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9 Passive Income Ideas – How I Make $31k per Week

In this article, we’re gonna talk about  9 passive income ideas that you can make passive income,  And for each of those, I’m gonna talk about how hard it is to get started,  how hard it is to make $100 a month from it and how hard it is to maintain once you’ve created the thing in the first place.

 For me in my business, these nine different sources generate around $27,000 per week  these days with varying degrees of passiveness .And obviously, this has taken me  like eight years to build up.  So, don’t expect to be hitting those sorts  of numbers when you first get started .But this is the article that I wish I would have had  when I started my financial independence journey  many, many years ago, let’s go for it.

 All right, so, when I say passive income,  I always air quote it, because there is really no such thing as passive income . There is no way to make money without doing anything at all. But when I say passive income,  what I mean is that its money  that is not directly tied to our time.

 So, let’s say you were to write a book , If you write a book, you publish a book  that book is now on bookshelves . You’ve done the work, kind of once,  to write and publish the book. But now anytime the book sells,  you make money from royalties, that is passive income. You could literally be making money while you sleep  because you’ve created this thing,  which is out in the world,  which is generating income for you . The other thing with passive income is  that it always takes a very long time to get going . So, if you see any ads before this post   about how you can get rich quick by whatever scheme,  or if you see people in the comments  pretending to be me (screenshot pops)  saying, “Oh my God, here’s how you can get rich quick  with crypto, WhatsApp this number.”  That is all a scam, it’s not gonna work .

 There is no way to get rich quick .It is not a thing..  So, if you’re looking for a get rich quick scheme,  those things just don’t exist . So, you might as well not even try .And the way I think of this,  is that ultimately money is just a medium  for exchanging value.  The only way to make money is to provide value. And the only way to make passive income, passive money,  is to provide value in a way  that is not directly tied to your time.  So please, please, please, do not try  and join and get-rich-quick scheme, they don’t exist.  I’ve had lots of messages over the years  from people who have tried signing up  to a get-rich-quick crypto scheme or a gambling scheme  or a, “Hey, here’s how you kind of play poker online.”  None of these things ever work.  People always end up losing money.  The only way to make money is by providing value.

9 Passive Income Ideas

 so, let’s talk about  the nine different ways   that you could provide value if you wanted to . All right, so, let’s kick things off  with investing in stocks and shares.  And in this context, the way that we provide value  is by offering up our money,  Providing money and investing in a service  is in a way giving a form of value .And so, when we give our money to a company  in the form of buying their stocks,  it makes sense that we would get some kind of return  for that investment . And we’re starting with this  because investing in stocks is the easiest way  to make any kind of passive income.  If you have any sorts of savings  and they’re sitting in a savings account,  earning 0.01% interest,  they’re not really doing very much for you.  Whereas, if you had those stay savings and put them  in stocks, you could potentially be earning passive income  from the money that’s otherwise just sitting there .

9 Passive Income Ideas - How I Make $31k per Week

But the thing that I recommend  for most beginners as a non-financial advisor,  and this is not financial advice,  purely for entertainment purposes only,  or so people say, or at least the thing that I do  is that basically all my money  that’s in stocks and shares is invested in index funds . Now an index fund is something like the S&P 500. And when you invest, let’s say $1,000 in the S&P 500,  that basically means that your $1,000 is distributed  amongst the top 500 biggest companies in the US.  So, weighted by how big they are. So like, 2% of it would be an Apple,  2% in Facebook, 2% in Google, 2% in Microsoft  And then you probably won’t have heard  of the 500th company on the list,  but basically, all the big US companies you’ve heard of  you end up investing in all of them a little bit at a time.  So, if you wanna get started with that,  all you need to do is sign up to a stockbroker.  If you’re in the US you can use a Webull,   If you’re in the UK, you can use Freetrade or Vanguard.  Basically, whatever country you’re in  just Google the phrase, best stock broker platform,  your country name  and you’ll find something that works for you.  And then it’s very easy to be able  to invest in an index fund.

