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Hi, everyone I’m Charan Deep, I want to talk about the 9 passive income ideas that you need to know if you want to start earning online. Now this is not going to be typical. I am going to give you step by step process that you need to follow if you want to actually make money from these sources. It’s going to be a little bit longer but I hope that you will get value from this one and that is all that I want. before we start I want to give you an honest definition of passive income.
Definition of passive income
Passive income is a way for you to make money in which first of all you build the product and then you can sell it multiple times without you having to do the same amount of work every single time that’s what passive income is all about. I’ll give you various examples throughout this video so that you can get more comfortable with this definition of passive income always remember that passive income does not mean that you do not have to do any work that is not what passive income is it’s all about building out the systems and they can pay out afterward even when you’re not working on it that’s what passive income is all about one of the best people to follow is pat flynn if you want to learn more about how to generate passive income for your career but moving on let’s talk about the first way for you to generate passive income and that is going to be
- Selling ebooks online
that’s one thing that I have done myself as well how do you start with this process. It’s very easy you do, first of all, think about an idea that you want to share with the world for me that was LinkedIn I have been using LinkedIn for the past year and I have had huge success with it I had gotten my podcast to guess with the help of LinkedIn. I got my clients from LinkedIn. I got to meet some amazing you know alumni and seniors from LinkedIn itself and so because of that I thought of sharing my knowledge in the form of a book.
I can write an eBook in which I tell people how to get clients from Linkedin, How to write an interactive Email, how to become an Influencer, and 7 lessons I wish I Knew as a teenager, whatever the idea is just write an eBook.
once that is done the next step for you is to actually publish it so that people can actually buy it easily from wherever they want to and the best way to actually do that is with the help of Amazon. Now Amazon has a service called amazon kindle direct publishing also called Amazon KDP the way this works is very simple you take your doc file of the book that you have uploaded on Amazon KDP once you’ve made your account and then you create a cover for it and once it is approved it is available on the amazon platform which is one of the biggest e-commerce platforms out there in the world this is the easiest way for you to get started with publishing your books. It is completely free they do not charge any money you can upload your eBook and people can buy it in the e-book format. They can buy it in the paperback format as well as in the hardcover format. How much do you get to keep? that’s a very important question so you get to keep about 50% of whatever Amazon makes from the eBook now the way this works is that you have to put out more than one or two eBooks for you to be actually successful as an eBook writer. So, what you do is think about all the things that you are passionate about it doesn’t need to be one like a skill. it could be a story that you want to write. It could be just anything that is interesting to you or if you are into you know maybe finance or even into motivation you can create books that talk about certain personalities or certain events there are tons of books you will find on Amazon that talk about you know 10 lessons I learned from warren buffet there’s a complete book that someone has wrote on that seven investing methodologies that you can try out in which they talk about all of the most successful investors in the world right now so there are tons of examples put your head into it so that’s the first way to make money with the help of eBooks
2. Selling your courses
always keep in mind that when you’re trying to teach something to someone make sure that you have a good understanding of how it works now there are some bad apples in this field as well as people who try to tell you that you can achieve this dream to live independently and you can make tons of money if you buy this particular course but generally speaking building a course and sharing your knowledge is a great thing overall. You can help people out you can charge a minimal fee and it will be an excellent thing for both of you so that’s basically what you need to keep in mind creating a course is not the problem. the problem is do you really have the expertise to talk on that matter if you do then that is very good so create a course in which you can share everything that you have now once it is created there are tons of platforms on which you can host the course
Once you create the course you can sell it multiple times to anyone out there so you spend let’s just say one complete 1 month on building out a master class type of course and you sell that to 10 000 people. Right, you can quickly see how this number adds up and how much you can actually make from it so you spend time once but then you earn multiple times build once sell twice okay always keep that in mind so this course always make sure that you have the authenticity and you actually have something to share and teach people.
3. Creating and selling your design templates
This could be through Canva so you can create a template for people to download for people to use and you can upload it on whatever platform that you want. you can upload it on platforms i.e. Fiverr, Redbubble, and Etsy you have so many of these platforms on which you can upload these you also have gum road if you want to sell these digital products and you can make money passively. So, the idea behind is that if you’re good at design or if you like to just you know just make something beautiful use that and make an actual template.
We have been reached out by tons of businesses they just tell us that hey, we don’t want your service right now we just wish to that template that you can create for us and that would be great for us that’s what they want. If you can just create a template for them. they’ll pay you really well because it’s a one-time purchase you can ask a lot more than you would if you were creating every thumbnail yourself there’s also something called as Canva create. which is going to be a marketplace where you can sell these templates that you create on Canva to everyone out there
4. Google Adsense
If you are good at writing or if you are good at creating videos generally in my particular experience what happens is that these videos get ranked in the search algorithm in the YouTube search for certain keywords for example if you just search for something like how to get Coursera courses something like that you will find that the first few videos are going to be from different channels. what that means is that video is ranking at the top for that particular keyword on YouTube itself because of that a ton of people will continue to watch these videos even after uploading it once on this platform they are doing really well money-wise.
once you get it searched once you get it ranked on Google search or YouTube search particularly. It will keep getting you that sweet ad revenue and that is another way for you to make money passively. I don’t have to work on it just recorded it once and put it out there for everyone and it keeps getting views and the ad revenue right there.
