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Who doesn’t want to earn money while sleeping, not doing any work?
I have been working for quiet a long time now. Throughout my career, I focused on building a passive income that would generate me some money while I’m relaxing or out on a vacation.
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This type of earning is best for me and I have to do the work for one time only (a really good work). My one-time hard work generates me income for the years to come.
In my offline business also, I’m doing the same thing.
I have been inspired by a lot of people and books to make passive income rather than burning out by working the whole day.
And so I’m here myself to make you inspired by giving you some passive income ideas.
How Profitable Passive Income Is?
You must have come to this article
So you don’t want to work actively, rather earn money passively.
Entrepreneurs are the people who are expert in this matter. They will do the work only once, but they will develop a way which generates them income for a lot of years.
This is the Recurring Revenue Model.
Your earning will depend on your approach for the passive income. If you are doing something big, something problem solving for the common public, then your income will be high.
Let me take an example:
A doctor, a lawyer, an accountant will earn money till they actively do the work. If they take a day off, they will not earn a single penny for that day.
And an Entrepreneur will develop a business method that constantly makes him money.
Let’s finally dive right in:
#1. Build an App
Application Development is today’s hype, especially in a country like India.
In your phones, you must have installed a ton of apps, and all these are third part apps. So why not start building an app?
You can start building an app today but you must remember that you will not get a lot of templates for the type of app you want.
My friend is also involved in application development and he is literally earning $6000 per month by just using Adsense on it.
And a fact that Applications have a high potential to be viral. MX Player is an example which instantly went viral.
Look, every thing requires some investment. Initially you have to spend Rs 2000 to publish your application on Google Play Store. From there only people are going to know you.
You have to remember one thing, give the best possible value to your users and don’t do spamming ever. If you do this, then you will lose your reputation and next time no one will trust you.
You can learn the basics of app development and how to start it on Buildfire.
#2. Start with Milyin
You must be wondering what Milyin is.
Yeah, actually it is my vision only.
Notice, I said my vision not my business.
Milyin devotes to creating a world of people who follow their passion without worrying of income. Milyin is a Content Creation platform for representing your thoughts and opinions.
I want people to start engaging their thoughts, their beliefs on this platform. It is not only a platform, it is the way by which you can start making money from the very first day and get paid eventually.
I and my friend, Aditya, actually started with this platform considering the spamming on the internet, make money by just clicking and signing up and all that.
We actually want to eradicate this thing. So we followed our passion and started with Milyin.
Now to talk about earning part, you earn on Milyin by writing articles. If you write good quality articles, you will be paid higher of course.
If you write a spammy and copied article, it will be deleted from the site in no time.
We pay you on the basis of length of your article, on your ideas, on the kind of images used and how much visitors you receive to your articles each month.
And remember not to publish any kind of violent or offensive content.
We have added a lot of functionality over there and recently we have introduced a chat option from where you can contact the good players who are already earning a good amount of money.
Also Read: Top 9 Ways to Earn Money Online in India
#3. Write an E-Book
Do you know how much potential an E-Book has even now in 2019?
It was the one of the best ways to make passive income and will continue to live for further years.
So don’t consider this way an obsolete one.
But one thing you must remember first is to provide the best possible value to the readers.
If you just write crap and it is not to the point, then you will not be able to sell your E-Books passively.
I have indeed written many books and nowadays one is also under process.
And also design the cover page in such a way that it is attractive and people are looking for the same thing.
I must recommend you to write an E-Book of at least 30000 words. Now don’t be afraid, if you really want to share your knowledge with other, you will end up writing more than this.
As you all know, the best place to sell your E-Book is Amazon.
You must have your first sale of the E-Book in the first month itself.
Jim from Income School wrote an E-Book about 8 years ago and even now he is making more than $5000 a month.
This is the one time work scheme.
#4. Make your Passion Passive
We have a line quoted on Milyin
It’s the Passion that Matters!!
If you are interested in a particular thing, if you like to do it then why not perceive it as a business.
Every successful person pursued his/her passion and that’s why they are earning a huge loads of money.
One example is Elon Musk. Though he is a very big entrepreneur, but when he started out he had a devotion, he had a passion to perceive his dreams.
And TaskDream is the perfect place where you can get assistance regarding the money making model through passion.
I also started Milyin as my passion with my friend.
Now what you can do is start out by selling courses on the subject in which you are most interested in.
If you feel that you are the bestest in a particular thing, then go for it.
You can start out by selling courses on your website or through YouTube.
