Imagine having the freedom to do what satisfies you without worrying about repercussions. That’s what Passive Income brings…
DO NOT READ ON if you are lazy; the name “Passive income” is deceptive- it implies that one can do nothing and money will pour in.
The point of income isn’t about sitting on your butt all day. It is about putting out work up front to satisfy yourself later on with free time.
Passive income is liberty. True independence. An escape from the 9-to-5 job.
Passive income is when, after the job is finished, you continue to get paid. Royalties from books, movies, or music do not require active attention, just like revenue that comes from property investments or business investments.
If you’re still reading then you are someone who’s serious about establishing financial confidence and I encourage you to read on to take at least ONE thing away from this article.
Most passive income thoughts take a level of upfront work to make (like composing an e-book). You cannot make something out of nothing as 0 multiplied by anything is still 0.
Passive income will not grant you financial freedom because financial freedom is a LIE. Passive income grants you financial confidence. Anybody is financially free to do what they want, but few are financially confident enough to actually do it as they fear that they cannot earn it back.
Now that you understand that passive income is not for the average person who skims through sites looking for a quick solution to their financial problems, here are 3 proven ways of making passive income:
1. Create YouTube videos.
YouTube has grown astronomically in the past several years and is continuing to do so every day. You can produce videos in almost any field that you like — songs, tutorials, opinions, humour, movie reviews — whatever you want. You may attach Google AdSense into the movies, which will overlay your videos with advertisements that are automatic. You will make money for every time someone watches and ad.
The keys are to market those videos on networking sites to create videos that are compelling, and to make enough of these that your income will come from several sources. There but it can develop into a cash flow resource for a lengthy time, once a movie is done.
YouTube takes time. A LOT of time. This is NOT a get rich quick strategy.
Enter the platform with a content strategy to guarantee an edge against your competitors.
2. Try affiliate marketing to create sales.
Contrary to popular belief, you do not need a massive following to do well in affiliate marketing. Yes, the more followers you have, the higher the chances of you earning more. Affiliate marketing has more to do with your skill in sales and closing and what affiliate program you’re in rather than the number of people who follow you.
By being an affiliate marketer, you help a business sell their product and you get a percentage cut on every sale. Instead of being paid a salary (like a regular sales job), you are being fully reimbursed for your sales. However many sales you make is directly correlated to how much you earn.
The reason you don’t need a big following is because a good affiliate program could pay something like $100 for every sale. Imagine the freedom an extra $100 every single day could give you if all you had to do was make 1 sale every day.
Now, this may be a turn off for those who aren’t that confident in sales but if you’re serious about building a passive income and you truly want financial confidence, you should be investing in building your skills in sales instead of turning away.
3. Take stock photos and upload them online:
Businesses earn a lot of money with clients. How many clients do you think a business will get if their site is literally just a block of text?
All businesses need stock photos, and there are MANY businesses out there.
If you enjoy photography, this is your time to shine. There are a multitude of websites online where you can upload your photos and business will pay to buy that photo off you. You will get a percentage cut from that website for every time someone buys a photo.
The best part is that a single photo- 1 click of a button- can be sold again and again. Create an attractive photo portfolio, place it on more or one platforms, and the action gets passive.