29 passive income ideas that help you to make money in 2021

Passive income is a goal or dream for many people but a few knows where to start & how to start because these stuffs not taught in schools, School system only focuses on how to get jobs.

So therefore most of us find ourselves running in the same rat race and everyone else wondering how we got there. But actually you can start building wealth at any time from anywhere and all it takes is to have the right ideas and desire to take action on what you know or learn. 

You can start building your way up to financial freedom like many others have done, and for helping you out there we are sharing a list of 27
passive income ideas to get financial freedom and independence.

But before we get into the detailed information of each and everyone I just want you to know if you’re not familiar with what passive income is… 

What is Passive Income:-

Passive Income Means a Cash Flow into your pocket month after months without actively involving your time on daily basis. Passive Income may be earn while you sleep, enjoy vacations or may be playing with your kids 24 hours a day 365 day a year . 

Most people out there are familiar with active income, where you go to a nine-to-five job or maybe you make money derived from your immediate activity while there’s nothing wrong with it, but the big issue with active income is that you’re actively involved in that process and if you want go on vacation or do something other than work you can’t make any money without doing your work.

So passive income on the other hand is a way to be making money without involving your time actively day-to-day and continuing to earn money day & night as well. 

It could be either loan lending, real estate, or just any type of business that requires very little or no effort to run. but remember this is not a get-rich-quick scheme, there is a great truth behind Earning Passive Income, here you have two choices…

• You have to invest your time:- It’s a vital truth universe that you can’t make anything from nothing, So if you want to create a passive income source, you need to invest some amount of time at first to make or create something that gonna become your assets and will allow you to earn passive income. 
• You have to invest your money:- If you don’t like to invest your time to create something, then you have to invest your money into an asset or something out there such as real estate, automobile, digital products, or in any business as a investor and your money will work for you and allow you to earn passive income.

So choice is yours what you wanna invest your time or your invest your money, there is no pipe dream secret out there of a method that doesn’t involve your some amount of time or some amount of money to start earning passive income.

What is not passive income?

Most of the people misunderstood passive income with side hustle. Side hustle just way to increase your current income but there you need to put you time and efforts on daily basis.

Your passive income is not…

• Your job – Passive Income means to invest time and efforts for some time, this can be days, month or years, but after that it just generate regular monthly income and let you retire early. Any increase in salary in your main job can’t be calculated as passive income stream.
• A side hustle – It may be possible that your side hustle potentially can generate passive income, in future such as teaching online and recording your online classes, but this won’t generate passive income until you upload these classes recordings on a digital courses teaching platforms such Teachable or skillshare.
• Consulting – Consulting or giving business advice may be a excellent side biz, but here you charge hourly, or per meeting it means you trade your time for money so it can’t be a passive income source. If you create a course around your expertise and sell it online then you can turn it to a passive income so it can’t be a passive income source. If you create a course around your expertise and sell it online then you can turn it to a passive income sources.

How Many Passive Income Streams Should You Have?

The idea of creating multiple streams of income is cool enough but it totally up-to you commonly most of the multi-millionaire have at least 7-8 passive income source and 1-2 active income platform, so you should start creating at least 3-4 one by one.

How To Start Building Passive Income?

Passive income is a very tempting thing for everyone but finding the passive income ideas that best suits you is not as easy as it seems. You can’t just work on one business idea that works for others.

If you want to find the best ways which surely make passive income for you, you need to start with some clear goals and plans. You need to know how capable you are in terms of money and time. And you have to be willing to make short-term sacrifices to meet your long-term goals.

Before starting your passive income ideas that inspire you, consider these following steps to build a solid foundation.

1. Build A Cash Cow

• Before you spend thousands of dollars on a passive income plan that you’re sure will work, it’s important to build a cash cow… it can even be your first form of passive income!
• Open a high-interest savings account with at least $100. Over time, the interest you earn on this cash will count as passive income, and you may also receive a cash bonus for opening the account.
• This cash cow gonna give you enough cash inflow and mind freedom to keep working on your passive income ideas and you won’t stop it due to lack of money inflow problems.

