Real ways to make money from home for free
What is the passive income?
Passive income, also known as residual income, is money you earn while you’re not actively working.
Instead of trading your time for money — as most people do at their 9 to 5 jobs — passive income is all about having money trickle in even while you’re not there.
In other words, passive income is where you get paid over and over again for work that you did once.
By choosing the right type of passive income, you can invest your time the way that you want to. It is a way of buying back more time.
There are so many opportunities out there to make passive income that is bound to fit your passion, experience, or skill-set.
Passive Income Vs Active Income
The most basic of money management principles is to make sure that you have more money coming in than you have going out.
This is vital if you want to find financial success. Of course, this means that you need to have some sort of income.
Understanding where your money comes from is important, and you should know the difference between active income and passive income. More. 10 Passive income Ideas
Active Income
Most of us are familiar with active income. This is income that comes from our active efforts to earn money. For many of us, this includes working at some sort of a traditional job.
Active income can also come from the efforts you put forth to make money with a side business, or by doing odd jobs.
The main reason active income is called “active” is due to the fact that you have to do something. Often, that something requires a significant expenditure of time or effort.
Even if you make money by sitting in an office all day, you may find that you are still engaged in active-income, since you have to go through the process of getting to work, and then you have duties to perform.
Pros (assuming you're employed)
Stable as you get constant streams of cash flow on a monthly basis.
Easy to apply for a mortgage as you have salary proof. Have medical coverage for your family.
Other subsidies (e.g. children’s education fee) that your companies provide
Reputation if you work in famous companies
Cons
No autonomy as you have to do what you’re told, always follow your boss’s instruction even though it doesn’t make any sense or sounds stupid.
No time as you have to spend a lot of time working.
Sacrifice your health because of the long working hour or stress.
Even if it isn’t physically strenuous, it might be mentally challenging. Even a tedious job that is not challenging in any way can actually be considered “active” since it is quite draining to go through the day in such a setting.
Passive Income
On the other hand, passive income is earned when you put your money to work for you. Many also consider passive income to be income from activities that you do for a short time (the set up) but that requires very little else to maintain the income flow.
For example, you might spend some time putting together a website with affiliate advertising.
It requires some upfront time and effort, but after a while, there is no need for you to put in a great deal of time. The money flows in with very little continued effort and oversight on your part.
Passive income can also come from investments. Dividend stocks and bonds are popular income investments. You put your money in (or set up an automatic withdrawal), and you earn money from dividends or from interest.
There isn’t a whole lot you have to do beyond checking every so often to determine whether your income investments are performing as you like. The money comes in, but you aren’t doing much.
Pros
Have full autonomy to do whatever you like or make your dream come true.
Have a time that you can enjoy the precious moment with your family
Can get back control of your health as you don’t need to work for a long period of time (of course, you have to have discipline with diet and exercise)
Cons
Income may not be steady enough at first (especially if most of your passive income come from investment or business) but this can easily be overcome over time and effort.
Transitioning into a position where passive income provides more of your earnings is a worthy goal since it will leave you time to do the things that you want to do. Track your income, as you track your spending, and learn what you can do to improve your cash flow.
the importance of passive income
1. Freedom of time
All things considered, time is our greatest asset. In fact, time is far more valuable than money.
While money can be spent and earned, time can only be used up just once. After that time has passed, it’s gone forever. You can never physically relive that moment again.
This is why passive income is so important — because it gives you the freedom of time.
When you’re less shackled by the necessity to earn just to meet your monthly financial obligations, you have the freedom of time.
This doesn’t mean you have total freedom from all of life’s obligations; it simply means that you have the flexibility that comes along with not having to struggle to make ends meet at the end of the month.
As long as you can ensure that your passive income outpaces your monthly expenses, you’re free to spend your time as you choose. With each new passive income stream, your revenue eventually far surpasses your expenses and you ultimately attain true financial freedom.
When you have freedom of time because you’re not engaged in active-income work, you’re free to do as you please.
You can choose to travel the world and become a digital nomad. You can choose to settle down and start a family. You can engage in work related to creating additional passive-income streams of
revenue.
The choice is yours. You have the freedom to choose because you have the freedom of time. That’s the power of passive income.
