10 WAYS TO MAKE PASSIVE INCOME

1. Create a mobile App

The high influx of smart phones has made this a fertile ground to venture into and start smelling some cool cash into your bank account passively.  Though this might sound intimidating to some people who have no idea about IOS or programming, yet a newbie can still venture into this if only you have the interest, there are a lot of videos on YouTube that one can watch to help you learn how to create your own App and make it available for download at Playstore. 

The important thing to consider is to identify a problem your App can solve; probably you want to create an App that can help track and catch a thief, or an App that can help in communication or an App that can aid in converting currencies. Once you have identified a problem you want your App to solve get to business, start creating it and make sure to upload it to Google Playstore.

Research indicates that:

• 25% of Apple App creators earn $ 5,000/month
• 16% of Android App creators earn $5,000+/month

You may not earn up to that but close or even earn more than that, it all depends on your effort and how you market your App.

Now the question will be how do you earn the money?  When you upload your App to Playstore and people download to use them for free, Admobs (these are mostly adverts)are placed on them, it is these Admobs that generate for you income, owners of these Admobs pay you for advertising their business on your App. Or you could also decide to monetize them so people can pay to download to use them. Just make sure your App solves a problem.

You will also need to put in some work in advertising it so it is known.

2 . Dropshipping

This is a 21^st century business model which takes the fashion of e-commerce where you create and own a store online and stock it with products ready for sale. You will need to create an online store with a site known as Shopify (tutorials about this are on Youtube which you can easily learn)  After creating the store you then visit ‘www.Alibaba.com‘ where you can easily find suppliers to pick products from them and stock in your store online.

Caution: be careful with these sites if you don’t find the right suppliers you will be getting inferior goods.

The good thing with this business model is that, you don’t keep inventory, your supplier keeps the inventory and anytime someone clicks and buys anything from your store your supplier ships the product to your customer, you don’t handle the shipping.

There are two options; you can decide to start with zero or no capital, (the only cost you might incur is paying for the use of Shopify; but with it you are given a 2 weeks trial) in this case if a customer ask to purchase a product from your store your supplier in China takes the base money and ship the product whiles you keep the profits. Or you could also get some initial capital to start with, at least $ 250-500 can be a reasonable starting capital. This capital is used to buy a domain name for your store, (Optional) pay for Facebook advertisement etc. I actually recommend the latter because it is more actionable way of tackling the business

One thing you need to note is that; you should identify current trend of products that have demand in the world market probable trending sneakers, watches, shoes etc. You should also have good communication skills that can lure your customers into buying products from your store.

Though this business model seems quite competitive as a lot of people are into it, with understanding of the business model and much effort it can be quite rewarding and can earn you money passively.

3. Sell your Designs (Print On Demand)

Do you have some Photoshop skills? Are you someone interested in designing? Are you an Artist? Well there is good news for you. There are sites where your beautiful designs can easily be uploaded to which can see you literally make some cool cash passively. These sites allows you to put your designs on provided merchandize such as T-shirts, hoodies, pullovers, stickers, pillow cases, laptop covers among a whole lot of others. There are quite a number of them but I personally recommend Redbubble.com and Teespring.com, I personally have my works uploaded there for sale.

Now how does it work? Just visit any of these sites create and register an account with them, get your designs ready and upload to the site, the site will automatically place your designs on the merchandize, and that’s it, anytime people selects your design on any of the merchandize, the company does the printing and shipping you only wait to pick your share of the profit; that simple. In this case if it is a T-shirt and the price tag is $50, there’s a base price which could be $20 that goes to the site, you the designer then takes the remaining balance of the amount.

The interesting thing about these sites is that, you put in the work once and your design is there, any time people make an order you are sure of a cheque, also they are free you don’t pay for any registration.  (In case you are interested in this business and do not have any designing skills there are a lot of videos on YouTube that can help you out)

Below is also a link to my site if  you want to check it out and understand what I’m talking of. You are free to also make a purchase.

https://www.redbubble.com/people/Baganiah/shop?asc=

• 4. Creating and managing a YouTube Channel

Do you have a particular skill that you are good at? Can you make videos to teach people your skill?  Are you someone that likes talking on camera? Then this is an area for you that can literally see you making some good money. All you have to do is create a channel account with YouTube, get your video equipment ready and you are set to go, if you don’t have a camera you can start with your mobile phone camera and start churning out some videos to share to the world.  You will also need some video editing skills to start, however if you have no knowledge in editing there are videos on YouTube that can help you learn some basic video editing skills. There are also free editing softwares like Davinci Resolve, Shotcut, Hitfilm that you can download to use for free.

