There are many ways to earn passive income online. You can get started with the following 5 streams for free. If you put in the time and effort, you will be able build up a substantial monthly income using these passive income sources.
Earn commissions by promoting items from sites like Amazon, CJ, ClickBank as an affiliate. Every sale generate via your affiliate link will earn you a commission. These commissions can start to build up over time. You can create blogs and YouTube channels to build up your affiliate marketing business and revenue. There will be a large amount of initial work involved in the writing of blog posts and creation of YouTube videos.
Once you have a steady flow of traffic coming into your blog and YouTube channel, you will start to generate commissions. Your blog traffic and YouTube visitors will increase over time as you put in more effort.
Within 6 to 12 months, you should start to see your commissions increase. After 12 to 24 months of hard effort, the income generated from your blog and YouTube channel will become more passive. You will need to add blog posts and videos less frequently. You should also be able to outsource the blog post writing and video creation. This will free up more of your time and still continue to grow your monthly passive income.
Publish ebooks on Amazon’s Kindle Platform (KDP). Every time your ebooks are sold, you will earn a commission (royalty). It’s completely free to join Amazon’s Kindle platform as a publisher. Once your ebooks are accepted and live on Amazon, you will be in a position to earn passive income.
You will need to carry out some research to establish which niche you want to publish your ebooks in. Once you have a number of good quality ebooks live on Amazon, you will start to earn commissions as the sales are generated.
The more ebooks you have online, the greater your chances will be of earning commissions. Even if you are not able to write the ebooks yourself, you will be able to hire freelancers and ghost authors. You will be able to connect with freelancers on sites like fiverr.com and upwork.com.
You can create and upload video based courses on sites like udemy.com , thinkific.com and teachable.com. Creating courses takes time, but can be very lucrative. If you have a number of good courses online is popular niches, you should be able to earn a full-time income from it.
Once the hard work of creating the courses is done, the income from this stream will become truly passive. If you have good knowledge on a popular niche area, but are not very good at creating the course, you can get freelancers to help you with this.
Google’s Adsense program can earn you a substantial monthly passive income. You will need to create a blog within a niche that has a large number of people who are willing to pay highly to advertise in. The traffic to your blog will also need to be high.
You can also earn Adsense revenue from YouTube videos. The revenue earned will be determined by your choice of niche and also the views your videos are receiving.
Most of the Adsense revenue from blogs will be generated from people clicking on adverts displayed on the blog. Most of the Adsense revenue from your YouTube channel will come from short videos played (adverts) when your video is watched by others.
It will take a lot of time and effort to generate a substantial monthly income using Adsense. If you put in the effort and get it established, it will be very passive.
Your YouTube channel will need to generate over 4,000 hours of watch time and over 1,000 subscribers in a 365 days period to be eligible for Adsense.
Merch by Amazon
This is one of the best Print On Demand sites. You can upload designs for T-Shirts, Hoodies and other merchandise. Once they have been approved, they will be available for purchase on Amazon sites. You will earn a commission every time one of your designs is sold.
Merch by Amazon can be a really good source of passive income. It may take a number of designs until you find a few that sell really well on a regular basis.
If you can come up with a really good design, it will get noticed on the Amazon site. You will start getting sales without much marketing effort. You will need to pay attention to the title and description to get your product listed and ranked highly on searches on Amazon and Google.