Want to know about passive Income or have a desire to generate passive Income? Read in detail about the Passive Income ways to generate money and its truth.
What is a Passive Income?
In general, the Passive Income is that income which results in the cash flow on a regular basis to the receiver with the one-time investment of hard work and smart work.
For example one time investment, like writing a good book and publishing it on Kindle, letting a property.
What is the best source for generating Passive Income with or without no Money?
Passive Income is the form of regular income which does not include any contractor nor it requires an individual to be involved or participate regularly.
It’s like a business model. One time investment and rest time just getting paid for it. Some of the sources which have the capability to generate passive income are from Online ways and offline ways.
Online ways to Generate Passive Income are…
- Writing and Publishing an eBook on Kindle or on other publishing platforms.
- Creating a website and earning from its ads.
- Creating a YouTube Account and Publishing Good Videos and earning a Passive Income.
- Building an app.
- Doing Affiliate Marketing.
- Investing in Royalty Income.
- Investing in the Stock Market.
- Selling online your courses.
Few Offline ways are…
- Letting a house for a period of time.
- Buy a property and letting it too.
Know in detail
Writing and Publishing an eBook on Kindle or on another platform.
If you have an interest in writing than you can easily generate passive income. You don’t have to worry about what to write and what not!
Just start writing the things you know well and can help others through your writings. Choose the topic where you are really interested and start your writing journey.
Nowadays Amazon has done a great thing, they offer a self-publishing platform for the writers. You will not need to search any publisher but you will be the self-publisher.
Write a good book and market it well and see the magic. You will automatically generate money for your once done hard and smart work.
if you want to begin now then visit this amazon kindle direct publishing.
Amazon KDP is easy, fast and the free, way to publish your e-book.
Creating a Website and earning from it.
There are so many kinds of the website available on the search engine. And some top websites are earning an income like passive income and some are on its way.
If you are interested in any topic then you must create your own websites like a blog, photo stock, video, software or anything else whatever you want to.
- If you are new to these all things then you can start by reading How to start a blog in 2018.
You can earn money from your website in many ways like…
- Displaying an Ads
- Using Products Affiliate Links
- Selling your digital courses.
And these all will help you to earn extra money with one time hard and smart work investment.
If you want to know more in detail then check out How to make money from a website.
Earning from the YouTube platform.
This is another way to generate passive income but to be honest it’s not too easy and not even too hard to start. If you are passionate about making a series of videos in the field where you are interested.
Then choose this free and wonderful platform to earn money. In this consistency is required with good quality of videos.
If you are thinking that: How this can be called a passive income generating source. Well, it is the source of the passive income generating source.
Once you will reach the level of good status subscribers then it will definitely generate you money even while you will be sleeping.
And if you want to start it now but having any kind of problem regarding how to start, then you can check out this post How to start and earn from YouTube to get the way to begin.
Building an app.
If you are a technical person than it is a good news for you and if you are not interested in programming and technical stuff but still want to earn passive income then you must simply learn: How to code and this is also a good news for you.
There is only one thing that defines the earning of an individual and that is his/her learning determination.
- If you can learn then you can easily earn as well. So, keep on learning daily…
And even some platforms will help you to create and publish your app. To create an app for android you have to learn java.
- Java is the official language for Android Development. And you can promote it through some of the platforms like play store.
Mobile app building platform like appery.io, search it on google and you can start.
Now come to the point that how creating and publishing a wonderful app will earn a passive income. The answer is so short and exact.
The process is the same as for any website. You can choose to display the ads. And the more downloads it gets the more your ads will be seen or clicked by the users.
And in this way, by doing a one-time investment you can enjoy the rest of its advantages. You can create an app of…
- Social Media App
- Entertainment Purpose
And so on, but you will have to market it well and make a worthwhile app, which would ultimately help a human being in the way you want to serve the society or the human mankind.
There is a saying that:” One who serves to the society in any form will be also benefited in many ways.” This is a universal law.
Doing Affiliate Marketing.
One of the best way to earn a passive income. And today so many people are using this particular strategy to generate passive money online.
This is so simple and easy but takes time. In affiliate marketing, you would choose to sell a product of the other company or an online shop. You just need a platform through which you can promote the affiliate links and get a commission.
- Affiliate marketing is now trending and many people are earning the huge amounts of money just by one time hard work and smart work investment.
If you are interested in this then you can check out this post.
How to do Affiliate Marketing with Amazon using your website. Mentioned with complete detail about the passive income source from Amazon. You can also do it.
