We at addrevenue have for several years enjoyed evaluating various sources of income online that are to some extent passive. Maybe it's because we ourselves dared to think in terms of living an alternative lifestyle ourselves and indulge our entrepreneurial side? Maybe that's even why we chose to start our affiliate network?
We think that all this research we previously did in our spare time could actually result in a nice series of articles about various passive income sources. Perhaps these are some of the ideas you, as a reader, could treat yourself to trying out if you feel like building up an extra income or if you have a side project you're passionate about, but don't really have an idea of ??how you could finance it right now.
Vi kommer att försöka göra den här artikelserien till en tydlig guide för hur man investerar i sin tid i olika inkomstkällor online. Men först vill vi sätta tonen genom att diskutera de olika fördelarna och motivationen bakom att skapa en extra inkomst via nätet. En extra inkomst som på sikt kanske kan bli ett drömprojekt som man får spendera sin fulla tid med att förverkliga.
Why make money online?
Yes, why should you make money at all anyway? Freedom? Status? Fat cars? Yes, why not all of the above if you are now inclined in that direction? I
f we allow ourselves to be a little personal, it probably comes down to two things for us. Freedom and self-realization. Being able to build an alternative source of income from scratch, without being lulled into a system with a 9-5 job. Your own idea that you fantasized together. Your own lines of code that built the platform or your own words that people in this now read and get value from. To be a producing part of society instead of a consumer. Therein lies a great allure of developing alternative sources of income online that stand out from the way we have worked for so many years here in Sweden. What is your motivation? Feel free to send us an email at email@example.com and tell us about it, we'd love to meet like-minded souls.
What perks are associated with being your own boss and with being location independent?
Perhaps a leading question, but there are of course a huge number of advantages to being location-independent in your everyday life. A couple of very clear examples:
- You can handle errands, such as doctor's appointments and parent-teacher conferences without a thought of having to check with your boss.
- You can work from anywhere and get the geographic flexibility that so many strive for. Very instagram worthy…
- You get a 100% connection between your own effort, the exchange your effort gets, and the outcome that your work gives. You have no one else to blame, but there is also no one who can steal your glory.
- Being burnt out is often due to an inability to set boundaries and possibly not having the full mandate to create space for yourself. If you run your own business right, you can always sleep in until 11 or take two days off in the middle of the week because you need it. There is no one who can hold you accountable!
How do you determine what's a good way of making money online?
Now that we have concluded that making money online undeniably comes with its perks, it may also be good to put on a proper pair of glasses on how to evaluate the different ways. Each person is unique and has unique strengths, this should be taken into account when assessing which avenue to explore first in your journey to making money online. When going through the ways to make money online, it is important to assess the following aspects:
- Commercial upside Initial time commitment
- Degree of passivity (after the income source is built up)?
- Cost-effective to implement?
- Sustainable income over time?
What different ways are there to make money online?
Here below, we will compile a shorter list of perhaps the 13 main sources in our opinion to make money from. We will over time dive deep into a couple of these and write separate articles to really give you who solve this an opportunity to try it yourself with all the tools available. But just by getting a first glimpse here via the article, maybe the seed that starts your journey can be sown? It would of course be extremely fun in that case. High five!
1. Affiliate marketing
Ad links on your channel/domain simply. Either you get compensated for the click itself or for every 1000 page views on a banner, but as a rule it is a conversion (a purchase, completed form) that gives you compensation from the company. What should be considered here? To highlight only advertisers that are relevant to one's readers. How do you do this in a cool way without eroding your own brand? Same as last really, Is there any money to be made? Definitely. On a small scale, it can be a few thousand per month, but when you reach the level, it is of course a multi-million dollar industry. We naturally recommend that you run through us at addrevenue.io, we are already present in 28 countries and growing extremely fast.
2. Youtube channel
Pretty obvious to most people I think. Starting your own YouTube channel that you fill with exactly the type of content your heart desires. After you reach a high enough level, you can turn on advertising on your videos and earn money via Google AdSense. You can also switch on affiliate marketing and recommend products that fit your content in the description below the clip.
