5 High Cashflow Passive Income Ideas
Tags: Passive Income, Startup, Productivity, Personal Finance, Life

Medium is flooded with resources on how to create passive income and get rich-quick ordeals. With clickbait-y titles as shown below, many are led to believe that establishing passive sources of revenue and creating financial freedom is extremely easy.

It is essential to keep in mind that the ideas mentioned below require a lot of initial sweat-equity, dedication, patience, and discipline to turn into passive income. Turning side-hustles into something that can replace your primary income or even create sustainable income is undoubtedly more straightforward today than it was a couple years ago, but it is not as effortless as we are led to believe.

Keep in mind that once you achieve success in one of the places mentioned below, it is easy to send your audience to other products or services offered by you on an entirely different platform. This is an example of utilizing brand recognition to your advantage.

Stock Photos and Videos

If your talent is photography or videography, this is a great way to earn some extra money. Stock photos and videos are used by content creators, entrepreneurs and business owners. It requires uploading your pictures to one of these platforms consistently to be used by consumers.

iStockPhoto: https://www.istockphoto.com/

Dreamstime: https://www.dreamstime.com/

Shutterstock: https://www.shutterstock.com/

Flickr: https://www.flickr.com/

Getty images: https://www.gettyimages.com/

Black box: https://www.blackbox.global/

Visual Society: https://visualsociety.com/

Build your own blog or website

For blogging, I recommend leveraging a well established platform with built in users (your potential future audience), such as medium and wordpress. It’s simply easier to reach a wide variety of audience on these platforms. Once you build a community of supporters on these platforms, then you can funnel them to your personal blogging websites in future.

Another way to earn money through blogging is by creating your own website and posting your blogs on there. Unless people are already aware of your brand, the challenge here is marketing. How will you ensure that your stories are reaching the target market?

Once you have established a fair amount of readers, the most common ways bloggers make money is through placing ads on their sites. The most popular network for placing ads is Google Adsense. Bloggers earn money through Cost per Click (CPC) ads or Cost per Thousands (CPM )ads.

If you end up with enough traffic, private companies and advertisers may approach you directly to market their product or services. For many bloggers, this is the ultimate goal because it gives them the freedom to their own ad rates and negotiate based on the value-added to other businesses.

Online Courses

The idea of online courses as a source of income has become widely popular.

“One of the fastest and most impactful ways to get your knowledge out to a global marketplace, making a bigger impact and making more money, is to download that knowledge lying dormant in your brain and turn it into a lead-generating, money-making, impact-creating online course.” - Thinkrific.com

Along with everything else mentioned above, your ability to earn is determined by you and your efforts. Do you have a clear understanding of your target customer and market needs? If not, are you willing to put in the effort to conduct market research to determine your place within it? Is your online class offering value to society and solving a key problem that others face in an unique way?

It’s valuable if you can find a pain point in society and share your knowledge around that in solution format.

Creating and marketing course takes a substantial amount of time and effort that you must be willing to invest to reap the reward of the new American dream — having passive sources of income.

Below are some of my favorites places, where you can publish your online courses:

Udemy SkillShare Alison Coursera

Create eBooks

Similar to online courses, creating an ebook requires a ton of initial effort, but once you establish yourself as a subject matter expert in the field you write about — the sky becomes the limit for you.

Some steps as creating an Online courses apply here: choose and plan your ebook topic, create your content, choose the right ebook format, choose the ebook creation software, and publish your final product! For more upcoming details on ebook creation software and tips — follow modernMeraki!

Youtube

You can consistently upload your videos on Youtube and make passive income through youtube monetization. Youtube is one of those platforms, where it is hard to achieve success but once you do so — you can funnel your viewers to your ebooks, online courses, blog, etc.