Making passive income is a dream for many people. Unfortunately, it stays just that, a dream. Why? Because they don’t know how to get started! They think that to make money passively, they need to invest a lot of money upfront. That is not the case! In this post, I am going to show you how to make your first $10 per day passively.
First, we’re going to go over the steps of how to make passive income and then we’ll get into different methods.
Step 1: Understand What Passive Income Is And How It Works
The first step to making passive income is understanding what it is and how it works. Passive income is income that you earn without having to put in active work. That means you can earn money while you sleep!
There are a few different ways to make passive income, but the most common way is through investing. When you invest, you are using your money to purchase something that will generate income for you. For example, you might purchase a rental property. The rent that you receive from your tenants is passive income.
Another way to earn passive income is by spending your time building something that can generate income for you. For example, you might create a course or write an eBook. Once you have created these materials, you can sell them over and over again without having to put in any additional work.
Lastly, if you’re a creative person, you can earn passive income through royalties. This would be the same as if you created a course or an eBook, but instead of selling it yourself, you license it out to others who can then sell it and pay you royalties.
One example would be creating an Ebook and selling it on Amazon KDP. You would earn a commission every time someone buys your book.
Step 2: Choose an appropriate stream of passive income
Now that you understand what passive income is and how it works, the next step is to choose an appropriate stream of passive income for yourself. This will be based on your skills, interests, and goals.
Later in this blog post, we will go over different methods of how you can make your first $10 per day passively. But for now, let’s just focus on choosing the right stream of passive income for you.
You also have to consider how much money you have and how much time you have.
Step 3: Monitor your progress and make necessary adjustments
Building enough passive income to make $10 per day is not going to be easy. It will take time, effort, and dedication. However, it is not impossible.
The key is to monitor your progress and make necessary adjustments along the way. Another key is to build up a little bit at a time. You have to set a goal of 10 cents per day before you can make $1 per day.
Step 4: Celebrate Your Success Along The Way
Last but not least, celebrate your success along the way. This is a marathon, not a sprint. It’s going to take time, but eventually, you will get there. So, enjoy the journey and be proud of each and every accomplishment!
So now we went over the steps you should take to make passive income. The next section will go over some methods on how you can make your first $10 per day passively.
These Different Methods Include:
- Blogging
- YouTube
- Courses
- Stocks
- Amazon KDP
- Print On Demand
Now that we went over the different methods, let’s dive into each one individually and how you can make $10 per day with each one.
Blogging
Blogging is a great side hustle, after all, it’s my favorite one. As we mentioned above, making $10 per day will be a marathon and not a sprint. This is especially true with blogging.
The main thing you need to focus on when blogging is creating helpful and informative content. You also want to make sure that your blog is visually appealing. People are more likely to read your blog if it looks nice.
Once you have a decent amount of traffic, you can start monetizing your blog with affiliate links, ads, and sponsored content. These are all great ways to make money with your blog.
We’re going to take a look at how to make $10 per day on a blog through ads.
How To Make $10 Per Day Blogging
This is pretty simple. The first thing you want to do is focus on building traffic. Traffic takes time, so you need to be patient.
Once you have a decent amount of traffic, you can start monetizing your blog with ads. There are a few different ways to do this. The most common way is through Google Adsense, but you want to choose a more premium ad network like Mediavine or AdThrive.
The reason you want to choose a premium ad network is that they pay more per visit.
Blog traffic gets monetized by a metric called EPMV. This is the amount of money you make per 1000 visits to your site. The metrics could also be called RPM, which stands for revenue per 1000 visits.
To make $10 per day on a blog, you would have to consider your EPMV. In this example, we’re going to go with $20. If you make $20 EPMV, that means you make $20 for every 1000 visits.
To make $10 per day, you would need 500 visits. This might seem like a lot, but it’s doable if you focus on creating quality content and promoting your blog.
How Do You Get a High EPMV Or RPM?
It’s not guaranteed that bloggers will get a $20 EPMV or RPM. The reason being is that there are a lot of factors that go into it.
A high amount of Ad revenue per page view is usually the case when the site is in a niche that in general has a lot of money involved. For example, Finance or Business.
So it’s best to do your research before you start a blog, look at the most successful blogs in your niche and analyze why they are doing well. This will give you a better chance of success.
YouTube
YouTube is a great platform to make money on. You can make passive income through YouTube in a few different ways.
The most common way is through ads, but you can also make money through affiliate links, sponsorships, and product placements.
Let’s take a look at how to make $10 per day with YouTube through ads.
Same As Blogging
So on YouTube, they have a metric called CPM, which is the same concept as EPMV/RPM. The only difference is that on Youtube, it’s called cost per 1000 views.
So, to see how you can make $10 per day, we need to look at an example CPM. For this example, we’re going to use $10.
To make $10 per day on YouTube, you would need 1000 views. With consistency and quality content, this is achievable.
Courses
Courses are a great way to make money online. You can create a course on pretty much anything and there’s a good chance people will be willing to pay for it.
The great thing about courses is that you can passive income from them. Once you create the course, you can sell it over and over again.
The downside to courses is that they can be a lot of work. You need to put in the time and effort to create a high-quality course.
You need methods to get traffic to your course which generally means paid traffic.
To make $10 per day with courses, you would have to sell one $100 course every 10 days. This is very attainable if you take the time to build your audience and create a quality course.
Dividends
Dividends are a great way to make money. They are payments made by a company to its shareholders.
The nice thing about dividends is that you don’t have to do much work to receive them. You just need to invest your money in the right stocks and wait for the payments to come in.
To make $10 per day. If your dividend percentage is 5% and you have to invest $73,000.00 to make $10 per day.
This is a lot of money to invest, but it’s doable if you have the right strategy.
If you want to get started on your investing journey, click this link and get a free stock! I will also earn a free stock as well! Keep in mind, that the stock market can go up and down, so please invest responsibly and seek professional advice if you’re unsure about anything.
Amazon KDP
Amazon KDP is a great way to make money online. It’s a platform where you can publish your books and sell them on Amazon.
The nice thing about Amazon KDP is that you can make a lot of money if you have a bestseller. You can also make passive income as people will continue to buy your book even after you stop promoting it.
Since the royalties are 60% on Kindle books, you would need to sell one book per day at $16.67 to make $10 per day.
Print On Demand
Printing on demand is a great way to make money online. Many platforms allow you to create and sell your products.
The great thing about print on demand is that you don’t have to worry about inventory or shipping. The platform takes care of all of that for you.
The profit margins are usually lower than other methods on this list, but it’s a great way to get started making money online.
If you build up enough designs, making $10 per day will come very easily.
Conclusion
Now it’s up to you to decide what method you want to use to make $10 per day online.
There are many methods out there and it really depends on what you’re interested in and willing to put in the work for.
If this blog post helped you out, please consider sharing it with your friends and family!
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