Passive Income Ideas | Best Ways to Earn Passive Income

Passive Income Ideas

1. Publish Instagram-sponsored posts 

If you have followers on Instagram, you might want to try your hand at creating sponsored content. Instagram-sponsored posts are content pieces that endorse a specific product or service (usually owned by the sponsoring party). Sponsors compensate publishers for creating and distributing content that promotes their business. 

The secret to getting sponsored is to get more Instagram followers. You’ll also want to be super consistent with the type of content you post so sponsors know what to expect. And be sure to focus on just one niche—brands prefer creators who can publish quality content around a specific topic.

When it comes to your Instagram bio, be sure to add your email address. As your account grows, you can hire virtual assistants to create sponsored posts on your behalf. The more sponsored post requests you get, the more passive income you will be able to generate.

2. Create Your Course Content

Once you’ve validated your topic and you know that there’s demand, it’s time to create the actual course!

In most cases, an online course is just a sequence of videos. You can throw in other types of media, like images, sound bites, and PDFs. To make things interesting, you can also add in quizzes and tests, which we’ll cover later in this guide.

The core of your course will be those videos where you’ll explain the topic you’re teaching in a step-by-step manner. You can either record yourself in front of a camera, or you can record a screencast, where you’re sharing what’s on your computer screen, and talking over your actions.

Pick the type of video based on what you’re teaching. If you teach yoga, you’ll need to record yourself in front of a camera. If you teach people how to use Excel, you’ll need to share your screen.

Tools of the Trade

With that in mind, let’s start by ensuring we have the right tools. The most important tool is your computer. Technically, if your laptop or computer has a built-in camera and a microphone, you have what you need to create an online course. For better production quality, we suggest the following tools:

Screenflow – This is the best screen-sharing software out there. If your course is mostly screencasts, get Screenflow. It will capture your screen and voice as you navigate your computer and explain your actions. You can also edit the resulting video if you make mistakes.

3. Website Flipping

Make Money Online by Buying & Selling Website.

Website Flipping is one of the top ways of making money from blogging, and many pro internet marketers are using this technique to make huge money.

The basic idea of Website flipping is to create a well-established site and sell it for huge profits. Though Website flipping is not for everyone once you become a pro in buying and selling websites, you will be making huge money.

There are many other ways to make money online, like AdSense, CPM ads, Affiliate marketing, and Selling eBooks to name a few.

Working Tips to Find Direct Advertisements for Your Blog

But to make constant online income it is always good to be creative and, find new ways to earn because then you will get less competition in the blogosphere.

Thus you should keep on exploring new ideas to earn online, one of the ways to earn online apart from usual advertising, sponsored reviews, affiliate marketing or any other method is Flipping Websites.

4. Digital Products to Sell Online

What are Digital Products?

A digital product is any type of product that exists in a digital format. This means it can be downloaded or accessed online and doesn’t have a physical form. We’ll look at many examples throughout this article, providing you with plenty of ideas.

Why Sell Digital Products

Before we look at the specific types of digital products to sell, let’s talk about why you might want to sell them in the first place.

One of the main reasons to sell a digital download is that this online business model has very low startup and overhead costs. If you’re selling physical products, you’ll have to invest money right from the start for your initial inventory.

With digital products, there’s no inventory to manage since everything is stored digitally. Most digital goods are also inexpensive and sometimes free to create. This means you can get started with very little money upfront, which is great if you’re on a tight budget.

Aside from just starting up, a digital product business is also easy and inexpensive. You can use a platform like Podia to handle the sales and delivery of the products to your customers. Podia even has a free plan, so you can get started with no expense.

Possibility of Passive Income

If you want to generate a passive income, digital products are one of the best ways to do it. Once you’ve created a digital asset, there’s very little work required to sell it (if you have a source of traffic or leads).

The product that you create today may continue to generate income for months or even years to come with little-to-no additional work on your part.

It’s important to point out that certain types of digital goods are more likely to generate passive income than others. We’ll look at this in more detail as we discuss the specific types of digital products, but in general, customer service demands are what you need to consider.

Many digital products are very simple (for example, PDF downloads), and the customer service involved will be minimal. Other types of digital products (like WordPress themes or plugins) will require more extensive customer service, so they are not as good for passive income.

5. Make income from your unused space

Space is a valuable commodity that most of us don’t have enough of. Whether you’re currently only using your storage room part-time or having extra space in your home, there are tons of ways to create some extra income with that unused space. For instance, you can rent out storage spaces on sites like Neighbor.com, so people have an extra place to keep their belongings. 

If you have room in your garage or even an extra parking space, you can rent these out simultaneously. If you’re booking a space for an event and you don’t need it all the time, you can look into sites like Share My Space, where you can advertise your available square footage to anyone who needs it. 

Alternatively, you can offer employees and professionals without an office a great place to work comfortably. This way, you’ll earn passive income while the renters get a comfortable work environment. It’s win-win!

6. Make income from your unused space

If you’re like most people, you likely have some unused space in or around your home that you could be renting out and making money. In fact, many people are now making a good living by renting out their space. Demand for space outpaces supply, making it difficult for renters to find a place to store their belongings at an affordable price.

This has created an opportunity for homeowners to rent out their unused spaces to earn some rental income without much work. Getting started is easy – all you need is a bit of extra space. Here is a comprehensive guide showing you the best ways to make money renting out your space!