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I’m not going to lie; passive income ideas are something I’m looking into it. Being a blogger, I know we must diversify our blogging income, but passive income means an income that comes from an asset you created and you don’t have to continuously work on it.
Pro-bloggers have multiple options to generate passive income; when they diversity blogging income, they add additional income streams to their blog. However, it doesn’t necessarily mean every income stream is a passive income.
Some bloggers and niche site owners define a passive income as an income that gets generated pretty much on an auto-pilot. However, many other bloggers and niche site experts don’t agree with the auto-pilot part. Perhaps, because you’d have to keep an eye on the income streams from the management standpoint. The good news is that it’s not the point of this blog post.
What we should look out for is how we can find the best passive income idea to make money online. Simply put, all we need to do is come up with an asset or an entity that does the money-creation job for us.
Robert Kiyosaki defined an asset and a liability in his wildly popular and best-selling book “Rich Dad Poor Dad.” According to him, an asset is the one that brings money into your pocket, and the liability is the thing that takes money out of your pocket.
So, for instance, if you buy a car and give it to an Uber driver, it means that the car is an asset for you as it’s generating income for you. On the contrary, if you buy a big mansion that has so many monthly expenses, it turns out to be a liability for you as it’s taking money out of your pocket every month.
Reading Rich Dad Poor Dad changed my perception of assets and liabilities. Therefore, I’m paying close attention to what I learned from that book, and creating passive incomes is the aftermath of reading that book.
Furthermore, I want to deliver value to you as well through sharing multiple passive income ideas.
If you have been thinking to generate passive income online, then take a look at the following passive income ideas:
1. Medium Partner Program
Medium Partner Program is a monetization method of the Medium platform. If you aren’t familiar with Medium, then you must know that it’s a freemium content publishing platform. Back in 2019, they introduced a partner program that allows writers from a select number of countries to earn money on the Medium platform.
It’s important to know how the partner program works as it’s not crystal clear to an average user. According to Medium eligibility criteria for a post to make money, a post would make money depending upon the time readers spend on reading that post. The more they spend time reading, the more you earn. Furthermore, if a paid member spends a percentage of their monthly reading time on reading your posts, you’d receive that percentage of their fee.
I won’t be surprised if you think it’s a little bit confusing, but it won’t be a bad idea to try it out. I haven’t tried it yet because it’s not available in Pakistan. One of the reasons the Medium partner program isn’t available in many countries such as Pakistan, India, and Bangladesh is because they pay out through Stripe, which hasn’t started operating in the above-mentioned countries.
Lastly, if you’re eligible to participate in the Medium partner program, make sure to use your full name that matches your ID card or driving license or bank account. Stripe doesn’t allow users to use pen names.
So I’m sure some of you would be happy to start earning a passive income through Medium.
2. Quora Space Monetization
Quora Space is a newly introduced feature on the platform. They replaced blogs feature with space. What it does is that it allows you to post a status or Quora questions/answers with the space community. Consider it as a Quora’s version of the Facebook group feature.
It’s exciting that Quora has made Quora Space feature monetizable. All you need to do is go to your “earning” section in the Quora space and get enrolled in the program.
You’d find out whether or not you’re eligible to participate in the program as it’s available in a select number of countries just yet.
As far as a passive income is concerned, you can earn a passive income with your Quora space if you’re quite active on the platform.
3. File Sharing Websites
If you think file-sharing websites were only popular back from 2012 to 2014, then you’re wrong. They’re still popular; maybe, the majority of us stopped paying attention to them. I have a first-hand experience of earning a passive income from one of the file-sharing websites that don’t exist today.
Well, it’s more difficult to earn money from file-sharing websites as compared to 10 years ago. The point is that you can pull this off if you play it smartly. I wrote a blog post about the websites that pay for downloads. Check that out and come up with original content to distribute through file sharing. The biggest mistake starters make who start working on file-sharing websites is that they use copyrighted content, which infringes the copyright laws.
What they should do instead is create something that people want and they also own the rights to distribute, which means you must own the product. It could be a web theme, excel template, software, plugin, ebook, or worksheet. It has to be something that a segment of the population needs and you can offer them for free. If you’d be able to come up with a useful product to download; the audience will find out about it and download it like crazy.
4. YouTube Partner Program
YouTube Partner Program is quite popular among all on the list. A lot of creators start YouTube channels just to make money from videos. However, the majority of them end up frustrated as they only chase money instead of passion, but that’s not the point.
We’re discussing passive income ideas so YouTube could be a source of your passive income if you create videos that people want to watch. You can monetize your videos and make money off of YouTube.
The eligibility criteria require you to be from the country YouTube offers its partner program in as well as you must have 1,000 subscribers and 4,000 watch hours in a year. Once you cross this milestone and your country is in the accepted countries list of YouTube Partner Program, then you’re all set to make money on YouTube.
5. Facebook Page Monetization
Facebook pages can be monetized and you can certainly make money from videos. However, you must pass and remain compliant with Facebook’s Partner Monetisation Policies. There are some requirements to be able to start monetizing your video content: you must have at least 10,000 followers, living in a country eligible for in-stream ads, and must be, at least, 18 years of age.
I haven’t dug deep into Facebook page monetization yet, which is why I can’t discuss it further. You’re welcome to check it out and hop on if it suits you.
6. Stock Photography
Selling stock photography is something I’m very much interested in as it’s easy these days with the iPhones and Android phones in our pockets. Anyone with a little bit of interest in photography can sell photos on a stock photography website and make a passive income through stock photos.
I’ve sold my first stock photo on a stock photography website, and I’ll be discussing more stock photo websites that you can join to earn a passive income in the future.
All it takes is a passion for photography and you can make it happen. I joined Shutterstock to sell my photos; you can join this website as a contributor too.
7. Create a Course
Creating a course is a perfect example of a passive income; you put in the work once and reap the benefits for a long period. You may need to upgrade the content or add new lessons to the course after a year or so, but it’s not essentially the concern here. A lot of course sellers don’t upgrade their course because they don’t need to.
If I were to create a course for a passive income, I’d launch it on Skillshare as it’s one of the most popular sites for online courses. You can read the Skillshare review as well. Furthermore, you can try out Thinkific, WP Courses LMS, or LearnPress.
8. IGTV Monetization
IGTV is Instagram’s vertical video platform. After a recent update, now users can monetize IGTV videos. They’ve initially rolled out this monetization update to the US users only, but eventually, it’ll be available to other countries in the future.
So IGTV could a source of earning a passive income, especially if you’re comfortable on the camera and like to make videos on the internet.
It took a while to complete this blog post, but it was worth it.
The idea of passive income generation is so catchy to me that I couldn’t resist it. Perhaps, the reason I wrote about passive income ideas so passionately is that I have been paying close attention to generating passive income in different ways, and this was my way of bringing my readers along.
Let me know if you learned anything about passive income or if this blog post sparked any passive income idea in your mind.
I’m so much interested in trying out different ways to earn a passive income.
What passive income idea did you like the most?
Let me know in the comments below.