What Does Passive Income Mean?
Passive income is traditionally earned through a rental property, limited partnership, and other ways in which a person is not actively involved. Just active income, passive income is taxable usually but it is often treated differently by the Internal Revenue Service (IRS) agency. Portfolio income is also considered to be passive by some analysts, so dividends and interest would, therefore, be considered passive.
There are different ways to make real money online. In the past years, we have tried most of these money-making methods. While some are seasonal, a few of them are evergreen, being able to constantly put money in our wallets at all times.
One of the basic things you need to generate income on the Internet is traffic. The more targeted readers you get on your site or blog, the more any monetizing attempt can increase your earnings.
1. Open an online store – DROPSHIPPING.
Platforms like Shopify, WordPress makes it easy for you and me – people without any retail experience – to open an online store and sell physical or digital products.
In case you don’t know what dropshipping is: dropshipping is a business model where you sell a product to a customer, but the supplier stores, packages, and ships the product to your customers on your behalf. With Oberlo, you have access to millions of products that you can add to your store. Oberlo also allows you to send suppliers the customer details in only a couple clicks instead of doing the work yourself.
If you’ve already got a blog with decent traffic and loyal readers, you might want to use EDD plugin if using WordPress.
Or, if you’re starting from scratch trying to make extra money online, maybe running an online store through Shopify would be better!
Either one can be profitable, and neither requires a big upfront commitment.
Just start one up and make some money!
2. Selling information products / Create An Online Course
One popular strategy for passive income is establishing an information product, such as an e-book, or an audio or video course, then kicking back while cash rolls in from the sale of your product. Courses can be distributed and sold through sites such as Udemy, SkillShare and Coursera.
Opportunity: Information products can deliver an excellent income stream, because you make money easily after the initial outlay of time.
Risk: “It takes a massive amount of effort to create the product,” Tresidder says. “And to make good money from it, it has to be great. There’s no room for trash out there.”
Tresidder says you must build a strong platform, market your products and plan for more products if you want to be successful.
To create a popular and successful course, your best bet is to watch other courses on your topic. Then, look at the reviews. What are the aspects that people praise and what are the things people hate? How can you create something better than what’s already been created? Focus on creating content that solves the biggest complaints while emulating the positive aspects people rave about.
The platform you sell your course on will determine how to best make money. If you sell your course on Udemy, you don’t have to do much to promote it. You can almost set it and forget it. Maybe promote it to some blogs or on your own website. However, if the course is hosted on your own website you might want to run ads to promote the course. You can also build an email list so you can continue to promote future courses to that same audience.
“One product is not a business unless you get really lucky,” Tresidder says. “The best way to sell an existing product is to create more excellent products.”
Once you master the business model, you can generate a good income stream, he says.
3. Make Money with Affiliate Marketing
Affiliate marketing is one of the most popular ways to make money online. Throughout the years its popularity has gone up and down but it continues to prove to be a stable way to make money online. The best part about affiliate marketing is that you can be an affiliate for nearly any company, from Shopify to Amazon to Uber to FabFitFun.
Affiliate marketing allows you to earn a living by promoting other brands. If you’re a savvy marketer, you can earn a commission from sales by promoting retail products, software, apps, and more. While earning a commission may seem small, keep in mind that you can be an affiliate for several brands and include several affiliate links on a single blog post.
If you really want to make money online doing affiliate marketing, your best bet is to focus on content marketing. By building out a blog with several pages of content you essentially create an asset you can call your own. The best part about focusing on content marketing is that if an affiliate program shuts down, you can switch the affiliate link to a competitor without negatively impacting your side hustle income.
4. Start a YouTube Channel
The highest-paid YouTuber is 7-year-old Ryan, who reviews toys on his YouTube channel which made him $22 million in 2018. In the number 5 spot is Jeffree Star, who made $18 million on YouTube and has a cosmetics brand that sells about $100 million in products annually. His YouTube (and Myspace) fame helped him use his influence to make money online beyond his YouTube earnings.
Your YouTube channel should focus on a single niche so you can build a strong, loyal audience. For example, you can create makeup tutorials, stream video games, review products, teach skills, create prank videos, or anything else you think there’d be an audience for.
