There are so many ways to make a passive income online
Ranging from the simple to the most complicated ones
People are setting up businesses in almost every field
So having a regular nine-to-five job doesn’t mean that you can’t get involved in the action
There are many options available online to make a passive income while retaining your day to day job
Here’s our guide on how to make a passive income while keeping up your current job
Construct a Plan
Give yourself some time to plan your options and your ideas to completion before you start anything
This will give you a broad understanding of what you need to do to make your extra cash, and how you will have to go about it to make it a success
Reach out to other people in the same situation and have a look at their business model
Figure out what you would like to incorporate into yours and write a full detailed business plan
There are many helpful videos on YouTube, depending on which kind of business you want to go into
Take some time to watch them and learn about aspects of the online commerce and business world that you otherwise might have overlooked.
Learn about what you want to do
Be detailed and honest with yourself about what you can already do and what you might need to learn
There are aspects of the online world that many entrepreneurs have to study before jumping right in
A great example is learning about SEO marketing – will you need to use it?
How would it suit the passive income idea that you have?
There are many courses online for free if you want to learn more click here for more information
Create a brand for yourself
To make a passive income, you have to create a brand yourself, create social media sites and a website if you need to
If you are working through another site, then make sure you have branded images complete with a logo to ensure customers know who you are and what you are doing
Create business cards that feature your logo and your personal information
Remember to leave an email address so that they can contact you with any issues
Business cards will help you to come across as professional and trustworthy
We have access to a great free-to-use business card site here.
Find your niche
Here you look for your niche where you can choose something that you enjoy and that you are passionate about
Try to find a reason for doing what you are doing besides making the extra money
For example, if you are drop shipping, perhaps select a product that you have a personal interest in
This will come across in your marketing and consumers will be more likely to choose your business as their first point of call
Define your Audience
Consider your audience and construct your idea firmly around them
Ask what they want and need from you
If you are creating an app or selling stock images, it might be that you are looking at a wide target audience.
Try to find out who is visiting your site and how they use it
It may be that you have to market yourself in several fields
For example, if you are selling stock images you will have to first find the photographers who are willing to join your site
This is one broad audience. Secondly, once you have a gallery of images, you will need to start looking at who might benefit from targeted advertising
Perhaps marketing firms and bloggers would be a great point of call
Remember this is supposed to be a passive income
You want the money to be rolling in, but do not forget to put the hard work in the start and set up as this is what matters most
Once you have an audience, you can pay less attention to the online business and more to your day job