Having an income source that takes little or no work, yet provides you with a decent amount of money on a regular basis is a dream for most. Here are 5 realistic ways to do this online.
1. App Building
This is one of the best ways an app developer can use to make money passively. All you need to do is develop a good app, put it in various app stores, and then sell it for a few dollars. You can sell one or two apps to thousands of people, thus be able to make money while asleep. You only need a few days to develop a good app – why not do it today?
2. Drop shipping
Dropshipping is another excellent way to make money online. You however need/have to venture into the e-commerce business, not as a merchant, but as the middleman. You however need to build a storefront where manufacturers and customers can transact. You may however have to build a good relationship with the manufacturers to attract customers your way. The best thing with drop shipping is that you never have to worry about shipping, as the manufacturers handle all these.
3. Become a consultant
Although not a passive way to make money, you can use whatever professional skill you have to become a consultant. You can use this as a side job, whereby the consultations can be handled after office hours (say between 5 and 9pm). You can start charging small fees, then take it from there as the consulting business gains popularity.
4. Start blogging
This is one of the most rewarding income stream today. You however need to be very creative when crafting your blogs to build a following. The best thing about blogging is that you can use free blogging tools such as WordPress to start off. While some creativity is required, you can start off by reading other people’s blog to get an idea of how it should be done. It can be one of the best ways to make passive income online.
5. Sell items on EBay and Amazon
This basically entails having an item, or items to sell. This could be stuff you no longer use or need. All you need to do is create an ad on either EBay or Amazon, create a post, then upload images/photos of the item being sold. This ad will be visible to thousands of customers who may be willing to buy it. You can also sell your items on:
1. Flea Markets
Flea markets provide an excellent way to sell your items in an open-air market. The amount of money you can make on these markets, however, depends on the items being sold. The good thing about flea markets is that all you will need is a car or truck to carry the items. You can even move from one flea market to the other selling these stuff until everything is sold out.
You can earn some money/royalties from developing products or writing songs and books. You do not have to be an artist to become a writer or to receive royalties; you could simply buy another person’s lyrics or song, then auction it at a higher rate. You can also accumulate royalties from bidding on songs as well. Once the bid is accepted, you will start receiving royalties every month, hence an excellent way to earn money passively. You however need to be very careful about copyrights and such.