Or you have been working hard for many years but just don’t find the drive or satisfaction in that job anymore. You want to quit but you still need to have a source of income to take care of all those bills.
If these describe you, then read on to see if some of the best passive income opportunities discussed here is something you want to embark on.
I rate them as some of the ‘best’ because they are relatively easy to start and require little or no investment.
This is the foundation of online businesses, big or small. Having a website enables you to showcase your products, services/consultancy, or simply your opinions. Website creation is just the start. It’s what you do with your website that determines if it becomes an income-generating site.
These days anyone can create a website in a matter of minutes, with a basic knowledge of domains, hosting and content creation. Sites like wordpress.com, websitebuilder.com, weebly.com and wealthyaffiliate.com are all idiot-proof platforms to create sites fast.
The content of the website you create naturally depends on the niche you have set for it. For instance, you have decided to create a website on home theater systems. In addition to talking about what makes a great home theater system, you might want to talk about the different brands available in the market.
If you are able to create a website, the opportunities in making income online is endless. Here are some of the things you can do :
- Place ads from Google, for example, related to your niche and for which you get paid for
- Become an affiliate marketer to other sites like Amazon, Clickbank, Market Health, etc. and then promote products through your website
- Get paid by other website owners who wish to advertise on your site (only possible if your site is already getting lots of visitors)
- Selling your site in Flippa
2. Affiliate Marketing
Affiliate marketing is a relatively easy way to create a passive income online, particularly if you don’t have your own products/service to promote. It’s also a quick way to get started online. However, this is not saying that it is a quick way in making money online. (Hard work and dedication is key and please be reminded that the opportunities recommended here are not get-rich-quick or fly-by-night schemes)
One of the many advantages in getting into affiliate marketing is that you can get started online quickly and get paid commissions by various networks at any one time as you are NOT tied down to one.
As an example, you could create a website on “How to remove cellulite?” and then promote products from amazon.com, markethealth.com or digital ones from clickbank.com – all under ONE website.
Cost-per-action or CPA is a little like affiliate marketing only that in CPA, you are not necessarily selling products. You get paid if someone who visits your site perform an act, for instance, filling out their names and emails to the CPA offer you put up as your affiliate link. In the above example of “How to remove cellulite?” niche, visitors may not want to buy the products you offer as yet, but they may be drawn to a free e-book on the topic that your affiliate network offers. Once the visitor provides his name/email, you get paid.
Here is an in-depth explanation of what CPA is
Go to Lesson 18
4. Online Paid Surveys
I have to be honest that this is NOT my cup of tea although I must say that there are people who are making money FULL-TIME online just by doing surveys. People who are into paid surveys are usually those who have opinions on many issues. It certainly requires patience as you might enter responses to questions only to be told at the end that you are not the profile the company is looking for. So with surveys, it’s a numbers game – the more you do, the more chances of you getting paid.
An advantage of doing paid surveys over website creation or affiliate marketing is that you don’t spend time on site creation or promotion/marketing. It’s a straightforward assignment, if you will. Some survey sites include :
These are free to join. For paid survey sites, we advise that you stay away from those that require you to pay for subscription.
5. Video Creation
Video creation is another quick way of creating your presence online. It’s getting noticed for your presence that would take effort and some time to establish. Consistency is key in the sense of putting up the videos in platform like Youtube, for instance, that ultimately pays. Again, you would have to start by choosing a niche. If you enjoy DIY, then you can make videos showing how you create different household items from scratch. Sometimes, it slips our minds on how we can turn a hobby into a money-generating interest!
6. T-shirt Marketing
The last passive income opportunity we want to share here is selling T-shirts online using paid advertising. This can be fun as you create the T-shirt design in a chosen niche and then market them
through Facebook paid advertising, targeting audience who share that particular interest. For instance, if you have created a T-shirt on cats, then you might want to target cat lovers, pet owners in Facebook.
To enable you get into T-shirt selling online, firstly join sites like teespring.com, fabrily.com or zazzle.com that allow you to put up your designs, create your T-shirts and sell them hassle-free. What you need to do then is to drive traffic and for T-shirt business, Facebook paid advertising is one of the most effective means of getting your T-shirts in the eyes of relevant audience.