Brainstorming passive income ideas to start an online business or make money on the side? All right! this post is custom made for you. For those who are unaware of this terminology, let me first tell you what passive income means and then list out the multiple sources of passive income.
Passive income is the money earned without actively working for it. In short, it’s the money earned by working smart.
Many consider it a hoax because our minds are fine-tuned to working hard day-on-day since childhood. By working smartly, we can greatly diminish the amount of effort required to achieve our goals and also make money during this process.
Today’s internet world provides multiple avenues to achieve grandeur by investing valuable resources like time, money or both.I was always in search of a system that could help me work smart, while I spend time with my family.
My quest for a consistent source of residual income landed me at a huge list, most of which aren’t passive. Hence I decided to bifurcate the list and categorize them individually based on the mode of investment.
Top 10 Passive Income Ideas to Kickstart Your Online Business With Minimal Investment
In today’s post, I will show you the top 10 ways to generate persistent passive income with minimal investment. Most of them are “set it and forget it methods” while the rest require some efforts to build in the beginning. You only have to invest a small portion of your savings in order to create a sustainable stream of passive income that can support you for the rest of my life.
All the passive income ideas published in this post are very well tried and tested and proven to be 100% achievable for even a newbie, with a strong entrepreneurial spirit. Don’t forget to make a note of these passive income ideas to attain financial stability. I would like to say that not all ideas will fit your skills and abilities. What works for you totally depends on your interests and plan of action.
Let’s get started!
#10 Graphic Designing
Graphic designing is a creative way to make money by designing and selling products your customers will Love (and buy!).
You can sell printed products like business cards, banners, flyers, brochures, etc… Besides these, there is always a never-ending demand for blog planners, fonts, patterns, mockup sets, clip arts, media kits, logos, icons and vectors in the online world. Fiverr, Etsy, Creative Market are online marketplaces with millions of visitors where you can sell your creative works for good margins. Graphic Leftovers is a website where graphic designers can even sell unwanted files (like logos, icons, illustrations and more). ThemeForest is another popular marketplace for designers who have web design templates to sell.
#9 Selling Crafts
Have you ever tried your skills at making DIY gifts, cards, jewelry, wall arts, home decor, pillows, bags and clocks. Whether you are just starting out trying to sell things or are already an expert, then this passive income idea is what you might be definitely interested in!
This form of money-making been very lucrative for ages and continues to rock till date.If you have a great product and a solid marketing plan, you can start selling your crafts online.
Crafters can now have their goods seen all over the world without leaving home, which is not only great for convenience but wonderful for keeping a low overhead.
Here is a list of 75 Brilliant Crafts To Create And Sell
There are so many marketplaces where you can sell your craft work, but Etsy is something which is very profitable for handmade or crafty things.
#8 Designing & Selling T-Shirts Online
Designing and launching a new t-shirt brand is relatively inexpensive and quick way to start an online business. It’s been a very popular business choice for decades and still continues to be.
If you have ideas for the types of designs you want to sell, you can be up and running in as little as a few hours.Considering your t-shirt as a blank canvas, you need to paint your ideas on it. The ideas need not be complicated, they can be simple, yet catchy and creative.
Keeping in mind the immense competition you got be facing in this field, you need to break-through. With the abundance of apps and integrations in the Shopify App store, you can also connect your store to a t-shirt printer/dropshipper in minutes and have a fully functioning store, ready to print and ship to your customers.
#7 Writing & Publishing eBooks
Wait, don’t skip this! This isn’t a tough task. Anyone can do this staying at home. You just need to be knowledgeable in the topic you wish to write about. If you’re an expert in a particular field, then you need not wait anymore.
This passive income stream can easily make you go from rags to riches. Remember, how a school teacher, J.K.Rowling turned her passion (for writing) to profits with her record-breaking Harry Potter series. If you are passionate about writing, immediately put your skills to action.Your aim should be to provide value to your readers.
Platforms like Amazon allow you to self-publish your ebooks, hence not much investment is involved. Target your field of expertise or interest and plunge in to produce a valuable ebook to your readers. Prepare an attractive cover page that directly implies the main content of your ebook.
Here’s a step-by-step guide to Kindle Secrets: How to Wrote a Best Selling eBook In 72 hours
#6 Drop Shipping Business
While there are lots of ways to make money online, drop shipping is the most simple online business model that’s very lucrative.
Drop shipping is a form of e-commerce business in which the retailer does not keep goods in stock but instead transfers customer orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer.