Do you ever come to life within the morning and feeling that the planet around you is crushing day by day and your repelling job keeps consumption you from within (if you even have a job) furthermore at the top of each exhausting day you think that at the rear of your mind if there's some way to flee from this hideous cycle to fairy tale of passive financial gain. Let Pine Tree State tell you it’s not a fairy tale.
Passive financial gain isn't extremely passive. It needs some direct work and nurturing at the start however when a while. it'll pay you on the far side your effort. this can be what's known as ‘’making cash work for you’’.
Here i'll write seven best proved passive financial gain ideas with their professionals and cons therefore you'll be able to add 2 or 3 or perhaps additional financial gain streams to your favorite list and work on those, beginning with the straightforward one and build many passive financial gain streams which will ultimately modification the sport for you.
Table of content
1. Dropshipping store
2. Sell digital products
3. Teach online courses
4. Become a blogger
5. Run an affiliate marketing business
6. Invest in the stock market
7. Print-on-demand store
What is passive income?
There are two kinds of income one-passive income and two-active income. The fact is Passive income is not passive, it requires some upfront work and nurturing at the beginning.
And when your business is up and running then there is very little work to be done once in a while like updating the content and such.
For example, you can write an ebook or create an online course.
Use the ideas I wrote for you and keep the money flowing. You will see that it’s true that you can make money while you sleep.
And never forget that passive income is also taxable but IRS often treats it differently than active income.
Dropshipping store
If you are into marketing and business, I think you will like the dropshipping idea. You are thinking like, Jubaer what is dropshipping? Ok, the dropshipping store is unlike a retail store in your local area. It’s a shop on the internet without you having any actual inventory, where your customer makes the purchase and the purchase details go directly to your suppliers and they do all the product packing and all then send it directly to your customer and of course in the meantime you get the extra money from the wholesale price.
Pros:
There are so many pros compared to cons so, I will just mention which you need know to right now.
~ You need very little investment.
~You don’t need any physical inventory.
~You don’t need to deal with product shipping.
~Unlimited products to test the market.
~You can work from home, all you need is a laptop and internet connection, so fun right?
Con:
The big con of all with dropshipping and all this kind of business is that it will take a long time to build an audience, without audience traffic you will have a poor conversion rate.
So to sum up, the fast you can build an audience fast you can scale up your website by giving value to the customer and once it is established you can make a ton shit of money for coming days passively.
Sell digital products
Digital products are an intangible piece of work that you can sell repeatedly online and sometimes offline too.
You only have to do it once like writing a kindle ebook, pdf, template, plug-ins, mp3, icon pack for mobile, or you can write a book and keep it on an amazon bookshelf then market it with the proper audience until it is known to larger people, then enjoy the money even while you sleep and as a matter of fact, you even can earn after 15 years of publishing that digital product from royalties.
Like I said earlier, there are many options you can choose from to make a digital product-
1. Ebook
2. Video course
3. PDF
4. Streamable and downloadable video
5. Printables
Pros:
~You don’t need any kind of inventory.
~You can have high-profit margins since it has almost no recurring cost.
~It is all automated so you don’t have to do any kind of physical work.
Cons:
The only serious problem you will be facing is competing with free content which are alternatives to your products, put yourself in the customer’s shoes, and think like them why you would spend extra bucks when you are getting the same thing for free.
To sum up, provide better quality than free content and build people’s trust and they will help you get to where you want to be.
Become a blogger
What is blogging? Well, blogging is when a person writes content about his or her niche to help the audience with informative and valuable content.
To help you to decide I would like, that you ask yourself a question and you will find the answer. Ask yourself- do you like to write content? Do you like to help others on a personal level?
If your answer is yes then I would say go for it.
Pros:
You can earn passive income from blogging by.
~Running ads through ~Google AdSense.
~Selling affiliate products.
~Selling your products.
~Selling services like consulting, etc.
~Personal branding.
~Email listing.
~At last, I want to say that you can even sell your blog 10* or 20* the revenue per month. Just imagine…!!!
Cons:
Every blogger faces this problem when they start, it’s the consistency. You have to post weekly for 2–3 months with quality content to get the result.
Buying hosting plan. For beginners who have no money, they have to struggle first.
To sum up, if you have those things that I mentioned earlier- patients, consistency, quality content then only a matter of time and you will be dominating your niche and make passive income.
Run an affiliate marketing business
What is affiliate marketing? Well, affiliate marketing is that you become a part of a company and you are promoting their product about your specific niche to an audience, and anyone buys that product from your referral link, you will get a 3/4%, etc. commission of that product.
