As the title says, it’s so difficult to find a good source of passive income. Im doing a lot of research but everyone says the same thing over and over, but everything seems so overcrowded that it’s crazy hard to impossible to actually start something.
Im doing this post as a means to help people like me, and report my overall progress, and also to have some feedback, let’s help eachother out guys!
1- I started offering freelancer services on freelancer.com, fiverr and others. My services mainly involved design since that is my bachelor’s. I understand it’s not passive income, but in times of covid, i needed money, even if it wasn’t passive.
I had zero success here, i started offering to paint people’s pet on instagram and that’s how i started getting any revenue (my friends helped here, they shared everything i posted and i ended up getting some illustration gigs, this is my income now).
2- Tried making patterns on Redbubble and Colab55, i have around 20 designs and trying to make more everyday, still zero income from that.
3- half my income i put on the stockmarket, this is my biggest source of passive income, but since i don’t believe in daytrade as a poor person, the gains are sloooooooooow (think 10% year)
List of passive income ideas :
1- blogs. People keep talking about them, but it’s so crazy to start a business having to pay a monthly fee for something that probably ain’t gonna work.
2- make apps. Most people looking for jobs are developers right now, apparently everyone and their mother started studying programming 5 years ago and the market looks crazy saturated.
3- dropshipping. Im yet to dwelve in this, so i can’t really talk
4- write an e-book. Writing a book is insane hardwork, and the chance of it suceeding is crazy small, if you have the time to spare and likes writing, it is maybe a thing to consider, but you will need to spend some cash on marketing and a designer to organize it.
Ok so, my attemps at passive income have been pretty shitty, i got a gig so i guess it wasn’t a useless endeavor. I will be super glad to be wrong on my remarks, but that have been my experience, im still trying though, so suggestions are welcome!
So the only advice i can give from this experience is, really take your time to think on designing a plan, write down what is your strongest points, and work with that.
Always remember that TIME is the most valuable resource and the best way to use it is with a strategy.
I can only do design, but im better with illustration, im not great by all means, but it’s my strongest point. Also, lucky me i had people willing to help, so luck was totally a thing too.