Passive income is one of the best ways that you can make money in the year 2022. Because of the Covid-19 crisis right now, the safest way you can earn money is from your own home, and if you are looking for the best way to make money from your home, passive income from the internet is one of the best things that you can do. With a passive income, you are unemployed, and you will be your own boss.
Passive income is also one of the safest ways that you can make money. Either as your second job or if you can make a solid business with passive income, as your first job. There are a lot of people living only based on their earnings from a passive income. Because you are your own boss, this type of income is a very low-risk, high-reward job.
You also have a lot of options to choose from, and you can choose which of them are suited for you, so you are not stuck with a couple of limited options that you do not like, and you can earn passive income from whatever you like. In the end, if you are looking for a source of income, so you can make money out of it and meet your retirement, passive income is the way you want to go.
In this article, we will be showing you some of the best ways that you can have a passive income that will guarantee the minimum amount of $1 000 if you do the right things. So sit back and enjoy reading your way through wealth.
Have you tried making passive income before?
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Affiliate Marketing
One of the best ways you can earn passive income is from the internet, and of the best ways you can make money from the internet is by affiliate marketing. Affiliates are the bridge between a seller and a buyer. They will promote the products they want to sell, and for each sale from the promoted product, they will receive a commission. The commission they receive depends on many factors such as the affiliate program or the value of that product. The amount of money that each affiliate makes also depends on a lot of things, and the amount of money that affiliates make varies.
There are a lot of different things that you need to consider as an affiliate marketer. The first thing and the most important thing you need to choose is a platform to do affiliate marketing in and focus your business. Depending on the niche you choose, different platforms are more optimized for the purpose you are looking for. As an example, if you want to affiliate VPNs, one of the best places to start is YouTube, or if you want to affiliate cosmetics and beauty products, Instagram might be a decent choice. Generally, you want to choose the platform that offers you the most amount of traffic for your affiliate niche. What is traffic?
Traffic is the most crucial part of affiliate marketing. Traffic is the number of people that visit your page or website. Just like customers of a store in real life, traffic is the same thing for an affiliate. For an affiliate, the amount of traffic they have will determine their income. If an affiliate has a lot of traffic they can even make a living out of only affiliate marketing.
One of the best places that you can get your traffic from is Google. You can get a lot of traffic if you have a website or a blog page. There are a lot of bloggers and website owners that earn a lot of money from their network. Of course, having a blog or a website is not an effortless task. Affiliates need to constantly analyze their data, their competitors, and a lot of other things so they can make fresh new content that brings in traffic for them. You also have a lot of rivals in the business and that means that you definitely need a solid strategy to take over and make a name for yourself. You can see an example of how much a blogger can make with affiliate marketing and having a blog down below.
Another great place to do affiliate marketing that can get you a lot of traffic is YouTube. YouTube is the second most popular website after Google, and it also has a lot of traffic, it does not have that many content creators, so it is easier to get traffic and start affiliate marketing.
Other social media such as Facebook, Instagram, Twitter, TikTok, Reddit, etc are also great sources of traffic. There are affiliates working only on only one social media and making money out of it.
Overall, we recommend all affiliate marketers use all of the platforms that they can. Affiliates being everywhere will increase the amount of traffic they receive, and if they get traffic in one of the platforms, they can transform that traffic to their other platforms, and in this way, they can promote themselves.
The downside of affiliate marketing is that it might take a lot of time for you to build traffic, and get started. You need to choose the niche that you want to work with and then find the formula that you should be working with so that you can have the most successful business out of the niche you are working with.
There are a lot of people who make money with affiliate marketing. You can see how much affiliates make with affiliate marketing from the statistics below.
An example of an affiliate, Adam Froy made about $74 000 in a month with an affiliate marketing blog.
Selling Information Products
Another strategy for getting to a passive income is selling informational products such as tutorials and guides. You can sell these types of products in a lot of forms including, e-book, videos, or audio formats, and have these types of content for sale while you sit back. The way this type of business works is that you need to gather an amount of traffic, just like what you did with affiliate marketing. You can get the traffic you need from anywhere you like. The most common traffic source for this type of content is usually on YouTube. After you have your traffic, you can sell them your premium courses on websites such as Udemy, Skillshare, or Coursera.
