My next self-funded business hit $160,000 in revenue in its first year alone. After that first taste of self-made success, I’ve gone on to sign consulting contracts worth tens of thousands of dollars with startups like LinkedIn and Google, launch profitable online courses, and build a following of hundreds of thousands for this blog and my podcast series.
If you're serious about making money online, start a blog. Blogging is one of the easiest and most sustainable income sources. As long as the blog is setup the right way, in the right niche, with the right content targeted at the right audience, and the offer is complementary to the content, you could make a tremendous amount of passive income from a blog.
You can make extra money left and right if you just know where to look. If you like to ‘tinker’ I’d suggest going to the DIY section on Pinterest. You can find thousands of projects there to make, and you can sell them at a nice profit. You can make 20, 30, or 50 bucks at a time, in real money. Not the ‘get rich online now!’ stuff you see around. I make old teapots into lamps, or old shirts into aprons and sell them locally on Kijiji or Craigslist. It’s totally doable.
If this is the first time you are hearing about this, though, then we actually do not recommend trying it. The average skill level of players on the Internet has improved so much over the past few years that it’s virtually guaranteed that a new player will lose money over the medium to long-term. But hey, Ben made upwards of 6 figures playing online in poker in college, so we had to list it. 🙂
With $200,000 a year in passive income, I would have enough income to provide for a family of up to four in San Francisco, given we bought a modest home in 2014. Now that we have a son, I'm happy to say that $200,000 indeed does seem like enough, especially if we can win the public-school lottery to avoid paying $20,000 to $50,000 a year in private-school tuition.
Creating a jobs board website can be another profitable venture. The ‘jobs’ field can be quite saturated, so it is important to find a niche that is still crying out for a jobs board website. Monetize this type of site by charging businesses to list their jobs on your site. Those searching for jobs could also be charged a fee to access the higher paying job adverts.
Take surveys. You can earn $50 to $100 per month in cash and products by taking online surveys. Find survey sites by searching for “paid survey sites” online. Sign up for several survey sites to increase your chances of being selected for higher-paying surveys. Register with an email address, and check your email often so you can respond quickly to survey offers.
It's important to keep in mind that participants don't "qualify" for all surveys. Market researchers often want opinions from users who match specific demographics or who are in-market for particular products and services. If you attempt a survey that you ultimately don't qualify for, Swagbucks will give you at least one point in its rewards program. You know what they say: "A penny for your thoughts".
@Philip Taylor So by what you’re saying, I can be an unaccredited doctor or surgeon for someone (for example) but do it at a much lower rate than the accredited doctors and surgeons. Since I know what a scalpel is and I wear rubber gloves, I’m a doctor. So, I don’t have to have to respect the profession of medical science at all since I think I know what I’m doing and just go for it.
Work remotely for a call center. Because many call center jobs are location independent, finding work in this field is an easy way to earn some money from home. Dozens of sites list job openings for call-center representatives, including Freelancer.com and SimplyHired.com. Meanwhile, you should check local job listings for openings and opportunities as well.
Sometimes the best side hustle is putting in the time to get a better job. Investing in your career can have profound effects and help your earnings increase exponentially over time. Maybe one day you'll earn so much at your day job, you won't need a side hustle! I recommend browsing job boards like ZipRecruiter or even checking out a company like Pathrise. In their program, you will learn the all secrets from industry experts, armed with proprietary tools and data, to land a higher paying job and make more money.
I knew I didn't want to work 70 hours a week in finance forever. My body was breaking down, and I was constantly stressed. As a result, I started saving every other paycheck and 100% of my bonus since my first year out of college in 1999. By the time 2012 rolled around, I was earning enough passive income (about $78,000) to negotiate a severance and be free.
It is very important to understand that contacting a “professional” to learn how to do this only results in them trying to sell me crap properties (whether high end or low end). I’ve tried contacting realtors out of state, and they attempt to sell me crap or someone else’s problem. No one has a vested interest in actually helping someone or teaching them about how to get an out of state rental. very frustrating. I could go out tomorrow and buy a rental in my city, but that is the last place I want to own one. Anyone? Are there an real people on here?
Research individual companies in your desired niche: If possible, it’s always better to become an affiliate directly with a company (if they have an internal affiliate program), as no one else will be dipping into your commission rate. This is the preferred route for most of the prominent affiliate marketers, including Pat Flynn. Unfortunately, it’s also the most work, as you’ll have to do the research yourself to see who offers programs (they’re usually listed in the website footer).