2. Freedom to earn, anywhere
When you have passive income, you can pick up and hit the open road. You can head to a city like Chiang Mai, Bangkok, Berlin, or just about any other place on the planet, live and work.
You can exist for peanuts on the dollar compared to most other major metropolises around the planet. But you don’t need to stay. You can continue to wander after just a few months.
And why not when you have the financial ability to do so?
Still, it’s easy to not put passive income as a priority when you’re so actively concerned about the day-to-day. Rising above that is difficult. But you just need to set a goal, focus, and move towards that goal with persistent action on a daily basis.
There is light at the end of the tunnel. It will take you time, but you’ll eventually get there. It all just depends on how badly you want it and how important it is to you at the end of the day.
3. Peace of mind
There’s nothing worse than having the pressure that comes along with an inability to pay your bills. It causes anxiety, fear, and overall hopeless desperation for the future.
The what-if scenarios begin to encircle your mind, like a hawk flying above its prey prior to swooping in for the kill. It does a number on you mentally, physically, and spiritually.
It emotionally beats you up and destroys your hopes and aspirations.
Anytime we live in dire fear of the future, it’s hard to be present. It’s hard to enjoy what we have in the here-and-now because we’re so tied up with those doomsday scenarios.
We’re so worried about an impending fiscal collapse that it’s hard to extricate ourselves from the shackles of that train of thought. It consumes and becomes you. It’s hard to get away from that when it’s all you can think about.
Passive income helps to alleviate all of these worries. It helps to put fears to bed because you aren’t worried about losing your job or being the byproduct of corporate downsizing.
When you don’t have to worry so much about impending financial doom, not only do you feel better mentally and emotionally, but it translates into physical vitality.
You have more energy and are more motivated to get out there and achieve more because passive income also helps to build that all-important financial momentum in life.
4. You can pursue the things you love
We all have things that we’re passionate about doing in life. But we always seem to put them off for later.
Whether it’s art or music or travel, we can indulge our fantasies when passive income frees us from debt that tethers us to the never-ending cycle of payments and interest.
It allows you to exit that proverbial rat race by elevating you above all the things that worry so-called “normal folks.”
It also frees you to produce an active income by following your heart. When your passive income outpaces your debts, why not get involved with a project that you care deeply about?
Maybe you want to help out at a homeless shelter downtown that can’t pay you.
Maybe you want to teach your neighbor’s son piano lessons and they can’t pay you much. Whatever it is, you can do it because you’re not worried about the paycheck.
It doesn’t matter what you’re passionate about, you can do it. If you want to take a language class for a few weeks and study full time, you can.
When you want to go camping with your kids for a full week, you can. You don’t need to worry about calling in sick or taking time off from work. You’re your own boss.
It’s the dream of those out there that wake up every single day dreading another moment of work that totally and utterly bores them.
5. A platform of stability and growth
When your income is automatic, and you don’t need to worry about meeting your expenses at the end of the month by exchanging your direct time for money, it allows you to think and explore new ways to further strengthen your financial stability and to grow it.
It gives you the time to research things like taxes, stocks, and other investments.
This helps to create fiscal clarity in your mind, fueling you towards your financial goals.
It’s easier to train your focus on your finances when you’ve not pulled in so many other directions. While problems can and still will arise in your life, financially and otherwise, you’ll be better prepared to deal with them.
Without having the obligation of rushing off to a job you dread every single day, you can train your mind’s eye on the things that will provide you with greater growth and prosperity over time.
No matter how you look at it, the importance of passive income is paramount. Many people discount it because they either don’t understand it or don’t think that having a passive income that exceeds your expenses isn’t an attainable goal. Well, whatever the mind believes, the mind can achieve.
That’s as true for passive income as it is for anything else in life. Believe it wholeheartedly with your spirit, and you can accomplish it. As long as you don’t give up.
The 2 Ways Of Generating Passive Income
If you read a few stories about passive income ideas, you might be under the impression that you can start a blog or write an e-book and two weeks later you will be raking in $20,000 a week.
Sorry, it doesn’t usually work that way. Creating multiple income sources is definitely not a short-term strategy.
While some people make a great living from one form of passive income, it’s more common that you will have small amounts from a few different sources coming in.
Choose a few things that sound interesting to you and try them out. Try to choose a few that do require some work as an e-commerce site and some that don’t like buying dividend-yielding stocks.