If you are new to these things of generating passive income then, it is a recommendation that: try this strategy first of all then the rest.
But again I would like to remind you that it needs regularity. Well, you will come to know the truth of generating passive income at the end of this post.
Till that you must keep your eyes on this thing. You know,: the truth is truth and can’t be denied. But it will be worthwhile to understand the reality of generating passive income.
Investing in Royalty Income.
The best way to understand the investment in royalty income is to know in deep, about the game changer.
Well, here Royalty means the same as the percentage of your sales or profits. And income is the money received on a regular basis for work or from the investment.
what royalty Income means in the generating passive income?
And You can take the royalty and can receive it as a passive income.
Interesting, you can create a music or song or anything related to the entertainment or business and can give to any other contractor who is interesting in selling your created products on their own with your permission.
Wait, let me give you a short example. I know that in this way no one gets the point and included me too.
Take the example of Bill Gates, and his created software Windows.
What you think that how he gets paid for his software that he has created and still getting paid for that, whenever his products get sold.
Its simple, Bill Gates had created a product called Windows( Included the versions) and he went to the head of computer hardware.
And dealt or you can say sign for the partnership, that whenever any PC will be sold of having windows software installed in it then Bill Gates would get his percentage of Money.
Now, how you can apply the same process to yourself.
- Create a good product and get a deal of it with your salesperson or with the head of the company.
Whenever the product will be sold and in that your products are also involved in any form, then you will get the income from it as well which is indirectly called as Royalty.
This is a good source of passive income.
Investing in the Stock Market.
This is not a proper way to generate passive income but if you are interested in the stock market and have the idea to invest money then it will be a good option for you to get the dividends.
Before starting to invest in this, you must have a proper and good idea of the procedure for investing in the stock market.
Some of the best online brokers are…
- E*Trade Review – It is best for education and minimum account required is $500.
- TD Ameritrade Review – It is best for Overall, Education, Mutual Funds & ETFs and the minimum account is $0.
And if you want more information regarding this, then please Google it.
Whenever you buy a stock, you buy a part of the company. As you know that today the world is changing with the technology and anyone who has the right knowledge regarding the stock market, can buy the stock and can also witness his/her profit or loss.
This is actually sometimes not considered in the passive income because it won’t guarantee the money. So, be wise before you choose this type of way to generate income.
If you are really passionate about the stocks market then you must read the books on it and grab the information from the masters of it.
- Before taking any move regarding this, you must Read about Warren Buffet.
Get the ideas first then start your journey in this. As the right direction will lead to the right path and wrong will lead to the wrong path.
Selling your online course.
Today anyone can sell anything from any corner of this world. Just required two things and the first is a good internet connection and second the good products.
The Internet has helped many people and still helping many of us in different forms. Actually, in one sentence it can be said that the: ” Now the World is changing in the fastest way as the Internet is playing a major role in it.”
It is very clear that nowadays everyone buys or sell the things that are available on the internet. So, now you can focus on selling something that would generate money for you in a passive form.
If you have an idea to share or has something to give to the society then you can start your journey from the internet.
For example, you can sell your courses online digitally.
You can sell your digital products such as e-book, knowledge, etc.
This will definitely help you to earn a revenue that would make your life more satisfactory. Once you will create this and then it will generate income regularly on the basis of your products quality, your marketing strategies.
So, Don’t think too much about these things but try to take the move and then see what works and does not work for you.
Few offline ways
Letting a house for a period of Time.
If you have extra property or flat then you can let it to someone who is in the search of it and that individual can rent you for this monthly.
Fix the appropriate charge of your property and get paid from its – utilization to others.
For example, if you have two house and you are absolutely fine with one house then here you can use your second house for letting it to the others.
- You will also be happy by getting paid for your house and the customer will be also satisfied with your deals.
- Here, you are not selling anything but just letting it for a period of time.
- And definitely, this is a good way to access the passive income regularly.
In this way, many people are living a life of good comfort.
Buy a property and let it.
In this case, if there is no extra property with you but have the money to invest. Then !!
- What can you do with your extra money?
Investment !! Well, that’s a good answer but where and how?
As you know that: “ Money has the potential to attract money through its right implementation”
You can buy a property and can let it to some of the needy. Here letting means “Giving others to use your property for a period of time with its rent”
- Any kind of property you can buy and let it. For example, if you buy a new house then you can also let your old house to someone who is in need. And if they can pay you the appropriate rate.
