Top 10 Passive Income Streams of 2017
If you’re one of those people who voluntarily read Robert Kiyosaki’s Bestseller Rich Dad Poor Dad, then I Possibly know you well enough. After reading that material, most people starts distinguishing themselves from the herd. They start reading more books in the same genre and goes gaga for thy self. And there are these people who are very impatient to take the action and want to follow Kiyosaki’s footsteps and want to create at least one more source for their income. So, accordingly I have created a list of ways to add up a one more source to earn the extra dough or as you call it ‘The Passive Income’. The list is based on my experiences and the experiences of the people whom I work with. So, start taking notes for good.
I have been through the time, when I used to think about publishing my own book. At that particular point of time, I was a complete dumb person and unaware of how to do it.
Talking about 2017, you can create an eBook which is as simple as typing an essay on your desktop computer and you can upload it to Kindle Marketplace and you can generate cash out of it, which might not be too much. But, gradually with time, it will start to matter.
Tip: To Begin with create a ‘How-to’ book and present it well.
2. Owning a part of a company (Stocks)
This is something for which you need to have money before executing the plan. The sum of money really depends upon the cost and the number of shares of a particular company.
With money you need to have a very detailed knowledge about every in and out of the stock market.
Stocks is something which will take a brief guide to understand. I’ll create one for sure.
3. Affiliate Marketing
This method is quite popular around the internet and many geeks are cashing out some very good money with it.
For those who don’t know Affiliate Marketing, It is a well-working system where brands use this method to promote their products and E-commerce websites use this to generate more money.
The highly popular affiliate websites are Clickbank and Amazon Affiliates. The process is to sign up for one of those programs or you can even sign up for both. Then you have to choose some products out of their long Products range. The system will give a unique link for every product and you have to promote the link.
You can promote the link where you have a decent following. It can be a Facebook page or a Twitter account or Instagram. So, the Amazon Affiliates or Clickbank will give you commission for every sale of a product. The percentage of the commission varies from product to product. I would recommend to promote only those products which you trust in, because you might ruin your following for promoting a faulty or a wrong product.
To some of the people, Affiliate Marketing doesn’t appeal so much in the first go. But, believe me it is one of the most working money earning method on the internet. What I consider is to have a deep study in it, before beginning.
I think this topic will need a brief guide too, I’ll surely create one.
4. Creating WordPress themes
WordPress is a very popular CMS around the web and the reason is the beautiful choice of themes and plugins we get on the back end.
So, if you’re a coder and know web programming pretty well, then you can design your own themes and charge a fees for using it. You must at least give it a one shot.
5. Website Ads
I already predict that everybody might be knowing about this. If you’re having a website then you can place Ads on it and get paid for every visitor who clicks on your Ads.
And if you don’t own a website, then learn creating one with the help of WordPress which is extremely easy. Start writing articles or reviews or make a travel blog and start placing the ads as you start to receive the traffic.
6. Provide Online tutorials
Time to implement Joker’s epic from the movie ‘The Dark Knight’.
“If you’re good at something, never do it for free”.
Yes, if you’re really pro at some or the other skill, start cashing from it. You can either make videos for your tutorials and upload them on YouTube and start making revenue for the number of views you get.
The other method would be to create a course on Udemy and charge a fees. I would recommend Udemy.
7. Your own Application or software
You can create an application and present it on the Play store or the Apple App store. Remember, that both of them charge you a small amount to have your application live on the store.
You can charge a certain amount for every download of your app or you can make it free and you can always integrate Ads in it to earn the revenues.
However, creating apps needs coding, which is always free to learn.
8. Stock Photography
If you own a good camera, I recommend you to click some good pictures and sell them for a price.
9. Real Estate
Real Estate isn’t cheap, therefore you need to have some initial stash of cash to start investing in Real Estate.
You also need certain licenses from the local authorities before you invest in Real Estate.
I would recommend you to guide yourselves from someone experienced in real estate business.
10. Selling stuff on Instagram
You possibly would’ve seen the accounts on Instagram which sell products like phones or shoes or clothes anything like that.
As, I’m from Mumbai, India. In my case, If I was going to start this business, I would start with selling t-shirts as they are cheap compared to watches or mobile phones. You can buy plain t-shirts from a wholesale market, In India I would recommend Tirupur which is in Tamil Nadu where I can get a piece of 150 gsm t-shirt for 70 to 80 INR, Further I would get them designed in Mumbai for like 100 INR for each and promote the final product on Instagram, I would buy shoutouts from Instagram accounts with more then 100K Followers to get some customers. I would sell them for around 600 INR each. I necessarily have to spend on courier to deliver the products. Still, I would make a good profit. So, this is the way how it works.
If you’re really interested in any of the above mentioned ways and have any questions then you can comment down your question below or directly contact me on Facebook or Twitter or Instagram.
Hasta La Vista!