Are you looking for different ways to start earning while you sleep? Are you trying to learn more about how to start making passive income? Do you want to implement different ideas to generate passive income for yourself? If yes, you came to the right place, we’re going to talk about many different ways that you can make passive income. And For or each of those, we’re going to talk about how hard it is to get started. How hard it is to make $100 a month from it? How hard it is to maintain once you’ve created the thing in the first place. Well, let’s go for it.
Doing a step-by-step tutorial on how to make passive income online and how complete beginners earn 100 to $700 a day with no experience more than after venture. We will break down the passive income machine that will help you generate money even while you sleep. It can bring you from $7.00 a day at starting stages and you can take it up to $300 in passive income. When most people look at people who are generally making passive income and a lot of it too, they think to themselves subconsciously that I could never do that, or they don’t even know where to start.
We will help you look out for everything you need to know about passive income. We will tell you exactly where you can start and what methods you can apply along the way to generate passive income and keep increasing it.
What Is Actually Passive Income?
Alright, so when we say passive income, there is really no such thing as passive income that you’re probably thinking about. There is no way to make money without doing anything at all. But when we say passive income, what we mean is that generating money is not directly tied to your time. So, let’s say you were to write a book. If you write a book, you publish a book. That book is now on the bookshelves. You’ve done the work once, which was to write and publish the book. But now anytime the book sells, you make money from royalties. That is passive income.
You could literally be making money while you sleep because you’ve created this thing that is out in the world which is generating income for you. The other thing about passive income is that it always takes a long time to get going. Passive money is to provide value in a way that is not directly tied to your time. So do not try a “we want to get rich quick” scheme that doesn’t exist. None of these things ever work. People always end up losing money. The only way to make money is by providing value. And so, let’s talk about the nine different ways that you could use to provide value if you want to.
Step-By-Step Tutorial To Start Making Passive Income:
The general problem with people who look at other successful marketers who are making passive income. Because they worked hard for it is that they think many things to themselves Like I’m not smart enough, I’m not confident enough, the thing about this is that it prevents most people from getting started.
The only way that people used to think that money could be made was by seeing how they and they’re like, if we want to make more money, we must trade more time for our money which is why they work 8 hours many people work more than that. They keep on wasting the precious hours that they cannot get back for money that they’ll spend to impress people and spend altogether without investing any, which will get them right back into the rat race.
What you want to do here is you need to make other people work for you and hire other people to do the work for you. Think to yourself, what are ways that I can make passive income? Where can I literally make money when I sleep? Where don’t I have to trade my time for money? Where I could spend it, so you can pay your student loan debt, and then act on what you think is best. This is when all these things will start happening but before that, make sure you read our entire guide. So now, we’re going to break down all the four things you need to make passive income. The four things are,
- Creating traffic,
- Capturing leads,
- Converting sales
- and Delivering the offer.
If you master that and you outsource all that, passive income can happen A lot faster. If you don’t know exactly what this means, don’t worry, we’re going to explain everything.
1. Creating Traffic:
So, the first thing is creating traffic. What does that mean? Well, traffic in the Internet world is eyeballs to where people are going. Where are people hanging out? People created their blogs because they know how to create traffic, they do it by sending a lot of people to their blogs, which will potentially turn into money. Many people create traffic by creating content that people are searching for on search engines and putting it on their Pinterest account or their other popular social media accounts, which you can see.
So, for example, for the sake of argument, let’s say you wanted to sell an e-commerce educational product, the way to do this is, first go to search, type in how to do e-commerce business, and then wait for what pops up because what will pop up are all these things that people are searching for. So, ecommerce business ideas, ecommerce plan, ecommerce name, ideas, ecommerce model, etc. If you create content on this, the odds of you getting found by people that have no idea who you are, are a lot higher.