The secret to making money on YouTube is to create content people want that either educates or entertains. You can use a headline that’s clickbait to entice people to watch or you can use keywords that are optimized for YouTube search. Once you’ve reached the 1,000 subscriber milestone, you can officially monetize your channel with YouTube ads.
5. Become an Influencer
Building a personal brand can help you make money online. Did you know in 2018, Kylie Jenner made $1 million for every sponsored Instagram post, making her the highest-paid influencer? While it may seem like reality stars, singers, and athletes are the biggest influencers, keep in mind that even smaller-scale influencers can make more money today than they did a year ago.
To become an influencer you need to build a massive following. The easiest platforms to do that: YouTube and Instagram. Some of the biggest non-celebrity influencers often gained their first taste of exposure on these platforms. You might want to check out how to get more Instagram followers if you want to build a big Instagram audience.
To make money as an influencer, you can charge for sponsored posts, speaking gigs, create your own online store and sell products, add affiliate links in your bio, sell your photos, sell ads on your own podcast, get paid as a brand ambassador, create a book, get paid to appear at events, and more.
6. Review apps and websites.
Brands want to make sure their products create great user experiences, and they need real people like you and me to help them.
Use a platform like UserTesting and get paid to share your thoughts as you navigate websites and other digital products.
After you’ve done a few, you can also add “Product Tester” to your resume, which will help you get work outside the platform, too!
I tend to view UserTesting as the product testing version of Fiverr. You start out doing things fairly cheaply, and over time (if you want), you can start directly working with brands for a lot of money.
So if you like getting your hands on new things, give product testing a try!
7. Publish an Ebook
With Amazon KDP, it’s never been easier to publish an ebook. All you need to do is write the ebook, format it, create an ebook cover, publish, and promote it. Back in 2013, I created several ebooks on Amazon (took all but one down) and even though it didn’t make me rich, I still make some money from it.
You can choose to hire a writer for your ebook, a graphic designer to design the cover, or a freelancer to format the ebook for you to help minimize the work you need to put into it. It’s best if you focus on keywords based on popular searches on Amazon. I often used Keyword Tool, which allows you to find the words people use while searching so you can craft your title around it.
To make money online selling ebooks, you can market it a number of ways. You can give away your ebook for free for a few days. This helps you rank high in search results for a few days and get some reviews which helps you rank better for paid listings. Plus, I like to create custom graphics on Pinterest that match the “Pinterest style” rather than just placing the ebook cover as a pin. This has helped me get some clicks to my ebook from Pinterest.
8. Start a Blog
Blogging is one of the oldest methods for making money online. People who love writing tend to start blogs with a niche focus. For example, a blog about procrastination, cars, dropshipping, toys, etc., is often a narrow enough focus so you can build a loyal following, but big enough that you can cover a lot of ground.
You can start a blog on a number of platforms, from Shopify (remove the checkout feature so you don’t have to pay a subscription as you build it out) to WordPress. When you start your blog, focus on very specific keywords on a tight focus, and continue to expand into other but relevant categories as you grow and dominate new spaces. This will allow you to build a massive blog over time.
There are several ways to make money blogging. You can add affiliate links in your posts (don’t forget a disclaimer). You can monetize with AdSense by placing ads strategically on your website. Sponsored posts can help you make money from specific brands – this is popular among review bloggers. Bloggers can also sell digital or physical products on their website either. You can also use it to build authority so that you can eventually get speaking gigs, television deals, or big contracts from clients.
9. Consider Freelancing
The easiest way to make money online is to take your current job at your 9 to 5 job and do it online instead. For example, if you’re a writer, administrative assistant, graphic designer, teacher, developer, etc., you can take those same skills and find clients online who are looking for it.
There’s a never-ending list of websites for each sector of freelance jobs too. For example, freelance writers can apply for jobs on specific online writing job boards, but also general freelance websites like Fiverr, Freelancer, Upwork, and all the others.