 So, within our famous side hustle assessment matrix,  we’re gonna give the difficulty of starting,  a one-star rating, one out of five . It’s very, very easy to get started with stocks . How hard is it to make $100 a month  by investing in stocks and shares?  Well, this kind of depends, because it depends  on the performance of the stock market overall .So, in the last 12 months, from 2020 to 2021,  the S&P 500, has actually increased by about 50%. That is a lot, it’s like gone up  by a solid 50% despite COVID and everything going on.  So if in April 2020,  you had invested $2,400 in the S&P 500,  the fact that it’s gone up by 50%,  means you would’ve made $100 a month.  But obviously, this is not the way to look at it  because things can go up and down,  and the stock market has different levels  of performance depending on  what time period you’re looking at.  But if we average out the last 30 to 50 years,  the S&P 500 has had  a roughly 10 point something percent return. Which means every year, on average, over the longterm,  it goes up by around 10% .This is not inflation-adjusted for any economists among us.  And so if we do some back of the envelope calculations,  if we wanna earn $100 a month, passively,  through stocks and shares, we would need  around about $12,000 invested in the S&P 500,  to make that 10%, $1,200 a year, which is $100 a month.  But as I talk about before about stocks,  overtime, we have compounding,  and so, if you put in $7,500 in the S&P 500  and you left it there for five years,  then five years later  you would be making roughly $100 a month,  if we go by this very average figure of 10% a year.  Or if you invested $5,000 in the S&P 500,  then 10 years later you’d be making $100 a month  in purely passive income . Again, assuming the 10% average . So overall how hard is it really  to make $100 a month in passive income  from stocks and shares?  Well, it kinda just depends on how hard is it  for you to make 5,000, 7,500, or $12,000 in savings  and put them into a stock market index fund?  And crucially this is money that you shouldn’t need to touch  in the next five to 10 years, at least.

 So basically how easy is it for you to make  that sort of money?  Obviously varies massively  depending on which country you’re in (laughs)  and what your circumstances are and what your job is  But if you’re in the UK or the US  where the median kind of average salary’s,  roundabout $50,000, something like that,  then again depending on your circumstances  it’s not that hard to get $10,000 in savings  Obviously, if you’re supporting a family  of 15 people on $50,000, it’s different.  If you’re a single person, again, it’s different  but I’m gonna give this roughly  a three out of five-star rating for difficulty  of getting $100 a month. Obviously, if you live in a country like India  where the average salary is $3,600 a year,  it’s very very difficult to make $10,000 in savings overall.

 And finally, the third category in our side hustle assessment matrix is how hard is it to maintain this income once you’ve set it up in the first place?  And we’re gonna give this a one star out of five because once you’ve got the money in you just like set it and forget it and it’s not that hard to maintain. There are other sources of passive income that require higher degrees of maintenance over time.  But stocks and shares is a very very easy way  to make passive income and to use my personal example  these days my stocks and shares portfolio,  which I’ve been investing in since 2015  is now worth a roundabout of $350,000.  And the vast majority of that is in the S&P 500 index fund.  Now, I can’t be bothered to work out the actual inflation-adjusted returns for that.  But again, if we assume a very very rough average of 10% a year, then that averages out to around $682 per week in purely passive income.

Start a YouTube channel

 All right, idea number two of 9 passive income ideas is to start a YouTube channel. So let’s use a side hustle assessment matrix  and we’ll talk about this.  How hard is it to start a YouTube channel?  Well, I’m gonna give this one out of five stars  because it’s actually very very easy  to start a YouTube channel .You just go on, You click to create a channel and you can upload videos  by just filming with your phone and uploading it.  In reality, it’s a lot harder to make good videos,  and making good videos is how you grow on YouTube.  But getting started on YouTube  is very, very, very straightforward. The real question is how hard is it to actually  make real money from YouTube?  So again, let’s say we wanna make $100 a month  in passive income,  What does that look like?  Well, firstly, to be eligible for monetization  on YouTube, you need a thousand subscribers  and 4,000 hours of watch time.  It took me six months and 52 videos  to get my first 1,000 subscribers  And if we look at the averages,  it actually takes on average 90 something videos  to get to 1,000 subscribers. So that’s quite hard if you’re thinking  you’re gonna start a YouTube channel  and start making money from day one, you know, that’s basically not going to happen.

