Ways to Build Passive Income

I have done a lot of things for passive income but I have managed to earn passive income from only a few activities. For example, I have tried affiliate marketing, but I have not generated a lot of money through affiliate marketing. I have been blogging for 2 years, even though I do not earn a lot of money from my blog, I am quite satisfied with my blog income. I did once try youtube but I stopped working on youtube because even after six months of continuously working on youtube, I failed to reach monetization. However, after taking a break from youtube, I have once again returned to youtube and I am working on youtube.

Generating Passive Income From Youtube

YouTube is not only the most popular platform for Video Content Creators but also the most profitable to make money. However, it is really difficult to get monetized. Actually, youtube is not the only platform for sharing videos and making money from videos. Probably, YouTube might be the best platform for making money from videos or making from video blogging (popularly called vlogs), but there are a lot of other video platforms where you can earn by publishing videos. I am also exploring other options, for instance, Vimeo, rumble, etc.

Generating Passive Income Through Blogging

Blogging for money is the best way to generate passive income, and the best thing is you can receive payment every month. When you want to blog for money, you have multiple options. You can use free blogging platforms or website builders, you can blog on your own site, or you can blog on blogging sites. If you are responsible (publishing truthful information best to your knowledge and avoiding fake information) and only publish on the topic you know, blogging can be profitable on blogging sites. You have unlimited ways to monetize your blog, from running ads from adsense or infolinks to promoting affiliate products from amazon and click bank, doing sponsored posts, selling ad space on your site, selling your own products, or even webinars and courses.

Selling Courses as a Passive Income

If you search online, you will find hundreds of passive income ideas, but the main issue with these ideas is whether you have the required skills to do them or not. For instance, making a course and selling from learning platforms, for instance, udemy, is one of the best ways to earn passive income. You will continue to earn as long as people are enrolling for your course, and the best part is once a course is created you do not have to work on the same course again. However, creating a course requires a lot of skills. In order to create a course, you will have to shoot videos, and videos of you teaching the course, you will have to record podcasts, and podcasts on your course lesson, and you will also have to write ebooks and course materials. This is not only hard work but also requires a lot of specialized skills. Let's say you managed to create a course, do you start making passive money. Well, not. You also need digital marketing skills so that you can market your course and reach the people who are willing to take the course. You also need SEO skills in order to tank your course on the internal search on the platform where you published the course.

Selling Digital Products to Make Passive Income

Digital downloads are surely one of the best ways to build passive income. If you have a blog or website, you can sell digital downloads from your blog or website. Even if you do not have your own website and blog, you can use third-party websites and marketplaces to build your passive income through digital downloads. Creating products for digital downloads is not very difficult. For example, if you are good at writing, you can easily create an ebook and put it on sale on your website or on Amazon, Smashwords, Barnes and Nobles, etc. If you know how to use photoshop, you can easily create digital art and put it on sale in fine art America. If you are a photographer, you can use istock or even fine art America to upload your photographs and earn when someone buys your photographs. If you know how to use Canva, you can easily create social media templates or even printables like postcards, posters, etc. you can list your products on Etsy and earn when someone buys your product. You do not have to be a pro to make money through digital downloads. However, the key to earning is to create products that people will find interesting.

First published on Trendri, in the author's name