If you want to make money but don’t want to sell your time for it, then you should consider earning passive income. Passive income is money you earn without doing anything. The attraction to passive income is that the venture can make you money 24 hours a day, seven days a week, for many years to come. It doesn’t matter whether you are asleep at night, grocery shopping, or vacationing in the Bahamas, you are always earning passive income. You work hard in the beginning to set it up, and then sit back and collect your earnings without lifting a finger. Here are a few ways of earning passive income:
Buying stocks is a great way to earn passive income if you choose the right company. By investing in a company’s stock, you are considered a part of that company. The amount of money you earn will depend on how much the company makes. If the company makes a lot of money, then you’ll earn good income. Due to fluctuations in market sales, there is a likelihood that you will earn decent profit but it is also possible that you will not make any money. However, if you carefully research which companies consistently make money, you will have a good chance of earning good profit.
Website or Blog
Setting up a website or blog to promote products and services online is a good way to earn money. In addition to selling products and services, you can also earn from Google Adsense program as well as sell advertising space to other marketers. Of course, your articles and ads would need to be interesting to draw visitors to your website. But once set up, your website or blog can continuously generate income for you without you having to do anything.
Networking or Multilevel Marketing
This usually requires you to recruit other people into your organization or team in order to start earning money. Once you have recruited at least one or two people you will earn passive income from the efforts of those under you in the organization. You can earn more simply by putting in more effort to sign up more people. But after you have done the initial work, you’ll be able to earn more through the individuals you recruited.
Many people get paid royalties for their creation or product. They work once and earn income from their product over and over again. If you have the talent and skills to create books, logos or songs, you can get a copyright and earn royalties. This may require a lot of time and effort in the beginning, but once created, you will earn from it every time it is used.
If you have experience or knowledge in specific topics and you love writing, you can write an ebook and earn from it. Think about your area of expertise or an experience you have been through that other people can benefit from. You can create and sell your ebook on your website, Amazon, Clickbank, and other websites. You create it once and earn from it every time someone downloads a copy. You may also recruit other online marketers to sell it and earn from them.