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There’s actually two different ways to make money online.
The first way is what’s called an active income, this is like going to a nine-to-five job.
You have to physically show up and physically do manual work to actually earn that income and if you’re not actively doing it you’re not actively earning it.
The second way is Passive income now is what you earn without doing any additional work.
It does take work to set up passive income streams but the cool thing is you only have to set up once and you can continue to earn passive income for many months or even years to come.
Quick ways to make money 1. Vindale Research. This site offers quick surveys with very competitive rates of pay. 2. Survey Junkie. This is one of the most established paid survey sites. We love them! 3. InboxDollars. If you want to make some quick cash watching ads, playing games or completing paid surveys you might like InboxDollars.
Why You Need A Passive Income Idea?
It doesn’t require a lot of extensive work and time once it is set-up , if good enough, can bring you constant revenue for an extended period of time
Saves you a lot on time so you can focus on multiple projects at once for generating more revenue altogether.
The income from these passive streams might decrease after a certain point in time.
Takes quite a lot of time to give positive results in terms of revenue, and more in the beginning.
Here are the best passive income businesses you can start today to earn online and acquire financial freedom.
SMM or Social Media Marketing
Many businesses nowadays understand that they need to be advertising on social media and on digital media to have a chance of actually competing with their competition and to really evolve into the digital age.
That’s why it is important for you to learn basic strategies to make ads that can take 5 minutes to set up.
This skill is very valuable to businesses out there like doctors, dentists, lawyers, real estate agents insurance agents who have no idea how to even set up basic ads on Facebook or on Google .
That is where you come in and become the bridge between these old-school businesses who have no idea how to set up digital media.
If you do not have any money for a course you can learn basic creation of ads from Google or YouTube.
Most people aren’t willing to actually get on a camera and make videos, and so if you are willing to do that, you already have a huge advantage over most people.
There are so many different YouTube channels out there for example about fishing, cooking, about making money online, pranks, and everything that you could of so you don’t have to actually start from scratch you can see what’s already popular.
YouTube shows you what videos have the most views in the shortest time and then you can actually just find your passion and make similar videos with similar titles and similar thumbnails.
If you are not comfortable in filming yourself then you can still make thousands of dollars on YouTube with these different ways.
Once you actually get 4000 watch hours and a 1000 subscribers then you can start to monetize your YouTube channel and get paid for every single ad that somebody views on your channel.
Once you have a YouTube channel and you have a following you can make money in so many other ways such as selling merchandise, affiliate marketing either with your own or other people’s products or services, Ecommerce.
One of the obvious tips of succeeding on YouTube is consistency. If you consistently put out content with regardless of how slow or fast it may take you to get to that 1000 you will start to make a significant amount of money with YouTube.
Some of the most profitable YouTube content niches are:-
- Product reviews. Especially electronics like mobile phones, headphones and PC parts;
- Cooking and recipes;
- Unboxing of toys, electronics and clothing;
- and so much more
There’s a significant number of ways that you can make money on Amazon you can do it by publishing a simple Kindle eBook.
Start by identifying niches on the Kindle marketplace that have more demand than they have supply. Then write a short and simple concise kindle eBook and actually capitalize on that by selling it for $5 or $10 but once you start to get 50 or 100 sales a month, then you can make a significant amount of passive income with no additional work.
There are so many other ways to make money on Amazon; with Amazon wholesale, FBA, fulfillment by Amazon, creating your own private label brand.
You can make money through the Amazon Associates Program which is the largest affiliate program in the entire world.
Go to YouTube right now and type in ‘the top 10 best DSLR cameras’, you’ll see hundreds of videos and the reason that they’re doing that is because they’re actually linking their affiliate links and then every time somebody watches that YouTube video clicks one of their links Amazon will actually give them 8 to 15% of each of those sales.
Market Clickbank Products/Services
Clickbank is it’s one of the largest affiliate networks in the world what this means is there’s thousands of people out there who put their products or service or courses on to Clickbank and then affiliate marketers will promote those courses and then they get paid every single time somebody makes a sale.
The cool thing about Clickbank is you can see what products are the best-selling.
You can see exactly how much each sale will generate you as an affiliate marketer and then you can start to market to these products using Facebook ads or Google Ads.
You can still promote in a free way by creating Instagram pages or making YouTube videos about the products/software.
Creat a Course With Udemy
It is one of the largest digital course marketplaces. They have courses about everything; you can get courses about coding, how to speak a new language, Amazon and everything that you could possibly think of. Discover Udemy’s featured courses!
The reason for that is because these people are making a significant amount selling the course itself but you can also include affiliate links to other products or services or software that you use in your course.
This Complete Guide to Selling Courses on Udemy will help you find the perfect course topic for you and how to analyze whether it will be successful or not.
The great part about Udemy is, it’s basically free traffic.
Become an English tutor
You can earn $18 – $22 per hour simply to tutor English.
If you speak English or you were born in a country that speaks English as its first language you already have a very valuable skill that thousands if not millions of people from around the world are actually willing to pay for.
As you get better at tutoring English you’ll start to earn more and you’ll get more opportunities like having private lessons with a single person who will pay you significantly more than the base rate.
That’s how you can really start to make a significant amount of money from being an English tutor online.
Walk Dogs with Rover
Are you a dog lover? Rover gives you the opportunity of getting paid to do what you enjoy; taking care of people’s dogs while they go on vacation or work trip.
A lot of people don’t want to take their dogs to more expensive kennels where their dog is just with a bunch of other dogs and not necessarily treated that well so they’d rather take it to a specific person who loves dogs.
You can make an extra $200 just to babysit awesome cute cuddly dogs for a night and I would honestly do that for free in most cases, unfortunately, Rover is only available in the US and in Canada for now.
Teach anything with Take Lessons
Take lessons is a website where you give lessons to people about what you know how to do.
If you know how to play a musical instrument, you know how to do math really well, you know a lot about geography or English or any number of things you can get paid to tutor people in the skill sets that you personally have.
Online flipping as we’ve talked about a number of times in a number of different articles I’ve written, but it’s a really good way to start making money with zero money to start right.
How this works is you go on websites like Craigslist and filter to the free section or Facebook marketplace and find highly valuable items like appliances or sporting equipment or things that you know you can actually sell.
Then you take better pictures and you relist those same products that you actually got for free for 40 bucks 50 bucks or even $100
You can also list them on sites like eBay, Etsy and Amazon and sell them.
You will start to earn a significant amount of money doing that because if you get those products for free when people are moving and just want to get rid of their stuff and you sell it for anything then it’s a 100% profit.
You can then reinvest into more full-time income streams like Amazon or social media marketing
Upwork and Fiverr
You can sign up as a Virtual Assistant or a secretary or an executive assistant and do customer service or whichever duties the person who hires you needs you to do.
If you have more specialized skills like a software developer or you can create websites you can go ahead and create a gig on Fiverr or list those skills on Upwork and you can start to become a freelancer where you’re able to work from home doing the things that you want to do and have more financial freedom and time.
So, we are at the end of this article. These are the 10 legit passive income ideas to make money while sleeping. Hope this article helps you to find the best passive income stream for you.