Is Making The Jump From Freelancing To Passive Income Earning Possible?
The joys of freelancing.
No more hassles of the daily commute. Stay away from chronic office stress. Have better control over your finances. Spend as much time with your family as you want. What’s not to love?
But what if you can spend 10% of your time working and 90% for yourself and your family? And what if that 10% of your time earns you the same as, or more, than your current income?
Yes. It is possible. In fact, a lot of freelance home-based workers have used their remote jobs as a stepping stone towards making passive income online.
For one thing, passive income opportunities lead you one step away from scam home-based jobs. For another, you can actually do both freelancing and passive income-generating activities at the same time. Big plus!
And so, without further ado, here are:
5 Easy Ways to Earn Passive Income Online
1. Blog for passive income
The reasons you should monetize your blog are about as many as the ways that you can do so.
Your blog itself can already be a good source of passive income, provided that it has the potential to gather tons of audiences via your content.
However, there are countless other passive income opportunities that you can explore. The potential for earning from Advertisements alone are exponential.
You should look into:
- Pay-Per-Click (PPC) Ads
- Cost-Per-Mile (CPM) Ads
- Text Link Ads
- In-text Ads
And many more!
If you don’t have a blog yet, there’s no better time to begin! As soon as possible, be on the lookout for tips on starting a blog. Turn your interests into valuable content and start earning passive income from them.
2. Sell your Knowledge
If you have valuable knowledge and experience on any particular field, now is the time to capitalize on them!
- Selling eBooks
You have knowledge in your head, courage in your gut, and time on your hands. Those are the three basic requirements for writing an eBook. EBooks are big nowadays, especially since mobile phones have made it easier to carry reading materials anywhere.
You can even make money by writing stories. All you have to have is the heart for writing great fiction.
- Teaching Online Courses
If you want something a bit more formal, you can teach online courses. Selling your knowledge and skills to others can turn into a lucrative source of income. You just have to make sure that what you teach has maximum value for your intended audience or students.
In addition, you must also couple it with solid examples as proof that what you are teaching is actually effective when applied to real-time situations.
You can create your courses on platforms like Udemy and Shaw Academy. Or you can also record your lessons and sell them straight from your blog. Whichever works best for you.
- Conducting Paid Webinars
Some people are more inclined towards webinars instead of online courses. The basic principle for both is the same, except that with webinars, attendees can ask questions and get answers in real time.
At the same time, the live interaction also opens opportunities for you to make a solid connection with your audience.
WPBeginner suggests these top 9 webinar software for WordPress users:
- GoToWebinar
- Webinars OnAir
- WebinarJam
- StealthSeminar
- Google Hangouts
- Cisco WebEx
- Zoom
- AnyMeeting
- Adobe Connect
3. Design WordPress themes and plugins
Speaking of WordPress, why not take advantage of the fact that it’s the top CRM in the world?
If you’re confident in your WordPress skills, there’s a huge market waiting for you out there. Designing a few plugins or themes for starters can already be a good passive income stream.
When creating plugins, the first thing to put in mind is to focus on filling a specific need. One good way to ensure that your plugin sells well is if it solves a common problem that people encounter.
As for creating WordPress themes, you don’t actually have to be an expert web designer or coder. However, you do have to have an eye for the kind of designs that would appeal to the interest of your intended audience.
You can sell both your themes and plugins on any of the lots of platforms that you can find online. You can also sell them straight from your blog or by creating a specific website dedicated to just marketing your products.
4. Create blogs for your clients
Surprise!!!
Yes, this is actually a thing! People pay other people to design their blogs for them.
Usually, the clients who do this are those who are interested in blogging but have no technical knowledge with website-making or blogging platforms such as WordPress.
That’s where you come in. As a blog setup service provider, your tasks are to install WordPress for your clients, upload a WordPress theme, add necessary plugins, etc.
Hit two birds with one stone by selling your own WordPress themes and/or plugins to them, too!
If you’re a freelancer, you can advertise your services as a blog setup service provider on online job platforms such as Upwork, Freelancer or FreeeUp.
You can also boost your business through social media by creating a page for it and by promoting on groups that you are a member of.
5. Affiliate Marketing
I saved this one for last for two reasons. One, because this is a hot topic all over the globe today. Two, because it appears to be so far the most profitable among all passive investments online.
Affiliate marketing is earning a commission by selling a person or company’s products.
Passive income expert Pat Flynn recommends two rules to become a successful affiliate marketer:
- Only recommend products that you are extremely familiar with.
- Never directly tell people to buy a product.
For Flynn, effective affiliate marketing involves promoting a product based on personal experience.
Of course, you can promote products even if you don’t have any experience with it. But — and this is very important — people will be more inclined to buy into what you’re selling if they know that it can positively help them in the same way the product has helped you.
As a freelancer, you can actually also affiliate marketing into an active job. post your services as an Affiliate Marketer on Upwork and other online job platforms.
