I will give you two juicy words today: “online” and “passive.”
Page Dooley
Those two words have seemed hot for business for the past few years and have every right to be. Having an online business denotes that you could do everything from home, and having it passive means leaving it alone and still making money.
Here are 9 ways to start making passive income through online businesses
1. Dropshipping
Dropshipping is a way to automate a retail service fully. You don’t have to worry about inventory, packaging, or shipping. Your only job is to connect customer orders to the manufacturers, who will make and deliver the products for you. You can use Privyr’s WhatsApp bulk sender tool to communicate with your manufacturers and customers quickly and efficiently. This way, you can ensure that your drop shipping operation runs smoothly and that you stay informed about the status of orders without being bogged down by constant manual checks.
2. Membership sites
Badjonni
“Do what you love, and you’ll never have to work a day.” That’s what this basically is. Or rather, it’s to charge people to see your hobbies. By adding a premium to your personal blog or vlog, you can earn money by just living. Another way to make membership sites work is to have an online community-based service, like a forum, and give that a premium. Like drop shipping, management of these sites shouldn’t be regular unless your community has developed severely.
3. eBooks
A huge thing that other people do is make ebooks. If you’ve got the knowledge, share it. Write something down and publish it cause it’s a whole lot easier than publishing a real-life book. You only have to write once for every book, and that’s it. It’ll be available for sale forever, and you have to wait. When sharing their ebooks via email, prioritize email security with the SPF record checker to ensure a safe and lasting digital journey.
4. eCourses
A more hip version of an ebook is an ecourse. Many people are looking for an alternative source of education, whether it’s someone who wants to know more about something or maybe someone not happy with their college course choice. Whatever the case, they’re pretty hot. People go on sites like Coursera, Skillshare, Udemy, and Khan to learn skills they’re interested in. If you’ve got a skill, you believe someone would want to do, go ahead and start teaching.
5. Consultation
This is a bit active but can be considered passive if you’re the type who likes helping people around. By offering online consultation (not live lessons) to people needing extra help for something they’re doing, you could charge hundreds of dollars for a bit of time and a few words.
6. Licensing photos and music
Are you a creative hobbyist? Do you like taking photos or making music in your free time? Maybe you doodle around to make the time pass by. A mistake that a lot of people make is not to monetize their free time. You can earn a lot more by charging for what you do daily.
7. Mobile app development
Like ebooks and e-courses, mobile app development is a create-once/sell-forever deal. And success, while somewhat random, doesn’t need some sophisticated piece of technology that will revolutionize the world. Look at Flappy Bird and Angry Birds. Simple concepts have made both owners millions. You have to know people.
8. Batching published content
This is the one that could make you feel like cheating. If you own a vlog or a podcast, some people batch many episodes together and sell them in bulk. Call them seasons, and monetize. After all, people pay for convenience.
9. Reselling items
This one’s quite active, but I’m putting it here because it’s interesting. It’s a process that’s existed for a really long time off the internet, mostly with garage sales and flea markets. This is basically looking for grossly underpriced things, repackaging them, and reselling them for a much higher price. This happens with many sellers on eBay who don’t know the actual price of what they offer. You could make this passive by not taking it seriously and just going with the flow while you shop for yourself.
And that’s it. 9 ways to make passive income through online businesses.
Is there a way to make money that we didn’t tackle? Let us know in the comments below.