How To Create Passive Income or Work From Home Essay
Before going over some of the options on how you could create passive income, I must say that it is not always easy as described on the Internet. Usually when people are looking for tutorials on how to make money, they face people they make money out of these tutorials by describing everything in a general overview but not actually showing how exactly to do that.
I defiantly understand them. Each of the options we will discuss in this article can be separated and converted into a full course or book dedicated only to that specific way of how to earn money on the Internet.
For the last 3-4 years, I tested most of them. By saying tested, I literally tried them by myself. Some of them can be achieved by your specific knowledge (for example programming), and some of the basic understanding of how e-commerce, advertisement and other things are working.
Note: I will not be talking about how to do that, where to do that because each part can take hours of hours until an individual will be able to do that by himself.
Let’s proceed to the methods.
I’ve seen many tutorials about this method. Most of them are not even showing proof of their earnings, some of them are explained as an easy way.
Personally, I don’t like the shortened links system.
So what is it about? You supposed to take a full link of a specific page, let’s say Youtube video. You go to the shortened link website, create a short link and then advertise it over the Internet.
Where can you advertise it? Any place that accepts short links. For example Facebook blocks some of them.
Where is the catch? These shortened systems are getting paid to put advertisements. That short link you created is forwarding the person to a gateway where he or she must see advertisements and then you are being forwarded to the destination link, the Youtube video in that example.
Why I didn’t like it? Because these mid websites are forcing you to watch these ads, some of them require you to fill the Captcha and then you are forwarded to another website.
There are ways how you can create traffic for these shortened links and there are ways how to bring people through your links, you can search for tutorials, there are enough of them.
The payment is based on the number of clicks, for example, 20$ for 1000 clicks.
Selling Your Private Label Product on Amazon
This method is a good one, in case if you have time, knowledge and money.
The idea is that you go to a factory, order products with your private label and then sell them on Amazon.
In like 90% of the cases, most of the orders of products are done through Alibaba.
Here are basic steps how to fulfill it:
- Research the market – Check what people buy, what people are looking for.
- Find a niche or specific product and know your competition and competitors.
- Find a supplier for your product.
- If you want to make sure you sell a good product, I suggest ordering samples from the supplier before you make the big order.
- In parallel you need to find a carrier, someone who will bring your items from the supplier to Amazon storage.
- Make your own brand – Note that the brand costs money. If you don’t have a certificate of brand ownership, others might use your name or the product and sell it.
- Keyword research – A must do work in order to create the perfect product description for your customers.
All these steps are a general overview. Trust me, the hardest part are the first 3 steps.
You must take in consideration that there are competitors, you need to be better then they are, you must face problems like customer refunds, issues with delivery, out of stock issues and much more.
I know many people that this is their main business, a work from home business. In their case this is no longer a passive income, the yearly revenue are millions.
Remember, for this method, you must know a lot, need time and money.
By the way, forgot to mention, you can sell your product on many other platforms, it doesn’t have to me only Amazon.
To me, this is one of my favourite methods, and why is that?
- You don’t need money to start it.
- You don’t need much time.
However, you still need to learn a little bit, test it by yourself.
So how does this system function? There are two possible explanation and I will explain it as an example. Let’s say you searched for a cup of tea on eBay and you noticed that all the sellers are selling it for 10$. You did homework and you found the same cup of tea on another selling platform for only 5$. So you buy it for 5$. sell it for 10$ and you earn 5$ minus the commissions (you have selling commission plus you might have money withdrawal commissions).
You can do the same with a physical storage close by your home – buy the item and sell it somewhere, in that case, you must deliver this product by yourself.
So, when you re-sell a product from one website on another website, you simply buy it and ship it to the address of the customer.
It becomes difficult when you are selling thousands of products, even above 100 products because then you need to take care of all the orders, but this is good, it means you make money.
But don’t worry about the hard work, there are platforms nowadays that can assist you and do automatic product order.
Ads – Advertising
This method can be easily used only if you achieved a few steps.
A good way to make money is to put google ads, but where?
Here are the places, which mostly achieved by hard work:
- Youtube – If you manage your own channel, google will pay you to put ads on your videos. Why this step is not easy for the beginner? Because you must have 1000 subscribers and at least 4000 hours of your monthly video watch time.
- Your own website – You can create your own blog, a portfolio website and put there the ads. However, if there is no traffic to your website then you did nothing.
- Applications – If you know how to develop an application, you can put your ads there.
- Platform which allows you to put ads on their website, HubPages is one of them.
As you can see, to put ads you need to register only on the google ads platform and then put them on the desired platform.
The hardest work is to create or find the desired platform.
There are few websites that pay you for listening to sound files and converting them to text.
It sounds easy, but it’s not that easy to get there. Once you registered on one of these websites, they are asking you to do an English test. The test textual parts and the hardest part are the recorded text which you must listen to and convert it to a text. If your English level is not above the average, it won’t be so easy for you.
Do you remember that I tried all the methods? So I also tried this one.
you can find some of the answers over the Internet, not all of them. I also found a trick on how to easily convert the sounds files to text.
All you need to do is to have a Youtube account, upload the sounds there but don’t publish it and youtube will create the transcription for you under the subtitles category.
There are many freelancer websites that allow you to register as a freelancer and offer your skills to people who need them.
For example, I’m a specialist on Python programming language, I offer my skills. Someone is posting a message where he is looking for a person that will meet his or her requirements for a specific job and he offers the amount of money he will pay you for that job.
There are many people that will register as a good match for that job, so you are not the only one.
When I tried the system, I didn’t like two things:
- You need to attend to almost all the possible tasks and offer almost the lowest prices for these jobs, but once you did them, you can ask for a review. Then your portfolio will look better and more people will trust you.
- The cost sometimes low while the task takes hours. Sometimes a person can ask you to do something, once you have done he will ask you for changes and so one. By the end you find yourself working 3 days for 10$.
Remember, the good part of being a freelancer is that you can advertise yourself only with your skills.
For example, you know to translate documents? Create websites? Photoshop? No problem with that.
Not much I can say about it, but the general idea is that you register as someone that is selling products, service for someone else and you get the commissions.
I know some people who are good at selling and marketing that did a lot of money out of this method and this is their main job.
I wanted to include this method together with the affiliation method but decided to separate it.
The general idea of this method is that you register on a website as a re-seller, and start selling their products to others. Until now, this is the same as affiliation, but where is the difference?
You can bring customers which eventually become also re-sellers under your name. So once he sold a product, you get also commissions. If that person brought another re-seller, you will get commissions also from him. This is the reason why this method called Pyramid Scheme.
In many cases, some of the companies are forcing you to buy a specific amount of products before you start selling, which I didn’t like.
Using this system you must be good at selling, marketing, know how to advertisers and sell products or services.
There are various methods which you can choose. I don’t believe in easy money, even with all the possibilities on creating passive income, you still do research work, learn and test before your will find something successfully.
I spoke only for the methods I tried, there are other options.
I hope this article summarized most of the options. From here you can concentrate on a specific one and start doing research work and learn how the method works.