Something will emerge that either you enjoy the most or are making the most money. Focus on that thing. Put some time and effort into it.
We all hear stories about blogs making thousands of dollars a month but what we don’t know is how much time and effort went into that blog before it was able to break even, never mind make money.
Passive income doesn’t magically drop from the sky. It is generated from existing assets. And no matter what those income-generating assets are, there are only two ways to build them:
Invest Money
Investing more money than your time and effort
If you are sitting on a bunch of idle cash, you can put that cash directly into an investment. These types of passive income streams usually require minimal effort.
Think of them as a way to “put your money to work” to generate returns for you in the background.
Examples:
Invest in dividend-paying stocks
Invest in real estate investment funds (REITS)
Buy your first investment property
Peer-to-peer lending
Start a Promising business with a large initial startup.
Invest Time & Effort
Investing more time and effort than money
If you don’t have a lot of extra cash on hand, you will need to manually work towards building your passive income asset.
There may still be some monetary costs involved, but the bulk of your investment will be time and effort. The long-term rewards may be higher.
Examples:
Affiliate marketing and Display ads
Start a YouTube channel
Start a blog
Start making apps
Start a small business with low cost
Passive Income Invest Money
1. Dividend Stocks
Dividend stocks are tried and true way to earn passive income. You will have to do plenty of research to find good stocks and invest a significant amount of money to receive large dividend checks.
However, if you consistently invest money into dividend stocks you can amass a nice residual income over time.
For any of these investment opportunities, make sure you open an account at the best online brokerage and get rewards while doing it.
Even though it’s one of the oldest and un-sexiest passive income strategies, there is something to be said about investing in stocks that pay quarterly dividends. This is one of the best ways to easily generate passive cash flow without much work.
As the old saying goes, when you buy stocks, you do it with the hopes of “buying low and selling high.”
Dividend stocks work the same way, but with one other benefit: just for owning the stock, you are paid a small portion of the company’s earnings in the form of a dividend. With these types of stocks, you get paid when the stock goes up in value, and when dividends are paid out.
Let’s say you buy shares of Colgate-Palmolive stock. Not only is the stock price likely to rise over time, you’ll also get paid for each share of stock you own.
Over the past seven years, Colgate-Palmolive has paid between $0.34 and $0.68 each quarter for every single share owned by stockholders.
2. Real Estate Investment Trusts
Many people consider investing in real estate to be the ultimate form of passive income.
In an ideal world, you can own a piece of property that generates income via rents and appreciates in value over time, therefore producing excellent returns. The problem is, traditionally, you often need a lot of upfront capital to get started.
Nowadays, there’s a way to invest in real estate while not dropping hundreds of thousands of dollars on a single property:
3. Real Estate Investment Trusts
A real estate investment trust (REIT) is a pool of money from many investors that are managed by professional real estate investors.
The money in the pool goes towards investing in real estate. Investors put money into the REIT, the REIT buys properties, and the returns are disbursed back to investors.
The best part is that you don’t have to worry about handling the landlord duties — it’s an income stream that is truly passive.
4. Buy your first investment property
Real estate is one of the best passive income strategies. It has a significant place in the world of passive income but a lot of people just think of it regarding rental property, and that is out of reach for many.
If you’re young and you’re looking to purchase a new home to live in, maybe you should consider turning your first home into an investment property. While most people wait until after they’ve bought their first or second home to begin investing in real estate, you could start much sooner than you think.
We’ll explain why jumping into the real estate investing game might be a good idea.
Many people, especially in the wake of the mortgage crisis, have found themselves wondering: “Is buying a house a good investment?”
One way to ease your worries about whether buying a house will pay off is by renting out the first home you buy. By turning your home into an investment property, you can leverage your less-than-perfect credit, less-than-perfect lifestyle, and limited responsibilities into an investment. All it takes is a few smarts and real estate shrewdness.
Having the right property only appreciates in value over time, what you spend on today, might rise in value 3 folds in the next 10 years. Better yet, you can even rent out that property and have your tenants pay you rent, which in turn you can use that cash to pay off the mortgage on the property.
It's a 2 in 1win, where you get to pay off your property mortgage with the rental fees and end up getting the property in the long run.
