Make a Passive Income While Keeping Up Your Current Job

There are so many ways to make an passive income online

Ranging from the simple to the most complicated ones

People are setting up businesses in almost every field

Make a Passive Income

So having a regular nine-to-five job doesn't mean that you can’t get involved in the action

There are many options available online to make a passive income while retaining your day to day job

Here's our guide on how to make a passive income while keeping up your current job

Construct a Plan

Give yourself some time to plan your options and your ideas to completion before you start anything

This will give you a broad understanding of what you need to do to make your extra cash, and how you will have to go about it to make it a success

Reach out to other people in the same situation and have a look at their business model

Figure out what you would like to incorporate into yours and write a full detailed business plan

There are many helpful videos on YouTube, depending on which kind of business you want to go into

Take some time to watch them and learn about aspects of the online commerce and business world that you otherwise might have overlooked

Learn about what you want to do

Be detailed and honest with yourself about what you can already do and what you might need to learn

There are aspects of the online world that many entrepreneurs have to study before they jump right in

A great example is learning about SEO marketing – will you need to use it?

How would it suit the passive income idea that you have?

There are many courses online for free if you want to learn more click here for more information

Create a brand for yourself

Brand yourself, create social media sites and a website if you need to

If you are working through another site, then make sure you have branded images complete with a logo to ensure customers know who you are and what you are doing

Create business cards that feature your logo and your personal information

Remember to leave an email address so that they can contact you with any issues

Business cards will help you to come across as professional and trustworthy

We have access to a great free-to-use business card site here.

Find your niche

Here you look for your niche where you can choose something that you enjoy and that you are passionate about

Try to find a reason for doing what you are doing besides making the extra money

For example, if you are drop shipping, perhaps select a product that you have a personal interest in

This will come across in your marketing and consumers will be more likely to choose your business as their first point of call

Define your Audience

Consider your audience and construct your idea firmly around them

Ask what they want and need from you

If you are creating an app or selling stock images, it might be that you are looking at a wide target audience.

Try to find out who is visiting your site and how they use it

It may be that you have to market yourself in several fields

For example, if you are selling stock images you will have to first find the photographers who are willing to join your site

This is one broad audience. Secondly, once you have a gallery of images, you will need to start looking at who might benefit from targeted advertising

Perhaps marketing firms and bloggers would be a great point of call

Remember this is supposed to be a passive income

You want the money to be rolling in, but do not forget to put the hard work in the start and set up as this is what matters most

Once you have an audience, you can pay less attention to the online business and more to your day job

brent Erickson

Brent Erickson is a freelance writer who loves to write

As cliché as that seems, he writes for the sheer thrill of it

He has a professional career in sales

Movies and music are his hobbies

Michael launched Wealth of Geeks to make personal finance fun. He has worked in personal finance for over 20 years, helping families reduce taxes, increase their income, and save for retirement. Michael is passionate about personal finance, side hustles, and all things geeky.