Passive income in a global pandemic? 3 tricks we have learned to succeed in any environment-sanewnetworks
As of 2019, the US Census Bureau reported that about 13 million workers in the US have more than one job, and that number is growing. Whether it’s related to a need or desire for additional income, or exploring other areas of interest, the bustle communities have a holy grail both online and offline: an untapped resource of passive income.
When we talk about passive income, it is argued that no income is completely passive: most require at least some initial investment, if not regular management, to be truly successful. However, there are definitely ways to complement your day to day work without wasting all your free time.
At this point in the year, it’s no secret to anyone that many of the traditional lanes and paths that entrepreneurs have used to make extra money have either collapsed or shifted in different directions in an attempt to become virtual or remote.
Adaptation and innovation remain the two qualities that enable businesses, entrepreneurs and creative people to survive and even thrive during a pandemic. With tips from content creator Tyler Helder, micro influencer Laura DeMartino, and entrepreneur Justin Gilmour, you can find three different paths to turn your side hustle and bustle into passive income in 2021.
Online Passive Income – Content Creation Through Social Platforms
Content creation is one of the fastest growing and dominant forms of online income that you can tap into. Blogging or vlogging are just two ways to start building an audience, firstly by making yourself an established creator, expert, or leader in a specific niche, especially in an area where, as you already know, there is a high demand for advice or special interest. While some top contributors have salaries in the millions across platforms, you have to be committed to the process if you want to grow profitably.
Now, some people can go into content creation in the hopes of going viral and gaining hundreds of thousands of followers and making deals with brands like some of the Instagram influencers or Tik Tok stars you see or hear that are going to explode on social media very quickly. In most cases, this is due to the constant increase in subscribers and traffic thanks to regularly and carefully selected content, but sometimes the right 30-second clip, photo or tweet can turn someone into an Internet sensation in the blink of an eye.
If you are looking to start building an audience around video content that is longer than the average smart Tik Tok, building a YouTube channel is the right way to go and can offer you more earning opportunities than other new platforms.
Virtual Stores and More – Affiliate Marketing and Shopify
For those who already have an audience, whether on Tik Tok, Instagram, YouTube, or even their own website, one way to start earning additional passive income is through affiliate marketing.
Affiliate marketing is a process where people help direct traffic from their personal pages to another brand’s pages and often earn commissions on clicks that turn into purchases. The average affiliate marketer can make around $ 100 per customer, which can add up quickly if you commit to promoting these brands.
Most of the money that influencers make on any platform often comes from ad revenue. For example, Tik Tok creators can earn anywhere from $ 200 to $ 20,000 on branded content.