5. Selling your software and games
now there is just so much I can talk about this particular topic. Code is something that I am a huge proponent of for the past two to three years. I have promoted everyone out there to just learn to code once and see how it actually feels with the help of code you can build out games, you can build out software that you can launch online, and if it is actually good learn to actually market it. This is an amazing book called as make by peter levels. in which he’s talking about how to actually launch a project, website, an application yourself without the need to get any funding. how to acquire users and how to generate revenue with the help of that. So, it’s an amazing book that you should check out if you want to learn more about it in this book he basically talks about how you can actually start marketing it right so what sources can you use he talks about how to actually build software and then launch it just you working on that software and earning through that you’re a single person company basically that’s basically how that works you can sell your business you can sell your games you can install you know google ads and then you can earn revenue through that or you can also offer some in-app purchases and you can make money through that you will see a ton of apps on google play they might be on the top grossing chart and so if you can get your application in the top 100 list of google play then you will have a lot of potentials to get a ton of users and hence the revenue.
6. Stock footage
so, once you think that you have a great camera or you have a great phone and you can record some really nice shots and really enjoy photography you enjoy recording videos you can actually upload these on these platforms and people can actually buy it for particular scenarios. I know we have had scenarios in which we want very particular stock footage but it is just not available and because of that we have to settle for something less. we wish that there would have been more stock footage available so this is your opportunity to create more stock footage to create more you know videos or graphics or icons or whatever it is right logos and presentation templates or whatever it is that you can sell on platforms like Envato you can sell it on theme forest and there’s just a ton of marketplaces out there for you to sell these things so get into this thing learn about it and start exploring
7. Affiliate marketing
Now this is a broad field what I mean by that is you can do affiliate marketing in so many different ways. I’ll share my own experience I have seen a ton of these reels in which a person shows that there is an amazing gadget and this is what this gadget actually does in the caption of every single reel. they will always say link in bio to buy this product now if something is cool if something is viewed by millions of people out there you can be assured of getting a ton of sales so what you basically do is you drop ship all of the items and you find out what is it that is interesting make a reel out of that and then put it out on all of these platforms. you can do that on YouTube on Instagram and have the link for that that people can click on then they can just purchase it. there are some complications with this of course I’m not saying that this is the easiest thing to do but that’s what you have to do.
One more example is that you upload a funny dog short on YouTube and with that in the description you can put out the links of let’s just say some products that people can click on this is not the best way to make money. I am not saying that you will make thousands of dollars into this but there is a possibility that you can make money with the help of it. So, what you do is that you go on to clickbank.com sign in, and become an affiliate try to find out products, which have great reviews as well as a high commission for you. these could be courses that you can sell as an affiliate. these could also be physical products that you can sell so the list just goes on and on but this is one way in which you can do that there are tons of ways in which people make money with the help of affiliate marketing.
one more that I’m remembering is with the help of Quora if you just go on Qura and search for how to buy Bitcoin in Pakistan there will be a ton of answers and everyone will have some sort of a referral link alongside the answer, so when you click on that they get free you know engagement they get free eyeballs and people click on that and that is how they get to make money as well.
Now affiliate marketing I’m still not sure exactly how to properly monetize this if you do not have an audience it’s very easy for me to just say that they buy this great product I use it you can use it as well as link in bio or link in the description and there will be a ton of sales with the help that is easy for an influencer or a creator.
but for someone who is who does not have that audience how can they make money with affiliate marketing
if you know the answer let me know in the comment section.
8. Selling character designs
specifically, these are called sprites. So, every single character that you might see in a game. they have different movements and depending on those movements they will be having different sprites that they can create. these could be spreads for a character. these could be sprites for some particular object in a game. this could be sprites for pretty much anything out there. you can sell this complete bundle of assets on the Unity store and you can make money through that there are tons of ways in which you can sell these. There are a ton of platforms that allow you to actually sell these and you can make money with the help of doing so. this is very much similar to selling your eBooks just build it once and then you can start selling it on all of these other platforms. there are many game developers out there who are not good at design. so what they end up doing is just go on to these platforms and they end up buying all of these character sprites instead of making it themselves maybe because of time constraint maybe because they are just not good at design particularly so that’s where you come into place that’s how you can make money passively by just making it once and selling it multiple times.
9. Play-to-earn games
it’s a little bit new concept because we’re talking about the Web 3 and metaverse and stuff like that. So, the way this works is that platforms like Axie-infinity allow you to have this thing called a scholarship program. So, what you do here is that you come in as someone who has the money and you buy out the NFT-axies and once you have these axies you find out people who have a ton of time but they do not have the money that you do. So, what happens then is people from the third world or second world countries work with you together and they will be working on all of your accounts, and when they do that they get to keep about 40-50 % of the total sales and you get to keep the rest of that which is completely passive for you so this is another great way for you to generate passive income. if you’re interested let me know what you think about this method it’s a little bit new and I would want you to explore it and properly understand the risk involved before you actually go ahead and invest. I’m just giving you an example axie-infinity is just one of the many different play-to-earn games that you can start with but this is one of the most popular ones out there.
what opportunities will it open up for you you could also be selling NFTs that are also a great fit for you to make money passively. if you want to do that but I have actually seen a lot of designers who sell their NFTs and they end up making that passive revenue basically whenever someone sells you’re enough to do someone else you can decide how much percentage you want to keep maybe you want to keep 5% of the sale to you the artist that’s another way for you to make money but this is basically what I wanted to share with you
let me know what you think about this in the comments section I wanted to go deep into every one of these topics and give you real value right