5 WAYS OF MAKING PASSIVE INCOME FOR SEPTEMBER 2021
There are a lot of ways of making passive income, but the thing is there is no real passive income, without some immense effort to make it passive. Without labor, nothing prospers!
- Affiliate Marketing
- Dropshipping / Drop Service
1. Affiliate Marketing
Affiliate marketing is all about generating tons of profits without any effort, right? Well not exactly.
With the help of thousands of Youtubers who are saying that they are making affiliate marketing as the best means of passive income, thousands of people are already trying out affiliate marketing. Which makes the market much more competitive compared 2 years ago, that is why the question is how you will seperate yourself from the pack must be one of your goal when thinking of doing affiliate marketing.
Affiliate marketing is when an online retailer pays you a commission for traffic or sales generated from your referrals. For you to be able to earn a lot of money is you have to put a lot of traffic to your platform.
After gaining a lot of traffic, then will be the only time you could consider this method as passive income.
Cryptocurrency has been very volatile recently, but still, it has been consistent gains in terms of investments.
If you have experience with trading either you are a stock trader or fx trader, cryptocurrency will be a fun experience since the market is always open 24 hrs. Compared to the other two platforms which are closed on the weekends.
There are always options in exchanges like Bitcoin and Kucoin to stake your coins to make more coins either the same token or another cryptocurrency token. In this case, your volume will expand in a moment of time.
There are some people who are always investing a small amount of money each month, which they call dollar-cost averaging. This form of investment like stock grows over time.
There are a lot of people who are giving a lot of work to this platform. Gaining a lot of subscribers and making your content as much as visible as possible.
If you can put up good content and consistency with your post. You may be able to put up a decent amount of views to get you getting monetized by Youtube. Although the start needs a lot of work, you can get enough gains with a bit of hard work with video editing and stuff.
Blogging was one of the first ways of making money online. You can use your website to post up ads to generate passive income.
5. Dropshipping / Drop Servicing
Dropshipping websites spread like wildfire for quite some time. With the introduction of web services like Shopify. Dropshipping has never been easy.
But since Corona, instead of dropshipping a new method of service called Drop Servicing has been gaining some respect.
Dropservicing is when you make your own platform to attract customers that are looking for services, then outsource people you could find on websites like Fiverr, that could make the service for you. Charge the client 20% – 50% more and both of you and the person you outsource get paid. Everybody is happy!
Maintain a good connection to your clients and people in Fiverr and you got a good amount of cash flowing.