You can own that piece of digital real estate where now people are driving in front of that keyword every single day. You should know that If you put an offer in there, you don’t even have to create the offer, right? You could go ahead and make passive income by just being the real estate keeper in the virtual world. It’s the same thing with YouTube. You can type in, for example, an e-commerce business and all these things pop up. These are just the things that people are looking for that particular time of the year, or these are the things that are high in demand while being accumulated with the keyword that you half-searched for.
The busier it is, the more potential there is for you to go ahead and make money in terms of passive income. So that’s essentially how you can create traffic. Now people are in front all the time. They’re constantly coming in every single day, and the more they come and stay on your blog and read it thoroughly the more money you make. So, it’s also quite important to make your blog enticing and add a good storyline to it if possible.
2. Capturing Leads:
That leads us to the second step, which is capturing leads. That’s why all blogs, and most websites grab people’s e-mail addresses. Because when we capture people’s e-mail addresses, we can essentially get them into our entire sales process. We could have them start talking to all our salespeople that are at the back end. They go ahead and earn money. Your salespeople are essentially little emails that you write on the back end to go in and promote products in a specific sequence. So, when people come in and we capture the lead, we can send them emails promoting stories and content and value and whatnot, and that’s what builds the relationship.
When you capture the lead or the e-mail, you get to build a relationship with people who think about walking into the store, right? The more relationships you build with the local businesses, the more likely you’re able to go back in. It’s like why you go to the same Barber all the time or the same salon shop because you’re building a relationship. That’s what happens when you capture someone’s e-mail address when you build a website and A blog. We send them values and preferably free such as free courses and whatnot.
3. How Do You Convert The Sales?
Now, the question arises, how can you convert the sales? What’re the choices you have here? E-mail is a big one because you don’t have to show your face on camera and you can just start building relationships, sending them podcasts and whatnot, to convert the sale. Sometimes what you can do is get other people to convert the sale for you. We can get some other people to go ahead and deliver the product ourselves and do the selling for you. When you do this they will give you a sales template of someone who’s made millions of dollars and they’ll do the selling for you.
Find products that you like that are also listed either privately or publicly on different affiliate marketing platforms and then go ahead and promote them. The craziest thing is for people that do this method since they don’t have to do this selling, it’s even more passive because you’re leveraging someone else’s time instead of your own. So how do you essentially convert a sale? You can either start writing emails about stories and whatnot, or you could partner with people where they’re going to write all their emails for you.
You can see that some of these people have affiliate pages where they’re going to give you all the emails to write. For example, just partner with an expert if you’re not exceptional at selling and they’ll do the selling for you. And that’s how I can leverage their expertise to make passive income. And the more you start doing it, the more you’ll make money but make sure you choose the right person to do this, otherwise it can cost you more than it can benefit you.
4. Delivering The Value:
And last but not least is delivering value in the product that they’re buying. Because that’s essentially what will create passive income, you can always be the person who wants to be in the service field in the future, but it’s about time you realized it’s important for you to have passive income. This is why you need to get somebody else to do it and that essentially would create and generate profit. Most probably you can make a profit by selling your own product, but you can also generate a whole lot of profit from a product that you do not have to create. You don’t have to do customer service. You don’t have to give the value because there’s someone who’s already doing that for you.
Passive income is literally getting yourself out of the process by literally outsourcing all those. So, for example, creating traffic, how do you outsource that? there are millions of people that go on YouTube and Pinterest. You don’t have to find them yourself. You don’t have to cold call people. This process has a name, and it’s “leveraging or outsourcing”. Delivering value in your product essentially points out the obvious, all you must do is teach or show the consumer something valuable that they would be interested in.
If they came out to you in the first place they will be interested in it, which is why you need to essentially make your product or service valuable. Only then you’ll be able to get good reviews and grow your business and make even more passive income than before.
Methods to gain money while you sleep!
1. Start A Dropshipping Business!
If you know about retail business, you will understand and grasp the concept of dropshipping quite easily, all you need to do is understand that dropshipping is a type of retail business, in which the sellers of the product service their customers by playing the role of a middle man, and forms a connection between the supplier and the customer. There are many different dropshipping companies who don’t even own a warehouse, simply because they never needed it. They didn’t even feel the requirement of it throughout their business.
