Updated: Jun 20, 2022
The digital revolution: Rich with opportunity, helping the masses let go of their 9-5 and become immersed in everything the world of online has to offer. A time of change. And for many people, the key to living freely, without having to answer to bosses, endure cumbersome commutes and adhere to constricted schedules.
If you’ve ever tapped through Instagram, you can undoubtedly vouch that the phenomenon is undeniable. Well-presented professionals positioned under nodding palm trees, surrounded by the latest MacBook, iPhone, and the picturesque view of dreams. A far cry from your coffee-stained office, met only with a quick scroll past and a sigh. After all, there has to be a catch!
With 4.37 million self-employed people in the United Kingdom, going solo in the world of business isn’t reserved for those benefiting from a jaw-dropping skillset, a wealth of connections, and a hearty investment. With new money-makers arriving to the internet every month, passive income is just a click away. Whether you’re a jet-setting Eat, Pray, Love advocate or you’re simply on a quest to shun the rat race in favour of working from anywhere, this blog is for you.
If you have access to the internet (and if you’re reading this, you probably do!), you have all that you need to get started. Put your feet up and prepare to dive in!
Affiliate marketing represents the epitome of passive income, with your revenue stacking up as you go about your daily life. Simply join a program, obtain an affiliate link, and share it. If somebody opts to purchase the product you are promoting, you’ll earn a commission. A rewards process for bringing the customer to the company, it’s often easier to think of in the traditional sense: If you’re championing a brand on the high-street and you walk them over to the store, you’ll get a commission from that purchase.
A golden opportunity to monetise your interests, affiliate marketing gives you the chance to make your down-time profitable. As you drift through Instagram, Facebook, TikTok, and YouTube, simply drop your affiliate link as you go. Our advice? It’s all about knowing your niche. If your niche is travelling, why not set up a travel blog and link your favourite items? Vlog your travels and link your must-haves. Connect with your audience on social media, and spread the word on your go-to backpack, safety features, and trinkets. If your audience is already interested in what you have to offer, you’re ready to go.
Take Amazon Associates, for example. If somebody clicks on your link, you’ll receive a commission of up to 10% - incredibly profitable for high-value items. Top tip: Those who click your link can make any purchase on Amazon to count towards your revenue – not just the product that you have linked!
From awin to Fiverr to Shopify, Wayfair to The Home Depot, and Apple to eBay, there are affiliate programs for every niche.
Share your thoughts with the world! For most, the thought of being an author is nothing more than a dream. A title that represents a will to take others on a journey. And with the emergence of self-publishing platforms, getting your greatest plots, wildest life stories, inspirational words, and heartfelt advice out there has never been easier.
With eBook sales surging in the UK, now is the time to tell the tale that has been occupying your mind. At its core, eBooks are simply books published digitally, accessed through kindles, tablets, smartphones, and PCs. From fiction to non-fiction, short stories to lengthy novels, or even guides, eBooks are as versatile as libraries, with anybody able to boast the ‘author’ title. Without investing a penny, you can become a bestseller. Simply put pen to paper – once that’s done? The revenue is completely passive!
The most popular FREE self-publishing platforms:
Amazon – Keep 35-70% of your revenue.
Apple Books – Keep 70% of your revenue.
Payhip – Keep 95% of your revenue.
Blurb – Keep 80% of your revenue.
And if you’re not much of a writer? For a small investment, you can commission a professional to curate your eBook without sharing any of the profits. With freelance platforms such as Fiverr, Upwork, and Freelancer, connecting with like-minded professionals is just a click away.
Starting an eCommerce store can be a daunting prospect surrounded by endless question marks. How much will I have to fork out on the initial outlays? Where can I keep the stock? What about the logistics of running a business? Where should I source the products from?
With the world moving online and eCommerce representing the future of retail – with online purchases forecasted to account for 95% of spends by 2040 – switching your sights to the limitless pool of online can be incredibly fruitful. But where do you start?
Dropshipping entails connecting with suppliers who will ship the item on your behalf, meaning you will never be responsible for time-consuming logistics. A lucrative option, dropshipping allows you to make limitless revenue, without having to leave your laptop. And the best part? It requires no prior investment!
To optimise the opportunity, dropshipping involves more than merely selecting a product and hoping for the best. Like any business, competitor research is vital. With millions of online stores across the globe, it’s vital to hone your USP (unique selling point), offering a distinct benefit to your audience. From competitive pricing to quirky designs, or perhaps bringing your product to a new audience (think ultra-popular Korean skincare, American snacks, and Italian fashion), opportunity is rife.
Then, it’s time to find a supplier. A seamless experience through supplier databases, namely AliExpress, Alibaba, and Dropship Direct, you can opt for either off-the-shelf products, or collaborate to create a bespoke item. Once your product has been sourced, it’s time to delve into marketing! There is a multitude of customer acquisition routes, from marketplaces such as Amazon and eBay, your own store, or even social media, with customers across the globe ready to purchase.
SPREAD YOUR KNOWLEDGE
Perhaps you have an eye for all things marketing. Maybe you’re a dab hand at Excel. Hey, you could be a knitting whiz! Whatever your skill is, there are undoubtedly people worldwide waiting to learn from you. With platforms such as Udemy, Skillshare, Teachable, Thinkific (and more!), anybody can publish their course for free, with royalties ranging from 25% (Udemy) to 95% (Teachable).
A lucrative field with uncapped earnings, publishing your course can act as a stepping stone to connecting with likeminded individuals, helping you generate an attractive income by offering your assistance through tutoring or consulting. Not only is it scalable, but you will see the rewards from your efforts without moving a muscle. And if you combine it with other income streams such as affiliate marketing, the potential is limitless!
SEARCH ENGINE OPTIMISATION
Using the internet to your advantage will enhance traffic towards your business, without the need for costly ads, time-consuming marketing, and trial-and-error. The average business receives 16% direct searches per month, with the remainder being discovery searches, meaning SEO (Search Engine Optimisation), Google My Business, and keyword research is vital to get your website ranking well.
Not only will an enhanced search engine ranking bring in increased visitors to your site, naturally improving sales and leads, but Google AdSense will provide a healthy return, placing targeted adverts on your page with commission per click averaging between £0.66 and £1.32. An incredibly seamless way to accelerate your revenue, once your website is ready you’ll be able to sit back and let the commission drift in.
If you see yourself as something of a creative, creating digital pieces for others to download is an efficient way of maximising your income. From wedding planners to income trackers, artwork to gift tags, decorations to colouring pages, and craft patterns to greeting cards, the digital download industry is booming. And there’s so much more to come!
An incredibly low-risk option, Etsy is one of the most popular platforms for digital downloads. Free to sign up, with a £0.15 listing fee, a 5% transaction fee, and a 4% + £0.20 payment processing fee when an item is sold, the platform will take care of the full A-to-Z, giving you a passive income stream. Similarly, WooCommerce, Easy Digital Downloads, Restrict Content, and Teachable are free alternatives, giving you access to a global market, without limiting your geographical reach with restrictive shipping and language barriers.
With no initial investment, no inventory and real-time delivery, digital downloads allow artists to get creative, without the time, effort, and resources involved in bespoke commissions.
Ultimately, there is a multitude of investment-free passive income streams online, helping to pad out your wallet while you sleep. Utilising the arsenal of purpose-build platforms online, following your passions and adding to the digital database of knowledge, or letting your creativity flow through captivating artwork, the world of online is rife with opportunity, making your 9-to-5 a thing of the past. You just need to know where to look! Catching Zzz’s while collecting $$$’s.