Any fully mature tree with deeply established roots requires little watering and sunlight. Passive income is not such a tree. Let’s clarify the situation. You don’t wake up one morning and find dollars sprouting in your kitchen garden. The initial work is enormous, requiring building skills, time investment, or even using some initial money. There is a thought distinction between passive income and active income.
Time wasted
Most people working from a 9-to-5 routine don’t like it. They do it because they have no option, or they haven’t discovered an option. It feels like prison, right? Just imagine sitting behind a desk for four, five, or more hours waiting to get paid. Then there is a salary delay, and you decide to confront your boss, and he looks at you with a face written on it, “I will pay you when I feel like it.”. Your bills don’t understand that language, and the stakes are on your rent money.
At some point, you reach a breaking point and decide that you will not do the boss stuff anymore. Waiting is now a tormenting experience. You feel like your income is tied to someone’s mood swings. Then boom! The arrival of passive income proves to be crucial.
Effortless?
If anyone is telling you that passive income is effortless, sue them, because that lie is as good as committing murder. It takes upfront investment in the form of time, skills, and even money.
Precius rule: If it takes daily effort to keep money flowing, then it is not passive. Compare passive income to an oven that cleans itself. It does not require constant attention like running a business where you need to maintain inventory, stock, and restock all the time.
What is your choice for passive income?
Ideas for passive income are not universally applicable. Find what works best for you. The best approach is to find that which you enjoy doing and are good at. If you hate people, then that is a plus for you. Find a niche where you won’t have to interact with people. If you love writing, go for it.
There is a phrase that goes, “dirty hands clean money.”. It is not clean money. It is smart mpney. At some point you need to invest in equipment. If you want to sell photos, you will need a camera. Creating online courses? All these need time to learn, and therefore there is always an upward cost.
The choice of a platform is very important. This is like a “home” for the idea that you have picked. Websites, blogs, social media—pick whetever is suitable to you and perfect it.
What Passive Income Isn’t
Wait! We probably have focused on passive income and forgotten about one important thing. Misconceptions. First, passive income does not imply zero efforts. It needs maintenance. A tree needs to be watered, pruned, and taken care of until it starts to fruit on it’s own.
Passive Income Ideas
Affiliate marketing is one good idea for earning an income by selling or recommending products that already exist to other people. However, you only start earning once you have invested time and efforts in setting up systems and channels, termed “outlets.”.
Creating online courses is a great way of earning income. This can be in the form of modules, YouTube videos, or pre-recorded online courses. This can also be integrated with affiliate marketing for optimum results.
A YouTube channel gives a wide range of ways to earn through YouTube ads, affiliate marketing, and subscriptions. You will need a commitment time of around 3 to 6 months. However, one needs to get the eligibility criteria from YouTube.
Rental income is passive, depending on how it is designed. People use mortgages to develop property, and once it is paid off, it becomes purely passive. The disadvantage is that it has initially difficulty setting up.
Starting a blog is a great way to earn a passive income. Once you set up a website, you focus on creating content in order to build an audience to start monetizing. Monetization can be through affiliate marketing, running ads, sponsorships, or even selling your own merchandise.
Publishing ebooks is another way to earn passive income. There are great platforms like Amazon KDP, where you publish your books and earn royalties. It takes a great initial effort, but once your books start selling and ranking, you earn while sleeping.
Other ways of earning passive income are through dropshipping, advertising, buying company shares, and social media influencing, among others. You can do more research and choose a nich that fits you well.
