In the days that we are not allowed to leave the house due of Corona, it is the ideal to have a passive income. But how do you build a passive income. How do you build multiple income streams? I will tell you everything about my own passive income and how i would advise you to build your own!
What is a passive income?
The idea of a passive income is that you do the work at one time and reap the benefits. The most famous example is ofcourse writing a book. A writer works months in advance to create a book. When the book is published there is money to be made. The writer receives an amount for each sale. And even when he no longer works on it, he still receives money with it.
Nowadays it is quite easy to build a passive income in the online world. Everything falls on the automation, so you can start all kinds of processes, without having to sit behind the computer.
It is a way of making money where you first invest a lot of time in building up the possible income and only then start earning a lot.
The most common mistake made with a passive income is that people forget that it is really an investment to build a passive income. You have to make your products, but you also have to sell your products. You can also automate those processes, but you have to be sure that it works. So it really takes time to build it up.
7 ways to make a passive income
There are multiple ways to build your passive income. You can look at my own strategy on making money in this post. You will see that i use a lot of these strategies!
Affiliate marketing is a strategy that can be used in many different ways. You then earn money by promoting products. When people make a purchase via your personal link, you usually get a certain percentage of this purchase. Affiliate Marketing can be used on blogs, but can also be used on Pinterest.
Blogging is a way of generating passive income that also takes a lot of time. You have to set up an entire blog. If you really want to build a passive income, you have to start a blog in a niche. You have to make sure that you write informative blogs on a very specific topic and that people really search for this topic.
It was not without reason that the example i use in the beginning of this post, was that you can generate a passive income by writing a book. Nowadays it is quite easy to publish a book yourself by only selling it online. You can design it yourself in Canva or even with Google docs. You can host the sale on your own website and process the download link in your webshop. Once it’s written, you don’t have to worry about it anymore, except the promoting
Make money with Pinterest
You can easily build a passive income with Pinterest. The advantage of using affiliate marketing on Pinterest is that your pins stay on Pinterest. The number of links you have made will therefore only increase and the chances that you earn money with it will increase every day. The advantage of Pinterest is also that other people repin your pins. This makes Pinterest’s reach really like an oil slick.
I have made can online course about earning money through Pinterest. You can check that out over here.
The same goes for creating a course. A number of platforms arise that you can use to sell online courses. A platform such as teachable even arranges the payments for you. Depending on whether you use a paid or free version, you may make certain course parts available later. So you can, for example, sell a 7 week course.
If you do not want a separate digital learning environment, you can also give a course via email with your mail program. You could also fully automate this process.
Make money reading emails
There are a number of savings programs that allow you to earn money by reading emails. You then have to click on the links in that email and you will get some points. By collecting these points, you can easily earn extra pocket money without too much effort.
I know all about this in the Netherlands. I have been using this strategy since the beginning of 2005 and made hundreds of euro’s eversince. Just by clicking on links in emails.
Sell digital products
Nowadays there is nothing that you couldn’t sell. There are also a lot of digital products that you could sell through Etsy, for example.
- CV Designs
- Sticker designs
- Travel guides
- Branding Kits
- Logo design
- Canva templates
- Brushes for in Adobe
- Patterns for clothes
- Patterns for hugs
- Patterns for needlework
- Personalized Stationary
- Website designing
- Mock ups
- Vector designs
Everything is sellable. As long as you designe it well and do a proper promotion.
Are you going to start building a passive income? Which way are you going to use? Do you know any other ways?