Build Digital Revenue Streams That Run Themselves
Three Digital Strategies That Pay You Long After the Work Is Done
Is passive income really a thing? Yes, but it is not always as easy as people make it out to be. Passive income is when money is flowing into your account with minimal work on your part after the initial work has been done. Passive income is not a “get rich quick” scam, but it can grant you financial freedom over time with the proper strategy, especially in the online world. Below are three legitimate ways to create passive income online:
Sell Digital Products: Create products like e-books, templates, online courses, or printables. Once you create them and upload them, sell them on Gumroad, Etsy, or even your website. You will have it set up for you to sell repeatedly without any extra work.
Affiliate Marketing: Establish a blog, YouTube channel, or social media profile to advertise products. When a person buys something using your affiliate link, you earn a commission. Affiliate marketers who produce timeless written content and videos can generate passive income for months or even years following their initial efforts.
YouTube or Monetized Content: Create videos, write Medium articles, or post in monetized content and revenue-sharing spaces. Once you create a piece of content and it starts getting views or reads, it will continue to generate income long after you have moved on.
Passive income is possible, but only as long as you are willing to put in the initial work. Building a passive income stream requires strategy, consistency, and patience, but it is entirely possible.