Or you can sell your courses in your local area through some branding and Google My Business.
This would be enough for the start. Once you achieve a fan base, they will come to your site and will continue to purchase your products even further unless it is not outdated.
#5. Look out for Best Stock Options
Actually, you can make much more money by investing in right stocks as compared to the interest you get on your bank balances.
You have to once in a week check out for the best stock option in India using the app named “Groww”.
It is a very great portal using which you can look out for the analytics of the stocks which are growing and which are going further down.
Invest in those which have high proximity of growing in the years to come.
Just like the Huawei’s stock. It has grown at a tremendous rate in the past years.
You can learn more about investing in stocks on Nerdwallet.
#6. Enter Blogging Arena
Blogging is perfect for you if you are good in expressing your thoughts, you really want to work and you are really consistent in your work.
Blogging has totally changed my life and now I can say I’m a full time blogger.
It is the main source of income for me but there is a long way to go.
You can too start blogging today but you must keep in mind that consistency is the key to success in blogging.
If you are a lazy guy then I would not recommend to enter in this field.
For starting a blog, you need to register a domain name and purchase a hosting. For this I have given the bluehost link in the sidebar from where you can purchase at some discount.
It will not cost you more than Rs4000 for a whole year and of course it has a lot of scope.
You have to pickup a domain name which is related to the niche in which you will start blogging.
There are a number of steps which are essential for you to remember while starting a blog.
I know this will take some time but the result will be a fruitful one.
So I recommend you to first read this guide on blogging and then take your step.
Just Don’t give up if you see no result. Keep on trying and one day you will achieve your desired mark.
#7. Start a Coaching YouTube Channel
You must have noticed that there are people who open a YouTube channel for teaching only.
I must say that it is much better than the regular teaching in schools or colleges.
Students, as per their wish, can always open your videos and learn from them. Online teaching is the fastest growing industry in the education sector.
There are many YouTube channels which teach the syllabus of a particular class which they know of.
They just upload all the videos in a course of about 3 months and then start to make money passively from Adsense.
You can also start similar channel on any subject you feel that it is necessary for the students and very less content is available.
You just need a camera (smartphone camera will work), a good quality mic and consistency win uploading videos.
And make sure that your thumbnails clearly suggest what the topic of your video is.
#8. Rent a Room in Your House
What could be better if you have a spare room and you can rent it out on your wish?
Renting your room is another good way for cashing yourself in a long run.
If you live in a big city and you have a spare room, then I recommend you to join Airbnb.
You set all the rules, you give the check-in and check-out timings, you set the rates at which you want to provide it on a daily basis. You are the supreme one.
This is one of my favourite way to earn passive income. I regularly visit out of station and often rent an Airbnb room which costs me cheaper as compared to hotel rooms and I feel like that they are much cosier.
If you are worried for some reason that strangers stay at your place, then don’t worry. If something unusual happens, Airbnb takes the full responsibility of providing you an insurance up to $1 Million.
Then for sure it is the way to go.
Additionally, you will get to meet different kinds of people who are coming from different places.
#9. Micro Nice Blogging
As I told you that blogging industry is blowing up right now.
And these days, especially in India, the word Micro Niche Blogging is getting very famous.
Now let me explain what is it and how can it help you in generating passive income.
It is a very simple thing in which your effort is less, but qualitative.
The topic which you cover under this type of blogging is very specific, very niche targeted.
It is a very focussed keyword. Let me explain you by giving an example:
Suppose there is a keyword WiFi names. Instead of making a website about WiFi names, you can make a website about cool WiFi names.
You include your target keyword in the domain name and you have to just write 6-7 articles.
They are very easy to rank and can bring you a lot of traffic and money as compared if you make a site about WiFi names.
Ads and affiliate marketing are ways you can make money on your micro niche niche blog.
One thing you must remember is not to include the name of any other company in your domain name. If you include it, you will face trademark compliance.
You can easily make $500 to $6000 per month from your micro niche blog.
#10. Rent out your Car
If you rarely use your car, or it is not even not used, then why not put it to use for bringing in some money.
You can ton of money if you just list your car to some local agent who provides cars on rent to other people. He acts as a portal for those who are looking forward to rent out their car and for those who want to rent a car to get them around the city or for outstation purpose.
In the city of Delhi, you can make around Rs 15,000, without any additional charges, per month and that’s enough.
You can list your Car for rent on Zoomcar.
Disclaimer: You can only rent out the car if you have the commercial license plate, which is that yellow number plate, in India.
#11. Rent on OLX
Do you what is the potential of OLX?
