Passive income has got to be one of the best income streams that you can create in the online world because it allows you to get paid month after month for something that you did 1 time.
For years I have always wondered how to create this type of income as I have heard many online gurus talk about it but I failed to understand how to create this type of income.
Fortunately, over the past 5+ years I have learned how to create many different types of passive income and in the following blog post, I’ll be sharing my top 3 ways that I’ve used to do this.
I’ll also be showing you guys how to implement the things in this post to start generating a passive income for yourself as well as answering any questions you may have about this.
I invite you to follow along and ask me any questions that you may have in the comments below.
I’ll be doing my absolute best to answer them for you in detail and clear up any confusion that you may have.
There are a plethora of low quality products out there that promise you can earn a passive income from simply plugging into their system and watching the money start flooding your account.
However, I’m here to provide you guys with the truth and show you the real way to accomplish this without having to spend hundreds or even thousands on some worthless system that will leave you more confused than you were when you originally started.
What Is Passive Income?
Before I get started showing you guys how to create this type of income I first want to make sure that you understand what this is in case there is any confusion.
Also referred to as residual income, passive income can be generated by doing something one time which will, in turn, continue to pay you on a month to month basis for years to come that requires little to no effort to maintain it.
To give you guys a better understanding of a few of these things that you can do to create a passive income flow, here are a few things that come to mind.
- Purchasing rental properties
- Investing in real estate or some other lucrative business opportunity
- Investing in the stock market
How can you create a passive income flow online without investing thousands of dollars into real estate or purchasing rental properties?
Continue reading below to find out the answer!!
1) Sell Your Photography Online
Are you a photographer who is looking for a way to start getting compensated for the pictures that you take but aren’t exactly sure how to go about this?
You don’t need to be a professional photographer or have any expensive equipment to get started earning passive income from your photography.
As a matter of fact, all you need is a smartphone with a pretty decent camera and know how to point and shoot to start earning money with this hobby.
Bloggers, online business owners, and many other entrepreneurs are constantly in need of high quality photography to use on their websites and they are willing to pay top dollar for these types of imagery.
How does it work?
It’s pretty simple really to be quite honest with you guys.
You would simply need to create a free account, upload these images to their server, and add some tags so that people can easily find them.
You would then need to set up your payment details and choose how you would like to start receiving payments.
Once you have done this, these images will be added to their database and once people start searching for your images and download them to use on their blog, you’ll start receiving royalties.
You can start small with only a few images, or you can fill your portfolio all at once, this is totally up to you.
If you’re an occasional photographer or a professional, then you should definitely look into this as a great way to start building up some passive income for yourself utilizing the power of the internet.
2) Create An Online Course
Photography not quite your thing and you would rather create some type of a how-to guide showing people how to do something?
That’s perfectly fine as there are many ways that you could do this to start earning a passive income online that will show other people how to do something that you have mastered.
This could be anything really from showing people how to perfect their golf swing to beating a particularly challenging boss in a popular video game.
Over the course of the 5 years that I have been online, I have created several how-to guides on how to do something that has allowed me to earn passive income online.
One of the best places that have taught me how to do this is a site called Teachable.
This is an easy to use platform that is designed for newbies as well as seasoned professional course creators that come with helpful video tutorials, webinars, and other tools that will have you on your way to launching your first online course in no time.
Like anything that’s worthwhile, there is a slight learning curve but once you get past this you’ll be on your way to earning a passive income from helping other people master a skill that takes as little as 20 minutes per day.
Definitely, something for you guys to consider if you’re looking for a way to start earning passive income from helping other people learn how to do something that you have already mastered.
3) Build A Website
This has got to be one of my favorite ways to earn a passive income online as there are many different ways for you to go about this.
One of the most popular ways and the most lucrative way that I have been using over the past 5 years is something called affiliate marketing.
This involves building a website around a particular topic of interest and writing about something that you’re passionate about.
There are many ways for you to start earning passive income from an affiliate marketing website and this includes the following.
- Promoting membership style websites that pay a recurring commision each month
- Joining programs like Adsense & other ad type programs that will pay you to place ads on your site
- Joining affiliate programs like Amazon & promoting relevant products that are centered around your niche
I know what you may be thinking now!!
Scott, I’m not smart enough to build a website nor do I have the technical skills to do so!!
I want you to squash those thoughts now and stop thinking that way as this is the same way that I thought when I first started here back in 2012.
However, as you can see I have built a pretty amazing website that continues to generate a consistent income for me month after month.
While this can take quite some time before your website will start earning you a passive income if you’re willing to put the time and effort thats required to be successful with this venture then it can and will definitely pay off for you in the long run.
Learn How To Create Multiple Passive Income Sources
Earning passive income has got to be everyone’s dream and something that everyone should strive for no matter if it’s in the online world or in the real world.
However, learning how to properly do this can become quite challenging and not as easy as other people make it out to be.
Trust me, I had to learn this the hard way and for years I struggled to learn how to do this with little to no success.
Finally, after failing multiple times with this and having to learn the hard way, I was able to start building up a passive income that paid me day in and day out from doing something 1 time.
I now get paid when I’m grocery shopping, out on a date with my wife, and even while I’m sleeping believe it or not.
It took me years before I was able to turn this dream into a reality and I would like to show you guys how to do this as well.
The place that has shown me how to make all of this possible and learn the right way to create passive income is Wealthy Affiliate.
If you have a strong passion for creating wealth online and you would be interested in learning how to do this while learning a new skill thats centered around doing something that you love then you should definitely check out WA for yourself to see what they can do for you.
Not only do they give you the ability to get started for free, you’ll also have me there to help you out each and every step of the way and show you how to get started as well as answer any questions you may have.
Besides having the proper training and tools to get the job done, having help and support is the key to becoming successful online and learning how to create passive income.
I really hope this blog post has helped you guys out and provided you with 3 awesome ways to start earning passive income in 2018 and beyond.
I look forward to working with as many of you as I possibly can and sharing some of the tips and tricks that I’ve learned over the years to build up my passive income online.
If there is anything that I failed to mention or if you still have questions on anything I covered above then I encourage you to leave them for me in the comments below and I’ll get back with you ASAP.
Until next time