Passive income comes from a business that one does not actively participate in. It is usually referred to as a way of making money while you are asleep.
YouTube can be accessed from every part of the world. It is a source of news, entertainment, and education for many. People can create videos about anything be it comedy, lifestyle, food, music, movie reviews, fashion, health, etc. Monetizing your YouTube can be done by attaching google Adsense which allows ads to run in the middle of the YouTube videos.
You have to attract a new audience and maintain the ones you have by creating compelling videos. Passive income comes from watching the videos, ads, liking, and commenting on YouTube. It will also depend on the number of subscribers you have, the income is basically based on algorithms and analytics.
This is a type of income that comes from promoting a product or service. You are paid a certain percentage of the sale completed. The income is usually commission-based. This is suitable for bloggers, people who have active websites, and influencers.
Brands can approach you or you can find them by directly contacting them. This income is easy to get especially to people who are already established and have a thousand audience or followers. The promoters work with products and services that interest their audience or of high demand.
Selling Products Online
The internet has a wider market compared to having physical shops and stores. You can sell a product or service of your choice online. There are various platforms to advertise your products from Facebook, Instagram, Twitter, websites, etc.
Creating a specific website for the product is a more professional way. Selling products online is considered as a passive income than going to work every day. You can do affiliate marketing by offering products and services to particular websites and blogs related to them. The most common affiliate platform is ClickBank.
Becoming An Angel Investor
An angel investor is one who provides capital for a business and instead of being paid back you take an equity position in the business. You only participate in taking the profits while the business owner runs the day to day activities.
An angel investor can come in when a business is about to collapse or needs expansion and the owner doesn’t have the money. They rescue a business when most investors are not willing to come on board. Most angel investors prefer being silent partners and are only consulted when decisions are made.