In the age of the internet there are now many things people can do to make money online, and a lot of them don’t require you to have a university degree or any extraordinary skills.
Some examples include working as an online virtual assistant, transcription jobs, doing online surveys, or doing customer service for a company over the telephone at home. But all these jobs still require you to trade your time for money, and if you stop working, the cash stops flowing in. That’s not true freedom.
Passive income is where it’s at if you want TRUE freedom.
Passive income basically means income that you receive regularly and it takes very little work to maintain it. For example, if you own a house and you rent it out, you receive passive income from the renters every month. But if you don’t have enough money to invest in a property, this obviously won’t work.
But everyone has to start somewhere, and good news is there are still a few ways you can earn passive income online without a huge startup. So what is the best way to make a passive income online? I’ll share with you the 2 ways I know of to do this:
1. Blogging / Affiliate Marketing
Blogging is probably the best and most popular way to make a passive online income. The way bloggers make money is quite similar to how YouTubers make money, that is from the ads displayed on their websites/videos, and also from their promotion of various products and earning income from their affiliate links.
In my opinion this is probably the best way for newbies because it cost nearly nothing to get started, and your income potential has no limits.
To start a blog you just pick something you’re passionate about, something you’re interested in and can talk about it for many years to come. For example I love talking about making money online, that is why I created this site. I also have another website where I talk about the vegan diet and lifestyle (I’ve been a vegan for over 5 years.)
Wealthy Affiliate – The Best Training Platform
I was a complete newbie when I started, I didn’t know anything about making websites, blogging, affiliate marketing, or anything really. So about 11 months ago I came across something called Wealthy Affiliate, it’s basically a training platform that teaches you how to start your own blog and turn it into a successful business, one you can potentially turn into a full time living. They offer courses that teaches you step by step, classrooms to ask questions, 24/7 live chat, 1-on-1 coaching, and even a free 7-day membership for you to try out before you upgrade.
I’ve been a Wealthy Affiliate premium member for 11 months now and I’m so glad I found them. From their training I was able to learn the skills necessary to build 2 websites, generate traffic, and monetize my websites to create passive income. Although I’m not making a full time living yet, the income I am making is increasing every month, and I think in another year or so I should make enough to replace my current job, and I cannot wait to see that happen.
Once you’ve created a website, all you do is write a couple of new blog posts every week. You may write posts reviewing products in your blog’s niche and post affiliate links, when people click these links and buys something, you earn a commission. Or you may write informational posts where you write about tips and ideas. The key is consistency, the more you write you more traffic (visitors) you can bring to your website, and the more money you can make.
It Takes Time
One major downside to making money blogging is that it can take a very long time to see any results. If you get into blogging expecting to make thousands of dollars your first month, this will not work out for you.
Generally it takes anywhere from 6 months to a year to even start seeing any profits. But once it starts, it only gets better and better from there.
In your first 6 months you can expect a small trickle of visitors and profits. Then after a year or so you can expect a small consistent stream of visitors and profits. From there the small stream of visitors turns into a big waterfall of visitors, and eventually it will exponentially increase, and at one point your blog’s traffic and earnings will grow more in a month than what it took you a whole year to accumulate. But that first 6 months to a year is the most brutal, but if you stick with it, you will get there eventually.
Monetizing Your Blog
Once you have hundreds of blog posts and thousands of visitors coming to your blog everyday, you can monetize your blog in a variety of ways such as earning revenue via affiliate links, ads, creating your own products, offering coaching, email marketing…etc The key to having thousands of visitors coming to your blog everyday is to consistency create content (new posts) everyday. The more content you have, the more your stuff will show up on google, and the more people will land on your blog.
There are many people over at Wealthy Affiliate who started out like myself, a total beginner, and after a year or two of hard work and consistency is now making a comfortable living from their blogs. It is totally passive online income and it’s a dream come true to achieve that kind of freedom.
Imagine having thousands of people come to your blog everyday, reading your content, clicking your affiliate links and buying stuff, earning you passive income… and all you have to do to maintain that is by writing a few blog posts every week which can be done anywhere in the world with an internet connection!
If you’re looking for low start-up cost way to make passive income online that can potentially turn into a full time living, and you’re willing to work hard for at least a year or two, then check out Wealthy Affiliate now for the best training to get started.
2. Drop Shipping on Ebay
I’m sure most of you reading this know what Ebay is, it’s basically a huge online marketplace for people to sell things and buy things. You can buy or sell almost anything and everything. It’s a global site that has millions and millions of visitors every single day.
So how can you make money on Ebay?
You can sell things! But wait… don’t you need lots of capital to invest in inventory? Don’t you need warehouse space to store all your merchandise? Don’t you need a business degree and accounting knowledge? The answer is no, because you can do drop shipping on Ebay.
What’s Drop Shipping?
Drop shipping is basically a business model where you have a 3rd party supplier that you’re able to purchase an item from at a lower price, and they fulfill the order to your customer only after you’ve made a sale on Ebay. So let’s say you list a TV stand on Ebay for sale at $200 and it gets sold. Now you go to your supplier where you purchase it for $150 with the money you got from your Ebay customer, your supplier sends the item out to your customer’s address, and you get to keep the $50 price difference, that’s drop shipping!
But oh wait… how do you find a good supplier where you can get items for cheaper than what you sell it for? Is it even allowed on Ebay? Basically, it is very easy to find suppliers. There are no contracts involved, no setup costs, and anyone can do it. Think Walmart, Amazon, Sears, Target…etc. Yes, you can actually find items from major online retailers, and mark it up to sell on Ebay. I’m doing it myself right now and people actually do buy it at that marked up price!
Read More: How Does Drop Shipping Work on Ebay?
Drop Shipping Is a Number’s Game
Many successful drop shippers on Ebay have thousands of listings in their Ebay store. It should take you at least several months to find and post all those listings, but the great thing is you only have to do it one time. At the beginning you may have to spend a few hours everyday making Ebay listings, researching what products to sell, uploading pictures, writing descriptions, and all that stuff… but once you have like 5,000 items posted, all these listings will renew themselves automatically at the start of each month, and these items will continue generating sales for you and making you money.
It’s totally possible to make a full time income from 5,000 Ebay listings, or even less, it depends on the quality of those listings and how popular they are. I recommend you do some research on Ebay to find what items are selling really well, and try to find those same items from your supplier.
That’s it, once you have enough listings posted onto your Ebay store, you’re all set for passive income. The only work you’ll need to do daily is to process your customer’s orders, and answering any questions they may have via messages. Each order takes only a few minutes to fulfill, and it’s totally possible to earn a good living doing this only working a few hours a week!
If you have any questions or comments, please leave them down below. If you’ve enjoyed this post and found it useful, please share it with your friends on social media.
I’m a regular person who started this website in Sept 2017 to help people in making money online. I envision my own success from helping you become successful. My goal is to help you create a consistent online income, let’s make that money!