You’ve got a job, but you want more.
More cash. More time. More freedom.
You’re fed up and don’t see the job you have as long-term - but you’re not sure what else to do.
Earning some extra income outside of your job will give you more opportunities – it could even lead to something a little more permanent – like running your own business.
Gaining an extra side income outside of your job (passive income) is the perfect solution for the extra freedom, time and money you’re looking for.
Here are fifteen ideas to get you inspired and started.
#1: Intellectual property (books/ideas)
To write a successful book, you don’t need to reinvent the wheel or come up with a unique idea. Some best-selling books are based on other people’s stories – stories that inspire and are worth writing about. You don’t need a personal story – you just need enough passion and enthusiasm to want to write about something that interests you (and will interest others). Saleability is, of course, a priority. There is little point writing a book if nobody is interested in reading it. To make your book saleable, it needs to get people’s attention and have a USP (unique selling point) – to distinguish it from all the others available.
If you write about a specific subject, a lot of the book could be made up of interviews with experts in that field. When you contact them, you might find that most experts will be more than happy to help a budding writer. The desire to help others is within all of us, so take advantage of it. They might ask to be paid – or you might be lucky and ask somebody who is happy just getting the exposure. You’ll never know until you ask! If they do want something in return, give them an incentive. If you don’t have any money, negotiate a deal with them where you’ll give them a cut of sales. If you’re going to succeed, you have to get creative. Combine your creativity with the will to succeed, and things will happen for you.
Unless you’re a best-selling author (I’m talking like Stephen King or J.K. Rowling), selling books alone won’t be enough to sustain a comfortable lifestyle – you need to know that before you grab your laptop and start tapping away. Have you ever met an author driving around in a Ferrari? No, me neither. The mental picture you have of a writer being a scruffy-looking recluse in their dressing gown is generally accurate – apart from me, of course!
Because writing a book is such a competitive space, it’s treated as such. It’s very much viewed as a privilege to get a publishing deal, which is why royalties are low. Books are a good way to get noticed and reach a wide audience (meaning they can form a strong part of your overall strategy), but they won’t support your less-stress lifestyle alone. Once you have your audience, you can add value to the time invested in writing by doing things like workshops and coaching. However, writing a book alone doesn’t guarantee attention. Unless you’re an established big name it’s very difficult for authors to get noticed, even if a world-leading publisher signs you up.
Based on the odds, writing books is a high-risk strategy. In 2013 China published 440,000 books, the USA 305,000, and the UK 184,000. That’s a lot! It seems as though it’s most people’s ambition to write a book, making it a very competitive market. And getting published is just the start. A common misconception about publishers is that they sell your books for you – they don’t! Yes, the bigger ones have sales, marketing and PR teams, but ultimately it’s up to you to sell your books.
I write because I enjoy it, and I get huge satisfaction from helping people through my writing. I’m also not afraid to take a gamble if I believe in something. I’d recommend you write (if you’re going to) for the same reasons: enjoyment and wanting to help – not for money.
I appreciate I’ve been quite negative here, but I’m being realistic about the odds. You can, of course, make your fortune by coming up with the next Harry Potter series, but the fact remains that there are lots of authors out there. Plus, writing is hard! (Well, it is for me!) Writing a decent book is very time-consuming and isn’t an easy job (which is probably why there are so many rubbish ones available). The number of times I go through each paragraph to make sure it’s right (I’m a perfectionist) is excruciating at times. But I remind myself of how many people I can help, and I carry on. It’s my passion for writing that makes all the difference for me, and it will make the difference for you, too.
If you do have a passion for writing and want to try to beat the odds, there are generally two options when deciding to write a book: (1) self-publish, and (2) write with the aim of finding an agent and getting published. More and more authors are going down the self-publishing route because it’s never been easier. Remember, a book is just a product like any other – if you believe you can sell it, you’re in business. You can be your own publisher as long as you have what it takes to sell your book.
Because the self-publishing route takes a lot of effort and time, my advice is to focus on getting published first, and if it doesn’t happen within a timescale suited to you, go down the self-publishing route. Don’t be disheartened if it doesn’t happen overnight. It’s incredibly competitive, and most books don’t get a deal with a publisher. Even some of the best authors of all time were rejected time and time again!
Like anything else, if you have a passion for writing and an absolute belief that you can make it happen, it will.
Similar to books, you don’t necessarily need to reinvent the wheel when it comes to products. You can either invent a product to license out, or license an existing product to sell (both options qualify as passive income).