Now how do you make the money? YouTube deals with audience, so the number of viewers and subscribers you attract to your channel is what qualifies you to earn money through placement of Google Adsense; you will need to have about 1,000 subscribers and 4,000 watch hours to qualify you to monetize your channel, intimidating right? But you don’t have to be intimidated, just make sure when you start, you give out good content that gives value to people.

Your channel could be about how to cook, probably your local dish, singing, how to draw, how to exercise, poetry, Sports review etc.

The interesting thing about YouTube is that, anything that interest you can be put there and you will find people interested in it.

Now when your content attracts subscribers and viewers to your channel, you can apply to YouTube to have your channel monetized, and YouTube will start placing Google Adsense on your videos.

It is these Google Adsense that makes you earn  passive income. You are also allowed to advertise your own products or do Affiliate marketing to earn for you more cash.

YouTube is absolutely free to create an account.

5. Sell your Photos

Are you someone who enjoys taking photos either of nature or anything interesting? Then you have a chance to make some money with your photos. There are two sites (recommended) that you can literally sell your photos which can be giving you royalty revenue. All you need is a camera or if you don’t own a camera and you have a phone that can take decent pictures you are set to go. You might also need some photo editing skills to make them look nice for upload.

The first site is Shutterstock:  It is an online photo store purposely created for people to sell their photos online, all you have to do is visit the site create an account with them and you are ready to start uploading your cool photos to start making some money. There is a beginner level earning and the more you contribute to the sites your earning per download increases. (You can visit the site or click on my YouTube video link given below this post to learn more about it )

The next site is Getty Images: Getty Images actually is a bit popular than Shutterstock but they are both similar and good sites to sell your photos. Someone might wonder why you have to pay for images to use them, now images that you search for on Google are mostly copyrighted, meaning there are people who owns rights to them and cannot be downloaded used in your commercial work, if you do that without purchasing the license for them you can be sued by the owner of the image, so now you understand why is a business for some people? That is why if photography or taking pictures is your passion you can jump onto it and start making some cool royalty cash. At Getty Images an image can even go as much as $ 499.00 USD.

Good Luck!

6. Domain Flipping

In case you don’t know what domains are, domains are dizcovaself.com,  name.com, .net, .org etc.  It is good business venture that can make you make a fortune with the right understanding of what profitable or good domains are. There are sites you can register with and buy expired domains from them and resell them.

What happens is that everyday domain names expire, mostly these domain names are used to build sites which are either running or abandoned, maybe owners of those sites are in jail, have died or carelessly left their sites to expire. In this case the registrars of these domains pick them back and they are auctioned or resold out mostly at very cheap prices. So people buy these domains and can even resell to make a fortune because some of those domains are valuable domains with good backlinks. So you can easily start by registering with some of the sites that auction or sell out these domains, sites like Expired domains.net, Godaddy.com, DomainHunterGatherer.com so you can buy from them and either resell them immediately at sites like sedo.com, efty.com, and Flippa.com etc.  you can also decide not to sell them immediately but hold them for some time probably to get a good value or buyer to buy them, or you can do what is known as- domain parking where you park them at sites like sedo.com where you earn money through advertising links that are consistent with the domain name from its previous site. (To be able to purchase domains and flip them, you will need a Visa/Master card which you can acquire at a Bank, you will also need a Paypal account for your online payment, or if you are in a country where Paypal is not accepted you can try Payoneer with this link: http://share.payoneer.com/nav/kvIyKlT9Aq5_f05RCt-uoazFeirsxX39SZnVU-jnOSrUkHKE_V3awv4ZT-QILs7uMaugd8EzvHmWFV75Io10Yw2

Below is a list of some domains that made people fortunes

SOME HIGH SOLD DOMAINS

Carlinsurrance.com -$ 49.7 million

Insurance.com -$ 35.6 million

Vacationrentals.com- $35 million

Privatejet.com-$ 30.1 million

  Etc.

Note: Before you throw your net into this business of domain flipping, you need to first understand the metrics used to appreciate a good domain so you don’t end up buying junk domains that can’t  sell you a penny. (You might not hit such an amount in buying and reselling but you might be close or even more)

7. Sell your skill

Do you have a particular skill that people admire about you and even sometimes come to you to learn from you? Then you have a chance of making videos explaining processes in that skill and selling those videos as video courses online. These sites are; Skillshare and Udemy.

All you need to do is visit any of these sites register and create an account with them and start making some videos explaining the process of that your skill, that skill could be how to draw, how to cook a particular dish, techniques in playing football, how to play a guitar, academic courses like understanding mathematics, English, physics etc. you just need to identify what skill you are good at, then just head over to www.skillshare.com or www.udemy.com and create an account with them and start making your explainer videos.  You can use your phone camera to record your videos if you don’t have a camera.