The reason is that when a customer orders a product from the middleman, the retailer or the drop shipper simply enables the supplier to supply the product to the customer while giving the supplier the cut for the product, they keep the rest of the profit and this way they don’t ever feel the need to keep a warehouse or keep products anywhere as they don’t need to waste their time in the hassle of dealing with orders and products. Starting this business has a requirement of a bit of an investment, and this is to form and generate traffic toward the product that is being sold by the drop shipper.
Only then the supplier gets to send and provide the customers, because if no one ever noticed a good product being sold, even if it’s being drop shipped, how will they ever buy it, the first thing that drops shippers need to do after getting a supplier is to get the customers who will buy the product because no matter how good your product is if no one knows that it’s being sold here. This is a better way of starting a business and you can always automate it by making other people work for you which will enable the passive aspect of this business, until then you’re going to have to set it up for yourself.
2. Sell Stock Photos:
Here’s another great opportunity for you to act towards, and it’s selling stock photos. If you’re into cameras and photography this is the perfect business for you, if you have the knowledge of getting a good photo, and what its requirements are, then you must try this, all you need to do is capture the images that you like and sell it on stock photos providing websites. This is an effective source of passive income because here, you’re not only selling the photo, you will always be able to license the photo over and over again.
This will keep on generating profit. If you share a passion for photography then there might not be a better chance to showcase your skills and knowledge about photography. You will also come to know when you start this business that you don’t need much, this business demands less and provides you with more profit, which is why it’s one of the best opportunities for photographers out there to avail. You won’t have to set up your store, you won’t have to market your photos all you’ll have to do is capture it and the rest will fall into place pretty easily.
3. Investing In Stocks And Shares:
So, let’s kick things off by investing in stocks and shares. And in this context, the way that we provide value is by offering up our money. Providing money and investing in service is, in a way, giving it a form of value. And so, when we give our money to a company in the form of buying their stocks. It makes sense that we would get some kind of return for that investment. And we’re starting with this because investing in stocks is the easiest way to make any kind of passive income.
If you have any sort of savings or want to invest your money to get a good return in the future, why not try something new like this? But this isn’t that simple, you can’t go about the market and throw your money in there with an expectation to get something back in the future, you will have to study the market and research the different companies that are best known in the stock market. The money is not really doing very much for you if you don’t invest it anywhere. Whereas if you had those savings and put them in stocks, you could “potentially” be earning passive income from the money that’s otherwise just sitting there.
Most expert’s money that’s in stocks and shares is invested in index funds, and an “index fund” is something like the S&P 500. And when you invest $1000 in the S&P 500, that basically means that your $1000 is distributed amongst the top 500 biggest companies in the market of where you’re from. So, as an example, 2% of it would be in Apple, 2% in Facebook, 2% in Google, and 2% in Microsoft, and then you probably would have heard of the 500th company on the list.
But basically, all the big U.S. companies you’ve heard of, you end up investing in all of them. A little bit at a time. Basically, whatever country you’re in, just Google the phrase “best stockbroker platform”, followed by your country name and you’ll find something that works for you. And then it’s very easy to be able to invest in an index fund.
So, How hard is it to make $100 a month by investing in stocks? This kind of depends because it depends on the performance of the stock market overall. So, as an example in the 12 months from 2020 to 2021, the S&P 500 had increased by about 50%. That is a lot, it’s like gone up by a solid 50% despite COVID and everything going on. So, if in April 2020 you had invested $2400 in the S&P 500 and the fact that it’s gone up by 50% means you would have made $100 a month. But obviously, this is what you’re looking at but if we average out the last 30 to 50 years then this has had a roughly 10-point-something percent return.
Things can go up and down and the stock market has a different level of performance depending on what time you’re looking at. But if we average out the last 30 to 50 years, the S&P 500 has had a roughly 10 point-something percent return, which means every year on average over the long term it goes up by around 10%. This is not inflation adjusted for any economist among us.
