These are the most effective business ideas I’ve found to immediately start building passive income streams.
Whether you’re a seasoned vet or a kid out of college, these techniques apply to just about everybody.
Someone once said that the average millionaire has 7 income streams.
So, let’s get started.
First, a few ground rules:
Don’t quit your job.
Jobs give you money and stability while you get your feet wet.
Unless you’re bringing in 50% of what you make at your job, do yourself a huge favor and keep your job.
Persistence is key – just ask this mouse.
Passive income isn’t a get rich quick scheme it takes 5am hustle, creativity, and dedication.
It’s a frame of mind and a lifestyle choice.
Small wins build momentum.
Find something you enjoy or think you’ll be good at and start there. If you’re a designer and think you’ll do well creating icons or patterns, then create 1 thing and get it online to make your first $1 as fast as possible.
Here’s 27 business ideas and passive income streams.
Find one that catches your eye, then hustle as hard and fast as you can, until you figure it out.
NOTE: This list also includes ways to organize and/or save money through special techniques
(which in many cases is just as important as making money, especially when you’re not good at managing what you have already)[/yellowbox]
Ok, here’s some ideas to get you started…
- Sell icons on TheNounProject (roughly 4¢/download)
- Sell icon packs or digital goods on Gumroad
- Sell icons, web templates, print templates, animations, photoshop actions, and almost anything else on Envato
- Sell stock photos on iStock
- Sell hand crafted products on Etsy or Handmade at Amazon
- Sell a Kindle eBook ($0.99 – $2.99)
- Sell a soft-cover Print book on Amazon through CreateSpace
- Sell an Online Course teaching others how to do something using Teachable.com
- Apply for Cash Back Credit Cards (2-6%)
- Apply for Credit Card Offers ($250 credit after spending 1k in 3 months)
- Make purchases on your Credit Card that qualify for special offers (e.g. Spend $150 at Target get $10 back)
- Open a Checking Account (Banks may send you offers when you apply for credit cards)
- Start a lifestyle blog and make advertising revenue through Google Adsense
- Start a YouTube channel and make advertising revenue through Google Adsense
- Sell Affiliate products through Click Bank (be careful legally)
- Sell Affiliate products through Etsy’s Affiliate Program
- Start an automated T-shirt, Poster, Pillow, Mug, etc. business with Printful.
- Complete surveys for cash or points with eRewards
- Re-sell physical products on Amazon.com (Fulfilled by Amazon)
- Sell your own brand’s physical products on Amazon (Fulfilled by Amazon)
- Promote Amazon Products through affiliate links (Be careful legally)
- Create a Budget with EveryDollar
- Open your cash on hand by paying down debt and selling un-necessary items (Like a new car)
- Turn off your lights and unplug stuff you aren’t using. Electricity is expensive.
- Get on a consistent meal plan so you don’t overspend on food. Eating out is expensive.
- Buy dividend yielding stocks (~$2/year per stock)
- Invite all of your friends and family to your email list and send them recommendations with Amazon affiliate links. (Make sure you let them know)
- Build a larger email list and sell to subscribers.
That’s more than enough to get you started!
Not impressed by the money saving / frugal ones?
Here’s a few more creative ones. . .
- Buy a puppy on Craigslist for $100. Sell them for $200 to a nice loving home. (true story)
- Help your significant other start their business.
- Make a Christmas List: write a note to Santa for your family every year and fill it with Amazon Affiliate Links (and legal disclosure)
Advertiser Disclosure: Support us! Some links to websites and recommended products from this website will earn an affiliate commission.