Nowadays, everyone is looking for a way to make some extra income. Everybody wants to make more money, but in 2017, things are really different.
If you find yourself bouncing around between different gigs, you’re not alone. The rise of the gig economy has seen workers move away from the 9-5 life and towards a series of smaller projects.
That’s why workers have also started earning passive income online. Theoretically, passive income means that you can sit around while the change rolls in. While that’s the case sometimes, it’s not always that simple.
With some guidance, there are still plenty of ways for you to earn passive income online. Here’s how:
You’ve probably heard a lot about blogs. You might have heard that it’s possible to make millions blogging–which is true, but unlikely–or that it’s impossible to make money blogging, which is incorrect, too.
The truth is that to make a full income blogging, you’ll need to dedicate your full attention to your content and the website. If you want to spend less time on it, a blog can still be very helpful in your quest to earn money.
You could blog about a subject you know about, or a topic you’re passionate about. Even if you don’t have an expert knowledge in one particular area, don’t worry. There are still plenty of topics to blog about, even if it’s just explaining your journey.
You can monetize your blog in many ways, including sponsored through sponsored content or selling items and knowledge. Even if you don’t sell anything, a blog is still important.
A blog should be a key part of any project you do. If it attracts readers, it can bring more eyes to your projects, which is a key part of making passive income online.
No matter what you blog about, you’ll need to pay attention to the changing climate of the blogosphere. The way ad revenue works might surprise you; Google’s algorithm, which you’ll use to capture an audience, always updates.
But with time and practice, you’ll get the hang of things. And that knowledge will be very important. A good blog is an axis that holds all the other ways you make passive income online.
With a great blog, you’ll be able to do a whole lot more.
Advertise On Your Site
If you have a blog, you have a website. If you don’t have a blog, you should still consider getting a website. Advertising on your website is one of the most efficient ways of making passive income online.
There are several different ways you can monetize your website:
One way is to include sponsored content on your website. It’s a relatively new concept in marketing that has sprouted with the rise of the internet. Basically, you are paid to advertise for a company in a way that isn’t immediately clear to the site visitor.
Another method that’s a bit more accessible is through hosting more traditionally-marked advertisements on your website. Google and WordPress, for example, often place ads on popular websites.
Ad revenue can change depending on your website. Still, it’s always true that bringing in more eyes to your website will increase the revenue you get from ads. That’s why it’s important to have a handle on search engine optimization, or SEO, which seriously influences the size of your audience.
And, it’s important to have something important to say.
Figure Out a Way to Inform Others
Think about what makes you unique. It could be rare knowledge you have: maybe the way you view issues in the world is different from the average thinker’s.
If you can think of a good topic, you should look for an outlet to get that information out.
Creating an E-book is an affordable way to write a lot of information and publish it for others to buy. Maybe you could write a series of tutorial videos on a topic you know a lot about.
If you need help deciding what your unique angle is, maybe you need the help of an entrepreneurial coach. If you can figure out a way to educate others, they’ll be willing to pay a fair price for it.
After all, you probably have an entrepreneurial mind, which means it’s brimming with unique ideas and knowledge. It’s about time you figured out how to express it.
Open Up a YouTube Channel
YouTube is the new frontier for creative minds to express themselves.
Over the last few years, a new generation of stars has risen to fame through Youtube skits and vlogs. In the process, they’ve earned fame from millions of followers. They’ve also earned a bit of a fortune through monetization and making passive income online.
On average, monetization of a YouTube channel means that every thousand views bring in about $7.60 of revenue to the channel owner.
So, if you can bring in millions and millions of views over many monetized videos, it won’t take too long before you find yourself raking in thousands of dollars.
But, if you only bring in a few thousand views, you could still pad your wallet with a few hundred extra bucks a month. Over many videos that continue earning views after you’ve published them, that’s not an unrealistic goal.
Depending on your interests, there are many ways you could create a series of videos that capture an audience. Starting a channel might seem intimidating, but with a spoonful of persistence, it’s more than manageable.
Plus, once a video is done, it’s done. Ad revenue will keep trickling into your bank account while you focus on other projects.
Sell Items Online
Do you have any items you don’t use anymore lying around the home? If you do, they could be perfect for selling to earn some passive income online.
From eBay to Amazon, there are now plenty of websites that can help you sell off items you’re not using anymore. Sites like this tend to take a cut, but that’s because they help you sell your products.
If you’re not using something anymore, selling it for any amount of cash is a win. That’s why it’s more than worth it to sell still-good materials online.
It’s one of the top two most passive ways of earning income.
Get Involved in Referral Programs
This is maybe the most truly passive ways of earning passive income online. Many banks and some companies offer rewards for clients that bring new customers into their business.
Take a look at lists of the different bonuses you can get from referring friends to banks. All it takes is a quick conversation with someone you know who’s looking to open a bank account.
If they do open an account and mention your name, you’ll get some amount of dollars deposited into your account straight from the bank. A few times over, and you’ll be sitting on a quick few hundred dollars.
It takes up so little time that you can dedicate more effort to bigger and better projects.
Make an App
Everyone’s talking about making an app nowadays. If you can figure out how to be the next Snapchat, you’ll have a new career and life purpose.
But, in the event your app isn’t worth a million bucks, it’s still valuable. Creating an app and getting some supplementary revenue from it is more than possible. If you have any knowledge of making applications, go for it.
It will probably take some time to make. If it does, know that anyone who tries to make an app will experience some kind of failure–it’s hard! The important thing is how you bounce back.
Make Passive Income Online Through Airbnb
It’s getting easier for people to do simple things from the comfort of their laptop. That includes everything from booking a car ride to ordering food to asking for a task to be done.
Hosting through Airbnb is one great way to get in on the action. If you have an extra room, let alone an extra apartment or house, you can make money with minimal effort.
Your effort as a host will mostly go to booking clients and cleaning the space after guests leave your property. You should be aware of the pros and cons of hosting through Airbnb before you begin doing it.
But, if you have the necessary resources, hosting is a great way to make some extra income.
Start Earning Some Extra Cash
With the right knowledge, you’ll be well on your way to earning some passive income online.
It’s true: most of it isn’t too passive. But that doesn’t mean it’s slow and burdensome, either. Once you get the hang of things, you’ll be able to work on various projects at the same time that will help supplement your income.
A few months and years down the line, you’ll start to see that extra income pile up. Have any more questions about earning extra income? If you do, feel free to leave a question in the comments.