Who is Roland Hint

Sunday, 30 November 2014

3 Ways To Increase Your Passive Income

There are many ways to increase your passive income. And many things really work. I will honestly tell you which ways I have tried and discovered as beneficial. Methods that did not work for me, just didn't work for me and they might be good for you, so try them out also if you are interested.

Here are the methods that I have tried.

#1 Fiverr: The first way I tried to make passive income online was by utilising fiverr.com. This platform was really good for me to discover that you really can make money online. First I offered making videos for people.

 Not having a digital camera at that moment, I used the webcam of my computer. Believe me the results were really not good, so I had to make the video even better. I think I have created around 30 videos for people and I mostly got good reviews. I had some orders at the beginning when I was still ranking higher as "New Arrivals" had not pushed me on the second page, but with the time I hardly had any orders anymore. Maybe 1 or 2 per week and this for $5 (actually just $4, as fiverr gets #1 for every $5 you earn). So, I tried to do something else on fiverr.

I launched about 15 different gigs in various areas and some performed for a while and then mostly the orders decreased. Actually just one gig made me a bit of money, it was a proofreading service I offered. In the meanwhile sales went down to maybe $10 per month. Before that I even had a few month where I earned about $250. Not exorbitantly high but still better than nothing. The problem on fiverr nowadays is that the competition is very high. Many people do stuff that's so cheap its nearly for free and it's hard to be competitive.

#2 Website: Building up a website, try to rank it high in organic search, promote products on it and make millions. The problem, the millions never came :) I think starting a blog and writing insightful stuff is a really tough way to create income. It's so tough because it will take a while to built up a blog, to get a following and then help them with whatever your page is about.

If you are into beauty products, you might create videos of yourself using a night creme over a 1 month and then posting your results. You could show your followers how it benefitted you and create an affiliate link to the product and hope that somebody is buying. Personally I am running a few websites next to this one where I am offering some products and I am promoting them over this page. It does work but the success is limited so far. If you are running a blog, you have quite a few tasks to fulfil on a weekly basis and as long as you don't earn thousands or at least more than $500, outsourcing is often a burden. This area of my business is continuously evolving and I still have a long way to go.

#3 Kindle E-Books Publising: Personally I think that this is one of the best ways to earn "quick" passive income. You have to write an e-book and create an account on Amazon. then you have to create a ebook cover and load your book onto the Amazon store. This is relatively easy, the really work is creating the ebook.

To speed up the process however, you could outsource this business area. There are a few pages like iwriter.com or odesk.com that offer the possibility to hire somebody who writes the book for you. Unfortunately it is not that easy to find a really good writer. You will have
to test and try until you have the writer you like and off you go. Writing ebooks and selling them online is the quickest and I think also easiest way to generate passive income.

These are three ways that I have tried out to generate passive income. Would be interesting to know what you have discovered. Feel free to share your thoughts in the comment section below.

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