How to earn passive income?
What’s passive income? A recurring income generated from a source with more or less effort.
You must have heard many a time about a passive income and may also explored about it. Right? But have you really explored all options which allows you to earn passive income?
I can understand how deviating is the journey. When I was looking for such passive income platforms, I always ended lost in halfway. But after so many failures I am familiar with platforms which makes me earn passively.
I am going to list down 5 legit platforms which can generate income for longer time by utilizing your free time and also this medium requires less or null investment. It requires only your time to invest to understand it, your effort to get things done and your patience. I am going to list key points on how you can start, what things are required, what should do and not to do and so on, so, let’s jump into it.
- Blog Writing
- YouTube Videos
- Affiliate Marketing
- Digital Product
- Coaching
1. Blog Writing
You must have read an article, the way you are reading this one. Yes, this article is blog. You guessed it correct, any website which shares an information regularly, typically by an individual or a small group in form of articles can be called as blog.
If you have an interest to write and are expert in your domain, field, then this is for you. Anyone can become a blogger. The most important thing required is a love to research, deep dive into subjects, collect the artifacts, and articulate in most readable formats.
Investment: To start a blog, a website and hosting is required where you can write your articles. The initial investment is minimum and once your website is live you are ready to share your thoughts in form of articles.
2. YouTube Videos
Who is not aware of YouTube? YouTube has part of everyone’s life. It has become one stop solution for many things like entertainment, learning, vlogging, etc.
If you love the camera and interested to share your creative thoughts in form of videos, then do not delay starting your YouTube journey. You can start your journey with no investment except your time. At minimum requirements, you need only a smart phone and who doesn’t have smart phones these days? So, pick up your smartphone, start creating, recording content and upload on the channel and just like that you started your YouTube journey.
3. Affiliate Marketing
Affiliate Marketing is the marketing of products by sharing your refer link to the audience, as the person makes buy product or service using your referral link, you start earning. Yes, it’s that simple.
You need to be partner with Affiliate Marketing groups where the products are listed. You can choose the product as per your niche and share with your audience. Amazon affiliate program is one of the popular programs along with it there are many programs which allows us the market their product and on purchase we get some percentage of commission on it.
Are you thinking on how do you create audience? Then worry not, it’s simple. You read about writing a blog or creating YouTube and this are the best platforms where you have already audience. You just need to add the link on the relevant post of product or share the link in the description of YouTube video and promote it in the video.
Why wait? start creating content and register your first affiliate marketing earning soon!
4. Digital Product
A product which is in form of digital and has no physical presence is the Digital Product. Ex. Udemy courses.
Yes, the form of content created once and used by multiple users is digital product. Here you need to invest your time once and then keep selling your product to your audience.
To create a digital product its essential that you are expert in the field of which you are creating product else think why would anybody buy your product? Right? So, if you are expert in anything then start your creating content and start selling it.
5. Coaching
On life path everyone needs guidance on something. Someone might need in field of learning, or some might need in terms of trading. Coaching is required in every sector and as there are seekers you can be coach by sharing your learning and expertise with the audience.
If you haven’t thought before about it, then start exploring in field of coaching.
Conclusion
Above are few of the passive income options which you can start immediately with minimum requirement. It only requires your time, dedication and patience. So, start your side hustle and start earning side income.
Do let me know your thoughts.
