Passive income is a great way to help you generate extra cash flow when you’re sleeping. Active income is not a permanent source. Passive income can help you earn more during the good times and helps you over if you become unemployed or even if you want to take time away from work.
With passive income, you can have money coming in even as you pursue your primary job. We have two things: need and desire. If you have a permanent job and earnings are not good then it helps to cover your needs. Building up a solid stream of passive income will help you to fulfill your desires. Either way, a passive income gives you extra security.
And if you’re worried about being able to save enough of your earnings to meet your retirement goals, building wealth through passive income is a strategy that might appeal to you, too.
Passive Income Sources:
OEM Partnership
Selling IT products and services in your own company name will always be a better option. If you don’t have a company then no problem, Ireava will help you to start your business without doing initial regsitration.
OEM partnership is easy way if you are good in sales or can hire sales persons then this passive income source will work like a lifetime pension plan. Ireava offers school ERP OEM plans, click to know more about it.
Affiliate Marketing
Affiliate marketing is good if you have online platform and have good audience on your platform. Otherwise it will not give you desire results. You do some marketing on social media sites for your links but it will not as effective. So, opt this source if you have good audience available.
Freelance IT Services
Use your social media network or your real world network to get IT service leads. Most people now-a-days want their app or to start online business but they don’t have much idea about it. Learn some basic IT terms and do partner with IT company who can work with you as a freelance. Get referral amount on every IT service your friend or any member wants from the freelance company. Ireava helps you to get this better and you can contact fbipool freelance IT service company. There are many other companies in the market who can work with you on this model.
Course Building
If you are good in something, record your skills as a educator and upload on course selling websites. For example: you are good in coding then record your lectures during creating a basic app that covers many functionalities and how to implement in programming language. Just like this you can record other skills and sell online platforms like udemy. You can earn via YouTube with the ads on your videos. Whenever someone buy your course you will get the amount and best part is you don’t need to do maketing for it.
Art Selling
Sell your premium photos and your art on platform like shutterstock, freepik and other platforms for extra income. If you are good in creating digital and real art you can earn a lot by selling them online. Whenever someone buy your art you will get the amount and best part is you don’t need to do maketing for it.
Code Selling
You developed a good product or plugin in coding and didn’t got the good amount for your work then sell your developed code on codecanyon and other related websites. Whenever someone buy your code you will get the amount and best part is you don’t need to do maketing for it.
Mutual Fund SIP
Invest in stocks, IPO, mutual funds and crypto is the other digital option for passive income. mutual fund SIP and IPO are the easy options. Only some research will give you good returns and if you want to go with the stocks and crypto then you need better knowledge and daily updates.
For IT services and OEM business help visit: ireava.com