Budgeting,  Side Hustles

3 Ways To Make Money Online and Earn Passive Income With Little or No Money

Reading Time: 4 minutes

There are so many people searching the internet every month on “how to make money online” (18,100 every month in fact) 

So why isn’t everyone a millionaire? Well, it all comes down to self-belief. The likes of Gary Vee is continuously banging on about how simple it is. We think it’s harder than it is and we tend to overcomplicate matters. That being said, it’s not as easy as people make out, you do have to put the hard work in and occasionally turn down invites from friends or family as you are working on your hustle. 

So what is the difference between being wealthy and being rich?

So for those looking for a get rich quick scheme, then this isn’t the blog post for you. I am going to teach you how to get rich slowly but surely. So if you want to know how to generate a constant passive income, then continue reading. 

Well, think about Ebeneezer Scrooge. He had a lot of money, come on he was rich! However, he lived a small purposeless life. All he did with his life was work, eat and sleep. He didn’t live a full, balanced and enriched life. That was until the ghosts showed him the error of his ways, and he soon changed how he lived his life, only then he became wealthy. Did he start earning more money? Did his numbers come up on the lottery, OK, that was a bit far fetched, but you get what I am saying?

Rich = Rich people have high income and lots of cash such as a world-class basketball player.

Wealthy = Wealthy people own assets that generate income such as a real estate empire that stays in the family.

3 Ways To Make Money Online and Earn Passive Income With Little or No Money

Affiliate Marketing

Affiliate Marketing is one of the easiest things you can do to make money online. Amazon.com (.co.uk) and eBay both have affiliate programmes. You can join networks like Awin that is a global affiliate marketing network. It has 100,000 publishers and 13,000 advertisers.

If you want to start small, you can recommend products on your personal social media pages. However, I recommend you have separate groups/pages purely for your business. Growing your affiliate marketing business will take time but if you had a following of 10,000 people and just 1% of them spent £20.00 each month through your affiliate links with an average of 5% per sale that would equal £100.00 in paid commission every month. Scale that up, and 100,000 followers would earn you £1000.00 per month using the same formula. Imagine if 5% of your followers clicked through and bought from your affiliate link, that would be £5,000 per month if you had 100,000 followers. 

Retail Arbitrage

Retail Arbitrage is what Gary Vee is continuously telling people who tell him they want to make £100,000 per year. He says this is one of the easiest things you can do and I don’t disagree. You can go down to your local bargain store/pound store/dollar store pick up 100 x Colgate Toothbrush Premier Clean 4 Pack from B&M for £1.00 each then flip it on Amazon for £2.19. That’s a gross profit of £119.00 minus fees. 

Sound too easy? It is, the hardest bit is overcoming your own criticisms and self-doubt. 

Write an eBook

We’re all experts on something. Some people are so passionate about their dogs they have written a handbook on how to keep your German Shepherd happy healthy and well behaved, mum’s who have been at their wit’s end have found solutions for new mums to help with their sleepless nights, investors who specialise in specific industries have written beginner guides for those getting into crypto, for example, and others have created products that teach self-defence. You will be surprised what kind of products are on Amazon Kindle, Clickbank and Etsy. 

I created a product on Clickbank called “How To Sell Your House Quick”. It’s for those whose home has been on the market for several months; they aren’t getting many viewings, any offers and they just don’t know what to do. I would call myself an expert in this field. I have viewed, bought and sold many properties. I have seen some great properties, and I have seen some terrible off-putting properties. What I thought was basic and common sense was actually a skill I’d acquired after my many years in the real estate industry. 

It just about having the confidence, knowledge and ability to monetise that information. Clickbank is the perfect platform to sell your eBook along with Etsy, Amazon Kindle Publishing

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*post contains affiliate links*

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