And so, if we do some back-of-the-envelope calculations, if we want to earn $100 a month passively through stocks and shares. We would need around twelve thousand dollars invested in the S&P five hundred to make that ten percent, twelve hundred dollars a year, which is a hundred dollars a month.
So basically, how easy is it for you to them to make that sort of money obviously varies massively depending on which country you’re in and what your circumstances are, and what your job is. But if you’re in the UK or the US where the median kind of average salary is around about $50,000, something like that, then again, depending on your circumstances, it’s not that hard to get $10,000 in savings. Obviously, if you’re supporting a family of 15 people or $50,000, it’s different. If you’re a single person, again it’s different. But we’re going to give this roughly a three out of five-star rating for the difficulty of getting $100 a month.
Obviously, if you live in a country like India where the average salary is $3600 a year, it’s very, very difficult to make $10,000 in savings overall. And finally, the third category in our side hustle assessment matrix is how hard it is to maintain this income once you’ve set it up in the 1st place. And we’re going to give this one star out of five because once you’ve got the money in, you just set it and forget it. That being said, stocks and shares are an easy way to make passive income.
4. Start A YouTube Channel:
All right, this idea for generating passive income is to start a YouTube channel. So, let’s use our side hustle assessment matrix to discuss this. How hard is it to start a YouTube channel? Well, we’ll give this “one” out of “five” stars because it’s very easy to start a YouTube channel. You go on youtube, click Create a Channel, and you can upload videos by just filming with your phone and uploading it. In Reality, It’s a lot harder to make good videos, and making good But getting started on YouTube is very straightforward.
The real question is, how hard is it to make real money from YouTube? So again, let’s say we want to make $100 monthly in passive income. What does that look like? Well, firstly, to be eligible for monetization on YouTube, you need 1000 Subscribers and 4000 hours (about 5 and a half months) of watch time and if we look at the averages, it takes on average about 90 videos to get to 1000 Subs. So that’s quite hard. If you’re thinking you’re going to start a YouTube channel and start making money from day one, that’s not going to happen, so choose wisely.
You will have to invest at least two years before you can expect anything in return. But let’s say you’ve hit your thousand Subs and completed the watch time, how hard is it to make $100 a month? Well, on average, the kind of revenue per thousand views on YouTube is around $2.00, so this varies massively. But let’s say on average about $2.00 per thousand views.
Therefore, if you want to make $100 a month, you need 50,000 views on YouTube to make $100 a month. So, you need to run about 60,000 Subs to be making $100 a month. In reality, you make $100 a month, a lot before 60,000 Subs. When it comes to assessing how hard this is to do, going to give this a four out of five stars. It’s actually very hard to make a compelling YouTube video and it’s very easy to get started, but it’s hard to do well.
It’s totally worth it. It’s a great skill set other than that, It’s fun. You get to meet people across the Internet, you get to learn how to talk to a camera and how to film and video edit, and it’s great but it’s very hard to make money from YouTube. Finally, in terms of effort to maintain, and get those first 1000 Subs maintaining your audience is a lot harder than keeping it growing because once you’ve got 1000 Subs. Once you’ve got 1000 Subs. What’s Your channel is growing? It means you’ve landed on a formula that works and so maintaining it then becomes easier than starting from scratch.
Now, we’re going to give maintenance of a YouTube channel passive income stream to be right about two out of five stars and these days the average YouTube channel makes around $12,000 a month in passive income from its videos that are working well. But the bulk of the amount of money that is averagely generated from ads is from older videos rather than videos that were uploaded this month. So with that caveat, twelve thousand dollars a month passive income is right about three thousand dollars a week thanks to their YouTube channel. There are other ways of monetizing YouTube like brand deals and selling merch.
