There are many passive income ideas like purchasing real estate, investing money, and buying a business that runs without your active participation.
Many side hustles can provide you with enough income after you put in your initial hard work. Then you can reap the benefits and make money while sleeping.
There are two types of income: Passive Income and Active Income
Active Income: Normally, we generate revenue through traditional jobs or businesses, which is active income. One more way is to create active income with side hustles.
Active Income side hustles: This is the income earned by directly trading time for money. Some side hustles include graphic designing, coding, pet sitting, and babysitting. It needs you to be putting in hours to get paid.
You cannot run these on autopilot or without active participation.
Passive Income: Passive income is generated without active participation. It needs some maintenance and upfront work, but after some time, you can make money even while sleeping.
Passive Income side hustles: Passive income side hustles can be created once, need your hard work up front, and can be run on autopilot. Some of the passive income side hustles are
Passive Side Hustles to make money while sleeping
1. Creating digital products
Creating digital products can be a lucrative side hustle. Digital products are products that can be downloaded. So you can sell products like Software, printables, eBooks, fonts, and graphics to make money.
If you work full time and don’t have much time to take on other side hustles, but your skill can benefit others, why not turn it into an online course? It will take some time to create a course, but after initial hard work, it will need very little maintenance.
2. Starting a website
If you are looking to earn passive income online, starting a website can do wonders. You can create a niche website where the topic is very tight-niched and generates good passive income. Typically people who make these types of websites earn between $1000-5000 from one website. To generate enough profits, they create more than one website.
Difficulty level: It depends on the niche of the website. Primarily niche websites target low competition keywords and write about a specific topic. Their posts revive around that particular topic.
3. Selling Stock Photos
Online side hustles need photos to make the content more engaging. Bloggers, graphic designers, and social media marketers need photos to make their content visually appealing. But unfortunately, not everybody is good at photography.
Here comes the need for stock photos. You can start selling your stock photos if you have good photography skills. I love pictures from Ivory mix, a great website to buy stock photos.
Also, you can sell stock photos on sites like Shutterstock and Pexels.
4. Start or buy a low-cost business
The internet has opened many avenues for online businesses that need very little maintenance. Moreover, many of the tasks of online companies can be outsourced.
You can start your business from scratch or buy an existing online business.
How to start a business when you don’t have money
5. Dropshipping business
Dropshipping is the type of eCommerce business where the store doesn’t keep the product in the warehouse. Instead, it is shipped by a third party when a consumer purchases.
It eliminates the risk of buying products in bulk. Though the model is simple, making your dropshipping business successful takes a lot of work. You can start a store on Shopify, which is not expensive. The actual work begins with choosing a niche that is not saturated.
You can read more about the dropshipping business here
6. Create ebooks
Creating eBooks for earning a passive income is a favored method by bloggers and content creators. An ebook can be a good source of income if done right and if it targets a problem your readers are facing.
There are many ways to sell ebooks, one of which is selling them to your followers and readers on your website/blog. Another method is to do it on Amazon. It is a good idea to repackage your ebook and sell it as kindle only and as iBooks. A lot of people buy books there too.
The pricing of the book depends a lot on your niche. For example, minimalistic or frugal living people will not be spending much on eBooks, but if your readers are business-related, it is easy to make money.
7. Passive income with Online courses
Online courses can be created once and will continue to make money as long as the system is relevant. Also, you can update it as there are any changes.
As with eBooks, courses should be able to solve the problems readers are facing. It is a good idea to ask your readers first and then create a course. It takes a lot of time to make a course as it is a mix of text, videos, and worksheets.
It requires a lot of upfront work, and you must deal with many course-related queries.
8. Affiliate Marketing
Affiliate Marketing: Affiliate marketing is a form where you earn money for referring people to the product and get paid the commission for the referral. There are many forms of affiliate marketing. For example, you can become an affiliate for a product/course or create an affiliate program for your products or courses. Either way, you will earn money.
Most bloggers earn a good amount of their income from affiliate marketing. However, you can always learn this skill of making money as an affiliate.
Some people make very niche-specific websites with excellent SEO and start affiliate marketing. If you have created a blog, then earning money with affiliate marketing will be much easier. However, if you are a beginner and want to learn affiliate marketing, this Affiliate marketing course is perfect for you.
There are many ways to share your affiliate links
- In your blog posts
- Social media platforms
- Email marketing
- In your freebies
How to get started in Affiliate Marketing?
If you are new to Affiliate Marketing, it can be tricky. I am also learning affiliate marketing. Many free resources are available, but it is a good idea to learn from someone making a lot of money from it.
I mean, learn the nitty-gritty of affiliate marketing from Making Sense of Affiliate Marketing and start using affiliate links. It is a comprehensive course and very helpful even if you are a beginner.
9. eCommerce is one of the best passive side hustles
eCommerce or electronic commerce is the system of buying and selling products and making transactions. eCommerce seems to be accessible as there is a significantly less upfront cost, but it takes a lot of hard and intelligent work to make it successful.
Many physical and digital products like eBooks, Software, and Graphic designs are part of eCommerce businesses. These sell on automation and are the perfect passive income side hustle to make money while sleeping.
There are different types of e-commerce businesses:
- Business to business
- Business to consumer
- Consumer to consumer
- Consumer to business
- Business to Administration
- Consumer to Administration
Businesses like Amazon, eBay, Flipcart Etsy are eCommerce businesses. These are just a few examples of where you can sell your products. There are many more different eCommerce businesses. Global eCommerce business sales are projected to increase to 27 trillion dollars.
10. Niche Membership Site
Niche membership sites can bring an income for a long time to come. There are many ways to start a niche membership website. For example, you can start doing videos or courses that can be accessible to the members as they pay.
They can have access to the content as they pay. Also, you can set up membership sites for different levels. With different plans, a member can access different types of content.
Here is a detailed article by Smart blogger on membership sites with examples of successful membership sites.
11. Make money with youtube adds
People love to watch videos, and google loves to show them on their first pages. Also, it is easier to watch videos than to read long-form content, which makes it easy to get traffic and eyeballs on youtube videos.
If your videos target a technical niche, it is possible to generate ad income if some ad appears, which could be helpful, and a person will watch it. Which means you will get paid for this.
Moreover, Youtube is the second most used search engine. If you get good traffic, you will make more money. This type of content can be a good source of passive income online.
? If you want to start making money online, start doing surveys. You will not become rich, but you can increase your emergency fund or pay a bill with this extra money. I am using the money I get from surveys to build my emergency fund. Here is one of my favorite survey companies
- Survey Junkie: I use Survey Junkie to make money and get paid or gifts.
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