The Internet has fast become the best means of earning passive income due to online, software and content services that can drive revenue and traffic for years. In short, you only build once and earn indefinitely! On the flip side, many other people are on the Internet since they have also realized its huge potential to make them money.
The growing number of people on the Web means that you have to contend with lots of competition. However, one thing is for sure; if you are not willing to put in some hard work in the beginning, then forget about making any passive income over the Internet.
With that in mind, here are the best 3 strategies to making money online in a way that gives you a sustained income stream without much sustained effort.
In all honesty, the blogging industry is saturated as people have been putting up blogs for years, but most fail. However, there is a world of difference between blogging for money and blogging about something you do every day and love. When you focus on something you consider yourself a pro in and enjoy, you stand a better chance of sticking with it long enough to get a sizable following.
Whatever the niche or topic of your blog – may be gardening, gaming, baking, weddings or entrepreneurship – you do not have to put in lots of hard work since you already enjoy it. To excel in blogging, you need to start a blog on something useful or interesting and regularly post engaging and compelling posts.
Once you have gained a following, you can start making money off your blog by earning commissions as an affiliate. This means you push other people’s services and products on your platform; but make sure that the products have a direct connection to your blog. For example, an accounting blog can become an affiliate for a firm offering zero interest credit cards for balance transfers. You can also sell advertising space to advertisers. The other option is to find sponsorship for your blog. However, sponsorships are usually one-off deals in exchange for content or a permanent logo placed on your site’s footer.
Offer Online Services
You can create an online business model related to a particular service like web design. Automate the entire process by hiring designers to work under you and have a manager to deal with the clients and every day running of the business.
Once you automate the processes, you are now free to travel or do whatever you want, while making passive income from the enterprise. However, automating a service that is people-dependent can be a challenge since you have to manage people and other things. It is also harder to set up, but this is still a viable way of making some online money passively.
Purchase Penalized Websites
There are many high quality websites and blogs out there with no traffic. In most of these cases, the owners have simply given up and moved on to something else, leaving their resources doing nothing. Some of the websites are decent, but have been ruined by Google penalties.
When the webmasters give up hope, fire their staff and decide to move on, these sites can be bought for almost next to nothing since the owner finds no value in them. The beautiful thing is that Google changes its mind on a daily basis, meaning unpredictable Web traffic.
To succeed in this strategy, you need to identify sites with good quality content but low traffic levels. Once you negotiate to purchase the website at low prices, you can then go about repairing any SEO problems to improve its chances of making a recovery. Then, sit back and wait for if and when the site bounces back, effectively developing a sales funnel that converts organic search traffic from Google.