There are legitimate and possible ways to make passive income with the internet these days, and how is that?
First, what is passive income? Wikipedia says, “Passive income is income that requires little to no effort to earn and maintain. It is called progressive passive income when the earner expends low energy to grow the revenue.
Examples of passive income include rental income and any business activities in which the earner does not materially participate.”
Yes, you heard it right, a passive income is earnings you can acquire even when you are sleeping or having a vacation in Hawaii enjoying the magnificent view of the beaches or instead craving delicious savory dishes.
But on this topic, I particularly mention how to make passive income in the internet world.
Five lists to make passive income with the internet
1. Affiliate marketing
2. Blogs Buying and Selling
3. Create a YouTube Chanel
4. Sell your product on the internet
5. Make money with photos
Affiliate marketing is the practice of recommending someone’s products and services to target customers.
This practice becomes effective when sales are generated, and commissions are earned.
There are a lot of bloggers and website owners already engaging in this type of sales tactic and make five or more digits of passive income.
It doesn’t matter what level you’re. Whether you’re a beginner or expert, affiliate marketing wins all the time and here’s why;
- It doesn’t involve the selling of anything. Your only job is to promote by driving traffic to an affiliate offer.
- It doesn’t include the creation of a product or service.
- It doesn’t include product inventory, delivery, refund, cold calling, customer support/care, etc.
- Low cost to entry
- Great for beginners
Affiliate marketing is by far the best business model to venture into as a beginner.
As I said, affiliate marketing is one the best option to start with online, and make a passive income; it is indeed what the majority begins.
However, not many succeed with it. And the main reason for this is not being prepared.
It’s like when you decided to cook your dinner, and you have to determine the menu first, going to buy the ingredients and do the actual cooking. You get the picture, right?
The same thing applies to make passive income on the internet using the power of affiliate marketing.
As simple as affiliate marketing seems, you don’t just dive in unprepared and expect profit off of it.
Rest on the following strategies to get you started and well-prepared with affiliate marketing.
Finding affiliate products
Let’s take a closer look at affiliate products. These must be high-quality products that you’ve used yourself, and you’re confident they can solve problems or offer relief.
Every niche has got affiliate products for you to promote and make money.
To attain this, you should research the types of products your audience is looking for.
Once you’ve figured out the right products and services to sell in your niche, the next step is to increase the level of your reader’s trust and loyalty, establishing a good relationship and transparency with them.
From then on, affiliate marketing will be entirely doable for you.
The following are some great websites you can find affiliate products to promote and make money at home on the internet.
A great place to start your affiliate marketing business is at using Amazon’s affiliate program called Amazon Associates because it is the biggest online marketplace with almost every niche caters.
You’ll find millions of products and services to promote as an affiliate and make money.
- Almost unlimited choices of products to select and promote depending on your niche.
- Excellent commission structure (Up to 10% on every product sale). If someone uses your Amazon links to buy, for example, a backpack, and then they go on and purchase other products, you still get compensated for that too.
- Amazon has a 24-hour cookie; it means that when someone clicks on your affiliate link, you’ll get commissions from everything they buy in those 24 hours since clicking on your relationship.
- It has limited payment options for affiliates. Amazon only pays its affiliates using cheques or Amazon gift cards.
- They limited cookie time. If someone uses your Amazon link and buys or perhaps doesn’t, when they return after 24 hours, no commission for you!
I bet you’ve heard of Clickbank. It’s a diverse marketplace circulated with digital products and services from hundreds of niches that you can pick and choose and promote.
- A diverse range of products to promote. No matter what your niche is, you’ll find something to help at click bank.
- High commissions. Since click bank deals with digital products and services, they pay affiliate very high commissions, sometimes up to 100%
- Clickbank is free for just about anyone to sign up and start with affiliate marketing, no matter where they are in the world.
- It has limited payment options. Clickbank only pays its affiliates through wire transfer and cheques.
MaxBounty is much like ClickBank, but the only difference is that MaxBounty is more diverse and offers many more exciting offers such as CPA campaigns.
CPA offers are ones that don’t require you to sell to earn a commission; all you need is to get sign up or lead to the proposal.
Cost per action is what CPA stands for, and so you’re paid usually a fixed rate for a one time email submit, for example, so there’s no selling, you’re just asking people to sign up for things.
- Digital payments. Unlike most affiliate networks, Maxbounty offers digital payouts to its affiliates.
- Maxbounty offers a great generous reward if $1000 to any new affiliate who earns $1000 in their first three months at the platform.
- Digital payments. Unlike most affiliate networks, Maxbounty offers digital payouts to its affiliates.
- They are known to shut down accounts that use free traffic or if you’re a low earning account. They would state “fraud” for the cause, which is furthest from the truth.
