In my opinion, the best way to get started making passive income is through online business. It takes way less capital than stocks and real estate and the ROI you get can be much higher.
I’ve tried pretty much every business model out there…
Some have worked. Others haven’t. Some require a lot of capital. Some can be started for free.
My goal is to point you in the right direction on how to get started. I have 2 favorite business models and the reason is that they both require zero money to get started and they’re the most simple and long-term options in my opinion.
My definition of passive income isn’t income that takes zero work. My definition is spending time upfront to create an asset that takes little work maintaining it. It’s not easy and it’s not fast but it’ll allow you to take 6 months off and still earn money with little to no work.
Here are my favorites…
Business Model #1: Affiliate Marketing.
Affiliate Marketing is simply referring people to products/services and getting a commission to do so. You don’t have to create anything yourself, do any of the customer support, or ship any products. All you have to do is create content or advertisements that send people to the products and if they buy, you get paid.
In my opinion, it’s the easiest and best business model to get started with and it’s the one I spend most of my time on these days. It’s free to get started and you can still create your own products/services down the road (which you should, but not right away).
This model has always been around and it always will. All the big companies out there (Amazon, Tesla, Walmart) have affiliate programs and you can promote their products. It’s a win-win-win. You get paid, the company gets a new customer, and the customer gets the product they’re looking for.
If you’re low on cash or don’t want to have to deal with people, this will be for you.
Click here to learn more about affiliate marketing and the exact steps I took to get started.
Business Model #2: Digital Marketing Agency.
A marketing agency is simply helping other businesses with their online presence and getting more customers. It’s free to get started and it’s definitely the fastest way to get from zero to a full-time income. It’s probably the fastest growing online business right now, but that being said, you’ll have to be willing to contact businesses and sell your services.
There are so many different things you can offer and businesses are willing to pay a lot of money for your help. It could be running their Instagram/Facebook accounts, setting up their website, or running their ads…
The best thing about it?
You don’t need to have any sort of knowledge to do this. You can learn how to run Facebook Ads in a couple of days and get a client to pay you $1000/month by next week.
If you don’t mind sales and reaching out to businesses, this will be for you.
Click here to learn more about a marketing agency and the exact steps I took to get started.