Of course this the source of Passive Income. You can give a try if you are eligible for its terms and criteria.
And hereby the terms and criteria mean that you are well settled and have some extra money to invest somewhere or in something, which would return in the form of passive income to you.
The truth about Passive Income
Now come to the last part of this post. Well, What is the Truth of Passive Income?
And if there is any kind of truth then in what sense? It is related to what?
So many questions will strike the conscious mind. And it will only get the satisfaction when it will touch the truth of Passive Income.
- First, the truth is related to the passive income which comes from online platforms or work.
- And then the final version of it will be based on offline ways of generating passive income.
The truths are not like (sweet reading) but it can’t be denied …
- Passive income is not 100% for those who just want to do one time hard and smart work investment.
It is a hard truth that most of the time passive income won’t work and the common reason is – the wrong thinking about passive income.
Wait and first of all read, then question the mind…
Does everyone are able to generate the passive income with just only a one-time investment?
The answer is No, but why?
As you know that passive income generates when there is a lot’s of a customer to you in the online field. For example, you currently started a new YouTube channel of the category you are interested in and you just uploaded a single video in it.
Guess! WHAT would be the outcome?
Will this particular channel make money? May or may not be because of the several reasons, like …
- If the video goes on viral and your channel got lots of viewers and subscribers then there is a chance to use the Ads and generate the income, even while you are sleeping.
Now, if the video won’t get viral then what you will have to do to generate passive income?
Absolutely, you will have to maintain the consistency.
Isn’t it so right?
And once you got so many subscribers from all around the world and you have more videos then definitely your YouTube channel will generate money even while you sleep.
And still, by knowing this truth, you think that it doesn’t mean anything to passive income then you must try it at least once.
Actually, Passive Income is related to the Passion, if you are passionate about something and you can serve the world in any form then you will absolutely generate passive income.
As when you are passionate about your work then you won’t feel boring and after doing hard and smart work, it lets you make money to you even while you sleep. – This is what the passive income is.
2) Passive income is easy. Well, this is not the same in reality of it.
If you think that one-time hard work with smart work can generate passive income then its really a myth.
Wait and first all, know what I mean to say with a real example.
A person creates a new software or a website and its completely new. Guess! Will it be able to generate the passive income?
The answer is Yes, but not permanently.
For an instance, If a blogger stops his/her blogging and the software owner stops upgrading the software then what do you think that he/she will be able to generate passive income for a long time or permanently.
No, it’s not easily possible.
This is really hard nowadays. The reason is that because of the Competition.
There is always someone who is just working like you and he/she is working hard because of his/her competition. So, what do you think here about generating passive income easily just with one time working?
How will your website or a software or anything is going to sustain for a long time with this speed of changing of the world? There is only one single way and that is by maintaining the consistency.
You just need to find out that what you are passionate about and then enjoy the doing. And after having a great number of subscribers, customer to your business model.
Definitely, you will enjoy a time with no work but again you will have to start working to maintain the consistency and your competition level.
3) Passive income is not possible is a great myth.
If Someone says that passive income is just a joke. Well, it’s their reality, not yours.
There is a way for every destination and you will have to take the right path to travel.
Everyone who is passionate about their work can taste the Passive Income. You just need to be passionate about your work and you will absolutely generate recurring revenue.
To do this you will have to find your real passion and start the journey…
For example, You can notice something about the great people like Bill Gates, Steve Jobs, or any entrepreneur that they are always passionate about their work.
And ultimately, they enjoy the life of financial freedom. The reason is that they enjoy the work and work hard with their smart brain and serve the world in their own way.
You can also do this, Keep in mind that if you are really interested in vacations, sunshine beach, party, luxurious things then you have to work hard and smart passionately.
The day will come when you will not require to work again for the same outcomes. This is the real way to generate the passive income in the huge amounts.
And by the way, all the online and offline methods that are suggested above in this post, are really true with the saying that these ways can generate passive income but there is a condition as well.
Conditions like, after starting anything like creating a website, YouTube Channel, Software, etc. you must maintain the consistency of its growth.
And once your work or your website, YouTube Channel or anything related to it, will become something like a brand then definitely you will not have to think a lot about these things and you can enjoy your life to live the way you want it to be always.
Clarity is the only way to reach the destination. So, you must clear your all doubts first of all. And to do this you can ” Always Question Yourself“.
- As you know that: Questioning the questions and answers will change the perspective of your thinking and doing.
At last, from this post, you can conclude that: to generate a passive income you must Follow your passion and Everything will Follow You.