How can passive income be generated?
Creating products for passive income growth is a great way to get over the idea of working hours of trading for dollars. One of the oldest passive income ideas is real estate rental income, but today you can earn passive income online right from your home.
Here are some ideas that work well.
Create apps
Even if you don’t know anything about code, you can find freelancers willing to build your product for you to specify. Come up with an idea for your audience, then execute it by a coding expert. You can find them on independent websites like Upwork.com.
Write e-books
Today, publishing your own e-book is a great way to generate passive income. You can write it yourself or you can hire a ghostwriter to do it for you. You can publish e-books on Kindle for free. Or you can, for a fee, use CreateSpace through Amazon to publish a printed book if you want.
Run a YouTube channel
Did you notice that some people make thousands of dollars a month from popular YouTube channels? If you want to break in, you don’t need to be fancy. You simply need to find a topic that is popular and present it in a way that people like to see. You keep a portion of the advertising revenue.
Create a payment directory
There is software available that allows you to create a directory website that runs almost automatically. People put their information in the directory for a fee, then they simply approve or not. Approvals can even be automated.
Develop EC courses
With websites like Udemy.com popping up all over the place, you can now create your own eCourse and get paid for each person who signs up to take the previously created class. This is passive income at its finest. Aside from updating outdated courses, just publish and collect.
Create an information product
An information product is one of the oldest forms of passive income on the web. Just create a product that teaches someone how to do something they love, or provides you with a collection of information you want, and you’re in business.
Create a membership website
People love to be exclusive and feel part of an inner circle. You can charge a monthly fee to allow people to be part of your inner circle if you have enough information to share with them. Add a forum and a lot of people are left alone for that.
Run a website / blog
The blogs and websites that are active have content that is published on a daily basis. The content is free to read and the advertiser is supported through ads and affiliate products. But you can also create a pay-per-read website and blog. It’s up to you.