How to create a Passive Income Streams. Ideas you can’t miss to try!
You can make money while you sleep? Actually, no. You may think there are no ways to make money while sleeping, except for inheriting money or winning the lottery. But in fact, you are wrong. Today you can an incredible income from the comfort of your home doing almost nothing.
However, there are many different ways to generate passive income. These are not zero-effort projects, to be precise. Even though you can make a little money outside of your small business or regular job and it won’t require nearly as much effort as your more active sources of revenue. Check out these 13 passive income streams if you want to increase your income in online.
1 #: Passive income streams: Publishing an ebook
To generate money from a book, you don’t have to be a well-known author. Instead of writing science fiction, think about writing about topics that are more realistic, like business, marketing, etc.
You can make a few additional hundreds every month if you publish an ebook that is tailored to a very particular audience and teaches a few handy tips.
You may say, you can’t write a book. But to me, that is just a mindset, you can actually write a book that can impact many people’s lives. I have never dreamed of becoming an author before, however, a few years later, I learned that you can generate passive income streams when you have a short book of even less than 100 pages. That’s where a got the idea to write and publish my first book “The 50 pages million dollar idea” I was very amazed by the results of the book.
2. Passive income streams: Creating an app
If you have a technical mind, think about creating an app. Similar to an e-book, you can create an app to boost sales and user interaction with your current company. Additionally, you can create an app to sell to customers directly through Google Play or the App Store. Finding a need and then creating an app to fill it are the crucial steps.
Once you have successfully created an app that fills a demand in the market, you will no longer struggle anymore. You can even hire a marketer to promote your app generating an income while you sleep.
Even though this opportunity is not easy for everybody around but is an incredible business if you can plan for its long-term benefits.
3. Creating templates, and online classes in other digital products is yet other passive income streams
One of the many digital products you can sell to earn passive income streams is e-books and apps. Think outside of living webinars and in-person classes if you have the ability to educate people. Make a paid online course that anyone can download or access. Consider selling templates you develop for DIY if you write content or design websites. The list is endless.
If you don’t have any skills at the moment, I prefer the best investment to make is investing in your brain. Learn skills that will help you generate more income over the current job that you may have.
4. Experiment with affiliate marketing and online advertising
Among the easiest ways to start earning an income online if you have less skill is affiliate marketing. If your website or blog currently receives a respectable amount of traffic, you might want to think about affiliate marketing or online advertising. You have two options for promoting certain products: either directly or by renting out space on your website to marketers in exchange for a commission.
5. Consider crowdfunded real estate investing
Real estate investing no longer requires hundreds of thousands of dollars. Numerous smaller investors can now pool their funds to purchase real estate thanks to online platforms for real estate investing. In exchange, you got paid money based on how well those assets did.
6. Sell your designs or artwork
You can earn a little additional cash if you have a product concept that would be marketable. Even better, all you have to do to sell your designs is upload them to websites like Redbubble. You don’t make the product; someone else does, and they ship it for you.
7. Try peer-to-peer rentals
You are already aware that you can make money by using Airbnb to rent out your house or apartment. You might be surprised to learn that they are not the only way to make money from peer-to-peer rentals.
Renting out your parking spot, garage, clothing, or furniture is another way to make money. Upgrade your apartment if necessary to give it a brand-new appearance and attract more renters.
working with a few photographers, I actually rented out suits for our clients before and that turned out an incredible small business. Many people would ask me, “Yassir, why are you buying many suits, what for? I kept the secret for myself. However sometimes I wear suits, the real business behind them is rental service.
You have a wide range of possibilities, whether you want passive income to increase your income outside of the office or to expand your business. To add more effort-based income streams to your life, try some of the 13 recommendations listed here.
8. License a business idea
Offer those investors a licensing deal if you already have contacts in the investing community and a solid business idea before. I published a book, “The Digital Millionaire Mindset” on how to create a lifestyle of your dream in this digital error. If you don’t have a business idea up to date, I consider you to read this book. It’s FREE to check it out here [ The Digital Millionaire Mindset]
9. Open a turnkey business
There are several passive choices available to you if you want to launch a more conventional business and have some cash to invest upfront. Vending machines, self-service car washes, and coin laundries are three examples of companies that generate revenue even when the owner is not there.
Once set up, you can hire someone to operate the service while you do something else. I have seen such local businesses start a few years ago and today they have grown far beyond measurement. I am very sure you may have seen it too but you have never given it a thought. If you are still struggling to get a better job, why not invest the little money you have in such an asset and enjoy the income you make from it?
10. Sell stock photos
Are there photos on your phone’s camera roll that you’ll never use? If so, you may be sitting on a passive income source. Consider submitting these images to a stock image website. Your photos will be archived and searchable for public access. You’ll get paid a royalty fee if someone chooses to use one of your images.
Besides that, we never know one day a big company may see your work out there and hire you for a good paycheck. I don’t promise this will work, but I have met a friend of mine who is doing very well in the local market just holding his camera. So why not you?
Let be brutal clear with you. If you are jumping from one article to another on the internet thinking you click on a magic button that will make money rain on you, buddy I have never got that before till I really start to implement at least one of the above ideas. Someone said that actions sound better than words. And to me, I have proved it for myself. I didn’t make money from affiliate marketing till I actually started affiliating with companies that provided the products my customers needed.
I did not earn from selling digital courses till I published my courses. I did not earn from web design services till I learned how to design websites, look for clients, and deliver the service. It’s from this journey I learn that I can turn my web design service to web hosting to earn more income doing almost nothing different. Thanks to Heavens for supporting me with the hard work. It was not easy, and I will not be like those so-called gurus out there who tell you, “men it’s easy to make money online, just kick here” and they end up filling your inbox with lots of emails.
Follow us for more amazing articles that generate massive impact to businesses. If you really need success earning passive income consider some of the ideas above. Your journey starts now. And if you have any questions, feel free to comment below. I will be very happy to hear from you.
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