I’m going to share some ideas and resources that can help you get started making a passive or semi-passive income online. And unless you’ve got a rich uncle or are sitting on annuities that are paying you a large monthly distribution (in which case I doubt you’d be reading this), all of these suggestions require learning, testing to see what works and what doesn’t, and some amount of front-end work to create the stream of income.
You can sell your ebooks through Amazon's Kindle program or Apple's iTunes Connect, which gives you access to a large majority of the digital-book reading market and the barriers for entry are incredibly low. You don't need to invest lots of money to make this happen, but you do need to invest lots of time, not only in writing the ebooks, but in marketing them as well.
Just curious, how much time would you say it would take the average person who has a decent understanding of how to do much of what you covered to get through all of these steps? Just a rough estimate. And how long, again, on average, after doing all of this would it take before that person starts seeing $500/month in a medium competitive niche – one that you would consider being pretty ideal?
I have 3 VAs. I couldn’t function without them. It doesn’t matter how big or how small a business is, they all need help running their day-to-day administrative tasks. Virtual assistants perform a variety of tasks that a traditional assistant or secretary would normally do, including making travel arrangements, paying bills, or managing expense reimbursements. I use them to upload content, optimise images, brief writers etc.
It won’t be easy. I have made around 10 niche sites and have failed in 8 of them. The success ratio is again 80 – 20. You will never know which niche sites will bring you revenue until you give it a try. My experience tells me that small niche sites which have affiliate products and paid services around them convert the best. Google Adsense also works good for small niche sites but since Adsense depends heavily on traffic and pageviews, you will have to keep updating the site to get fresh traffic. Affiliate sales depends on reputation, authority and other things so if you can build a niche site and sell Affiliate products, it should work out well compared to a niche site which earns money only through Google Adsense and other contextual ads.
The audiobook industry is booming, yet only 5% of books ever get made into audio format. If you’ve got a background in acting, or if people have said you’ve got a voice made for the radio, you can make extra money recording audio versions of independent and popular books. Sites like ACX connect authors with audiobook performers. So, whether you’re an author looking for more ways to sell your book, or an actor/voice actor looking to make some extra income, you can sell your services online.
Both highly ranked by BBB. Both highly ranked by BBB. They list charts on their websites for what you pay and very clear thorough instructions of how to go about sending in your gold. Important thing: they pay for and insure your shipping. You send them the gold. They value it. Let you know. And you have the option to sell it to them, OR to have your gold returned. Usually gets shipped in the same day.
25. Products – You can create your own product, such as an ebook or computer software. You would then use your blog as a promotion tool to get people to buy your product. As long as you create a legitimate product with a whole lot of value, you should be able to get some buyers, but like everything else with a blog, you’ll need the traffic to get the sells.
Thank you Spencer. I have been floundering around trying to make money online for about 3 years. Minimum amounts earned as an Amazon and Clickbank affiliate. Maybe enough for a case of beer at the end of the year after my hosting expenses. I was excited when I learned how to build a WordPress site considering I only knew how to get email when I started, but I have become disillusioned ever since. Thanks again.
There are quite a few companies and industries as a whole that don’t care if you have worked from home before. With some, you may find they aren’t consistent work (like website testing) or maybe not the best-paying (like captioning at Rev.com), but they will provide you with something to put on your résumé when applying to your dream work-at-home gig.
Really like the different views and how readers think of them (via the poll results). I think the best thing one can do once you sense the potential of your site, is to stick it out and stay tough during the hard times. I mean I was looking at the sporadic posting (in the initial months) on some of the popular blogs we read now. Few months later, you find the owner stuck with the site and with renewed energy, built more useful content and connections – which lead to more good things.
Again, not every post/low competition keyword you find will hit the bulls eye, but don’t dwell on this. Simply keep searching for more keywords & writing up excellent content. Overtime, you may even see old posts rise up in the ranks which you though would never appear on the first page. I speak from experience as this does happen more often than you think 🙂
23. Affiliates – There are many affiliate networks, such as FlexOffers and CJ Affiliate that allow you to promote other people’s products and services. You simply put a link or a banner on your page and then you get a percentage if someone clicks through and buys the product/service. You’ll want to select products that are specifically within your blog’s category.This is an effective way to earn money once you have the traffic coming to your blog.
