Every business requires a certain amount of effort. Even if you set up a passive income business, it still requires some effort on your part to maintain. Let’s take an ice cream selling business for example- sure, the money comes in by itself but it also requires you to show up at the store every day and check how much inventory is left, order more supplies when necessary, etc.
However, some businesses require less effort compared to business projects that require a full-time commitment. Having low-effort businesses is a good way to earn some passive income without sacrificing too much of your time. Here are 9 examples:
Dropshipping
Dropshipping is the perfect business model for new eCommerce entrepreneurs. It’s simple to set up and manage, and it doesn’t require a large up-front investment. You can also run your dropshipping business in your spare time – you don’t need to quit your job to start a successful store.
Dropshipping is not a get-rich-quick scheme though. It requires research and effort to find the right suppliers, learn how to market your store, manage customer expectations, etc. If you want to run dropshipping business full-time or expand your existing business through dropshipping, check out these tips.
Affiliate Marketing
Affiliate marketing allows you to earn a commission by promoting other people’s (or business’s) products. Some businesses allow their affiliates to place affiliate links in their social media posts, on their website, or even within the content of the email they send out meaning that you can promote them and make money at the same time!
Affiliate marketing is a great way to earn some passive income and it’s also practically effortless. You just need to sign up for an affiliate network like BigCommerce, ShareASale, or ClickBank, create your links and then just wait patiently for the money to roll in!
Online courses
Online courses are a great way to make passive income. You create the course once, and then people can purchase it and learn from it at their own pace. You can create courses on a wide variety of topics, or even niche subjects, and there are several different platforms that you can use to sell them.
One of the best things about online courses is that they’re an evergreen content format- this means that they’ll always be in demand, no matter what the current trend is. So, if you create a course on a topic that’s currently popular, you can be sure that it will sell well for years to come!
Renting out a property
Many people shy away from starting a rental property business because they think it will be too much work. However, this is not always the case! There are many ways to make passive income through rentals without having to put in a lot of effort. For example, you can use a property management company to take care of everything for you- from finding tenants to collecting rent and handling repairs. This can be a great option for those who don’t want to deal with the hassle of being a landlord.
Another great thing about renting out properties is that it can be extremely convenient. You can do it all from the comfort of your own home- no need to show properties, meet with tenants, or handle any of the day-to-day operations.
You can even hire a property manager to take care of these things for you. This is one of the easiest ways to get into rental properties because it means that you can make money without having to put in very much effort!
Selling eBooks
eBooks are another great way to put together passive income streams. You can create them and then sell them through your website, or you can publish them on Amazon Kindle and make sales every single day.
If you sell your eBook through your website, you’ll have complete control over the look and feel of it- so, if you’re an experienced web designer, this could save you a lot of time and money!
There are several different ways to make passive income, and each has its own set of pros and cons. It is important to do your research before deciding which route you want to take, as this will help you avoid any potential pitfalls. Passive income can be a great way to earn money without having to put in a lot of effort, but it is important to remember that there is no such thing as a gets rich quick scheme! So, if you’re willing to put in the work upfront, you can create some amazing passive income streams that will provide you with financial stability for years to come.
