You’ve got a 9 to 5 job with steady pay, but within you, you know you deserve more pay. So you’re trying to figure out how to make passive income online. Look no further.
There are many alternative sources of income that you don’t necessarily need to engage in daily before you’re able to earn from them.
If this is what you want, passive income online sources need to check out.
What’s more, you want to start making money as quickly as you can.
Well, I’ve done my research and found that instead of starting a digital hustle and growing it for months or up to a year before you begin to see results in your bank account, there are ways to begin making money without having to wait so long, even in the first month.
The good thing about it is that the money you’re making here is passive, so you’re not earning as you do extra work.
Below are ten alternative sources of income to start earning passive income online within just a month.
Without further ado, we shall proceed.
1. Write an Ebook
Selling Ebooks is an excellent way to start making money online, and the most challenging and daring step you need to take here is the process of brainstorming book ideas.
To get through this, you should focus on solving individual problems, and this has to do with things you’re already familiar with, and when you find the right topic to write about, it’s time to start writing your book.
Regardless of how exposed you are to the subject matter about which you’ll write your EBook, you should make sure you do some research.
This will help you write a better book, and once you’re through writing, you can publish on sites like Amazon and start making sales and passive money from your EBook.
If you don’t see enough sales, you can give it a bit of a boost by running a paid advert, and you should be able to start getting more outreach and sales.
2. Start Dropshipping
Dropshipping is a creative way of retailing products and also a good online passive income idea.
In contrast, the traditional retail process involves selling products in your inventory; dropshipping involves you selling these products without ever storing them or purchasing them in the first place.
You list products on whichever channel you choose to, add your profit to the original price.
When buyers place a buying order, their order passes on to the original merchant, and the merchant ships the item to the customer.
Dropshipping operates both manually and automated.
If you have an online store, you can automate things by taking advantage of Shopify and Alidropship plugin tools, where you add products you’d like to dropship to your catalogs coupled with clicks, and you are good to start selling.
To earn by dropshipping within the first month, you should boost things by running paid adverts.
3. Create a Course
Another way to generate passive income online is to set up an online course.
It might be in a video where you can take advantage of places like Udemy to generate passive sales.
You can also create a website for your course, add a payment gateway to enable people to enroll as soon as they pay for your course.
One of the things you can see as a challenge is finding a subject to write about, and my answer is to frame your course based on what you’re knowledgeable about, and you have a strong sense that there’s going to be a market for it.
It may be something in your line of work, something you’re good at in school, a skill you’ve learned, a dish you can prepare very well, etc.
4. Invest in Crypto Currencies
Investing in a volatile market such as cryptocurrencies can be rewarding but can also reverse.
If you are looking forward to earning passive income online in this industry, you can consider less risky methods.
Some of them include staking your crypto to help improve the stability of a specific cryptocurrency or token.
Therefore, you are rewarded based on the APY of the particular crypto you are staking.
Day/swing trading is another option for you, though much riskier, as well as a variety of other ways the blockchain industry has in stock.
However, one key factor you should keep in mind about investing in a volatile market like this is that while they could be passive money on the process, there are also potential losses associated.
5. Affiliate Marketing
This type of marketing has existed for decades and over the Internet; it is simply an improved version.
This is about partnering with a particular business to help attract buyers in the yield of commissions.
This marketing model requires that you have people who need these products that you want to market as an affiliate.
If you don’t have access to these prospective buyers, maybe you don’t have enough social followers, website visitors, or any other fan base; you may have to start by building that influence.
However, as we are more interested in making money in a short period, as in the first month, we need to look for ways to accelerate this process.
For this reason, you should consider listing these products or services that you sell on a variety of online marketplaces and also consider paying for sponsored posts or Ad networks if that can mean reaching out to more targeted potential buyers.
Wrapping Up
The Internet is a ground for people trying to find alternative sources of income.
While various additional income streams can help you earn a decent amount of money while staying on your day job, most require certain investments, including your money, time, expertise, and effort.
As you move forward, however, you will learn about ways to automate various aspects of your side business so you can pace it on the passive income stride.
I’d like to know your views in the comments section below.
Are your alternative sources of income paying off, and have you considered getting them to operate on autopilot?
Read Also: 50 Ways To Make Money Online