A passive income is what many people dream of. It’s an income that you earn even when you’re not working; you don’t have to be actively involved in order to make money, and that is what is most appealing about it. Of course, to make a sustainable and substantial passive income you will have to put some hard work in first, but once that’s done, the money should continue to arrive in your bank account. What are some of the simplest ways to create a passive income?
Sell Your Images
If you enjoy photography and you’re good at it, then you might be able to make a nice additional passive income through selling your images online. You can upload your pictures to websites such as iStockphoto or Shutterstock, and although the site itself will take a fee (either a percentage or a set amount per image), you can still make some good money. The key is to take interesting photos that are different, but that could work well for a blog, or even in print. Look at what is selling and aim to create something similar, but in your own style.
Write An eBook
Writing and formatting an eBook is a lot of hard work upfront, but once it is created, as long as you market it well, it can bring in a lot of money for you each month. You can sell the eBook on your own website, or you can use reputable, popular sites such as Amazon or Smashwords. You could even come to an arrangement with someone who runs a website, offering them a percentage of your book sales if they host your selling platform for you. It pays to do some good research before picking the topic of your book. Self-help books are always popular and can be easier than fiction to market.
Set Up A Subscription Service
Setting up a subscription service means that you can get a good recurring income from subscription payments. This can be viewed as more of a business venture than a hobby, as it can take entrepreneurial skills to make a successful subscription business. Firstly, you will have to think of a niche and market; then you’ll want to curate the first few boxes and find where you’re going to source your monthly goodies. Every month, you’ll need to fill the boxes and send them out, however, if it’s something you enjoy it can be well worth the extra effort.
Make YouTube Videos
Making a passive income from YouTube videos is a market that is growing all the time. You can create videos about anything and everything; whatever you’re into from music to art, to fishing. Make tutorials, or post reviews. Make a comedy sketch, read a poem, or anything else that comes to mind. As long as it’s entertaining and not something that will offend people, you can do anything you like. Once the video is uploaded, attach Google AdSense to it, and your video will be overlaid with automatic ads. The more viewers who click on those ads, the more money you’ll make.