5 Ways to Start Making Passive Income Online

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Passive income is getting more attention these days and I can totally see why. The idea of putting in a massive amount of work into a project and then leave it to collect dollars while you sleep sounds pretty good to me. I’ve been experimenting with it during 2015 and I want to share with you what I’ve learned so far and what I will be focusing more on in 2016.

Before we dive in to my 5 ways to start making passive income online and before you start trying them out, I want you to take a minute to think about why you want this. I assume since you’re reading this, passive income is something that you are already doing or interested in getting started with. Now, write down the reason why you want to do this. If you can’t seem to come up with a reason and just want to try it for fun, that’s totally cool. Although chances are that when it gets tough, without a strong and fundamental “why” as a reminder, you might not pull through.

I want to help you as best as I can to start making passive income online this year by sharing my own experiences and research and hopefully give you some ideas.

Ok, now that you got your why down, let’s go ahead and start with the number one way you can start making passive income online.

 

1 – Teaching online

It seems like new online platforms for teaching are popping up almost every week these days. With sites such as Udemy, Skillshare & Gumroad, it’s now easier than ever to create and sell online courses about something you are passionate about. The really cool thing with platforms like these is that you don’t have to have your own website and they do some of the marketing for you. Perfect for starting out!

 

2 – Write eBooks

An eBook doesn’t have to be a 300 page novel. It can be an info product that you write and publish on Amazon and charge 99 cents for. Research topics that are hot right now, student loan debt for example is a huge topic, research solutions to this problem and compile it into a 50 page eBook.

 

3 – Create digital products

This is a bit more advanced than the previous two ways to start passive income online. Put it also can have the biggest return on investment. Platforms such as Clickbank and JVZoo makes it easy to sell digital products online. How do you come up with products? You could resell the products already created for Udemy for example. Just make it a bit different by adding bonuses related to the products that you know your customers will appreciate.

 

4 – Affiliate marketing

If you already have a community, email list or audience, you might want to look into affiliate marketing. Find products others have already created that will help your audience solve their problems, ask to be an affiliate for those products and earn a commission for each sale. Usually this commission is around 50%.

 

5 – YouTube

Building up an audience on YouTube and becoming a partner takes time but it’s definitely a great way to let people know who you are and build trust. I use YouTube to create free tutorials for my subscribers and then link each video to my online courses in case they like what they see and want to learn more. Either way it’s a win – win. Your subscribers will see who you are and you are helping them out and building your audience at the same time. If you manage to get your audience big enough, you’ll receive a nice little check from Google every month.

 

These are my 5 top ways to start making passive income online in 2016. What I will be focusing more on this year is creating digital products and affiliate marketing. I’m very excited to start working with developers and create useful video software, that’s one of my big goals this year.

What are yours? Comment below, I’d love to hear what you’re up to!

 

 

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