Making money out of nothing
Fola Balogun
How can I make passive income with no money?
That's the question we're answering today.
You're there from 9 til 5, stuck behind a desk. You don't want to be there, but you have to — there are bills to pay.
Trying to make a living, but not really living at all.
Every day you research about passive income, and how you can make money online without investing your money.
Does this sound about right?
I've been there.
The good news is that there are ways to create passive income with NO initial funds whatsoever.
The bad news is that it will take your time, and you need an inch of patience.
But I do want you to know that it is feasible to achieve it.
I know it's possible because I did it myself. Over the past 12 years I have created multiple different streams of passive income — earning me money even while I sleep.
This post will guide you through 5 simple strategies on how to create passive income with no money.
There are a number of different passive income strategies you can do right now, and some doesn't require any initial funds.
Below are 5 proven strategies to create passive income with no money.
All these ideas will take some effort — nothing comes easy. But if you put in the work, you can get the snowball rolling.
Strategy #1: start a blog
Starting a blog is by far the best thing you can do to build passive income without any capital. Not only can you earn money from the blog itself, but it’s the perfect vessel to promote the other strategies.
Before you can monetize your blog in any way, you’ll need to build up an audience. This means making great blog posts that draw in organic traffic from Google and other search engines.
There are really 2 important keys to succeed here:
Do good keyword research
Make your posts informative, educational and entertaining
Once you get some consistent readership, you can start looking to monetize.
Blog ad revenue
A good blog with awesome content can draw in large amounts of search engine traffic. If one were to place ads on their blog, they would earn passive income.
This is one of the ways so many blogs earn hundreds of dollars a day.
Google Adsense is the most popular ad provider people use to monetize their blogs. But you also have textual ads that blend in better.
They are placed on the top and sidebar of your blog posts.
The amount of money you can generate from Google Adsense varies, depending on various factors. Website traffic is obviously a crucial component.
If you run a health blog based in Europe with 50K monthly hits, you are projected to earn $4770 annually.
Affiliate marketing
Affiliate marketing is great way to get a passive income online with no initial funds.
If you have convertible traffic on your blog (from high value keywords), you have a chance of creating good passive income through affiliate marketing.
I personally love affiliate marketing, and have been using it as a monetization model for the last 12 years.
Strategy #2: open a YouTube channel
A YouTube channel is like the video equivalent of a blog, and it's a passive income strategy that works great for many people.
Especially if you're enjoying being in front of the camera or into video editing.
It can earn ad revenue itself, as well as promote your other bootstrapped passive income strategies.
Just like a blog, the first step is building an audience, attracting them with awesome video content. Many people have done it with no money, and you can too.
YouTube ad revenue
Because YouTube is owned by Google, it makes it the perfect video platform for Google Adsense. There are a variety of different types of ads, with various lengths. They can show up at different times, usually at the beginning, or in the middle of a long video.
To be eligible to have ads on your videos, you need to apply for The YouTube Partner Program. You’ll need at least 1000 subscribers, among other criteria to be accepted.
Many YouTubers earn thousands in ad revenue each month. Entrepreneur Roberto Blake made $2,400.36 in January 2020 from the ads on his videos. That’s completely passive income, earning for him 24/7.
Strategy #3: write an Ebook
Writing an eBook is a great way to earn passive income without a nest egg. It will take sometime to write and put together, but it will generate passive income for you, indefinitely.
To create an eBook, use Kindle Create — it’s a free eBook creation tool.
You can then publish your eBook on Amazon for Kindle, through Kindle Direct Publishing.
If you have an active blog and YouTube channel, you can promote it. People will continue to buy your eBook, long after you wrote it. The passive income will be ongoing for potentially years, depending on how evergreen the topic is.
Many people have succeeded at this, and you can too if you're a decent writer, and willing to dedicate a bit of time for a few months.
Strategy #4: create a course
This is another awesome passive income strategy. You can create an educational course, and then sell it online.
Just like an eBook, a course will continue to make you passive income, long after you created it.
You can create, publish and sell your course on Udemy. There is an interface on the website which allows you to put together your course.
Your blog and YouTube channel can help promote your course to your audience.
This is definitely a good method to build some passive income, even if you have no money. A man named Greg Jeffries made $30,000 in one year from courses alone. All of that was 100% passive income.
Personally I recommend to create a free course first, to give some free value to your audience and show them that you're able to provide quality.
Strategy #5: sell stock photos
This might be one of the easiest ways to generate a passive income without any initial funds if you're enjoying being behind the camera.
You can take professional stock photos and sell them to various image companies. All you really need is a camera.
Even better if you already built up your own image database.
It's not very easy to make a considerable income from this, but..
If you are a good photographer you can actually make a decent passive income online, as you build up a bigger image database.
Doing a bit of research to figure out what pictures to take can help you make more money. Find what pictures there are demand for, and the less competition, the more people will use your specific pictures.
Here are some websites you can sell stock images to:
Getty Images
PikWizard
Shutterstock
Alamy
123RF
Each website has their own terms and conditions when it comes to stock photos. Commissions may vary.
The conclusion
That's the best passive income ideas that I can recommend you if you want to build a passive income with no money.
Maybe you'll try some of these ideas, maybe not. But I want you to know: generating passive income with no money is absolutely possible. You just have to be creative and resilient enough.
The key is to create a strong blog, and YouTube channel and overall, build your audience online.
Once you’ve got an audience, you can begin to create different products and services.
The potential for passive income can be great, but it's not going to come easy.
You have to work hard and put in the hours.
If you are dedicated, you can absolutely make it happen. I know, because I did it myself.
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Posted Nov 25, 2024
Making money in today's world
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