 It took me 52 videos, six months to get there . So if people message me being like,  “Hey, I wanna start a YouTube…”  I was like, “Look, you have to be able to put in the effort  and do this for a very long period of time  at least once a week.”  I say for at least two years  before you can expect anything in return.  But let’s say you’ve hit your thousand subscribers  and your 4,000 hours of watch time,  How hard is it to actually make $100 a month?  Well, on average, the kind of revenue per thousand views  on YouTube is roundabout $2.  So this varies massively, but let’s say on average  about $2 per thousand views.  Therefore if you want to make $100 a month  you need 50,000 views on YouTube to make $100 a month.  Let’s say you make one video per week  and let’s assume you’re not getting any traffic  on your older videos ,That means every video you make needs to get  around about 12,500 views,  And very roughly the average YouTube channel  can expect a roundabout 20% of their subscribers  to equal the average view count for each video.

 So on YouTube, if you had 62,000 subscribers,  very roughly, very average lead,  you can expect 20% of them i.e. 12,500 views on each video  And assuming you have no evergreen content of the long-term  you would need to run about 60,000 subscribers  to be making $100 a month.  In reality, you make $100 a month a lot  before 60,000 subscribers . I think I was making $100 a month  when I had like 10,000 something subscribers,  like it was fairly early on.But when it comes to assessing how hard is this to do  I’m gonna give this a four out of five stars. It’s actually very hard to make compelling YouTube videos  and it’s very easy to get started, but it’s hard to do well.  It’s totally worth it, it’s a great skill set,  it’s really fun. You get to meet people across the internet , You get to learn how to talk to a camera  and how to film and video edit.  And it’s really great but it’s very hard  to actually make money from YouTube.

 Finally, in terms of effort to maintain ,Like actually getting that first thousand subscribers  is a lot harder than keeping it growing  ‘Cause once you’ve got a thousand subscribers  and once your channel is growing  it means you’ve landed on a formula that works.  And so maintaining it then becomes easier  than starting from scratch.  And so, in our side hustle assessment matrix  we’re gonna give maintenance  of a YouTube channel passive income stream  to be round about two out of five stars.  To use my example, I made 70 videos  before I started making any money from YouTube AdSense , And these days the YouTube channel  makes a roundabout $12,000 a month  in passive income from YouTube AdSense .

 Now, again, this is not entirely passive  because I keep on uploading new videos,  but actually the bulk of the amount of money  that we generate from ads is from older videos  rather than videos that were uploaded this month .So, with that caveat, $12,000 a month passive income  is roundabout $3,000 a week. There are other ways of monetizing YouTube,  like brand deals and like selling products  and just all other sorts of stuff.  But, it doesn’t really count as passive income  through YouTube, which is why I’m not including this  in this side hustle assessment matrix.

Start a podcast

 Idea number three of 9 passive income ideas  is to start a podcast.  This is generally easier than starting a YouTube channel.  Although growing a podcast is a lot harder  than growing a YouTube channel , because podcasts themselves don’t really have an algorithm  that’s helping them grow.  In fact, a lot of podcasts grow by having a YouTube channel,  which is kind of weird. Right, so how hard is it to start a podcast?  Well, again, one out of five stars,  it’s very very easy to start a podcast.  Go on and you can literally use your phone  and you could pass your phone around  between you and your friends and you can start a podcast  You can use a website called  that I’ve recently invested in as an angel investor. Riverside makes it very easy  to record remote podcast interviews.  It’s very, very easy to start a podcast  but how hard is it to make $100 a month  in passive income from a podcast?  Well, again, this is not quite passive income  because the way podcasters make money  is by relying on brand deals.  There is no YouTube AdSense for podcasts,  And so you need sponsorship or a brand deal  to make any money for your podcast, generally speaking  And apparently, you can expect to make  around $18 for a 30-second ad in a podcast  and $25 per thousand views or a thousand listens  for a 60 second ad.

