First of all, you have to understand what passive income really means.
It means doing the work once, and then get paid for your efforts for years to come.
So
even if you stopped the work for one whole year, the passive income
generated from your “work” will still roll into your bank account like
clock work.
Take Warren Buffett for example.
All he did was invest in a whole host of companies that pay quarterly dividends.
And
these companies are still paying him sweet passive income without him
doing any anything… except attending their annual general meetings.
Now, I am not saying that you have to become the next legendary investor of the world like him.
His extraordinary success is something that not many people in this world can replicate.
So
I am going to give you a few ideas on how you can generate some lovely
passive income that will pay you for years to come with minimal work.
You ready?
Let’s roll.
A. Create a Facebook group
Not just any Facebook group, but one that allows members to post ads.
By
creating a group like this, you don’t have to worry about creating
engaging content. Your group members are going to do all the work for
you by posting their ads in the group.
People
are going to respond to these posts, driving up engagement in the
process. Facebook will see this, and will start to send you free traffic
by way of recommendation.
That’s killing two birds with one stone.
So
how do you make money from your group? By simply putting up a pinned
post about your affiliate offer, or sell advertising space in your
group.
I have seen some similar groups charging as much as $95 per day for advertisements.
Imagine
making $95 per day from your group passively without doing much work,
accept to process orders for your group advertisements.
The next question: what niche can you do?
Just
stick to the biggest ones like fitness & weight loss, make money
online and dating & relationships. These niches are where the big
money is.
B. YouTube
How can you ignore the 2nd most trafficked website in the world?
There are so many successful YouTubers who are making 5-figures per month from YouTube’s partnership program.
So here’s the burning question: how can you do the same?
Just to give you an idea. I have seen some channels simply uploading compilation videos from the now-defunct Vines.
And these videos are getting millions of views, earning the channel owners insane amounts of passive income in the process.
Why is that so? Because people like to laugh. Put up something hilarious, and watch that video take off like a rocket.
When it comes to YouTube, you are only limited to your own imagination.
The sky’s truly the limit.
YouTube
really represents what passive income stands for: you upload a video
once. And if that video takes off into the orbit, it is going to earn
you a sweet passive income for years to come.
C. Publish your own books
Do you have any hobbies or interests that you are very passionate about?
Then
you can impart your passion into a series of books, and create your
very own publishing empire that is going to pay you endless royalties
for years to come.
Now, I am not talking about those thick novels with thousands of pages that just seem to go on and on.
I am talking about writing short books that are just 10 to 30 pages long.
Can you write a 20-page short book? Then you are good to go.
Kindle has a popular section on short reads, and this section has blown up.
Why? Because people want things quick and fast nowadays. They don’t have time to read a thousand-page novel.
They
want to read something that can be finished in 30 minutes. They are
craving for instant gratification. So you just give them what they want.
And what are they looking for?
Romance (Huge niche!), children’s books, puzzles, journals.
Books like journals don’t even require too much writing from you!
But they are selling like hot cakes.
So
jump in. Get started on your publishing empire that can pay you
unstoppable royalties even when you are stranded on some tropical
island.
D. Create your own online courses
Are you good at something, and that you can teach it to other people?
Can you show people how to quit smoking?
Are you a woodworking genius?
Are you a Microsoft wizard?
Can you teach people how to lose weight?
Then go create some online courses, and let your courses generate never-ending passive money for you every single month.
There
are major platforms Udemy and Skill Share that allows you to upload
your courses, and then they will automate everything for you including
the delivery and payments.
I have already seen many instructors earning a solid $4 to $5K per month in passive income just creating online courses.
So if you have a special skill or talent that you want to teach to the world, then just do it… and get paid handsomely for it.
E. Promote an affiliate program that pays recurring commissions
This idea is probably the easiest to implement.
You don’t have to worry about creating any products or write any books.
You just have to focus on one thing: promoting the program as an affiliate.
There
are some online marketing tools like Get Response and Aweber that have
been around for many years, and have been dutifully paying their
affiliates in the process.
Those are the
kind of programs that you should be looking out for, as they are going
to pay you unlimited recurring commissions every single month like clock
work.
I have come up with my very own 3-step blueprint when it comes to selecting the best affiliate program to promote:
- It must pay out recurring commissions
- It must be able to pay you for years to come
- It must come with comprehensive training to teach you how to promote the program effectively
The
good news is that I am currently in an awesome affiliate program that
ticks all the boxes above, and am getting great results from it.
All
of the ideas I have shown you above doesn’t require too much time and
work on your part. If you can set aside just 2 hours a day, you are good
to go.
Think about this: you are simply
investing 2 hours of your time every single day in exchange for a
revenue-generating machine that can pay you unstoppable passive income
every single month like clock work.