If you have a great idea, you can license it out to somebody (a company) that already has the audience for that product. For example, if you invent a new genius way of your car finding a parking spot for you (if you do, please get in touch and let me know!), you would do better approaching the major car manufacturers directly and licensing it to them, rather than trying to invent an entire new car to fit around that product. They would pay you a licence fee, potentially for every sale, and all you would need to do is sit back and wait for your cheque in the post. This is as good as passive income gets. This strategy is also perfect for your focus – your only target audience is buyers at the car manufacturer, rather than the entire car driving market. The more focused your pitch is, the more likely you are to succeed. If every customer is your customer, you have no customers.
On the other side of licensing, you can be the licensee. You can take somebody else’s idea/product and sell it yourself. There’s not as much money in this, though, and if you’re competing with other resellers, it can get very competitive. In this instance, things tend to come down to price, so it can take the challenge and enjoyment out of it. If it only comes down to price, you can guarantee there will always be somebody willing to sell at a lower margin than you. You can safeguard against this by negotiating an exclusive deal, but you’ll need to demonstrate to the product owner that you are the best person to sell the product. If they’re willing to give the product to you, and you demonstrate little in the way of selling ability, the product is probably poor, so you wouldn’t want to waste your time and energy on it. If something is worth having, it usually means fighting for it.
Finding a product to license is easier than you might think – as easy as contacting the product owner and asking them if you can sell their product. Maybe you’ve used a product and like it. Maybe you used it in another country, and think it could do well in your homeland.
www.licensingexpo.com is a worldwide exhibition with product owners demonstrating to potential licensees. With a bit of research, you’ll find other exhibitions local to you. There are some big opportunities out there if you’re willing to take the time to look.
You have to make it pretty big to earn money from a blog alone. Blogs earn money from affiliate marketing (selling other companies’ products on your website, and referring customers to their website). If you want to sell high-end products on your site, you need to have a high enough visitor hit-rate to get them interested. To encourage more visitors to your blog you need to offer something that people need and want, including quality content.
The problem with writing a blog that has quality content (it has to be good quality, otherwise, people will dismiss it and never visit again) is that it’s very time-consuming. Again, because anybody can write a blog, there are thousands of blogs out there on the same subjects, making it a competitive space. However, a good blog can give you great exposure, sometimes very quickly. If a blog post or video goes viral it can reach millions of people within days – there are very few things that offer that level of exposure.
To make it big in the area you choose, you have to show people you know what you’re talking about. They will have to feel comfortable with you and the advice you’re offering.
Nowadays, bloggers, vloggers, YouTubers and Instagrammers are also celebrities. If a company, say a fashion company, is looking to launch a new brand, they will turn to these guys to help them. Top bloggers have a strong and loyal following, and their audience tends to listen to them. If they say a product is worth a purchase, it can make the company’s sales rocket overnight.
If you decide to start blogging, I recommend setting up an email subscription allowing visitors to sign up to your newsletter, which will help you draw, and keep, an audience. I use MailChimp to automate the email subscription process. I find it to be more professional than most of the other email delivery providers, with a better rate of success (that is, emails not going into spam folders).
If you’re looking for a blogging platform, I recommend WordPress. If you’re looking for more of an e-commerce website with a blog attached to it, I recommend Weebly. Both offer lots of modern designs and are easy to use – you don’t need to be a web designer to operate them. They have a drag and drop function, which makes using their platforms very easy.
Like anything else, a blog/website has to start somewhere. If you’re starting from scratch, it can be quite daunting looking at a blank canvas and the follower figure set at 0. For now, don’t worry about that, just keep writing. The blank space will quickly fill, and your follower count will rise! The top blogs in the world (which have millions of visitors per week) all started in the same way.
Start using Weebly free from my website www.carlvernon.com/resources.
#4: Post videos on YouTube
Online content via blogging is seriously overcrowded, which is why lots of people are turning their attention to ‘vlogging’ (video blogging). Plus, people are busy, so often they would much rather watch a few quick video posts than read a long blog post.
Like blogging, vlogging can give you a huge reach. We’ve all seen those cute cat videos which have hundreds of millions of views. If your video goes viral, you can achieve overnight success and celebrity status (if that’s what you want). What I like best about vlogging is that you can do it quickly. You can do a short video within minutes, compared to a blog post, which will take hours to write, read and reread for mistakes. Vlogging is not for the shy, but that’s what will give you an advantage – the fact that not everybody wants to do it. Anybody can write a blog, but not everybody wants to put their mug on camera! It’s worthwhile practising and getting good at it. When you’re used to the process, you’ll be able to do a vlog in minutes.
