How to earn passive income online?

How to earn passive income online?

Reading Time: 12 minutes

How are you spending your time in this lockdown period? I know you have already applied for subscription packs to watch your favorite web series you were planning to watch since a long time. You started watching your favorite movies on television. You installed games in your PC/mobile to kill time. You realized that it’s the best time to connect with your friends on a call.

If we try to change our perception, we will see that it’s the time we can redesign our lives. I am sure nobody will get this kind of opportunity again. So this time isn’t meant to be wasted. It’s a good time-pass to get indulged in beige watching, but if we put all our time in it, that will be a waste.

Soon the lockdown time will be over and we will be back to our daily routines, maintaining our work life balance.

Don’t be like a fool!! If people are watching movies, let them do that. If your friends are meeting on a video conferencing, ask them to excuse you during this lock down.

This is the time we can plan how to achieve our dreams, we can set our long term and short term goals. This is the time to start something of your own..

Something that can be recognized in future..

Something that brings a proud feeling when you tell about this to next generation in future.

It’s the time to start a side hassle along with the work you are doing right now be it a business, service or freelancing. Let’s utilize this time. I will tell you top 10 ways you can start a side hassle of your own from your home desk and earn money from it. These ideas are thoroughly researched and being implemented by many persons online, and they are earning money from it.

10. Branded online account

It’s an idea where you make a branded account on Instagram, Snapchat, TikTok or Facebook. The account can be a fan page which shows content like the latest updates from a Bollywood / Hollywood actor or actress’ reel or real life. It can be about a shoe brand fan, where you can upload content related to shoes. It can be a ‘meme’ page which can show the original memes about latest news, movie or general knowledge. The advantage of this account is, increasing the trust in followers as a content of their favorite and popular brand is being shown to them. In future this can be changed to a business account and can be monetized.

Pros :

No technical knowledge is needed. These accounts attract a large amount of people thereby increasing followers rapidly. 

Cons :

It may take a long time for a person to get sufficient followers so as to start earning from it.

A regular content should be posted so that the social media bots don’t kick this account out of their search results page.

Usually fan accounts are subject to reviews many times. And authorities always keep an eye on these kind of accounts to check any suspicious activity and if any wrong / false info is published on these pages or even if somebody report this account or any content inside it, it can lead to suspension of the account.

9. Buy offline and sell online

It’s a kind of e-commerce business where you will have to buy products offline. It’s a big game where you make a landing page or e-commerce website of your own just like Myntra, Flipkart and sell products online. I will tell you what most of people are doing nowadays. You will have to register your business with government first, then a shopify plan should be purchased so that you can manage the e-commerce business. The idea is to sell unique products online that people don’t get it online. You can sell products like village made clothes, homemade chocolates, artistic painting, vintage glasses and many more. I have seen people selling Indian products like these in US or UK market through their e-commerce website.

Pros:

If the product is been trusted and user experience is very good then, the revenue multiplies rapidly.

You can check the physical product first while you buy offline. This will make sure the product is not defected.

No need to pay commissions to any mediator, as you are the owner of the product on your portal.

You will have your own customer base.

Cons:

It calls for a huge investment of money and time. You need a shopify subscription, good camera for clicking pics of products, a good hosting plan and a small dedicated team to support 24×7.

Site maintenance is very high as it’s an e-commerce site, it will surely lead to bugs. You have to hire someone to fix those bugs otherwise your customer base would be affected.

You have to keep separate budget for marketing like using social media ads to promote your site.

You may need to keep a stock of your inventories.

You will have to physically buy the product first. You will have to deal with the product returns or any complaints.

8. Copy-writing or Freelance writing

Writing is a very popular skill-set, which can fetch you extra bugs. By writing, here I don’t mean writing for your own, we can write for others too. You can take writing assignments from all over the world and become a brand. There are many startups, small scale industries, digital marketing companies and other companies that require content writers because it is the content that matters. Their business stands entirely on the content they show on their site. There is a huge demand for writers who can write product descriptions for their site, who can write for a sale proposal who are also called as copywriters. So if you have zeal to beautifully carve your imagination, this job is for you. Apart from regular job, many companies are there which lists writing assignments on freelance portals and they can pay you on per word basis for the write-up you give to them. If you are not so good at writing, build this skill-set from any learning site like udemy and start earning online. At a point when you are pro in writing skills, you can offer sponsored posts to the companies and earn more.

Pros :

There are very less people who have a regular job as a writer. So anyone can take it as a freelancer and earn handsome amount.

You will become a brand and can earn in future by recommendations.

With the advancement of internet and more fresh content being generated, this sector has a huge demand and budding writers can take advantage of it.

