The idea of passive income is fascinating. You can have earning even when you’re sleeping.
What Is Passive Income?
Passive income refers to regular earning from sources other than an employer. Being a full-time employee, your income source can be limited to a monthly salary or a package.
With passive income, you have more income channels and might feel more secured.
You only get 24 hours a day. Sell 8 hours every day, sleep for 6-8 hours, you can only get an extra 2-6 hours left for your own.
Having a passive income doesn’t mean you don’t have to invest. On the contrary, you need to start with something to build your service or goods. And make the run to help you get long-term interest.
Four Passive Income Practice
Here are four common ways people make their passive income.
1. Run A Site
You can build a blog, keep writing articles, and attract traffic to your site. When the traffic is built up, join the advertisement or Google AdSense. Then put advertisement on your blog, and you can have earnings by clicks or article views.
2. Sell Information
Could be an audio or video course, on a specific skill, such as language, design, coding etc.
Distribute your course to platforms like YouTube or Coursera.
It will require more effort and a good product. And if it works out, the payoff could also be excellent.
Whether it’s a website or an app, it has zero marginal cost, which means the more users you have, the more you can earn, without extra costs like human resources or commodity cost.
4, Affiliate marketing
With affiliate marketing, you can earn a “commission” by promoting a product and redirect people to the seller’s site.
If you are a website owner, blogger, social media “influencers”, it would seem a nature way of passive income.
Some well-known affiliate partner are Amazon, eBay and Awin.
Okay. If you feel like passive income is not a bad idea, you can start putting your “second career” into practice. And the journey begins now.
(Images from the internet)