PASSIVE INCOME is a situation whereby you establish an online business which you don’t need to work on it time to time and you will keep generating revenues
You work once & work run on its own and generate you some money.
However, you are to maintain it in order to keep you receiving money.
For Example, you have an online marketplace that you have established a long time ago. And you haven’t go to visit it. But your products will still sell and money keeps flowing to your account.
Create A Web/Mobile App or Computer Software
People who use the Internet, Phone and Computers need to interact with apps to enable them to run some tasks.
Creating Web apps such as Form, Google Docs, Live Chat Apps (API powered), etc and market them
Also, if you are a computer software developer you can create software. And the same thing is applicable to mobile apps developers.
If you aren’t a developer you are welcome. What you will have to do is this;
Go and make a research about the app or software that will best suit your marketing desire, knowledge & capability.
For Instance, you use a mobile phone and you had like to create an app for a mobile phone that will make you money.
You should make research on what app will best solve people’s challenges, common problems people need to bypass and others.
Then you hire a developer and a designer to develop the app for you. After creating the app you can publish it on google play store and monetize it.
You can monetize it in different ways. You can choose to monetize it by integrating Admob ads code to display ads, Locking some features and ask the users to buy it, allow subscription purchase of features in your app and more other strategies that can work for you.
Remember to know much about what you are doing. Adapt different marketing strategies to boost your earning.
Also, the same thing is applicable to web apps and computer software. You can search for the best place to market your web apps and computer software.
Running ads to promote your apps will easily get you, buyers / users, earlier.
And generate your money.
Write & Sell An eBook
Thinking of writing an eBook and sell is a very good idea of passive income. If you are a creative writer, you can just sit down, write something very interesting and try to solve peoples’ challenges with your eBook.
Or, you can hire a writer to write an eBook for you and pay him.
After writing your eBook you can sell them on an online store like Amazon by hosting your own vendor.
Also, you can promote them if you have a website/blog, offer affiliate promotion with other people and give them a commission when they assist you with each sale.
Also, running ads can get to generate your sales faster. I wrote an ebook that I published and promoted it with different strategies. I even offer a coupon for a discount to buyers within a short time.
Now, my eBook is still generating me money while I sleep at home. No need to work anymore.
You can research more about this including how to write an eBook and
Create YouTube Videos
Today YouTue is the second-largest search engine in the world.
People are following YouTube to search for videos that get what they want.
You should also use the opportunity to make money (passive income).
How you can make money with YouTube is this;
Create a channel and publish videos to your channel, then people will come to watch it.
Those people who come to watch your videos are where your opportunity of making money stays.
You can monetize your YouTube channel with Google Adsense or promote people’s products, services with videos.
Optionally, you should continue publishing videos to have much content that will attract people to watch your videos and make money.