Times are tough right now. Maybe you’ve lost your job or just want to increase your monthly income, either way, there are plenty of options available at your fingertips to choose from. This article will include options for ways to increase your income without ever leaving your home. Staying safe should not mean you have to sacrifice the amount of money you make each month. Take advantage of the opportunities available to you through technology.
What is passive income?
Passive income is money earned that requires little to no effort to maintain on a regular basis. The thing to note with passive income is that most avenues will require you to put in the effort upfront to set up the processes and build the product. However, after they are set up and released to the public, there is minimal effort on your part required for day to day tasks.
The goal of passive income is to make money while you’re sleeping so you can enjoy your days by focusing on work that brings you joy instead of working to work. Find ways to live the life you want without having to sacrifice what’s important to you.
Passive income examples
- Avocado Audio
- Rent out an extra room in your house
- Rent out your car
- Sell your photography
- Join an affiliate network
- Sell your work on Etsy
- Become an influencer
- Trade cryptocurrency
- Launch an ecommerce site
- Sell an online course
- Social Media Management
- Write an eBook
- Person-to-person lending
- Storage space leasing
- Real estate
What is evergreen content?
Evergreen content or products are those that are never out of style; the material is always relevant, no matter the current climate. Another way to think about this is, what will no longer be relevant in a week or a month? Topics and content that fall into this category will not continuously produce high viewership for your products.
Why should you incorporate evergreen content into your passive income?
Evergreen content only requires you to put in the work upfront to build the product and market it, but after that, once enough traffic and reviews are built up, it takes care of itself. The content will never go out of style so you won't have to worry about constantly altering or producing new products. Also with evergreen content, you are less likely to see spikes in viewship, and more likely to see steady traffic as Google ranks it organically.
Some of the passive income examples above allow for you to create opportunities to build evergreen content, such as creating a PDF or an audio course for your customers to purchase on losing weight. People will always look for new ways to lose weight, therefore the topic will never lose it's relevance.
Work from home jobs that require your time
The other option for working from home is to actively invest your time and energy daily or weekly into tasks or jobs that physically require constant effort. These jobs can vary depending on your current skills and what you’re interested in, but there are plenty of options that can fit your needs. Options for full and part-time work are available as well.
- Tasks on Amazon’s Mechanical Turk
- Take surveys
- Become a virtual assistant
- Sell stuff on eBay or Craigslist
- Remote bookkeeping
- Language translation
- Technical support
- Medical transcription
- Freelance consulting
- Website flipping
- Meal prep or cooking
- Create video reviews
- Start a doggy daycare
- Rent your clothes
- Buying and selling website domains
- Online juror
- Trade cryptocurrency
- Launch an e-commerce site
Which method works best for you?
When looking at the options above, evaluate your life and what your days currently look like. Do you have a lot of time each day or week to transcribe medical reports to cook for five families? If that sounds like something of interest, do you want to eventually make it a full-time gig or keep your main job and continue this on the side? If you’re more interested in the passive income route, which option would be the best for you? How can you block off time each day or week to build the content and then promote it?
It’s important to know that success will not happen overnight for these passive income products, time and persistence will be required. For example, everyone makes blogging sound like the easiest way to make money, but it takes months, and sometimes years to get to the point where your blog can make money. Blogs need to increase the number of unique visits to the website to show that it’s worth the money for advertisers to spend their money on promoting there.
The next steps
- Pick one of the examples above and develop a game plan for how you are going to implement it in your life. Do you need to work daily, weekly, or monthly on it? How much money do you need or want to make from it? What is the upfront time required to start it? Do you need any certifications or training to get started?
- Get started. Tick off what is needed from your game plan in the first step. Put in the time to build the product or get the freelancing job. Spread the word about what you’re doing.
- Adjust as you go. If you’re not getting visitors to your site or people aren’t buying your course, how can you spread the message? Don’t like the company you’re a virtual assistant for? Can you find a new company or person to work for? Don’t like the intricacies of the modality you chose, what do you want to try next?