5. Starting A Podcast:
Starting a podcast is another great way of generating passive income but as you already know all great things take time. Starting a podcast is a lot easier than starting a YouTube channel but maintaining a podcast is a lot harder than that. It doesn’t really show how hard it is to start a podcast, this one’s also one out of five stars it’s easy to start a podcast and you can literally use your phone to make it very easy to record. This begs the question, how hard is it to get 1000 downloads per month? It’s a lot harder to get 1000 podcast downloads per month than it is to get 1000 YouTube views per month, because again, YouTube has so much distribution built in. It’s different to podcasts also.
More people are on YouTube than podcasts, but if we look at the stats, then it’s the top twenty percent of podcasts in the world. They’ll get, on average, more than a thousand downloads per episode. Going back to our side, hustle assessment matrix, starting a podcast is one out of five stars, and making $100 a month is a three out of five stars because it’s hard, but not as hard as maybe monetizing on YouTube where you have this minimum threshold. Finally, maintenance.
Well, it’s not passive income because you do have to keep on making podcast episodes because the brand deals are associated with that. But again, once you stumbled on a formula that works once you know how It’s easier to continue going once you’ve already gotten started, as is the case with most things, and in terms of maintenance of the podcast, we’re going to give two stars.
6. Affiliate Marketing:
All right, so this idea for generating passive income is to become an affiliate marketer. Affiliate marketing means that you are selling other people’s products, but you’re so how hard is it to get started with affiliate marketing well we’re going to give this a two out of five stars. Basically, you can just sign up for an affiliate program like amazon associates amazon has its own affiliate program which I think is probably the biggest in the world and then once you have your little special links you can post those on your website or Twitter or on social media or whatever and if people buy the product through your link.
Or in fact, buy any product on Amazon through your link you’ll get some tiny percentage of the sales so pretty easy to get started with affiliate marketing but how hard is it to make $100 a month how does it actually kind of hard so let’s say you had a product that was $50.00 that you were trying to sell and you were getting 5% So how hard is it to get started with affiliate marketing?
Well, I’m gonna give this a two out of five stars. Basically, you can just sign up for an affiliate program like Amazon Associates. So Amazon has its own affiliate program, which I think is probably the biggest in the world. And then once you have your little special links, you can post those on your website or on Twitter or on social media or whatever. And if people buy the product through your link or in fact buy any product on Amazon the same average conversion rate are people visiting the thing versus people actually buying the product after visiting the thing.
Let’s say that’s one percent, which is pretty reasonable for the conversion rate. You would need eight thousand visits to your website or whatever to make a hundred dollars a month. It’s actually quite hard to get eight thousand visits per month to your website for a specific product page. And generally doing well in affiliate marketing requires lots of upfront effort.
So going back to our site assessment matrix, how hard is it to make $100 a month? I’m gonna give this a 3.5-star rating because again, you need an audience. And as we always talk about on this channel, the way you build an audience is by creating it But that’s quite hard to do. No one sticks to it for at least two years, so we’ll give that a 3.5-star rating.
But the good news is, once you’ve created it, once you’ve started making money from affiliates, it’s actually quite easy to maintain because especially if you have Evergreen content. The sort that isn’t relying on current affairs or the latest news sort that people might search for over a long. Time this becomes like really relatively reasonable passive income. Now if you look at me in my business these days from Skillshare, we make around $11,000 in affiliate income, which approximates around $2750 per week. And from Amazon on average like it’s around $450 a month from the Amazon UK store and a little bit more from the US and Canada.
7. Sell Digital Products:
Alright, method number five of making passive income is by selling digital products and these are products that you create once and It doesn’t usually have any cost associated with it. Creating and selling your own digital product requires two sets of skills, the first one is creating a good enough product to be sold in the online market and the second one is marketing it as well as possible to get the most out of your hard work.
Selling digital products is a great way of making passive income and a good example of creating your own digital product would be to create and sell plugins for a website, built themes for website creation that people can purchase and use and even create software to be sold to the right audience.
So how hard is it to get started producing digital products? Anyone can write an eBook, and an eBook house is just the right example of selling digital products. So, I’m going to give this a two-star rating, two out of five stars. But obviously like again money is an exchange of the thing, the thing that you’re selling, you must be providing enough value to compensate and because the market around this stuff is so competitive, you would have to be genuinely good to get people to buy your stuff.
