3 Smart Passive Income Ideas

QUOTE OF THE DAY

3 PASSIVE INCOME IDEAS

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Passive income is a myth, or so they say.

The idea of not working and still making money is a skill you have to master, a skill that takes years to develop, or is it just a form of leveraging work so that it's disconnected from your time?

Yes, yes it is, and if someone tries to sell you a way to ‘make money in your pyjamas’, run away from them extremely fast because they are carrying out the best way to make passive income on you—teaching you how to make passive income.

So let's break it down. Let's go through 3 methods of generating income that are extremely easy to disconnect between your time and the effort that you put in.

1. Create Content

Creating content is a fantastic source of passive income because, as you scale as a content creator and start to make money from your content, the amount of money you can make for the work that you put in is unprecedented.

For example, let's say you had 100,000 followers on Tiktok and a brand wanted you to make a 30-second video, which they paid you $1,000 for.

That's $1,000 for what may have taken you 10 minutes to script, 2 minutes to record, and 20 minutes to edit, so $1,000 for less than 30 minutes of work, and those numbers scale as you scale into the big leagues, where you can end up making thousands for the little time and effort that you put in.

The argument is to be made that it's not about the 30 minutes you put in but the months you spent building your audience, and that is valid, but if you treat making content as a hobby, then you’re being paid for what you love to do.

2. Create a Course

No, seriously, create a course. It sounds random, and you may be thinking, I don’t know what to make a course about; why would anyone buy it? How would I even market it? And if you had those thoughts, you would be completely in the right to. The reason creating a course is a fantastic stream of passive income is because, in theory, you make it, you sell it, and that's it.

This means your time and effort are disconnected from the return that you get, and lucky for you, a lot of the previous thoughts you may have had have solutions to them. For example:

3. Stocks & Investments

Stocks and investments are the ultimate stream of passive income and have been a staple in the passive income world since the first investment app was available to the public. The idea is that you put your money into something such as Apple, and then the 164,000 employees at Apple help grow your money for you.

Yes, that's how it works: you invest in Apple stock, and as their company grows, so does your money.

The only caveat here is that in order to get a considerable return, you need to invest a considerable amount of money in the first place, so it's sort of a chicken and egg situation: you need lots of money to make lots of money, but in order to get lots of money, you need to be able to invest lots of money.

ACTIONABLE NEXT STEPS:

If you want a list of 10 other passive income ideas, take a look at this free cheat-sheet that we put together!

LESSON OF THE DAY ⤵️

To stop comparing yourself with others, you need to be contemptuous of what you have and the journey that you’re on.

It’s hard to tell when you’re the one on your own journey, but your journey is drastically different from others; no one shares the same experience as you and has been through the same trials and tribulations, which means that your path is unique.

The only way to stop comparing yourself to others is to accept that your path is unique to you, and you’re lucky to be on it.

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