Do you want a new way of generating income? Generating a passive income, for example, so that you do not always have to work an hourly invoice as an entrepreneur or generate an extra income online in addition to your current job. There are many reasons why it is smart to delve into generating an online income.
Why Would You Want to Generate Passive Income?
Today, work-life balance is becoming increasingly important for many people. It used to be normal to work 5 days a week and preferably days of 9-10 hours. Now you see that balance is much more important. Many people choose to work less one day a week and place online bets (الرهانات على الانترنت) on their favorite teams, for example.
But if you still want to keep your income, working less is not an option, of course. Especially not in times of inflation. What you can do is immerse yourself in other ways of generating income, such as passive income. This is often a flow of money that you earn with online business. This can be done in various ways.
What is a Passive Income?
First, let’s talk about passive income. What is that anyway? There are still misunderstandings about it. Like, for example, that you don’t have to work there. A passive income is very nice, but it does not mean that you never have to work for it. I’d like to explain it to you.
If you want to earn money, you can’t do that without doing something for it. Earning some extra pocket money or building up a full income through passive income, that is possible. But you will have to work for it. Your way of working is very different from what you are used to when working as an employee.
You can work in or on your company to create a passive income when it suits you. So you really do put in hours (especially in the beginning) to set up your company and keep it running. The great feeling of freedom and balance lies in the fact that you can organize your hours yourself and that you also earn money while lying on the beach, with your family or doing your hobby, for example.
Ways of Generating Passive Income
The methods below are ‘the tip of the iceberg’ when it comes to methods to generate passive income.
- Start a Blog; a Way of Creating Passive Income that Is Familiar to Me
Setting up a blog does not cost a lot of money, but it does cost a lot of time. It’s not strange that you have to invest years in your blog -especially if you can’t invest a lot of money- before you can finally make a living from it.
- Generate Passive Income From Affiliate Marketing
Affiliate marketing is a great way to passively earn money.
In short, affiliate marketing basically means that you receive a certain commission if someone places an order from your website with a company that you link to. I’ll give you an example.
Suppose I link in this article to Amazon or Alibaba and use an affiliate link for that. If you click on this and you order something online, I will receive a small commission. This is usually about 5-7% of the purchase price. You don’t pay anything extra for this of course, I get that commission from the shops in question.
With affiliate marketing you can therefore generate passive income because others buy something from certain stores via your website. This can be done via a blog, for example if someone writes a review about a product.
- Create a Passive Income by Renting Out Real Estate
A completely different way of creating passive income is by renting out real estate. Think of renting out a house to a family or renting out student rooms in the cities where universities are located.
This is a great way of generating passive income that can generate quite a bit of money each month. Don’t have the money to invest in real estate? Then look at the options for borrowing money in the form of a rental mortgage, for example.
- Invest in Vacation Opportunities
Similar to investing in real estate is investing in vacation opportunities. By this I mean, for example, renting out a holiday home. But also on renting out a motorhome that you own, for example. As we speak, we are also looking at the options for purchasing and renting a bus camper.
- Generating Passive Income From NFTs & the Bitcoin Market
I think that this possibility also belongs in the list of generating passive income. Even though we all know by now that this is not without risks. You can lose everything you invest in this if you don’t know what you’re doing. And even if you do know.
I would certainly not recommend this option to everyone, especially if you can’t afford the potential loss. But the fact remains that it is a way to build passive capital.
- Set Up & Sell Online Courses
Are you an expert on a particular subject? Then it might be an idea that you set up an online course for this. If you believe that you can provide added value on a certain subject, this is also a way to build a passive income.
By selling your online courses you can generate an income with every sale. Certainly passive, you make that course once and then you receive money from your student with every purchase.
- ‘Becoming’ an Influencer
This may sound a lot easier than it is. An influencer also has to work for his or her money, don’t forget that. In addition, it takes you quite some time to build up a fan base who see you as an influencer, of course.
But once you are known and loved by your target group, this will be a solid basis for generating passive income. For example, think of a YouTube channel on which your videos are viewed a lot and from which your advertising generates income.
- Writing an Ebook for Passive Income
A completely different way to build a passive income is, for example, by writing e-books.
You can write e-books on all kinds of topics related to gaining knowledge – Someone wants to know more about affiliate marketing and you are good at it? Then you could write an e-book on this topic. If you sell that e-book, that is passive income.
But if you are a real writer – at heart – then writing a novel or a thriller in the form of an e-book might be more for you. Did you know that you can offer your e-books for sale on Kobo, for example?