 So if you wanna make $100 a month  and assuming you have a stream of sponsorships  who are giving you that level of a sponsorship deal  based on your download numbers,  you would need around 1,000 downloads per episode,  if you have a weekly podcast.  So you’d have 4,000 downloads a month ,And if you’re putting a 60-second ad in there  for $25 per thousand views,  that would make you round about $100 a month.  By having a thousand downloads per episode  and four episodes per month.  This begs the question how hard is it  to get a thousand downloads per month?  Well, it’s a lot harder  to get a thousand podcast downloads per month  than it is to get a thousand YouTube views per month. Because again, YouTube has so much distribution built in.  it’s different to podcasts and  Also loads more people are on YouTube than on podcasts. But if we look at the stats then it’s the top 20%  of podcasts in the world that get on average  more than a thousand downloads per episode.  To use a friend of mine as an example,  my housemate Sheen started her own podcast  around five months ago, there’ll be a link to that  in the description, if you want to check it out,  and on average, her podcast gets roundabout  400 to 500 downloads per episode. This is not bad at all, specially considering  she started five months ago  and had zero audience when she started.  So she didn’t have the unfair advantage  that I did when starting my own podcast.And I’m pretty sure that in the next six months  she’ll be getting to a point where she can quite easily  make $100 a month from her podcast.  So going back to our side hustle assessment matrix Starting a podcast one out of five stars,  making $100 a month I’m gonna give that  a three out of five stars because it’s hard,  but not as hard as maybe monetizing on YouTube  where you have this minimum threshold.

 And finally maintenance

 Well, it’s not really passive income  because you do have to keep on making podcast episodes  because the brand deals are associated with that.  But again, once you’ve stumbled on a formula that works,  once you know how to be a podcaster, it’s easier  to continue going once you’ve already gotten started,  as is the case with most things.  And, so in terms of maintenance of the podcast,  I’m gonna give that two stars.

Become an affiliate marketer

All right, so idea number four of 9 passive income ideas  is to become an affiliate marketer. Affiliate marketing means  that you are selling other people’s products  but you’re getting a percentage of the sales  from those products.  Now, apparently 48% of affiliate marketers globally  earn $20,000 a year which is $1,660 a month.  Which is actually not bad at all.   people are doing very well  with affiliate marketing overall.  So how hard is it to get started with affiliate marketing?  Well, I’m gonna give this a two out of five stars.  Basically, you can just sign up to an affiliate program  like Amazon Associates that have their own affiliate program  which I think is probably the biggest in the world. And then once you have your little special links,  you can post those on your website  or on Twitter or on social media or whatever. And if people buy the product through your link  or in fact buy any product on Amazon through your link  you’ll get like some tiny percentage of the sales. So pretty easy to get started with affiliate marketing,  but how hard is it to make $100 a month?  Well, this is actually kinda hard.  So let’s say you had a product that was $50  that you were trying to sell  and you were getting 5% commission on it.  That’d be pretty good.  Amazon doesn’t offer nearly as much  as 5% it offers like two or 3%, something like tha. And let’s say your average conversion rate  i.e people visiting the thing versus people actually  buying the product after visiting the thing,  let’s say that’s 1% which is pretty reasonable  for conversion rate. You would need 8,000 visits to your website  or whatever to make $100 a month.  It’s actually quite hard to get 8,000 visits per month to your website, to a specific product page , And generally doing well in affiliate marketing  requires lots of upfront effort in terms  of either building an audience  or building such domain authority  in whatever space you’re in,  that you’re sort of organically getting traffic.  Now, other than Amazon there are a few other  affiliate programs that I’m part like clickbank offers.