Study up and find your successful guide to content marketing. Play up your skills on your profile. Express confidence in your knowledge on how to make passive income for your clients. Then, either actively apply or wait for the job offers to come.
Either way, as a passive income stream or otherwise, affiliate marketing is a profitable endeavor that you will want to get your hands on as soon as possible.
Wrapping Things Up
Freelancing offers a lot of advantages for sure. People have sung praises of it, detailing how working remotely has changed their lives.
Earning passive income, in my opinion, is a further step forward. It boosts the advantages that you can get from working from home.
In making a decision on whether or not you want to play or pass on passive income opportunities, always look for risks or caveats.
Make sure to do extensive research first before you decide to turn your passive income ideas into reality.
It’s always good to know what you’re getting yourself into first. Aside from that, good luck and happy earning!
Richard Witt
11/07/2017 @ 17:13 PM
Great info. I’m on this journey right now. I have been doing a combo of freelancing and earning passive income on my blog. It is a slow and gradual process for sure. I like that I have a lot of flexibility in my schedule, too.
Kevin Ocasio
11/15/2017 @ 15:15 PM
Thanks for your comment, Rich. Nothing beats the flexibility passive earning gives us. I agree that earning passive income is a slow and gradual process, and I’m still far from where I wanna be in that area. I am sure we’ll get there soon though. Kudos to you and good luck to us!
Elvis Michael
11/16/2017 @ 23:22 PM
And thats the difference between working hard and working smart. You’re definitely working smart 😉
Elvis
Megan
11/08/2017 @ 05:20 AM
Great article, very helpful. Thanks for posting and sharing it. Creating variety of income source is very important if you want to get most out of your blog. It also creates opportunities to create new products and sell as part of your blog.
Kevin Ocasio
11/15/2017 @ 15:16 PM
Thanks for dropping by my post, Megan. Your comment is highly appreciated. Have a great day!
Elvis Michael
11/09/2017 @ 10:04 AM
Passive income is a rather sensitive subject among marketers. Some believe there’s no such thing, simply because you have to maintain that income on occasion. In other words, an income is only passive if you don’t ever lift a finger to earn it (once said income is established).
Thankfully, im not one of those believers. If that income comes gradually (irregularly) then that qualifies as passive, even if you DO have to lift your finger every now and then.
Thanks, Kevin 🙂
Elvis
Kevin Ocasio
11/15/2017 @ 15:29 PM
Well, Ill raise my glass to that. 🙂 I believe anything worth doing needs some kind of personal involvement, passive income or not. Any source of income or profit, no matter how lucrative, tends to fizzle out if left totally unattended. Same is true with passive income streams. You do have to lift a finger every now and then. Doing otherwise would be nothing short of negligent, and any business that’s neglected dies.
Thanks for letting me do guest posts on this awesome site, Elvis. Hats off to you!
Cheers,
Kevin
Pedro
11/12/2017 @ 17:24 PM
Hi Kevin, Hi Elvis!
Hey Kevin, nice to e-meet you 🙂
Great post with some fantastic tips. At I am already applying a couple of them over at Astute Copy Blogging. Affiliate marketing is a huge source of our income and generally only recommend products/services that:
1. We love
2. Have a money back guarantee; and
3. Have a great customer service
I am hoping to publish a couple of eBooks in 2018.
So, I will say: Yes, jumping from freelancing to earning passive income is definitely possible!
Thanks for sharing.
Best regards,
Pedro
Kevin Ocasio
11/15/2017 @ 15:32 PM
Hi Pedro! Thank you so much for your kind comments. Good luck on the upcoming eBook. I just know it will turn out great!
All the best,
Kevin
Elvis Michael
11/16/2017 @ 23:25 PM
Sorry for the hugeeeeee wait, Pedro. I’ve been crazy busy, but it’s nice to see you again 🙂
Im also in the process of launching a few ebooks, so 2018 looks to be quite the good (and optimistic) year for us both.
Keep us posted,
Elvis
Susan Velez
11/14/2017 @ 06:44 AM
Hi Kevin,
I am currently a WordPress freelancer who is in the process of moving away from freelancing. I am tired of trading hours for dollars.
So I’ve been working on my blog on a part-time basis to grow it into a full-time business. I have no doubt that it will happen, it’s just going to take a lot of hard work.
I personally think that affiliate marketing is the best way to get started. Once you start building up an audience, you can turn your energy to product creation.
It takes time, but it’s definitely worth it.
Thanks for sharing these tips have a great day 🙂
Susan
Kevin Ocasio
11/15/2017 @ 15:35 PM
Hi Susan!
Thanks for your comment. I feel you. Freelancing gave me a good start as well, but just like you I eventually started feeling stifled towards the end.
Good luck on your blog! All your hard work is bound to pay off very soon.
Thanks again,
Kevin
Elvis Michael
11/16/2017 @ 23:26 PM
It will DEFINITELY happen. Keep people like Pat Flynn in mind, along with many others for inspiration.
Keep me posted on your progress, Susan 🙂