11 tips to build a passive income
Making money without ever lifting a finger. That is the promise of passive income. It may seem like a far-fetched idea, but it’s more realistic than you think. You will have to put some effort into it, but the amount of effort is up to you. If you want to generate a passive income in the future, take a look at our top 11 tips.
#1 Develop an online course or training
Share your expertise on a specific topic by developing an online training program. There is always an audience for your topic, whether it is about time management, helping parents with their baby’s sleep pattern, or programming. Once you’ve developed your course or training, you can sell it indefinitely with occasional updates.
#2 Sell your own e-book
Share your knowledge on a specific topic in an e-book. Although it takes time to write and promote your e-book, it requires less technical knowledge than launching a complete online training program. A strong e-book with valuable tips can sell itself.
#3 Join the sharing economy trend
Share your belongings and earn money. The sharing economy is on the rise and demand continues to grow. So why not take advantage of this and use an online rental platform? Nowadays, you can find a market for almost any product. If you want to rent out a part of your home to tourists, you can sign up on sites like Airbnb or Belvilla.” Or make someone happy – and they’ll make you happy too – with your car, swimming pool, grand piano, or diving gear. Want to know more? Discover here 7 interesting rental platforms selected for you.
#4 Invest in real estate
Investing in real estate provides high returns, but you need a substantial initial investment. If you are looking for a cheaper alternative, consider purchasing an apartment or small house in another country as a vacation home. Note that renting out is not always without worries. Do you want to rent out without any worries? Check out the possibilities on Meeting-out.
#5 Do dropshipping
Did you know that running an online store is one of the most popular side jobs worldwide? And what if we tell you that you can do it without working hard for it? Meet dropshipping, a trend that has gained popularity in recent years.
In the principle of dropshipping, the customer buys from you, but the product is directly shipped from the supplier. It’s a webshop without stock. And that offers several benefits. You don’t have to purchase large quantities yourself and you won’t be stuck with products that you can’t sell afterwards. Moreover, you don’t need space to store your stock, and you have expertly outsourced the shipment of the items. The only thing you need to do now is find a unique product that sells like hotcakes.
#6 Start a blog
If you enjoy writing about your passion, then blogging is your cup of tea. Blog posts about interesting topics can attract a large audience. How do you make money with this?
- Invest in affiliate marketing Discuss certain products on your blog and include a link to the product’s website. They will pay you a fee for every click to their website.
- Sell sponsored articles or your own products related to the topics you write about.
- Place ads on your blog (via AdSense, for example) and get paid per impression or click. However, to really make a significant income, you need a well-functioning website with a lot of visitors.
#7 Rent out your home for meetings
Let your home make money while you work. Via Meeting-out, you can easily rent (a part of) your home to companies for meetings. You decide when to rent and what the price is for your meeting location. And because you are renting your home for meetings – not overnight stays – the preparation for a booking is minimal. Want to know more? Discover everything about renting via Meeting-out here.
#8 Invest in a company
Okay, we admit it: it sounds much less sexy. But investing in a company that is looking for (start-up) capital can be a smart move. Choose one that you see growth potential in and earn money by sharing in the profits. And all without having to work yourself! Sounds like a win-win? Then the ‘Winwinlening’ from the Flemish Government is probably for you. It is a subordinated loan with which Flemish individuals can invest tax-efficiently in Flemish SME’s. More about the ‘Winwinlening’ here?
#9 Print-on-demand
The principle is simple: you sell products that you have designed or made yourself, but you only order them from your supplier when your customer has purchased the product. In that sense, it is very similar to dropshipping. So what’s the difference? With print-on-demand, you sell original products. Think t-shirts, phone cases, posters, or postcards with your own designs.
#10 Sell photos to stock websites
Are you a photographer (in the making) with a good camera? You can create an additional passive income by selling your work online to websites such as Pexels and iStock Photo. They pay for high-quality photos and videos, and here’s an advantage – they handle the marketing for you!
#11 Sell digital products
Are you creative, musical, athletic, financially expert, or a technical genius? With any talent, you can develop a digital product to sell. Think of video footage, music, software, spreadsheets to manage your budget, personal trainer training schedules, templates for managing your schedule… And if you play it smart, you can sell the same product to multiple customers. Welcome to the wonderful world of passive income!
Do you like the idea of generating passive income by renting out (part of) your home to businesses for meetings? Become a landlord on Meeting-out today and enjoy these 5x early-bird benefits.