 2. Build or Enhance Your Skills

• Many people think that building passive income is an easy task and you can make it without any skill or expertise, somehow it is right, but there are some passive income ideas like course-writing, video-editing for which you must have some Specific  skills.
• If you have these skills, great! If not, you have to acquire that knowledge and expertise as this relevant qualification will be worth it in the long run.
• Also, not only gain enough knowledge and expertise in the skill, but you also need to be brilliant at it so that you can give your best and beat the competition.
• Also you should learn all the skills that can automate your business ideas like Email Automation, Chat Box Automation, Payment Automation, Staff Management, Freelancing Services Hiring Tricks etc so that you can build wealth without active involvement.

3. Be Realistic About Your Commitments, Time, Money, Efforts.

• As we mentioned, although the idea behind passive income is that you want to earn money while you sleep, no business can be built without effort. 
• In fact, you may find that building a passive income stream involves a lot more time and effort than a standard side gig to actually get it up and running.
• If you already have a demanding job, kids, or an active social life, you may not have the time to spend building a more profitable business. In that case, you can consider investing or ask someone else to help you with the heavy work. 

List Of The 27 Best Passive Income Ideas:-

Now I’m gonna share with you a List Of The 27 Best Passive Income Ideas a blend of both of these some of them require your time, and some require your money investment, choose any of them according to your passion and desire, don’t just go with any because you can’t put your money or time in something that you don’t have love or passion for. So here is my The Best 27 Passive Income Ideas which can generate money month after months…

1. Passive Income By Selling Information Or Digital Products:- 

Therefore this for a lot of you guys may sound like an area that you’ve
never even really heard of before but it in current scenario people are
learning new skills and so most people if they’re looking to learn about
marketing or about a particular subject while they go out there and they get a
college education the big problem with that is…

• It’s gonna cost them thousands of dollars if not tens of thousands, but
  Digital Products or Courses are cost effective and much more cheaper then
  institutional courses.
• Most of the time things are written in a textbook they are often outdated
  while online courses are all so much more current and up-to-date.
• There are very few institutions available in all cities which can provides
  latest learning skills and job oriented courses. Such as digital marketing,
  social media marketing, or eCommerce Drop Shipping Skills.

Therefore if you are somebody who is maybe more extroverted or you like the
idea of teaching this can be one of the best methods for earning passive income
by taking something you’re already knowledgeable.

Creating an online course and then selling it to people online and not only
are you making a really good passive income source for yourself, You’re also
helping people in a certain area of their life where they’re definitely
struggling with.

So it’s a win-win situation and now you might be saying to yourself who in the
world is going to buy an online course but you would honestly be surprised by
knowing this, There are millions of digital marketers and online teachers they
are making wonderful living by doing this every year. 

There you can create DIGITAL PRODUCTS such as eBook, Audio or Video Courses. But remember this all take time and efforts also creating single product on course won’t let you earn enough passive income so you need to create more excellent courses or products for making up-sales.

There are some best Tools and Online Teaching Platforms available for you
for creating your own digital products or courses easily.

2. Passive Income From Affiliate Marketing:- 

Affiliate marketing is a great way to make good commissions and start a business on the internet with very little capital. This is a great income opportunity for “Influencers” social media website owners, or bloggers, who may promote a third party product that includes a link to the product on their social media account or website. 

