I got to know about passive income opportunities as far back as 2015 and since then I make #150,000 to #250,000 naira every single month.
When I tell people I make this much money every month doing next-to-nothing, they roll their eyes and give me this look of start disbelief. Personally, I don’t care what they think, so long as my money continues rolling in.
A few people have put aside their doubts though and come secretly to meet me and one or two have seen the truth in what I keep telling people (freely too).
There’s a lot of money to be made online, so much that you don’t even have to work so much to keep the money coming.
The internet is a money-making machine. Literally. If you know your way around it, it can make you a millionaire.
A Little Heads Up
I feel I should put this out there though, that while there are several passive income opportunities out there, making money online is not a walk in the park. It requires determination, dedication, and back-breaking hard work.
In the beginning, you will put in AL LOT of hard work and get very little to no results (and this is where most people give up), however, if you keep at it, you will smile to the bank soon and often too.
5 Passive Income Opportunities for Everyone
That being said, here are five good passive income opportunities anyone can start:
Blogging is the new yahoo-yahoo. Just kidding! Anyone who loves to write can make consistent passive income from this stream.
Blogging is so easy to start. All you would be needing are
– A domain name (and yes, I have a few outside of this free blogging platform I use)
– A hosting platform. Again, you can get a good hosting plan to be renewed yearly on Namecheap or Godaddy
– Lots of SEO-optimised content of at least 1,000 words.
Once you fill your blog with tons of useful content, you will see the money start to roll in.
There are several ways to make money from a blog
– Contextual Advertising (Google Adsense, Media.net, Mediavine)
– Affiliate Marketing
– Sponsored Posts
– Sales of Products or Services
– Freewill Donation
Lots of bloggers are making hundreds and even thousands from their blogs.
2. Self Publishing
I currently self-publish ebooks and paperbacks on Amazon Kindle Direct Publishing (KDP) as well as a few other self-publishing platforms for authors out there.
Now, while I use about three of these platforms, the bulk of my effort is concentrated on KDP and that’s because KDP controls around 90% of the self-publishing market.
All you need to do is write a book on a topic you are versatile in, format it for publishing, create a suitable cover, and upload it into the KDP platform.
Now, I’m not going to lie to you and say you will start to make money once you publish that first book. Heck, you might not even make a sale from it. There are secrets to making the big buck on Amazon KDP and one of these is the keyword.
Getting and writing on good keywords is 90% all you need to make it on the KDP platform.
Some tools can help you get your keyword research right and some of these to include:
– The Amazon search bar itself (You’ll be amazed at just how many keywords you can get from this bar).
– Amazon Huge Keyword Expander Tool (an addon that should be installed on your Chrome browser).
– – Amazon DS Wick View
– KDPRocket ($97 one-time fee)
With these tools, you can never get your keyword game wrong and you are well on your way to making money online via the KDP platform.
YouTube is a search engine and an online video platform. It boasts of 2 billion active monthly users, which means there is a huge potential for your video to be seen by billions.
Making money on YouTube isn’t easy though as YouTube requires you to have 1,000 subscribers and 4,000 watch hours within the space of 12 months to be eligible for monetization.
However, once you become monetized, and depending on the niche you are in, the sky is the limit to how much you can earn monthly.
This is one of the best passive income opportunities there is. While most people might not see it as such, it fits perfectly as passive income is any activity that continues to earn you money consistently from a one-time effort, without you needing to give it 100% of your effort.
The best part about investing is that your money continues to grow at a compound rate, surprising you at just how much you can earn under five years.
There are so many investment opportunities out there but a few you might want to look into are Piggyvest and Bamboo.
5) Invest in a Business
This is yet another passive income idea most people overlook.
The best part about investing in a business is that most times, you aren’t required to contribute to the running of the businesses. You need only contribute financially and the day-to-day dirty work gets done by someone else, leaving you to pursue other business opportunities.
To get started, though, you would need to exercise some caution and invest only in businesses with proven success records so your money doesn’t go down the drain.
The best part about passive income opportunities is that you can have not just one, but a few set up at the same time.
However, I would strongly record you start with just one and nurture it to the point where it can stand on its own, before looking to include another. This way, you don’t stretch yourself thin and get frustrated along the way.