Coming back to the point of passive income, you can gain a small amount of advertising revenue through vlogging on YouTube, but it is tiny, and only really counts if you have millions of views. The best strategy for vlogging is to support another form of passive income by offering ‘expert’ advice on the subject. If you’re looking to sell your new invention (a toilet roll holder that sits on your head), you can vlog about toilet roll holders and why having it sit on your head offers your audience the convenience of never running out. It’s an indirect way of advertising: you’re offering an advert your audience is much more likely to watch, compared to an actual advert. I’d watch it!
#5: Online courses
One of the hardest forms of passive income is developing an online course. This takes a lot of work – and expertise – but can help you build a passive income. A platform like Udemy has approximately seven million students looking for courses, and it can put you in touch with a big audience instantly.
You have to put in a lot of work to develop your online course, because it has to be good. If it isn’t, there is no way people will pay for it. The internet is full of free stuff, so you need to demonstrate why your audience should pay for yours. To answer this question, ask yourself a couple of questions:
- Would I pay for it? Why?
- What can I offer that isn’t already available?
- How can I make it so the customer feels good about buying the course?
- How can I ensure that when they’ve completed it, they feel like it was value for money?
Do you have a skill others need/want? Can you learn a skill and reteach it? People will, of course, be more interested if you can demonstrate you have years of practical experience in your chosen field, but if you’re engaging and professional, there isn’t a skill you can’t pick up and reteach. Some of the popular skills required tend to be tech-focused, like online marketing, using social media, and coding. As technology continues to advance, there won’t be a shortage of people looking to learn these types of skills.
The hard work is front-loaded, because once it’s recorded, it’s done. You will, of course, need to put work into marketing and promoting it, but if you use a good enough platform (like Udemy) and describe the course well enough with specific and niche keywords (to separate yours from the others), your audience is ready and waiting.
Find a link to Udemy on my website: www.carlvernon.com/resources.
Renting is pretty simple, really. If you own something that somebody needs, but they either can’t afford to buy it or don’t want to buy it, you’re in business.
There is a bit of work to be done, depending on what you’re renting, so you have to evaluate time/effort. For example, if the product is large, you need to think about logistics – where will you store it? – and costs (how will you transport it?). If the product is rented out by the day, you will need to work out time and effort, including filling in the necessary paperwork and shipping, to evaluate if the work is worth it. If you get it right, renting can be a lucrative business, especially if you can automate the process as much as possible.
A friend of mine has a passion for photography, which has led to her buying some expensive kit. Every now and again she rents some of her equipment out for the day (including cameras). Within a year she has made back what she paid for the equipment, so the products have paid for themselves. She’s planning to sell the equipment to upgrade, so any money she makes from the sale is 100% profit. That’s a wise strategy in anybody’s book!
Do you own something you can rent out, such as equipment for an expensive or specialist hobby? If so, you could start small and keep trading up. Maybe you want to think bigger and have multiple rents? Whatever you decide to do, just keep evaluating your time and effort against the reward, and make sure it’s worth it. If it is, your rental empire might come sooner than you think.
Offering a product, compared to offering a service, can offer a passive income, but you have to get the process right because they do entail ongoing work. If you’re thinking of developing a product from scratch, first you need an idea, then you have to design it, then decide on how to make it, formulate a strategy to sell it, and then you’ve got to ship it. You can probably work out why I’ve never dealt with products! But that’s doesn’t mean you can’t make it work. The world is full of products, and there are big opportunities out there!
There are simpler ways to deal in products. You could buy products in bulk from, say, China, and sell them online through eBay and Amazon. However, this is only simpler in principle – it’s more complicated when you find yourself spending most of your time shipping the products and dealing with returns, only to receive a small financial reward.
For this to sustain a less-stress lifestyle, you usually have to hit big numbers (due to low margins), and that can take up a lot of your time (which defeats the object). Employing somebody will eat up all your profit, so that’s not an option either. You could aim for higher-value or niche products, which people will pay top dollar for, but, again, this strategy could be risky (if the market is saturated, say).
