And welcome or welcome back to he blog. In this post we are going to discuss about 5 passive income ideas that I think are the easiest to start with and apply in order to diversify your online income streams and build residual income, which, is ultimately the goal or “dream” of any internet marketer or online entrepreneur.
Now, before moving forward with the passive income ideas that I want to share with you, we have to answer the following question:
“Why is it important to have passive income streams?”
Well, the answer it’s more complex than the usual mumbo jumbo that marketers promote, to have time freedom, to go and travel, to live wherever you want and other “dreams” that people obviously have.
I am a very pragmatic person and if you ask me I think about reasons like this:
1. Social and economical enviroment at a global scale. In my country people are getting a pension from the govrnment after they retire but very soon there will not be enough workers left to support these pensions. So a good idea is to have a passive income from your own sources.
2. Our health. We might get ill and we might not be able to work for 2-3 months, time in which we will probably not make money. This is why it’s a good idea to have a passive income stream or something that requires very little to no work at all.
3. You have flexibily to organize your life events as you wish. If you want to take a trip to Japan for a month than you don’t need to worry about scheduling it 3 years ahead from now. Your business or income streams work without your presence so you have the felxibility to arrange your plans as you see fit.
And there are many many other reasons for which building passive income streams is a great idea.
Now that we have covered the “WHY?” let’s see the 5 passive income ideas that you can use and apply.
- Building an online course and selling it on marketplaces like Udemy, Skillshare or others. You do the work for creating the course only one time and than every month new people will buy your course or courses, which brings you a profit. This is one of my main businesses and we can schedule a FREE skype consultation if you want to learn more about this: http://constantinsorin.com/free-skype-consultation/
- Publish Kindle books. Publishing an eBook or more eBooks on Amazon can be a very good scource of passive income and a business itself. There are people who are earning 5 figures per month with this and you don’t even have to write the books on your own, you can have someone else do it for you.
- Start An Amazon FBA Business. I can tell you from personal experience that once you set this up you can easily earn 1000$+ per month by creating your own brand of products that you can get from China or somewhere else and store them in Amazon’s deposits leaving all the logistics on their hands. It requires a little bit of work in the begining but it can definitely become a big part of your income.
- Use P2P lending platforms. If you have put aside a good amount of money this can be a very stable and secure source of passive income. How does this work? You sign up on a secure P2P platform like Viventor or Twino and than you start participating in a sort of “crowdfunding” lending campaigns for verified people who need to lend money for different projects. For example, Twino guarantees that if users don’t pay the money back they will pay you back your money but without the interest rate. Anyway, you can earn anyhere between 12% and 14% per year with this. Create your Viventor account for free HERE.
- Earn from affiliate marketing by doing product reviews. This is probably one of the easiest way to set yourself up for passive income without having to invest a penny if you don’t want to. You can create review videos or start a blog and promote different digital and physical products through your reviews. To take this to the next level you can promote affiliate offers with reccuring comission, like membership sites or SaaS softwares that have monthly plans. You can check out my Affiliate Marketing Course here for more details about this method: https://www.udemy.com/affiliate-marketing-hacking-the-5-steps-fast-track-method/?couponCode=SPECIAL_999
Well, these were the 5 passive income ideas that I wanted to share with you. I think these are a good option for anyone in the world and are some of the easiest to start with.
I am looking forward to see your opinion about these passive income ideas and also to see if you knoe about any others so feel free to comment on this article.
Also, if you think this was a helpful article please share it with your friends and connections. Maybe more people can benefit from it.
Thanks and see you soon,