Congratulations. Did you know that the majority of the world doesn’t have the knowledge of passive income? That’s right, most people don’t read rich dad poor dad, most people don’t read financial books, most people don’t spend time looking for passive income streams.
Believe it or not, most people go to work, do the work, go home and relax. Most people don’t read books on finances, most people don’t spend time learning about passive income and most people simply don’t care.
By you reading this article, you’ve demonstrated your interest in learning how to generate passive income into your life because you understand the importance of having passive income into your life.
You know the importance of financial freedom, you know about how much you need to make in passive income to make you financially free and you’ve built up a good list of financial terms you know.
How I Earn Passive Income
Over the years, I’ve understood the importance of earning passive income into my life. I’ve continually focused on seeking out passive income streams and working hard at achieving them.
I started learning about passive income through Robert Kiyosaki the author of Rich Dad Poor Dad and that book was what started my journey towards financial independence. That book was what really triggered the idea of making money work for me instead of me working for money.
I also got to play the game CashFlow, the PC version and I remember that night when I achieved financial freedom, I immediately went out there and started looking for opportunities in generating passive income.
Years later, I managed to achieve passive income through the following sources:
- Book Royalties
- Niche Websites
- Real Estate
- Commissions from Speaking Engagements
- Video Products
- Google Adsense
In this article, I’ll show you how I made passive income through those methods listed above.
The 9 Ways To Earn Passive Income
Create your own book. If you write just one page per day, you’ll have a book at the end of the year. I believe that everyone has a great book inside them. When you finish you book, you can actually sell the digital copy online (passive income, you can sell it on iTunes (passive income), you can sell it on Amazon.com (passive income) and you can even sell it at book stores (passive income). Writing your own book is a passive income generation machine
The internet is so competitive. It’s hard to take on websites that’s been around for a while and have heaps of authority to it. Therefore, the only way to make quick passive income is to target less competitive markets so it’s a lot easier to dominate. All you need to do is look up the markets using Google Keywords and start analyzing the competition. Once you’ve found a winner, create a website for that niche and start selling products and advertising. Passive income in niche websites.
Blogging is one of my favorite forms of passive income. You create content, you attract more website traffic, you monetize it by placing advertising. That’s it. The main challenge with blogging is the ability to create heaps of traffic. The only way of doing this is to create a ton of content which will send you a ton of traffic. Once you’ve got your traffic, start monetizing it using Google Adsense and private advertisers. It’s great for passive income.
By searching for properties below market value, you can actually generate a good passive income stream from real estate. Because people will always need shelter, real estate is I believe one of the most stable forms of passive income. Even if you already own a house, if you have a spare bedroom, you can rent it out and earn passive income from it.There’s a lot of opportunities to generate passive income from your home.
This one is an easy one but if you start a small business in Network Marketing, each customer you sign up will send you monthly cheques from their purchases. Earning commissions is a great way to earn passive income.
Have some knowledge? Have some experience? Have some skill? Then it’s time to write your own ebook and sell it online and offline. I’ve personally written several ebooks and none of them have not made any money. Ebooks are very easy to sell and extremely profitable.
Very similar to ebooks but instead, you’re creating video instead. You can create a series of how to information and sell it online. All you need to create your own video products and sell them is a good video camera, even your web cam and screen recording software. Video also helps you build trust online and it’s the most effective form of building trust with people online.
Google Adsense is by far one of the most easiest ways to make money with your website. If you’re generating over 200 visitors a day, you have to install Google Adsense so you can start monetizing that traffic. Imagine earning $1 per day, that’s $30 per week. Imagine if you worked hard and generated $100 per day, that’s $700 per week.
When I first started my own web design company, one of my services was providing hosting for my clients. The great thing about hosting is that can easily sign people up to use your host. If they use your host in a long term basis, you can charge money every month.
Do It Now
That’s right. There’s no time like the present. If you start creating our passive income today, you’ll reap the rewards tomorrow.
Making passive income takes time. You probably won’t make much when you start but if you focus at it and stay persistent, the money will eventually follow. Never give up.