To do that, you have to harbor a few fundamental guiding principles in your mind. Today, if you're at all serious about generating a full-time income (and more) from your online activities, then you need to focus on passive income as opposed to active income. Sure, the active income will help you survive. That's the scarcity mentality at play. But it's the passive income ideas that will help you thrive.
Find an audience for your passion or hobby and you’re all set to make money online doing something you love via a niche website. That of course, is easier said than done. Creating a profitable niche website takes time and is not intended for the faint of heart. But, if you can hurdle the steep challenges and positively answer a few key questions on whether the website business idea you’re thinking about is profitable, then you can begin building it and eventually monetize through advertising, affiliates, or other relevant products.
It’s scalable: Today, you’re probably thinking about making enough money to pay rent or put food on the table. But why live paycheck to paycheck when you can create a sustainable business that allows you to make money from home while you potentially make more than you do at your 9 to 5 job. Since you don’t trade time for money, you can earn money online while you sleep. As you start creating better ads and marketing more popular products, you can spend more on ads to make more money. If you hate how much money you make and want to dream big again, this is one of the best money making ideas around. And the best part is, you’ll end up learning how to make money from home.
While publishing an ebook on Kindle isn’t the easiest way to make money, it can be a worthwhile way to make some extra cash if you love writing. You can create listicle books like ‘100 Ways to Save for a House.’ Listicles are generally easier to write and can be effective at driving traffic. To market your ebook, you can take advantage of Amazon’s Kindle Countdown Deals promotions where you can give your ebook away for free to help boost its ranking on the platform. Once the promotion is over, you can likely get a few sales from its higher rank. You can also promote your ebook on several platforms like ebook review websites and relevant niche blogs. To boost sales even more, you can create an audiobook version of your ebook on Audible.
Still, you have to shift your thinking if you’re serious about making money online. You can’t think about days or weeks. Rather, you need to be thinking in terms of months and years. This isn’t some overnight expedition or something you’ll accomplish quickly by any measure. We’re talking about a long and very drawn out journey that will invoke every fiber of your being and zap you of your time and energy at every level imaginable.
But don't make the mistake of thinking this will be a passive source of income—you're on call whenever you have a guest and you'll always need to keep the place clean for incoming visitors. On top of just renting on Airbnb, consider offering your guests paid add-ons, like Lauren Gheysens', Royal Day Out in London, England—where she gives visitors a local's only tour of the city, complete with bespoke 18th century costumes.
Is there a product or service that you are particularly enthusiastic about? If you are, you may be able to develop a website that is built around selling it. You don’t have to be the actual provider of the product or service either. There are many businesses that offer these products and will allow you to sell them on an affiliate basis. For example, you may be able to sell a product on your website for a commission of 20% or 30% of the sale price.
Starting a podcast, like making a YouTube channel or blog, comes down to telling interesting stories and building an engaged audience. I’m probably sounding like a broken record by now, but you need a niche that you’re interested in and there’s already a demand for. Come up with a list of topics you’d like to talk about and then search iTunes charts, Google Trends and other podcast research sites like cast.market to see what’s currently out there and popular.
Here’s a good example of how lead sales can work in real life: My second website, Life Insurance by Jeff, brings in a ton of traffic from people who are searching the web to find answers to life insurance questions. While I used to have the website set up so I could sell these people life insurance myself, it was a lot of work to process all the different requests and clients. As a result, I started selling the leads I gathered instead.