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Passive income is an income received on a regular basis, with little effort required to maintain it. The American Internal Revenue Service categorizes income into three broad types, active income, passive income, and portfolio income.
43 Best Passive Income Streams & Opportunities
RichardBy Richard | 7 min read
Most passive income ideas will either generate poor returns or consume lots of your time (not very passive!). So the question is…what really works?
passive-income-streams-opportunitiesI’ve spent 100s of hours thinking about all sorts of crazy ideas for making passive income online…
From the smart ideas like an online course to the dress-me-in-the-white-jacket ideas like writing articles for adsense, I’ve thought about pretty much every passive income stream there is.
During this time the one thing I wanted more than anything else, was a big fat epic list of ALL the possible passive income streams there were.
Everything in one place so I could compare them and work out what was best for me.
Unfortunately no one has – even till this day – made a complete list. So I spent the last week getting loaded on strong Ethiopian espresso and compiling every different income stream from my head, my notes and the world wide interwebs!
What Is Passive Income?
When I say passive income, I’m talking about what happens after you do the hard work up front.
ie first you need to haul ass and do something crazy, eg write a quality 20,000 word ebook (insanely not passive hahahah), but then you get to sit back and enjoy seeing PayPal sale messages pop up on your iPhone each morning as sale after sale after sale is made…on an ongoing basis and without any additional work. That’s some seriously Pina Colada flavored passive goodness!
As you can see passive income streams simply come from assets, and assets are either bought with money (eg rental property) or in the case of most of the ideas below, bought through sweat (eg ebook)!
Let’s Get Started…
1. Sell An Ebook
The much loved model for bloggers and content creators everywhere and for a good reason…it’s pretty easy to write a 60-80 page ebook, not hard to sell say $500 worth a month through online networking, guest posting and your own SEO optimized blog, and well you get to keep a large whack of the pie after paying affiliates. Hells yeah!
2. Create A Blog And Get The Affiliate Links Cranking
Who doesn’t like some down and dirty affiliate fees?! It’s even easier to make money this way than with an ebook, because all you need to concentrate on is pumping out the content for your own site and getting the traffic in – most people can get an affiliate sale within 30 days of starting a blog.
3. Sell An Online Course With Membership
We’re talking a members-only multimedia-driven website here. Straight up I have to say, this is a looooot of work. I’ve done it and it nearly killed me.
4. Create A Comparison Site
I really like this idea, but must confess I’ve never earned passive income from a setup like this before.
I’ll be putting something together soon though and really wanted to share this one with you.
5. Build An Ecommerce Store And Drop Ship
This idea is for those of you hell-bent on making some serious passive income online.
There’s a lot of work upfront and by comparison to other ideas, there can be a fair bit of work on an ongoing basis. But if you automate as much as possible and/or hire a VA in the Philippines for example, you can get it down to just a few hours a week.
6. Put Together Static Guide Websites And Directly Sell Advertising Space
I want you to think very specific here…
I’m not talking about writing a blog on cats and inserting some Google Adsense up in there.