Based on the above, selling products on eBay and Amazon will rarely make you enough income to allow thoughts of retirement, unless it becomes a full-time thing (which isn’t the goal of a less-stress lifestyle). However, it is an easy place to start, especially if you’re looking to do something in addition to your current job. Most people don’t want to take the great leap from a full-time job to nothing (and rightly so), and selling products on the side can offer the perfect transition. If you’re not used to a bit of entrepreneurialism, selling products can give you the practice you need to continue to build your skill set and portfolio, allowing you to move on to bigger and better things.
Looking on the optimistic side, if you do invent a product, why can’t it be the next big thing? If it is, you’ve cracked it – job done! If this happens, I’d love to hear about your success story.
#8: Stocks and shares
I don’t trade on the stock market. There are companies you can pay to trade for you, but since I’m a control freak, this wouldn’t work for me either. It takes too long to learn to understand it, and it’s a full-time commitment. I have the time, but not the patience. However, there are plenty of people making a lot of money trading on the stock market. It is risky – but, like all risk, the more you understand it, the less of a risk it is. If you’re prepared to invest some serious time into getting your head around it, it might well become a significant part of your passive income.
I enjoyed the film Wall Street, but trading on the stock market doesn’t always equate to driving around in limos while wearing braces and sucking on a cigar. If you decide to dabble in stocks, please do your homework. As a rookie, you can lose money a lot faster than make it. Remember, you have to keep your eye on your investments. You can set up automated systems to do the work for you, but ultimately it’s up to you to research companies and make sure you’re investing wisely.
Saving is the slowest and most tedious method of producing a passive income because of its minimal return. Nevertheless, every penny counts. Nowadays, you don’t get much of a return for your money because saving interest rates are poor. Again, it’s about risk and return. Saving offers the lowest risk, and therefore the lowest return. I would never recommend basing a passive income strategy on saving alone (unless you have millions to save), but to utilise it as part of your overall strategy if you want to.
The longer you’re prepared to lock your money away in savings, the higher the rate. I’m not a fan of locking my money away for lengthy periods of time, and therefore the only savings accounts I utilise is usually an instant cash ISA. That’s because I like instant access to my money, so when I’m ready, I can take it out and spend it on something that could offer a higher return, like property.
#10: Peer-to-peer lending
Peer-to-peer lending carries a little more risk. If you haven’t heard of peer-to-peer lending, it’s basically people lending other people money. Rather than go down a traditional route (like getting a loan from a bank), you could use a peer-to-peer lending platform. The idea is you put in say, £100, along with fifty other people, and lend that money out to somebody who will use it for whatever purpose they need it for – a business, for example.
The return you get is higher than that you would receive with savings, but that’s due to the risk involved (the person might not pay the debt back). This, of course, makes peer-to-peer lending riskier than savings, but it’s up to you how much risk you’re willing to take.
I wouldn’t put all my money into peer-to-peer lending because – based on the above point – this would be a bad strategy. It could certainly be part of your passive income strategy because it fits the model well – once you release the funds, you don’t have to do anything else: you just wait for the return on investment (ROI). If you’re interested, start by Googling it, and do some research into who offers the best rates.
#11: Be a silent partner (an angel investor)
For this example, think of the TV series Dragons’ Den. If you’ve watched the programme, you’ll know that people pitch their business ideas to the Dragons, who then decide whether or not to invest. The person pitching will have day-to-day responsibility for their business, and the Dragons will put up their own cash for equity in that business, but will have no day-to-day responsibility for it. This makes the Dragons angel investors.
Being an angel investor requires you to have a lot of capital to invest, so it might be a longer-term strategy. If you currently have cash at your disposal, let’s get into it …
Like with peer-to-peer lending, there are plenty of people wanting to borrow money. If you want to lend money and don’t want day-to-day involvement in the business (this sounds exactly like what we’re looking to achieve), being a silent partner offers the solution. As a silent partner that’s all you do – give your money and let somebody else manage it.
You can do this in any industry, from property to pizza-making, and although you won’t have any involvement in the business, it would help to have some interest in the subject/industry you’re lending to. So, if you’re a vegetarian, investing in a burger chain probably isn’t your thing.
The risk here is the same as with peer-to-peer lending – you put money in and it’s not paid back. The person(s) you lend it to could go bust and take your cash with them. This is one of the reasons why I would strongly advise not to lend your money to friends and family for their new ventures. It almost always ends up turning sour. If you want to lend money to friends and family, do it with the view that you are giving the money to them – this saves a lot of grief and potential rifts. With this in mind, it’s probably best not to lend/give people money until you’re in a position where you can afford it.
