Have you heard way too many people talking about their passive income without any idea what they mean? Or have you been in situations where the internet just stopped making sense when you’ve heard people making money even while they sleep?
The digital space can be both an enigma and an exciting place to be in, and while there are tons of “experts” who will make it seem like they know exactly what will be a profitable endeavor, it helps to recheck. I mean we’re ordering everything online and delivered within 2 hours. The lines between a workplace and home have become blurred, people rent clothes online, and are completely comfortable to provide their credit card details for “one month free trials” for online services.
Naturally, for any person in the digital age who is consuming so much information and content, there has to be some way of making money from such content. Whether you enjoy teaching, writing essays or articles on different topics, love photography and more, there is a way for you to monetize so many hobbies and careers that don’t need active participation.
Therefore, in this post I’ll bounce off some smart passive income ideas to convince you regarding why you should invest in passive income means.
If this sounds interesting, then keep on reading.
What does Passive Income mean?
Passive income basically is money that is generated through work or content that is already finished and doesn’t require active participation.
For example, an author receives royalties from books they have published, and each time a sale occurs they get a percentage depending on their contract. In contrast, a 9-5 job or business requires active participation from individuals to generate an income and once you stop working, you stop earning.
Passive income is also generated by investing in stock, digital currency or becoming a silent partner in a business – although that depends on how well that business is doing. As you can see there are many benefits of having different streams of passive income.
Not only does it provide you financial independency but also allows you to pursue creative passions and dreams, that would otherwise by hindered by responsibilities and liabilities involved with being a white collar or blue collar worker.
There are many streams that can become passive income investments and can give you many long term benefits as well. The team and myself at Label & Mint have worked with multiple clients to help create content to be used to generate passive income, and many of our clients have seen positive outcomes in terms of their investment.
I bet you want to know now how to start generating income without having to work 24/7, well check out these ideas.
4 Proven Passive Income Streams for 2021
Start your own blog today and generate passive income through affiliate marketing (explained further down below) and AdSense revenue. If you love to write and feel like you have valuable opinions on a particular subject, then starting a blog and creating content consistently will help you generate income.
Of course, one of the most important ways to make sure your blogs works for you is by incorporating Search Engine Optimisation (SEO) keywords that will help rank your website on Google’s first page, and make sure your site gets more clicks. But the key for more traffic is being active and posting consistently.
Label & Mint provides content writing services including content for websites of different categories, social media platforms and other relevant copy niches. So if you need the content to start generating passive income from your blog, you know who to call (its Label & Mint).
2. Write E-books
Another great way to generate passive income in 2021 is to write short e-books about topics that interest you whether fiction or non-fiction. Now is the time to pull out all those ideas and debates you had with your friends where you would pull out research to back your arguments, and write an e-book between 5000 – 15,000 words.
And don’t worry if you feel like you don’t have a topic or niche to write in. nowadays, many people are creating “no content” e-books such as coloring books where you can create design outlines if you’re an illustrator or commission someone to do it. Similarly, journals with outlined pages and motivational quotes are another great way to generate e-books where users can enter their daily tasks, goals and read motivational quotes.
Designing a format for e-books requires some designing skills which in case you’re not fully confident about, then our Label & Mint’s design team will create an e-book which you might be tempted to buy for yourself.
3. Create online courses for things you’re good at
Nowadays a lot of people are turning towards online learning platforms to learn skills or take short courses to become more competent in a certain domain. Similarly, not every course has to be technical, there are courses for literally anything and everything. You can teach both soft skills such as how to be effective at communication, presentation or hard skills such as coding, writing and more.
There are even online courses for knitting and cooking, so if you think your cooking skills are Masterchef worthy, why not teach other people your tips and tricks.
4. Affiliate marketing
One of the easiest way of generating passive income is through affiliate marketing with brands such as Amazon, Book Depository etc where you receive a small commission each time someone uses your affiliate code or link. There are a lot of platforms you can use to generate passive income from affiliate marketing and it is quite an easy way of earning money if you already have a sizeable income.
As you can see from the 4 smart passive income ideas, earning money while not actively working isn’t something farfetched or just a dream, but an executable idea. If you need more help setting up different streams for generating passive income, then Label & Mint’s team can help you identify your strong points and monetize them for passive income. It really is that simple and all you need to do is contact us to setup a meeting.