The model you might usually see for this type of content is the "freemium model." As we mentioned before, you can commonly see this model on YouTube. In this model, a YouTube or the person who wants to promote their skills tries to build up the following traffic using free educational content, and later on, when they have enough traffic, they will create more detailed and organized content and tend to charge for it and call it premium content. The example that we give you is an example of a game developer on YouTube. He talks about game development and teaches tricks and tips about game development on his YouTube channel for free, but he has a course that teaches you all you need to know about game development, and the course is not free.
The first step in making a business out of selling this type of information is to find the information that you want to sell. Usually, the content is educational, and what you will be doing is selling your skills. You have to gather traffic with the same type of content and then record premium and more detailed content and put it up for sale. Remember that only one course or one set of content will not be enough, and you have to keep getting traffic, keep making more and more premium content, and updating the old ones. The key in every business, and especially in this type of business is being consistent.
Do you have some digital knowledge you can share with others?
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There are both advantages and disadvantages to this job. The perfect thing about this job is that it will not take much of your time and you can have a lot of passive income after you put a little time into making premium content. The disadvantage that you might face while in this business is that not all types of content are good for premium content. If you want to have good content, then it takes a lot of time to prepare that content, maybe months, and if it is not good, all the effort will be lost and you will be back to square one.
So, a brief look at what you need to do. You must make a strong platform, gather people around your platform, market your products and plans, and repeat marketing your products. You must not stop at selling only one product, and what you should be doing is having more and more excellent products.
In the picture below, you can see how much an average person makes with online courses.
Making Apps or Video Games
This one is the toughest one to do, but it comes with a great reward. Believe it or not, some independent developers live and have an income by only making apps or video games. Just like all the internet businesses, because you are an indie developer, you need traffic so that people would know you. Using social media is a must in this business and you will get the most income out of social media traffic. Same thing with YouTube. If you have a YouTube channel, it will have the same effect as your social media accounts and it will bring a lot of income for you.
You also must have a website for your application, or your company in general. Remember that this type of business demands the most amount of traffic because you are straight up competing with major companies. The thing about competing with big companies is that they have a large team of experts in any field that you can think of, but you do not. Independent companies are not famous like the major companies, and the team is often small, so how can you get any income while there are richer companies in your field?
One thing you must know about making an app or a video game is that developing a well-made application might even take years to finish, so how can you make any money out of this? Plus, when you finish developing something there will be no guarantee that you will be making anything so what can you do? Some people pursue this career as their second job, and they have a main income along the side of developing an app. What this does is that it will make the development process even longer, so it would take a lot of time to get to a passive income. We are here to tell you that you do not need to do this and that there are ways you can make money while developing an app. There are 3 ways.
The first one is for those who do not have enough traffic and the ones who are struggling to get traffic. The way is signing a contract with a publisher. A publisher is someone that people already know, and when you release your app, the publisher will publish it under their name, so that people will see your product. The publisher will pay you during the time of your contract but at the other end, they will receive a percentage of your product sale. The percentage they will take from your game is usually about %10 to %20 which is a lot for an indie developer. If you already have a good amount of traffic you might not need a publisher and you can publish your product yourself, but if you are short on money while making your application, publishers are an option.
The second way is making money from starting a campaign. You can start a campaign for your application or video games in places such as Kickstarter. You might see a lot of people trying this way and not making any money and then think to yourself that these campaigns depend all on luck but that that is not true. Game developer Thomas Brush explains how he made about $100 000 in a week for both of his games on Kickstarter.
There is a solid formula for making campaign video trailers that is the most profitable way of making money. This method is useful for both apps and video games
Peer-to-Peer Lending
P2P (peer-to-peer) is a type of personal loan between you and a borrower. P2Ps are backed up by P2P companies such as Prosper and LendingClub.
As a person who lends money, you can have income from interest payments made by the loans, but since that loan is not secure, you might have no money in the end. Two main things can cut this risk. Investing a lower amount of money but on multiple loans instead of one. The amount of investment on a loan on the P2P websites that we mentioned above is $25, so if you have $100 you can invest in four loans. The other thing you can do is to analyze the history of those borrowers so you would have a better idea of who you are investing in, and pick the borrowers you want.
The bad thing about this job is that it will take a bit to get used to it, so it might not feel like you are having a passive income at the start, but if you keep doing it, and getting better at it, it will benefit you greatly.
