Are you interested to know which are the best passive income ideas to make money online? Here we have collected some of the best passive income ideas that will help you to make money online while sleeping.
Who doesn’t want passive income? Passive income can help us to live our lives without worrying about money. However, it is not an easy job to do. You need to do hard work in order to make passive income.
If you think you will make passive income in a month, you don’t fit to be here. Because you need to put your hard work and time into passive income activities. Otherwise, you can’t make a passive income.
We can earn money anytime but we can’t get back our valuable time. That is why you need to understand the value of time in order to make passive income. For this reason, you need to choose how you are going to use your time to make passive income.
What is passive income?
Before telling you about the passive income ideas, you need to understand what actually passive income means. Passive income is one type of income that requires little effort to earn money. That means by doing a passive income activity, you can earn while sleeping.
For example, you have to choose a passive income idea. When you establish that idea to make money, you can earn money automatically without doing any further work.
However, there are lots of people that think you don’t need to do any work in order to make a passive income which is wrong thinking. You have to work hard to establish your passive income. After that, you can expect to earn money automatically.
So, let’s see which are the best passive income ideas.
The Best Passive Income Ideas
1. Start A Blog
When we are talking about passive income ideas, we need to list this method first. Starting a blog is the best idea to generate passive income. It can help you to generate lots of money if you can establish a successful blog.
However, you can’t expect to get success overnight by doing blogging. Because you have to work hard and invest time in this. There are lots of successful bloggers available that didn’t get success overnight. They have invested their time and hard work.
If you want to be a successful blogger, you need to have patience. Furthermore, you need to understand a few things like search engine optimization (SEO), social media marketing, and the ability to write great content.
Once you establish a successful blog, there will be lots of ways to make money from your blog. There are lots of ways to make money from a blog such as:
- Google Adsense
- Affiliate Marketing
- Sponsored Blog Posts
- Selling Blog Space
- Write Reviews
- Selling Online Courses and so on
Related Article: How To Make Money From Blog: Complete Guide For Beginners
Starting a blog is very easy. There are numerous articles written on this topic. You can take the help of one and start your blog. Here are the steps of starting a blog from scratch:
- Choose your blogging niche
- Choose the best blogging platform (WordPress is beginner-friendly)
- Domain name & hosting (Domain: Namecheap & Hosting: HostGator)
- Design your website
- Install useful plugins
- Make money from the blog
Related Article: How To Start A Blog: 8 Easy Steps To Start Blogging
2. Affiliate Marketing
Affiliate marketing is another best way to make passive income. However, it is not an easy job to do. You need to have a large number of followers or audience to promote your affiliate products. Simply, you need a big platform and audience to succeed in affiliate marketing.
If you want to become a successful affiliate marketer, you should take an online course from an expert. There you will learn so many things which will help you to succeed in affiliate marketing.
Related Article: 10 Best Affiliate Marketing Courses For Beginners
When you don’t have a big platform and audience, you have to run ads that are costly. If you have money to run ads, you will get success easily. So, use this method to make passive income.
There are numerous ways to promote affiliate products and services. It totally depends on you which way you are going to choose. Here are the popular ways to promote affiliate products and services:
- Email Marketing
- Social Media
However, the most important thing for an affiliate marketer is that choosing the best affiliate programs. There are numerous affiliate products and services available that you can promote and make passive income. You need to choose the best affiliate programs so that your audience finds them useful.
- 10 Best Recurring Affiliate Programs (Make Money Every Month)
- Top 10 Highest Paying Affiliate Programs – Earn Up To $1,000 In One Sale
- 10 Best Affiliate Programs For YouTuber
- 20 Best Affiliate Programs For Photographers
- 18 Best Affiliate Programs For Bloggers
3. Web Developer
Web development is one of the best professions that you can choose in order to make passive income. There are thousands of web developers available that making passive income by developing web-related products such as themes and plugins.
I know it is not an easy task to be a web developer. However, if you really want to jump into this profession, you can easily learn web development. Nowadays, there are lots of web development online courses (Udemy) & eBooks (Amazon Kindle) available that will help you to become a web developer. If you think it is costly, you can watch Youtube tutorials regarding web development.
Web Development Course: The Web Developer Bootcamp
4. App Developer
Smartphone users growing day by day. According to Statista, there are over 3.5 billion smartphone users all over the world. That is why app development becomes one of the best passive income ways.
Developing an app is not an easy job to do. You need app development skills or a little bit of money to hire an app developer in order to create your dream app. However, there are lots of opportunities available these days to become an app developer. You can take an online course to become an app developer.
App Development Courses:
If you can come across a great app like Uber, you can make a lifetime passive income. If not, you can create niche-related apps that will help you to make some money easily.
There are lots of ways to make as an app developer such as:
- In-App purchases
- Paid Apps
- eCommerce Apps
- Selling Apps
Related Article: How To Make Money As An App Developer: 7 Best Methods
Podcasting is one of the best passive income ideas that will help you to make passive income. Nowadays, podcasting becoming popular day by day. If you are a talkative person or like to talk with people, you should jump into this business.
Becoming a podcaster is not a tough job. However, you can take an online course in order to understand what really it is and how to become a successful podcaster. Also, you can learn what do you need in order to start a podcasting business.