You can really make good cash passively with these sites. When you upload your videos the number of minutes a person watch your video earns you money accordingly. Thus people who subscribe to your video courses. It is estimated that newbies can earn up to $ 200.USD/month, your earning actually increase as you have more people that subscribe to pay to watch your video tutorials, old members with a lot of subscribers can earn up to $ 3,000.USD/month.

 Both sites are free to register so you can try them out.

8. Create a viral website

This is a kind of site that contains interesting information that people can attach emotions to or that looks very entertaining and trending that people can easily share on social media. Now how this makes you money is that, as a lot of people regularly visit your site to read your content it means that you have what is known as traffic, and once Google realize that you have appreciable amount of regular traffic, Google places Adsense on your blog and that is how you make the money, you could also put affiliate links to your channel to make more money.

Example of such websites include; buzzed.com, upworthy.com, viralnova.com etc. you can visit these sites to understand the trend. So you can take advantage of the large number of people using social media to register your presence with your viral website.

Content you could write about include; celebrity feud, religion and spirituality, health tips, latest trending hot issues etc.

I know some people will be intimidated by the fact that you need to create a website or blog, but you need not to be intimidated, there are easy YouTube video tutorials that can help you create your own website or blog which wouldn’t take you much time.

(you can visit Nayyar Shaikh on his Youtube channel on the link below to learn how to create a viral blog) (https://www.youtube.com/watch?v=PS1GCEdfPUo )

9. Creating and owning a blog

Though this looks similar to a viral website there is some few difference in their approach.

So now what is a blog? A blog is simply an online journal that gives information to people, it’s informative, entertaining, and it’s educative.  It can be about whatever you are passionate about which just like the viral website you can create it and start posting content on it for people to read. But with this you need to understand SEO ( Search Engine Optimization) you need to understand how to create a blog with the right keywords that make it rank on Google search in order to give you maximum traffic site visit . With this, tutorials on YouTube can come to your rescue if you need help.

To get your blog started, you will need to purchase a domain name which you can easily buy one at www.NameCheap.com for as low as $ 8.88, or you can buy an old domain name at www.expireddomain.net I actually will recommend this because if you get a good domain name you can transfer its juice and high metrics to your new site  but is doesn’t mean you cannot buy one that is new and probably have your name or brand name on it. The next thing will be getting a hosting for your blog which again I recommend Sideground hosting.

Creating a blog actually does not demand you should have coding skills or to be an IT savvy with some little learning from tutorials on YouTube you can have your blog up and running.

Is it lucrative to own and run a blog? Yes! Is it meant for everyone? No!

If you don’t have the passion in what you do and passion in writing regular articles to post, then don’t venture into it. But in case you have that passion then is quite rewarding and can earn you substantial amount that can even make you resign from your day job you hate.

A research on how much money blog earners make indicates that an average blogger earns between $ 200-2,500/month, it also indicates that the big names in blogging also earn up to $ 20,000/month.

So as you can see is quite lucrative and your effort is paid off.

Just like with the viral website, you make money by the Google Adsense that are placed on your blog, and you can also put some affiliate links as well to add up to your earning.

10. Create a product

Do you have an idea on coming up with a product that you think can solve a problem? Or there is an already existing product that you think you can make it look better, then you have an opportunity to be the next Steve Jobs (laughing…) you don’t have to be a genius like Steve Jobs to be able to come out with a product, with the new waves of businesses going online there are a lot of manufacturers who are ready to help you manufacture and create your own product that will be patented to you. You just need to identify the materials that will be involved in coming out with your product for instance Elis Trendz is working hard to come out with a product, and her materials/ingredients are Shea butter and cocoa oil, among other ingredients, so she will first of all make a local production of it and validate its efficacy or goodness with people close to her or family members and head over to sites like www.Alibaba.com where she  can find manufacturers negotiate with them and bum! she’ll  be  ready to hit the market with her product.

Note: you will need to do some preparedness before your product can be welcomed in the online market space, like creating an online presence to market the new product, you will also need to get the patency from your country’s authorities before you hit the road with your product which I think shouldn’t be that difficult to obtain. Also depending on your negotiation with the manufacturer you might need some initial capital overhead to pay for production, or products are produced and sold out then you pay your manufacturer, all depends on the agreement only if that is possible.

It might look intimidating to do, but trust me you can be on your way to becoming a big time online successful entrepreneur with your effort. Don’t be scared to give it a try.

                                                 SUMMARY  

The power of the Internet has revolutionized how business is done in the 21^st century and has given and opened opportunities to anyone who is serious and ready to make an impact and become a successful entrepreneur, becoming a big time entrepreneur is no more a reserve for those having huge capital as opportunities offered by the Internet has made things easier. Everything depends on you.

(You can also watch the video below)