 So going back to our side hustle assessment matrix  how hard is it to make $100 a month?  I’m gonna give this a 3.5-star rating,  because again you need an audience, And as we always talk about on this post ,the way you build an audience is by creating useful content,  putting it for free on the internet once a week  and doing this for at least two years.  If you just follow those three steps I guarantee  you’ll have an audience and you’ll be able to make  some kind of money through this passive income stuff.  But that’s quite hard to do no one sticks to it  for at least two years.  So we’ll give that a 3.5-star rating. But the good news is once you’ve created it ,And once you started making money from affiliates  it’s actually quite easy to maintain  because especially if you have evergreen content,  the sort that isn’t relying on, like current affairs  or the latest news, the sought that people  might search for over a long period of time,  this becomes like relatively reasonable passive income.  Now, if we look at me and my business,  these days from Skillshare we make a roundabout  $11,000 per month in affiliate income  which approximates to around $2,750 per week.  And from Amazon on average,  like it’s around about $450 a month  from the Amazon UK store  and a little bit more from the US and Canada.

Sell digital products

 All right, method number five of 9 passive income ideas  is by selling digital products.  Now these are products that you create once, like an ebook  or a download or an app or something like that.  So you create it once and then you can sell it  multiple times because selling digital products  doesn’t usually have any costs associated with it.  One really good example is this guy called Traf,  who I follow on Twitter, who made an iOS 14 icon set  and sold it for like $30 a pop, a few months ago  and ended up making, I think like $300,000 in the course  of like a few weeks,  just because loads of people around the world  wanted to buy his icon pack.  So he put the work into creating the pack  and now he’s selling it for lots of money.  Another example is my YouTuber friend Oliur,  who has made, as he says $700,000 from selling his  website Tumblr themes since 2014. So he made the website themes for Tumblr,  he sells them and he makes $700,000 on average.  Well, overall, since 2014, that’s pretty cool .

 So how hard is it to get started making digital products?  I mean, anyone can write an ebook  an ebook counts as a digital product.  So I’m gonna give this a two-star rating,  two out of five stars,  but obviously like again money is an exchange of value.  So the thing that you’re selling you have to be  providing enough value to compensate,  to make up for the price that you’re selling it for. And that’s often quite hard,  especially if you don’t have any experience  in this sort of field  and how hard is it to make $100 a month?  Well, you know, it’s very easy to create an ebook  but it’s a whole different ballgame trying to get people  to actually buy your ebook or buy your icon set  or buy your app or buy your website themes .

 And, because the market around this stuff is so competitive  like you have to be genuinely really good  to get people to buy your stuff.   the way you get people to pay you money  for something is that you identify a problem that they have,  you solve that problem, and then you charge money for it.  And if you can do those three things, then it’s, you know  I wouldn’t say it’s easy to make $100 a month  but it’s very doable to make $100 a month.  You just genuinely have to have something  that solves a pain point  that other people are willing to pay for.

 So we’re gonna give this a three out of five stars to make $100 a month from selling digital products  And finally, in terms of maintenance, we’re gonna give this a two out of five stars because usually,  you do have to maintain your product a little bit but it’s often easier to do like it’s much easier to maintain a product than creating a product in the first place.

Create an online course

Idea number six of 9 passive income ideas  is to create an online course.  Now online course’s sort of like a digital product  but generally online courses are in video format.  Maybe I’ll write an article about this very topic. in terms of getting started,  we’re gonna give the starting difficulty  a two out of five stars, ’cause it’s not that hard  to make an online course  but generally, you do need to know how to do a video.  So, you know, you actually could film an online course  on your iPhone or phone, whatever phone you’re using,  if you’re one of those Android heathens.  Stick your phone on the side,  talk to the phone, teach something.  So, it’s not hard creating one,  but in terms of making $100 a month, again,  at that point, your course needs to actually be good . And the only reason people will pay for it  is if the course is actually good.  Now, you can avoid having to charge for your online courses  by using a website like Skillshare. They’ve got thousands of classes  on all sorts of other topics,  but you should definitely check out mine,  like the nine that I’ve got.  There are three around productivity now,  like the fundamentals of productivity,  the sort of productivity equation,  which is how I think of productivity  and Productivity for Creators.