Due diligence is needed to become a successful angel investor, like any other investment. On a positive note (in this chapter I’ve been very cautious with my advice, and I hope it hasn’t come across as negative), if you invest in the right company it can pay huge dividends. Imagine if you’d bought 25% of Google, Apple or Facebook in their fledgling days? Hello, less-stress lifestyle! There are some big and exciting opportunities out there!
If you decide to look into being an angel investor, there are plenty of platforms you can use that will put you in touch with people looking for investment. There are also regular events held for angel investors, and you can probably find one local to you. A good start is your local chamber of commerce or UK Business Angels Association (UKBAA): see www.ukbusinessangelsassociation.org.uk. These types of organisations operate in other countries under different names. If you Google ‘business angels associations’ you will find what you’re looking for.
Do your research thoroughly, and don’t jump in to something until you feel comfortable and know it’s right for you.
Most of my salary, bonuses, dividends and any other form of income I’ve received has gone into buying property. Property is a very expensive form of passive income, so I appreciate it’s not a viable option for everybody, but if you do have capital at your disposal, it is one of the most powerful ways to create a less-stress lifestyle.
A typical buy-to-let deposit (at the time of writing) in the UK is 25%. That’s a big chunk of capital which is not easy to acquire. Lots of workshops promise to teach you ‘no money down’ techniques to buy property (that is, not having to put down a deposit to buy a property), but I’m yet to see a genuinely sound investment that doesn’t require a lump sum. However, there are lots of self-made property investors to draw inspiration from. Not everybody has been given money to invest, including me – I’ve had to work hard at making the money, and if you focus on achieving it, you can do the same. (If you do have a legal strategy for acquiring property without putting much money down up-front – one that doesn’t require credit card funding – please get in touch. I’d love to share it with my readers.)
I own a small portfolio of properties in my local region. I find buying property in my local area a lower risk because I know the good areas (and the bad ones), and if a property needs my attention, it’s easily accessible. I bought my first property when I was twenty (fifteen years ago) and I still rent it out today. In those fifteen years, I’ve rarely had any trouble with tenants, and only seen one significant property crash.
You should make up your own mind when it comes to how much risk you’re comfortable with. I prefer to do my own homework, not depend on hearsay. I like to speak to other property developers and landlords. When I talk to them, I rarely hear horror stories. If I do, it’s generally because tenants haven’t been vetted properly, and the landlord has been sloppy. To reduce my risk and make my life as relaxed as possible, I use an agency that manages my properties for me. For a small fee, the agency takes care of everything, including vetting the tenants, and I only get involved if I need to.
I could write an entire book on property investment, but we’ve got plenty of other things to focus on. If you see property as one of your strategies for a less-stress lifestyle (and you should), my advice is to pick up some books on the subject. As soon as you’re ready, concentrate on your local area (because you know it best), and don’t be tempted to stray too far away (it will lead to more work). Speak to local agents and get them to do the legwork for you. I’ve never been to an auction, because they take too much time and effort, and there is a much higher risk that you might buy a money pit (auction properties can have issues like structural and legal problems, which is often why they’re being sold at auction rather than on the open market). If you fancy diving straight in, go to one, and get a feel for it – just be prepared to take on a full-time project, as many auction properties require a lot of attention. With more and more people attending auctions, there are fewer bargains to be had, so I don’t bother.
As I mentioned, don’t forget what your ultimate aim is here – to produce a passive income with as little effort as possible. For me, that means buying property that needs a little work so I can add value to it, property that a good tenant would want to rent, and hiring an agent to look after it for me.
Building a strong and sustainable property portfolio takes time and effort (and lots of capital). It doesn’t happen overnight. As I mentioned, anybody who tells you it does is usually offering something illegal, or wanting you to sign up to a seminar that offers bad advice. It’s all about making a start. Set the pace by trying things like renting a commercial space, parking space, garage or spare room (Airbnb is worth a look). That’s not for everybody, but you have to start somewhere, right?
#13: Buy an existing business
So far, I’ve listed a lot of stuff that requires groundwork, but if you’re lucky enough to have lots of capital behind you there is always the option to buy a business that is already earning a passive income. That’s a win–win! You don’t necessarily need a lot of capital – if the business is worth buying, you could get a loan. I say ‘if the business is worth buying’ because there are a lot that aren’t! You also need to factor in the cost of the loan. Plus, if you lend from a bank, they like to see that you possess experience in the field you’re looking to purchase in, and if you haven’t, they are less keen to give you money. This makes finding a new business difficult unless you have the capital yourself.
