6 Ways To Make Passive Income Online

1st September 2016

Passive income isn’t some ‘get rich quick’ scheme. Quite the opposite in fact. But with a little hard work at the beginning, it’s a great way to ‘earn a living from the comfort of home with little to no effort long-term! Here’s 6 ways I discovered you can make passive income online.

6 Ways To Make Passive Income Online

When freelancing, I spent a year working with an agency who made most of their income from passive income websites. Before I continue on the subject, let’s take a look at the definition of ‘passive income’ to make sure we’re all on the same page:Passive income is income received on a regular basis, with little effort required to maintain it. It is closely related to the concept of “unearned income”.

When I say a “little effort” to maintain it, I’m talking about the long-term.  Generating passive income can actually be a lot of hard work at the beginning and it’s unlikely that it’ll be an overnight success. But when it does finally start producing income and you’re only working a few hours a week, it feels reeeal good.

So without further ado, here’s 6 ways you can make passive income online, from your own home:

1. Build an Affiliate Website

This is the first option I went for when I was experimenting with passive income options. It involves setting up a blog or a “shop” that links to other people’s products. If the user clicks through from your website and ultimately ends up purchasing from the advertiser, you get a commission. Simple as that.

How to get started

Check out Affiliate Window. Affiliate window connects publishers (that’s you) with advertisers (people who want to sell a product or service). When I signed up, I believe there was an initial £5 setup fee. Amazon also provide an affiliate service, but their commission rates are pretty low.

2. Start a YouTube Channel for Passive Income

If I wasn’t so self conscious on camera, this would be the route I’d take to make some passive income. Starting a YouTube channel is super easy. Just pick a topic you know a lot about, create a channel, be a cool cat on camera then watch the money come in from those adverts.

How to get started

Setup a YouTube channel. Turn on monetisation. Film stuff. Done.

3. Build a Dropshipping Website for Passive Income

This is certainly the least “passive” of all of the passive income options in that it requires a little more effort on your part long-term, but it also gives you complete freedom to create what appears to be your own company. By that I mean, unlike affiliate websites you don’t send users to someone else’s website for a commission. With dropshipping, they complete the entire transaction on your website. Let me explain…

A dropshipping website is an ecommerce retail website which doesn’t require you to keep products in stock. When a customer makes an order on your website, you order directly from the dropshipper, supplying the customer’s name and address. The dropshipper then sends the product directly to your customer. Most customers won’t even know you’re dropshipping, seeing as most dropshippers allow you to add your own invoice and labelling to the product.

How to get started

Choose what you want to sell. Find a supplier. Setup a website. Add products. Promote website. Done!

4. Sell an eBook

If you have extensive knowledge in a niche area, or maybe you just dig writing fiction, you could make passive income by writing an eBook. There are a ton of places to sell eBooks online now, the two largest probably being iBooks and Amazon. Remember that you can write a book on pretty much anything you want – if it interests you then it’s likely to interest others too.

How to get started

Write a book. Self Publish. Promote. Make Money. Done.

5. Lead Capturing to Make Passive Income

If your online marketing skills are up to scratch and you’ve noticed an industry that’s notoriously bad at marketing themselves online (of which there are several!), you could make some additional passive income by building a lead capturing website. All you need is the traffic and the ability to collect an email address from the users.

These leads can then be sold to companies within the industry you’ve chosen.

How to get started

Choose which service you want to collect leads for. Build website. Drive traffic. Collect emails. Sell emails. Make Money. Done.

6. Buy an Existing Online Business

If you want something a little more secure that’s already making passive income, you could buy an existing online business. I sold one of my affiliate websites using a website broker earlier this year.

How to get started

As I mentioned above you can use a website broker or a website auction. That auction link I just gave you has a lot of websites from the States on it – fortunately you want to work from home, so selling to people in the States really isn’t a problem for you, is it?

If you’d like any help with setting up a passive income generating business, leave a comment below, or pop me an email: info@oceanroadmedia.co.uk

Category: Random

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