Published on February 13th, 2019
Who wouldn’t love to wake up one morning getting SMS about an influx of cash credited to your bank account?
Is there anything better than making money while you sleep? Sounds crazy?
But, there’s always a possibility of generating passive income to help reach many of your family goals which you have set for yourself.
Yes, passive income gives you the freedom of living or maintaining a lifestyle of your choice.
10 Passive Income Strategies To Implement In 2019
To help you boost your bottom line 2019, here is a list of 10 passive income strategies that would keep money creeping into your bank account regularly.
1. Affiliate Marketing
Affiliate marketing is when you create a website or blog and feature brands and products on the same. If someone goes ahead and buys a product according to your link then you get a part of the earning.
What is interesting here that even if you do not want to set up a website you can earn well using podcasts, YouTube videos etc.
2. Display Ads
On your website, you can even publish display ads which visitors can click and make their purchase. You would have to get in touch with an advertising network which would get such ads on your website or blog.
The returns of such display ads can be decent enough for anyone to earn well.
3. CPC Ads
In case of affiliate marketing, you get paid only when someone makes a purchase from your link. However, in case of a CPC ad you are allowed to earn when the visitor just clicks on the link.
Though the payout may be less if the footfalls are good the cumulative earning increases.
4. Selling Leads
Companies are always on the lookout for prospective customers who they can pursue for future business. If you are able to sell such leads to them you are earning quite a lot of money just by sharing some information that you have.
You yourself do not have to do much work by yourself and that is definitely a plus point.
5. Course Sales
Have a skill and want to share everything about it then convert it into a course and sell on your website. The topic could be anything on freelancing, marketing, designing but should be something which is top on people’s list.
Though writing one is not at all easy and you have to put in too much effort to first compile it. However, once you have prepared one and marketed it well you can earn a decent amount by selling such courses to prospective customers.
6. Digital Products
Apart from an online course you can even write ebooks, instruction manuals, and similar products and put them up for sale on the website.
This does not require much effort and even if you keep it at a moderate price you would be able to earn decently enough. This, of course, means that you know how to put its need across to the customer.
7. YouTube Ads
Though YouTube ads are not a huge source of income if you have a couple of videos rolling out every week then you can definitely expect a good cash flow.
Moreover, YouTube videos are watched on a regular basis and some users create regular content. For them, this money is just like an additional cash inflow.
8. Financial Guidance
If you have learned the art to make easy money from the above tips why not share them with others too. Start by building up the business and look for ways to generate quick leads.
Once you have settled down and generated enough curiosity your work is limited to only guiding the people and making money in the process.
9. Dividend Paying Stocks
Though it takes some amount of confidence to do well in this field, once that happens you are well on the way to achieving quick success.
Most investors are able to earn quick profits by investing on a regular basis. However, you should be open to investing some money in the beginning and also learn some tricks of the trade too.
10. Selling Your Business
Though this is tough it ensures that you have a huge amount coming in your account. First of all, you have to make a business strong enough so that someone is willing to pay for it. Once you have done that you can willingly sell off your business and take the payment either in a lump sum or in monthly installments from its earnings.
If you’re still thinking “there’s no such thing as passive income,” you’ll never start the journey to build passive wealth that increases over time.
Guys, staying stuck to a schedule based job can be tiring after a point of time. Go ahead chuck the job and look for passive income options as the ones mentioned above. Initially, every business needs hard work; however after initial period is over, you can relax and earn easy money.
2019 could be the biggest year for you to start generating passive income streams.