Every serious business person wants to make passive income and if possible, multiple streams of income online. Having only one stream of income is risky, and even having multiple streams of income that depend on you doing the work can be dangerous if you’re hurt and can’t work.
Learning how to make money through blogging and other ways to make passive income online can help you get out of the rat race and finally tap into automated daily income with systematic work.
Continue reading this article to learn how to start your blog and start earning money from it passively as well as other smart ways to make passive income.
Why Blogging for Dollars Makes Sense
When you’re starting a new business, you’ll find that one of the first steps to promoting it is writing on your blog.
Even if you don’t have a business behind the blog, a blog can be an effective way to generate revenue. You can make money with ads, affiliate marketing, generating leads, and much more.
The reason blogging is such a good way to build passive income is because you can generate traffic a number of ways and make money. You might implement SEO, social media traffic, or even drive traffic through low cost paid ads.
Once you get a good foundation for your blog, the content that you create can help you earn income for years to come. Updating the content each year or two will allow it to last even longer and continue to bring in revenue.
Other Great Passive Income Ideas
If the thought of blogging gives you a headache because you hate to write, there are other ways to generate income passively. You can check out the methods below and see which ones work for you.
Real Estate Investing
If you have some extra money, you can invest in real estate and let it work for you. You can buy some rental property, and hire a property management company to take care of the work for you.
Rent Out a Room
If you aren’t sure if you want to become a property owner, why not try renting out a room to see how that goes? If you’re only renting out a room, you won’t have to worry about people trashing your house because you’ll be on-site to keep a check on them.
Income from Dividends
You may have heard about earning money from dividends, but is it too good to be true? Companies paying you to own their stock? How does that work?
Dividend income is paid to investors because they are shareholders in the company. When you own this type of stock with dividends, you usually get a payout every quarter or so. Make sure you check the terms on the stock that you choose.
When you want to make money off dividends, make sure that you choose companies that are going to be around for the long haul. If you choose a company that goes under — your dividends are gone as well.
Write a Book
Do you feel like you have something to say that people would be willing to pay for? Writing a book is another great way to generate passive income — even if you choose to self-publish.
Once you finish writing the book, you don’t have to do any other work except for getting people to buy it. You can even hire people to market your book or pay affiliates to generate sales, so you don’t have to do that part either.
Create an Online Course
Online courses can be even more lucrative than books. People are accustomed to paying hundreds and even thousands of dollars for education.
If you can put together a meaty course that people are willing to pay for, you can make a good deal of money through online courses.
When you’re deciding on what type of course to create, make sure you choose a course that people are going to need for years to come. If you create a course for something that is going out of style, your passive income is going to be short-lived.
Vending Machine Business
How many times has your attention been caught by a vending machine because you were thirsty or hungry and on the go? There are plenty of people just like you that are more than happy to pay for the convenience of a snack or drink when they need it.
After the initial investment and setting up people to take care of the vending machines, you don’t have anything else to do. You can choose to keep expanding your vending machine business, which will take some planning.
Buy a Laundromat
Yes, people still need laundromats, and they can be a great opportunity in a busy part of town.
Don’t try to start a new laundromat since that is simply too much work, and isn’t going to be passive at all. Instead, find a successful laundromat, buy it, and hire someone to manage the day-to-day operations of the business.
After that, you can rake in the profits, and since people usually frequent the laundromat, your income is usually pretty consistent.
Make Money Through Blogging & Financial Freedom – Is Possible
If you’ve been feeling like making money through blogging and other passive income methods are out of your reach, now you know differently. You have the tools and road map to get started on your journey to financial freedom.
Do you need more information and want to learn from the best? Check out our free online training center to get the information you need.