My 5 Passive Income Streams — How I Make $2,000/Month
Passive income is not a nightmare, You need the right skills and mindset.
It’s weird to say but I focus more on teaching something precious over writing fancy stuff that reveals nothing at the end.
You are here to learn the right strategies and processes that generate passive income for me and you can apply the same.
Don’t you agree with me?
It’s the fact and you will learn to earn from my secrets.
Just bear with me for the next 6 to 10 mins and surely you will unlock everything that I have been doing for the last couple of years.
To be very honest, I share most of the earning proofs, tips and tricks to make money online on my personal blog before publishing anywhere else.
Let’s jump on the topic.
Believe me, passive income is not possible until you work on something that can be turned into passive income from active later on.
YouTube creators, Facebook reels creators, freelancers, bloggers, and even Medium writers turn their passion into a passive source of income only when they put the hard work first to grow it to a decent position.
That’s why it’s not going to be passive until you work actively.
Though, you need not invest 10000s of dollars or 5 to 10 hours daily.
I mean, even if you add just 60 mins daily, I believe, you can turn your passion and business into a passive income stream.
- You work for 60 mins daily for your passion.
- Grow your business to a great extent and build community.
- When money starts to flow, outsource your work and make money passively.
This is how I make money now.
My 5 Passive Income Streams:
You can also make money passively.
- Make money on my Blog and Medium passively
- Freelance and IT consulting work
- Affiliate marketing
- Stock market investments
- Selling pre-recorded courses
That’s it. I have no other passive income streams as of now. But in the process of setting a few and will love to share in the coming days.
Though, you need to know this:
- I work actively at Medium and other places to make money.
- Also, make money when I’m not doing any work.. i.e. passively.
Let’s learn about all of it in detail.
1. Blog/Medium Passive Income
I have a personal blog where I write mostly about business strategies and ways to make money online.
And it keeps me making money when I am not around the blog. Just like Medium, I monetize my blog with ads and other offers that keep on working for me to make money even when I’m sleeping.
You can also learn to create a blog in just 30 mins and monetize to make money passively.
👉 Create A Blog And Earn Passively — Complete Guide.
2. Freelance and IT consulting work
I’m a 5-star rated freelancer and that helps me to get many web development, digital marketing, and content writing projects every month which I can’t handle alone.
So, As much as I can manage, I keep with myself, and the rest I outsource to my fellow freelancers who are struggling.
That makes me money passively.
- Even if you are outsourcing, it’s entirely your responsibility, and can’t compromise the quality of work. Else, it will ruin your business.
- Never re-hire an amateur to work on your client’s websites and save more than 50% of project costs passively.
I have 52 reviews that don't mean... I have worked on that many projects only. I run ads on Google to generate leads and have many other sources.
This is just one example to help you explore.
3. Affiliate marketing
Sometimes, I monetize my blog posts on my website as well as Medium with affiliate links and offers.
When my readers feel like trying the services that I happen to discuss in those posts they click my “affiliate link” and buy.
It costs no extra money to them than the usual pricing though I get some commission for every sale.
That happens passively.
- I don't ask them manually to buy or try any services.
- It’s a win-win for the author as well as the readers. They find the right products and services without paying any extra charges and authors make money with affiliate marketing.
- You should never sell something spammy in your articles.
I have already written a detailed post which can help you learn all about affinities marketing and how you can start without any money.
4. Stock market investments
I have been investing in the stock market for nearly 4 years now.
- It’s a very risky game and you may lose all of your money. I lost initially $5000 investing in the wrong stocks. Take advice from experts to earn passively.
- You just invest in the right stocks and it will grow your investment over time without any extra effort.
- Firstly learn and then invest.
- Blue chip stocks always make you win the race sooner or later.
- It’s a game of patience and the right stock selection.
Your return on investment could be 15% to 500% if you found the right stock. Many stock brokers can help you to select and make money passive.
Ideally, on an investment of $500, it’s quite easy to earn $10 to $50 per day provided you are on the right track.
5. Selling pre-recorded courses
What I am teaching here to you for free. Many entrepreneurs take my courses to learn and make money online.
The pre-recorded courses can help you to generate a huge amount of passive income.
I mainly provide courses on demand with the exclusive right to learn, distribute and sell on various platforms.
Though, there is a better and easy way to sell courses to generate passive income while you are sleeping.
Follow the steps:
- Reconds a video lecture about anything that you have a better knowledge of and people are interested in learning.
- Go to Udemy for teachers.
- Upload and list your course at Udemy.
- Udemy has millions of registered users from 150+ countries.
- Its algorithms will help you to sell your courses even when you are not manually promoting them.
The more learners will be enrolled in your paid course, there more you will keep on earning as long as the video course is there.
It’s 100% free and easy, provided you know what to teach.
This was an awesome discussion until here. Let’s summarise this post to help you take the right decisions.
The takeaway for you:
Except for stock market investing, all other methods are best to try and it will take hardly $50 to $100 to start making money.
Though the more you learn the better you take decisions.
It’s impossible to share everything in just 5 to 10 mins of a post. I have given you the best possible resource in this article to learn in detail as well as you can explore other sources to mater the secrets.
Follow me, Mani Pathak, for more awesome stories about money-making, SEO, web development, and digital marketing.
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It’s time to take a leave. Thanks for your valuable time.
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