How You Can Create Passive Income- Just in Case

Updated: Jan 12

I remember back when I was working paycheck to paycheck. Those were the times where any bit of money, no matter where it was coming from…mattered….A lot.

When you have children, it mattered even more.

So when I got introduced to a way to create some passive income, I become interested.

But, I really didn’t take it seriously until $50 monthly started coming from one of the companies I had just “recommended”.

I remember how happy we were to get it and that it meant we had dinner that night.

So, when I say that everyone should have at least some kind of passive cash coming in, I'm not joking.

And it's all doable.


Why you need passive income


Multiple income streams can cover any revenue gaps, whether it's your 9 to 5 or your part-time business. However, you need to invest considerable time and effort to start earning money as a side hustle.

You should pick the right source of passive income. What I mean by that is, you must like it AND it needs to suit what you will be teaching in your niche

Here are some of the passive income ideas for your online business that you can start.


Become a Blogger.

Blogging can be a very lucrative hobby. If you are into writing and have no inclination to be on video then blogging is for you.

Blogging can lead to various passive income activities, including but not limited to: sponsors, affiliate marketing, selling your courses or other people's courses, and more.




eBooks

Publishing an eBook enables you to generate income to save your business while showcasing your expertise. Platforms like Amazon Kindle Direct Publishing (KDP) provide a convenient way to reach hundreds of thousands of readers from around the world.

You can talk about your subject matter expertise to publish bestsellers that can bring in some cash. Some authors who opt for self-publishing sell millions of copies. The best part is that an eBook can still generate a significant amount of money even when it is not a bestseller.



Be a YouTuber

Becoming a Youtuber is another viable source of passive income to supplement your core solopreneur activities. Studies have shown that many people prefer consuming content in video format to reading text. You can capitalize on the popularity and monetization opportunities offered by platforms like YouTube to reach viewers.

Some YouTubers with thousands of subscribers earn a decent income. YouTube allows you to monetize the content with PPC ads. Additionally, you can maximize earnings through sponsored posts and affiliate links.


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Create Courses

Online courses can generate more income than publishing an eBook. This is a great option for solopreneurs involved in the coaching business or consultancy space.

Once you invest the time and effort, you will start earning income over long periods. An online course requires little or no maintenance to keep generating revenue for many years. Udemy is a popular platform for publishing and selling online courses.

There are also many platforms that range from free to a fee. I prefer Membervault.

>>>>>>>>Check out Membervault Here




You get a lot of good stuff for free. It has a wonderful Collaborative FB group and courses to help you do what you need to do with Membervaults help.

If you are interested in creating courses right now- Then I suggest the course: Lightening Fast Courses.


Affiliate Marketing

Use your website or your blog (blog preferred) to share affiliate links. In other words, recommend other relatable products.

This will also allow you to promote your own specialty services.

.You can opt to promote affiliates directly or via networks, such as Amazon Associates, ClickBank, and Commission Junction (CJ).

Just took a course or know a friend that is selling a course. Find out if they have an affiliate link and promote it with a blog post or your email list. This really works if it goes along with what your blog is about.


Podcasting

Recently, podcasting listening is through the roof. So many people are now tapping into the market by producing content for a captive audience.

You can market your online business more by publishing pre-recorded content to podcast hosting platforms. Doing so creates an opportunity to monetize the content via podcast advertisements, sponsorship, and affiliate marketing. Some podcasters maximize income by launching membership sites. This approach eliminates the need to pay commission or fees to podcast hosting platforms.




What to do next:

What you should do next is concentrate on 4 ways to expand your online business with passive income

  1. See if any of the courses or products that you have used or taken recently that you have learned from provide affiliate links

  2. Check to see if any of your friends would like to partner with you and provide an affiliate link.

  3. Look on Clickbank, Warrior Plus, JV Zoo, or Commission Junction to see if there are any relatable products that you can recommend.

  4. Start filling your calendar with promotions and use Social media to help you with recommending products.

By embracing passive income streams, you are sure to keep your revenue coming even when business is slow or you are out of work. What products do you use that have affiliate programs? Share below!

Grab Your Free Blogging Planner with this link!

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