You’ve probably heard that starting a side hustle is your best way to earn extra income, which can allow you to pursue your passions, travel the world, or just simply pay the bills. Side hustles can take many forms, ranging in time commitment and revenue earning potential.
What you may not know is that a side hustle can be a great source of passive income.
Traditional work allows you to get paid in exchange for work. However, passive income allows you to work once and then continually earn money without putting in any additional time or effort.
Check out three side hustles that generate passive income, and who knows, you might even crack the nut on how to make money while you’re sleeping!
Sell Digital Goods:
Whether you’re a photographer, designer, or have experience creating blog templates, there’s an online marketplace for you to sell your digital goods. Simply upload your digital assets and earn income each month from your work without lifting a finger. Sell your photos on stock photography sites, such as Shutterstock or Pond5. Upload your designs to platforms like Society6 or Spoonflower, which allows customers to purchase your designs on a variety of home goods. You can even create blog or website templates to sell on sites like Themeforest.
Write An E-Book:
Have a passion for writing? Take your skills to the next level by publishing your own e-book. While it takes more upfront work, you can earn month over month once you hit publish. Even better, self-publishing is easier today than ever before through online platforms like Amazon’s Kindle Direct Publishing. Publish your e-book for free and set the price of your book to maximize your royalties.
Teach a Skillshare Class:
Share your skills on any topic, from calligraphy to coding, by creating an online class. Teachers on Skillshare earn royalties based on student engagement in their classes, meaning that once their class is live, they earn income every time a student watches their class. Publish a class today and earn passive income indefinitely. On average, Skillshare teachers earn $200 in their first month, with top teachers earning up to $3,000!
‘Set it (your side hustle) and forget it’. With just a bit of upfront work, you can start earning passive income today. Start your side hustle on Skillshare by joining our 30-day Challenge designed to help you create your first class!