Passive Income: 10 Proven Ways To Make Passive Income Online (In 2018)
1. Digital Products: The best way in my opinion to make passive income is through creating digital products. A digital product can be anything like a video series, e-book or PDF. We can sell digital products on our own website and we can also sell it via third party platforms like ClickBank. The main advantage of digital products is that, they will never run out of inventory. But the only disadvantage, that it comes with is, we require good amount of followers who are willing to buy our product.
2. Freelancing: This is another way of making money by completing tasks of our customers. Whether you are a graphic designer or a video editor, every skill can be turned into real money through freelancing. You can find the projects or gigs to complete on websites like freelancer and Fiverr. And if websites like these allows you to take projects and finish them on other websites, then you can completely automate this process by taking projects on one website and finishing it via other websites. For example, take the responsibility of finishing a task on one website and then go to a second website as a customer and upload your task and make money by specifying reasonable margins.
3. Books: This is a business, which I have been working on from a long time and with my experience, I can say that this is definitely a powerful business. If you are passionate about writing, then you can easily convert your draft into an actual book via platforms like Kindle and CreateSpace. You can have both the e-book as well as paperback edition of your book through these platforms with zero upfront fees.
4. Blogging: Blogging is a classic way of making passive income. It has been around since a long time but the competition in this business has grown tremendously. You can make money through your blog or website by monetizing it via platforms like Google AdSense or you can also make money by linking your affiliate links. There are endless ways to make money via blogging but if you don’t have passion in a specific niche or you are unaware of SEO (Search Engine Optimization) strategies, then it will become very hard to make money through a blog/website.
5. Affiliate Marketing: This is the easiest way to make passive income because it doesn’t require you to create any product. You can promote somebody else’s product and can make good commissions. Most of the time, the websites that offer affiliate commissions has information about the whole process in their footer section. Where you can click the affiliate tab and then you have to sign up and then you can start promoting products via your specific web-links. But once again, this easy business requires either good amount of followers or you should learn how to create cheap ads on Facebook and Google that can convert visitors into customers.
6. Consulting: These days, the easiest way to make money on the internet is by becoming a consultant. Even if you have less amount of followers, still you can pull this business by setting up conference calls or 1 on 1 calls via Skype or Google Hangouts. In this way you can charge your customers on hourly or weekly basis. The minimum requirements for this business are a laptop with webcam, sound knowledge of your niche and trust between you and the customer.
7. Stock Photography: If you have a DSLR camera or a good smartphone then you can make few extra bucks by selling your perfect snaps on stock photography websites, where they can distribute your photos/videos exclusively or non-exclusively to their clients. You can get paid once upfront or you can get paid every time a customer buys your photos/videos from their website.
If you think this business is a hassle, then you can also sell your photos/videos as a bundle of 50 or 100 on your own website.
8. T-shirts: If you are a good designer or if you have a friend who can design cool things for you, then you can start the t-shirt business on platforms like SpreadShirt or Merch By Amazon.
9. Licensing: If you have a digital product, then you can boost the sales of that product by licensing it to someone else. Or you can also take someone else’s product and ask them to license it for you.
10. YouTube: This is also a potential way to make passive income but if you are looking for quick results, then this might not be the right business for you.