Simple Ways to Create Passive Income Online
With more people worried about money these days, it’s a smart idea to master the art of creating passive income online.
First thing you want to do is decide on a niche. What do you love? It could be cooking, fitness, self improvement topics, crafting, gardening, DIY… just about any topic that butters your biscuit or floats your boat.
(Either biscuits or boats would make a great niche blog topic, by the way.)
If you’re not sure about this, just think of the types of articles that you’re drawn to online and the hobbies and pastimes you readily seek out for yourself.
Let’s say you’re at a party with friends. What subject lights you up? What could you talk about endlessly? That’s your niche.
Now let’s simplify the process of becoming a niche blogger so you can create passive income over time.
Start by making yourself a blog, a business page on social media to match the blog, and also get signed up for an email manager like Aweber.
The next big hurdle is learning how to post to the blog, and creating sign up forms for people to sign up for your list. (You already know how to email, you just have to get comfortable with logging into this particular program and doing it.)
You also need to set up a bank account that you can use with websites like PayPal and Stripe. You don’t want to mess around and give them your personal bank account or your savings account. Open business bank accounts just for these purposes.
If all of this sounds overwhelming, it’s okay to take it slower. No business was created overnight, after all.
Just start by sharing content.
Begin by writing or obtaining paid content that comes with permission to edit to share on your blogs. This is called private label content.
There’s a lot of private label content out there. I’m actually a writer of this type of content and I can steer you in the direction of people who supply good quality articles and images with private label rights.
After you get into a groove of posting content to a schedule, think of how you can monetize it.
What can you sell on your blog?
- Physical products, for example as an affiliate of Amazon or Etsy
- Digital products, such as ebooks, courses and email Autoresponder series.
Whose products can you sell?
- Ones that you create yourself
- Ones that you sign up as an affiliate for which other people have created already
What about offering services?
Yes, you can offer services, but this is not so much passive income. It’s actually direct income because you’re being paid to perform a task or series of them.
Passive income comes in through a side door.
You could be sitting there doing nothing when out of nowhere, a person stumbles on a link that you shared which is tagged with your affiliate ID.
All of a sudden, boom, you’re getting paid 200 bucks this week. If you have a ginormous list and following, that number could be much more.
Paid advertising is also another way to generate passive income.
Put pay-per-click ads on your website and then make sure to get a lot of followers by posting amazing content.
Once you have thousands of followers and you post something good, when people click you get a small payment. This may not seem like much, but these do add up.
If you have trouble appreciating small payments, think of your bank and how they take a couple dollars here and there from everyone in “fees.”
The real key to making passive income online is to turn your competition into collaborators.
The best piece of advice I can offer anybody who’s looking to create passive income online is to stop viewing all those other people who do what you do as your competition.
There’s a huge emotional component to this. It means toughening up and not letting fear rule your business decisions ever again.
It’s very easy to direct web traffic from here to there. You are literally controlling the flow of your money by doing this.
Flow subscribers in the direction of your competition. Then launch something awesome and get them looking at you again.
You don’t probably know much about this, but eventually you’ll get the hang of it and that is when you will start to see some good amounts flowing into your bank account that show up just randomly out of nowhere.
People who have worked online for a long time understand this collaborative spirit.
When someone else launches something that seems like your idea, you will no longer view them as a foe or enemy.
Instead, you’ll see them as someone who actually can make your life potentially easier and more lucrative, because you are an affiliate of what they create.
As collaborators, also known as the JV in some cases, or joint venture, your teaming up and compounding income by putting your heads together.
When your would-be foe creates something, you simply show the people on your list what they have created. Tell them hey, check this out; this is a great price for a great product.
Then when your people purchase from the other guy who does what you do, you make a percentage of the sale.
Always be growing your list.
To continue growing your list, keep on posting great content and offering freebies that entice people to sign up.
Connect with your readers via email by offering them valuable bits and pieces of info. From time to time, hit them with a great offer they can’t refuse. And that’s when you hear the cha-ching.