Money without work? probably everyone agree immediately. But if it were so easy, probably everyone would generate only passive income, the real work hanging on the nail and only watch as the account balance increases regularly. In this post we will explain what exactly passive income means, what you must be aware of and what possibilities are available to you…
What does passive income mean?
As active income, the type of work is called, the follow up to most people. The idea is simple: you provide your workforce – in the form of time, mental or physical abilities – and receive a correspondingly negotiated payment. This applies both to employees who receive a corresponding salary for the number of hours stipulated in the employment contract and also to self-employed persons who receive a fee from their employer for their work.
Passive income works differently; there is no direct return from you to earn money. Whether you’re traveling and lying by the pool, surfing the internet and watching cat videos or playing sports, passive income is self- evident, even if you do nothing at all.
Unsurprisingly, passive income is the dream of many people. No more stress in the job, no annoying colleagues, exhausting customers or complaining bosses and at the end of the month – still enough money in the account to pay all the bills and incidentally even put aside something to save on larger investments. The seemingly perfect life, money without work and every day as much free time as you want.
Sounds like a dream – and in this post it is unfortunately too. It is difficult, if not impossible, to earn a living completely without work. After all, you have to build something up first, then make regular revenue and the way to go is long, exhausting, and usually a lot of work.
Added to this is the problem of maintaining passive income. Your idea, your project, or even your passive income-earning business might still be starting to throw off some money at the beginning, but most sources of revenue will quickly subside as soon as you stop paying attention.
Only investments – such as in stocks, money in a savings account or rented real estate – can be considered more or less as a pure passive income, which really requires almost no further effort. But for this form of passive income, you need the starting capital.
The more realistic approach, therefore, is to consider passive income as a source of income that initially requires at least as much work as a normal active income job, but less effort afterwards. As beautiful as the dream may be, without work you will not end up in the finish line – unless you win the lottery or inherit a fortune.
6 examples with which you create passive income
It takes a great deal of motivation and initiative to get to the point where an idea or a product makes money – and then it has to be fit to generate a passive income without your further work.
We have listed six examples of passive income, which show you different ways to make money in the long term without having to invest new work over and over again. Please keep in mind that while these may work, they are by no means a guarantee that you will be able to earn your living solely through passive income.
Operate multiple websites
It is not about creating the largest page on the Web, but rather running a lot of small websites that each relate to a very specific topic. If you always end up on the front Google rankings for different search terms and make money on each page through advertising, all you need to do in the long run is to maintain good search engine performance.
For this purpose, information pages on specific topics, affiliate websites are particularly well suited. These should be reasonably extensive and good to be found, but will later have a smaller amount of work simply consisting of updates and SEO optimizations. Of course, it is also important that a corresponding search volume is available to even get readers on your website pages.
Work digitally
The advantage of digital work and products is that they are almost infinitely scalable. You can offer the best advice or instructions in a field or skill, as long as you do it yourself, your income is always active and limited to the time you can invest.
If, on the other hand, you succeed in digital marketing with advice in the form of your lessons, you can not only serve hundreds of customers at the same time, but you also have to look after your own marketing and video shooting.
Write a book
Whether it’s classic on paper or the modern twist on an e-book, it’s not a breeze to write a good book that tackles a thrilling topic and encourage readers to buy, and once completed, you can earn passive income. With every copy sold, you will earn more money and the possibilities are endless, not only in terms of topics, but also in design and marketing.
Develop an app
Everyone runs around on a smartphone or tablet , constantly looking at the display and installing a wide variety of apps. If you are good at developing a successful app, you can not only benefit from passive income, but make a lot of money. It does not have to be the next Instagram or Pokemon Go, even smaller apps without hundreds of millions of users can bring steady income.
However, this path requires development knowledge or a partner who takes care of the technical side while you take on another part.
Design your own
Whether on T-shirts, coffee cups or as a framed picture for the wall: There are many platforms on the Internet where you can use your own designs to generate passive income. With the necessary creativity and a bit of talent, you will meet the taste of as many customers as possible and make extra money on the side.
Create Youtube videos
The stars of the scene show that it can be a million dollar business, but even with fewer followers, you can build a passive income through Youtube. Whether informative videos, funny content or something completely different: as long as clicks on your videos are fair, you will continue to make money with the switched advertising, even if you have long since turned to something else.
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