How to Generate Passive Income
I think we have all wanted to make more money or at least be more comfortable in our daily lives so I thought today I would take the opportunity to highlight the following opportunities because they are basically the most straightforward picks that I can find.
These potential opportunities are the beginner-friendly way to start making passive income online. You may find that taking this time to read this article and by concentrating your efforts, that you might just stumble on the key to break the patterns that you are in, say if you have yet to make your first dollar online or you are feeling that you're overwhelmed.
If you are feeling this way then you really can't afford to ignore this article.
With the world changing so rapidly these days, this kind of dream where we can attempt to create passive income streams is that little more likely to become a reality, if we are happy to put in a little effort.
The idea of being able to sit with a laptop and with a little effort generate passive is something that given some time we can all do.
> You become financially free when your passive income exceeds your expenses. — T. Harv Eker
**YouTube** The internet being so readily available these days, we all have the opportunity to make the most of it and the opportunities that it present. Right now you're probably reading this with some worth thoughts of opportunities that you can act upon to meet your goals.
I want to help you as best I can by showing you the following methods that will basically allow you to pull your nose out of the books ton this topic and allow you to go forward with a clearer path of how to achieve your deserved outcome of having a truly passive income stream.
So the very first way to achieve a passive income is also the best option for those that are just starting out and if you have already guessed it then I will just come out and tell you, it is YouTube. Yep, you guessed it.
That website that you probably already have open on one of your tabs right now is one of the best ways to make a passive income and I would probably have to say it is the one that requires the least of you. I would have to say that this is probably my favourite opportunity out there at the moment and I think you would agree with me that it is the opportunity that people are having the most success with. I think it is the best because with a little effort you can also utilise the method to develop the offer opportunities that I will go through in a moment.
The thing with YouTube is that creating videos to upload to it really doesn't cost you much at all if anything, with the advent of camera phones the ability to upload content, has become available to anyone willing to try and guess what you can upload just about anything these days and still find some measure of success. Don't get me wrong, if you upload junk then you are likely to get junk in return if you even get that. Smartphones now have video camera's of such high quality that at least for the moment it is plenty for this purpose. There really is no risk to you taking the time to upload some videos, videos of you speaking about your favourite topic or even you showing people around your favourite locations (bring on that next holiday). Can you see just how awesome an opportunity like that is? You don't need to spend any money to start doing this in some shape or form and if you know how to make the right kind of videos in some of those trending topics then more power to you. The is practically no downside to this opportunity that I can think of. Just give it a go.
The concept of being able to upload a video of something you are passionate about really appeals to me namely because once it has been uploaded into YouTube, it will persist forever. People will be able to access it from ever they are and yep you guessed it, once you have set up your channel and properly monetised it you will continue to make money off of it for the foreseeable future.
Now keep in mind that monetising a Youtube channel is a bit more difficult now with the new guidelines requiring us to get reviewed after reaching 4,000 watch hours in the previous 12 months and 1,000 subscribers. So not super easy anymore but for those that find video blogging an interesting challenge it is still doable
Affiliate marketing
The second way is pretty damn cool too and that is affiliate marketing.
Affiliate marketing to put it simply, so what is affiliate marketing, well basically you become a little digital frontend to a product or service. You basically these things and the companies that own these things give you a percentage of the profit if a customer purchases that product through your digital frontend.
Say you have a website or as we previously went through, a YouTube channel. You leverage these by creating content to draw people in etc. and then when they click on your custom links and if they make a purchase, boom money in the bank and that is how you do affiliate marketing. I've definitely oversimplified it for the purposes of this article but will elaborate in future articles if you so wish. With very few skills and without any special credentials for marketing or web design, you can kickstart your money making powers over a weekend and even get away with using free website companies of the likes of Wix.
I'm not going to go through all of the companies that offer affiliate programs but to start you off I'd probably try something like Amazon Associates, where you basically join up and generate personalised links to the products of your choice and when someone clicks on those links, they will be earning you some cash.
Drop Shipping
The other option for generating a passive income source would have to be drop shipping. This option is another pretty awesome option and doesn't really require too much out of you. Drop shipping works pretty simply, where basically you have products that are either in China or somewhere that is pretty cheap as far as production costs etc. and you basically act as the middle person in the process, by connecting the buyer and their product with your customer base. The site to look into is Aliexpress where you will get access to a vast array of products that can be shipped around the world.
The logic of this one is pretty simple. What you are doing is essentially buy a product cheaply and then on selling it with your profit margin added. For example say you purchase something for $5 and then you sell it for $25, well then you get to keep the 20 bucks.
The best way to get into drop shipping is probably using Shopify because it is really easy for beginners. It allows you to set up a website which is basically a storefront and it will basically seamlessly integrate with Aliexpress once you have a little bit of know-how on the topic.
Now bear in mind that this option is not a freebie and it is going to cost some dosh as Shopify has a monthly fee of around $30 a month for the very basic option so if you aim to make more than $30 a month with this method which in my opinion you certainly could it is a definitely cool option for you.
The first month is free so that gives you a decent opportunity to get your site up and running and work out any kinks that might pop up. It will also allow you to work on the overall look and feel.
I hope that this article helps you with your future pathways and keep following as I explore other options for passive income as well as develop a hub around topics that mean something to me.