HOW TO EARN PASSIVE INCOME IN 3 SMART WAYS

HOW TO EARN PASSIVE INCOME IN 3 SMART WAYS

Did you know there is no sweeter income than passive income?. It’s sweetness stems from the fact that you don’t have to keep working yourself out to the point of getting frustrated

“Salary isn’t enough to make you rich”. This is a statement that I believe you have heard. You may agree with it or not but it won’t change the truth that salary alone may never give you that luxury you always dream about.

With the rise of insecurity of jobs these days. One is expected to have more than one plate in his table in other to live above the waters.

It is for this reason that seeking other sources and streams of income that would flow in as passive income becomes highly important

WHAT IS PASSIVE INCOME REALLY?

You may have been hearing this word every now and then but do you know what it really means?

Well, If you asked me what passive income means. In simple terms, I would say passive income means “making money without working”

In a more clearer and serious definition. Passive income is the money you make by playing little or no role in the activity that brings the money because you have already done the real work in the beginning. You have a least or no involvement in the continuous activity of making the money.

There is nothing better than making money consistently without being actively involved in the activity that brings you the money. It is what every sane man strives for

However, I like to be honest with you about making passive income. Behind the scenes, things happen.

Before getting to make passive income. you will have to build and set a system that will yield it.

What this means is that in the beginning, you have to be actively involved in the system either with your time, work, money or all of the three. And when such system is all set, you are ready to start earning in autopilot

So technically, you have to do a form of investment in order to start earning passive income

On this note, a better and shorter definition of passive income would be “getting paid even after the work is done”

Now, there are alot of things you can invest your money on both physically (Usually require huge capital)or online that could make you plenty of income passively.

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But in this post, I will be giving you 3 online passive income ideas that is capable of making you millions of Naira and dollars. This is no exaggeration. Stay with and see few out of many success in these ventures

3 MOST LUCRATIVE PASSSIVE INCOME IDEAS IN 2019

Let me re-emphasize that this list is non exhaustive but these are the three I have had to see more success stories in and also the ones that also brings the money in buckets (not in tickles)

1. SELF PUBLISHING ON KDP

Self publishing is powerful and lucrative. Most interesting is that It is as easy as ABC these days.

Before we go any further, check out how this guide made almost $2,000 in one month self publishing on Amazon KDP

Virtually anyone can write a book in any topic and get it published without stepping out of his room. All thanks to Amazon Kindle direct publishing, okadabooks and the likes.

This can be a very smart way of making passive income while you do other things with your life.

If you have penchant for writing, it can be a life changing decision to consider self publishing and most importantly KdP. It is unbelievable the kind of money people make from self publishing on kindle all on autopilot.

But I’m not a good writer. This one is not for me

Not true. Infact, self publishing is not for writers but for people who want to make money from self publshing

Even if you do not understand a thing about writing and have no iota of passion for writing but still love to tap from this gold mine here.

But how? Is that really possible?

Yes, there is nothing more possible than this. Lol and it’s just simple

You just hire the services freelance writers from fiverr.com or other freelancing websites at a very low price to get the writing work done for you while you take all the profit

Check this out for a detailed guide on how to make real money in Kindle Direct Publishing

While starting a blog and monetizing it may be another great way of earning passive income. I highly recommend self publishing as its quicker and requires less time, money and work investment.

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However, if blogging is your thing. There is no limit to how much passive income you can earn from it from ad networks to affiliate marketing to sales of your products but this may require some continuous work

2. CREATING LEAD GENERATION SITE

Another great way of making passive income is creating a lead generation site. Funny enough, many people do not know such online business exist.

Be glad you came around this post as I quickly tell you what it is in few words

It is a type of website that provides referral to businesses. It is somehow similar to affiliate marketing but not exactly same thing

Lead generation site works thus, say you have a site that focuses on home decor where you write, educate and inspire your loyal readers on everything about home decor

Then you would have links within the site of local businesses involved in the business of home decor where your readers could contact them for their services and products.

In simple terms, you refer your readers to local businesses and these local businesses pay you in return for referral

This is a cool way of making income passively as long as your website keep offering values to your esteemed readers and the links you have got. Just do justice to great SEO and you are good as Google will continue to rank your sites for searchers

Before you think less of this gold mine, this guy made over $9,000 in one week with lead generation site

The post you made some years ago can keep connecting readers and customers to local businesses and your passive income will keep flowing in

If you have got great local businesses and companies in your locality. You can network with them, make connections here and there and consider setting up lead generation site to enjoy the bliss of passive income

Bonus Tip : If you have interest of investing online with little capital as low 3$. Check out my post on How to invest and earn with Fast2earn

3. CREATING MEMBERSHIP SITES

You have probably read stories of people making plenty of money through membership sites and you are probably wondering if these stories are true?

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While most of these stories are blown out of proportion, you cannot entirely rule out the fact that people are killing it with membership sites and even making more than you have actually read or heard

So is having membership sites another great way of making passive income ?

I think no one comes close if you know what you are doing

What is Membership Site

Membership site simply means a tantalising locked site. A website that contains valuable information or training with no free entry. You have to pay a fee to be allowed access to such websites.

How does membership site make money?

Membership sites makes passive income through its leveraging power in the sense that your content can be created once and it keeps selling year in year out

Also, creating membership site is one of the best way of making passive income as it can be completely automated. You will agree with that this is the beauty and the perfect definition of passive income

And if we all tell us ourselves the truth, this is the dream and goal of every man. something you created and worked on once keep pushing you buckect of money non stop.

Before I finally let you go, here is a list of 7 membership websites that make above $100k per year. For the records, the content of most of these membership websites have been created years back

CONCLUSION

The feeling of making money without working day in and day out can be blissful. Every man working tooth and nail today hopes that someday, he will sit back and money keeps flowing in for him.

In this post, you have seen that aside from affiliate marketing, blogging, blog flipping. There are smart ways you can make passive income now without waiting for old age. Most people believe young age is time to build invest and make passive income at old age.

This post has successfully defeated that myth. You can earning passive income today.

Your Turn

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Onah Edwin

Onah Edwin is a passionate blogger, writer and a certified digital marketer who helps businesses grow online. I also share blogging tips and effective ways to make money online
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