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.
- 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:
- Webinars OnAir
- Google Hangouts
- Cisco WebEx
- 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
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!
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!