5. Peer-to-peer lending (p2p lending)
Peer-to-peer lending, more popularly known as P2P lending, is the online financial framework that connects lenders and borrowers on an online platform without a bank acting as the third party.
This lack of intermediaries, and subsequently the lower costs involved, make P2P lending an attractive investment opportunity.
Lenders get a higher interest rate than other conventional modes of investment and borrowers can get loans without the myriad of paperwork and collaterals usually required. Even though the online portal usually charges a fee, it is quite nominal and is worth the service they provide in return.
P2P lending is also a good way to earn passively.
6. Start a Promising business with a medium ranged initial startup
Here are some bright startup ideas for businesses you can do.
1. Create a Guide to Your Local Area
When entrepreneurs start businesses these days, they seem to think they have to jump into these high-tech ventures with investors, pitch decks, and prototypes.
But, you can start simple and be very successful—especially if it’s your first venture. Stick with what you know, and for most of us, we know what’s close to home. So, start a blog and social profiles that highlight the attractions, restaurants, events, doctors, services, and organizations in your local area.
Get active in local events in real life and in online groups and chats about your community. Ask businesses to purchase advertising spots on your site, and be ready for local businesses to start asking you for your rates.
2. Dropship from Manufacturer to Customers
The reason is high-profit margin and low cost to startup. Whenever you get paid and receive an order from customers, use that money to buy the products from the manufacturer and send them to your customer.
You don’t need to own your products, invest lots of money, or keep inventory. To begin with, find the products and their manufacturers that are willing to dropship for you. Integrate your website with a Shopify account ($29/month), import your product into the website, and customize it.
Drive traffic to the website and focus on marketing your customers, e.g., using coupon codes, free shipping, or retargeting.
3. Develop Your Own Food Shack
Fast food is probably the most necessary item that we grab on our way every day. Buy a used cargo container, refurbish it, and open a food shack in that container.
Do some welding work on that content according to your plan and paint it to give it an attractive look. Arrange some chairs on the top of the container, set a small staircase to provide access to the top, and start selling hot tasty foods.
With proper permission, place your food shack container roadside of any busy area and within a few months, your investment will be back in your pocket.
4. Create a Startup that Supports the Gardening Industry
A startup that allows gardeners to trade plants and vegetables grown locally. Something like this would be great for the gardening industry because many gardeners want to support local farmers, and this would be a simple way to keep money within a community.
Start with a group of gardeners and partner with a local farmer for added reach and promotional value. Then, hire a developer to put together an easy-to-use app that will connect users. It’s all about building a sense of community.
5. Provide Temp Assistants for Wedding Coordinators
A great startup would be an app or company that supplies a list of qualified assistants for the wedding industry.
These people would have profiles with their photos, experience, areas of expertise, etc. I’m a wedding planner and constantly looking for assistants and help.
My colleagues—from florists to designers to caterers—all say the same thing: how difficult it is to find reliable, honest, and hardworking people. To start the business, a website would be needed where assistants can create a profile, provide a photo, resume, the area they live in, their availability, and reference areas of experience.
Businesses would be able to post jobs/gigs they need help with, where they are located, etc. This model could start in one city and easily be replicated across the country.
6. Get Paid for Your Skills or Talent
From my point of view, the best startup business idea is to start getting paid for your expertise, skills, or talent. We all have something that we do better than others, or some special skills, or a unique talent. And most of the time, people are actively looking for that expertise, skill, or talent and are ready to pay for it.
The most important thing, though, is that your expertise, skill, or talent solves a problem. For example, you could coach aspiring entrepreneurs on how to build their own websites if you are a website designer. Or you can teach people how to look better on camera if you have experience on TV.
The best thing about starting this type of business is that the cost is really low, and when you find your first client, you already have a proof of concept and you can then use that money to reinvest in your business.
7. Start a Professional Service Marketing Entrepreneurs
Equity crowdfunding, a process that allows almost anyone to participate in funding a startup, is now one year old.
So far, various online fundraising platforms have raised about $40 million across 335 companies. While this may seem fairly unexciting relative to the explosive growth in venture capital financing (a venture capital investment is often larger than $40 million these days), the upside for equity crowdfunding is enormous.
