What is passive income? Before moving on to some of the best ideas for generating passive income that will automatically earn you profits, it is important that we understand what this concept is specifically about.
It is very likely that you will find countless articles on the internet that speak of hundreds of ideas of passive income, either digitally or in the real world. When a source of income is passive, it means that it requires little or no maintenance to keep the money flowing.
Now, this does not mean that you can ignore it or that you can forget about it.
1. Open a blog
The most important way to generate a passive income is to open a blog. Blogs can generate a lot of revenue, but it will not be fast. If you plan to start a blog, you need to understand that it will take a great deal of time and effort to make it succeed.
Regardless of your niche, as long as you have a clear understanding of things like search engine optimization, social media marketing and the ability to write quality content, you will be successful with your blog. Once you become famous, it gives you the platform and audience to generate other revenue sources promoting relevant products and / or services for your readers.
2. Write and publish an e-book
Another great way to generate a respectable amount of passive income is to write and publish an e-book.
Non-fiction books that help you educate your audience on topics such as digital marketing, business or any other area of development will sell much better than fiction books. Of course, fiction can earn you a lot of money, but it’s also a more competitive field if you’re not an established writer and do not have an armed fan base.
Use the Amazon Kindle Direct Publishing platform and publish e-books that meet an existing need in popular niches where you have a certain level of experience.
3. Develop an app
It may be that the gold mine of the apps is already running out, but you can still get a respectable revenue source if you develop the correct app.
4. Make tutorials on YouTube
YouTube is a great resource to earn a good amount of passive income. Although it is not easy and you need millions and millions of views to start generating a good revenue stream, YouTube offers a marketing path with a good relationship between efficiency and costs.