Passive income is an income that needs a little work to get and maintain. In generating passive income the worker exhaust little work to develop or grow the income. It is also seen as any business activities in which the earner does not participate materially. The aim of passive income is to generate money while you are sleeping.
There are products or business activities which can help to generate income passively. In this article I will discuss those business activities and products that can help to build a passive income.
ACTIVE INCOME VS PASSIVE INCOME
Active income is good but earning income actively is not enough to push you to the place of abundance. Active income involves those income that requires your active part in order to generate the needed income. Active income is needed because is through the income you have generated actively the can help you to generate passive income because for you to be able to generate passive income you must at least have something or a little token with you for a start. The little token is what you will need to put together in order to start earning passively.
WAYS TO EARN PASSIVE INCOME
There are various ways in which someone can earn passively without much both offline and online. Some of the ways to earn passively include
1. Book publishing
Book publishing is one of the way by which one can earn a passive income. One good thing about book publishing is that it continues to generate income whenever it starts selling. There are various book you can publish online. Two major types include
b. Physical book
This two major types can either be in this forms.
i) No content books e.g Notebooks
ii) Low content books e.g journals and logbooks
iii) High content books e.g novels, literature
Ebook are books you can only access on devices. They are always a high content books
Physical books are books you can touch physically. They can either be as a no content books, high content books, or low content books.
An E commerce website where you can publish books includes
a. Amazon Kdp.
e. Create space.
2. Uploading Video Content
Video uploading is another way by which someone can earn passive income. The money earned by uploading video comes from ads which is possible at a certain condition. There are websites that you can earn money from by uploading a video and those websites include
c. Vimeo on demand.
3. Affiliate marketing
Affiliate marketing is another way you can earn passive income. It involves marketing company's or someone's products inorder to earn a certain percentage as a commission. Some of the website where you can market a product inorder to earn includes
c. Amazon Affiliate
f. Rakuten Marketing Affiliates
g. Cj Affiliate publishers program
4. Article Writing
Writing article is another way to earn passive income. In article writing there are websites that allows you to sell article and earn while there are some that has a topic published by thier customer for you to write on and earn while there are websites that allows publish an article on thier website and you earn based on the number of interaction you have for your article. Some of the website includes
5. Solving Questions
There are websites that pays you to solve mathematical questions or any other professional questions. These websites needs expert in any specific area of profession. Some of the websites includes
6. Offering Any Of Your Service
You can earn passive through a website that allows you to offer any of your skill in each for Money. Some of those websites include
7. Doing A Mini Job
There are websites that pays you to do a mini job. Form this websites you can earn a little amount of income which can help in building up your income. Some of these websites includes
8. Transcription Job
Transcription Job is a kind of job that involves typing audio sound into a written word. In this job you are paid per audio minutes. Some of the sites where you can see transcription Job includes
f. Rev transcription
Other ways to generate passive income includes
1. Trading forex
2. Investing and Trading cryptocurrency
3. Investing in stocks
4. Starting a blogging website
5. Creating an online course
6. Selling your old college or University notes online. Some of the place to sell your old notes includes
Finally passive income generation requires effort and time in order for you to start seeing the needed returns that you are expecting. So patience, hardworking, diligence and persistence is needed when it comes to passive income generation.