Generating a passive income and still keep your job. 

The common definition of passive income is income that you earn without being actively involved. That typically means that you continue to make income with no or very little effort on your part to maintain that cash flow.

Passive income is the Holy Grail for online marketers. It’s automatic. Effortless. But, not at first. In the beginning, it’s grueling. I liken this to doing the most amount of work for the least initial return. However, over time, as your passive income begins to increase, your reliance on an active role income plummets. That’s when the real magic starts to happen. For most people, that means an exit from the proverbial rat race . It equates to freedom. True financial independence. An extrication from the shackles that binds us to the 9-to-5 corporate life-sucking job. It means being unleashed. Living a fulfilled life. And having total freedom to live, work and roam free at your leisure. You can see why the idea of passive income would be appealing. Typically when someone needs additional income, or you’re a college student that needs to make money , they get the stereotypical suggestion to “get a part-time job.” But what if you don’t have the time or energy to put in all those extra hours? I know I didn’t. Plus, that wasn’t as appealing as making money without needing to trade my time. For that, you may need some passive income ideas – ways to make money with little investment of time and effort on your part. And a great benefit of this is if you are trying to pay off debt quickly , this can be a huge help!

Here’s a list of quite a few passive income ideas, so it’s likely that you’ll be able to find at least two or three that cater to your situation and skills.

1. Start a blog.

One of the best ways you can create a passive income is by blogging . Yes, in the beginning there will be no income. Expect that. But, over time, you’ll start to generate an income from that blog.Eventually, it will snowball. Potentially, it could earn you six or seven figures per year, sometimes even more. There are some basic steps you’ll need to take before you start a blog. Don’t just rush headfirst into this without planning first. Blogs in the following sub-markets make the most money:

  • Dating and relationship related blogs
  • Money related blogs
  •  Diet and fitness related blogs

However, you should pick a niche and blog about that. If you’re launching a money related blog, maybe it’ll be about how to make money in real estate or simply how to make money online. Pick the niche and stick to it. If it’s a diet and fitness related blog, maybe the niche is the Ketogenic diet, the Atkins diet or some other form of diet or fitness.

2. Operating Savings account:

Accounts Savings accounts might be the most boring investment ever invented, but they are also the safest. If you are used to your run of the mill bank where you can walk in and talk to someone, then you probably think the interest earned hardly qualifies as income. Online banks hit the scene in the late 1990 and have been able to provide much better interest rates to their clients than their traditional cousins. Now, you can get savings account rates that are as good as a CD without locking in your money for several years. This is also a great option to stow away your cash and create a little passive income while you are looking for a more lucrative investment option.

3. Launch an automated webinar. Webinars are absolutely crushing it these days. If you’re looking to create a serious amount of passive income, consider launching an automated webinar . However, before you do that, make sure you do that webinar live every single week for a year. Once you’ve got that webinar converting, automate it. Some people take it automated well before the year is up. When it converts, it converts. If you target the right people and you’re able to create the right message that appeals to your audience, you might just hit a home run. An automated webinar often involves the creation of a webinars funnel. That includes, not only the webinar, but also the email sequences, and possibly a self-liquidating offer, and maybe some done-for-your services and up-sells. It’s not as complicated as it sounds. There are loads of things to keep in mind when building out a webinar. It’s not a simple task. But, when it clicks, it’s a proverbial money-making machine. Not only do you make money fast, but it’s often more than you had ever dreamed of.

Invest in a business :

Another way to generate passive income is to invest and be a silent partner in a business. This is very risky, but with risk comes the potential for high returns. For example, several years ago both Lyft and Uber were looking for private investors to invest in their companies. Today, they are worth billions – but you as an investor would only reap that benefit if they go public via an IPO, or get acquired. So, it’s risky. But there are ways to reduce your risk. For example, you can invest small amounts in many companies through equity crowdfunding. There are a lot of crowdfunding platforms that are enabling this, so research it and see if it makes sense for you.

4. Write a ebook:

Ebooks are one of my favorite sources of passive income. Now, you can do this the simple way and just publish it on Amazon ‘s KDP. Or, you can go all out and build yourself a book funnel. Book funnels are powerful, but they won’t be fully passive. For example, if you do a free-plus-shipping offer for your ebook (converting it into a physical book), you’ll need to create some one-time offers (i.e. extra training) and up-sells (i.e. an audiobook). But, a book funnel can be very powerful. But, you don’t need to go further than that. You can simply write it and publish it and collect the income. That’s all. Send out a couple emails to your list (if you have one) or post it on social media, and there you have it. Passive income. Now, the amount of income you receive depends on the quality quality of the book you’ve written. How well did you craft the message? How targeted was the information to your audience? It counts. If you want to take it a step further, you could easily create that ebook into an audiobook using the Audible platform. You can either produce the audiobook yourself or hire out a producer to do it for you. You can either pay them a flat fee or a royalty from the proceeds of the audiobook.

5 Start affiliate marketing.

Affiliate marketing is one of the great ways  to generate a passive income.  Now, this does depend on the size of your list. Yes, size matters when it comes to your list. Especially if you’re looking to make some serious money and do it on autopilot. But, list- building takes time. It doesn’t happen overnight. And you need to add value to your list or you become obsolete. Build a list in a particular niche and tell them stories. Create a bond. Build a relationship with them. It’s important. Then, when you’ve created a bit of culture, start marketing affiliate products or services to them that you think they might like. Just be sure that you personally vet out whatever it is that you’re selling to avoid complaints if the product or service falls short. And if you’re wondering whether you need a blog or a website to build a list, you don’t. You can use sites some of these  like Medium or Quora or LinkedIn Publishing, and place a call-to-action to join your list. It’s as simple as that. Build up quality content and invite them to join your list. Then, start marketing to them.

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