And the way you get people to pay you money for something is that you identify a problem that they have, you solve that problem, and then you charge money for it. And if you can do those three things, then it’s, you know, we wouldn’t say it’s easy to make a hundred dollars a month, but it’s very doable to make a hundred dollars a month. Plus, it’s much easier to maintain a product, product, product in the first place.
8. Make And Sell An Online Course:
number six idea for passive income generation is to create an online course. And online courses are sort of like individual products, but generally, online courses are in video format. And in terms of getting started, we’re going to give the starting difficulty Because it’s not that hard making an online course, but generally, you do need to know how to do video. So you could fill an online course on your iPhone or phone whatever phone you’re using, talk to the phone teach people something that you have enough knowledge about.
it’s not hard to create one but in terms of making a hundred dollars a month again at that point your course needs to actually be good and the only reason people will pay for it is if the course is something life-changing such as “How to start a successful Side hustle” where you teach the Internet a Side hustle in your spare time. Alright, let’s rate it now, how hard is it to make $100 a month from teaching online courses? Now this kind of depends on the platform you’re uploading your course on.
There are different requirements set by different platforms and achieving them might take some time. This also depends on the quality of your course, it your course is well made, and you shared valuable and educational points with your audience then more will always keep on coming which will help you reach the requirements of that said platform rather soon.
The other way of making a hundred dollars a month from a course is to just sell it for a hundred dollars and then if you do that, you just need one sale every month. So how hard is it to get one person a month to buy your course? Well, again if it’s good. You know the world of online education is exploding so much every year. The fact here is that once you’ve done the course, once you’re making a hundred dollars a month from it, maintaining that level is quite easy.
We’re going to give that a two out of five stars because generally, you don’t need to update the course that often and you can do that occasionally and you just need to make sure you’re getting a reasonable amount of traffic to it. And hopefully, the traffic will grow over time.
9. Paid Memberships And Building A Community:
creating some kind of paid membership or community model is the basic principle behind this method. Now again, this is generally a bad idea unless you have an existing audience. Everything becomes easier when you have an existing audience by creating content that has been valuable for you, while you remained to be valuable for it, over a long term very consistently.
That audience knows to trust you and so when you introduce a new product or a new membership, then some people are likely to do that thing. The other way of making a membership is by creating a value proposition that is so compelling that people would be willing to pay for a community service like this. You need a big audience to make a significant amount of money for Patreon.
Again, this sort of depends on how much you’re charging them, and exactly what value you’re providing. So how easy is it to start a membership program? Well, it’s actually very easy. We can give this one star because it’s very easy to start one. You just make an account on some kind of membership platform like Patreon. But to make $100 a month, you need to provide $100 a month worth of value.
And that’s quite hard to do. We’re going to give that a four out of five stars. But the nice thing is, again, once you’ve got that formula, once you’re making $100 a month, it’s a lot easier to maintain it because the way the economics of membership communities work is provided you keep showing up and providing value in some capacity. You know, people have already signed up for the thing, so it’s not too hard to maintain that level of support that you’re offering.
10. Creating And Automating A Business:
So, generating passive income is creating a business that sells goods or services and then automating that business so that the income that you generate from it is reasonably passive. There are a lot of businesses that you can make where you’re selling a good or selling a service and then what you can do is outsource ways to make the income passive. And this requires loads of work for setting up but all you need is a team of three other people that manage the business. Then it’s sort of automated and you can get a team around it and he’s using tools to automate aspects of that business so that each month you must input a very small amount of actual work to keep it different.
These are different ways of generating passive income from a kind of goods or service-based business. But it’s quite hard to get started with this stuff. To get started. We’re going to give this a four out of five-star but the nice thing is once you get started like with anything maintenance is rather easy, so we’re going to give it three out of five stars.
