Are you looking for an idea to generate passive income? If your answer is yes, then you have click to the right place. Below i will stated and explained the top 7 best to generate more money using one of these 7 passive income ideas. But first, i will start this blog post with the definition itself.
What is Passive Income?
Passive income means you would get paid over and over again for the works that you had put up in front. In other words, you make money while you sleep after the hard work and the crazy hours that you put before this. Sounds good right? Of course it is.
The question is how can I get this passive income? A good question indeed. There are a few ideas that I provided below starting from the easiest to the hardest one. Which I think is very useful if you want to generate your own passive income. So, pick one which is the most suitable for you and then go for it.
7 Best Passive Income Ideas to Generate More Income.
1. Renting Your Property
This is by far the fastest way to earn passive income when you rent you property. The monthly payment by the tenants will be your sources of passive income. To do this you have to own a property for renting. You can do it online or offline. For online, you can use AirBnb website that had millions of visitors every day. If you want to do it offline, you can advertise you renting houses at university, college or even at your workplace.
But, if you still don’t think this explanation is enough, you can proceed your reading at The Millionaire Real Estate Agent: It’s Not About the Money…It’s About Being the Best You Can Be! Or take an online course to learn how to create an online empire without owning a home on AirBnb.
2. Sell an E-book.
Yes, write your own e-book and then sell it. And that e-book, you would have to make sure that it has a lot of value in it. Make sure your e-books are trying to help peoples solving their problems not your financial problems. Whatever e-books you are trying to create, put value first and income is always the second one. This kind of passive income ideas are great if you are a writers, bloggers and content creators.
If you don’t know how to create an e-book dont worry because you can learn at How to make and publish an eBook. A simple guide yet so many valuable knowledge.
3. Create Your Own YouTube Channel.
If you happen to like talking and sharing than this is the best place for you. You can share about anything such as tutorial, music, opinion, movie reviews, cars reviews, pranks and many more. And yes, you can see that a lot of YouTubers making a lot of money through YouTube and most of them started from just a regular guys. If they can do it, why can’t you? By the way, you will get your money every time people watch your videos. The last time i heard, for every 1000 viewers you would get 2 dollars.
If you want to learn how to create a great YouTube video and don’t know where to start, check out Content Inc.: How Entrepreneurs Use Content to Build Massive Audiences and Create Radically Successful Businesses (Business Books). A book written by one of the best content entrepreneurs named Joe Pulizzi who turns zero to million dollar company with content marketing. But, the most important thing is that Joe will guide you from what kind of ideas you are born to create for your YouTube channel until how to grow your audience online.
4. Design your Own Brands and Sell it Online.
For examples, you can sell your own design t-shirts, mugs, caps, and many more. Not to forgets, now you can even sells your brands through social media especially Instagram and a lot of people are making a lot of money from it. The good example for this kind of ideas is Live Fit Apparel.
In fact, creating your own brand is easier than you think because the hard part would be selling it. But, if you don’t know where to start, below is a YouTube video on how to create and sell your own t-shirt brands. Check it out. BTW, the video starts at 4.50 min, before that the guy were just story telling how sick he was. LOL.
5. Create a Podcast Channel and “Create an Interview with Expert Series”.
This is a good way to start your passive income. The good things about PodCasting is you don’t need a lot of money to start and you can interview with experts in your own country. So even though you would see a lot of people interviewing with experts, if you are focusing on specific niche and places such your own country. You would create your own tribe for that specific niche and locations.
To get a head start you have got to take your time and listen to what the professional podcaster,Pat Flynn are saying:
6. Create a Blog.
Because nowadays, writing is a very great medium to share and express you knowledge as well as your concerns through out the worlds. Writing can make you becoming a thought leaders in your specific niche or industry. There is a lot of ways you can create blog such as by using WordPress.org and WordPress.com.
Not to forget,we can even leverage our blogs and writing by using Facebook, Twitter and Instagram. And when you traffic started to increase, only then you can start to generate income. You can sell your products or services, you put ads at your blogs or join an affiliate marketing services. In fact, you can do almost anything to generate passive income with a blog but only if you have a lot of traffics. The trick is your blog must provide values to the readers first!
Here’s a video on how to create you own blog today.
7. Create your Own Company or Business.
When you have a good ideas no matter how big or small it is. It is a good thing you pursue it and working hard to make it happens. Although, this ideas is by far the hardest one of all the seven ideas. Because creating your own business is not an easy job. In fact, you are the one who will provide the jobs and become your own boss. In other word, you will be joining the You Economy. However, it would be best if you started to do it part time and then go full time when you are more ready with it.
Note to readers: All of the passive income ideas are not going to happen and become successful automatically when you started doing it. All of these ideas will takes a lot of time to generate a sustainable passive income monthly. So expect the hardship and respect the efforts.
You have to try it out man! Totally worth it. And if you need more tips to create a smart passive income check out Pat Flynn 10 tips to start generating passive income. The first step to enter this path is to learn more about what industry are you going to choose and learn about internet marketing. These knowledge are the one that will make you thrive in this business not your college degree, not your master and certainly not you PhDs scroll. Trust me. You don’t need a Degree with honors, a Master in MBA or two PhDs to be successful in business. But, it is all up to you. Are daring enough? I hope you do!