With Izea, you are getting paid for whenever a company wants to advertise themselves through your blog and/or social media accounts (such as your Twitter account). You get paid electronically, and they always pay. They partner with big name companies such as Marriott, Netflix, Walmart, Kraft, Lego, and more. It's an EASY way to make money through your social media accounts, so I highly recommend you check Izea out.
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Selling clothes you no longer wear is a quick way to make some money. Start with local consignment shops for faster cash, or use sites like ThredUp and Poshmark to find buyers. If you go the online route, be sure to take clear, well-lit photos of your pieces and research similar items to set competitive prices. Get tips on how to sell your clothing.
Babysitting isn’t just for teens. Everyone from college students to recent retirees can make money watching other people’s children. Word-of-mouth referrals from friends and family are still a great way to get started, but you can also create a profile on Care.com or Sittercity to expand your reach. Note any specialized skills, such as CPR certifications or experience with special needs children, to make yourself more marketable.
Note: There are dozens of other survey sites out there. These just happen to be the more well-known ones that have a reputation for paying out in a timely manner and not having impossible standards for cashing out. As always, be careful with your personal information. I recommend using an entirely separate email address for survey sites so they don’t clutter your inbox.
I wish I had more time to put into real estate. Given the run up since 2012, I may even be interested in selling my condo that I currently rent out. I need to get it appraised to really see what it’s worth, but I think conservatively it’s gone up ~50%, although rent is probably only up ~10% or so. I am bullish on rents going up in the future… mostly in line with inflation, or perhaps even slightly faster due to constricted credit and personal income growth which should provide a solid supply of renters. At this point, I just don’t want to manage the property. I’ll probably look into a property manager as my time is likely worth turning it into a nearly passive investment.
You can also market your ebook on your own website or blog, particularly if the site gets good traffic. Still another method is affiliate marketing. You can offer to pay sites related to your ebook a percentage of the sale price – say, anywhere between 20% and 50% – for them to post an ad or linked article for your book on their site. This could enable you to market your ebook on multiple platforms for greater market exposure.
M1 Finance: M1 Finance allows you to modify your investment selections whenever you’d like, giving you the freedom to play a bigger role as an investor. At the same time, M1 does the work of balancing your investments for maximum returns. M1 charges no fees, not even trading fees, and it lets you borrow against your account with considerably low interest rates. Read more about M1 Finance in my company review and consider signing up for M1 today.
Now, how do you do it? Building a passive income will require some work up front, but choosing a method that plays to your strengths will yield the most success, and it can even become a fun hobby! Have an aptitude for photography? License your photos to stock photography websites. Or maybe you’ve always wanted to invest? Learn how with a robo-advisor. No matter what your strengths are, we’ve gathered 35 ideas for different ways you can generate passive income and build your wealth.
This can include advertising, but many businesses also need help just filling up their social media profiles with relevant (and consistent) content. If you enjoy learning about social media and want to take things a step further and make extra money, social media management is a great option. If you’re good at it, it can also open up a lot of doors for you down the road. This is a great article from Small Biz Trends on How to Start Your Own Social Media Business.
As someone who's been immersed in a number of online industries for quite some time, I know a thing or two about what it takes to succeed in this arena. However, just like you, I started at ground zero with little knowledge, but a great deal of passion. What I learned along the way were some invaluable lessons from failure that hurt at the time, but helped immensely in the grand scheme of things.
If you have experience as a personal assistant, secretary, admin assistant, or something in a similar field, then becoming an online PA may be a great role for you. Many professionals want someone to help organize their business and personal affairs. Jobs could include sending emails, managing financial affairs, booking flights and arranging day-to-day activities. If you are interested in this line of work there are many PA agencies that are crying out for reliable assistants.
Robert said he did an average of 4-6 of these gigs per year for a while depending on his schedule and the work involved. The best part is, he charged a flat rate that usually worked out to around $100 per hour. And remember, this was pay he was earning to advise people on the best ways to use social media tools like Facebook and Pinterest to grow their brands.
So, I put together a free master course for you to take that spreads out all of the work involved in starting a blog, into a series of action-packed lessons. My free course breaks the entire process of starting a blog down into an incredibly simple 7-day process for going from 0 to publishing (and promoting) your first blog post in just 1 week. I can't recommend it enough.