Introduction
Make money while you sleep!!! Sounds impossible right.Not quite.
Thanks to passive income, it is infact possible to generate income even when you are sleeping, literally.
But first of all , we have to understand what exactly is passive income?
What is passive income?
Passive income is income that requires little to no effort to earn and maintain.It is an income stream where you get paid after the work is done.This is in contrast to active income where you have to invest a substantial amount of time and effort.
Now, how can we generate passive income? What are the strategies or techniques available? Although threre are plenty of methods available, here I am listing only a few.
1) Start a blog
Blogging is one of the most profitable and reliable source of income today.While creating a popular blog may seem to be a difficult task initially, but the benefits of it are long-lasting.The most crucial step of creating a blog is to find a proper niche or topic.One that is both popular and marketable.Another important aspect of blogging is monetization.That is, implementing ways to generate revenue from it.
Some of the techniques employed to earn money from a blog includes -placing ads in a blog ( preferably via Google adsense) - including affiliate links - sponsored ads, etc.
2) Write an e-book
Find a popular niche or one you are comfortable with and write about it.Do not forget to research your topic thoroughly beforehand.Then sell it on a platform like Amazon Kindle.You can also sell it through your own channel (if any)like on a blog or website.
3) Try out Affiliate Marketing
Affiliate marketing is the process of earning a commission by promoting other people's or company's) products.
You can promote one or multiple affiliate products and try to convince potential customers to buy them.Promoting a product can be done in various ways like - creating a review blog of merchant's product or through a website related to a certain topic and providing affiliate links in it.
4) Online Courses
An online course is another popular way to earn money online.Once it is launched succesfully it requires little or no maintenance apart from updating content that might have become stale or are no longer relevant.There are plenty of sites available where you can build online courses like Udemy or teachable.
5) Selling Stock Photos
If you are interested in taking photographs and have a good collection of them - you can earn a substantial revenue by selling them online.There are plenty of stock photos websites whom you can submit your photos and receive a commission every time someone purchases oe of them.
So these are just a few of the ways you can adopt to generate a steady stream of passive income.
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