One of the best known and most widespread passive incomes is real estate. Great entrepreneurs in the past have exploited this technique to get rich without making any effort afterwards. There are pros and cons when it comes to real estate, it takes quite a bit of money to get started.
But if today you are a student, unemployed or employed, you can build passive income thanks to the power of the internet. Today, the internet has allowed many beginners, people without experience, without a diploma to have passive income and to live differently.
But what is passive income?
When you look around you see people who go to work every day, who are wage earners, employees or whatever. These people spend all their time at work to earn a salary at the end of the month. They trade their time for money and if they stop working for X reasons they won’t be able to earn any.
The income they generate is called active income . You are paid in exchange for a service, benefit or work.
Now imagine that you rent something like a car for a year. Each month you will be paid without providing any additional effort. It’s the same thing, if you work the land you sow a field, you will provide a big effort at the beginning.
But when the work is done, all you have to do is reap the fruits of your labor.
Passive income is therefore work that you do once without having results in the present moment, without being paid. But which saves you a lot of money afterwards.
There is no exchange in this case, you will not have a salary after an hour or a day but considerable earnings in the future. It’s kind of a long-term investment.
What passive income to set up from scratch?
Micro service sites
The first way to create passive income are micro service sites like 5dollars or fiverr or other. On these sites you can offer services according to your skills.
But you have neither the time nor the desire to spend your time on this kind of service. What you’re going to do is offer a ready-made service. You’ve written a cookbook, SEO ebook, or stock market training.
Then offer your resources and in this way you will not even spend 5 minutes a day on these sites. You will simply login to deliver your service to the customer.
Obviously to generate your first earnings you will have to create your services and it will take you a lot of time at the beginning. And the more you have, the more income you will make. With this method you can expect to earn between 0 and more than 1000€ per month.
It depends on the number of services you offer, the value of your average basket and the quality of your work (customer testimonials and positive feedback).
E-commerce is a business that can yield passive income if you’ve done the job right in the beginning. Unlike the service delivery seen in the first point, e-commerce requires various skills. But nothing is impossible, every day many get into this type of business.
Obviously, e-commerce stores such as shopify or other CMS are not limited to dropshipping, which is fashionable today.
You can create your store, make it professional and work on SEO to get organic traffic without having to pay for advertising. Whether it’s for dropshipping or for a traditional store, your customers will find you and buy your products if you have done the job well in the beginning.
Selling on Amazon is an activity that can be very rewarding if you are well trained.
Your earnings depend on several factors like the choice of product and the number of products you sell.
After having done the work beforehand, i.e. looking for products, contacting suppliers, testing the products, delivering the products to amazon and creating and setting up your seller account.
You will have almost nothing to do or almost, amazon takes care of selling and delivering your products. This business is not for beginners but can be launched if you train well and understand the business model and the strategies to be put in place.
You can hope to initially earn additional income and then several thousand dollars with experience.
Write an ebook
Ebook sales exploded in 2012 but continue to be profitable even today. Simply write an eBook around a niche or passion and pitch it to your audience to start making money.
Creating an ebook can be time-consuming and it is possible to delegate the writing. How to make money with your ebook?
If you have an audience, you can offer them your product via an automated email sequence on your site. You can sell your ebook on other platforms to increase your income such as 1tpe, amazon or even 5dollars that we have already seen previously.
Earning money with an ebook can therefore be summed up in two main stages: creation and promotion. Once your ebook is on several platforms, all you have to do is collect money from each sale.
Blogs are less fashionable today and that’s good, there will be less competition. Why blogging is a great way to create passive income?
First of all, the blog requires a lot of work at the beginning between the creation of content such as articles, ebooks, training, email sequences,… referencing which can take several months.
But when your system is in place, your articles are well referenced and you have visits every day. You will have almost nothing to do, but the road is long and many get discouraged because they do not see the results immediately.
If you create a blog that addresses a problem or is aimed at enthusiasts, you can retain a community of readers and convert them into leads and offer them your offers later.
The blog, although it takes a long time to set up, represents a significant source of income. You can earn a few tens of dollars per month at 5 figure incomes per month.
Unlike the blog, the video becomes essential today to build an audience that follows you.
Or to sell your services, whether on youtube or with a webinar. Like blogging, building a targeted audience takes a lot of time. It depends on each, strategies used to acquire traffic.
The crossing of the desert is long but the game is worth the candle, because more and more people make a living from it.
What about compensation? who uses advertising as his main source of income, he will need a lot of traffic to hope to earn a salary.
On the contrary, for a marketer who uses the right strategies, who works on the referencing of these videos, who sells information products. He can earn thousands of dollars per month or even tens of thousands.
Whether it’s Youtube or blogs, you have to work well on your SEO to get views from people who are qualified and interested in what you offer. Your visitors must become your prospects using sales funnels.
One of the best ways to create passive income is membership.
Applying the strategies of the 95% of affiliates will not allow you to create a source of passive income. Affiliation is an easy business accessible to everyone, even beginners. Nevertheless, you have to know the basics of affiliation and build your selling machine.
This will take time at first, because if you want to create a real business that will generate income that will allow you to replace your salary or even more.
You don’t need to create products, take care of customer support, improve your sales page. This is the job of the affiliator, however you must only seek traffic and convert these people by recommending your products to them.
Affiliation can bring you a few dollars per month to more than €3000 per month, there is no limit. The only limit is you and the work put in place. Some have several niches, create several blogs and therefore several sources of income.
But to put all this in place, to know the strategies that work, I invite you to download your free ebook to explode your affiliate income thanks to recurring income.
Selling information products. The sale of information products has been booming in recent years. Indeed, it is enough to have a skill in a particular field and to teach it to other people through video training.
What makes selling information or “ training ” products is that once the product is created, you can sell it and keep all the commission for yourself.
The product is yours and if you already have an audience following you, selling training is easier than if you just recommend the product.
By setting up an automatic sales system, all you have to do is post a video or an article from time to time and build loyalty with your audience through webinars to show your expertise and remove all the barriers to buying. .
Unlike affiliation, you have to master several areas such as copywriting or storytelling. So you need to know how to write sales pages that sell.
There are of course other sources of passive income , but it doesn’t matter which business you choose. What matters is to bring value to your community and to put in your head that to have results you need a lot of patience and above all perseverance.