LendingClub or Prosper allow you to lend money to individuals or businesses and earn interest on your investment. This one is high risk. I personally did this for a few years and basically broke even between gains and losses from people running off on their debts. I wouldn't suggest it except for some side risk.
Create a YouTube Channel: Create engaging video content on a niche topic, gain subscribers, and monetize your channel through advertising, sponsorships, or merchandise sales. Just note that you need to have a sizable following before YouTube starts paying you. The last rate was at least a 1,000 unique viewers and 4,000 hours of viewing minimum
Remember, while these ideas have the potential for passive income, you'll still need to work some hours for startup effort, marketing, and ongoing maintenance to succeed. Nothing comes free, ever.
