Let’s Face it!
It’s the sad Truth: Unless you’re well off, (which 99% of us are not), you need to make enough money to live a better life. Most of us notice that the job we have, that 9-5 job we hate, is not generating enough money to support the life we want or need. The happy Truth is that there is a solution to this problem. That solution is passive income. Passive income is the idea of making money “while you sleep”. We know this is possible because of the research we started 3 years ago.
Because we wanted to live a better life, we started researching what that 1% of Americans were doing to be so successful (besides just being born rich). We learned that being “successful” is being able to say you love what you do every day of your life. Most of the time, this means that the 1% are their own boss. It also means that money is being made 24/7 with focused effort that yields high returns. Being your own boss is great and there is also the benefit of being able to work from the convenience of your laptop anywhere there is an internet connection. In our experience, we have studied the 5 main ways to make passive income online.
Being successful is being able to say you love what you do every day of your life.
This is message is not for everyone. The next 3-5 minutes that you will spend reading this article is so that we can show you a summary of what we learned that last couple of years. Note that we put our best effort in writing this article, from our own personal experiences. Please let us know if you have any questions. We will answer all questions in our weekly workshop.
How to Make Money Online
According to Lewis Howes, “Top ways to make money online”.
- Teaching and Training
- Offering a Service
- Creating and Selling Products
- Membership Sites
- Continuity Programs
- Affiliate Marketing
- Building a Site and Selling Ads
- Selling Sponsorships for Branded Content
- Masterminds and Coaching
- Getting Creating
All of these can be done from your own home with very little in startup costs. We picked the best ways we have found that generate substantial income.
According to Mashable.com, 14% of all American mothers with at least one child in their household blog about parenting or turn to blogs for parenting advice. Additionally, the average mommy blogger makes $84,000, $14,000 more than the average income of non-blogging mother. The way this works is by selling ad space on your blog. The more visitors, the more times the ads are shown and the more passive income is generated. Wondering how to get started? Read how to become a blogger without being a great writer.
Thanks to WordPress and a lot of other tools we bloggers use, it allows for people just like you to start your own blog within minutes, without a programmer or any difficult computer skills.
Check out the video below to see how installing WordPress through Bluehost is super quick and easy.
E-Bay & Amazon
We remember years ago when buying and selling on eBay was easy. Not anymore! While some people do have success with buying and selling products on eBay, the market has become saturated and complicated due to eBay’s fees. While we do recommend selling online, we suggest you create your own ecommerce website and become an affiliate of companies so you don’t need to buy inventory or ship products. Amazon is a great example where you can start your own ecommerce store without buying any products and still getting paid for sales.
As a trial, we purchased an Amazon store through Flippa.com, a marketplace where you can buy and sell pre-made websites or domains. Though we didn’t put any effort into it whatsoever, we generated $2,316.16 in revenue.
We sold 144 products through our website. The beauty of it is, we didn’t do a thing, image if we would’ve actually put in work.
Designing and Selling T-Shirts Online
Another great way of making extra money is by designing and selling t-shirts online, without spending a penny. One popular site that allows anyone just like YOU to design your own t-shirt without paying in advanced is TeeSpring.com. Teespring sold over 6 million t-shirts in 2014, thanks to the Internet.
The way Teespring works is that it handles the difficulty of selling your own shirts by handling marketing, payment, manufacturing and shipping of your shirts. There’s a catch though, at least 15+ purchases have to be made in order for Teespring to print and ship your shirts, this way no one loses.
The way Teespring works is that it handles the difficulty of selling your own shirts by handling marketing, payment, manufacturing and shipping of your shirts. There’s a catch though, at least 15+ purchases have to be made in order for Teespring to print and ship your shirts, this way no one loses. The great thing here is that you do not have to manage any inventory. So they money you make is made fairly effortlessly.
Freelancing is another great way of making money while working from home. Everyone has a skill that others need. Freelancing sites are the place to connect what you can do with people who need it done.
We used websites like Odesk, Elance and other popular freelancing websites to find clients and even receive job interviews by offering our online marketing skills as a service.
How we made money as freelancers
We generated the most money freelancing on oDesk. Keep in mind we didn’t focus a large % of our time to look for clients. We had them find us…
According to Leslie Carter, a freelance writer on Odesk.com, she quit her day job by using Odesk to work from home.
Here are the 3 main steps she took to accomplish getting repetitive business through oDesk:
- Setting Up a great profile – Take a look at an example below.
- Applying for jobs ( apply for at least 10 jobs per week, depending on your workload)
- Delivering work according to your client’s expectations
Selling on Etsy
Etsy is an online marketplace for all things handmade or suppliers of craft supplies. If you are a “crafty” person, the possibilities are endless. So, what can you make? Some of the things you can make are, anything from hair accessories, rompers, jewelry, leg warmers, t-shits, ANYTHING, you name it!
Here some of the top 5 things to sell on Etsy (by number of sales)
- Hair accessories
- Coffee Mugs
Want some inspiration? Here are the top sellers on Etsy (by number of sales)