• You don’t need to pay or join any program or product for becoming an affiliate, but it is recommendable to use the products or services before referring to other so that you can understand how your product works.
• Amazon Affiliate Marketing might be number one choice for a affiliate partner, but eBay, ShareASale, Awin also well known too.
• you can directly refer these products to the potential customer or also consider to grow a email list to redirect your customer to your website using email marketing.
• Affiliate marketing is considered passive income stream because, here you can earn commissions just by adding a link to your social media accounts or your website once but you need to set automation because Just adding a link to social media or a website won’t you get conversions.
• This is not a quick rich process, it gonna take good amount of time, efforts and patience for building considerable number of following or visitors on your social media sides or on your Website which gonna click on your links and buy your affiliate products. 
• You’ll need to build a sustainable fan following by producing useful information and content and attract reader to your post using SEO, social media marketing, email automation.
• The easiest way start making money by creating YouTube videos and then I start leveraging these with the Amazon Associates program and by the time you gonna generate very handsome passive income.
• Here is you would simply take products that you already own and things you’ve purchased then just make a review video and then simply go over to amazons join the Amazon Associates Program and then put your Amazon Affiliate Link in the description of that video and upload it on YouTube.
• Definitely Amazon Affiliate Program is a one of the best Affiliate Program out there if you are a beginner or focusing on physical products only, but if you love to sell digital product then you can apply same YouTube video marketing strategy for selling digital products as well.

3. Passive Income By Investing In Crowdfunded Real Estate:-

This is the kind of investment where you can invest money with people from all over the world and that money will be invested in private real estate deals, so if you haven’t guessed already, this is one of the best ways to earn passive income.

So it’s like putting your money into an asset and allowing that money to work for you instead of actively engaging your time, so if you already have some money set aside it can be a good way to earn some passive income. Could be an interesting way.

This is one of those ways to earn passive income which requires money to make more money As we said in the beginning of this article, you have two options to earn passive income one is that you Invest your time creating something or two to invest the money you already have and let that money earn more money.

Key features of Crowdfunded Real Estate Platforms…

• It’s have tangible nature of the investment
• Low risk due to very low-correlation with the stock market
• multiple Passive Income Return Components (assets value appreciate, rental income)
• Tax Benefits or Advantages.

These companies or platforms provide a variety of services such as maintaining, renting, managing, and as a result you can avoid these manageable part of real estate investment, put your hard earn money in these type of alternative investment options.

It is entirely up to you what type of investment you want to make in any real estate crowd funding ventures, and different companies specialize in different types of ventures. Some of the most popular passive income apps options are:

• DiversyFund – It deals with multi-family housing such as Apartment Buildings
• Groundfloor – It work for fix and flips types of properties.
• FundRise – It Expertise in Investing in real estate portfolios that include commercial and residential real estate ventures.

The best thing about crowdfunded real estate is you can literally start out with a five hundred dollar portfolio one of the site is fundrise, I love it because fund rises very transparent about the advisory fees you’re paying about 1% fee of what you have invested but overall you gonna get great experience with fund rise.

Therefore Instagram is one of the best social platform where you build up a personal brand page or build yourself up as an influencer and then you can…

• Start selling your own digital product.
• Sell your own coaching PROGRAMS.
• Sell other people’s product as a affiliate marketer.

That’s just one of the ways you could do that second of all let’s say you find an influencer out there like myself who has a lot of stuff going on and there Maybe they have time issue to manage their own Instagram page well.

• Become a Social Media Manager:- Manage other’s Instagram pages on behalf of them and they will pay you week after week month after month on a recurring basis.
• You could help local businesses establishing a presence on social media and charge for it.

I know that sounds like a lot of work and need so much involvement in the task so how is that going to be passive income stream. 

Yes, you are right this take lots of time and efforts for managing somebody’s page or even managing your own page or pages for a business so here is a system you need to create for converting it into a passive income venture.

• Train some VA or Virtual Assistant on how to do the ins and outs of this operation.
• You’re dealing with a client who is paying you $1000 a month to manage their Instagram page for their business.
• Hire some well trained virtual assistant from overseas and pay them 30-40 percent amount per month as a salary.
• Your job is just going out there and getting clients and essentially they pay you a thousand you pay your VA $300-$400 and you’re collecting $600-$700 per month in the process that is how an Instagram marketing agency can become 100% passive income source.