There is an obvious opportunity to create a professional service that helps entrepreneurs raise money to better market themselves. Looking at WeFunder (the top fundraising platform today), most fundraising pitches are missing a lot of important details and are not particularly persuasive.
Many companies looking to raise money through equity crowdfunding are brick-and-mortar businesses that are routinely ignored by technology-focused venture capital funds. Anyone looking to create the investment bank of the future needs to jump into this opportunity.
8. Begin Your Startup as a Home-Based Business
By starting a home-based business, people can reasonably save $300 to $700 a month in taxes. It doesn’t matter what type of business you choose, but select something you can be passionate about. Making your hobby into a business is a great idea! You will love what you do and be diligent about working it.
And fortunately, there is absolutely no law that says working for a living cannot be fun. However, you must be careful to operate your business as a business and no longer treat it as your hobby.
9. Hire Skilled Individuals and Start Your Own Translation Agency
The United States is a melting pot of a variety of cultures and languages. To start your own translation business, you only need to find individuals with the right skill sets to work with.
Make sure to do ample research and prepare a business plan that will help guide you with all the necessary requirements, including the funding you need to get started. Check out this guide, which explains what you need to know about starting a translation business, including insider tips to the industry.
10. Turn Your Passion for Travel into a Business
Home-based travel agencies are popular nowadays, harnessing the power of social media to promote and get more clients. There are ways to start your own that will already include the necessary support, tools, and licensing you will need at a fraction of the cost. If you love to travel and have a knack for finding great deals online, this business should be perfect for you.
11. Provide a Local Grocery Delivery Business to Your Community
You’ll find there’s more than one way to start your very own grocery delivery business, and it all depends on how big you want it to be. What’s great about this business idea is that it’s easy to scale and you can start with just your own car, mobile phone, and a basic website.
Once you’re ready to expand, you can start upgrading your tools and equipment. You can even get your own app. Read this article for more tips to get your grocery delivery business going.
Create online content and display ads
Have you ever wondered how YouTubers, bloggers, app developers display ads in their content? Yes, those annoying ads you get from time to time when you want to watch a video or click on a button. Those ads are actually revenue for content creators to earn their income.
In other words, when you have a blog, a website, a youtube channel, or have your own apps, you can monetize them and start earning passive income from your content, so long as your content is monetized, useful, and relevant to the public.
How this works is that when we run be it a blog, a website, or perhaps create mobile apps, we are actually creating content for the public. These contents can be platforms for us to display ads.
Here is a flow of the process of how it works:
- 1. We create content that is available to the public.
- 2. We register and monetize our content via any advertising company (Google Adsense is the most popular).
- 3. Ads are then displayed in our content.
- 4. When someone engages an ad in some way, then you get a percentage of the revenue that came from the advertiser who paid for that engagement.
- 5. We then earn a commission from the earnings.
What is Google AdSense?
Google Adsense is the most popular because Adsense has the largest base of advertisers, making ads very relevant and competitive.
The majority of Internet users are probably aware of Google AdSense but for the sake of keeping beginners up-to-date here is a quick overview of the program and major benefits:
It is owned by Google
It’s a major source of income for Google. In 2015 earnings from AdSense were $15 billion which represents around 23% of Google’s revenue (Updated December 2016).
It is free for publishers
Advertisers use the Adwords program to advertise their products or services on AdSense websites. They only pay when someone clicks on their ads (PPC – Pay per click)
Publishers receive 68% of the revenue and Google 32%. For example, if an advertiser pays $1 for a click then 68 cents will go to the publisher and 32 cents to Google.
The cost per click calculation is based on an auction type system
It is very easy to use
It is the most reliable advertising platform on the Internet today and can generate the most revenue for publishers (compared to other similar PPC systems)
AdSense besides content websites is also available for games, videos, mobiles, and search products.
2. Affiliates Marketing
Affiliate marketing is an income idea that requires you to have a website or platform you can use to promote other companies, or “affiliates.” When someone uses your affiliate link to purchase a product or sign up for a service, you get paid.
Now you have your content but you might not be sponsored by the brand.
Often you can sign up for an affiliate agreement, or a referral agreement with them, where they pay you a small commission for every sale that you generate.
And so you don’t have to have an official arrangement with the brand but you can still do that, talk about the products and services that you would otherwise want to talk about anyway.
And then just send your audience to go click the link in the description to learn more about it.