Affiliate marketing is now growing rapidly. Statista shows that affiliate marketing is now booming.
Pros:
~It’s easy to use. You just market and all other things will be done by the company.
~It’s easy to join any affiliate program. Just give it some time to make an audience so the more people will click and buy from your link and you get a commission.
Con:
To be honest there is no con except time. If you can give people quality content and value them and promote good stuff then the sky is the limit.
To wrap up always keep in mind that nothing comes out of thin air, you have to build it over time by consistent commitment.
Teach online courses
Yeah, you can teach online courses if you are into educating. I’d say that you don’t need to be a teacher of college or any subject. If you know anything deeply and it would be great if people learn about it as you do, then take the time to outline your course and make a downloadable video then upload it on premium platforms like Udemy, Skillshare, etc.
Pros:
~You don’t need a website.
~You don’t need any inventory to keep the class.
~You don’t even need the audience, because if you make such good content then your course will thrive on those platforms. I promise you.
~You can even give one-on-one tutoring, live sessions, etc.
Con:
If I’m being honest with you then I must say that there is no con except the time you will be making the course.
Wrapping up so my friend! If you specialize in anything just make a course out of it and make passive income for a long time. And I’d say this is the best way to make money while you sleep.
Invest in the stock market
Get started
Open in app
7 Best Proven Passive Income Ideas That Will Change Your Life.
Jubaer hasan
Jubaer hasan
5 days ago·9 min read
Introduction:
Do you ever wake up in the morning and feeling that the world around you is crushing day by day and your disgusting job keeps eating you from inside (if you even have a job) moreover at the end of every exhausting day you think at the back of your mind if there is a way to escape from this hideous cycle to fairy tale of passive income. Let me tell you it’s not a fairy tale.
Passive income is not really passive. It requires some upfront work and nurturing at the beginning but after some time. it will pay you beyond your effort. This is what is called ‘’making money work for you’’.
Here I will write 7 best proven passive income ideas with their pros and cons so you can add two or three or even more income streams to your favorite list and work on those, starting with the easy one and make several passive income streams that will ultimately change the game for you.
Table of content:
What is passive income?
Dropshipping store
Sell digital products
Teach online courses
Become a blogger
Run an affiliate marketing business
Invest in the stock market
Print-on-demand store
Photo by Vladimir Solomyani on Unsplash
What is passive income?
There are two kinds of income one-passive income and two-active income. The fact is Passive income is not passive, it requires some upfront work and nurturing at the beginning.
And when your business is up and running then there is very little work to be done once in a while like updating the content and such.
For example, you can write an ebook or create an online course.
Use the ideas I wrote for you and keep the money flowing. You will see that it’s true that you can make money while you sleep.
And never forget that passive income is also taxable but IRS often treats it differently than active income.
Dropshipping store
If you are into marketing and business, I think you will like the dropshipping idea. You are thinking like, Jubaer what is dropshipping? Ok, the dropshipping store is unlike a retail store in your local area. It’s a shop on the internet without you having any actual inventory, where your customer makes the purchase and the purchase details go directly to your suppliers and they do all the product packing and all then send it directly to your customer and of course in the meantime you get the extra money from the wholesale price.
Pros:
There are so many pros compared to cons so, I will just mention which you need know to right now.
You need very little investment.
You don’t need any physical inventory.
You don’t need to deal with product shipping.
Unlimited products to test the market.
You can work from home, all you need is a laptop and internet connection, so fun right?
Con:
The big con of all with dropshipping and all this kind of business is that it will take a long time to build an audience, without audience traffic you will have a poor conversion rate.
So to sum up, the fast you can build an audience fast you can scale up your website by giving value to the customer and once it is established you can make a ton shit of money for coming days passively.
Photo by Nubelson Fernandes on Unsplash
Sell digital products
Digital products are an intangible piece of work that you can sell repeatedly online and sometimes offline too.
You only have to do it once like writing a kindle ebook, pdf, template, plug-ins, mp3, icon pack for mobile, or you can write a book and keep it on an amazon bookshelf then market it with the proper audience until it is known to larger people, then enjoy the money even while you sleep and as a matter of fact, you even can earn after 15 years of publishing that digital product from royalties.
Like I said earlier, there are many options you can choose from to make a digital product-
Ebook.
Book.
Pdf.
DVD.
Mp3.
Streamable and downloadable videos.
Pros:
You don’t need any kind of inventory.
You can have high-profit margins since it has almost no recurring cost.
