We know how to make money traditionally; by trading hours at your employer’s office. But what we all would love to have is an income while we’re not working. While we are not at our employer’s office, but at home or an exotic beach. Earning money while you aren’t working is called a passive income, because you act passive and still getting the money. Except, to create a passive income, you’ve got to work hard and smart to activate a stream of passive money.
A passive income stream has long been the holy grail of assets. After all, who wouldn’t want to make money while they sleep? I myself worked in a traditional 9 – 5 job before starting my traditional company. I owned a business with employees, an expensive office and way to much inventory I didn’t even need. But when I first learned of passive income, I become obsessed with the idea of creating enough passive income to cover my expenses.
That lead me to create this blog. Plus, research dozens of other legit ways to create a passive income. There are many different ways to create passive income. Some of those ways are explained in this article.
You’ll also be happy to know in 2018, generating passive income has gotten a lot easier. Years ago traditional real estate investing topped any list of passive income sources. But, as you may know, not too many had enough money to invest in real estate. Today there’s investments that require less time, less money, and less risk for far greater return.
Here are a few surprisingly easy ways to make money while you sleep that you can start today, without any hassle.
Best Passive Income Ideas for 2018
# 1 – A Business That Is Systematized
A business that runs without you. This is the holy grail of passive income. Better yet, it’s more common than many believe. The advantages to owning a systematized business are:
- The business can still grow if you hire the right people.
- It can sell for a premium.
- If certain aspects of the work fulfill you, you can always jump back in.
The common belief is that only internet businesses can be systematized. Think 4-Hour Work Week “muses”.
But local businesses can just as well be systematized. Sam Carpenter in his wonderful book Work The System describes how he removed himself from working in his call center that generates him mid-six-figures a year.
# 2 – Launch A Blog
When you have a blog, you can send give your audience some recommendations, for example which books to read when they want to have some kind of special information. When people click on the link and purchase a product, you can earn a commission. That’s the tip of the iceberg for ways to make passive income from blogging. There’s advertising, affiliate marketing, membership sites, selling products, and more.
A growing blog is a phenomenal asset to own for this and many other reasons. If you’re interested in starting a blog, I will create a free online course: How to start a blog!
With this free course, you’ll discover:
- Chapter 1: Reasons you should (or shouldn’t) start a blog
- Chapter 2: How to determine what to blog about
- Chapter 3: An insanely simple guide to launching a blog
- Chapter 4: How to make your blog a profitable blog that matters
- Chapter 5: Top traffic tips
- Chapter 6: Getting the maximum results in minimum time
- Chapter 7: Trusted free blogging resources
# 3 – Niche Site Owner
What’s the difference between a blog and a niche site?
Niche sites are in many ways easier to manage than a personal blog. Unlike most blogs, a niche site’s content is more focused. For example, a niche site in the personal finance space, would be all around one topic, e.g. Individual Retirement Accounts.
The goal is to become an authority on that single topic. The benefit of having your content centered around one topic is Google more easily recognizes your site as an authority. This allows your site to generate a lot of free traffic through SEO.
Now, compare this to a blog where you’re typically managing a lot of traffic sources (SEO+Social Media+Email Marketing, etc…) and you can start to see the benefits.
# 4 – Affiliate Marketing
Affiliate marketing is a phenomenal way to make passive income. Here you’re selling others products and services in exchange for a percentage of the sale or set fee.
Many affiliate programs are even recurring, so you can get paid each month as long as that person continues to be a customer.
# 5 – Write an eBook
When you write an eBook, everytime it gets sold, you earn royalties. That’s the reason why you should to do this. Royalties are the kind of passive income that big artists got, such as J.K. Rowling, Justin Bieber, Mariah Carey and many, many more.
# 6 – Crowdfunded Real Estate
Real estate is one of the primary ways the wealthy have made money for decades. But because of the risk, time, and upfront money associated with real estate–it’s not a suitable investment for most.
However, a new way to invest in real estate is popping up: crowdfunded real estate. Crowdfunded real estate offers an easy, low-cost way to invest in real estate.
# 7 – YouTube
You can create videos from your smartphone and put them on YouTube.
A common way people are making money on YouTube is through product reviews. For example, you review a product then put an Amazon Affiliate Link in the description box. YouTube then allows you to share in the advertising revenue as well.
Other ways of making money via YouTube are creating good sponsored content and of course by getting lots of traffic so you get a lot of advertising income. More information will follow in my soon-to-come online course about: Making millions on YouTube.
# 8 – License a Business Idea
If you have an idea to enhance a product or service–you can get paid to license that idea.
I see this a lot on Shark Tank where Kevin O’Leary loves to buy 100% of a company and license the idea to the entrepreneur. Kevin sells it hard for the fact that the entrepreneur can sit back and collect royalties for every unit that sells.
# 9 – Multi level marketing
For a few hundred euros or dollars, you can start your own business. You immediately have a complete website with a cloud office that keeps track of your administration. You will receive a business manual, products to use and to sample. The company offers you standardized training and all tools, such as folders, an app, newsroom, etc. The one who brings you into multi level marketing is giving you specialized training, focused on who you are and how you can do business.
• The company manages the stock that you don’t have to buy and develops the products based on market demand.
• When your sales increase, your costs do not increase as they do with a traditional company.
• The company can deliver products directly to your customers on your behalf. This also means that debt management is taken out of your hands.
• You receive a direct income from these transactions.
• This allows you to work independent of location: the only thing that matters is that you have a computer or use your app!
Your customers can do the same! Mouth-to-mouth advertising is still the best advertising. By talking about your experiences you are currently putting this into practice on a daily basis, which creates a network of users. LinkedIn is a good example of this, as is WhatsApp. Have you ever seen advertisements for them? No, because the way you get on LinkedIn or WhatsApp is via someone else! Isn’t it nice that the company is paying you for this behavior?
In this way, you develop passive income in addition to direct income, which is called royalties. This income is your retirement and can also be inherited.
Speaking for myself, I am a real fan of multi level marketing. It is an opportunity in where everybody is able to earn a royalty income which can be increased not only based on your network, but also on how you train and help people to develop theirs. Since I’m in multi level marketing, I have never been lonely, found very much like-minded people, made new friends and I’m earning royalty income!
If you want to have a royalty income and would like to work with me, send me a message!