Top 10 Methods To Create Passive Income Streams - Best Side Hustles

Passive income is not the luxury of a few selected individuals but should be the concern of everyone in this growing age of competition and inflation.

If you're stuck in a dead-end job with no chance of advancement, or if you just want side hustles to make extra cash to supplement your income, this article is for you. You don't need millions of dollars to create passive sources of revenue; The following 10 methods are legit side hustles and can start generating revenue for you from tomorrow. 

1. Blogging
2. YouTube Monetization
3. Freelancing
4. Affiliate Marketing
5. Selling on Amazon
6. Infopreneurship
7. Business Consulting
8. Dropshipping
9. Amazon FBA
10. Investing

Let's discuss all of them one by one;

1. Blogging

You can start blogging at Blogspot(like this blog), WordPress or other platforms. Blogging is a great way to create passive income. You can do it by setting up a blog and writing on it regularly. You can also make money from your blog by selling, advertising, or by selling products or services that you promote on your blog.

If you want to make serious money from blogging, you need to treat it like a business. That means creating high-quality content that will attract an audience and keeping up with your blog on a regular basis. It takes time and effort to build a successful blog, but it can be a great source of passive income.

2. YouTube Monetization

It is free to start a YouTube channel. There are a number of ways to monetize your YouTube channel, but the most common is through advertising. You can sign up for AdSense, which will give you access to ad space on YouTube. You can then sell advertising space on your videos to brands and companies who want to reach your audience.

Another way to monetize your YouTube channel is through product placement. You can work with brands and companies to place their products in your videos in exchange for a fee. This is a great way to generate passive income from your YouTube channel if you have a large and engaged audience.

Finally, you can also monetize your YouTube channel through affiliate marketing. This involves promoting products or services in your videos and earning a commission on any sales that you generate. This is a great way to earn passive income from your YouTube channel if you have a large and engaged audience that is interested in the products or services that you promote.

3. Freelancing

There are many methods to create passive income, but freelancing is one of the most popular and effective ways to do so. Fiverr and Upwork are the best platforms for starters in my opinion. Passive income from freelancing can come in many forms, such as royalties from published works, consulting fees, or even earnings from advertising on your blog or website.

The great thing about freelancing is that it allows you to be in control of your own time and work schedule. You can choose to work as little or as much as you want, which makes it a perfect option for those who want to create passive income but don’t have a lot of free time.

Another benefit of freelancing is that you can often start earning money right away. Unlike some other passive income streams (such as investing in rental properties), you don’t need a lot of capital to get started with freelancing. All you need is a computer, internet connection, and skills – and you can start finding clients and earning money today!

4. Affiliate Marketing

Affiliate marketing is one of the most popular methods to create passive income. It involves promoting other people's products or services and earning a commission on each sale.

There are many ways to do affiliate marketing, but the most common is through a blog or website. You can either create your own blog and promote products through it, or you can join an affiliate program and promote products from there.

There are also many different types of products or services you can promote as an affiliate, so you can choose something that interests you and that you're familiar with.

The key to success with affiliate marketing is finding the right products or services to promote and then driving targeted traffic to your blog or website. If you can do this, then you'll be well on your way to generating substantial passive income.

5. Selling on Amazon

There are many different ways to make money on Amazon, but one of the most popular and effective methods is to sell products on the platform.

When you sell products on Amazon, you create a storefront that allows you to list your products and set your own prices. When someone purchases one of your products, Amazon will take a small percentage of the sale as a commission.

The great thing about selling products on Amazon is that it’s a very passive income stream. Once you create your storefront and list your products, you don’t have to do much else. Amazon will handle all of the shipping and customer services for you.

Of course, there is some work involved in setting up your storefront and creating listings for your products. But once that’s done, you can just sit back and watch the sales come in.

6. Infopreneurship

In today's digital age, there are a number of ways you can create passive income streams through infopreneurship. It is a business strategy centered on the sale of information. Since information is what people are seeking online most of the time, it is a valuable resource in infopreneurship. Many people who visit websites frequently look for information to try to find answers to their dire concerns. Unexpectedly, a lot of website visitors pay for the solutions. By providing valuable information and resources, you can earn revenue from a variety of sources, including:

1. Advertising: Selling advertising space on your blog or website is a great way to generate passive income. You can work with sponsors directly, or use a platform like Google AdSense to place ads automatically.