You can see how much a P2P investor makes from the statistic below:
Social Media
A great way to have a passive income is through social media accounts or your traffic. If you have enough people following you on different platforms you can always use their financial support to your advantage. There are a lot of YouTubers and social media influencers who rely mostly on the financial support of their fans on websites such as Patreon. Most of the time, the best platform for having a passive income from this type of business is YouTube, and you can easily promote your Patreon link, or even take advertisements. It can easily make you a passive income for a living while you focus on your different projects.
As a case study, YouTuber Brian G Johanson made about $1 000 with 38 Patreon supporters.
Making a YouTube Channel
Another popular way that you can make money out of it, is making money with a youtube channel. Many YouTubers make a lot of money out of having a YouTube channel in a lot of different ways. Based on the information on SmallBizTrends, a YouTube can make $18 per 1000 views. The amount of money you make on YouTube depends on the amount of views you get, so a great YouTube such as a PewDiePie has a $40 million net worth, but a new YouTube will not make that much.
There are other ways that you can make money off a YouTube channel. You can do sponsoring, advertising, or affiliate marketing. Usually, YouTubers do all of these or some of these at the same time.
Making Money off Google Adsense
One other way that you can make money with a website is making money off Google Adsense. How this works is that you need to make a website and make it SEO-friendly so that you get some traffic on your website. The main key to making money out of Google Adsense is choosing the right keywords. There are many keywords and each of them has a price of its own.
When you choose a keyword and work around them, Google Adsense will display some advertisements on your website depending on the keyword of your page, and if a user clicks on them, you will get a commission for it. The amount of money you receive per click varies based on the keywords you are working on. If your keyword is popular, you will receive more money for each click on an ad. The most important thing about making money with Google Adsense is choosing the right keyword.
You can see from the example below that a blog can even make more than $5000 per month with ads. The blog example is Sewrella.
Making Money with Sponsoring
You can also make money out of having sponsor sponsors provide you with a lot of money. If you have a website or a place with traffic, then you can get a sponsor and work on your projects. Sponsors will give you a passive income. Maybe the income is not so passive because you need to work for the money and if you do not, they will cancel the contract, but the money will keep on coming to your account while you work on the project you like. It is basically like the publisher case that we mentioned before, but you can get a sponsor in all the cases.
DoYouEvenBlog notes that the amount of money a sponsor gives you can be different from $100 to $5 000 depending on your traffic. Their website itself made money out of sponsoring with less than 1 000 traffic.
Write an E-book or a Magazine
Selling e-books and magazines is also an easy way that you can make passive income out of it. The way that you want to do this is by self-publishing your products on a website such as Amazon’s Kindle, and selling your online product. You do not need to pay for prints or any of that. All you need to do is to write and edit your e-book or magazine and publish it on Kindle. It is fairly easy to self-publish it, but you should not expect success with your first product, and you need to build a population or traffic of followers for yourself to become successful. You can read how the owner of the website Makealivingwriting, made $45 000 with self-publishing 10 e-books.
Sell Stock Photos, Videos, and Arts
This one is for our beloved content creators and artists. If you have art in creating each of those contents we mentioned in the heading, you can easily make them and sell them on a website such as ShutterStock. You put your content there are people like web writers or other content creators who will buy your stock product, and use it.
Selling stock art, video, and pictures are great if you love what you do, and you want to make a passive income out of it. For example, according to ImprovePhotograohy, each image makes about 25 to 45 cents per sale, and the owner of the website made about $1 000 per month in the year 2011 out of this.
Would you rather do online or offline businesses?
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Conclusion
Having a passive income is great, and we recommend getting a passive income from the internet. The Internet is the new and modern way of doing business, and it is growing at a very fast rate. If you can make money out of this gigantic industry it is the most secure way and the most secure money for your future. Making money from the internet also comes with very low risk because you do not need a lot of money to start a business, and make money. The only thing that you might need to get a passive income from the internet is traffic.
On the other hand, if you have enough money, and you have good knowledge about how you can make money by renting a property or lending loans, the job is very rewarding. Either way, having a passive income is one of the best sources of money you can have, especially for retirement. Some people make a living out of only passive income. In this article we showed you how you can reach a passive income, so get out there and start earning money.
