Online income is passive income
Passive income, in other words, can be said to be a kind of income which keeps coming while the work Is done once. Passive income is a term that has been misunderstood by many. Passive literally means inactive, you can make money inactively, how? Not by sleeping, but by doing the work once and then the money keeps coming in whether you are physically present or not.
For you to be financially free, you have to have more than 4 sources of passive income that pays you monthly or yearly.
I will reveal to you several ways you can make legit passive income online with your internet connection, a few knowledge and a personal computer.
Before even considering to make money online, you have to ask yourself what value you can give in exchange for the money, what skills do you have that can pay you passively without you being physically present.
Here are 5 globally accepted ways of generating online passive income
- Starting a YouTube channel in 2019 is very much profitable. You can choose to make videos of yourself talking about what you love and what you are good at. YouTube is one good way to promote yourself as an influencer, you could talk about anything at all, be it Technology, How To’s, self-help content etc. When you reach the threshold of 1000 subscribers and 4000 watch hours you can now mnetise your videos with Google Adsense etc.
- Blogging: You could start a blog on a particular niche, start writing articles, grow your audience and then start to monetize your content. Starting a blog is now almost the simplest thing to do, you could start up with less than $15. You can make money from your blog by monetizing with google Adsense, Affiliate marketing, selling your own stuff. There is no limit to how much you can make on your blog.
- Affiliate Marketting: In Affiliate marketing, you are getting new customers for companies through your affiliate link, if those customers purchase something through your own link you will be paid a certain percentage, starting from 10% depending on the company. Your affiliate link could be placed on your blogs or website and you will be paid for almost doing nothing if your audience buys through your affiliate link.
- Join fiverr: On Fiverr, you will find the best of graphic designers, photos from photographers all over the world. If you are a photographer or a graphic designer what are you still waiting for? Join fiverr now.
- Write an ebook: If you are talented in a particular niche, you could write a book on it. It could be a novel, personal development book or even books on physical and mental fitness. You could write a book and sell it on amazon or other online retailers of books for $2.99 or more and earn 70% of every sale. If you make 10,000 sales in a year that is a whooping amount of money made which you may not be able to make from a regular job.
If you are still skeptical on whether to start an Online business or not, This article on why youths should invest in online businesses will help a whole lot Read here: why youths should invest in online businesses
It is left to you to start that which you are comfortable with and seek ways to increase your income sources. Passive income is the best kind of income one can ever make and live on.