2. Affiliate marketing: If you promote products or services on your site, you can earn commission on sales made through your links. This is a great way to generate passive income if you have a large audience.

3. Sell digital products: Creating and selling ebooks, online courses, and other digital products is a great way to generate passive income. You can reach a global audience with your products and earn revenue around the clock.

4. Sell physical products: If you have created physical products, such as arts and crafts, you can sell them online through platforms like Etsy or Amazon Handmade. This is a great way to generate passive income if you have unique items to sell.

5. Offer consulting services: Many infopreneurs offer their services as consultants or coaches. This is a great way to generate passive income if you have expertise in a particular area.

6. Create a membership site: Offering exclusive content and resources for members only is a great way to generate passive income. You can charge monthly.

7. Business Consulting

Out of the many ways to create passive income, business consulting is one of the most effective methods. By becoming a business consultant, you can provide valuable advice and insights to businesses that can help them improve their operations and overall profile. In return, you can earn a percentage of the company's profits or a fixed fee for your services.

To be successful as a business consultant, you need to have a strong knowledge of business management and operations. You should also be able to offer creative solutions to problems and be comfortable working with different types of people. If you have these qualities, then you may want to consider becoming a business consultant and start enjoying the easy inflow of passive income cash.

8. Dropshipping

Dropshipping is one of the most popular methods to create passive income. It involves setting up an online store and partnering with a supplier who ships products directly to your customers. 

In other words, this is a business model in which e-commerce entrepreneurs sell products without having to carry any inventory. When a customer places an order on their website, the entrepreneur contacts the supplier, who then ships the products directly to the customer. Dropshipping is a popular business model for new e-commerce entrepreneurs because it's relatively simple to set up and manage.

Therefore, dropshipping is a great way to start generating passive income for it’s a low-risk and low-cost way to get started.

9. Amazon FBA

FBA which is short for 'fulfillment by Amazon' is a service provided by Amazon that enables businesses to outsource order fulfillment to Amazon. Businesses will send their products to Amazon fulfillment centers and when a customer makes a purchase, Amazon will pick, pack, and ship the order. Amazon can also provide customer service and process returns for those orders.

Amazon FBA is a great way to create a passive income because it requires very little work on your part. Once you have a product listed for sale, you don't need to do anything else except wait for the orders to come in. You can also use this time to find more products to sell or promote your business further. The only downside of Amazon FBA is that it can take a while for your first sale to come through, so you need to be patient. But once you start making sales, the passive income will start rolling in!

Amazon FBA is a program that allows you to sell products on Amazon without having to worry about shipping or customer service. All you need to do is find a product that you can source cheaply and list it for sale on Amazon. When someone buys your product, Amazon will handle the shipping and customer service for you. This means that you can focus on other things, like finding more products to sell or marketing your business.

10. Investing

This is one of the best ways to create passive income. You can invest in stocks, bonds, real estate, and other assets that will generate income for you without you having to do any work. You will need some good investment in the beginning, and the passive income will manifest soon afterward. Investing can be online or in offline world. Following are examples;

1. Creating an online course: You can create an online course and sell it for a profit. This is a great way to generate passive income if you have expertise in a particular subject matter. You can create these courses in multiple formats like text, audio, and video and publish them on multiple platforms thus diversifying your passive income streams.

2. Writing an eBook: You can write an eBook and sell it online. This is another great way to generate passive income if you have writing skills. This eBook can be written on any topic of your interest. No topic is useless, there is always someone in this world that will value your content and appreciate it tremendously. You can even develop this skill over time and finally materialize it with good cash.

3. Renting out property: If you own property, you can rent it out and earn rental income. This is a great way to generate passive income if you have the capital to invest in property. Properties tend to rise in price over time and it is always wise if you have extra money, rather than keeping that extra money to yourself and doing nothing with it, invest it into buying properties. In the future, when the price hikes, you can sell them for a higher price. In another scenario, you can give on rent the bought property and enjoy a steady passive income flow.

Conclusion:

The majority of the aforementioned passive income methods are easy, most profitable, and unique ideas that can be implemented online from the comfort of one's home in the evening time, this especially applies to college students. 

College students can indulge in these side hustles in their free time and can benefit in many dimensions. For example, they can cope with student loans or fulfill any outstanding debt or for that matter, improve their overall lifestyle by achieving some degree of financial independence. 

These side hustles can pay you very well in the future if taken seriously and sufficient attention and effort are poured into them.