This post was most recently updated on November 27th, 2019
Learning how to make passive income online is one of the most lucrative ways to gain financial freedom. Not mention, the great thing about the digital world is that it’s easier to supervise projects and outsource tasks whenever required.
However, not many people have the expertise or the knowledge to kick-start their passive income journey and that’s exactly why we’ve come up with this post.
In this guide, we’ll be walking you through some of the best ways to make passive income online.
Passive Ways to Make Money Online
Now you’re probably wondering if there really is such a thing as earning “passive” income. The truth is, you will be required to put in a couple of hours if you want to succeed but it’ll be totally worth it. If you want to try your luck with something easier, consider checking out passive income apps to earn money. While these apps can only help you earn a nominal amount, it’s a good way to start, especially since you virtually have to do nothing.
However, if you’ve got the drive to take on a bigger project, here’s our list on how to make passive income online:
Create or Buy a Blog
Creating a blog has easily become one of the best ways to generate passive income online. Start by choosing a popular niche that people might be interested in. It could be anything from personal development to tech or any beauty and lifestyle. Once that’s taken care of, create high-value content that’ll help build a large audience to market. You can also hire someone to take the work off your hands, depending on how much effort you’re willing to put in.
If you’re not keen on creating a blog from scratch, fast-track the process by buying one instead. Once you have a large audience to leverage, you can generate passive income by:
- Using AdSense to display ads on your blog
- Set up affiliate links
- Market your own products and services such as eBooks, courses etc.
Develop WordPress Themes
If you’ve got what it takes, you can generate passive income by developing themes for WordPress. A ton of people use WordPress to make their blogs and when they do, they’ll require a kickass theme to get started. Now each theme represents a distinct style which is why you should try your luck and develop something that people would like on ThemeForest.
Browse through some of the most popular themes to gain some inspiration. The top theme developers are able to earn millions of dollars via Envato Market. Of course, it will take you a while to earn a substantial income but it’s definitely worth the effort if you have the right skills. Not mention, developing a theme on WordPress is definitely a unique approach on how to make passive income online.
Become a Part of Amazon’s FBA Program
Amazon’s “Fulfillment by Amazon” program is a life saver for folks who want to run their own online store but don’t want to worry about inventory. Managing an online business is a full-time job but what if you could get someone to take care of some of the work for you?
That’s exactly what FBA is for. All you have to do is directly ship products to Amazon (you can create your own or buy something in bulk). After that, Amazon will take care of the rest including delivery. Sure, they do take their share of the cut but it’s fairly alright since they’re taking care of most of the work.
The trick here is to sell a product that people will go nuts for. Selling cheap knockoffs isn’t a good idea as customers will simply leave bad reviews behind and you won’t be able to earn well. So only opt for this method if you have something great to sell!
Write an Ebook
Another excellent way to generate passive income is by writing an eBook, though you can hire someone to ghost-write it from Upwork. If you’re a novice writer, steer clear from fiction since its unknown territory that can be difficult to break ground in.
Focus on your niche and consider offering guidance about something you already know about. You’re likely to get more attention if you write on something technical in nature.
The key is to offer high-value content that readers might be interested in so spend some time conducting research. Once you’ve created something that people will like, get it published using Amazon’s Kindle Direct Publishing (KDP) program. This program makes it possible for practically anybody to get published. However, be prepared to take on the competition because well, Amazon is crowded with new eBooks every day.
Bonus Tip – If you’re not sure what to write about and have a blog, consider organizing your old blog posts into chapters. This could be a cool memoir that even your followers would be interested in.
Sell Your Music
Are you bathroom singer who’s dying to be discovered? Well, now’s your chance.
Consider selling your own music. You can use platforms such as iTunes or Shopify but we advise you set up your own online store for this. This’ll allow you to keep every cent of your hard-earned money. If this venture turns out to be successful, you can start selling your own merchandise too.
How to Make Passive Income Online: Wrapping it Up
We hope you’ve enjoyed reading our guide on how to how to make passive income online.
If so, please tell us about your favorite passive way to make money online. We’d love to hear from you in the comments section below. Goodluck!