This post will cover passive income ideas that a beginner can follow in India in 2024.
We are living in 2024 and it’s never been a better time to work on passive income. No matter if you are working in a regular 9-5 job or studying in college, anyone can start working on passive income ideas and turn your skills and knowledge into profit.
But first, let’s address the elephant in the room…
What is passive income?
Simply put, passive income is a way of earning a regular income from a source for which you have to invest time or effort or both only once. Once this source is created it will generate regular income with very less effort required for just maintaining it.
Passive income is not at all about getting money falling from the sky as many online gurus teach. You have to put in your time and effort to create this source and then you can expect it to earn money for you after some time.
Eg: If I am working as a video creator for a company then in order to earn money I have to work daily and create videos. If I don’t create videos I will not get paid.
But on the other hand. If I create videos for my Youtube channel it will earn AdSense money or maybe affiliate sales as long as that video is LIVE on the internet.
Thats what passive income is. You create a source once by putting in time and effort and let that source make money for you.
But let me make this very clear. Passive income is SIMPLE but its no way EASY. You need to put in the efforts like any other business and then it will start giving you results like any other business. It will take time to earn but that’s how any other business works.
But unlike others in the passive income, you have to invest a very little amount of time in maintaining that income source.
Here are some of my favorite ways of earning passive income for beginners in India.
1- Start a Youtube Channel
If you are following me regularly. You know I am a big fan of making Youtube as a business. If you have a skill that you can teach to people then you can easily make passive income out of it. I run multiple channels, some earn from Adsense and some earn from affiliate commission.
But the idea is that I have invested my time and effort once in creating a video and then it continuously makes money for me.
Even if you don’t have a skill right now or you think you are not at an expert level in teaching something, still you can make videos at whatever level you are, there is no end to ideas in any category.
2- Start a Blog
Now if you are not comfortable with creating videos then the next passive income idea is to start a blog. Once again try to make it around a skill that you can teach or something you are passionate about that you can write about.
If I have to choose between a blog or a youtube channel I will anytime choose blogging. There are so many reasons for that. But for now, I can only say that, if you are not comfortable with the process of video content then blogging in long term can be your best source of passive income.
Also Read: 7 ways how to monetize your blog from day 1
3- Sell Ebooks online
When I first heard about this source, I was like I am not a writer, I can’t even think about how to write a book, and how can one book earn so much that one can make a full-time living out of it.
Well, I learned more about it and tried it for some time in my free time and I am surprised by the results. I am just a beginner and right now making decent money by selling Ebooks.
4- Selling online merch
If you are an artist then these days it’s so easy to sell your art online and not just once. How about if you can sell your art piece again and again without re-creating that
True passive income – right!!
There are so many platforms out there where you just need to upload your artwork and then these platforms put your artwork on various products and people will buy online and you as an artist get a regular commission.
Gone are those days when you have to beg art galleries to sell your paintings. Now you can easily sell your art online and make passive income out of it.
5- Sell Digital Products
Just like Ebook and merch, you can sell some other digital products online to make a passive income stream. Now this one works best if you have some decent skill level in any field in which you can think of creating a digital product.
For example, if I know WordPress I can create website templates for small businesses and sell on different marketplaces. Or maybe I am a graphic designer then I can create digital graphics like posters, stationary, banners, T-shirt design or may be Instagram story designs and the list is endless.
You can sell them from your own website or just list them on various marketplaces and just earn a commission from each sale.
6- Stock photography
You know you take great photos but you are not a professional and for any reason, you don’t take freelance contracts. You can still monetize your photography skill and make a passive income stream with that.
First, you can sell your photography on merch marketplace sites if your photography looks good on various merch. Or you can also sell your photos on stock photography websites.
There are various websites where you can list your photos and then once the image got sold you will earn a commission from that lifetime.
Not just images, If you love to shoot videos you can sell that as well on these stock photography websites.
All you have to do is shoot for a specific theme or event and then sell that photo or video online.
7- Alexa skills
Yes, that Alexa device sitting in your home can make you money. As you know Amazon Alexa works only on skills and amazon allows people to develop a skill in some specified categories and then you can earn money from that it. You can add in-skill purchases or you can also earn from Amazon rewards.
The best way to monetize your Amazon Alexa skill is to add a subscription model so that people can keep coming back and pay you monthly.
In order to build a financially secure future, in this digital world the best way is to start working on creating a passive income streams right from today. Once again passive income is not something that you can cash overnight. You need to work hard consistently to build a source that can make you money in long run.