The other way of making $100 a month from a course  is to just charge $100 for a course  And then if you do that, you just need one sale every month.  So how hard is it to get one person a month  to buy your course?  Well, again, if it’s good, you know, the world  of online education is exploding so much every year more  and more money’s being spent on online education  especially with the whole pandemic stuff. So if you have a valuable skill that you can teach  I think courses are one of the best and easiest,  or one of the best ways of making passive income  because it’s fun to create a course, you can teach stuff,  you don’t need that many technical skills,  like making a website or anything like that  Just show  it on Skillshare. And then people can take your course  and learn on the internet . And like, you know, it’s just cool overall.  And the nice thing is that once you’ve made the course,  and once you’re making $100 a month from it,  maintaining that level is actually quite easy. We’re gonna give that a two out of five stars  because generally, you don’t need to  update the course that often. And you can do that once in a while  and you just need to make sure  you’re getting a reasonable amount of traffic to it  And hopefully, that traffic will grow over time .

 These days, the vast majority of my online courses,  at least the very passive ones are hosted on Skillshare  and it’s kind of ridiculous . But ,these days they make roundabout 60,000  to $65,000 per month in purely passive income.  Like I literally do nothing for my Skillshare classes  once I’ve made them other than a reply to comments  and other than occasionally plug them in videos  And that’s like $60,000 a month in passive income. That means this is a roundabout of $15,000 per week .And this makes up the bulk of the $27,000 a week  that this business currently generates  in purely passive income.

Membership  or community model

 Idea number seven of 9 passive income ideas is by creating, some call it, some kind of paid membership  or community model . Now, again, this is generally a bad idea  unless you have an existing audience,  which we keep coming back to.  Like everything becomes easier  when you have an existing audience by creating content  that has been valuable over a long period of time,  very consistently.  That audience knows, likes and trusts you  and so when you say, “Hey guys, sign up to my Patreon”,  then some people are likely to do that thing.  The other way of doing a membership  is by creating a value proposition that is so compelling  that people would be willing to pay  for a community-like service for this.  If we use Patreon as an example my friend Hannah Witton,  who’s a YouTuber, she’s got roundabout  600,000 subscribers on YouTube. And ,I think she has around 600 Patreons,  626 last time I checked, which means if we look  at our Patreon stats, which are public,  she’s making somewhere between 2,000 and 5,000 pounds  or like 3,000 and $7,000 per month  in passive income from this audience. But it’s like 600 people out of an audience of 600,000.  So one in a thousand of her subscribers  have signed up to her Patreon.  So clearly, you know, if those stats  are true across the board and they kind of are  if you look at Matt D’Avella Patreon on as well  you need a big audience  to make a significant amount of money for Patreon .

 Again, this sort of depends on how much you’re charging for them and exactly what value you’re providing. Another example of a paid membership community is my friend Anne-Laure who runs a website called Ness Labs and they have a paid membership community which is $5 a month.  And she started this in the summer of 2019. She had zero audiences at the time and she just wrote a hundred blog posts over a hundred working days and built up an audience such that in March 2020, when she launched a membership she had some paying members for it initially.  And I think last month she’s just passed  $100,000 a year in annual recurring revenue,  which is pretty awesome from something that started less than two years ago.  So how easy is it to start a membership program?  Well, it’s actually very easy  We can give this a one-star because it’s very easy to start one, you just make an account on some kind of membership platform like Patreon  But to make $100 a month,  you need to provide $100 a month worth of value, And that’s actually quite hard to do.  We’re gonna give that a four out of five stars but the nice thing is, again, once you’ve got that formula,  once you’re making $100 a month it’s actually a lot easier to maintain it because the way the economics of membership communities work,  it’s provided you keep showing up and providing value in some capacity,  you know, people have already signed up for the thing. So it’s not too hard to maintain that level of support that you’re offering them, For this business, we have a membership community for our Part-Timer YouTuber Academy for the alumni,  which is called the Part-Timer YouTuber Inner Circle  And we make roughly $2,800 a week from this membership community.  It’s not very passive.  We run like three or four events per week along with like twice a day, co-working events on zoom and we have lots of stuff going on.  So it takes a lot of work, but $2,800 a week it’s pretty good for a membership community.

