Bored with your 9 to 5 job? Want to live a Boss-free life? Here in this article, you will find some unique and innovative passive income ideas that can transform your dull life into the most dynamic one and you will live the life which you always wanted to live.
In a country like India, where getting a job after graduation, is the most difficult task in anyone’s life. The majority of us, after passing out from any mediocre Engineering or Management college, landed in a Job that we never had dreamed of in our Childhood.
But, if you want to live a Boss Free Life without fear of losing your job every day, then these Passive Income ideas may help you to live the life that you always cherish for.
It’s very easy to say that these alternative income sources can change our lives, but it is equally very hard to establish any Passive income source and generate our livelihood from it.
The majority of us failed to continue the path that can generate secondary income because we hardly follow our Passion. To become successful in any niche or job, we need a massive amount of Dedication, effort, and passion.
Most of the Passive income ideas may not generate returns overnight. But if you can stick to the ideas, then definitely you will get the desired results.
What are Passive Income ideas?
As the name suggests, Passive income may be the income or the earnings that someone can generate from an alternate source with minimum effort. Passive income is our secondary source of income, you may also call it add-on income which we earn from any source except our Primary means of income.
Passive income ideas can be a very simple idea, it can be multiple ideas, but the most important thing is the execution of these ideas.
A successful person is one who can create returns by executing these common ideas differently, sometimes we also call it the Startup ideas.
You will find hundreds of examples where a Passive income becomes the Primary Source of income. Maybe you don’t know one day, your Passive income ideas help to generate a recurring income automatically and you will quit your existing job to live a boss-free life.
Benefits of Passive Income
We always want to live a life on our own terms, we want to spend more time with our family and friends, traveling the places that we always wanted to go and the things we always loved to do. Smart Passive income ideas give us the flexibility to live a different life.
The benefits of generating a Passive income are
- It gives us complete freedom and lives a life without fear of losing jobs every Day.
- It gives us the flexibility of doing work differently.
- It helps us to generate a recurring income automatically.
- No time-bound, always free to do our Work whenever we love
- Give us more time to spend with our Family, Friends, or with our loved ones.
- Lastly, it may lead us to live a Boss Free Life.
List of Some innovative Passive income ideas in India
Today, if you start thinking about How to Generate Passive income, you might find hundreds of ideas. Some of these ideas need investment, some of these ideas need innovations, and some of these need dedication.
There are a plethora of opportunities waiting for you. Just you have to grab the right idea without wasting any further time.
Let’s see what are these ideas
Online Passive Income Ideas
- Start a Blog Today: If you like to write then, you can start a blog today. Blogging is a great platform to generate some residue income and also follow your passion. There are lots of free or paid blogging platforms available. You can integrate Google Adsense or Media.net with your Blog to start generating revenue from your Blog. You can also sell e-books from your Blog to earn some extra bucks. Also, you can rent ad space to the advertisers, if you become an authoritative figure in any particular niche.
- Affiliate Marketing: Affiliate Marketing is promoting someone’s products or generating leads through your affiliate links to help sell another one’s products. Today affiliate marketing is one of the biggest sources of generating passive income. If you have a blog or any niche website, you can earn some extra income, only by devoting a few hours of your day. This article might help you to find out some good affiliate marketing programs in India- Best Affiliate Programs in India.
- Freelancing: You can start some freelance work in your extra time. Freelancing great source of Passive income and growing very rapidly. It is estimated that freelance business will be going to touch $30 Billion in India & $50 Billion in the US in the next 5 years. If you have any special skills like writing, Proofreading, or Web Designing, then you can easily utilize them to make some extra earnings from the online job. Some of the best websites for searching Freelance works are PayPerHour, Fiverr, and Upwork. This article might help you to select some good freelancing job sites in India- Best Freelancing Sites in India for remote Jobs.
- Sell items on Amazon: You can sell items on e-commerce websites like Amazon, Flipkart, or eBay. On Amazon, you can even sell your digital ebooks.
- Sell Codes or Plugins: If you have skills in coding or web designing, you can sell your Codes, PHP Scripts, APK scripts, or WordPress Plugins on sites like ThemeForest, Codecanyon, or Creativemarket.