It sends a tracking link to the website and then if you do lead to a sale, then they’ll pay you.
Just make sure that if you are going to do brand deals or affiliates in your videos, you’re giving full disclosure about your relationship with the advertiser or the sponsor in the video, in the description, and also, make sure you check the little box under the advanced tab of your video saying that your video contains a paid product placement.
Hotelscombined affiliate program and Travelpayouts affiliate program gives commission towards publishers that help generate traffic towards their websites, which in turn could end up using their products or services.
Start a YouTube channel,
If anyone tells you that it’s too late to jump on the YouTube bandwagon, ignore them. Ask anyone, it'll be rare to find someone who doesn't know what Youtube is since the vlogging culture has skyrocketed in the last few years.
Today, YouTube is the second-largest search engine in the world, next to Google. Statistics from this year show that the total number of people who are currently using YouTube is 1,300,000,000.
However, before you dive into the process it’s important that you are aware of what will be required of you if you want to maximize your success.
Just about anyone can create a video and post it online, but if you want to gain a steady increase in followers or at least publish decent content that gets a good number of views and likes, you’ll need to do more than just become a contributing member on YouTube.
Here are some things to consider before venturing into the world of Youtube as a content creator.
- 1. What’s Your Motivation for Starting a YouTube Channel?
- 2. How Frequently Will You Upload Videos to YouTube?
- 3. YouTube Success Requires Substance and Style
- 4. What Equipment Does a YouTuber Need?
- 5. How Are You Going to Promote Your YouTube Channel?
- 6. What Kind of YouTube Channel Are You Making?
Start Your Own Website or Blog, 10 Ideas
Here are some reasons why you should start blogging:
1. You Can Make Money with Blogging
You must have been heard or seen people who are making a lot of money by just blogging. Yes, it's possible to monetize your blog. It takes time, but once you have enough readers you will start making some small, yet passive income.
As time goes by, your traffic numbers will increase as well as your income. I'm not only talking about some few hundred dollars a month, but many people also earn their living from blogging.
2. Blogging is Easy
Yep. Blogging is actually really really easy. The hardest part is setting it up, but basically if you are able to write emails, then you are also able to run a blog.
With WordPress, you don't have to deal with any website creation or HTML that is time-consuming and boring. The only thing you need to do is customize your blog with themes, add some cool plugins and write content. Once you get the grip of it, you will know exactly what to do.
3. Google Loves Blogs
When your blog is ready, Google crawls your pages and it will be listed on Google search. It means you will start receiving additional visitors from the search engines.
Isn't that great? Search engines help to bring new people to your blog that can become your new friends or future business partners.
4. Blogging Makes You a Better Person
Having a blog will surely make you a better person. Why? Well, blogging obviously improves your writing skills as well as communication skills. You will start thinking more intentionally about who you are and who you want to become.
Furthermore, when you send a job application, many employers look for employees who have blogs and write openly about their life and opinion. So it would be a definite “plus” for you.
5. Blogging Helps Other People
You can spread your information and knowledge through blogging. Heck, you can even help other people with specific problems.
Let's say you have blogged about “mother care”. There are many women out there who are looking for help/solutions/ideas to raise their children. Your knowledge or advice could be essential and very helpful.
6. Self-promotion and New Opportunities
When you have a blog you basically have a “tool” or a “channel” to promote yourself or make you look like an expert.
You'll be amazed how many people start to respect you and I know many cases when employers actually contact blog owners directly to offer working positions or joint venture opportunities. This will open you a lot of doors that you might have not been aware of or dreamed of.
7. Use Blogs To Stay in Touch
Active people tend to have less time to sit on Facebook or any other social “chat-room”. Again, a blog can help you to keep in touch with your friends, colleagues, and relatives.
They can easily read everything about your activities, ideas, and success through your blog. Be wise and use this as a communication tool.
8. You Can Make World a Better Place
When you have a blog, you actually have a voice. This means you can spread out all the things you like or don't like.
And those things can help you to change the world.
9. Blog Can Help To Grow Your Business
Does your company have a blog? If not, then you are missing a lot of it. Blogs can impart a lot of things about your company.
For example, your potential clients can read interesting stories about your company's success, ideas, strategies, and even new products that might turn them into regular paying customers.