This is also a fairly well-known phenomenon for most people today, I guess. Starting a podcast within a specific niche, how you build an audience and what commercial effect this can have is very interesting. You build a close relationship with your followers given that it is a longer format where the listener really has time to get to know the creator. Sponsorship is the main way to make money here for you as a creator.
4. Writing and selling E-books
Are you an expert in an area that many people could benefit from learning more about? Write a book about it and sell it via Kindle or similar platforms. Write it at one point and let it sell itself as part of your other entrepreneurship. Another chance to create familiarity and relationship with your followers.
Blogger, Wordpress, Nouw or your own domain perhaps? This is a classic format that trains you as a creator to express yourself in writing, SEO-optimize content and start getting paid for the commitment you have to a specific area. To make money blogging, you can connect to AdSense, affiliate marketing or make sponsored posts. But you should be careful about having too many sponsored posts, as the followers usually don't appreciate this.
To sell other companies' products (many times Chinese products) via an own e-commerce. However, you bear no responsibility for storage or shipping to the customer. You simply get access to the company's marketing material, which you can then use on your own site. After that, you can calmly drive traffic, build a customer base and hopefully make a profit. A relatively common phenomenon in the last three years among younger entrepreneurs.
7. Online courses
Are you an expert in an area that many people could benefit from learning more about? Do a course on the subject and receive compensation for your knowledge. This is an exciting topic that we ourselves are passionate about should be recognized. Do you have cutting edge skills? If not, can you team up with other talented people and do a course on their topic? You don't need to build your own website to upload your content, but can use Udemy or Skillshare.
If you run your own site, you are sometimes approached by companies that want to make sponsored posts on your blog, these are called advertorials in the industry (mix of advertisements and editorials). How to think here? Is it good for your brand? Is it possible to make passive income from this?
9. Amazon FBA
FBA here stands for Fulfillment By Amazon. In short, you as an entrepreneur have a product, let's say toothbrushes, and let Amazon sell these for you on its platform. A form of reverse dropshipping so to speak. You avoid inventory and marketing costs to drive your sales, but on the other hand, Amazon takes part of your profit.
Fairly self-explanatory but this is of course something that is more common than ever given the new working life after Covid-19. You can often take a higher fee than you would normally as a wage earner, this because you do not have the same security as with a regular job. More jobs than ever can be done remotely and therefore this is a very good way to make money online. But you still exchange your time for money.
Shopify, WooCommerce, Magento. Dear child has many names. But the E-commerce sector continues to grow incredibly fast and it is an incredibly stimulating way to build good knowledge. You learn marketing, warehousing and a lot of technology. There is also huge money to be made in case of success, but it requires a certain financial investment upfront if you are going to sell physical products. If you want to help drive traffic and sales to your e-commerce, you can connect to affiliate marketing to get performance-based collaborations with talented publishers.
Every other teenager's dream job today? You can run through a multitude of platforms, build an audience, and then plug in affiliate marketing or other sponsored content. YouTube, TikTok, Twitter, Facebook are some of the platforms you can run through to build your audience.
13. Creative work
Are you a musician, video editor, graphic designer or photographer? There are several different ways to make money this way. Either you can consult via a platform like Fiverr or Upwork. Or you create material that you then sell via platforms like Shutterstock and so on. A nice little side job, but hard to make huge sums here.
Making money online comes with great benefits for individuals, whether it is part-time or full-time. Who hasn't dreamed of making a mark on the society we live in? Crossing the line from employee to entrepreneur? There are several different ways to make money online that don't require much effort or capital to get started. What are you waiting for?
Which passive income source attracts you the most? Is there someone you're missing from the list that you'd like us to dig a little deeper into? In that case, please email us at firstname.lastname@example.org. And of course don't forget that of course we recommend becoming an affiliate as a first step in the journey to finding sources of income online. Do you have an Instagram account today? Good, then you can get started as an affiliate right away.
No matter which path you choose for your own journey to making money online, you should be proud of yourself for taking the plunge and daring. Many will doubt, so don't forget to pat yourself on the back just for taking the plunge. Most people dare not do it.
Thank you for your attention and we hope you will hear from us with your thoughts and opinions!