Do you want to make money online? Do you want it to be passive income?
If you said yes, you’re in luck. We’ve already went over five offline passive income ideas but there are also quite a few ways that you can earn passive income online. However, I cannot stress enough that earning online doesn’t start out passively. It takes a lot of initial work to set up these income streams.
Here are five ways you can earn passive income online.
With self-publishing platforms like Kindle or Good Reads writing and publishing your own books has never been easier.
You will have to put upfront work into writing, editing, and marketing your eBook but after that you’ll be earning passive income. You can write several eBooks and play around with pricing and topics until you hit the sweet spot for.
Create a Course
I have spent some big money taking courses online. And, no, I’m not talking about online classes through a college. I’m talking about courses made by bloggers.
If you have a unique skill set or are knowledgeable about a specific topic, you can create a course and sell it over and over.
Your course can consist of webinars, articles, voice recordings, and anything else you see fit. You will have to do some research to make sure there’s some demand for your product. After your product is created you’ll also have to do some heavy marketing.
Once you have properly marketed your course you can enjoy the fruits of your effort passively.
Sell Stock Photos
If you are good with a camera your skills are in demand!
There are several stock photos sites in which you can upload your photos and sell them for a fee. Stock photo sites then go on to allow customers to purchase your photos. The site you’re working with likely take a cut of what you earn. However, if you can build up a nice portfolio of popular stock photos you can watch the money trickle in.
Create a Niche Site
A Niche site is simply a website or blog focused on a specific niche. These niches are usually fairly small and won’t require hundreds of blog posts or articles to cover.
You’ll probably have to write at least 20-50 blog posts for your niche site (or you can outsource the writing). You’ll also have to do some marketing and other work to get your niche site to rank.
If you can get your site to rank in the search engines you can then monetize the site and earn passive income for possibly years to come.
Refer Friends to Programs You Like
There are several companies online that have referral programs. Some of the most popular are the programs that pay you to take surveys, read emails, and search the web.
If you are signed up with programs like these you can refer your friends via email or social media and earn cash or points each time they do.
If you get enough referrals the cash and points start to add up really fast.
Creating Passive Income Online
Rather than taking a ton of upfront money to create passive income online, it takes a lot of upfront time. If you’re willing to experiment and work hard now you can reap the rewards later with online passive income.
One thing that’s super important in terms of building wealth is having a supportive group of friends. I have recently been active in the saving advice forums, which has a pretty good crew of people are into passive income and extra money. Its free to sign up so, check it out here.
Also if you want a good basic book on passive income get Robert Allen’s Multiple Streams of Income: How to Generate a Lifetime of Unlimited Wealth! Allen is a bit of a salesman, but its a solid basic overview of how to build up passive income. The book received 2,900 reviews and 4 out of 5 stars on Goodreads. Check it out.