11. Building An app:
Finally, generating passive income by building an app or a website or some kind of software product that you can offer as a digital product is a great way to start or add as well. There’s a whole category of this called SAS Software as a Service. So, you know, it’s pretty good money, but there is going to be a lot of work to set these things up.
And so, in terms of starting out, we’re going to give this a five out of five-star rating because making an app is quite hard. You must know how to code. It takes a lot of work and it’s very hard and it’s and then once you’ve made it, making $100 a month difficulty a four-star rating because again, it’s easy.
Well, you know, you can make an app, but then getting people to pay for the app is an entirely different kind of fish. So, we’re going to give those four stars. But the nice thing is, like with everything, maintenance is a little bit easier. So, we’re going to give that a three-star rating.
Some laidback Passive Income Generation Ideas:
Among the laziest ways to make money online, one of these ways can make you $100 a day. Now, Let’s break down some of these ideas to go ahead and make passive money online. Most well-off online business holders didn’t think in their starting stages about making millions of dollars, all they cared about was making money in different ways at once, and what better way to do this than to base multiple businesses on the formula of passive income? What you need to do is focus on generating more and more money in a single day, it will take time to grow, and the growth will teach you so much as well.
That being said, not many people like to work all day to reach that level, all they want is to have some money while they lay back and relax, they don’t want to put their minds in much stress if you’re one of those people or if you want to learn about how you can generate passive income through some more methods that are not as hard or as demanding as the ones we discussed above, then keep on reading and you’ll get what you’re looking for by the time you’re done. Give us a few minutes to explain everything, let’s get started.
1. Create A Course Through Artificial Intelligence!
Now here’s a very interesting idea where you can go ahead and tell ChatGPT or any other AI bot of your choice and paste, “Let’s just say imagine you are a baking specialist, create for me an outline for an 8-week course and what topic should we go over, step by step to teach a complete beginner? How to become a world-class Baker in eight weeks”.
So, obviously, as you know AI is blowing up. Everyone is starting businesses very fast while remaining extremely lazy because instead of normal people doing all the hard work, they literally have AI doing it for them. So, for example, if you type in the above-given prompt, you can change the details like time on it and you will be left with ChatGPT giving you an outline and detailed step-by-step instructions on how you can generate and sell the course once you’re done.
Go ahead and type in that prompt to ChatGPT and ChatGPT will start creating the course. This helps most users in bringing the cost of just everything down low and then turning that into the way to go out and make money. ChatGPT will break everything down to the last detail and help you generate the cash you’re looking for, but this doesn’t end here there are so many other ways you can generate passive income for yourself.
2. Create And Sell An eBook In The Shortest Way Possible!
So, the second way is having artificial intelligence create an eBook with a big pain point. So obviously one of the biggest challenges when people get started is idea processing things or for example with “What is the next step?” or “What do I need to do next?”. Now, making money has gotten a whole lot easier, this will have its own hurdles but they won’t affect you much, the hurdles that you face in the offline world are much harder to face than having ChatGPT do all the work for you, or at least having it generate an idea for you to work on. It’s so much easier because you can go ahead and prompt ChatGPT and artificial intelligence to do the hard work for you.
“Imagine you’re a world-class author and expert out about the Kito doubt. Write a five-page eBook about the top Kito tips that most people do not know about and write it in a way that sounds like a comedian wrote it” This is the prompt you will be using as a base, you can always change the details, for example, change the number of pages, etc. If you think that your outcome is too short then you can always ask ChatGPT to add 300 words and make the eBook more in-depth, it’ll do it right away. All you’re required to do is ask the AI to do what you want, and it’ll be done in an efficient manner.
Let AI Do The Work For You And Create Enticing Content For Your Viewers!
So, time to reveal the third passive income. Let’s break this down. We have artificial intelligence to create content to sell other people’s products and offers. Now this is known as affiliate marketing. The reason why people love affiliate marketing is you could see even in just one affiliate marketing business that people who know how to market products, and even if they’re not that good at it, can generate decent profit from affiliate marketing.