The point to be consider that this isn’t gonna be passive income from day one you’re gonna have to actually build up this business and get a couple of clients figure out how to grow and manage Instagram pages yourself and then train a virtual assistant.

It’s true that starting a successful blog can take quite a bit of upfront work; however, it’s one of the most sustainable ways to grow organic and social traffic and building an email list.

Key Feature Of A Niche Blogging-

• For establishing a successful passive income source, you need to be passionate about the topic or niche and you must know how to monetize your blog with the best suited digital product.
• You must be an expert using some blogging and digital marketing tools that can automate your blogging business such as lead generation, email automation, post scheduling, payment system, course delivery etc so that you can easily generate passive income.
• The biggest advantage of creating a blog is that this is a trust builder asset that can be turn into multiple passive income streams. You can sell your product as well as other people’s products that may be digital or physical both.
• Becoming a expert in a certain niche and providing extremely valuable information to people build trust and authentication and people love to buy products and services you suggest to them.
• When you start building niche blogging you are going to find a blog niche that you are interested in, and passionate about, and then start writing reviews of various products or services in that niche. So that’s how you are scaling up to a million dollar blog in the next few years.

The most important part of a website is creating a attractive marketing copy  so that it can attract sponsors interested in getting their products or services in front of your audience. It’s hard to do it yourself and even harder to find someone to hand it over.

And that is simply by creating comparison content between two different services or products whatever it may be, but what that generally means is lower traffic but also lower competition. Low competition gives you enough chance to get ranked on Google fast and easily.

Key Benefits of Creating Comparison Content:-

• 10x Chance to get ranked on Google Search Engine.
• People are ready to make a decision for purchasing products or services as they know about these two companies they’re just looking for the last-minute details to choose one over the other so the level of intent behind this traffic is very high.
• If they go ahead and click on either products links you gonna get affiliate commission.
• Therefore a lot of opportunities here for making comparison content such as Amazon Affiliate Product Comparison Website, Digital Product Comparison articles or videos, etc.

So comparison content creation is one of the best ways in my opinion for generating affiliate income or passive income and because you’re going after these long tail keywords it’s not very competitive and so it is a lot easier to rank for.

7. Passive Income From A Membership Site:-

If you’re not familiar with what a membership site is, it’s basically creating content that are exclusive for members only, or there are information behind a paywall that requires people to pay a monthly subscription to access.

Key Features Of A Membership Site:-

• You earn monthly recurring income as long as your subscribers use your product or services.
• This recurring revenue model is very predictable, you already knows how much you gonna earn per month.
• You need to setup this membership site once and then you gonna earn pure passive income doing nothing.
• You will have to create the content for the people who wanna subscribe your product on monthly recurring fee, but if you do it the right way you don’t actually have to create that content in the first place.
• You can outsource freelancer who can create valuable content for your membership site.

So if you guys do want to learn more about a membership site, and how to start business on it then I highly recommend go-to place for this is Teachable that is the best platform that basically do all of the back-end work for you.

Now you must be thinking that who is that Robo-Advisor? So here is the answer… A robo-advisor is a piece of software that allows you to invest automatically without your contributions and it helps and advice you for setting your goals and investing your money exactly how you want over the time.

Key Features Of Investing In The Stock Market…

• Investing for appreciation is not a passive income source. However it can be, if you consider investing in stocks that offer high dividends for their shareholders, than it could potentially generate impressive cash. Here robo-advisor gonna help you a lot for selecting perfect stock for your investment.
• Here are The Best 11 Robo-Advisors you can choose for your passive investment portfolio.
• Here you easily can find different general investing plans which are mostly just portfolios of stocks and bonds.
• Some portfolio are conservative, and some are more aggressive.
• They also offer retirement planning so they have different target date retirement funds based on when you plan on retiring.
• This is a passive investing where you put your money in this and you completely forget about it and you leave it there to earn compound interest and earn more money over time as a passive income. 

