I'm going to provide you 3 lazy passive income suggestions that you can use to start earning extra money. I engage in all three of these and bring in more than $2,000 every month.
In terms of revenue streams, passive income is the ideal.
You build a foundation at the beginning to trigger the future revenue stream that generates money with little to no work.
There are other approaches you might take, like...
- Profits on your investments
- Purchasing rental property
- Selling training
Additional methods
Let's begin, then.
Three Ideas for Passive Income for Lazy People
To avoid implying that you are lazy, a lazy income idea is one that requires little effort during either the setup or maintenance phases. Many people who already feel strained trying to manage their busy lives find that intriguing.
- Selling ebooks
- Affiliate promotion
- Selling Courses
Selling Ebooks
The goal here is to write a book that the general public will buy on a subject you are informed or enthusiastic about.
I've previously written books in a weekend. It's not as difficult as you may imagine.
Write down your ideas, make an outline, start writing, put it all together, and design your book's cover. Then, make it public!
Although I prefer Gumroad, you may also publish on services like Amazon KDP, Sendowl, etc.
I've generated more than $2,000 a month in passive income just from publishing ebooks.
Furthermore, your earning potential increases as you publish additional books.
Affiliate Promotion
Do not yet roll your eyes.
Really, affiliate marketing is simple.
You recommend things to your audience and get paid when they make a purchase.
Example-1: On Medium, you recommend a Costco subscription to your readers. Your affiliate link is used to make three purchases. You gain profit! (If you receive $30 per person, your commissions would be $90!)
Example-2: You suggest to your email list the use of a podcast distribution provider. You make money if ten people use your affiliate link to make a purchase. You would make $150 each month if you received $15 per person.
As customers buy after clicking your link, you'll set the groundwork for affiliate marketing by putting links to your affiliate networks.
You can advertise using various methods, including blogging, vlogging, social media, email marketing, and content marketing.
If you're curious about how to proceed, look for "Medium affiliate marketing" on Medium to discover how others are using the platform and affiliate marketing to make thousands of dollars.
Selling Courses
Similar to the ebook concept, but with more in-depth coursework.
The information will be combined into a curriculum and arranged in classes or modules (or both).
Although it may seem intimidating, you'll soon get the hang of it.
Teachable has been my go-to resource for this for years. Actually, their platform is designed for creators. All you have to do is upload your course to Teachable and publish it. They take care of collecting payments and giving your student access to the course. They even pay you!
Other platforms, such as Thinkific, Kajabi, or others, are also available for use.
Wrapping It Up
These are the three simple ways that anyone can earn money through passive income.
Multiple sources of income are crucial. What happens if you just have one source of income and it stops?
I've experienced it previously, and recovering from it was challenging.
I now have about ten different sources of income, which helps me sleep better at night. I am confident that I will be able to survive if one or perhaps a few of my revenue streams go.