This transcript was generated from the episode audio and may contain minor errors.
[Music]
What are the best passive income opportunities? The best current passive income opportunities, we should say. Welcome to Side Hustle School in this episode. We're gonna explore the best passive income projects for side hustlers right now. And I wanna say thank you for tuning in.
This is all about creative practical ways to boost your income without giving up your day job by using a skill you already have without going into debt, without taking a big risk, all of those things. And whether you were just starting out or whether you've been doing this for a while, my goal every day is to give you some inspiration and tools to succeed in a short action-packed episode. So as noted, today's question comes from a listener fascinated by the idea of making passive income to supplement their other earnings. I'm not sure if it's other earnings from a day job or another small business, whatever it is. Let's talk about some options.
I'm gonna give you a few different ideas, things that are working now, things that we hear from our listeners and our global community, as well as maybe a next step for what you might do to take action. 'Cause I always want you to take action on your ideas. That is probably the most important thing. Get inspired, do something about it. What are the best passive income opportunities?
That's today's episode. Listener question and my answer coming up after the quick break. [Music]
Hey there, I'm fascinated by the idea of creating passive income streams to supplement my side hustle earnings. I've heard a lot about projects like creating online courses, writing books or building niche websites even. But I'm not sure which ones have the most potential for long-term success.
In your experience, what are the best passive income projects for side hustlers to pursue? What factors should I consider when choosing a project? And how can I validate my idea before investing a lot of time and resources into it? [Music]
All right, well, we have had a lot of case studies and stories over the years. I think we're at 2,750 plus episodes now.
So many of the archival episodes are still quite relevant. Honestly, even some of the stuff that we featured, you're one of the podcast, people are still doing it in lots of different ways. I try to keep things as evergreen as possible while also talking about new things that come up along the way. So I would just say, first of all, check out the archives. I also had a book called "100 Side Hustles" that was based on many of the case studies that we featured here.
Again, 100 ideas there. That's a free or at least a low-cost resource that you can access lots of ideas. But when I think of passive income today, I think, well, online courses, online education of all kinds, which we talk about often, usually at least once a week, just because there's so much there. Courses can be sold on platforms like Udemy, Teachable, Thinkific, Kajabi, and so on. You've got expertise in something.
I always say that there's something you know about that other people would want to pay money for. You just have to figure out what that is and then get it in a format that makes sense and is easy to access. So online education of all kinds, could be an ebook, could also be a niche website, a niche niche website. We've had a lot of those as well. Websites that are generating income through ads, affiliate marketing, or selling products.
Sites can be monetized using Google AdSense, Amazon Associates, or direct ad sales. So that requires content creation and SEO, but once it's established, it can generate passive income with less frequent updates. You can also use tools like Google Trends. Google Trends, keyword research, market analysis to identify popular topics and gaps in the market. That then could lead to making one of those websites or making a product, an online course, or something else.
So lots of directions there to go from. We could talk about others, but I try to keep things kind of on track and short here. I think overall you want to diversify your income streams. Don't just rely on a single one of them, especially if it's something that might not be as evergreen or relevant in the longterm. And of course, focus on building and nurturing your audience.
If you start with that, that gets you a long way. Focus on projects that align with your skills and let us know how it goes. And keep trying stuff. Don't be afraid to keep experimenting. That's always the key.
Listeners, if you have a question, sidehustleschool.com/questions. Thank you for tuning in today. I'm excited to bring you much more in the second half of the year. We'll continue to have a new episode every day, seven days a week, always free. My name's Chris Guillebeau.
This is Side Hustle School. [Music]
From the Onward Project.
