Creating passive income streams has never been easier than it is today and practically anyone can do it. You don’t even need to invest your money in order to get started, because the methods I’m about to share is free and anyone can sign up for it.
However I want you to know that although the income will be passive with little upkeep, you will still have to work in order to set everything up. But the beautiful thing with passive income is that you only have to do the work once, and then you can collect the profits for a long time ahead. So in this video I show you 10 ways to create passive income streams without investing your money.
Sell someone else’s products
1. Amazon Affiliate marketing
This is one of the most popular ways to generate passive income, because it’s so damn easy. A few ideas I got for this video was through practical psychology’s book on the subject, it’s called Passive Income: How to Make Money Online using Evergreen Content.
It’s a great read and you can get it for 3.74 on Amazon.
That right there is me marketing someone else’s product and if you decide to click that link and buy his book, I will get a 5-10 % commission of that sell from amazon. The great thing with amazon is that if someone clicks your link and decides to buy 5 other things, you will get commission for that as well and this will work to your advantage for the next 24 hours.
It’s completely free to sign up and the payment from amazon will normally be paid out 60 days after the purchase. You can choose to be paid through amazon directly to your amazon account and you can buy amazon products from your earnings. You can also be paid to a regular bank account, however this option is only viable if you’re a U.S citizen as for now. And the third option is through checks, which is the only option if you live outside the U.S and don’t want all your earnings to go to your amazon account.
Clickbank is similar to amazon affiliate, however the commission rate is way higher and goes up to 75 %. Clickbank doesn’t focus on physical products but digital ones such as courses and tutorials.
The profit per sale is outstanding and you can earn hundreds of dollars just through a single sale through your affiliate link. They offer a wide range of products from mastering your boat building to mastering relationships. Because we all want to know Why Your Spouse Is Lying To You About The Reasons They Want A Divorce….
They also have more traditional courses such as business, fitness and self help that will most likely suit your niche and it’s completely free to sign up.
Selling someone else’s product is a simple way to create a solid passive income stream, but you have to put down some work to link the products and courses. You haven’t done any work creating a product, You’re simply just a middleman who markets that product. This is a win-win-win situation. The creator of the product will make a profit, the medium whether it be amazon or clickbank or any other platform for that matter will also make a profit, and you will make a profit.
Sell or monetize your own creations.
Creating your own products will not necessarily cost you any money, however you will have to spend time and energy creating something worth selling or monetizing. The beautiful thing here is that you put the initial work in once, and then you can generate a passive income stream when your done.
Get that camera out and start snapping some pictures because there are loads of money to made if you get a good shot or two. There are many sites that accepts good quality images and every time someone downloads your image, you will earn money. The most popular sites are shutterstock, iStockphoto and Alamy. Shutterstock currently serves customers from more than 150 countries and has paid over $500 million to the people who have contributed with images. One single photo could be sold over and over creating a comfortable passive income. Customers are constantly searching for authentic images in high definition. Cityscapes, families and landmark tends to get most traction.
Teespring allows you to sell physical products and create your own brand or logo to put on them. The most popular items are t-shirts and hoodies but you can also put your logo on other things such as mugs and phone cases.
They empower people to design and sell custom products with no cost, risk or hassle. It’s free to use and you earn money through selling the products you have designed, and teespring will take a cut of that. So when you create a Teespring campaign you are asked to choose a selling price for your products; the selling price is a combination of the base cost and the profit you want to earn per item. When an item is sold you get to keep the profit. For example, the base cost of a t-shirt is $10 and your selling price is $24; when a shirt from your campaign is sold you will earn $14. Once a campaign ends you can request payment through your Teespring account.
You can now become an author even without any hefty education or having your previous work published in some fancy magazine. If you have the ability to jot down some engaging sentences and turn them into a few pages, you could publish that as an ebook.
The most popular way to publish an ebook is through Amazon Kindle Direct Publishing (KDP). It only takes 5 minutes to publish the book and and it will be available all around the world within 24-28 hours. Maybe you have some old school project that you’re proud of that might be of value to a lot of people. Slap the dust of that, sharpen it up a bit and you could be on your way to become a published author.
