A very common perception about online businesses is that they are generally tough to start and maintain. While blogs and building a website may take quite a bit of effort and time to grow into a substantial income source, there are simple ways of earning a residual income as well. While the returns may not be as high as a successful blog or a website has to offer, but given the minimal effort one has to put in, this is a great strategy to earn extra income – especially for people with not much time to devote. Here are some of the simple ideas that can help generate passive income:
a. Filling up surveys: There are several websites which offer money in return for filled up surveys. Organizations that require mass feedback conduct surveys through these sites, and the survey sites collects information from its registered user and pays them for properly filled up survey sheets. Surveys may not be a source of great income, but it hardly takes more than 10 minutes to fill a survey sheet. However, one must only sign up with trusted and reputed survey providers in order to ensure proper payments.
b.Freelance Translation: For ones who are gifted with proficiency of more than a couple of languages, there are several translation jobs available online. These translation jobs are high paying, depending on the content. The most popular and high paying jobs are for translating to/from languages like French, German, Chinese and Russian. In this regard, it is a good idea to do a degree or a diploma course on one of such languages. This not only helps enhancing your proficiency level but also improves your chances of being hired by clients looking for authentic translators.
c. Domain reselling: The idea behind domain reselling is simple: based on your research on the Internet, you select certain keywords, which you think could be most sought-after domains in the near future. The next step is to buy from an agency selling such domains. Once the domain is under your ownership, you have to advertise it in proper channels, and if your researched keywords have the merit, buyers could be willing to pay a lot more than you invested to obtain the domain ownership. However, the research is extremely important since not all your invested domains are likely to find suitable buyers.
d. Transcribing: In recent times, there has been an increasing trend of people outsourcing the work of transcribing recorded audio files. If you are proficient in a few languages, it is one of the simple ways of earning a residual income – you need to listen to every word of the audio file, type it down and deliver the written transcript for an agreed sum.