Sells goods or services 

So idea number eightof 9 passive income ideas  is creating a business that sells goods or services  and then automating or delegating aspects of that business  so that the income that you generate  from, it is reasonably passive .This is the stuff that Tim Ferris  talks a lot about in “The 4-Hour Workweek”,  where there are a lot of businesses  that you could make where you’re selling a good  or selling a service  and then you can delegate, outsource, automate  and intelligent ways to make the income passive.  So again, using my friend Oliur as an example,  on his YouTube channel, he talks about  his $1 million Shopify store. He designs manufactures and sells these really cool  vegan leather kind of desk accessories and bags  and mouse pads and that kind of stuff . And this was loads of work in setting up  but now he’s got a team of three other people  that manage the business.  And so he spends proportionally less  of his time running that business.  And so it’s sort of passive income for him.

 Even though these days, he still does spend around  10 hours a week, maintaining things  Equally, if you’re going down the service route,  I’ve got a friend who runs an Instagram and Facebook ads marketing agency,  where he has clients who pay him some,  I think a few hundred dollars per month to manage their Facebook and Instagram ads. And for him, it’s like a small amount of work initially to set up the Facebook and Instagram ads but then it’s sort of automated and he’s got a team around it. And he’s used using things like Zapier to automate aspects of that business so that each month he has to do a very small amount of actual work to keep it ticking along.

 So these are different ways of generating passive income  from a kind of goods or service-based business  But it’s quite hard to get started with this stuff . To get started we’re gonna give this  a four to five-star rating because again,  you need to create a business  and it’s quite hard to make a business  that genuinely provides value.  Equally, we’re gonna give it a four out of five-star rating  for making $100 a month in revenue. Because again, you have to be able to provide value  and providing value is hard  it’s not as easy  as making an account on a stocks platform  and just putting some money in.  You actually have to give value to people  which is kind of hard. But the nice thing is once you get started  like with anything, maintenance is a little bit easier.  So we’re gonna give that a three out of five-star rating .

Build an app or a website 

 Finally idea number nineof 9 passive income ideas  is to build an app or a website  or some kind of software product that you can offer  either as a one-off or more likely these days,  as a subscription service.  And there’s a whole category of this called SAS software as a service . Now, if you look at the website,  there are like literally hundreds of examples of people  who have built software businesses  that are making passive income  and they share their revenue numbers  and they tell you how they got started  and they give you their tips. In fact, I was recently interviewed on an episode  of the Indie Hackers podcast, which is really cool  ’cause I’ve been listening to it for years  and it’s like following the website for years.  And I was interviewed around the concept of starting  an online course like the Part-Timer YouTuber Academy. Now I’ve had a bit of personal experience with this.  So when I was at university I made a website  called BMAT Ninja and UCAT Ninja.  So software as a service it was a question bank  for medical applicants applying to medical school  to help them do well in the admissions tests.  And this was something that me and my brother  coded completely from scratch.  He and I both know how to code,  we learned when we were young.  And so we worked over the summer of 2015  to make these things happen.  I think in year one, we made about $10,000  and in year five last year,  it was around $25,000 from BMAT Ninja. So, you know, it’s pretty good money  but it was a lot of work to set these things up. And so in terms of starting out  I’m gonna give this a five out of five-star rating  because to make an app it’s actually quite hard. You have to know how to code for the most part  you have to be able to offer something compelling  and you have to actually build it which takes a lot of work  and it’s very hard, but it’s a lot of fun.

 And then once you’ve made it  I’m gonna give $100 a month difficulty a four-star rating  Because ,again, it’s easy well, easy enough .You can make an app, but then getting people  to pay for the app is an entirely different kettle of fish . So we’re gonna give that four stars.  But the nice thing is like with everything,  maintenance is a little bit easier  so we’re gonna give that a three-star rating.  If you like this article and you wanna get started  with your own entrepreneurship passive income generating journey on the internet .

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