If you want an additional income or even making a living from passive income, that’s totally possible, you don’t need to change your name to Elon Musk to make it happened and to be honest, I don’t know why aren’t more people doing it.
For those who don’t know, passive income is the type of income that you don’t have to work for or that you do the work once and it continues to give you money and that’s actually the key of creating wealth.
The first method is using your web traffic to generate money, what this means is that you install a software that’s using your internet and sells it to different companies giving you a portion of their profits in return. Why I love this method is because all you need to do is install their software and keeping it running in the background, you won’t even know about it. I know some of you might be concerned about this kind of software, what if it’s a scam or a virus, and no, it is not, and the companies are restricted into using your internet too so you won’t get in trouble what so ever. Get the App!
The second method of earning passive income online is content creation. And here we’re talking about social media like TikTok, YouTube, Facebook or X, the new Twitter. These platforms will pay you money if you generate enough views, and although it seems more like a full time job into creating these videos more than a passive income stream, it can be used as a passive income method because the videos you create can get viral and generate you money for months or even years into the future. And not only that but you can actually outsource the creation of the videos and pay other people to do them for you which turns this mechanism into a 100% passive income source.
I haven’t included here Blogging because I want to talk a bit more on this. Yes it is possible to make money by having a blog in 2023 and as the previous method you can hire other people to write the posts for you turning it into a complete passive income source. Creating a blog is not difficult but as any content creation method is takes time to grow your following base and start earning some money and even tho there are a ton of blogs out there, you can still earn a lot of money without having many views, and that’s by using
Affiliate Marketing, which is the 3rd method of creating passive income. Affiliate marketing means finding a company that sells a product, advertising that product to an audience and getting a percentage of every sale. Now this require you to actually have a following base established. You can use paid ads too of course but you might not get any sales and loose your money on ads, that’s why I only recommend this method if you can promote these products for free on your own audience. You can find lots of products to promote on websites like digistore24 or clickbank.
The method number 4 is creating a course. I know most people would be scared of creating a course, but you don’t need to be an expert to make one. If you’re interested in a topic, let’s say you know how to play piano, you already know more than most people about that topic, all you need to do is create a step-by-step guide from beginning to the end of what it means to play piano or whatever topic you’re interested in and then sell your course on platforms that already have a traffic source guaranteed like skillshare for example, and then you’ll get paid everytime someone buys your course. The best thing about creating a course is that you do the work once, and then you keep getting money without doing anything more and without even promoting your course.
Method number 5 is putting a license on your photography or art. If you love taking pictures or if you’re an artist, you can license your creations by simply using an app on your phone or a website, I’ll put the most popular website that I used too to license simple pictures on my phone to get money. The best part is that you don’t need an audience to make money, all you need to do is upload your pictures on their website or app and get paid everytime someone buys your picture. If you’re thinking who would buy a picture of your dog for example, the answer is content creators and that includes individuals and companies who need stock footage for their videos and you can upload infinite ammount of content and therefore scale this passive income stream as much as you want.