Here you can find hundreds of youtubers who invest a few amount of money
fro creating the channel and purchasing the products to review and
converted it into millions of dollars using YouTube channel.
Now
they’ve hired many full-time employees for managing their backed work
and they have established a full time business round YouTube channel.

Key Features Of YouTube Channel Earnings:-

• Here you can make YouTube Income without investment
• YouTube is a social media platform, you can make money here but YouTube not responsible for your failure.
• YouTube is a video sharing platform, so you can share any video file here but that should be your own and socially acceptable.
• You can develop your brand using YouTube or you can become social identity as well.
• You can utilize your knowledge, experience and hobbies on YouTube.
• You also have some passive earning potential using affiliate marketing and collaborations.
• The amount you can earn with YouTube will vary based upon the number of subscribers, engagement rate, average audience, and more. 
• For ads, most YouTubers can expect around $0.01 to $0.03 per ad view. 
• Many YouTubers also make money by soliciting donations through patrons.

YouTube becomes a passive income stream after some time which just keeps on giving. After YouTube monetization your channel becomes eligible for sponsor ads which can generate recurring income from your YouTube channel. 

Key Features Of Building An App Income Stream:-

• An app has a huge advantage, if you can design something that your audience will enjoy.
• You have to consider how to generate sales from your app.
• You may run in-app ads or otherwise charge users a nominal fee to download the app.
• If your app gains popularity or you receive feedback, you will need to add incremental features to keep the app relevant and popular.
• If you pay little or no money for the project, you have little financial problem here, so consider investing some.
• It’s a crowded market and really successful apps must provide an attractive value or experience to the users.
• You will also want to make sure that any data your app collects is in compliance with privacy laws, which vary around the world.
• The popularity of apps can also be short-lived, so your cash flow may dry up faster than you expect.
• You can monetize your app in a number of ways, including running in-app ads, offering pay walled content, and charging for premium features.

But remember that the App Store is flooded, so everything you create has to be excellent and desirable.
Even if you have hit upon a successful app building idea, it may still need to receive incremental development and improvement in order to remain relevant and popular.

Key Features Of REITs Passive Income Streams:-

• You can buy REITs from the stock market just like any other company or dividend stock.
• The best REITs offer a dividend that grows regularly and can act as a passive income source in the future.
• You’ll earn whatever the REIT pays as dividends, and the best REITs have a record of increasing their dividends on an annual basis, so you can have an increasing stream of dividends over time.
• Like dividend stocks, individual REITs can be more risky than owning an ETF containing dozens of REIT shares. A fund offers instant diversification and is generally safer than buying individual stocks — and you’ll still get a decent payout.
• You will need to analyze every business you can buy.
• If you do not understand what the stock market is and how it works, then you may have to face huge losses. Like any other stock, the price can fluctuate a lot in the short term.
• REIT dividends aren’t safe, even through tough economic times.
• If the REIT doesn’t generate enough income, it must cut its dividend or liquidate it entirely. So your passive income may be affected when you want it the most.

To build your passive income stream from REITs, you must automatically keep reinvesting your dividend money to position yourself for higher returns.

You can also benefit from your designing talent through Amazon With Amazon Merch, all you need to do is upload your designs, and Amazon will create the product, sell it, package it, and ship it too.

Key Features Of Graphic Designing Income Streams:-

• You can start with your own design and see what interests the market, and expand from there.
• You may be able to capitalize on a growing interest in a current event and design a shirt that captures the spirit of the time or at least takes on a sarcastic look.
• And you can even set up your own web storefront through a site like Shopify to market your goods.
• Printing partners allow you to ship items directly without investing in merchandise, avoiding one of the biggest risks of tying up your capital.
• But you can get a better price if you invest in some of the inventory yourself.
• You also can sell your print on demand products on Etsy Store.

