Passive income Opportunities are great methods of gaining financial freedom. We brought out the definition of passive income in our last post, “Easy steps to acquiring money without stress,” and went on to looking at steps to acquiring passive income.
If you are looking forward to having financial freedom, you should start thinking of generating some passive income. This, “Entrepreneurs Digest,” gives you some Passive Income Opportunities, that you can study and see which best describes you and your financial situation.
1. Rental business is a great Passive income opportunity
Rental business is one of those businesses that work very well; it is a great source of passive income. You can start a rental business. The initial capital needed can be steep, and might require a larger time commitment however, the payoff can be huge and last for many years.
Rental business is most suited for workers and employees, people who have little time to commit to their business. It is very easy to keep track of your income without worrying about anyone stealing from you, plus you have enough time to do other stuff while your business grows.
2. Network marketing
Going by the very definition of passive income, network marketing is a classic example. This is because you build your network once and that network works for you, generating money for you even when you do practically nothing. The major problem with network marketing is the way many people go about implementing it. Most people focus on introducing more people to a network without properly training their downlines or providing them any support. The result is that only the experienced people at the top of the network make money while the others feel their way in the dark, wondering which step to take. The other problem is the explosion of half-baked ‘network marketing companies’ and Ponzi schemes everywhere these days. They leave many people with so much negative experience that nobody wants to hear about network marketing anymore. But there are good ones around; I urge people to give it a shot. Just make sure you receive proper training about how to sponsor and train your own downlines. This is the only way you can build a resilient, sustainable network which will create a great passive income opportunity for you.
3. Treasury bills
Not everybody can stomach investment risks. Treasury bills are excellent passive income opportunity options for the risk averse individual. With treasury bills, you can relax and watch your money work for you. How do treasury bills work?
The good thing about investing in treasury bills is, it makes more sense to have your money yield more money for you than to let it sit in your bank doing nothing. Kindly Visit any of the Stock Exchange markets.
4. Build an event center
Many people would prefer to hold their events in a nice hall than to risk disruption of events by rainfall or bear the scorching heat of the sun. For this reason, people who build event centers always make money on auto-pilot. So long as people have events, owners of event centers will always make money.
If building an event center is something you can afford, then this is a perfect passive income opportunity for you.
5. Write a book
The days when you had to wait on publishers to print and distribute your book are long gone. Many people still prefer to produce their book through publishers for many good reasons. But if you want to, you can self-publish your own books right now without hassles. Sites like Amazon
6. Create an online course
creating an online course on anything you are knowledgeable about, is another great passive income opportunity . You simply need to choose a good platform to sell your course. You can sell your online course on your platforms – blog, social media, etc. – or you can publish your course on sites like Udemy. Once you have good content, you just relax and watch your passive income opportunity roll in.
These days, it is easier than ever to start an e-commerce business. If you are not selling online, you are losing out on a lot of money. You don’t need to have a large website like amazon or jumia to start e-commerce. You can use your social media platforms to sell. The beautiful part is, once you automate the process, the business runs itself.
8. Invest in startups
You may not have brilliant, creative ideas to solve world problems but you can invest in people who do. There are countless people who have startup ideas but lack the capital to bring their ideas to light. So you team up with them and own part of the company. The business could go bust, of course, and you would lose your money, which is why you need to learn a lot about investing in startups before you start this. Thankfully, the internet is a rich repository of information so make friends with Google and start learning. The world awaits!
You can buy a vehicle and let other people run the transportation business and remit regular, predetermined returns to you. First, you would be helping reduce unemployment among young people. There are also passive income opportunities in creating web and mobile applications that can easy transportation. Examples are taxify and uber.
10. Affiliate marketing
Affiliate marketing, is the next passive income opportunity and one of the best way to make money online after freelancing. Best of all, once you properly set up your affiliate marketing business, it runs itself. So once you start making money, you don’t stop even if you travel to Mars.
An affiliate marketer is an online salesperson who promotes products in exchange for a commission.
For most of the affiliate programs, you only need to place their banners and links on your site and the system does the rest. However, you will do better if you master sales skill. It’s a vital skill in affiliate marketing. The more you are able to convince people to buy a product that will be of benefit to them, the more you will make money.
11. CDs (Certificate of Deposits)
These are like a savings account that you have to keep in place for a certain amount of time, for a guaranteed return. Again, simple, but a great place to park some cash that you may need in a specific amount of time and don’t need immediate access to.
12. Peer-to-Peer Lending
This is a good passive income opportunity but you need to have the right people. This entail borrowing money to your colleagues or friends at an interest to be paid at a future date.
Yes, you can make money while you sleep. But you need to sacrifice time, effort and resources creating your passive income opportunity streams. Once you have your system set up, you’d be amazed at how your finances would change.
Passive income opportunities are perfect ways to allow you to spend more time with family and keep yourself free of stress.
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