Hi and welcome back to another great article of this multipart series about passive income ideas. Today’s article marks the 7th part of this multipart series. In today’s part, we are going to talk about using your knowledge and expertise for passive income ideas. I believe that if you are reading this you have some skills or expertise of some kind. In this part, we will teach you how to use those skills to create a passive income for yourself. First of all if you have not read the first 6 parts of this series, read them below:
- Passive Income Ideas (Part 1 – Investments).
- Passive Income Ideas (Part 2 – Real Estate).
- Passive Income Ideas (Part 3 – Digital Products & Content).
- Passive Income Ideas (Part 4 – Online Presence).
- Passive Income Ideas (Part 5 – Automated 💼 Business / Side Hustles).
- Passive Income Ideas (Part 6 – 📦 Assets You Already Own).
After you finish reading those 6 previous parts, now we can dive straight into the today’s points.
Knowledge & Expertise Passive Income Ideas.
If you have any skills or expertise, we will go through the ways that you can use generate a passive income. Part 6 brought the number of passive income ideas to 39. In today’s part we will continue from there. Without wasting any more time, let us dive straight into it.
Idea #40. Write a Newsletter (Monetized via Substack or Ads).
One of the ways that you can make money with your skills and expertise is through writing newsletters. If you are a good writer, this passive income ideas is for you. You can use your writing or journalistic skills to write newsletters on platforms like substack and earn with it. Substack creates opportunities for writers to monetize their content. It is a big platform whereby many people go to read and consume information. Hence the audience is already there.
Another way that you can make money with your newsletter other than Substack is through ad revenue. You can publish your newsletter on your independent platform and play ads. You let the advertisers play/display their ads on your platform especially on your newsletter. For these ads plays/impressions, the advertisers will pay you for that.
Idea #41. White-Label Courses or Ebooks.
Another great passive income idea that you can use to make money with is by writing white-label courses or ebooks. For these ones, you license to people and other users on the internet. The people can just rent our these courses or ebooks to read. This can create an everlasting income for you that you do not need to be there in person at all time.
Idea #42. Create a Niche Membership Site.
Another great passive income idea that you can make even millions with is a niche membership website. This is a website whereby they pay you to be able to become members and hence get access to the content. The secret with these kinds of businesses is in the numbers. Its a game of numbers and not quantity. What does this mean? This means that your target is to have as many people on membership as possible. Its not about charging the highest quantity per person. If you charge a lot of money per person, you will get a few members which does not result into a lot of money. However, if you charge a reasonably low amount per person, you will get way so many more members. When you do the math, you realize that you end up making way more money.
If you are wondering what is it that you can make that people would be willing to pay for, then you haven’t thought through. There are so many things you can do that would get people to pay to be members. One of the most common fields that can get you a lot of people willing to pay for membership is education. There are so many people in this world who want to learn all kinds of things. If you can be able to get yourself in-front of these people then you can make a lot of money.
Idea #43. Publish on Medium (Partner Program).
One thing that most medium users do not know is that medium has a paid version. This is whereby people pay to read the articles. What most people are used to is articles that are free for everyone to read. Because of this overlook, most people do not know that they can make money with medium. Yes medium has opportunities for you to earn passive income with your content.
Just write great content that people would be willing to pay to read. Once you write such a great article, publish it on medium. Remember to mark it as premium meaning that people will have to pay to read it. If the article is good, medium will promote it to readers and they will pay to read it. From these payments, medium will pay you for your content.
Idea #44. Licensing Your Expertise.
You can also create a passive income that brings you money by licensing your expertise. Create templates, frameworks or guides for professionals. The professionals will pay you to use your templates or your frameworks. There are so many things that you can create and license to people allover the internet. For example, when it comes to servers and hosting there are an ocean of things you can create.
I will just give you one example, the developers of cpanel make millions of dollars from charging people to use their software. They even charge monthly for website owners to use their control panel. Design once and keep earning even for years later.
Conclusion.
Now you know how you can use your Knowledge & Expertise for Passive Income Ideas. This marks the end of the 7th part of this series about passive income ideas. This 7th part brings the passive income ideas to 44. Come back again tomorrow for the 8th part of this multipart series. In the 8th part, we will talk about E-commerce (Truly Passive or Semi-Passive Models). So do not miss out. Come back again tomorrow to learn how you can earn passively with E-commerce.