To publish an ebook through KDP is completely free and you will earn royalties on your sales. Amazon will typically take 70 % of the profit if you decide to price your book between $2.99 – $9.99 dollars. However if you price it below or above that, they will only take 35 %. This means you will earn more by pricing your book at $1.99 than at $2.99 and you’re also likely to sell more copies because people will see it as a bargain. You could also enroll in the the Kindle Unlimited program. Then subscribers who pay a monthly fee can read as many ebooks as they’d like, and you will earn for every page the swipe through.
Starting a blog will actually cost you some money but I don’t count these costs a as big investments. You need to pay to get a domain name which will cost you around $10 dollars a year to own, and you will also need a host that stores all information, which is roughly $10 dollars a month depending on which web host you decide to go with.
Having your own blog creates a whole bunch of opportunities to create streams of passive income. You will be much more likely to have successful blog if you write about something you really enjoy, and that isn’t already too saturated. Posting regularly and over time is what will create a following, and it will not happen overnight.
When you’ve created a blog, the next step is to monetize it. Ads are one of the easiest ways to do so and virtually anyone can sign up for Google’s AdSense program. When someone visits your blog and decides to click on an add, or sometimes only sees the ad, you will make a profit. However you will only make a few cents per click or view but with a lot of traffic it will add up.
A better form of ads is to approach potential partners and have them buy ad space on your site. If you’ve got your niche right and have enough traffic, you will be able to offer companies valuable space on your site which they will have a hard time turning down.
A blog is also a great space to recommend products and services through affiliate marketing.
7. Online courses
Now you’re on the other end of the Clickbank affiliate, and you’re creating the courses. Creating a course takes a lot of time but if you manage to get through it, there is a high chance of gold being on the end of it.
You put your price on the course so the potential earnings are limitless, and as you know by now, people will market your product for you and you can sit back and watch the profits stream in. There are many sites that allows you to create courses such as Teachable, Skillshare and Udemy.
Courses usually include videos, ebooks, or other platforms that lets you explain solutions to their problems or fill their needs. Customers sign up to purchase the course and your system automatically emails them everything they need to access the materials.
8. Envato market
You might want to check out Envato if you’re a creative person and skilled with different softwares, making music, or videos. You can create templates for wordpress sites through Envato’s Themeforest, and every time someone decides to go with your creations you will get paid. If you’re skilled with creating music, upload some sick tunes to Audiojungle and you will create a passive income stream if people buy your tunes.
Even if you don’t have the skills right now, it’s possible to develop them. Envato Tuts has loads of great courses that teach you how to make WordPress themes, Photoshop actions and so on, and it’s all for free.
9. YouTube videos
Youtube is a great way to create passive income, but it requires a lot of time and commitment. Every time someone watches one of your videos, ads can appear on the sides of the videos, before the video starts or sometimes in the middle of a video. These ads is what will make you earn money, and sometimes people don’t even need to click on them and you will still make a profit from it.
You will also have to be aware about the policies and terms and conditions so you don’t violate anything to get your channel banned. It’s also easy to to have your videos demonetized if you put someone else’s content in your videos and they make a copyright claim on it. This means you will no longer get paid, but all the adsense will goes to the one who owns the copyright.
If you’re serious about starting a youtube channel and you want to really get a head start, I suggest you get Clark Kegley’s course on how to do just that. He’s an experienced YouTuber who has had great success lately after much trial and error. He talks about mistakes you need to avoid and what to focus on so that you will generate a great source of income. I will leave a link for it in the description.
A quick tip is to aim for evergreen content to secure a long-term passive income. Evergreen content is something that will be as relevant today as it is 10 years from now, such as how to lose weight. While skyscraper content might give you a lot of views in the short term but will die out pretty quickly, such as Tiger Woods 2007 best shots.
Clickbank link to Clark Kegley’s Video Breakthrough Academy:
And the last source I will talk about is Patreon. So assuming you have some kind of following and people appreciate what you do, you can set up a Patreon account and let your followers donate to you on a subscription basis. Your followers can decide how much they want to donate to you. And over $150 million dollars have been sent to creators to this day, which shows you the potential there is to make a great source of passive income. However to show your appreciation for your Patreons, you will have to give them something back, such as exclusive content or a behind the scenes stuff.
So there you have it, 10 ways to create passive income streams online. Make the most of these tips and you will get closer to reach financial freedom.