Products to Create for Passive Income
Creating products for passive income proliferation is an excellent way to get past the whole idea of working trading hours for dollars. All of us are programmed to work eight hours a day for a wage or fee, but it doesn’t have to be that way. One of the oldest passive income ideas is rental income for real-estate, but today you can earn passive income online right from home. Here are some ideas that work well.
* Create Apps – Even if you don’t know the first thing about code you can find freelancers willing to create your product for you to spec. Come up with an idea for your audience, then run it by a coding expert. You can find them on Upwork.com, and even place an advertisement on Craigslist.org if you prefer.
* Write EBooks – Today, publishing your own books is a great way to make passive income. You can write it yourself or you can hire a ghost writer to do it for you. You can publish eBooks on Kindle for free. Or you can, for a fee, use CreateSpace through Amazon to publish a print book if you like.
* Run a YouTube Channel – Did you realize that some people make thousands of dollars a month with popular YouTube channels? If you want to break in, you don’t need to be fancy. You simply need to find a topic that is popular, and present it in a way that people like to watch. You take a share of ad revenue.
* Create a Paid Directory – Software is available that allows you to create a directory website that is run practically automatically. The people put their information on the directory for a fee, then you simply approve them or not. Approvals can even be automated.
* Develop ECourses – With websites like Udemy.com popping up all over the place, you can now create your own eCourse and get paid for each person who signs up to take the pre-created class. This is passive income at its best. Outside of updating outdated courses, you just publish and collect.
* Create an Information Product – An info product is one of the oldest forms of passive income on the net. Simply create a product that teaches someone how to do something that you love, or provides a collection of information for them that they want, and you’re in business.
* Make a Membership Website – People love to be exclusive and feel as if their part of an inner circle. You can charge a monthly fee to allow people to be part of your inner circle if you have enough information to share with them. Add in a forum and a lot of people stick around just for that.
* Run a Website/Blog – Blogs and websites that are active have content that goes up on them daily. The content is free to read and advertiser supported via ads and affiliate products. But, you can create a pay-to-read website and blog as well. It’s up to you.
While creating these products is not actually “passive” in that you still have to do some work, collecting a big pay day later when other people promote your products as affiliates will feel as if you didn’t work for it.