Cons :

The amount paid by companies is less in some cases as every company fix a budget for these writing assignments.

The payment terms are different for different assignments. Timelines may be very strict in some cases and they can reject your work if there is a slight mistake.

7. Write a book

Writing a book is a best way you can reach people. This is something by which you can share your knowledge / thoughts / imagination with the rest of the world and earn money. There are people who have many thoughts running in their minds which can be penned down in a book. A book is not only written by research scholars, highly skilled people or subject matter experts. A book can just be a story book or a part of fiction. We are living in an era where writing and publishing a book is very easy. Thanks to digital marketing and publishing industry.

Pros :

Make you a brand. Earn good income if sales are high. If you combine it with your own product or service you offer then you can generate double income through your book.

If the content is unique then you can earn a good amount of money as sales will automatically go high.

Cons :

The printing cost is high if you go for a good quality book like hard back and Matt finish which can increase the cost of the book. And people don’t buy costly books if the content is not of their interest.

A proper marketing is to be done for the book so as to increase sales and earn a good amount of money.

Some publishing houses keep the royalty rights to themselves, making you deprive of any royalty benefits in future.

6. List your services what you are good at

Everybody is born with some talent and how will it sound if you get paid for your talent? You can use your expertise to provide services to some small businesses or other professionals who can be benefited. In this way you can earn good revenue by providing your self-designed professional services. This is also a main source of income for many people these days. You can earn income by providing services like content writing, logo making, art and craft, greeting card making, video editing, data entry, book covers, email writing, voice over, coding, product marketing, SEO configuration, social media reach and many more. Many portals are there in market which let you join them as a service provider. Fiverr is the most popular. Other popular portals are upwork and freelancer.

Pros :

You will emerge as a brand. You will become a professional in your field.

You have the advantage of working at your comfort level irrespective of the place you are working from.

There is no limit how much you earn. If you are really good in your service, people will be ready to pay you more.

Cons :

Every client you serve may be linked with a commission which you have to give to the portal.

In some cases, for some skills like software coding assignments, you may require to build a team before taking work from client.

You can face a big competition on these sites as the service providers are increasing day by day.

Again, the time taken to fetch your first assignment is entirely based on your profile score, prices you offer and experience you have. One need to focus on these before listing their gigs on portals.

5. Dropshipping

Drop-shipping will always remain in top 10 ways to earn money online. It’s a way you can buy online and sell online. People are nowadays buying from e-commerce sites outside India like eBay and Alibaba, and selling on Flipkart or Amazon. It is the best second source of income if you have basic e-commerce knowledge. You can buy a product online which is latest or hot in market and sell it on Indian e-commerce portals. All you have to do is to register as a seller on e-commerce sites like Amazon and after approval and legal formalities, you can start selling. Though you have to pay commission to them but here the investment on the business in terms of time and money is comparably low. I will make a separate blog post on how to start and achieve success in drop-shipping.

Pros:

No physical stocking of products required.

It can be started with zero investment.

No pains for marketing, site hosting, logo making or bug fixing.

No maintenance is needed.

Cons:

Competition is very high as same product can also be sold by other sellers on the portal you are selling. So the product should have competitive prices, and hence you have to work on low margins.

You have to give commissions to the site who is selling products say Amazon.

You have no control over the customers purchased your products. You don’t have your own customer base.

4. Affiliate marketing

It’s a perfect way to make money while you sleep. The idea behind it is that you promote other people’s products or services, often through an affiliate network, or a landing page earning a commission if people actually end up buying.

It’s based on revenue sharing. If you have a product and want to sell more, you can offer promoters a financial incentive through an affiliate program. If you have no product of your own and want to make money, then you can promote somebody else’s product that you feel has value and earn an income from it as an affiliate marketer. It was number one method to earn money online some years ago, and now also it is, but the competition has now increased to a large. A large amount of big brands like Amazon (its program is Amazon affiliates) is offering its affiliate programs through which you can get a product’s URL and can use them in your landing pages or blogs so that your followers can buy that product which will give you commission. Other affiliate programs you can use are Google Adsense, Shareasale affiliates (shareasale.com), eBay partners, Shopify affiliates, Fiverr affiliates, Clickbank affiliates, Commission junction, Bluehost affiliate program and many more.

Pros :

No expertise needed. Low investment. Just apply on their portals and get the access.

Good revenue from sales if the product is very good and sales is high.

Managing customer related issues is not your concern.

Cons :

You need to have a landing page or a blog of your own. Also, a thorough knowledge of affiliate marketing is needed to be a successful affiliate marketer.

For some affiliate programs it takes a long time from getting approved to the actual setup.

Performance based income. You need to work hard to get your leads and sales.

You can’t establish your customer base.

