You may have heard that the key to success is to create multiple streams of income.
Creating a passive income stream is the dream of many entrepreneurs, but it can be difficult to find time to build a business while working full time.
Starting a business takes time and money, which can be hard to come by when you have a full-time job. However, there are ways to make money without having to work a traditional job, such as starting a side hustle or investing in a passive income stream.
Online passive income is a strategy where you earn money without having to work by spending your time doing stuff that allows you to generate income without having to do any work. It includes all digital products that you can create and sell without doing any work.
You don't have to design anything, create something, or even advertise to sell your product; you can just sell your own product and take your money.
Online passive income is a simple and effective way to make money.
You might see people saying that a passive income isn't successful until you can live off that and they would be wrong. Success is what you define it to be. For me even $100 is success. To you it could be to simply make a few quid. Success depends on your mindset.
1. Sell Your Bandwidth
This ones actually pretty easy to do. You may have heard of these before but essentially what these allow you to do is sell your unused internet bandwidth it can be a neat way of generating some extra cash.
One of the most popular and in my opinion the best solution is Honeygain. With Honeygain all you need to do is head over to there website and download their client. You can use it on almost any platform, Windows, Mac, Android, and iOS. Using this link you can get a free $5 when you first sign up.
I've been using Honeygain for a few months now, and across my devices I've been earning around $50 a month. That might not seem like a whole lot but it's better than nothing and you can also refer your friends to generate even more income.
On top of what ypu earn with your bandwidth they come with daily rewards, and have partnered with JumpTask to gain 50% extra on what you earn.
Some others include:
Selling your unused bandwidth is truly a great way to generate some extra income.
2. Create a Blog
One of the most popular ways to increase passive income is to create a blog. That’s where we think the best return on your time investment lies. Blogging is a great way to get creative and earn money simultaneously, but it’s also a competitive industry.
Looking to get started as quickly as possible this section if for you. All the main points from the article below.
First, head over to SiteGround.com and select their Starter Plan. It's just $3.99 / month and includes a free SSL certificate, boosting SEO and security.
Follow the on screen instructions to create your account. Once everything is ready we can proceed in creating your very own WordPress website.
Note that it can take up to 24 hours for your site to be ready.
At this point there's lots of work to get your blog up and running. These are:
Choosing a theme
Creating your first blog post
Start making money
Once you start producing blog posts on a regular basis you can start to think about making some money.
I remember earning my first dollar, it might not seem like much but it proves that you can actually make money from it. Your work is starting to pay off. All you need to do now is continue what you're doing.
You might be asking how do I make money then?
Answer. There are so many different ways of making money. I started off with just one, advertising, but knowing what I do now, I can show you some of the best ways you can make money from your blog. Some ideas include affiliate marketing, online courses, and creating sponsored posts.
I have seen many bloggers make a good living. Blogging is a viable way to earn money, and it’s one that I know can pay off actually. I’m speaking from experience when I say it can pay off really well. But it does take a lot of work and effort to see your investment pay off.
3. Create a YouTube channel
You've probably already thought about creating a YouTube channel at least once in your life.
YouTube is the world’s biggest video platform, with billions of hours of video watched every month. To get your channel up and running, you’ll need to have a YouTube account, a channel name, a few videos, and a thumbnail image.
Successful YouTubers have the ability to make a living from their creative videos, while others are making money to supplement their primary income.
They can make money from their ad revenue, but they can also make money selling products, hosting paid events, and even taking on sponsors.
Okay so what do you create a channel about?
You can create a channel about anything. My best advice is to choose something you're pasionate about. If you create a YouTube channel you're going to need to stick with it and to stick with it you're going to need to enjoy it.
It could be something you're already passionate about, one of your hobbies, or something you think you'd enjoy.
Building a successful channel will certainly take a lot of time. Making serious money will take weeks if not months. But at the end of it you'll be making some decent income and is definitely something worth trying.
4. Sell designs on RedBubble
Redbubble is an online retailer for T-shirts, clothing, and decor founded in Australia that was founded in 1999 following the success of its first online store.
Not only do they offer both new and vintage items, they also give vintage and high-end items new life by re-imagining them into a re-envisioned, higher-quality alternative.
They allow independant artists and creators from around the world to showcase their creative talents and make money at the same time.
Redbubble is perfect if you have a natural talent for creativity.
To get started you're going to need some artwork. It is highly recommended that any work is uploaded as a transparent PNG file.
What we need to do next is upload your artwork, this is farily simple and takes very little time at all.
Once your artwork is uploaded your product can be applied to dozens of different products available on the online store.
They allow you to fully customise your store page so that people who like your content can find your other products as well as a place you can refer your friends to.
It can take a bit of time to start making money from Redbubble my only suggestion would be to persevere. Keep producing great art, improving your skills, eventually you will get there.