There are many more affiliate sites to visit and promote, but I won’t list them all here. I guess that will be a topic for another day.
Blogs Buying and Selling
Thousands of blogs are created every year, and thousands are either completely abandoned by their owners sometime afterward. If you can buy blogs with a reasonable amount of web traffic — as well as a demonstrated cash flow — it could be a perfect passive income source.
Most blogs employ Google AdSense, which provides a monthly revenue stream based on ads that Google places on the site. There may also be affiliate programs generating additional revenue. Both income sources will be yours once you purchase the blog.
From a financial perspective, blogs usually sell for 24 times their monthly income. So if the site generates $250 a month in rent, you can likely buy it for no more than $3,000. Translation: a $3,000 investment will buy you $1,500 per year in cash flow.
You may even be able to purchase the site for less than 24 months’ earnings if the site owner is particularly anxious to get out. Some sites have good “evergreen” content that will continue generating revenue even years after the site has gone silent.
Bonus tip: If you were to buy such a site and then to reinvigorate it with fresh content, you might be able to raise the monthly revenue enabling yourself to sell the website at a later date for substantially more than what you paid for it.
Finally, instead of buying a blog, you might want to create your blog. You can make some money either way!
Create a YouTube Chanel
This is a venture that is generating. You can create videos in just about any area that you like — music, tutorials, opinions, comedy, movie reviews — anything you want. . . Then put them on YouTube. You can then attach Google AdSense to the videos, which will overlay your videos with automatic ads. When viewers click on those ads, you will earn money from AdSense.
The keys will be to create compelling videos, to promote those videos on social media websites, and to create enough of them that your income will be coming from multiple sources. There’s a good bit of work that goes into creating videos, but once a video is done, it can become a completely passive cash flow source for a very long time.
Don’t you think you can find success with YouTube? You sure can. Emily Eddington used her love for makeup and YouTube to quit her full-time job. She has received over 66 million views on YouTube. This former morning news anchor took her passion — makeup — and turned it into a phenomenal success.
Sell your products on the internet.
The possibilities here are endless — you can sell just about any product or service that you like. It could be a product you have created and can manufacture on your own, or it could be digital (such as software, DVD, or even instructional videos).
You can set up a dedicated website for this product or service unless, of course, you have a website or blog already in place. Alternatively, you can also sell it on an affiliate basis, either by offering it directs to websites and blogs related to your product or service or through a platform such as ClickBank.
If you make a lot of money in your current job and you’re not sure that you can make a similar amount by selling products online, think again. A while back, I interviewed Steve Chou from MyWifeQuitHerJob.com. In our podcast interview, Steve explained how his wife quit her job to become a stay-at-home mom.
Now, being a stay-at-home mom is a full-time job — but Steve Chou’s wife also started an online business that replaced her former salary and started bringing in a six-figure income! Wow, right?
You can learn to sell products online too and make quite a bit of money. While it’s not entirely passive, it’s certainly more passive than getting up and heading out the door to work every morning!
Put your photography on the web
Attention shutterbugs: Do you bring your camera everywhere you go, snapping perfect shot after perfect shot?
Cash in on your photo addiction by selling your photos on these websites. Each one has a different payment structure, but they offer a great way to turn files sitting untouched on your hard drive into some extra cash, without much extra effort once you’ve edited and uploaded them.
If you’re earning serious cash as a stock photographer, you’ll have additional tax liabilities. Still, you may also be able to deduct your photography equipment, software, and even some of your travel to shooting locations.
Be sure to consult a pro to find out how to stay on the right side of the rules.
Sites where you can sell your photos
- Shutterstock This site has a somewhat complicated pricing structure, but the more you earn (“lifetime earnings”), the more you take home for each image.
- iStockphoto This site has been selling stock images since 2001. Since it’s been around for a while, it has an extensive network of contributors and thoroughly vets new applicants to make sure they’re a good fit.
- Etsy’s not just for selling wedding decorations, custom Halloween costumes, and quirky cat-themed gifts. You can also sell your photos!
- SmugMug Pro SmugMug Pro lets you keep 85% of the markup for your images. The catch is you have to buy a Pro subscription, starting at $12.50 per month, to take advantage of this high royalty; there’s no free option.
- 500px Prime Five million photographers list their stock images with 500px, according to the site. You’ll receive a 70% net for every license sold (standard licenses are $250), and your images may appear in big-name ad campaigns if you submit them for commercial licensing.
Doing all the above, you need to learn and have proper training. Here I recommend a platform that you can acquire all the knowledge, training, and wisdom of all the successful internet marketers that you can name it. Count on me you’ll love being a part of the community.
If you have any questions on how to make passive income on the internet and anything about affiliate marketing, please do not hesitate to leave me a comment below! I’m always at help!