Ten ways to make a passive income.

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Avatar for queengg
3 years ago

Let' be honest, we're all looking for other means of bring in some extra cash.
For whatever reason it may be; you want the best for your kids, student loans, personal loans, or maybe just for a better quality of life.

Whatever the case may be, there is hope.
Today I want to share briefly with you, ten ways that you can boost your income.

1- Freelancing

We all have some type of skill.
Like me, I'm a writer, a seamstress, event planner, etc.
You need to assess what skills you can offer the freelance market, and choose the best sight that would give you value for your skill.
I have been a user of Fiverr at least five years, and Guru for at least three years.
They have both been deemed successful to me, since I have been able to grow a client base and receive great recommendations and returning customers.
Your skill may not be my skill, you may be into art, you should try, graphic designing and maybe drawing. You may be into computers, you can probably try jobs that pertain to information technology like data entry and coding.
Join Fiver:http://www.fiverr.com/s2/508bcb3adc

Join Guru: https://www.guru.com/pro/

2- Ecommerce
So after you've identified you skill, it may afford you to sell digital products online.

This used to be for big companies but today anyone can set up an e-commerce shop and start selling digital products online with WordPress and woocommerce plugins.



3- Drop Shipping

You can sell well established products through popular sites like Aliexpress, Alibaba and even Amazon. It is a very simple process!
Just select the most popular products, and promote them on your ecommerce website, and 'wala!' CASH!.

4- Mobile Apps

You may have alot of great ideas for an app that would attract alot of users.
You may not be a programmer or at least know where to start when it comes to mobile apps development, but you can source a professional who would do it at an affordable price.
Ensure that you're making a decent profit even at the app's initial launch, this is crucial in maintaining it's success over time.

5- Video Blogging

YouTube is presently the second most well known site on the planet.

I'll be honest, it takes alot out of you so you'll need to be not only persistent but try to maintain some level of professionalism.

Give off positive energy and just be yourself, that's what people fall for most times!

It takes a while to build up, but who knows maybe your subscribers may grow insanely fast, try your luck!

6- Blogging

Well you're already at a great start if you're a active member of read.cash; after all this is a blogging site.
Allowing you to share your passion, knowledge or maybe just blog about things you're genuinely interested in and would like to share with the world.
Unfortunately, it's not the fast way to build a passive income, but if you're determined enough, with time you will reap the rewards.

7-Cryptocurrency

Cryptocurrency has grown increasingly popular since 2018, and is great source of residual income creation. There are two ways basically for making money with cryptocurrency. That is trading and mining. The good thing about this system is that you can trade from your mobile.

8- Network Marketing

One of the oldest businesses today, is network marketing or multi-level marketing. It is a method where you start at the bottom and work your way to the top. While it may not sound like a buzzword to speak on,  big corporations have been using it to bring hot products into the market and people have been using it to rise to great heights and earn passive and huge income for themselves. 

Multi-marketing is a great initiative.

9- Affiliate Marketing

Affiliate marketing offers a great opportunity for individuals who do not have a product of their own to take a good product of another person and sell it at a profit on any sale they produce. This is one of the simplest ways to begin earning passive earnings.

10- e-Book publishing

If you have an idea that can solve a particular problem, a simple way to put it, is in book form and publish it as given by kindle publishing. It has never been so quick to publish books. Many individuals have been wondering if there is a company that you can start without capital. If you can write your book, edit it, make an attractive cover, and write a good summary of your book, you can start making money right away. All is free.

Which one are you going to take action on first?

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3 years ago

Comments

Very informative and detailed article. A great help..

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3 years ago

Thank you. I'm glad I can assist.

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3 years ago

To be very honest such a informative article. Even I tried freelancing. Very nice experience.

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3 years ago

Awesome. I hope you achieve even higher height as you continue.

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3 years ago

Thanks dear 😊

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3 years ago