Strong Female Leaders

By Nan Nan Liu-Maffetone | Strong Female Leaders | Reading Time: 10 Minutes We have all heard of the saying, "work smarter, not harder." Having multiple streams of passive income will help you achieve that. By definition, passive income is income from rental properties, partnerships, or other businesses in which a person is not actively working for. It differs from a 9-to-5 job in that it is accumulated through prudent investments early on, in either monetary amounts, sweat equity, or both. Over time, you reap the rewards by putting in little effort to manage your assets and making money at the same time. Nowadays, passive income can be generated online, and has the potential to create financial freedom. It will take having smart strategies, being tenacious and taking risks. If this sounds like something that you are willing to scrafice effort for, then scroll down and find ideas that allow you to make passive income online.

1. Sell digital downloads on ETSY.

Unlike physical items, digital products do not require maintenance activities such as storage, packaging and shipping. As long as you have good design skills, artistic abilities and know how to market your products, you have the potential to be successful on market places like etsy. Digital products come in limitless forms, ranging from sewing patterns to invitation printables to journal templates. They allow you to stretch your creativity and give you the opportunity to make money. Many shop owners on etsy work full-time jobs while making passive income from selling digital designs. If you are the artistic type and can pick up digital design skills easily, then selling on Etsy may be the right idea.

2. Create an affiliate website or blog.

With affiliate marketing, you earn commission by recommending products to viewers and leading them to e-commerce platforms. If they make purchases from your guiding links, a percentage of the sale price becomes your commission. Popular blogs and websites such as Wire Cutter and This is Why I am Broke make above five to six figures each month. To get more specific, digital Marketer, Adam Enfroy, posts monthly income reports on his blog. In June of 2021, he made $281,776. Now that's a motivating figure.
In order to be a successful affiliate marketer, you will need some development exeprience, though you can outsource many tasks, a small startup fee, to get your website and social media going, and a lot of persistence. Just like starting your own business, you will not see great return for up to three years. You might need to work a full-time job in parallel to building your affiliate marketing site. You will need patience and fortitude, a passion for both the products that you promote and digital marketing, a niche that generates high ROI, and most of all, a strategy to scale up and out.
If you don't know where to start, start with a review site or vlog for common household goods to test out initial theories and ideas. If you can't finish a simple review within an hour, then move on to the next passive income idea.

3. Turn your YouTube channel into a passive income stream.

If you have a dynamic personality, enjoy sharing life experiences and have execellent presentation skills, then you might consider creating a YouTube channel and generate passive income from it. To get started, you do not need a big startup capital. In fact, a smart phone with a camera, wifi and a free YouTube account will do. The only real investments are time and effort. You will need to connect with other YouTubers, advertise your vlog, and continue to post with or without any viewers. When you have reached over 1000 subscribers and have over 4,000 valid watch hours in the past 12 months, you will qualify for the partner program that puts ads on your videos. You can also reach out to companies for sponsorships and promote products as an affiliate.

4. Rent out unused spaces.

If you have extra spaces in your basement, garage, driveway or shed, you can turn them into cash by signing up at neighbor.com and becoming a host. Without much work, you have the potential to earn a few hundred extra dollars with unused spaces.

5. Sell an eCourse.

Online courses have become increasingly popular with the help of platforms such as Udemy or Skillshare. If you have a sought-after skill such as coding, graphic design or digital marketing and enjoy teaching others, you can easily create an eCourse. The advantage of this type of passive income is that you only need to create the course once and update it once in a while. With savvy marketing, you have the potential to generate a 6-figure annual income. To learn more about it, visit Learn Worlds.

6. Become an Amazon influencer.

Do you have more than 10K following on social platforms such as Twitter, Facebook and Instagram? You might qualify for the Amazon Influencer program, which allows influencers to set up their own stores, recommend products right on Amazon through video reviews, shoppable photos and live streaming, and earn commission. The program not only offers a great way to connect with a big audience and build new following, it also provides opportunities to earn commission. Popular influencers make hundreds of dollars during just one hour-long steaming session. If you are already active on social and know how to connect with an audience, there is potential for you on Amazon.

7. Advertise your car.

Some companies will pay you to post advertisements on your car. After being approved by sites like Carvertise, you will receive printed ads to place on the sides, front, or back of your car, and earn between $350 and $1500 per campaign, or $100-$300 of income per month. It's not the most handsome payout, but it's easy "coffee money" for simply wrapping your car in advertisements.

8. Sell WordPress themes.

If you are talentetd with web design, another way to generate passive income is to sell Wordpress themes. With the WordPress platform accounting for more than 18% of all websites on the internet, great design is constantly in demand. With a beautiful and easy-to-use theme, you can sell your design at market places such as Theme Frost and Elegant Themes. Like with other digital designs, most of the work is done up front, and as long as you maintain products periodically and market them well, you have the potential to generate income with minimal effort. By the way, if you know how to code, you can also make and sell WordPress Plugins.

Parting Thoughts

Whether you are the expressive type who thrive on YouTube, a convincing writer who enjoys blogging or a designer who creates digital downloads, you have many avenues to generate passive income online from. It takes hard work, savvy marketing and persistence, but is entirely feasible. If financial freedom through passive income online is what you want, then a go-getter like yourself will find a way to accomplish it. Now that you have learned of some ideas, it is time to take a leap of faith.