If you find that your job doesn’t have a direct online money-making stream of income, you can look for other transferable skills you may have. To make money online as a freelancer, you need to start by building out a strong portfolio. That may mean doing some free work with some reputable mid-tier brands to start. Once you gain a strong portfolio, you can start reaching out to potential big clients to earn more money online. Remember, freelancing is a numbers game: the more personalized emails and applications you fill out, the more likely you are to get a response back.
10. Create an App
If you’re not a developer, you’re probably looking at this money-making idea and feeling a bit stuck. Fortunately, there is a way to have an app made that doesn’t involve any programming skills.
These days, marketers are using freelance platforms to find affordable developers to create apps for them.
When it comes to making money on your app, your best bet will be to add it to Google Play and the App Store. And while it may seem counterintuitive, having a free app can help you make more than a paid app. With a free app, you can add ads or premium features to help you make money. Since the free app will attract a higher volume of people, it’ll be easier for you to upsell them.
11. Become a Writer
With a growing interest in content marketing, more brands are looking for great writers to create content. The secret to succeeding as a writer is to be an expert in a niche. A lot of writers try to be generalists, writing for a wide range of categories from food to tech. However, having a niche focus as a writer allows you to write better content. When you have experience in the niche, you can offer a different perspective to a piece of content. That means you’re not just saying the same thing as every other article online. And that’s what brands really want to pay for. Your thoughts, experiences and inside information into their niche.
If someone asks for a marketing writing sample, send them marketing writing samples. Don’t send a finance article. Or a fitness one. It’s hard for a hiring manager to know how well you understand the niche’s industry if they can’t see a relevant writing sample. Apply to opportunities suited to your skillset and experience. Also, if your pitch doesn’t have a list of links to writing samples, it’s going to get ignored.
You can make money online on sites like these:
12. Create Side Gigs
Side gigs can help you make money online while you keep your full-time job. If you’re unemployed, side gigs may not be enough to hold you over. If you’re only looking to make an extra couple hundred dollars per month, this is a great idea. The work doesn’t always last long-term but it can.
Use platforms like Fiverr to create gigs. When you’re new to Fiverr, you’ll want to focus on offering a low price so you could get your first review. I’d recommend getting a friend to buy your gig to leave your first review so you can get started faster. Treat the friend like a client and actually deliver a finished product that you can feature on the platform on your portfolio. The thing with Fiverr is that it’s also a numbers game. If you look at top Fiverr users, you’ll see that they have multiple gigs available. The more gigs you have the more likely you are to be found.
If you don’t want to get paid Fiverr prices, you can turn to platforms like Craigslist to find side gigs. Under their jobs section, you can search for contract or telecommute opportunities. The great thing about the telecommute opportunities on Craigslist is that you can apply for them for any city in the world. Craigslist has a variety of side gigs from writing, business, design, accounting and more. So if your talents don’t match up with anything else on this list of money-making ideas, you might want to try a side gig from Craigslist, and start making money online. Apply to multiple opportunities to land a few small side gigs.
13. Do Translation Work
If you need to make money now, translation work is a fairly underserved niche. You’ll need to be fluent in at least two languages to do this successfully. So if you’re bilingual or majored in a popular language in school, this may be a great money-making idea for you to try out.
You will need to show proof of your ability to translate so if you have a language degree or experience translating text, you should show samples of your portfolio. Most companies will require a translation test. Keep in mind that you need to be fluent in the languages you’re applying to be a translator for. So you can’t use translation tools.
Sites where you can make money online include:
14. Sell Your Stuff
When you’re desperate to make money now, sometimes the only option is to sell your stuff. If you’re unemployed and struggling to find a job, selling your possessions is a great way to make money fast. You can earn money online using the links below or you can head to a pawn shop. Keep in mind the shipping costs associated with selling online. Be sure to charge the buyer for it if you’re shipping products internationally.
Most people immediately think of selling their junk like books, DVDs, and CDs. But most people don’t want to buy those things. It’s 2019 – are you really going to buy a CD? Probably not. So don’t waste your time trying to sell it. When you’re thinking about how to make money fast, focus on items of value like laptops, TVs, phones, furniture, designer handbags, or clothing. Try selling the same items on multiple platforms. For example, you might try selling your product on Facebook groups and Craigslist instead of just one of them. If you sell your stuff everywhere there’s a chance of someone finding it.