The great thing about blogging is that you can do it from anywhere in the world. My only suggestion would be to go after your dreams. Everyone laughed at me for going for blogging. 12 months later, I was making $10k/month. I’m not saying that’s normal for most bloggers, but I AM saying that you’ll never know unless you go for it. It could fail or it could be the best decision you ever make and the start up costs are so cheap, it’s worth it to at least try and see. If you are committed to it, and have a no-fail mentality, it can work. No one will live your dreams for you. Better to try and fail, then miss out on such a wonderful opportunity! Even if you only did make a couple thousand a month in 12 months, it’d still be worth it. <3
Fiverr: Israeli-based Fivver was started in 2010 by Shal Wininger and Micha Kaufam. It's a great resource for selling just about any service online. You can offer gigs as low as $5 but also get paid much more for upgrades and add-ons. There are plenty of providers earning 6 figures on Fiverr so it's definitely a worthwhile cause for generating a healthy income. Just ensure that you provide some serious value.
Worth noting, Pat does not rest on his laurels. He’s constantly experimenting and exploring new ways to make money, and he is always humble and continually learning, recognizing that no stream of income is risk free. What if that site shuts down and your income disappears? Smart Passive Income is a fantastic place to start or continue your research. Pat is very responsive online; I’ve gotten multiple personal emails from him in response to my questions. He won’t lead you astray.
Decluttr lets you sell everything from books to CDS to DVDs to electronics and even LEGO! It's my best recommendation for decluttering (hence the name!) by selling stuff you no longer want or need. With books, you just enter in the barcode or ISBN and they'll give you a value. It takes minutes to find out how much your stuff is worth and you don't have to register or anything to price things.
This is so inspiring (as I am reading 8 of your posts right now)… is this really possible? As a young wife, recent college graduate, living overseas with my husband in the military, many of my plans/goals are upside down… I have zero job prospects here and already wanted to start a blog, this makes it that much more of a dream to start. Any suggestions?
Choose your niche and check for demand: The golden course combination is when you can find an in-demand niche that aligns with your skills and unique experiences. A great way to do this is to use Google Trends and Google’s Keyword Planner to look for average monthly search volume for keywords related to your proposed course content. Are people actively looking for high-quality information about this subject? Of course, if you’re already creating content for a blog, coaching service, or a site like Medium, you can test demand this way for free just like Bryan did.
Have lots opinions on what works and what doesn't on the web? Then you might just be right for a "career" in remote usability testing. Actually, no one really makes a career at it, but user testers can pick up some extra work reviewing websites or mobile applications that may still be in development. You don't even necessarily have to be very knowledgeable about the Internet because some developers want the beginner's point of view.
In this case, the business opportunity lies in having the first movers advantage and creating a niche website which focuses extensively on Korean watches. If your website has good enough material on Korean watches and slowly emerges as the best possible resource people refer for buying and learning more about that particular segment, gradually it will turn into a viable business.
Advertising. You won’t have any quests until you get the word around about your room. Start locally by putting a sign in your front yard and spreading the word through friends and family. Next, build a small website and make sure that you attract the search engine spiders by using the keywords people would likely search for when looking for a place to stay in your area. In addition, there are sites that specialize in promoting specific areas and their attractions, such as BedandBreakfast.com and Airbnb – your Bed and Breakfast should be listed there.
Whether you have a website or are still dreaming up ideas for a blog, you can also look into affiliate marketing. With affiliate marketing, you partner with brands and businesses within the content of your website. If you mention a product or service, you link to that produce or service using a unique affiliate code you received when you signed up for that particular affiliate program. From there, you’ll make money any time someone buys a product or service through your link.
This is another task-based site that makes it possible to earn fast cash online. They have a variety of work to choose from in several different categories. They pay with bank transfer and it can take about two days for money from there to hit your account, but you only need $1 to request a payout. The way to get money in your hands daily from here is to request a payout every day.
Create a killer course experience: With your course validated and in the works, you need to figure out how people will take it. Most course creators choose to host their courses from their own websites. This way, they get all the value of bringing customers back to their site on a regular basis. I host my own courses from a subdomain on my own site so I can easily add more. The course experience is incredibly important as well. And after trying most of the solutions, I highly recommend Teachable—an online platform designed specifically for courses.
Sites like Share-A-Sale and Amplifinity provide referral fees. Vendors set the referral fees they're willing to pay and for what services. When the transaction happens, you get paid by the company for introducing a new customer to them. uRefer also allows merchants to set up referral programs for introductions and meetings, in addition to any transactions made.
Thank you for the clear, concise road-map for building a successful monetized site without relying on spam. Since my retirement from teaching in 2012, I have been freelancing as a writer/photographer and have had some success, but my ambition is to have my own website up and running so that I can write for myself and still earn money. I have not dedicated enough time to writing quality content or marketing my website, but this article has inspired me to dig in and get it moving in the right direction. Again, thanks for an article that was worth reading and may you continue to have great success with your endeavors.