- Make an Affiliate Website: Affiliate marketing is nowadays becoming the most popular source of earning an online income from home. You can create an Affiliate website and start selling products on Amazon, and Flipkart by providing their affiliate links in your blog. If someone purchases any products following your affiliate links, then you can earn some percentage of commission from Amazon or Flipkart. Today, you will find affiliate programs in every niche, from Blogging to FMCG products.
- Create Online Courses: Do you have special skills like photography or web designing? You can create an online video course on sites like Udemy. or Thinkific.
- Online Tutor Class: If you have knowledge or a degree in any particular subject, then you can start online tutoring. You can sign up and create a profile on sites like UrbanPro, vedantu.com, or Bharatutors.com and list the subject that you want to teach to the students.
- Online Consultancy Service: Online Consultancy Service is another excellent side income idea, you can think of starting today. Online Consultancy can be independent or you can submit your resume to many job websites like SimplyHired, UpWork, or LinkedIn for remote consultancy services. Many companies today are hiring a remote consultant for their company and if you have knowledge in any subject matter, then a Consultancy job might be an excellent choice.
- Upload videos on YouTube: Creating and uploading videos on YouTube is one of the most popular residual income sources for many Vloggers in India. Create a YouTube channel and make your Vlog today.
- Android or iOS App Developing: You can create an Android or iOS app and earn advertising income by the APKs in Google Play or iOS App Store. If you have knowledge of Java or Kotlin etc., then you can create some great APKs using the Android studio and earn some Passive income from AdMob.
- Dropshipping: Dropshipping is also a popular online business model where you do not have to create stocks of products. You just work as a middleman between the customers and the vendors. You have to partner with any suppliers and start accepting customers’ orders, requesting your suppliers to send the products directly to the customer’s address. By this process, you can earn some commissions from your suppliers. You can easily create your Dropshipping business from sites like Shopify or Alidropship and make some extra passive income. You can create your own online shopping cart using Shopify or Alidropship WordPress Plugin. E-commerce sites like Amazon or eBay also allow you to start your own Dropshipping business. Here is an excellent book on Dropshipping you may read.
- Virtual Assistant: Today, in this digitalized world, everything can be done remotely, therefore the job of Virtual Assistant is getting huge importance nowadays. Many entrepreneurs and business firms are hiring Virtual Assistants to perform some tasks that can be done remotely. Some of the jobs you can find as a virtual assistant are Social Media Management, Email Marketing, Preparing reports or charts, digital marketing tasks, etc. You can search for assistant jobs on popular online Job websites in India.
- Domain Purchase & Sell: You can also earn by purchasing any high keywords-based Domain and selling it later for 3 to 4 times more price in an auction. There are several Domain register sites like GoDaddy or Namecheap where you can participate in Domain purchase & selling business.
- Web Hosting Company: You can start your own Domain selling and web hosting company from websites like ResellerClub or SiteGround. These sites allow you to start your own Web hosting company. You do not have to do anything, you will get all the support from the reseller company.
- Social Media Marketing: You can use social media platforms like Facebook, Quora, Pinterest, or any Forum websites to promote or advertise products and Earn Money online. It is also a type of Affiliate marketing, you review products in Facebook Groups, Quora, and Reddit, or promote affiliate links in social networking sites and earn commissions from the sale.
Investment-Based Passive Income Ideas
- Investment in Mutual Funds: You can invest in some good large-cap equity-based mutual funds for the long term. Today you can invest in SIP (Systematic Investment Plan) for as little as Rs.100 per month and may earn crores after 15 to 20 years. So, a wise investment in MF or ETF (Exchange Traded Funds) like Commodity or bonds generate hefty incomes at later stages of your life. Register in myCams or Karvy portal and start investing in SIP today.
- Invest in Equity Stocks: Investment in some Nifty-Fifty stocks can increase your wealth by 10 to 15% within 1 to 2 years. Wise purchases of high-quality dividend-paying stocks can increase your return by many folds.