It is all automated so you don’t have to do any kind of physical work.
Flexible products.
Cons:
The only serious problem you will be facing is competing with free content which are alternatives to your products, put yourself in the customer’s shoes, and think like them why you would spend extra bucks when you are getting the same thing for free.
To sum up, provide better quality than free content and build people’s trust and they will help you get to where you want to be.
Photo by John Schnobrich on Unsplash
Become a blogger
What is blogging? Well, blogging is when a person writes content about his or her niche to help the audience with informative and valuable content.
To help you to decide I would like, that you ask yourself a question and you will find the answer. Ask yourself- do you like to write content? Do you like to help others on a personal level?
If your answer is yes then I would say go for it.
Pros:
You can earn passive income from blogging by.
Running ads through Google AdSense.
Selling affiliate products.
Selling your products.
Selling services like consulting, etc.
Personal branding.
Email listing.
At last, I want to say that you can even sell your blog 10* or 20* the revenue per month. Just imagine…!!!
Cons:
Every blogger faces this problem when they start, it’s the consistency. You have to post weekly for 2–3 months with quality content to get the result.
Buying hosting plan. For beginners who have no money, they have to struggle first.
To sum up, if you have those things that I mentioned earlier- patients, consistency, quality content then only a matter of time and you will be dominating your niche and make passive income.
Photo by Austin Distel on Unsplash
Run an affiliate marketing business
What is affiliate marketing? Well, affiliate marketing is that you become a part of a company and you are promoting their product about your specific niche to an audience, and anyone buys that product from your referral link, you will get a 3/4%, etc. commission of that product.
Affiliate marketing is now growing rapidly. Statista shows that affiliate marketing is now booming.
Pros:
It’s easy to use. You just market and all other things will be done by the company.
It’s easy to join any affiliate program. Just give it some time to make an audience so the more people will click and buy from your link and you get a commission.
Con:
To be honest there is no con except time. If you can give people quality content and value them and promote good stuff then the sky is the limit.
To wrap up always keep in mind that nothing comes out of thin air, you have to build it over time by consistent commitment.
Teach online courses
Yeah, you can teach online courses if you are into educating. I’d say that you don’t need to be a teacher of college or any subject. If you know anything deeply and it would be great if people learn about it as you do, then take the time to outline your course and make a downloadable video then upload it on premium platforms like Udemy, Skillshare, etc.
Pros:
You don’t need a website.
You don’t need any inventory to keep the class.
You don’t even need the audience, because if you make such good content then your course will thrive on those platforms. I promise you.
You can even give one-on-one tutoring, live sessions, etc.
Con:
If I’m being honest with you then I must say that there is no con except the time you will be making the course.
Wrapping up so my friend! If you specialize in anything just make a course out of it and make passive income for a long time. And I’d say this is the best way to make money while you sleep.
Photo by Nick Chong on Unsplash
Invest in the stock market
What is the stock market? The stock market is a big thing to say in two sentences. So in a nutshell, the stock is a share or equity that you can buy from the market which is called the stock market, where companies are collecting the shares which people bought.
There are various kinds of stock or share you can buy but, if you are a beginner and want to invest your money in the stock market then you can buy a share from an index fund like S&P 500, etc.
Which is managed by a seasoned fund manager so no extra worries for you.
Pros:
~It is the easiest passive income compared to others.
~You don’t have to do any work at all.
~It almost doubles the money in 10 years without having to do any work.
Cons:
It takes quite a long time like 5–10 years
If you do not know certain things about the market and invest knowing nothing risks are you lose some of the money which is not good.
Create a print-on-demand store
Last but not least I must say if you love to design or art then you must go for print-on-demand store.
It’s like dropshipping because you just design white label products like t-shirt, posters, backpacks, books, after that printing company like Printfull, Shopify, does all the work for you like fulfillment and shipping.
Now you’re thinking man I don’t even know how to design or anything then let me tell you, you don’t need to, you just write text with stylish font, and photos sell it by the manufacturer, and earn passive income whenever the design sells.
Pros:
~You don’t need any inventory like a retailer in your area.
~You only pay after you sell.
~No shipping headache.
Con:
There is almost no con when it comes to print-on-demand.
It’s just with the manufacturer if they have a great return policy, quality product, fulfillment on time then all is well.
To wrap up, if you think that this will be a great idea for you, then investigate every reputable printing company there is and decide which is best for you then start your journey to passive income.
In the end, I want to say no matter what never lose your hope and always remember why you started.
Let me know in the comment section below which streams you chose and why did you choose.