Photo by Andrea Piacquadio Having passive income streams along with my freelance work and projects these past couple of years has been one of the best things that have happened to my financial health, mainly because it has allowed me to try out different hobbies and interests without the need to jump straight into a business or stop having a fixed income.
Many people are interested in trying entrepreneurship without the need to give up their regular jobs or make large investments (because they are not willing to take a big risk or simply can’t).
For this reason, here I bring you five passive income ideas that do not require you to invest money if you do not want to and that can help you obtain extra income. 1. Sell your experience on different knowledge platforms.
Time: 20–40 hours creating the product.
Potential earning: from $200 to 6 figures annually
When I started investing in the crypto and stock market, most of my friends were curious about how they could start. After saying the same thing over and over again, I decided to create a simple e-Book with the basics, and I put it on Gumroad .
One month later, I had 35 sales without even promoting it, just sending the link to friends who were curious about how to start investing.
Most of us have deep knowledge of something we do in our day-to-day that we can teach others, from a hobby that you are good at to how you earn money with your current career.
We are currently in the era of online knowledge. So most people are looking for ways to learn how to do something without going to an academy or university.
The advantage of online courses and products is that they allow others to learn something they need quickly and cheaper. So if you know how to do something, you can take advantage of this possibility on different platforms.
If you take the time to understand how to sell courses or create a good product, you can make from $200 a month to even $17,000 or more per month without initial investment, just with the knowledge and resource you currently have. 2. Content creation.
Time: 2–10 hours per week.
Potential earning: from $10 to 6 figures annually
Content creation is not only having a YouTube Channel or an Instagram account with many followers, showing your life, and acting like an “influencer.” Right now, there are many ways you can create content as a business without even having to expose your life , from Youtube without showing your face to blog posts, newsletters, and Instagram phrases.
As the definition says, according to adobe : A content creator is someone who creates entertaining or educational material to be expressed through any medium or channel. For businesses, content creation can mean crafting newsletters, emails, digital marketing materials, brochures, social media, articles, annual reports, advertorial, editorial, and company communications, and more. Mark Manson, the creator of “ the subtle art of not giving a f*ck, ” has sold over 13 million copies of his book. James Clear, the author of “ atomic habits,” has sold 5 million copies worldwide. Thanks to content creation, they first created their audience with their blogs and then move their readers to their newsletter and stores.
To start creating content, choose a platform: if you want to make videos, TikTok, Youtube, Facebook, etc. You have Medium, LinkedIn, and personal blogs if you want to write. If you want to make podcasts, you have Spotify or iTunes. Then start learning what content performs better there and how you can be the best on what you want to develop. 3. Publish on Amazon KDP.
Time: from +10 hours per week.
Potential earning: from $100 to 6 figures annually
Most people think that writing an e-Book is a process that takes years of hard work. However, Kristen Walters, in her article “How I Made $2,714 in My 2nd Month Publishing on Amazon KDP,” explains how she is making four figures monthly by publishing 10,000–25,000 words books.
The total royalties paid out to self-publishers on Amazon KDP are over $400 million , totaling more than $1.1 billion since the launch of Kindle Unlimited. 4. Affiliate marketing
Time: 2–5 hours per week. Potential earning: from $10 to 6 figures annuallyAffiliate marketing is still one of the best ways to make money online because of its simplicity. This business is getting paid to recommend and market products. You don’t need to have a big audience to start, and […]
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