Want to learn the secret to make passive income online for beginners?
The fact is….
There is no passive income method. You have to work. There is no easy money process.
Say, you’ve build a blog and have created passive income streams online and don’t work anymore after few days on driving traffic to the blog.
Days pass, and competitors keep coming up and outbeat you.
Slowly, your business keeps making less and less money …and completely stops one day.
Similar with other businesses too.
The fact is…
You’ve to keep working on driving traffic.
You’ve keep working on marketing the business.
You’ve to keep working on getting leads to your business.
Whether you do it yourself or hire a virtual assistant to do it, you’ve to keep working …and this shows nothing is passive.
The term “passive income” means an income received on regular basis, with little or no effort required to maintain it.
So, whether you do it yourself or hire someone to do it for you, you have to keep building your business.
Like offline business, online business too needs time, effort and investment.
I know many say, you can start an online business without investment.
That’s true! You can start… but to develop and grow it to take it to the next level, you need to invest.
Well, without going further into the topic of investing in a business (we can discuss that in some other article), let’s dive straight into some ways to make passive income online for beginners.
How about making $500 extra a week to buy your groceries or to pay your bills on time?
Of course, $500 is not the limit. You can start earning anywhere from $500 per week and sky is the limit, make endless amount of money online if you know how to.
Before, I go into the article and discuss the various ways to make passive income online, let me tell you about the importance of value exchange and its types.
8 Proven Ways To Make Passive Income Online For Beginners
Freelancing is a great side business to start and it requires no investment. Even if you are working full-time, you can make a decent income with this method.
Say, you’ve good writing skills. You can sign up for freelancing platforms such as freelancer.com or elance.com. After you sign up, you’ll find thousands of projects on the platform and hundreds of freelancers bidding on these projects. You too submit your proposal with a good message to the employer, citing your strong points why they should hire you and wait for their response. Not all times, you will get reply back. But if you’re a strong contender with good portfolio and meet the criteria set by the employer, there is the possibility of you being contacted.
Similar to writing, you can also take up designing tasks or coding tasks or software tasks or anything or are skilled at as a freelancing business.
If you don’t have the time to work on your own, you can outsource the task to others while keeping a profit margin, provided you have good management skills. That’s because, since you’re outsourcing to others, you have to keep up to the deadline set to you by your employer.
Affiliate marketing means you don’t have to own a product but you can make money by selling others’ products. Say, you have a tech review website. You can make money with the website by promoting some other company’s anti-virus software.
So, how do you promote the anti-virus software?
Write a detailed review about the software and some tutorial guides on how to use the software. These two types of articles should be enough to bring in visitors, provided you use the right keywords.
If you can bring in thousands of visitors to your website, making few sales isn’t a hard task. Using this proven system, you can literally make thousands of dollars a month. You can commissions paid for every sale you make as an affiliate marketer.
However, this method to make passive income online for beginners takes time and dedication. You can simply make thousands of dollars with a single review article. You got to have a huge number of similar articles to make a decent income.
Buying websites for cheap, growing it by building traffic to the site and selling it for huge profit is a great way to make passive income online for beginners.
Amy Anderson of Flipping Awesome is a website flipper and makes a six-figure income online just by flipping sites.
And if you know how to create a website, you can do so yourself and sell it for a price. Though that’s not exactly website flipping, still you will make money.
On the other hand, you can buy websites for cheap (several of them are being sold at various forums), work on the site for about a month or two to bring in some traffic, monetize the site with the right strategies to show that a starter site is making quite a decent income and sell it for profit.
Normally, you can sell it for 10x the monthly income.
For example, if your site is making $100 per month, you can sell it for $1000 easily. Selling platforms like flippa.com and empireflipper.com are most trusted to sell websites. You can use PayPal or escrow system provided by the platform to get paid securely by the buyer.
Selling ebooks and ecourses is another option to make passive income online for beginners. For this, you don’t need a website or a blog though having one would help you in better promotion.
Check out on Amazon what the best-selling books are on a niche. Choose a topic on the niche and start writing. Just make sure that the information you put into the book is worthy enough to purchase.
The ebook can range from 20 pages to 100 pages and beyond, depending on what you write.
Create an ebook cover and publish it on Amazon.
To drive sales, promote the beook to your close friends and relatives. Give them away for free and ask for their honest review to publish on Amazon.
Honestly, to make ebook sales on Amazon, you need to have review and good rating. So, collect them and slowly you will start making organic sales.
You can also sell ebooks on ClickBank. To get sales on Clickbank, you can do affiliate marketing. Contact some bloggers in your niche and ask them to promote your ebook on their blog in return of commissions. Generally, 50% commissions work great to boost the bloggers to promote stuff.
If you’re not skilled at writing, you can create videos, audios and scripts of a topic and sell them as e-courses. E-Courses are in great demand now as people are turning online more and more to get educated on a certain topic.
So, creating e-courses can be a profitable business and a good way to make passive income online for beginners.
Break up the e-course into modules and create videos and audios for each module. Having sub-modules would be even better to get deeper into the topic and making the course more informative and in-demand.
After creating these e-courses, you can sell them through Udemy.
I’ve already discussed how to launch your course and sell through Udemy.
Another way to sell e-courses is to get a domain name, create a sales page on the domain and drive traffic to the sales page to get sales.
Blogs can also work to promote e-courses, provided you figure yourself as an authority in the niche.
Writing premium content, normally of very informative that you can’t find on the web or compilation of various resources and creating a resource, and making it hide from visitors for a small one-time fee or monthly subscription is a magazine style to make passive income online for beginners.
This type of money-making ideas are generally seen with high profile magazines where you get access to their material for a monthly subscription.
Now, many blogs are using this technique to make recurring passive income online. This method gives you a way to make recurring income just for writing premium content.
However, don’t take it easy. Writing such premium stuff isn’t easy at all. Those who have done it, know it!
The web is full of content. Whatever you search for, you will get an answer to everything for free.
But still you can make premium content if you dig deep into a niche and know where the money lies.
Software Development (Creating Apps)
If you PHP, JAVA and other programming languages, you can make passive income online for beginners by simply developing apps.
Apps are in huge demand now and most websites are looking to create an app. Imagine there are billions and trillions of websites and if all websites are now wanting to get an app, what the demand that would be!
Though developing app is not making passive income, it still can make you money and generate you a full-time business in the coming years.
Consultation is not a good way to make passive income online for beginners but is a good way to make passive income online for already established figures.
Can anyone trust you as their consultant if you are an absolute beginner? Will they take your advice?
You have to establish yourself as an authority figure in a niche and only then, you can get decent amount paid for consultation.
Establishing yourself as an authority figure isn’t easy. Expertise blogging is the most common way along with reaching out and setting yourself up with influential bloggers can show you the road to success as an authority.
Consultants can get paid in four to five figures for a single consultation. So, you can see how you can generate passive income by simply projecting yourself as an authority.
These passive income generation methods for beginners are nothing new and I’ve a video for you about delivering value in various forms. Don’t forget to check it out. You will learn a lot about Value Exchange and how it can help you create a genuine business.
Obviously, there are many ways to make passive income online for beginners with the most important thing being passion and great content.
Getting something together is one thing and people getting genuine value is a completely different ball game. So, even if you skipped the video for now, save it for watching later; otherwise, you will miss something that can grow your business.
If you are looking to take your business to the next level, I strongly suggest you take a look at the other articles below:
If you already make passive income online for beginners and already successful, consider tweeting me. And if you are still struggling to make your first dime, like me on Facebook to comment with your question.