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Wednesday, June 13, 2018

Passive Income: 10 Proven Ways to Make Money Online Without Investing


Passive income is undeniably the holy grail for almost all online marketers. Apart from being automatic, it requires very minimal effort. Nonetheless, during the initial stages, it can prove to be a little bit gruelling. If you are thinking about early retirement, then you should definitely do lots of research to establish a field that you will be comfortable working on.

On the other, if you still want to retain your day job and make a little extra cash on the side, then you can take on some of the tasks with very minimal research. It is essential to note that it is somewhat difficult to become wealthy, without a reliable and financial strategy. Apart from opening many doors, passive income will also give you lots of flexibility. In some cases, it can also enable you to retire early. Let us look at some of the ways that you can make passive income online without having to break a sweat.

1. Amazon Turks (Amazon Mechanical Turk)

Founded by Amazon, Amazon Mechanical Turks is a crowdsourcing marketplace that enables businesses and individuals to capitalise on human intelligence in the execution of various tasks. Many of these tasks cannot be completed by computers, because of their lack of the ability to execute these tasks.

Employers or requesters, will post a different type of jobs, dubbed HIT (Human Intelligence Tasks). Some of these tasks may entail selecting the best photo in a group of five or ten, crafting product descriptions or alternatively transcribing audio recordings to text. As a turker, you will be able to browse a wide range of tasks, which you will complete and then be paid once you properly execute the task.

2. eBay/Dollar Store

Another great way to make money by flipping stuff from the dollar store, and then selling them on eBay. However, this does not necessarily mean, that you should buy everything from your local dollar store and then sell them on eBay. It is always important to remember, that there are specific products that will perform exceptionally well and then there are others that are not going to do well.

Therefore, before you purchase any stuff from your dollar store, be sure to first do a little bit of research. Moreover, you should also consider the extra costs that you may end up incurring, including the packaging and listing fees. Thus, if someone will end up paying for $10 for a product that you purchased for $1, they will still need to include the packing and listing fees, when determining your overall income.

3. Upwork

Upwork is also another great platform to make lots of money online. However, unlike most of the options discussed above, the tasks on Upwork will require lots of brain power, due to the nature of the tasks found on the site. It is important to note that you can survive entirely on Upwork, mainly because most of the tasks posted on the platform pay exceptionally well. Depending on your capabilities, there is a wide range of tasks that you will be able to complete, including online marketing, website design, SEO marketing and many others.

Before you can begin working on the platform, you will first be required to create a user account. After creating the user account, you will then be expected to complete your Upwork profile.

4. Swagbucks

If you are looking for an easy way to earn rewards such as gift cards, then there are several websites that you can look into. Most of these websites will require you to complete various tasks such as playing games, taking online surveys and watching videos online. One site that stands out from the rest when it comes to rewarding its customers with gift cards is Swagbucks. 

Throughout the years, Swagbucks has managed to make a name for itself as a fantastic destination for different online rewards, by combining everything that you may love, with making money. You will be able to earn some rewards on Swagbucks just by searching for your online shopping list using their search engine or alternatively watching various videos on their websites.

5. Instagram Shoutouts

Unknown to many people, Instagram is a great place to earn a few dollars on the side. Though you might have worked extremely hard to increase your online presence, by getting more likes and followers, chances are that your account failed to pick up. For those individuals whose account was unable to grow organically, it can be a little bit difficult to make money with Instagram shoutouts.

However, on the other hand, people with Instagram accounts that have huge followings and engagements can be able to make a few extra bucks by being paid to promote various products or posts on their Instagram accounts. Moreover, you can also choose to sell your account especially if it has a considerable following, considering that there are lots of business who are interested in your target audience. Alternatively, you can also endorse other brands through your Instagram account and earn a few dollars.

6. Building a Youtube Channel

Another great way to earn passive income is by building a YouTube channel. YouTube has given millions of people the chance of generating lots of income by monetizing their videos. Apart from monetizing videos on YouTube, you can also generate sales by encouraging your viewers to make purchases from your Shopify merchant account or from other websites.

You can direct links to other websites, through your blog or personal YouTube channel. Many affiliate marketers solely rely on blogs and websites to generate sales. However, what they do not know is that by creating a lively and engaging YouTube channel, you will be able to convince the potential buyers to purchase various products.

7. Clickbank

Every day, Clickbank facilitates more than 30,000 sales a day and at the moment has more than six million users. Clickbank generates revenue by mainly promoting digital products. There are two main ways that you can earn money on Clickbank. The first way to earn money on Clickbank is by creating a product and then listing the product on Clickbank.

The second way to make money on Clickbank is skipping the first step, and then list other people’s product. By listing other people’s products, you will be able to earn a little extra commision on the side. Upon signing up, you will automatically become an affiliate with Clickbank. You will then browse, the products listed on the website, which are readily available for sale.

You can begin to search for products in their niche as well as the commision percentage that you will be able to earn by selling these products. Upon finding offers that you see quite attractive, you should then look at the merchant’s page before promoting the product. Though the merchant might be offering commissions of up to 50 per cent, always ensure that they are trustworthy.

8. Amazon Affiliates

Amazon Affiliate marketing is an excellent way of making a little extra cash on the side. Widely known as Amazon associates, the Amazon affiliate program allows users to earn four per cent or more, for purchases which are made via a unique link on the user’s blog or website.

You can begin by making your online presence felt, either through a website or by blogging. Moreover, you should also remember to set up social media accounts for your website or blog as well. Always post quality posts consistently, at least one post each week. Posting quality posts will aid you in gaining more readers and followers.

9. Kindle Ebooks

Over recent years, the popularity of Kindle ebooks has been on the rise. More and more people have continued to earn lots of money by publishing Kindle ebooks, including internet marketers, publishers and even authors. Creating e-books is not only simple, but it is also a very lucrative way of making passive income.

With the increase of popularity of the internet, kindle ebooks have managed to outsell physical paperbacks, making it a very lucrative business. Moreover, the great thing about Kindle ebooks is that you do not necessarily have to be an established author. Through Amazon, you can publish e-books and begin making a passive income online by selling your e-books.

10. Selling Photos Online

Do you love taking photos with your camera, each time you travel? Do you know that some websites are willing to pay a significant amount of money for your snaps? Most of these websites have a different payment structure, which in turn means that each site pays differently for the photo.

If you are more than serious about earning some great cash by selling your photo, then you should definitely become a Stock Photographer. Some of the best paying websites include 500px Prime, Smugmug, Shutterstock, iStockpro, Etsy and many others.

Conclusion

With that said, not many of us are going to get rich from our day to day jobs. Moreover, some of us may end up losing our jobs due to automation. If we genuinely want to gain a certain level of financial independence, then we need to start making money passively. The list discussed above should be able to give you several passive income ideas, which will provide you with the financial independence that you rightfully deserve.

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