Just type in a usual prompt and ask ChatGPT to give you an idea about how an ad should be, and what colors to use,
and just research around the niche that you’re creating the ad for, then go out and do that. The interesting thing about this is a lot of these YouTube ads that AI is essentially creating are essentially settling them to clip. Getting products where people are buying it, having the AI voices generated by scripts that you could go ahead and use for a chat or many other things.
It’s essentially important that the videos play in the background of the actual text. It matches the video with the text that’s on the script. And just like that, you literally have a business in a box without having your own product, without being the voice on camera, without doing any one of that stuff. And even that thing alone.
1. Try Ideas That Will Make You AI-proof!
I think the easiest one, which is idea #4, which we present to him waiting for this as you can see most people will lose their jobs because of AI. As you can see every single one that we’ve talked about about how to make money in line just replaces people that must do those things to go to make money. Now AI is doing all the hard work now that is kind of Chucky because a lot of people that are now studying and working jobs they’re going to lose their jobs too, it’s not true that everyone is going to lose their jobs, however, it is important to know that there are many jobs that are in danger because of the rate that technology’s getting advanced at.
This also goes to show your job is not in danger currently however it has the potential to be in danger soon because the technology that’s going to endanger it is not at that step yet, its simply not that advanced yet, however, its advancement is going to happen soon so make sure you’re ready for it by investing and taking steps towards the fields that will not be affected by AI in the coming future.
2. Try Arbitrage!
The fifth idea Is to copy and paste pictures on eBay. Research Now, what drop shipping is and how people are making an extra $100 a day just by simply copying, and pasting pictures people are literally taking pictures on Walmart. They’re throwing it up on eBay and selling the stuff for a profit. This is called arbitrage, what you do in this is you buy a product at a lower price and sell it for a profit, you can do this by making use of different platforms. It’s like when you were younger, and you go ahead and go to a garage sale, and you find like a Beanie Baby and then you sell it on eBay for like a lot more.
There are people in one area that are willing to go ahead and sell something for a certain price point. There are people in another area that are willing to buy it at a higher price point. So obviously all you need to go to do is just get in the middle. You would essentially make more money in crypto because you could buy Bitcoin at a lower cost outside of Korea compared to when you were in Korea. We sell for higher costs, so this arbitrage is just very interesting. It’s just another way to go to make money online. But obviously, if you want to know the fast and easiest way to even make your first 3K to 10K a month online you can use other methods explained above.
Hope you have learned all about how to start making passive income. Enjoy the money 🙂
Frequently Asked Questions:
1. What Type Of Income Is Passive?
The concept of passive income is easy. This is the income that you generate without having to exchange your time for it. You will have to give it time but not the time that it requires to remain a business. Your employees or the people working under you will do it for you.
This is why people want to generate as much passive income as possible. It can be generated by someone other than an employer or a contractor. It can be generated by getting cashback or renting out a property or renting out space. There are many things you can do here to generate passive income. There are many paths for you to indulge in. All you need to do is find the right one at the right time.
2. How can I invest smartly?
It is important for you to understand the concept of investing smartly if you’re looking to make a profit soon rather than a loss. There are many precautions you must take to invest smartly, some of the investing tips are:
- Allocate assets.
- Simplify your investing.
- Invest in something you understand and grasp the concept of.
- Diversify your portfolio.
3. What are four examples of passive income?
It can be earned by getting cashback, renting out a space or your property, investing in stocks, creating a blog etc. There are many other practical methods you can apply that have been explained up above in complete detail, so make sure you give the article a good read. It will put everything in perspective, and it will enable you to make the right decision and make the decision that is best according to your style of business.
4. How can I make passive income at home?
There are many ways you can do this, most of them being online, well, the important ones at least. We have explained them thoroughly above, all you need to understand is give the above article a quick read and you’ll be done in no time. Some quick examples of the methods include dropshipping, print-on-demand stores, selling digital products, becoming a blogger, having AI do the work for you and selling services, selling goods, selling stock photos online, and saving the best for the last, running an affiliate marketing business.