Watch on YouTube
Since the invent of the Internet, remote work for corporations has become more popular and it’s only natural that taking an entrepreneurial route to making money from home would gain popularity too.
If you’re not familiar with what the term passive income means, it simply means that you create something once and you’re paid for that one thing over and over again.
If you want to start making making passive income online, you’ll want to have more than one stream of income. Each month your passive income may fluctuate and so the more streams of income you have the more financial security and income stability you’ll have.
One point to mention is that most products you create may generate passive income, but there is still other work that needs to be done in order to keep income coming in, but there are many tools to automate this work and you can reduce your time spent on tasks by utilizing software or outsourcing to a virtual assistant.
These are the most popular ways to make a passive income online and many people have found success with them, so let’s get to it.
1. Start a Blog
Yes, I know you’ve probably heard this one mentioned hundreds of times, but it’s one of the easiest ways to generate a passive income, and one of the cheapest. A lot of people go this route because it doesn’t take a lot of money upfront to get started and everyone has a story to tell, something they can teach, or even a lifestyle they can write about.
This is one of the jobs that you can start for as little as $3 a month, and depending on the amount of work that you put into it, it can generate five figure paychecks every month. You can sit back and be paid over and over again while your site gets traffic on autopilot and you’re paid from advertisements, affiliate marketing, or selling your products.
Once your blog is established, you have an email list, and steady traffic you could take a month off of work and your blog will still generate income while you are traveling the world, taking a cruise, or just relaxing and catching up some some Netflix shows you’ve missed.
I’m not saying it’ll be easy, and it’ll take a lot of work to get started and established, but if you stick with it from a business standpoint your return on investment will be worth it.
Start a blog in 3 easy steps:
- Get WordPress Hosting! WordPress is the most common blogging platform, all of the big guys use it, and you can get affordable WordPress hosting at SiteGround for less than $0.32 a day. No joke! I told you it’s affordable. If you purchase your hosting plan for a year, two, or three in advance, which I recommend, you’ll get a discount too. Hosting let’s you install WordPress and share your text, photos, videos, and audio to your followers.
- Get a custom domain! A domain is simply a website address e.g. www.mymoneymakingblog.com. You can get a domain at SiteGround but I recommend NameCheap since their domains are SO cheap and they offer free whois privacy protection, which simply means that no one can see your name, address, or phone number by searching your domain name.
- Start writing and sharing your story! You have hosting and a domain now get writing!
- After you publish your first article make sure you promote it so people can find you on the internet.
- Let people sign up to your e-mail list with MailerLite so you can stay connected and send them your latest articles, ideas, or deals.
- Get Tailwind and BoardBooster to get traffic from Pinterst. Pinterest is the traffic giver that just keeps on giving.
- Start adding Affiliate links to your blog posts with ShareASale or so you can earn money.
2. Sell an E-Book
Maybe you’ve been in the workforce for a decade and you specialize in a specific field or industry. Maybe you were working in customer service and you learned a lot about how to talk to people, show empathy, sell to them, or you have funny, horror stories. Maybe you where an accountant or a bookkeeper and you can write about how you became successful in that field.
You name! There’s a book for everything and someone who will hand over their money for that book. Why not let them buy yours?
You don’t even have to write business related books you could write a sci-fi, fantasy, fiction, nonfiction, self-help… You see where I’m going here. There are so many services online like Amazon and Kobo that makes it easy for writers to self-publish their stories.
No matter who you are, you have a story to tell. Get your story out there, start promoting on your blog to generate sales, and sit back while you’re paid over and over again for your masterpiece.
3. Create a Course
There are so many online learning platforms today that make it easy for content creators to earn a living online. You can even get a plug-in for your WordPress blog that allows you to upload and sell courses straight from your website allowing you to cut out the middle man.
You can automate free e-mail courses with MailerLite, you can make an interactive course with text and video on your WordPress, or even video courses on Udemy and SkillShare. No matter what your medium is, just get your information out there and start to build your passive income steams.
You probably have something right now that you could teach me. Just think about it. What are you doing on a daily basis? What are you good at? Even if you’re not an expert on one thing in particular, you still know how to research and you can refine your course to give out valuable information.
Do you have a hobby that you love? Teach people about it.
Online courses range from $10 to thousands of dollars per course and it’s entirely up to you what you charge. People are hungry for knowledge and they will pay for something if you show it’s value.
The above mentioned ways to earn passive income have been proven to work time and time again. There’s no reason why you can’t educate yourself on how to get started and start earning this way yourself.
I wish you nothing but success and best of luck with you work at home and remote job journey.
Until next time.