No one promises that working as an affiliate marketer will be easy and that you are going to earn the expected revenue right away. 

A large competition is seen here. It can happen that same product is being sold by other affiliate marketer.

3. Online coaching – Provide subject matter based info

Gone are the days when teaching had a very low earning potential. Today, coaching online is considered as the best profession having very high earning potential. If you are really good at something and you have the art to share your knowledge by means of public speaking, writing or through social media, then this idea is for you. You have to first emerge as a subject matter expert in your field through public speaking or some other offline mode. Your achievements will speak to your audience. When you are expert in your field, then you have to start building audience on social media. You can reach a lot of people through social media ads. And now you can start coaching online, where people will see you as a pro. You can use skype and zoom applications to connect with your audience when you conduct online sessions. You can prepare an online course or an eBook too. You can charge a sum of money for the coaching you offer to them. You can launch your own content packages on your site and sell them to your audience.

Pros :

You will emerge as a bigger brand here. People will not only recognize your work, but your voice and personality too.

This profession is highly scalable. You can earn more by taking offline speaking/coaching assignments also by tying up with schools, colleges or other organizations.

Cons :

You may have to invest some money initially so as to launch yourself a coach.

You have to invest in yourself first, your body language, fitness and your behavior because these are the things that matter in this profession.

2. Social media influencer

Social media influencers are those people who have a purported expert level of knowledge or social influence in their field. And given they are experts in their field; they share their knowledge with the world through social media and influence them. They have an access to a large audience and can persuade others by virtue of their authenticity and reach.

You can also be an influencer on social media sites like YouTube, Instagram, Facebook and even TikTok. I would like to add new joiners here like – vmate, Nojoto, Like and Helo. You can start by making a normal account on Instagram or a page on Facebook which can be about your interest or what you are passionate about. All you have to do is to generate useful content, very useful content that can be shared on social media by means of a short video, descriptive video, banner image or an eBook. There is no need of professional stuff like good cameras, mic and lightning equipment. You can start this at your comfort of your home and shoot a video from a decent mobile camera too. The pillar in this case is only your content. Good content bring you good money. Give value to others, and you shall be paid. Simple as that.

Pros :

Here too, you will emerge as a bigger brand here too. People will not only recognize your content you provide, but your voice and personality too.

You will have to regularly post your content so as to serve your followers.

This profession is highly scalable. You can earn more by taking offline assignments related to the content you provide on social media.

You don’t have to focus hard on your presentation. Your content should be good and informative that’s it.

This is a zero investment idea. No need to buy any professional tools initially.

Cons :

The copied content nowadays don’t get any attention nowadays. Audience is not a fool. And it’s really tough to create content regularly and generate real followers.

You need to be a pro and gather a decent knowledge about your content that you are sharing with world.

You may need to invest some money on social media advertisements.

1 Blogging

Blogging is the most popular method to earn money online. Blogging has the potential to make you, your work and your blog itself a brand. A blog is a discussion or informational website published on internet consisting of discrete, formal or may be informal diary style text entries. Posts on the blog usually displayed in reverse chronological order, so that most recent post appears first. Your blog can be a personal diary, a project collaboration tool, a guide, or any means of communicating and publishing information on the web. Writing on the blog referred to as blogging.

You can start your own blog which can be about your profession or can be about the passion you follow. To start with, you can register your blog on WordPress.com or Blogspot.com or any other blog sites. You can start as a free blog, and later you can go for a paid personal domain if it started attracting the visitors. By blogging, you can be a leader in the profession you are in, if you are blogging about the work you do. The main source of income in blogging is to monetize it by running Google Ads or include affiliate links in your content. You can sell your own or somebody else’s digital products like eBooks, online courses or apps. If you are a business owner, then you can use it as a content marketing tool for your business. You can also use it as a portfolio, so that anybody can see your experience and skills you have so that you can be hired.

Pros :

People like to read good content nowadays, so blogging is a good option to reach a large audience.

Blogging will create an authority and you will be a brand.

Once people start reading and liking your blog, you can do paid promotions on blog. Later on you can use Quora to fetch traffic to your blog..

You are the owner of your content.

People can buy from your blog, or you can get opportunity to sponsor a post on their blog.

Cons :

Blogging also require complete dedication in terms of time, effort and money.

There is a cut throat competition in this field. There are many blogs on a single topic, so it’s difficult to get traffic on your blog.

You need to have some knowledge on digital marketing if you own a blog, as you need to place your blog on first page of Google search.

I always try to serve my readers with more useful content on motivation, life myths and technology tips and tricks. Hope you find this post useful. Type your comments below to show how much you like the post. You may also ask a question in comments below.

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Keep reading and admiring.

Alok Kundnani

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