Passive Income Business Ideas for Millennials; Getting off the Matrix
Look around you. Everyone busying themselves up to death trying to make a living. It’s the matrix and you’re in it too. Selling off your time; your dream; plus your freedom for money. You are your Keanu Reeves and it’s about that time you wake up to live the life that you want. You are THE ONE and now is the moment to be free, with your responsibilities taken care of, to achieve your true life purpose. But how? The buzz around the so-called passive income business ideas for millennials is growing wild. But each time you try at one of those 3grands-a-week secrets flashed at your face on your Favorite YouTube channel you end-up throwing money away. Is it just you? Or your financial gurus are trickily making money off of you with those paid courses and memberships? It’s getting to that point of considering financial freedom fictitious.
LISTEN UP. I have been there looking for how to make passive income online. But the truth is the internet is one big network of thick webs designed by the smart spiders for poor little flies like you. You give in cash-by-cash and minute-by-minute once caught in it. But today is different. PAY ATTENTION to the 5 passive income business ideas for millennials I have put together here. They are the only 5 that have truly worked for me out of the 30+ tested through the years. But before I give them out for FREE let me show you what passive income truly is.
What is Passive Income?
Passive income is often misrepresented as FREE money. No, it’s not about lazing about and getting paid for being the next-door neighbor’s pet-keeper. There’s work to do at the initial stage. Think of it this way. Creating passive income sources is like digging a deep well that never runs dry. The more you dig the bigger the chances of never having to dig ever gain. Get the picture now? Passive income is the money you make forever after an initial struggle. The whole idea is represented perfectly as building a money-spilling machine. We call these machines funnels. You work real hard to build these funnels but once built you’re forever in money and never going to have to build them again. They keep working for you. But the big question is, how do you create your own funnels that keep spilling cold hard cash into the bank for you? Throw that membership card back right at your guru’s face and be committed to the 5 passive income business ideas for millennials I’ll share here with you. Let’s get to real work.
Join an affiliate program
Your gurus will never tell you this and those that do will never link you up with the best affiliate programs online. Okay, it’s possible you don’t even know anything about making money as an affiliate marketer so here’s a sneak peek of it. Joining an affiliate program, you take up the responsibility of helping people sell and receiving a percentage on each sale. But didn’t I just mention freedom? Well, there’s is no door-to-door marketing involved really. In fact, you don’t have to see the products you’re marketing in the first place.
Remember we are building funnels that generate money over and over again here. All you need is an audience or a market and a product seller offering affiliate programs or partnerships. Some of the best places to join affiliate programs are clickfunnels, clickbank, Compact radius, and Skillshare. They have loads of digital products up for sale.
Signing up is free and easy. Once signed-up, you’re awarded unique affiliate links to every product you wish to get out there. About getting the words out I recommend running an ad on Facebook or using your social media handles if you have large followings. Running a Facebook ad is most potent and the average cost of advertising on Facebook is 7.19 bucks per every one thousand persons that go through your ad. You get to run this ad once and it works for you for as long as you want. The average amount you can earn on a sale for most digital products Clickbank is 80 bucks. Do the calculation later. More golden passive income business ideas for millennials below.
Write a book; Watch it sell
Er… but the writing process, then getting your book published, and marketing it, and… dughr. We are passed the Stone Age and creating a book from scratch and making passive income off of it is as simple.
First off you don’t have to do the writing job. Get a great book idea and hire a freelancer on Upwork to flesh-out your idea into pages. The average cost so far falls between 100 bucks and 150. For the publishing part, it’s totally free and easy. Yes, read that again. You can get as much book as you want published for free in a split second on Amazon kindle or Lulu. In fact, these two publishing platforms offer free marketing services. But you may take it up from there if you have a ready market to sell to.
The worst book ever had been sold at 10 bucks so even if you’re looking to sell a much worse book it would be sold at 5 bucks at worst. Right? But this is promising. You are actually selling information which is the most sought-after commodity of the present age. You can sell up to 30 copies a day. And even if you’re hitting just a sale a day on your 5 bucks book that is 150 bucks every month forever. Solid passive income machine this idea is.
Sell courses online
Do you have a special skill that is on demand and people are ready to learn? You can turn a single video into a money-spilling machine right away. Right now as the world keeps pacing the need to learn fast and learn at a fast pace, even on the go, is pressing. Sooner or later the four walls are coming down and education will be only done online. Now is the best time to make a big stride into this unlocked industry. And getting in is absolutely free.
First you create your online course with one of the best video maker software for online course then you put it up for paid signups. One among the best platforms to sell your course online is Udemy and you may get it done for free. Once your course is up, Udemy lists it up for you so it generates signups every day. The great part is you may sell your course at your price of choice. If you happen to sell a course that people want to buy, will recommend to their friends, and will buy again in the future, you’ll be creating your financial freedom.
Create a YouTube Channel
A lot of people already know the potentials in having their own YouTube channels but starting from scratch and getting up and running is where the but’s kick in. Easy. Creating your YouTube channel is totally free of charge. You may create as many as you want but I’d say you should open as much as you can manage actively. The most important thing is creating a YouTube channel that people are waiting for so you don’t throw in the towel frustrated with an everyday zero views through the first 3 months. You may do the finding-out yourself or look it up online for the best YouTube channel niches you can pick from and build yours around.
Once there, proceed by shelling-out the videos your audience wants to see. Do this actively, pay attention to YouTube SEO and the views will reel themselves in on autopilot. Meanwhile, there are some secret ways to generating consistent large views on your YouTube channels every day. With a large audience, several businesses will rush at you to put 3 – 30 seconds ads up at the beginning of your videos and you get paid for that. You can also monetize your channel with Google Ads. Another of the best ways to generate passive income from your YouTube channel is selling special videos or tutorials.
Create a digital product
Freelancing, as I have seen, had been considered a passive income idea. But I object to that. Freelancing may give you freedom but you get paid for your time and effort alone. Once the job is done you get paid and that is all. It is nowhere near any of the passive income business ideas for millennials I have shared so far. As a millennial, you want to dig the well just once like I pointed in my analogy. Once dug, it keeps putting water in your bucket. So here’s another machine you need to build that will never stop filling your pockets up.
Creating a digital product. The SaaS (software as a service) is a massive industry. WordPress is in it. Ahrefs is in it. Okay, those are big names but we had some startups few years ago who launched with nothing but are now making a killing every day. The market is big and so the competition never gets tight. Just get in with a software that solves a problem online and the signups are never-ending. Some of the digital products you may sell online including but not limited to; customer management software, email marketing software, content development software, and the list goes on. The great thing is you don’t have to create your product. Hire a developer on any of the best Freelance platforms online to do the work. You pay your developer once but people keep signing-up for your software every day. You get paid for first-timers’ signups as well for the renewing customers.
Creating a passive income model takes work, effort, relentlessness, dedication, and hard work. Your gurus don’t want to tell you this. They want to keep telling you it’s easy so they can keep selling to you. Get off that hook now and jumpstart with any of the passive income business ideas for millennials that I have shared above. Once your model is built, and to say that you may build upon all of the 5 above, it keeps working for you. Only then will you be financially free.