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Passive income ideas for beginners that you can work at home.
Have you ever toy with the idea of building a passive income source or two? May be time to start implementing that great idea. Bring more cash home using these simple passive income building strategies.
You may want to create passive income to have more control over your life or to pay off debts. Whatever your reasons, income streams that pay you passively can improve your lifestyle and build you some long term financial capital.
Passive income does require work or investment. Other things you need to build passive income are patient and some discipline. Patient is very important because creating a passive income source doesn’t happen overnight. It takes some time. You may even lose money at the beginning or at some point.
There are many ways to earn passive income by investing capital, you can read this article, How to set up passive income investments to gain financial freedom. But, if you’re wondering about using your talents and expertise to create passive income streams, here are some ideas.
What are the skills you need to create passive income with your talents and no money?
Think about the skills you have and try to come up with ideas that you have passions for. Stay away from things that don’t excite you because you won’t be able to maintain the commitment for the longer term.
For example, if you have a flair for writing and for doing craft projects, you can build passive income combining them.
You can start a blog and monetize it. Write an ebook or create an online course. The hard work is done upfront and you’ll collect the royalties thru the future.
Remember that the upfront work requires a big time commitment. However, you can move at your own pace, depending on your goals. Wether you move fast or moderately, the key to building passive income is persistence. The money won’t appear right away.
Passive Income Streams you can Build with your Talents
Affiliate marketing is when you refer a product/service to your audience and you get a commission when it is sold thru your channel. There are many companies using this marketing method to expand their customers base.
You’ll need a blog or a social media presence to successfully market a service or a product that pays commission. There are affiliate marketing program in every industry.
The companies generally go thru Affiliates Networks. Some of these include; Commission Junction, Shareasale, Affiliate Window, Flexoffers, Rakuten and Amazon Associates. You apply and join networks like these and get paid when customers buy the affiliate product using your channel.
Affiliate marketing requires a lot of work to set up. You need a medium to large audience to pitch the products. The pitch must be done using consistent content your audience finds useful. Useful generally means that you have solved a problem for the audience.
Even though affiliate marketing is not completely passive, once you’ve done the hard work and have a large enough following, the income can be very stable. After the initial set up of your affiliates, the work is less.
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2.Create an App for passive income
There is an app for everything it seems. But, if your app solves a specific problem for the user or is a good entertainment app you can still make money from the sales. Children apps are very popular, the ones priced at .99 cents.
If you have the technical skills, you can develop your app. However, there are app developers you can contract to to this for you. Don’t pick anything very difficult, start small with your app development. Keep it simple.
You can find app developers on freelance sites like Upwork, Toptal, Hired and Fiverr Pro. A good developer will have coding skills, business skills and the ability to predict problems with your application.
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3.Create an online course for sale
Online courses are particularly popular now a days. People want to learn at their own pace and from the comfort of their homes. If you are good at something, you can teach it and make money thru the future.
Teach music, how to play the guitar, the piano. Teach a subject like calculus or algebra, English. Teach computers, computer language, etc. At Udemy and Teachable you can search for popular topics to teach and see what you’re good and passionate about teaching. There are more teaching platforms you can use, those are only two of the most popular ones.
Create your course content, upload it to the teaching platform, make it your own and launch it to your audience, the students. The courses consist of videos, slides, text and images. Each platform has requirements that you need to follow. For example, Udemy requires at least 30 minutes of video for a course.
Which platform to use?
Generally, the platform that gives you more freedom is where you can potentially make more money. However, with the freedom comes more work, in terms of marketing and advertising.
4.Write an ebook
Create an ebook to make passive income with no money.
Writing ebooks requires less writing and work than blogging. If you’re into writing, consider creating an ebook. Ebooks are shorter than traditional books. The most popular ebooks are non-fiction. They are how to guides, lists and content that helps readers solve problems.
The subjects for ebooks can really be anything. Think about what you’re good at, what you like doing at work and outside work, hobbies, subjects you liked in school etc. Whatever you do, write about something you are enthusiastic about. This way your enthusiasm will come thru in your final product.
Amazon Kindle direct publishing, Nook Press, Lulu and Smashwords are among the many platforms where you can self publish an ebook.
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5. Sell Printables to get passive income
Printables are similar to ebooks, but with less text and more graphics. They are delivered in digital format, like ebooks. You need a blog or site to sell Printables because generally their themes are related to a larger blog topic.
Among the popular Printable themes are; workbooks, planners, invitations, design templates, spreadsheets and budgets, meal plans, coloring books, checklists and many DIY templates. If you are into designing using images and graphics, Printables may be a good way to monetize your blog/site.
Printables for sale on your blog should be related to one of your popular post. You can build a printable that provides more detailed about a specific subject, with added images and graphics. The target audience is the one reading the post and wanting to get deeper into the subject matter.
You can create Printables as documents and then convert them to pdf files to be printed. If you’re not the designer type, you can outsource the designs at sites like, Fiverr or Upwork.
You’ll need to set up a shopping cart on your blog to sell and collect the money for your Printables. Some of the sites handling sales transactions include; Shopify, SendOwl and e-junkie.
6. Set up a Membership site
A membership site is another way to further monetize an already exiting blog. You can leverage the traffic from your blog and offer more detailed content to subscribers of your membership site. Even if only 10% or 5% of your free blog readers chose to subscribe, you may be able to generate a profit.
The big benefit of this strategy is that you don’t need a new audience, you’ll just work with your existing one. You can price the subscription based on a monthly, quarterly or yearly fee. Offering discounts to loyal readers who subscribe for longer periods.
WordPress membership website – If you already have a WordPress blog, there is a plugin you can install on your blog to create a subscriptions based extension. The plug in is the S2Members for WordPress. This will allow your readers to chose to become paid members and received your more detailed content.
The bottom line with passive income is that it can pay off, but it requires work. For beginners, it’s important not to get discouraged when playing around with new ideas. At the end, you can set up one or more of these income streams. If all your ideas work out is great, but all you need is one idea to do well.
Passive income streams with your talents can be hard to build and time consuming at the beginning. However, passive income streams can free up your time, reduce financial pressures and create wealth. Income from passive sources has the potential to be lucrative, if you put the time into it.
For long term success, select a passive income idea that is fun and exiting for you. This way you can put all you got into it. If you have some money to invest in your idea use it, it can free you up to implement other ideas.