How to make passive income in 2020 ?
If you have an expertise in a field or a hobby that you love, there is no bigger opportunity than today for you to turn that passion or hobby into a passive income from home as long as you’re willing to put in some work and learn a few skills.
Whats Passive Income ?
A passive income is something you do most of your work at the start and then continue to make a passive income from your efforts. For example, a membership website where you’ve created the content of the site and you continue to get recurring income from members of your course or coaching etc…
How to make passive income in 2020 ?
Here are some passive income ideas 2020 you might have already heard about:
- Print On Demand – Print on demand are online store fronts that sells tee-shirts, hoodies, mugs, leggings, phone cases and much more. The best part about this Print On Demand business is that there is little to no cost upfront to get started. You make a design and upload the design according to size requirements and when they sell a product with your design on it they take out the cost to make it and ship it and you keep the profits. Merch by Amazon, Teespring.com and Red Bubble are Print On Demand services you can join to get started.
- Dropshipping Store – This is where you find vendors or manufacturers who make the product and ship it to the customer for you and after all the expenses are paid you get the profits. This method requires some upfront capital but you can start off small and grow your way into a nice passive income. You can use services like Orbelo which specialize in dropshipping and can seamlessly help you find great products to sell. Shopify is one of the most popular platforms to use as your store front to sell your products and create a great passive income in 2020. If you would like to learn how to do dropshipping and get access to a list of over 8,000 reputable wholesalers then SalesHoo is a great course to join.
- Got Skills ? – If you have a set of skills or a passion that you love then you could create a course or training you can sell on websites like Udemy or Teachable. With this business model you create the content to your course or training and potentially earn a recurring income from your members and you control how much passive income you generate.
- Build a website/blog on a niche your passionate about and love using it as an educational tool in your field of expertise. You can use your website to sell digital or physical products as well and you control how much you make.
- Photography – If you love photography, why not sell them online ? This could generate some extra income for you. Sites like 500px, ShutterStock, Adobe Stock and iStock are great places to getting started selling your photos. Your income will depend on how big your portfolio, your experience and quality of photos.
- Love creating music or sound tracks ? – You could profit from this as well by using sites like Epidemic Sound works with artists to distribute your music across many platforms. They will pay you an upfront rate and then they split all streaming revenue 50/50 with you. Another place you can sell your tracks to is Sound Cloud. They let you generate a passive income from your uploads and pay you directly every month. When you upload your tracks they are readily available for visitors to purchase.
- Affiliate Marketing Physical Products – This another powerful and great way on how to make passive income in 2020 by selling digital and/or physical products. Selling physical products can be done through ShareASale, Commision Junction and Amazon Associates Program, for example with Amazon you can earn from 4 to 10% of the purchase price. When starting out you will start off with the lower tier of around 4% and depending on how much you sell it will increase incrementally. The best way to make a passive income is by doing product reviews like ThinkMediaTV on Youtube does by making review videos about cameras. He also has some great videos about Youtube channel optimization and how to find your perfect audience for your channel.
- Affiliate Marketing Digital Products – This is one of my favorite ways to make passive income 2020 and beyond. The largest digital products network online is Clickbank, they have thousands of products in about every niche you can think of which is good for anyone finding something you can market and feel confident the product will deliver value to your audience. You also have a choice of other networks like WarriorPlus, JVZoo, Commission Junction, ShareASale, and LinkShare – Rakuten Advertising Publisher Partners ( All are Free to Join ). The best and highly recommended way of doing affiliate marketing is either by using your website or blog to do product reviews and recommendations or use a landing page giving something of value for exchange for their email then directing them to your offer. This way you don’t get your account shut down and can maximize the leveraging of emails to continue to stay in touch with your subscribers and buyers to build a long term business while creating a passive income. If you have never done affiliate marketing before and want to learn how to, you can checkout this free video of Clickbank University 2.0 which is a course designed to take you from beginner to doing affiliate marketing correctly maximizing your efforts and profits, they will also help you create your very own product. Highly recommended for beginners or even those who have tried affiliate marketing before.
- Youtube Videos – If you don’t mind being in front of the camera and have a ton of great value to share with your audience then Youtube is a great way on how to make passive income in 2020. With Youtube you can earn a passive income two different ways, you can make videos on product reviews as we discussed earlier also placing your affiliate links in the description of the video. The other way is with Youtube Partner Program which you can join when building your channel. In order to make money from Youtube ads on your videos you need to have 1000 subscribers and 4000 hours of watch time. If you create great value and content people are looking for you can easily reach those targets. If you are on Youtube or plan on building a new channel I highly recommend VidIQ ( Free to SignUp ) to optimize your channel and videos for success. Here is a view of some of the data you get when making a Youtube Channel or Creating a video with VidIQ.
“Never put all your eggs in one basket – diversification is how successful entrepreneurs create a passive income in business”
Here are more ways on how to make a passive income in 2020
Renting Your Stuff:
- Renting your room or guest house – If you have an extra room or guest house, you could rent it out to make some passive income.
- Rent your car – Turo, HyreCar, and Getaround are some companies that will help you rent your car. Keep in mind of fees associate with this service, you want to checkout their website and maybe even give them a call to clarify any questions or concerns.
- Rent your parking space – Pavemint, Spot Hero, and Curflip can find your clients. If your parking space has an EV charger or extra security (either cameras or attendants), this could increase your earnings.
- Have Extra Storage Space – If you have an extra shed or extra room you’re not using, this could bring extra passive income. These would usually be self-served and paid monthly, if rent is not paid the stuff can be sold off.
There are many ways on how to make a passive income in 2020 and beyond. We have only scratched the surface of how many ways there are to earn a passive income. These are some of the best passive income ideas 2020 according to Google Trends. If you enjoyed this article please share and like, Thank You!
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