People look to passive income ideas as a way to add more money to their bottom line each month and years from now, as well as a way to make money online in 2023 and beyond. In this article, we’ll take you through 9 of the smart passive income ideas that will help you with your endeavors so that you can start generating an income that doesn’t require much work on your part while also adding to your bottom line each month! Let’s get started!
Idea #1: Become an influencer
One of my favorite smart passive income ideas is by becoming an influencer. Many people quit too soon because they don’t see big changes fast enough. They become discouraged and stop using their influencer status as a platform for growing their business or following. That’s how most people fail at becoming an influencer—they don’t see any progress early on, so they quit before they ever get started!
Running a popular Instagram account, YouTube channel, or Facebook group could be a great way to make passive income. Work on creating high-quality content and building up your followers — one of my favorite ways is using niche marketing. While there are a lot of horror stories online about influencers getting shut down by Instagram, YouTube, and other social media sites, some people have found success with it, so don’t write it off completely. Just do your homework before jumping into one.
Idea #2: Become a Travel Blogger
No doubt, travel bloggers are making a lot of money. In fact, blogger Brad Barrett made $200K his first year of blogging. Obviously, that’s not easy to do (especially if you want your first business income to be passive). However, it’s far from impossible—and it may just be easier than you think. Just make sure you don’t sell yourself short. The industry average is somewhere around $24K/year… which isn’t too shabby at all!
Idea #3: Write an e-book
E-books are a popular way to earn passive income, but they take some time and effort to create. If you’re not super confident in your formatting and writing skills, consider hiring a freelancer to do it for you. Once completed, you can sell your e-book through services like Amazon Kindle Direct Publishing or Apple iBooks.
Idea #4: Start a Youtube channel
A Youtube channel can help you generate passive income through advertising, sponsorships, and affiliate marketing. Unlike passive income options that come before it on our list, Youtube channels require continual work. However, once you establish a good following—through consistent uploads and interesting content—you can earn anywhere from $200-$1000 per month as long as you meet your goals(For an example of a successful channel, check out PewDiePie.) For an even more detailed breakdown of how to make money on Youtube, check out the Youtube video.
Idea #5: Create an App
Apps offer a great opportunity to earn passive income, but they’re not easy money. Disruptive apps that solve real problems can make a lot of money, but there are no guarantees. Developing a quality app takes time and doesn’t happen overnight—but once you’re set up with an app store account, it’s fairly simple to maintain. Again, if you want something that feels like online earning but is truly passive income, apps are a good bet. You can even leverage networks like Hacker News or Reddit to drive free downloads of your paid apps by talking about them online on related subreddits.
Idea #6: Join Affiliate Marketing
One of the smart passive income ideas is affiliate marketing. It can be an excellent way to earn passive income. You simply promote products or services online and get a commission on every sale that you make. Although these sales aren’t technically yours (since they happen without your input), it’s easy to track your success using web tools like Google Analytics. With affiliate marketing, you don’t have to invest any capital upfront or handle any warehousing; all you do is promote a product with good, relevant content…and reap your rewards as commissions roll in. In fact, I use it on my very own site!
Idea #7: Create a course on Coursera
Online education is booming. With tools like Coursera and Udemy, anyone can create an online course, whether it’s about cooking or programming. If you’re great at something—even if it’s just your expertise around a hobby or passion—it might be worth your time to create a course on something you’d be giving away for free anyway! You can charge money for your courses and make even more money through affiliate sales from those who sign up through your affiliate link.
Idea #8: Build your own product using Shopify
If you’re not a developer, then Shopify has a nifty feature that lets anyone create an eCommerce store and sell their own products without having to learn how to code. It’s relatively simple, involves no coding knowledge whatsoever, and is perfect for people who don’t want to go through all of their existing products to decide which one they want to turn into an eCommerce site. They make it easy: they handle hosting, storage, fulfillment, and customer service – all on their platform. And you get paid through Shopify’s commission on sales.
Idea #9: Create content (blog, social media posts) about the niche you are passionate about
Many bloggers, including some of my favorite blogs, create content online and earn money online. If you enjoy writing, why not give it a try? It’s easy to start your own website. You can write about anything that interests you or that might be helpful to others. You don’t need any special skills or training; just a desire to share what you know. You can even use blogging as an avenue for affiliate marketing.