Do you want to start making passive income, but don’t know what you should do?
If so, you have come to the right place, as I’ll recommend ideas that can literally replace your job income. Not to mention, I will also be sharing some resources to help get you started, if you wish to pursue any one of them.
But for now, just read on, as I’m about to explain a few things you need to consider before you’re ready to really give this a go.
I understand that there are so many passive income ideas out there right now, but it’s not always easy to decide what’s right for you – I can confidently say this because I was also in that position.
To be honest, I was still trying to get my head around the concept of passive income, let alone choosing an idea to start with.
Just in case you don’t know, passive income is a way of earning money without actively trading your time for it – that means you could literally be sleeping and still earn money! How incredible is that?!
This appealed to me because I just didn’t want to do a 9 to 5 job anymore, having to trade my time for money and working under someone when I really didn’t have the enthusiasm for the job – it really got harder and harder to work each day.
I had so much dread, as I wanted the freedom and flexibility to spend more quality time with friends and family, have the opportunity to travel without waiting for 2 weeks in a year to do it, and I didn’t want to rely on one source of income anymore.
If you have ever been made redundant or have been given furlough, then you can understand how risky it is to rely on one source of income.
Perhaps you’re also in this situation or maybe you’re someone who’s just looking for a side hustle to supplement your existing income i.e., a part-time income source.
Whatever your reasons may be, it doesn’t stop many people from thinking that it sounds too good to be true and, to be very truthful to you, it’s because many people tend to have this misconception that earning passive income doesn’t require any time and effort on your part.
That couldn’t be further from the truth, in fact, it may take a lot of time and effort at the beginning to create an automated system to generate this endless stream of income – the bottom line is that it’s not going to be easy.
It doesn’t even matter what way of making passive income you choose to do, but you have to be committed to do what it takes and be consistent at the very beginning of the process.
Please understand that I’m not trying to put you off here. I just want to be real with you because I want you to do what it takes – especially if it means it gives you the opportunity to live your best life.
Nonetheless, without a shadow of a doubt, when you do make this work you’ll find that the rewards are worth all the effort.
It may mean that you have all the time to spend with friends and family…… travel the world at a moment’s notice……. to finally quit the job you hated, and the list goes on.
This will mean different things to a lot of different people, but what it definitely guarantees for you is TIME, FINANCIAL & GEOGRAPHICAL FREEDOM.
That my friend is the beauty of passive income!
I don’t know about you, but I like the sound of that 😊
What are the best ways to make passive income?
If you’re still here, then it seems as if you’re very serious about making passive income and now it just boils down to what you should do.
Well, if you’re like me, you would need to focus on ways that you can work on around your job. Even if you have been given furlough, this will still be beneficial to you in fact, the more time you have the better it is for you anyway.
All you need is a laptop and an internet connection. If you have those 2 things you’ll be in a very good position to start; therefore, you may have already guessed that the income streams will be created online.
It’s fair to say that there has never been a better time to generate income online than in today’s digital world.
Just look at Amazon for example or the fact that so many retail shops are closing their stores and transitioning to selling products online.
Not to mention Netflix, as they have driven video rental companies out of business.
Even schools are tending towards e-learning.
You basically get the idea and so, the possibilities online are endless, as that’s where many businesses are thriving at the moment.
So, it’s hopefully clear to you that the best way to go is by starting an online business, but please don’t worry if you think the word ‘business’ is scary, as this is not the same as a ‘traditional’ business.
That means you’ll not have to leave your full-time job or take out a huge loan to start this. In actual fact, it doesn’t have any of the terrifying risks of a traditional business, as you’ll learn very soon.
I recommend that you start with anything that is product-driven and very easy to fulfil on – something that you have faith in and feel good about selling and don’t worry if nothing comes to mind right now.
Ideally, you would want something that you can sell day-by-day and week-by-week without spending a lot of your own time on customer service & support or transactions. To be honest, you’ll only need 1-2 hours a day around your job anyway. At the end of the day, the last thing you would want to do after a hard day’s work is to deliver whatever you’re selling.
So that begs the question, what should you do?
Passive Income Idea No. 1 – Affiliate Marketing
Like I mentioned before, it’s best to start with something that you can work on around your job and, Affiliate Marketing is one of those ways.
It’s basically where you sell other businesses’ products or services that you feel good about promoting and get a nice healthy commission in doing so.
This is ideal for many people who have a full-time job, as there’s no need to deal with the fulfilment or delivery of the product – all you have to do is recommend the product or service to a potential customer, bring them to the business, and earn money when they make a purchase.
The beauty of this is that the number of products you could sell is unlimited, as you can sell them again and again, 24/7 and 365 days a year through an automated system.
Passive Income Idea No. 2 – E-commerce Business
Another great way is to sell physical products online through an E-commerce business. The amazing thing is that you don’t have to create a unique product. All you need to do is purchase existing products for a fraction of the cost and set up an automated system to sell them.
Amazon FBA is one great opportunity to help you set this up and best of all, they deal with processing payments, delivering the product and customer service.
All you need to focus on is selling the products by advertising and marketing them in order to make the sales happen – again, this is something you can do around your job.
Before you get into this…………
It’s important to understand that making the first 10 sales will be the hardest, but once you do, you’ll gain the confidence to continue this momentum and grow your business.
What’s more is that you’ll learn the exact number of sales you need to make each day, each week and each month to eventually replace your job income – how exciting is that?!
But, before you begin, my advice to you is NOT to fixate on how long this will take – for some it may take a few days and for others, it may take 12 months to make their first 10 sales online.
However, I can tell you this…….
If you learn how to choose the right product to sell at this current time and are committed to learning the digital skills required, then you’ll succeed a lot sooner.
Now, if you’re serious about pursuing any of these genuine ways of making passive income, then check out these FREE On Demand Workshop Series.
These videos have helped THOUSANDS of people on how they can start making passive income through an Online Business (starting from scratch!) around their jobs, and I’m confident that it will do the same for you.
It’s completely free to register and access this training. Not to mention you’ll get to attend a FREE Webinar on “how to turn this current crisis into an opportunity to generate income online” as an added BONUS!
Please note that this is away from all the usual hype that you may have seen online before, and I can assure you that you won’t be disappointed.