There are two main ways to make money in this world; renting your time to someone else or making a product or service that pays you day after day. Either is fine, but the income streams you set up once continue to pay you without spending your time is a smart move.
This is called passive income, and it is one of the best-kept secrets of the rich. But, no matter what we do for a living, there is no harm in an alternative source of income!
You would be a fool not to.
Like the famous saying, “there are a million ways to make a million dollars,” there are many ways to make passive income. Chances are you’ve thought about some great ideas in the past and continue to every single day.
There is no perfect method, and, like most things in life, there are no quick ways. Some of the timeless “classic” methods of making passive income include:
- Owning and renting out a property
- Owning a stake in a successful business that pays you dividends
- Investing in assets that appreciate over time (precious metals, land, works of art, etc.)
- Getting royalties for a book or piece of music
- Creating a business model for a franchise, and so on
With the advent of the internet, there has never been a better or simpler time to make different types of passive income. But, most of these will require some investment of cash or time to get the ball rolling.
Others, like property, also require ongoing time and money maintenance investment. They are, in a sense, quasi-passive.
People in the know recommend things like writing a blog, starting an online course, publishing eBooks, and keeping your YouTube channel active with ads and sponsors. These are all great ideas, and the best part is that there is no reason you can’t do this too.
All it takes is inspiration, and determination, to do so! What’s more, you know stuff, and trust us, someone out there is probably willing to “rent” your smarts.
Who knows, your know-how could provide a very lucrative passive income stream for you!
The critical point is to let it out and select a suitable medium to get your work in front of a receptive audience. “Build it, and they will come,” as the saying goes.
And there are plenty of success stories to inspire you.
Hobby blogs that suddenly make 5-digit revenues per month, online courses that attract hundreds of subscribers very quickly, or YouTube channels that suddenly go viral.
The only limit is your time, dedication, and passion.
So, what’s stopping you from getting started?
Are you holding yourself back from thinking about all the work you need to do?
Well, that is a natural feeling. Making successful passive income streams online is not easy, and you usually won’t begin to make mega bucks instantly.
Getting started is hard! The initial workload investment and audience building are not child’s play. But that doesn’t mean you shouldn’t explore any tools to help lighten the load.
Try a mini-course!
These are great jumping-off points to get the ball rolling and don’t require coding, editing, or other skills to set up. There is no learning curve, and you can get a mini-course set up within minutes.
So, instead of sitting around and overthinking your passive income stream, why not bite the bullet and develop some courses? Who knows where it will take you?
So, how do you get started?
The best way to start anything, especially a passive income stream, is just to get stuck in. You’ll never really be ready.
Creating and sharing a mini-course with Mini Course Generator is super practical, easy and fast. You can combine various content types like information cards, quizzes, surveys, videos, and even podcasts. Blend information with interaction seamlessly and experience a sense of achievement in a short time. You can prepare a micro-learning journey in minutes and present your work with no login barrier and without distracting items. AI-Assistant is also a great reason to stop procrastinating! Once you dive in and create an outline for your content, the rest is a piece of cake with AI. Here is a video that shows how:
Here is another charm of mini-courses! As you don’t need to invest so much time and money in it, you are free to experiment! Try a few ideas, Rome, after all, wasn’t built in a day. If you don’t already know your audience, develop a few different courses and test them.
The market reaction to your courses will soon let you know what works and doesn’t. You can also present them in a collection if you like. Mini-course collections are wonderful to present content in an ordered and organized way. Read more about collections, here.
See what works best for you! Use your mini-courses as standalone marketing materials or funnel potential customers to your other products and services.
Another strategy is to sell first and create later! You can create and present a course skeleton via a mini-course, pre-sell it, and then build the whole thing once you know you are on to a winner! Starting small with mini-courses lets you save time and money! Besides, at the same time, you can ask questions in the mini-course, learn more about your audience, and get the chance to build a great offer!
After all, creating a customer profile is only possible via two-sided communication and interaction. Compared to other passive digital products, like free eBooks, a mini-course has an interactivity factor that makes it possible for you to connect quickly and turn cold visitors into engaged audiences.
This is, quite frankly, worth its weight in gold!
There are great real-life examples out there of people who are using their know-how to create online courses. Malcolm Dewey, a full-time artist, and art coach, uses his mini-courses to engage with his audience and introduce them to his programs.
Check out his mini-course embedded below for inspiration!
You’re good at what you do. Why not share your know-how and get paid handsomely for it?
A no-brainer if you ask us.
All in all…
The versatile nature of mini-courses got your back when it comes getting started small and fast! Several use cases are possible, including those presented in this article. Discover several more ideas on our blog.
So go ahead and create a mini-course with Mini Course Generator to achieve more with ease and speed!