You can print custom designs, and if your work captures the attention of users, you can get paid for your design while you sleep.

Key Features Of POD Online Store:-

• You’ll have to do some work creating art and researching what types of designs customers are buying today.
• You can easily build a steady passive income source from print-on-demand graphic designs.
• It is possible to outsource almost all permanent work, if you don’t have any designing skills’
• It is possible to build an entire portfolio of graphic designs that no one wants, and you have to create something desirable.

One of my best recommendation for choosing an online sales platform is Shopify. The number one spot with the largest number of integrations and tools. So don’t hesitate to get started with Shopify right away! 

Key Features of Writing and Selling eBooks.

• Self publishing has become more the norm today than going through a traditional publisher. Check out Amazon for evidence or visit any blog offering free e-books to sign up for their newsletter.
• In fact, when you buy an e-book from sites like Amazon, chances are you’ll pay for a self-published book.
• Self-publishing is ridiculously easy. The barriers to entry for becoming a (self)published author are zero these days.
• You can easily put your e-book up for sale on Amazon using the Kindle publishing tool.
• It will require a lot of upfront marketing before you can turn it into a passive income stream to make money. But if you can get it to work, you’re well on your way to maximizing this passive income idea and building a solid residual income stream.
• Amazon is the most competitive, so if you want to rank high in their search results, be sure to use best practices, including professional cover design (you don’t have to hire someone expensive) and lots of customer reviews.

If you are really ambitious, you can create a series of e-books or an in-depth guide on something that is not too broad and try to market your book on social media sites and Use services such as Twitter Ads (promote through their advertising network), Facebook Ads (target groups) or Google Ads.

Also using Oberlo Wholesale Marketplace you can connect with local, US-based suppliers, buy products at wholesale prices and sell them to your audience. You can combine this option with dropshipping by holding some products and dropshipping others.

17. Passive Income By Licensing Your Music

you’re a musician?, you can write and license your music anytime you want to get paid. When someone wants to use your track in their project they have to pay for it.

There are a few ways to make money by licensing your music, and it’s a great way to increase your income. If you have acquired some audio making skills, you should put them to work. An audio track can be as simple as a jingle or podcast intro.

• Creating some audio tracks for other people to use is a great way to earn some extra cash, because people constantly want to brand themselves with the right sound.
• The way to start is to move your work to a library that hosts content like Spotify, iTunes or Pandora. 
• It can monetize your passion for making music and even get you noticed by a record label if the song recording is lucrative enough.
• If you want to create complete songs and earn some passive income through royalties, you can license your tracks on platforms like SoundCloud and AudioSocket. All you have to do is research your audience and find out what kind of content is trending.

With the increasing demand for YouTube videos and podcasts, there is a huge demand for music. People are ready to pay a lot to try their hand at the best songs.

18. Passive Income By Selling Stock Photos 

If you always have your camera on your hand and you’re famous for taking excellent photos, you can monetize this passion by selling your images to stock photography companies. 

Key Features of Stock Images Selling Business…

• While you could launch a site to sell your photos directly, consider submitting your photos to stock photo sites such as DepositPhotos, the website used by Young and The Invested for sourcing stock photo material.
• The best stock images sites to sell your photos are Adobe Stock, Shutterstock, Alamy, etc. these are the most well-known sites.
• After the initial time spent taking and uploading photos, you can receive regular royalty payments for years to come.
• While being a photographer may sound like an active income business, it really isn’t. Photographers don’t make money just by taking photos. They sell them too.
• Stock image sites, magazines and canvas printing for your clients are some of the ways you can make big bucks in the photography business. All you need is a good quality camera to get started, it can even be your smartphone camera.
• Many stock image companies buy good quality photos taken on your smartphone, so this passive income idea doesn’t require any fancy equipment.

So now, you can also use your phone to take these photos and sell them on these sites to make passive income.