Podcasting Course: The Podcast Masterclass: The Complete Guide to Podcasting
There are lots of ways to make money from podcasting such as:
- Digital Products
- Affiliate Marketing
- Premium Content and so on
Related Article: 9 Best Ways To Make Money From Podcasting
6. Become A Youtuber
Youtube is the world’s largest entertainment platform. Youtube has got over 2 billion users all around the world. Not only that, Youtube help lot of people to become a celebrity. There are lots of YouTubers that are making thousands of money every month.
Starting a Youtube channel is very easy. However, establishing a Youtube channel is very hard. You have to produce good content in order to rank your videos on Youtube. The best thing about Youtube is that you can upload any type of video on Youtube except sexual.
Related Article: 15 Popular & Profitable YouTube Channel Ideas
Furthermore, there are a few legit ways to make money from Youtube such as:
- Google Adsense
- Affiliate Marketing
- Channel Membership
Monetizing your channel with Google Adsense is the popular method. However, you need to have at least 1,000 subscribers and 4,000 Watch hours in order to apply for monetization.
Related Article: How To Make Money From YouTube – 6 Ways To Make Legitimate Money
7. Create Audio Tracks
Are you a musician or love to create audio tracks? Then here is the best way to make passive income by creating audio tracks. There are a few popular websites available that will help you to license your audio tracks such as Audio Socket, Sound Cloud, and FyrFly. However, it is not the way for those that don’t have any knowledge about music.
If you really make your mind to jump into this business, you need to research which audio tracks doing good business on the market and follow your competitors to know what they are doing. That way you can easily establish a passive income business.
8. Sell Photography Online
Photography is another best profession that you can try in order to make passive income. However, it is not for everyone. You might have done photography as your hobby but you can turn this hobby into a profession. It can help you to make money while sleeping. There are lots of websites available that will allow you to license your photos such as iStockPhoto, Adobe Stock, 500px Prime, and Shutterstock.
Moreover, you can open up your own online store to sell photography. In that case, you have to spend some money on a domain name & web hosting. Also, there are a few websites available that will allow you to open up an online store such as Etsy. You can start a photography business on any topic such as:
- Business Photography
- Landscape Photography
- Wild Life Photography and so on
Related Article: 15 Best Places To Sell Online Photos & Make Money Online
Furthermore, if you don’t know anything about photography or want to learn, you should take an online course which will teach you about photography.
Photography Course: Photography Masterclass: A Complete Guide to Photography
9. Sell Handmade Products
I think, there are lots of people that love to create handmade products. If you are among them, you should sell your handmade products in order to generate passive income.
Nowadays, there are lots of websites available that will help you to sell your handmade products without any hassle such as:
While selling your handmade products using these two websites, your products will get a vast amount of exposure. In that case, your products can be sold quickly. So, if you love to create some handmade goods, try these two websites to generate passive income.
10. Create an Online Course
Do you have a skill that can be sold as an online course? If the answer is yes, you should create an online course and generate passive income. There is a website named Udemy that will help you to sell your online course to millions of students.
If you thinking about what should you teach people, I would like to say “anything” such as:
- How to play guitar
- How to cook
- How to do search engine optimization
- How to become a web or app developer
If you don’t know how to create an online course, you should take an online course on this where you will learn A-Z about how to create an online course.
11. Write an eBook
Writing an eBook is another best way to generate passive income. There are lots of eBook writers that are making lots of money by selling eBooks. You can write eBooks on any topic such as:
- Search Engine Optimization
- Online Marketing
- Social Media Manager
- Business Related eBooks and so on
It totally depends on you which topic you are going to choose. However, non-fiction eBooks that educate people are going to sell far better than fiction eBooks. Fiction eBooks can generate lots of money but it is very competitive. That is why you need to choose the non-fiction category topic to generate passive income by selling eBooks.
When it comes to selling an eBook, there is one website that comes to mind is Amazon Kindle. It is a sister site of Amazon where eBook writers sell eBooks to millions of readers. Selling anything through Amazon Kindle is very easy. Because Amazon has got millions of buyers so that your eBook will get a vast amount of exposure.
12. Rent Your Room on Airbnb
Renting your spare room on Airbnb is another best way to generate passive income. If you have a room where nobody lives or is used, you should rent it to somebody who will give you some money in return.
The best thing about renting your spare room on Airbnb is that you can rent your room for a day, week, or monthly basis. That means you can choose how long you need a tenant. So, use this wonderful method to make passive income while sleeping. You can use VRBO as an alternative to Airbnb.
13. Rent Your Car on Turo
Another best way to generate passive income while sleeping is by renting your car on Turo. How often do you use your car? If you use your car for a limited time, you should give it to rent and make passive income. When you renting your car on Turo, you can earn an average of $706 per month without doing anything.
If you thinking about the safety of your car, you are covered with up to $750,000 in liability insurance coverage from Liberty Mutual secured through the Turo insurance agency. So, you don’t need to think about your car safety.
If you thinking about there is nothing called “passive income,” you are mistaken. Yes, if you do nothing and sit back, you can’t generate passive income. You need to utilize your talent in order to generate passive income.
So, don’t think that you can’t generate passive income while sleeping. Yes, you need skills in order to generate passive income.
I hope this article helps you to know about the best passive income ideas. If you like it, share it with your friends.