As the economy is withering and there is always a rise in inflation, everyone is seeking to start a side business or make a little extra money to maintain or improve their quality of life. Passive income is one of the best ways to increase your cash flow as it is often referred to as "making money while you sleep".

In good times, passive income helps you earn more and offers great support in difficult times such as the sudden loss of a primary job. It also helps keep money coming in if you decide to take some time off from your job. This means that passive income can provide you security in all circumstances.

As the world is becoming more inclined towards using the internet for everything, passive earning also entails online selling, and the web always has more traffic and greater chances of sales.

Check out these 8 ideas if you're considering developing a passive income stream, and discover what it takes to be successful with each one:

1. CREATE A COURSE

Making an audio or video course, then sitting back and watching the money stream in from the sale of your product, is a common method for generating passive income. It is one of the best methods of passive online selling. Sites like Udemy, SkillShare, and Coursera allow for the distribution and sale of courses.

A "freemium model" is an alternative that entails gaining a following through free content and then charging for in-depth knowledge or for people who want to know more. This paradigm may be used, for instance, by language instructors and stock-picking counsel. The free content serves as an example of your skills and could draw individuals seeking growth. This model is also functional with YouTube channels. You can provide free content on your YouTube channel and then promote your courses by making paid offers for people who are further interested.

Opportunity: A course can generate a fantastic income stream because earning money is simple after the initial time investment.

2. WRITE AN E-BOOK

Writing an e-book can be a good way to benefit from the low cost of publishing and even use Amazon's global distribution to bring your book in front of possibly millions of potential customers. Since they rely on your skills, e-books can be created for relatively little money and they don't need to be very lengthy.

On an online platform like Draft2Digital, Amazon KDP or Lulu, you can quickly design the book and test-market several different price points.

Opportunity: An e-book can serve as a means for directing readers to your other products, such as audio or video courses, other e-books, a website, or perhaps more valuable seminars, in addition to providing them with useful information and value.

3. AFFILIATE MARKETING

Through a link on their website or social media account, bloggers, social media "influencers," or proprietors of websites can promote a third party's product. This is known as affiliate marketing. The most well-known affiliate partner maybe Amazon, but other well-known brands include eBay, Awin, and ShareASale. And for companies trying to build a following and advertise their wares, Instagram and TikTok have grown into enormous platforms.

To draw attention to your blog or otherwise point people toward goods and services they might need, you might also think about building an email list.

Opportunity: The website owner gains a commission when a visitor clicks on the link and buys something from the third-party affiliate. Since the commission could be between 3 and 7 percent, it will probably require a lot of visitors to your site to make any meaningful money. However, if you can expand your audience or find a lucrative specialty (like software, financial services, or fitness), you might be able to earn a sizable sum of money.

4. SELL PHOTOGRAPHY OR DESIGNS ONLINE

Although selling photography online might not seem like the most apparent way to start a passive income stream, you could be able to grow your efforts if you can sell the same images repeatedly. You may collaborate with a company like Getty Images, Shutterstock, or Alamy to do that.

You must first receive platform approval before you can start licensing your images for usage by anyone who downloads them. When someone uses your photo on the platform, you get paid.

If you are skilled in design, you might be able to generate money by selling products with your printed designs. You may sell goods with your designs on sites like CafePress and Zazzle, including T-shirts, hats, mugs, and more.

Opportunity: If you can produce images that will be in demand, selling or licensing your photos through a platform gives you a chance to scale your efforts. For designs, you can begin with your personal ideas, gauge market interest, and grow from there. You might be able to take advantage of growing interest in a current issue and create a shirt that, at the very least, offers a sarcastic take on it. Additionally, you can create your online storefront to sell your goods through a website like Shopify.

5. CREATE AN APP

Making the first-time investment to create an app may allow you to later reap the benefits. Your app might be a game or a tool that makes it easier for mobile users to carry out a challenging task. Once your software is available to the public, consumers can download it, and you can make money.

Opportunity: If you can create an app that appeals to your audience, it has great potential. You must think about the best way to make your app profitable. For instance, you might display in-app advertisements or charge a small fee to customers to download the app.

6. SOCIAL MEDIA MARKETING AND BLOG

Do you have a sizable online following on platforms like Instagram, Facebook or TikTok? You can utilize this consumer reach to earn money. One way is to obtain payment from developing consumer brands to post about their goods or promote them in your feed. Another way is by reviewing affiliate products on your blog. Companies offer payments to social media personalities with the same consumer base to review and promote their products. You can also use your social media reach to promote your own courses, e-books, blogs or small business.

But you'll need to continually add engaging content to your profile/blog to keep your audience interested. And to do that, you must keep coming up with posts that expand your audience and engage your social media followers.

Opportunity: Using your social media presence is a promising marketing strategy. With compelling material, you may attract attention and clicks to your profile.

7. STOCK OR SHARES DIVIDEND

Investing in stocks or shares dividend is a way of providing value to a certain company by buying their stocks and providing them money. It is one of the easiest ways of earning passive income. If you have any sort of savings and their sitting in your savings account with very low interest then it is better to invest them in stocks or shares from which you can gain a sizeable return.

Companies pay cash dividends per share of their stocks, so the greater the amount of shares you own, the higher will be your earning.

Opportunity: As this investment does not require any active work except for the initial financial investment it is the most passive form of income you can earn. The money will simply be deposited to your financial account and you won't have to do anything.

8. SELLING PRODUCTS ONLINE/E-COMMERCE

One of the best ways of earning passive income in 2022 is by selling your products online on e-commerce platforms like Amazon, eBay, Etsy and Shopify. You can sell any item which fits to your interest either you obtain it in wholesale amount or it is handmade. Every item has a potential of being sold on an online platform.

This method does require some initial investment of time, money and effort but once your online business is up and running it keep the influx of passive income going at all times.

Opportunity: E-commerce has a great potential of growth and gradually you can keep adding products to your online store leading to more income.

CONCLUSION

Which passive income source is ideal relies on a variety of factors, but the most crucial ones are your financial situation, the size of the overall opportunity, your aptitude and interest in the area, the time commitment required, and your chances of success. Typically, the lower the barriers to entry, the more crowded the field of competitors and the lower likelihood of success.

As described earlier, the best and most reliable source of passive income is by selling products online on e-commerce platforms. If you want to learn more about how eBay, Etsy and Amazon work then check out our book series which provides all the necessary information you need to start online sales. If you need further information regarding selling through your own website or via a marketplace then check out or blog specifically written on this topic.