Most people believe that the only way to succeed financially is to work eight hours a day (or sometimes more than that) for the rest of their lives. But did you know that you can become rich without having to work yourself to death? All you need to do is to try any of the best small business ideas presented below that can guarantee you passive income now.
1. Resell products online
You don’t need products of your own to start an online business. You can buy products manufactured by other companies and resell them at higher yet reasonable prices either via a website that you dedicated exclusively for your whole endeavour or an online marketplace like Amazon or eBay. Aim for products that don’t have much competition at the moment but have a cult following amongst enthusiasts, such as bobblehead dolls or mini four-wheel drive model racecars.
2. Sell your photos to stock image websites
Photography may be your passion, but passion alone won’t pay the bills. You may thus want to turn your passion into profit by building a sizable portfolio of photos of different subjects and sell some of those to a stock image website, like Shutterstock or Getty Images. Just make sure that every picture you sell has a story to tell and can instantly grab the attention of whoever sees it.
Who knows, any one of your hundreds of photos that you sold to some stock image website could be the headlining image of a viral blog post or even become the next hilarious meme to hit the Internet.
3. Build a mobile app
Whether to make someone’s life easier or as a source of entertainment, mobile apps are a staple in every smartphone or tablet ever made. But using a mobile app is one thing, and building one is another. If you want to make fast bucks, you can create a mobile app for just about anything: a white noise generator, gas station finder, beer cataloguing system, first-person shooter game, or some other concept that’s useful. You’ll want your app to be available for both Android and iOS so that you can cater to more than a single set of mobile device users.
However, building a mobile app all by yourself may require you to learn programming languages such as Java, HTML, or Objective-C. If you aren’t interested in programming but would want to materialize your mobile app idea, you can hire a developer to build it for you instead. Just make sure that you pay them fairly as they’re integral in helping you generate passive income.
4. Write an e-book
If you love to write, you can consider putting out an e-book. You only need to look for a writing niche that you want to pursue. For instance, if you love cooking Italian cuisine, you can write a cookbook about it and feature some recipes that no other publication had featured at length before. Or if you’re into the Lord of the Rings or Game of Thrones, you can try coming up with a fantasy trilogy influenced by those two popular series as long as you don’t blatantly copy any of their major elements.
You can then ask the help of a professional editor to check your draft and a graphic designer to draw the digital cover of your e-book. The best thing about writing an e-book is that you can do it whenever you feel like it as you don’t have any deadlines to meet given that it’s an entirely creative pursuit.
5. Make customized shirts
If you’ve got a knack for drawing, you can create customized designs catering to a specific demographic and get them printed on shirts which you can then sell online. Horror movie fans are an excellent example of a group of people who may want customized shirts. You can re-imagine iconic horror movie characters as pint-sized kids running around in the sun or recreate a memorable scene from a horror movie and get that design printed on a shirt. Just remember that your shirts should be of good quality and not shrink when laundered and dried to gain loyal customers.
Passively earning an income doesn’t mean waiting for money to fall into your lap and doing nothing. You first have to do your research, examine your skills, secure enough capital, and read some journalreview.org coaching tips or seek advice from seasoned entrepreneurs before you can earn passive income from of the best small business ideas listed above. But once you’ve done all of these prerequisite steps, you don’t have to put that much time and effort into making money, which is what everyone should aim for in life.