Passive income – the elusive dream that promises financial freedom and the luxury of time. In a world where we’re always on the lookout for ways to make more money, passive income seems like the ultimate solution. But is it just a myth, or is it something that can actually be achieved?
The first product that comes to mind for me when someone says passive income is digital printables. Generally, once you have made a noneditable digital printable you can sell that item over and over. You don’t have to print it and mail it anywhere as it’s delivered straight to the customer thanks to the wonders of the modern age. You also don’t have to replenish any stock anywhere. So this is a tick as it is a passive income.
Next up is clipart. Be it AI-generated or hand-drawn. Once it is in its digital form it too can be sold over and over and delivered straight to the customer so again it’s a passive income.
Next up is creating online courses, writing e-books, and even creating instructional videos are all ways to share your knowledge on any subject with others and earn money from it. Once your course or book is created, you can continue to earn passive income as people purchase it.
If you have a crafting blog or social media presence, you can create passive income by promoting affiliate products. This means that you feature products on your platform and receive a commission for each sale that is made through your unique affiliate link. You can promote products related to your niche.
So is there such a thing as passive income? The answer is a resounding yes!
But there is a BUT.
No matter which passive income route you take there will always be some customers who will need help. They might not understand how to download the item. They might not understand the format you provided it in. So will need to offer good customer service to help them. You will have to talk to the customer.
There is also getting your customer to your shop, store, or blog and also growing your shop, store, or blog. Filling your shop with 50 items and then never adding anything new won’t grow your shop. Happy customers will return to see what new items you have, if you’re not adding new they loose interest and find another shop that is keeping up with the new items. Blog readers will return but if there is no new information they too will lose interest.
So yes passive income is real, it does pay and is ideal for so many niches and circumstances, BUT you need to nurture your shop/blog and promote it on places like social media to get your next customer.