Be sure to take amazing photos and edit them. An online retailer doesn’t upload images as is. They hire a photographer to take great photos. Images are enhanced. The background is often removed. Approach your product post like an online retailer. Avoid taking pictures of products on tables. If a product is on a table, remove the background to make it white. After you’ve run out of stuff to sell online, start your own online store. You’ve proven that you’ve got what it takes to be an online retailer. So, now you can start making money from home.
15. Become an Online Coach:
If you are an expert in your industry, one of the ways to add to your income stream is to set up a coaching program online. Technological growth has made it impressively easy to create membership sites where you can offer your coaching programs and be paid.
There is a huge dose of contradictory information in every industry out on the web, and many people want experts to help point them to the right path. Whether you are a Fashion expert, fitness expert, pet expert, finance expert, relationship expert, etc., in today’s information age, you can do well establishing yourself as a go-to person in your industry.
One of the problems folks face today is being able to create professional membership sites without hurting their savings.
For most coaching programs, videos are a must. That’s why you need a video distribution platform that’s cost-effective, having all the features you need for both free and paid coaching programs.
One of them is Learndash which is a popular solution for launching your video-based membership site.
16. Become an Online Tutor
You can make a lot of money online, and choose your own hours, by being an online tutor. According to Studenomics, Bohdan made $2100 from tutoring. In the article, you’ll learn how he made built up his clients through word of mouth, visibility, and great group rates. While sciences and maths often have a high demand for tutoring positions, you’ll also find English to be popular among international audiences. If you’re an expert on a topic, tutoring may be the right platform for you to make money fast.
Having a degree or experience in a language is essential this type of job so showcase your degree, high-grade average in a course or other proof that you’re qualified to tutor that topic. If you have a teaching degree, you may be more likely to land a tutoring position. If you’ve spoken at a conference or event about the topic, you might also be considered for an online tutoring, teaching or mentoring position. Focus on tutoring in your field of expertise. If you’re not the best, you probably shouldn’t be tutoring in that specific topic.
You can find online tutoring jobs on platforms like these:
17. Drive Your Car
If you own a car, you can make some spare cash as an Uber driver or delivery person. If you don’t own a car, you can still be a delivery person using your bicycle or moped. Uber drivers looking to make even more money off their car can turn their car into an advertisement using Free Car Media. Your car will be wrapped with a removable vinyl decal. There have also been cases of Uber drivers selling products in their car. As a driver, you’ll often times start talking about what you and your passenger do for a living.
Want to know how to make money fast driving Uber? If you own your own side business, you can showcase your products to your passengers if they’re interested. Not all will be though. However, if one expresses interest in your products, you can have products for sale under the driver’s seat for a passenger to sift through. If customers don’t have the cash, you can ask them to pay for the cost of it with Uber’s tip function.
18. Become a Virtual Assistant
With so many entrepreneurs building businesses, virtual assistants are becoming an important part of running a business. As a virtual assistant, you’ll do a variety of tasks. Writing, order processing, bookkeeping, social media, and customer support are just a few of the tasks you might be asked to do as a virtual assistant.
You can earn money online on websites like Virtual Assistant Jobs, Indeed, or Upwork. Many virtual assistants have also found ways to make money online by reaching out to brands and entrepreneurs asking if they’re interested in hiring a virtual assistant. Using a combination of job posting applications and outreach, you’ll be more likely to make money fast. Build an active social media presence on Twitter and LinkedIn to help you find new clients.
19. Become a Twitch Streamer
Twitch streaming is becoming increasingly popular. While it started out as a gaming platform, it’s quickly evolving to include other types of content. To make money fast on Twitch, you’ll need to grow your following. If you’re unemployed, spending your entire day streaming on Twitch can help you build a sizeable audience fast. You’ll need to find a popular game or channel that isn’t overly competitive so that people can easily find your content. In order to make money online from streaming, you’ll need to have a consistent style to your channel: is it going to be funny, educational or entertaining? Engaging on the chat feature on Twitch is another way to grow your following. You’ll want to communicate in popular chats. However, you’ll also want to engage with those chatting on your streams as well.
