Top 9 Ideas to Build an
Additional Income Stream
Are you a person who is really looking forward to building an additional source of income for yourself? If yes, then you are in the right place! I have made a list of the top 9 methods by which you can create an additional stream of income for yourself, even if you are a student, employee, business owner, home-maker, or are in any other full-time profession.
Any of these could an be amazing, stable Passive Income Stream if pursued diligently. I have chosen these 9 methods due to the reason that the capital investment amount required in these is low and the returns are unfathomable. The best part is, you can work on any of these from the comfort of your house!
So, let’s have a look at what these are…
1. AFFILIATE MARKETING
Affiliate marketing is a process by which you earn commissions for promoting and selling other peoples’ products. It is the best way to earn money according to me, as you can literally earn millions by just sitting at the comfort of your house, and that too completely passively! Although, you have to be careful about one thing: IF YOU DO WHAT THE MASSES ARE DOING, YOU WILL GET WHAT THE MASSES ARE GETTING – EMPTY BUCKETS! You have got to be unique!
If you want to build an unshakable business just by doing affiliate marketing, there is one course that I would highly recommend – Affiliate Marketing Academy. I have purchased this course myself and I have completed it too. It truly has the potential to change your life!
2. NETWORK MARKETING
Network Marketing is a business model in which the person may earn money from both – direct sales to customers and by sponsoring new direct sellers and potentially earning a commission from their efforts. It is an amazing way to earn income passively. This has such an extraordinary scope that you can quit your 9-5 job and do this full time! There is no cap on how much you can earn through network marketing. The best part is… you earn money completely PASSIVELY!
I have some known associates who are very successful in this field and are full-time networkers. If you want to know more about this, get in touch with me via email – email@example.com or you can also contact me by sending a message through the Contact Me page.
A dropshipping store is an online marketplace where you can sell your own or someone else’s products according to your own will. Opening your own dropshipping store on Shopify is actually a piece of cake. Click here to access a step-by-step program that will show you how to start your own dropshipping store. The investment amount is almost negligible and the profits are unlimited! This is an option I would definitely recommend trying out right now!
4. STOCK MARKET TRADING
Many of my friends and known associates are investors in the stock market and I can tell this hands down, YOU CAN LITERALLY EARN A FORTUNE BY BEING A STOCK MARKET TRADER OR INVESTOR. I strongly recommend you to learn how to trade, as there is no ceiling as to how much you can earn in the stock market. You have to be careful though. You can lose money as quickly as you can earn it too! Patience is the key.
5. STARTING A YOUTUBE CHANNEL
You can start your own YouTube channel completely for free and post videos to build a social following. Just chose a particular Niche about which you would like to make content. Chosing a niche is important because that is what you will be known for in the digital space! So, my suggestion is, pick a niche / topic that you LOVE to talk about. This will help you in the long run and will also keep you motivated.
YouTubers get paid through the way of advertisements. You just need to be careful about the content you are willing to offer. You must keep three questions in mind before you create your content:
- Would I watch and recommend the content myself?
- Can people relate to and understand my content?
- Am I providing value or an amazing experience for my viewers?
To know the earning potential of your YouTube channel, visit the influencer marketing hub.
6. CREATING DIGITAL COURSES
The best way to make it big in the Digital Coaching Industry is to create your own Online Community and focus on providing value to them through your knowledge & courses. The digital coaching industry is going to experience a HUGE Boom in the coming years. After the pandemic, the world would never be the same as we know it to be. People will be more inclined towards online education and learning. You could ride this wave to make it to the top if you are willing to put in the efforts!
If you are interested in creating your own digital courses, I would recommend you to get in touch with Siddharth Rajsekar. He is a lifestyle coach who teaches people how to be digital coaches. He is also one of my mentors who has helped me in my journey.
7. WEBSITE CREATION
If you are a techie or have experience in creating websites, you are lucky. In the current generation, every company has to be on the internet! You can get paid as high as 1000$ for creating a website for a well-reputed company. But before you create an amazing website for others, you should have some experience yourself and you should have your own website! If you are a beginner and you want to create your own website, you can also use these platforms to build your own websites without a lot of hassle:
A freelancer is someone who doesn’t work for one company full-time but is hired by different companies for certain jobs. For example, a magazine or website will have a core team of editors who hire freelance writers to write articles, or a TV production crew might hire freelance cameramen to work on one series of programs. Freelancers are in high demand by the companies in today’s date. You just need to know your interests and develop them as skills. That is all you need to be a freelancer! One of the best ways by which you can start earning as a freelancer is by registering yourself on Fiverr.
9. AMAZON KINDLE PUBLISHING
Amazon kindle publishing is a way by which you can publish kindle versions of famous books on the amazon store and get paid a specific amount of commission for every sale. You can also publish your own book’s Kindle version here. The best part is that enrolling for this program is completely FREE of cost and you get to learn something new too. The pay is comparatively less but you can try it out. Try it out here: Amazon Kindle Publishing
Which one did you find the most interesting and appealing? Let me know in the comments section below 😉
Also, if you are not yet a part of my exclusive community, make sure that you join it by clicking on this link – Digital Entrepreneur’s Hub