Earning money while you sleep? Not really. Other than inheritance or winning the lottery oh, there are really no effort-free ways to make money however there are some Passive Income Streams that generate income online.
On the other hand, there are several ways that you can earn passive income. To be clear, these are not zero effort undertakings. Still, you can earn some cash outside of your small business or regular gig and you won’t have to put in nearly the same amount of work as you do pursuing your more active sources of income. If you’re interested in boosting your bottom line 2019, check out these 13 passive income streams.
The 10 Passive Income Streams
1. Publish an ebook
One of the Passive Income Streams that many people have done is creating and publishing E-Books
You don’t need to be a famous author to make money from a book. Instead, of writing science fiction, consider the more pragmatic subjects e.g. business, marketing etc. If you publish an ebook that is targeted for a very specific audience, teaching a few highly-practical tricks, you can earn a few extra hundreds per month from just that.
2. Create an app
If you’re technically inclined, consider developing an app. Like an e-book, you can build an app to help increase revenue and engagement with your existing business. You can also develop an app to market directly to people on Google Play or the App Store. The key is to identify a need, then build an app that fulfills that need.
3. Vehicle wrapping
We’ve all seen those cars with magnets, window decals, or even full wraps advertising various products and services. Some people do this to advertise their own companies, but many others do so simply to earn a bit of extra income. There are businesses that will pay you to advertise on your car. Sometimes this is a simple monthly payment. In other cases payment comes in form of a commission when somebody calls or visits the website advertised on your vehicle. Honestly I haven’t done that before but I seen people doing well in that business. So I just don’t want you to miss out.
4. Creating templates, online classes in other digital products
E-books and apps are just one of many digital products you can use to make money. If you have a skill to teach others, think beyond in-person classes & live webinars. Create an online class that people can pay to download or access online.
I have been creating online courses for over 5 years now and the payout has been going well. In fact for me selling courses is my favorite. You can teach and thing that you know better and people always ask you to help them out with. It should not look complicated and any one can teach online. I have put together a full course on how create an online course that will sale for you over and over again without you actually teaching as we do onsiteonsite. If you really want build a community around you work this is the right course for you.
5. Sell stock photos
Is the camera roll on your cell phone full of pictures you’ll never use? If so you can be sitting on a source of passive income. Try uploading these pictures to a stock photo website. Your images will be stored and indexed for others to find. If somebody decides to use one of your pictures, you’ll receive a royalty fee.
6. Experiment with affiliate marketing and online advertising
If you have a website or blog that already gets a decent amount of traffic, consider online advertising or affiliate marketing. According to research Affiliate marketing is the easiest and most paying income in the digital marketing industry. All you need is joining partnership with companies that offer affiliate link and you promote your link and whenever any sale is made you get commission. I have have made a free course on affiliate marketing and if you are interested please check it out.
7. Consider crowdfunded real estate investing
It no longer takes hundreds of thousands of dollars to become a real estate investor. Now, there are real estate investment platforms that allow hundreds of smaller investors to pool their money together to buy real estate. In return, you received income based on the success of those investments.
8. Sell your designs
If you have a marketable idea for a product, you can make a bit of extra money. Even better, thanks to sites like Redbubble all you have to do is upload your design ideas. Somebody else creates the merchandise and ships it for you.
9. Try peer-to-peer rentals
You already know that you can earn money renting your home or apartment through Airbnb. What you may not know is that they are not the only source of peer-to-peer rental income. You can also earn money renting your garage, parking space, even clothes or furnishings. If needed, give your apartment an upgrade to give it a fresh new look and make it more appealing to renters. I have also seen others doing this as well but I have not done that before.
Whether you want passive income to supplement your workplace earnings, or to add more revenue to your business you certainly have a lot of options. Try some of the 9 suggestions here to add some more effort Passive Income Streams to your life.
Don’t forget to comment if you know another Passive Income Streams, and share this post with your friend