- Investment in Real Estate: Investment in property or lands is one of the most common investment ideas in India. If you have some money, then you can purchase any property or land today and sell it after a few years. Investment in property is one of the high-paying and risk-free income today.
- Investment in Cryptocurrency.: You can invest in Bitcoins or Cryptocurrency to get higher returns. But I personally won’t recommend you due to its volatile nature. (RBI Ban Banks from providing any support for CryptoCurrency exchange in India)
Passive Income Ideas from Home
- Entrepreneurship: You can start your own small business at home by yourself or by partnering with your friend. You can also avail loans from any local Bank for starting your business. Now Banks is giving several low-interest loans for Micro and Small Scale Industries for setting up the business. You can apply for loans under the Mudra or Start-up India Scheme in any Bank.
- Rent Out Extra Space: If you have extra space at your home, you can let it out to some Travel Companies. You will find several Travelling Apps like OYO Rooms, MakeMyTrip, and Airbnb (Airbnb recently started investing heavily in Adventures and experience tourism in India to its home-sharing site). You can rent your apartment to these Travel Websites and earn some extra money. The Homestay business is getting hugely popular today, people nowadays prefer to stay at these homestays rather than any costly Hotels.
- Rent Your Car: Do you have a Car? You can make some extra income by renting out your car to Office, Company, or any travel agencies like MakeMyTrip or Cleartrip on a monthly basis and earn some second income. You can also rent your car to popular car-riding services like Ola Cab, Uber, or ZoomCar if you are staying in any big cities like Mumbai, Bengaluru, or Kolkata.
- Consultancy Business: You can be a Tax Consultant, investment consultant, or Property consultant, only you need some knowledge on the particular topic or the subject matter.
- Preparing projects for Bank Loan: If you have a little bit of knowledge of Accountancy, you can start preparing projects for customers who require Bank Loans. This is one of the best Passive income ideas you can start at your home.
- Part-time Delivery of Goods: You can partner with Amazon Flex and deliver Amazon’s Prime & non-Prime Packages in your free time. Download & sign up for the Amazon Flex India App and earn up to Rs.120-140 per hour every Wednesday through online transfer and become your own boss.
Passive Income Ideas from Hobby
- Selling Photos Online: If you have a passion for photography, then you can earn some residual income by selling your photos on Stock Photography websites. There are many Stock Photography websites available where you register for free and submit your best photos. If someone purchases your photos, you will get a commission from them. Some of these popular Stock photography websites are Shutterstock, Fotolia, Dreamstime, iStockPhoto, Alamy, Gettyimages, etc.
- Designing for the T-Shirt: If you have an interest in design, then you can earn some extra money online on websites like CafePress or 99Designs. These sites allow you to upload your own logo, Vector Designs and you earn money online when someone purchases your Design. You can also sell your design on sites like Envato, and Fiverr. In India, if you want to create your own designed t-shirt and sell it online, then there are some good online stores like mydreamstore, teechip, beyoung, etc. These sites also allow you to create and sell the t-shirts at the price you determined.
- Sell Handmade items: Are you a good Painter or can make handmade craft items at home. You can sell homemade items at the local trade fair or even online on sites like Etsy, Amazon, or eBay.
- Freelance writing: Do you have a hobby of Freelance Writing? You don’t have to create a blog. You can join the Medium Partner Program or iwriter and earn some passive income from your story.
- Music Teacher: If you are a well-trained singer, then you can teach others too and earn money. Music tutors have a huge demand in every place. If you can play guitar, piano, or any other instrument, then your hobbies not only allow you to continue your interest but also help you with some passive income by teaching others.
- Cooking: Like cooking? can you bake delicious food? You should not have to create any restaurant, Just set up a website or blog, advertise your products (foods), install a Payment gateway, start getting orders, and generate recurring income automatically.
Let’s Give it a Try!
Time is money, so don’t wait for tomorrow to start your next big venture. Give it a Try Today. All the Passive Income Ideas as discussed above are only suggestive, you can have your own income idea that suits you. Maybe your next Passive income stream gives you the opportunity to quit your job.
If you have any more extra income ideas, then Please share your comments below.
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