There are five ways to monetize your Twitch channel: selling products, brand sponsorships, fan donations, subscriptions and Twitch ads. As a Twitch streamer, you’ll want to focus on tapping into all five monetization methods to ensure the highest financial gains. You could potentially make more on Twitch than YouTube, making it one of the best money making ideas for video creators.
20. Invest in Stocks
You can also make money fast by investing in stocks. If you aren’t an expert in picking stock you might want to skip this money making idea. While it can have one of the highest fast rewards, it can also result in money loss if you’re inexperienced. If you currently hold a 9 to 5 job, look into your company’s financial programs. Do they allow you to invest in company stocks? If so, sign up for it. At least with a company stock program you have some influence in the company’s success as an employee. If your company has an RRSP matching program, you can also sign up for that if your goal is to save up for retirement or a down payment on your first home.
21. Sell Your Photography
Whether you’re a professional photographer or just love snapping great pictures, you can monetize your photography a number of ways. You can make money fast by posting your photography services in local Facebook groups for your community.
If you’re looking for more photography clients, you can use a site like Scoopshot. However, if you’re looking to monetize your phone photography you can use Foap. Learn more product photography tips to help you start making money with photography.
22. Sell Your Clothes Online
Most people have more clothes in their closet than they ever wear. You likely have items you haven’t worn in the past year that you never have any intention of wearing ever again. Whether you sell your clothes, handbags, or shoes there are quite a few websites that allow you to sell your used fashion items. Poshmark, Refashioner, TheRealReal, ThredUp and Tradesy are a few of the online sites where you can sell your used apparel.
You could make money online by selling on several different platforms. If you’re looking to sell items in person, you can use Facebook buy and sell groups in your community to find people online and sell the items in person. I’ve personally sold in these groups before and know they work.
23. Become an Extreme Couponer
When money is tight, using coupons can help save you a few bucks. However, with Coupon Chief it can also help you make money online. They offer a Pays to Share program where you’ll receive 2% of sales from the coupons you share on their platform. You’ll need to add coupons that haven’t already been shared. In return, you’ll make a 2% commission. The company has already paid out over $1.4 million in commissions.
24. Sell Domains
If you regularly buy domain names but fail to use them, you can always try to sell them for a profit. Selling domains is ultra competitive though. If you own an one word .com domain you’ll have a better chance of selling. Words that have high search volume sell well too. Also, domains that are on trend at that moment have a better chance of selling. For example, a year ago fidget spinner domains were an easier sell than they are now. You can sell your domains on Go Daddy’s Domain Auction. Look through the domains with the highest bids to see what type of domains sell well. It’ll help you know whether or not the domains you have are worth selling and how much money you can make selling them.
25. Sell Your Designs Online
Graphic design is an amazing skill that works with several money making ideas. You can go the print on demand route and sell your designs on your own custom products. Or you can pitch your designs on a crowdsource platform like 99 Designs. You can create your own graphics, templates and more and sell them on marketplaces like Graphic River or Creative Market. Or you can pick up some clients and work as a freelance graphic artist.
26. Get a Part-Time Job
When you’ve done whatever it takes to make money fast but struggle to make an impact, sometimes you’re left with no choice but to get a part-time job. A lot of the money-making ideas on this list are great for building up to. They can be really successful over the long-term too. But if you’re struggling to make money fast enough, you might need to apply to a part-time job in your field. You can browse part-time jobs on job bank websites like Indeed, Monster or a job website for your industry.
Whether you’re looking to make an extra couple hundred a month or grow a successful six-figure brand, I hope these money making ideas have inspired you to take action. Learning how to make money fast or how to make money from home is an important part of success, but the execution is what helps you make money now.
Making money online can help you earn some extra side hustle money but it can also help you escape your 9 to 5 job so you can become a full-time entrepreneur. By making more money, you gain more financial freedom, improve your financial security, and inch closer to living life on your terms. It really is possible to earn a living online if you work hard and stick with it. So, which side hustle will you try out first?