Making money while you sleep is what a lot of people dream of but fail to hit the finish line, due to the many, many reasons and excuses that anyone could possibly think of.
So how do you really make a passive income online?
There's a lot more to it than a single answer, so I have dedicated this whole post to helping anyone who wants to create a passive income online can use.
I do it and thousands of other online marketers do it as well, so there is no reason that you can't either.
Some of you might have the same negativity around you like I did but please just brush off anything you've heard from others as they are simply not you.
I have been living completely from my income online for the past 4 and a half years and my journey was not the prettiest, which I'm sure was almost similar to others who have accomplished such a feat.
This is not going to be the easiest thing in the world as it does require a lot of understanding before you even step foot in the door.
If you can not comply with any of the items on the list below, don't waste your time, because the chances of you creating any type of income online, are slim to none.
- Willing to learn
- Hard work
- And more patience, hard work, and determination
Such a simple list but is oh so critical to anyone's success online.
So What is Passive Income Anyways?
For us online entrepreneurs, we look at passive income as a way to get paid over and over again by the work you did in the past.
Investopedia has a more in depth explanation but for the purpose of this post, you simply need to know what I mentioned above.
All the cool kids are using the term these days and almost every single one of them aren't actually bringing in any of it.
Most of the time, the phrase is searched by someone who wants it but does not have what it takes to make it happen and that is okay.
I do know that almost everyone who talks about it might not take action but the 1% that do simply shows the type of passion and desire they have to make a change.
I don't care what option you decide to go with, the ones mentioned in this list will make you an income that most people only dream of.
So without wasting anymore time, let's get right into things
1.) Create a Blog
This is my absolute most favorite form of passive income online.
Just like this same site you are on, I have several other blogs that make me money in my sleep, just by providing people like yourself the information they are looking for.
If you found my site through a “how to make passive income online” search on Google, that is probably how you landed on this page and what goes into things like creating your blog.
The same thing would happen if you were to search for “how to bake a cake” or any other type of information or product.
By providing the world wide web with information that people are looking for, you can make a passive income in the process.
It is fairly simple and only requires a website, some content, and of course the proper training on how to make money with your blog.
The money is made through advertising, sponsorships and affiliate products, which I will be getting into next.
With sites like Wealthy Affiliate, you are able to get the complete package, so definitely check them out for all your blogging needs.
2.) Affiliate Marketing
There is nothing better than making money online by selling other people's products. which is exactly what you will be doing with affiliate marketing.
Almost every store you shop at online has an affiliate program that you can join and start making money by simply promoting their products.
Whether it be Amazon, Walmart, Macy's, or whatever online retailer you can think of, there is most likely an affiliate program attached to it.
By selling products from these companies, you are able to make a commission, which can really add up with every simple sale made.
Who do you know that does not shop on Amazon.com these days?
Probably no one.
The beauty about all that is the fact that you can make money through a simple link that is generated specifically for you.
Customer clicks on your link, buys a product, you get paid.
And yes, it is really that simple.
Very simple but of course requires a lot more knowledge than what I just mentioned.
You can learn more here to see what I recommend for all your affiliate marketing needs as almost everything that you will find online is mostly designed for the product creator to make money and not you.
3.) Start a YouTube Channel
Very much like blogging but this time in video form.
Every single second of every single day there is someone making money through their YouTube channel.
Vlogging is monetized like a blog but in the early stages of any Vlogger's career, the income is generated through Google's Adsense program that will pay you for every visitor that sees your video.
Just like a blog, you will be creating your vlog around a specific topic and that is how you would attract your audience.
Whether it be gaming or cooking, there is more than enough room for you to start a Youtube channel so that you can start making some passive income.
Every walk of life is making millions of dollars with something so simple as Vlogging and if you are into videos and whatnot, there is no reason as to why you can't be added to that list.
4.) Create an Online Course
Some of you might have something you would like to teach and although you can do that through YouTube, your best bet will always be to create your own course.
By simply creating a course that can help solve one's problems, you can very much get paid for it.
The beauty about this method is the fact that you will make good money and you can also send it out there for affiliate marketers to promote.
You make money, they make money, and everyone is happy.
Thanks to sites like Teachable, you don't have to go into this venture clueless as they have everything you need to get going and keep things running smoothly.
I do plan on creating my own course sometime next year but I am already busy enough running different websites.
But for those of you who have some knowledge that you would like to share and get paid, this is one I highly recommend.
5.) Become a Drop Shipper
This is one of the most lucrative business models on the net but it does come with its challenges.
The way it works is actually really simple but without some marketing knowledge the whole money making process can be very, very complicated.
Unlike something like flipping, that has you purchase a product so you can resell it to make a profit, drop shipping allows you to flip without even touching any products.
The idea is you create a website populated with products, just like you would with an e-commerce store but these products will be from the company that you are going to partner with.
By being a drop shipper, you are able to get products at a wholesale rate from which you will then sell to turn a profit.
When someone purchases a product from your site, you will then take that money and purchase the same product from the drop shipping site, who will then send the product straight to your customer.
No shipping on your part but if they do decide that they don't want a product, you will have to deal with that part of the process.
The only problem with drop shipping is that you will need a really good budget to promote your website as your main source of traffic is going to come from ads that you will purchase from Google, Facebook, or any other means that allows you to get visitors to your site.
Oberlo is a great place to learn about drop shipping as they are linked with Shopify and will have you setup in no time.
Creating a passive income online is truly an amazing thing and it has been the same way I have made my living for the past 5 years.
I personally utilize and recommend blogging and affiliate marketing because they are the cheapest places to start, but any of these opportunities will work.
These are the best forms of passive income online and I would recommend you at least try one of them if you really want to live that laptop lifestyle you see all over the place.
No matter what route you do decide to take, I'm 100% sure that you will enjoy the journey, especially if you take things seriously and treat it like the business it is.
Just keep in mind that this passive income is going to require a lot of work on your part but the end result will very much be worth it.
I hope this short list serves you well as they are truly the best ways to making a passive income online.
Thanks for reading and good luck!