Due to the current pandemic and crisis in the world, which has caused thousands of people to lose their full-time jobs, more and more people have gained interest in earning money online.
When it comes to making money on the internet, there are actually 2 different ways to go about it.
The first way is what’s called active income. Active income is like going to a 9-5 job, where you have to physically show up and physically do manual work to actually earn that income. So in other words, if you’re not actively doing it, you’re not going to actively earn it.
The second way is what’s called passive income. Passive income is what you earn without doing any additional work. But does it take work to set up passive income streams? Of course it does! But the cool thing about passive income is that you only have to set those up once and you can continue to earn passive income for many months or even years to come.
So this article is about 5 different ways for you to earn passive income over the internet.
Social Media Marketing
Many businesses nowadays don’t understand that they need to be advertising on social media and digital media to have a chance of keeping up with their competition and to really evolve into the digital age.
When a person is familiar with the basic strategies of social media marketing, it only takes them few minutes to set up social media ads. If you can learn this skill, you’ll be able to provide great value to the businesses out there like doctors, dentists, lawyers, real estate agents, insurance agents and many more, who have no idea how to even set up simple ads on Facebook, Instagram, Google, LinkedIn or Twitter.
As a social media marketer, you can become the bridge between these old school businesses and their customers.
Youtube
The cool thing about Youtube is that since most people are not really comfortable filming their videos and putting their face out there with valuable content to offer on a regular basis, there’s actually much less competition on Youtube for every niche than you think.
So if you are willing to face the camera and provide good content to your audience on a consistent basis in the form of Youtube videos, you will be at an advantage over the rest of the population. And since everyone has a different interest, there are so many different Youtube channels out there. There are channels about simply all kinds of topics that you can think of.
That means you don’t really need to start anything from scratch. You can look into what’s already popular by checking what kind of videos have the most views in the shortest time, and choose the topic for your new Youtube channel accordingly.
Once you get 4,000 watch hours and 1,000 subscribers, you can begin to monetize your Youtube channel. This means you’ll paid for every single ad that somebody views on your channel.
In fact, once you have a Youtube channel and a certain number of followers, you can also make money in several other ways, for example through selling merchandise, affiliate marketing, selling any of your own products or services, e-commerce etc. As long as you can consistently put out content on your Youtube channel, regardless of how long it takes you to be able to get there and develop a good following, you will eventually start making significant amount of money with your Youtube channel.
Amazon
A lot of people don’t really know this, but there are actually many different ways to make money on Amazon. You can do it by publishing a simple Kindle e-book, for instance. Identify niches on the Kindle marketplace that have more demand than supply, write a short and simple Kindle e-book, and capitalize on your writing skills by selling your little e-book for $5 or $10 on Amazon. Once you start getting 50 or 100 sales a month, you can make a significant amount of passive income with no additional work.
But it’s not just the Kindle story with Amazon. There is Amazon Wholesale with FBA (Fulfillment by Amazon), which is about creating your own private label brand. They also have the Amazon Associates Program, which is the largest affiliate program in the entire world.
Udemy
Udemy is one of the largest marketplaces for digital courses. They have courses about everything, ranging from coding, languages, business, marketing and cryptocurrency to painting, cooking and DIYs.
I launched a course on Udemy in January 2020 and got over 10,000 students enrolled into it within the first 3 months. It has so far received about 100 reviews and has become a good source of passive income for me on a persistent basis.
Upwork & Fiverr
These freelancing platforms are by far the best way or means to make income online. Reason why I say this is that you can literally sell any skill or service that you’re good at on these websites.
Upwork and Fiverr also provide a good platform for enterprising individuals or aspiring entrepreneurs to start promoting their services for free by simply creating a profile on these sites and describing what is it that they are offering.