The traditional notion of employment is working a nine to five job at an office housed in a downtown skyscraper. The advent of the internet and modern technology has challenged this model and the World Wide Web has opened a lot of ideas for earning alternative revenue. Passive income, in particular, has become very popular. In the beginning, these online ideas will only supplement your main income sources, but with some initial hard work, it can pay off and allow you to have a regular source of income.
Here are some online passive income-generating ideas that can help you to earn a sufficient income and make you an internet success.
Write an eBook
Like you, many people have dreams of becoming a writer. However, the publishing industry is very choosy. Nine out ten times, you as a budding writer will be rejected so many times that you will probably lose count. It can be frustrating, and it can bring you to tears. Good thing that the internet can now allow you to self-publish. By putting together an eBook and self-publishing, you can earn an income from people purchasing a copy of your book. While fiction books are always popular, the big thing right now is how-to books. These would include cookbooks, career-related articles, blogging, and so many other things. You can write based on your real-life expertise.
This is a good idea if you already have a blog or a website. Affiliate marketing is promoting products and services through your blog or website. It can be as easy as adding advertisement banners on your various pages or as serious as actually creating blog articles about the product. You can earn an income when your site visitor clicks the link that you have provided and purchases the product or service. Call it a commission if you will. Ideally, you should have a high enough web traffic so that you have more potential sales.
So many people use smartphones, tablets, and other forms of mobile computing nowadays. Application development is no longer the domain of big IT companies. Anybody can actually create an app and then sell it. If you have the know-how, this is a great way to earn some cash. With each download you will get money in your bank account. Do your research and find out what kind of apps people like. Games and other leisure apps are also all the rage right now. Developing an app might take some time, but once it’s on the app store, all you need to do is make minor upgrades every now and then.
Podcasts are nothing new. Decades ago, audiobooks could be purchased in cassette format. Podcasts have simply modernized that idea and put it into a digital format. Podcasts and all sorts of audio commentary have always been popular because it allows people to listen instead of reading or watching. This is a very popular choice for commuters who want alternatives to music during a long train ride or on the drive home. Auditory learners are also keen to use audio transcripts of education materials. Creating podcasts is another medium to bring exposure to your work. It’s easy to do. You can even just repurpose content from your existing blogs. The important thing is that you create meaningful content that will make people buy your recordings and/or direct them to visit your website.
Make a Membership Site
As you continue to blog throughout the years, you will notice that you will gain more and more loyal readers who visit your site regularly. You can build on your fame and credibility as a blogger and offer tiers of membership on your site. You will still have content for free but members will have access to exclusive or advanced content. If you are an expert in a particular field, such as financial planning, you can even take it a notch a higher, and offer a membership tier that will allow readers to have one-on-one coaching with you. By leveraging your skills, you will earn more.
These are just a few options for earning a passive income on the internet. What other ideas can you suggest? Have you had any success with them?