This is by far the greatest and the easiest platform to sell and rent the things you have. Last Year, I also provided my DSLR on rent to someone and charged him Rs 6000 for that week.
This is the potential of OLX. There is one more way you can earn money on OLX in an instant.
Just open OLX and search for the products which people are selling at a very low value than what it should be. If you like the product, contact the seller and buy it after properly checking its quality.
After this, list the same product on OLX for little bit more price. I did the same when I bought a laptop through OLX and sold it again there only.
I bought the laptop for Rs 32,000 and sold it again on OLX for Rs 37,000 in short.
I think this is not a passive income but it is a way which can make you money in an instant.
#12. Start on Udemy
Have you ever made a course teaching people about the things you have experience and how those people can achieve it.
Now it’s much simpler to publish your courses, without every worrying of starting a website, on Udemy which is specially made for those who want to publish their video courses.
I have not yet published any course on Udemy but I’m extremely delighted that they have a huge fan base. A lot of categories have been added on different types of courses.
I’m an affiliate with Udemy and I have indeed sold good number of Courses on my other websites and made a good revenue.
#13. Open a Hostel
Here I’m not referring to the hostels for the children. A hostel is a place where people from different places come to live and it is of course paid.
There are many people who have opened hostels in their houses only and are earning a good amount of income from them.
All you have to do is make a dormitory kind of thing with multiple number of bunk beds for the budget travelers.
You should make every facility available first, like that of WIFI, charging stations,
clean rooms, good food options, clean bathrooms, and other mandatory services
Now the question comes, how can you make people live in your hostel?
You can list out your hostel on sites like Booking.com, Skyscanner, MakeMyTrip, etc. Also you must remember that the rates for the beds must be reasonable. If I had wished for it, then it would be of Rs 500 per bed.
How much you will earn will depend on where your hostel is situated in the city. If it is in a prime location in the city, I can make sure that you can make Rs 25,000 per month extra cash.
#14. Make a Travel Based Site for a City
If you belong to a city, or you have spent your entire childhood in that city, then you should consider starting a travel based site for the travelers travelling to your city.
If you have an understanding of SEO and writing a good content, then you will do very well in this type of passive income idea.
Just build the site and keep a very clean design, write very high quality articles and build some high quality backlinks to it, and wait for few months. Let the Google make magic and rank your site.
If Google starts ranking you for your targeted keywords, now its the time for you to place ads on your site. Traffic will come and you will make a good amount of money for many future years.
Your earnings on the site will
#15. Domain Name Flipping
Domain name selling is not a passive income but one this for sure, it has a potential to make you more money even without working.
But here you have to act smart.
You have to purchase a domain which is most likely to be purchased by someone else or any other company. If you are able to find a good domain name, then don’t waste any time and just buy it.
If someone else wants to buy the same domain name at any cost, then they will contact you and you can put forward a deal and make money out of it.
Many people are making a full-time income by just only selling these domain names. I also purchased a domain and just kept it with me.
I listed the same domain name on Flippa and now it is on an auction for Rs 62,000 going highest.
Some of the best websites where you can sell your domains are:
- GoDaddy Domain Listing
Pretty cool, right?
#16. Audio Book is a Good Option
If you have already made an E-Book, then just convert it into an another format.
You just have to speak the whole book in a way which interests and hooks people. If you are really engaging, these people will tell more and more people to buy your E-Book and the Audio Book.
One more thing you can do is search for the books which are not converted into audio formats. If you found one, then just get up in the front of a mic and speak up.
If you are not willing to speak up and if you are really afraid speaking, then just assign someone this task on UpWork or Freelancer.
Just outsource it and start making passive income selling it.
You can create and sell your audio book on AudioBook Creation Exchange.
#17. Make a Tutorials YouTube Channel
Earlier in the part, we talked about creating a coaching YouTube channel. Now what you can do is that make a YouTube channel teaching how to work on something.
For example, one of my friend makes tutorials teaching Adobe After Effects and he is making a serious amount of money through Adsense and affiliates.
So what I recommend you to do is start putting tutorials on YouTube teaching the skill you know on a practical basis.
One more way you can earn money through this type of YouTube channel is by making a special course and selling it to your audience.
Now, as you have read my some of the best passive income ideas, it’s the time for you to take an action.
You have to just stick to this work in making a good product, if necessary, and just do a good level of outreach and marketing for an initial bump in your customers.
If you want to start with a business and make a ton of money, then consider reading some business ideas for beginners on TaskDream itself.
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