That's a huge opportunity that lot a of small and big firms are not using.
10. Blogging Can Become Your Hobby
If you have too much free time and you are constantly browsing on the Web then you should really consider starting a blog.
You will soon get addicted to it (in a good way) and you will start learning a lot of things. So if you are bored right now then what are you waiting for? You will get a lot of good and new experiences, there is nothing to lose.
Some interesting facts
There are approximately 130 million active blog readers in the US right now.
90% of companies who blog daily have acquired at least one customer (probably much more) through blogging.
80% of US online consumers trust the information they get from blogs.
61% of US online consumers have made a purchase based on recommendations from a blog.
Blogging is most popular in the age group of 20 – 35-year-old. It's over 50% of the total blogging population.
Start making apps, 5 Ideas
The global app economy is large and it’s going to keep growing.
As of 2016, there were more than 2 million applications in Apple’s App Store and 2.4 million in Google’s Play Market, making it the most popular distribution platform in the world.
It is projected that revenues generated from mobile apps, including advertisements and in-app purchases, will double by 2020.
According to TechCrunch, more than 90% of apps on the market now are free and you might ask yourself, how do these FREE apps generate income?
Different types of apps have different types of revenue models or a combination of some.
1. Free apps
Free apps mean Apps that are “Free” to download and free to use. This app monetization tactic works best for completely free apps.
These types of apps provide full functionality to users without any charge and users can use them without any limitation. These apps generally make revenues by displaying in-app advertisements.
There are many ads SDK like Google AdMob, Unity Ads, etc. that can be integrated with your app to show ads. These ad SDKs show ads based on user interests which possibly increase the CTRs (Click Through Rates) and every time a user is clicking on an ad popping up in your app, you are earning money.
Choosing a good ad SDK is also important so as to maximize revenue from in-app ads. You can also choose to display different types of advertisements within your app like popup ads, rewarded video ads, and so on. These in-app advertisements are the primary source of income for completely free apps making.
2. Freemium Apps
Like Free Apps, Freemium apps are also free to download, but they charge users an amount to use certain “premium” features of the app, apart from regular free features. A good example can be the famous dating app tinder, which allows you to download and use the app for free, but charge an amount to access the premium features of Tinder plus.
3. Apps with in-app purchase
Most games follow this app monetization strategy where they let users play the game for free, but smartly lock certain power-ups, stages, game character customizations, etc. that can be unlocked only after paying an amount.
But as I said the word “smartly”, I emphasize this as well since this strategy may completely fail if it is not done after diligence. Super Mario Run is a perfect example of such failure, as the game earned a lot of hype in the beginning but still wasn’t able to generate the revenue as per their set goals.
The reason was, this game was presented as a free app with in-app purchases but the “Free” gameplay wasn’t more than a trial version game and instead of encouraging the user to buy more levels, it annoyed game players, including myself, and hence it failed.
4. Upfront Paid Apps
As the name suggests, Paid apps have the simplest and most direct app monetization strategy as the users have to pay an amount in order to download and use the app.
In certain cases of paid apps that are most compelling and useful, the in-app purchase mechanism can be implemented as well to increase the revenue intersections beyond upfront fees. NFS Most Wanted game is an example of a paid app but with further in-app purchases.
However, you need to reconsider two facts before implementing this money-making strategy as follows:-
First, users tend to first see the app in action before they make up their mind to make a payment. Also, note that apps that follow “in-app purchases” or “freemium” monetization techniques generate more revenue as compared to paid apps.
Second, there is no policy in Google Play Store or Apple App Store to launch trial versions of the paid apps. So, there is no way by which you can present your app to an end-user without making them pay for it.
5. Subscription-Based Apps:
These apps follow the “subscription-based” monetization strategy where users can download your app for free but need to pay on a regular interval of time to enjoy the app services.
Popular apps like Apple Music, Spotify, Amazon Prime, etc. are examples of apps making a huge amount of money by following the subscription-based app monetization methodology.
In hindsight, creating your own apps is not all that hard. There are plenty of app developers who charge an affordable amount to sell you an app, or mobile app developing programs who instead, teach you how to make your own apps (some don't even require you to code).
