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Maximize Your Work Online By Doing These Passive Income Ideas
Many of us on this platform are probably earning passive income from the little effort we do in this digital world. And having a stream of income with little effort is something that every adult's dream come true. Our real-world is busy so many individuals are diving into the digital world to seek opportunities that can help them support their daily lives.
And the reason why many people prefer online works to get a passive income is pretty simple, it's the relationship between time and money. We only have 24 hours a day, and all of us can't have more of it. That is why passive is income is very important because we value time more than money.
Moreover, we can't expect our dividends in a bank to spike in a second or hours. But we have many things to get paid for like rentals, tuition, bills, debts, taxes, etc. And our active income is sometimes not enough to cater to all of those basic needs and expenses. We are lucky to find earning opportunities online that are giving us passive income. Just like in this crypto space, we can earn passive income by staking, farming, lending, etc that doesn't really require much time and effort.
But what are other things that we can do online where we can earn passive income?
The first one is, of course, what we are currently doing is,
This is one of the popular sources of passive income where you can create your own blog about your area of expertise or favorite past time, or using your own genre of writing. You just need a platform where you can express your thoughts and ideas, or showcase your talents in writing.
The start is not that easy though especially for those who are creating their own site for blogging. You still need some heavy lifting on the front end, from site designing, to create a bunch of content so you can get more visitors and readers. But once you've got it off around, you can easily generate profits without exerting too much effort and putting in a lot of hours.
Pros: The opportunity to make money from writing about something you love. Doesn't need too much time and effort.
Cons:It needs some experience with search engine optimization to gain traffic. It's quite unhealthy to be stuck at home the whole day, with some body pains.
The next to blogging is of course,
VLOGGING OR VIDEO MAKING
If you like surfing on youtube, why not create your own channel and upload videos so you can earn passive income? But the same with blogging, you still need some time to gain followers. And in vlogging on YouTube, you need a certain number of followers and hours before you can monetize your account and start earning passive income.
But what's good in vlogging is you can vlog even your daily activities, whether it's gardening, cooking, art, fashion, travel vlogs, and more. You can enjoy it while earning passive income. The only key here is to attract as many viewers as possible. And once you get them, you will generate more passive income monthly even without posting videos daily.
Pros:Some videos can continue paying out even after they have been posted.
Cons:It takes time to achieve the followers and watching hours you need to start earning. You will need good equipment like a high-quality camera, microphone, and computer for better editing. You also need more time in recording videos and you need good editing skills.
Since you are into blogging, why not maximize your writing skills? This is a good source of passive income for those who really like writing like @Hanzell and other authors here. And what is good in launching e-books is that you can launch them any time even today, and you can still make a profit from selling them months or years down the line. And that's the real passive income.
But of course, you are not just writing a one-page article here, you are writing a book. So it needs a little work beforehand. And you can't just expect your sales to fall on your lap, you need some time and strategy to get a lot of sales, and more passive income.
Pros: You can launch e-books today, and you can still make a profit from selling them months and years down the line.
Cons: It takes a lot of time to write an e-book. To generate more income, you need to work with affiliates, create email funnels, and more marketing strategies.
SELL PHOTOS AND VIDEOS
If your hobby is photography and making videos, why not make a passive income from them? This becomes the domain of some professional photographers and videographers. You too can convert your photos and videos to passive income.
Websites like Shutterstock can provide you with a platform where you can sell your photos. They may offer you a percentage or a flat fee for each photo that is sold to a site client. You just need to create a photo portfolio, upload images, then generate passive income, and your photos can be sold again and again. Some major outlets like Yahoo, MSN, and other TV shows around the world may also buy your videos, especially those how-to clips. You can also upload videos on user-generated content website like Newsflare.
Pros: A good way to convert your hobbies into cash. Easy to upload photos and generate income once clients bought your photos.
Cons: Need to have high-quality gears. Clients are selective and only choose those high-quality photos.
CREATE ONLINE COURSES
If you are a teacher or a person who likes teaching, why not convert your skills and knowledge into passive income? It's just actually easy. You just need to identify your field of expertise, create an online course about it, then generate passive income.
But creating online courses isn't that easy as you need more time, a great video editor, and equipment and skills in making videos. However, if you are not a talented copywriter, maybe you can hire someone who can wave in-demand phrases into refined course descriptions.
Pros: You will be able to help others using your knowledge to grow professionally.
Cons: It needs excellent videography and editing skills, more time, and money.
So these are just some of the ideas on how to earn passive income online.
Technology and the internet have brought a lot of earning opportunities and these are truly helpful especially during this pandemic situation. Working from home also has a lot of advantages.
You don't need to commute and wake up early.
You will have more quality family time.
You can save money since you don't need to commute and buy lunch.
It makes you more flexible since you can work anywhere.
But at the same time, it also has disadvantages which include:
You'll have a lack of discipline that will make you less productive.
There are a lot of distractions at home, your kids, your favorite tv shows, even your noisy neighbors.
You'll miss doing house chores since you are more focused on finishing your tasks online
Less interaction with colleagues and friends can make you feel lonely and isolated.
Internet dependency since you will be working several hours online just to finish tasks before the deadline.
And you will suffer from several bodies pains
Along with the lockdowns and social distancing measures, working from home is truly the best option to generate passive income. However, given these disadvantages, it is important to get the balance right to stay productive and in the right headspace for both work and life.