Smart passive income is the key to financial freedom. Working a regular job from 9 to 5 can only do so much. Eventually, we would want options that allow us to make money without the need to invest time and active participation. This is when passive income comes in. It is the opportunity to earn recurring income while only requiring initial participation. Imagine doing a work once and, as a result, you get paid again and again for a long period of time.
That sounds like a smart way to earn money, and it actually is. However, many don’t know where to start or which options to take. There are actually quite plenty of alternatives for you to earn a passive stream of income.
Smart Passive Income Ideas
Rent Your Room Out
If you have an extra room to spare, you can use the space to rent it out to someone. With the help of short-term rental platforms such as Airbnb, you can find people online who are more than happy to pay for your room. This is a more affordable and convenient option for them compared to staying in a hotel. They may even stay for months! Even though this is not entirely passive income, this is one way of earning money again and again without demanding too much of your time.
Create an Online Course or Write a Book
Another way to earn some smart passive income online is to create online courses. If you’re good at something, you can write and teach people how to do it. You can use e-books, videos, and emails. Find an automated system where people interested in your course will be able to access these materials. You will get paid for every client who requests access to your educational materials.
The same process can be said about writing your own book. After the initial work, you can promote your book on various platforms such as Amazon or Kindle. Once that’s done, you’ll get money based on the number of people who buys your book online. Of course, you have the potential to earn more if you actively market your e-book.
Upload Beautiful Photos or Designs
If you love taking pictures, rejoice in the fact that you can actually make money from this certain hobby. Same is true if you’re into digital cameras and other photography-related technology. What makes this more interesting is you can earn passive income out of it. There are plenty of online platforms that offer money-making opportunities for both amateur and professional photographers such as Shutterstock. These websites have an automated system that pays you royalty every time someone downloads any of your photos. Aside from that, there’s the potential that you’ll get additional exposure because the clients upload these downloaded photos into their website content.
Similarly, you can earn recurring income if you have the talent and imagination for creating graphic designs. There are plenty of websites that allow users to upload design ideas for T-shirts, mugs, business marketing materials, and other wide variety of products. These websites will pay you a portion of the profit every time one of their visitors decides to purchase a product with your design on it.
Start a Business
Starting a business is yet another smart passive income choice. The initial setup may be difficult but the returns are definitely worth it. Owning a business is an excellent way of earning passive income. You can either choose to create your own business or purchase an already existing one. Either way, what matters is the work force who can help the business stand on its own feet. You’ll be able to earn monthly income without the need to actively participate in the business. You may need to check on it from time to time to ensure that everything is going smoothly.
There are also other opportunities where you can earn income without the need for employment. Examples of such businesses are vending machines or billboards. With little maintenance, these options will help you earn some extra money. What matters most is decreasing your participation time while increasing profits.
Try a Network Marketing Business
Network marketing business is also an excellent opportunity for you to earn recurring income. Like most of the examples above though, you may have to work hard initially. The key is to build a sales team that rewards you for leading them to success. This may imply making use of others and using pressure tactics to join your sales force but you need not resort to these dirty tricks.
Network marketing, or multi-level marketing, is all about pushing a product forward and building a successful team that helps each other out. You need an MLM company who has products that are relevant to your hobbies or interests. Your passion is motivation enough for you to promote these products.
Aside from that, you need to look out for a multi-level marketing company that offers a fair compensation plan. Meaning, everyone gets a share in terms of commissions and recruitment. This way, all representatives have the opportunity to get rewards by helping their respective teammates. With this type of environment, the sales force has the potential to grow exponentially. In time, you will earn month after month without having to do too much. This is definitely a smart passive income idea anyone can get behind.
So How Will You Earn Passive Income?
When renting out a room, you need to have an extra space in your house. This option might not be available for everyone.
Writing a book, taking photos, or creating designs seems to be advantageous to people who already have the skills. Again, this may not be a good option especially if you are just starting out.
Starting a business requires a considerable amount of capital and involves an undeniably financial risk. Not everyone will have the opportunity to take advantage of this option.
Network marketing is probably the safest option because it does not require a huge capital, it does not need an office space to work with, and you can easily learn the marketing skill through proper training. With the help of entrepreneur professionals like Rick Billings, your chance of success in network marketing is doubled.
Learn more about network marketing and the massive passive income opportunity it brings, feel free to contact us anytime!
To Your Success,
The Marketing MLM Online Team