19. Passive Income by Hosting Airbnb

Now come to another passive income idea of the list that is Airbnb, the world’s number one home-sharing platform! While it won’t be suitable for everyone, if you have a spare room, vacation home, or any other ‘residence’, you may miss out on some impressive returns!

Key Features of Hosting Airbnb For Income

• Airbnb is an online platform that connects people who want to rent their homes or unused space, with people who are looking for it in specific locations.
• Airbnb and similar services have revolutionized where people stay while they travel. And it has opened doors to serious passive income.
• Airbnb is a platform that provides an easy and stress-free way for people to earn some income from their property.
• Guests often find that Airbnb is cheaper, has more character, and is more homely than hotels.
• Here you don’t actually have to buy a new property for Airbnb to make passive income. You can also rent a room in your current home or apartment if you have spare room.
• You can turn Airbnb on or off according to your preference. When you want to make some extra cash, you can rent your place. You can even rent out that spare bedroom.
• Being an Airbnb host isn’t really passive. Sure, you already have a house or apartment. But you still have to act as part landowner, part maid, and maybe even cook some food for your guest.
• You should be legally allowed to operate Airbnb from your property. Some cities, neighborhood associations, and home ownership groups forbid it. But if it’s legal, then Airbnb hosting might be perfect for you!

You can turn your home into a passive income source, simply by turning an empty room into a way to earn money while you sleep—by hosting bedtime guests! If you’ve been leaving your current location vacant for a while, consider renting it out.

20. Passive Income from Airbnb Alternatives.

This is an alternative option of Airbnb, where you rent out your extra or unused space not for days but for months. If you have room in your garage or additional parking space, you can rent these together.

• If you book space for an event, and you no longer absolutely need it, you should take a look at sites like ShareMySpace, where you can easily advertise your space.
• Alternatively, you can offer uninsured office workers and professionals a great place to work comfortably. This way, your tenant gets a comfortable working environment, while you earn a decent passive income. So it’s absolutely a win-win situation for both.
• That means you have hundreds of extra dollars in your account, and it also means that someone else lives in your house. Just make sure you both sign a formal rental agreement stating all the rules and regulations of the house, including who pays for utilities, and rules about guests, cleaning and sharing the refrigerator.

Letting strangers into your home comes with an unusual risk such as it could be for your tenants to sabotage or steal property from your home, or worse. However, if handled well with clear policies and guidelines, you can get paid and be on your way to earning passive income.

22. Passive Income From MLM Marketing

For those who are not familiar with it, MLM is a multi-level marketing program with residual income aspects.

 

In MLM programs, all members are encouraged to sell the company’s products. Of course, the participants get paid for it. But usually the big money comes from hiring others to sell those products under your account.

Key Features of MLM Business…

• Each person you recruit pays you a percentage of their sales, as does each person they recruit. So you encourage those people to recruit others, etc.
• Here you form a team in a multi-level – pyramid shape most of the time with several people at the bottom level and a few people at the top.
• Those at the top of this food chain earn residual income in their “line” through those below them. The people above are not selling themselves yet they are earning from those below them.

Here you can convert your entrepreneurial spirit into passive income. But keep in mind that MLMs are very controversial. Most people get bogged down in buying multiple products in advance, and then try to sell it to their friends and family.

 

So don’t make this mistake and start with small products and then increase it over time.

26. Passive Income By Becoming a Silent Business Partner

You
want to start a business but don’t have the time or expertise, you can
consider becoming a silent business partner. In other words, you invest
money in the company but do not invest your time in day-to-day
operations.

Therefore, you contribute financially as a passive partner and leave the day-to-day operations to your business partner.

So
as a passive business partner or as an investor, you will earn passive
income at regular percentage of profit, and your money will make money
for you without your active participation.

You
can find many websites on the internet that are looking for a silent
business partner to invest in their business. You do not need to think
about where and how to invest.