Start a small business with low cost, 11 Ideas
12 Business Ideas with (Almost) No Startup Costs
For those with the entrepreneurial spirit, startup costs can be a significant barrier. But where there's a will, there's away. The following business ideas require little in the way of startup costs or resources and respond quickly to some good old-fashioned hard work.
For those dreaming big on a small budget, here are a few low-cost businesses to inspire that entrepreneurial passion.
1. Personal or virtual assistant
Along those same lines, those who have good organizational skills are in high demand for other entrepreneurs who are growing their businesses and want to focus on high-return tasks. A personal or virtual assistant performs many of those secretarial or front-desk functions without being onsite.
These individuals often work from home for many different clients, keeping track of calendars, making flight arrangements, and doing clerical work.
2. Event planning services
If you're a highly organized, detail-oriented individual who loves putting parties together, you might have the right personality to launch an event-planning business.
Working for weddings, birthday parties, and class reunions, event planners make it easy for others to host an exciting party. LinkedIn, cold calling, and planning a few pro-bono events will help give you the proper experience.
This will also help you build up a solid database of vendors and contacts so you can help your clients orchestrate the event of their dreams.
3. Errand/concierge service
Between caring for their children and their professional responsibilities, most working parents have very little time to take care of personal errands like grocery shopping, making returns at the mall, or mailing packages.
The right, the driven individual can take care of these time-consuming errands for clients and free up their days for the important things in life. Account for travel expenses when determining your rates, which can be hourly or by task.
4. Professional reviewer
Yes, this is really a thing. The importance of good reviews has not been lost on companies large and small.
Companies provide products and services to individuals so they can write a review. They want a good one, but more importantly, an honest one.
They pay for your time or by the review, and you get to try new things, read new books, experiment with the latest technology, and much more, all while getting paid.
5. Social media consulting
Larger firms can hire an agency or full-time staff member to run their Facebook and Twitter accounts and blogs, but small businesses often have to take care of their own social media marketing.
With so many other responsibilities, business owners may be too busy or overwhelmed to spend time coming up with a great social media strategy. As a consultant, you can help them determine the best tactics, posting schedules, and content for their target audience.
As their follower counts grow, so will your business.
6. Etsy shop owner
Etsy is a popular online marketplace that hosts thousands of at-home retailers and larger productions, like the highly-rated Wildflower + co., selling jewelry, patches, and DIY merchandise. Starting an Etsy shop is incredibly affordable.
It's free to join the site and start a shop, though business owners should be aware there are three selling fees: the listing, transaction, and payment-processing fees.
7. Online courses and tutoring
What are you passionate about? Yoga? Baking? Web design? If you know something inside and out, you can help others enrich their lives by offering virtual classes.
Create downloadable instructional packets and videos, or schedule real-time Skype lessons with clients. Another option for aspiring educators is to start a virtual or home-based tutoring service.
8. Personal chef
This business requires you to plan and prepare weekly or daily meals for your clients, so strong cooking skills and a working knowledge of nutrition and special diets (if applicable) are a must.
You don't necessarily need to have graduated from culinary school, but having some cooking classes under your belt will boost your credibility.
While you may have to do some traveling to and from supermarkets and client homes, your customers should cover the cost of ingredients in addition to your service charge.
9. Translation service
If you're fluent in a second language, you can find work converting written and spoken words from one language to another.
Broadening international ties and an increase in the number of non-English speakers in the U.S. make this a fast-growing field, with the Bureau of Labor Services predicting 42 percent growth by 2020.
You can start your own independent service and market yourself to businesses, schools, hospitals, courtrooms, and conference centers.
10. Software training
Are you proficient in highly specialized software? There's a growing demand for training from amateurs and professionals looking to expand their skillsets.
Technical manuals are available for programs like QuickBooks and Final Cut Pro, but these are often expensive and difficult for the average user to understand.
Schedule small group workshops or private sessions, and charge by the hour when giving a full tutorial of the program. Patience and a great personality are critical.
11. Music lessons
For the musically gifted, offering lessons to others who want to learn an instrument can be a great source of extra income. Unless you're teaching piano, students can likely bring their own instruments to your home for hour-long lessons.
Stock up on sheet music or songbooks in varying genres and aimed at various skill levels so you can offer a wide selection for your potential clients.
Voice lessons can also bring in a lot of money if you market yourself to local high schools and community theater groups.
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