I have mixed views about franchises. If you don’t know what a franchise is, Subway and McDonald’s are two of the biggest, best-known examples. For a fee, Subway and McDonald’s will let you trade under their brand names and will set you up with a complete business model. They will provide everything you need, and all you have to do is hire staff. Franchises never appealed to me because I have never liked the idea of being dictated to. Plus, you still have the headache of employing staff whether you’re Subway or Steve’s Subs. There are obvious benefits to franchising, like having everything set up for you, and if you’re looking to buy a business, they are worth considering. Again, it very much depends on what you’re looking to get out of it. If you want control and the option to build your own brand, franchising isn’t for you, but if you just want to put your money into something that already works, and you don’t care about anything else, it could well be for you. The latter certainly falls more in line with a passive income strategy.
Only you know what’s right for you. Initially, it pays not to be too fussy, because you might never find what you’re looking for. A perfect business doesn’t exist, but if it has enough potential, you can always change it to your preference once it’s yours. If you can inject a healthy dose of passion, along with the will to succeed, you can make anything work.
#14: Solve a problem
When looking for a new venture it’s easy to overcomplicate things, but the truth is it’s very straightforward. A successful venture comes down to one thing: solving problems. The bigger the problem, the more you get paid.
People will pay handsomely for convenience and to have their problems solved, and that’s what industry is built on. When you leave your house today you’ll buy lunch (solving the problem of hunger), you might buy petrol for your car (solving the problem of getting home), and a bunch of flowers (doing your best to solve the problem of the argument you had last night!).
Think about why you buy something, and why somebody else would buy from you, whether it’s a product or a service. There are endless problems to solve, and that really is the place to start when looking for a new venture. Aim to serve – and you will never lose.
If you don’t know where to go next, a networking event could be the solution you’re looking for. Other people have a knack of stimulating ideas in you and, at a networking event, you’ll meet other like-minded people willing to share information and ideas. If you see other entrepreneurs in action, it makes it all feel more real, and if you haven’t taken the leap yet, they might provide the inspiration you need. Networking is also ideal if you’re looking to form or find partnerships.
There will probably be several networking events in your local area – you just have to hit the internet and have a look (www.meetup.com could be a good start). Some are free and some you have to pay to join, although fees are usually minimal and worth the cost. Aim to go to four or five and get a feel for the ones you like – stick with them and continue to develop relationships. You never know where it could take you.
Meeting new people is the aim of the game here. If you want to live a certain type of lifestyle, you’re better off meeting people who are already in that lifestyle. If you want to be a millionaire, hang out with them. Remember, you are the result of your environment, and if you want to have, you have to be. In other words, if you want to be a millionaire, start acting like one. Don’t wait until you become one; start acting like one today. Start hanging around with millionaires and learn from them. This method is a real timesaver too, because it might turn out you don’t want to be one after all.
Top golf clubs are a good place to start. Membership is pricey, sure, but just imagine the return on investment if you make friends with the right people who can make things happen for you. What if you don’t play or like golf? Is that the point? No. If it means taking your life to the next level, get to like it! There are a lot worse things out there than playing a round of golf, believe me.
Other stomping grounds for high-performers tend to be expensive gyms and anything to do with aviation and boating. Events and shows for these things offer an excellent opportunity to rub shoulders with the super-successful. Learn from them. Watch how they act. Ask them questions, and get chatting. Is it intimidating? Only as much as you make it.
Meeting winners and high achievers by networking has expanded my mind to things I never thought possible. I’d recommend you do the same. The rewards could be huge.
These ideas are based on the things I know about and that have worked for me. There are many more ways to achieve a passive income, and lots of opportunities out there. The things that have worked for me might not work for you (and vice versa). I am not giving you personal financial advice. If you feel you need financial advice, or other expert assistance, you should seek the advice of a professional advisor.
My intention here is to get the creative side of your brain working, because the more creative you get, the better. If you can find something nobody else is doing and it works for you, you’ll add instant value and improve your odds of long-term success.
These ideas aren’t necessarily about replicating other people’s ideas – it’s about expanding your mind so you can see and utilise more opportunities. Get researching, get creative, make a start – and, most importantly, have fun!
These ideas were taken from The Less-Stress Lifestyle. Start regaining control of your financial future today to get the freedom, time and money you’re looking for.