Most of us are always interested in knowing how to generate a passive income from online activities. We all would love to break the cycle of our mundane day jobs and become self-employed from the comfort of our homes. While we are at it, we also want to pursue these activities without spending any money to learn how to do these activities.
Today, we will show you exactly how you do that. Here are the 11 best ways to generate a side income that won’t require making an initial cash investment.
Make a Living as a Virtual Assistant
If you possess a flair for planning and organizing, you should try becoming a virtual assistant (VA). It is an easy way to generate supplemental income online. This job will entail performing numerous tasks like responding to emails, answering phone calls on behalf of an organization, or managing social media accounts.
With the growing trend of sole-ownership enterprises, VAs are also getting increasingly in demand. You may kick-start your career by looking for work on platforms such as Fiver or Upwork. VAs have an average hourly wage of about $20, according to Indeed.com.
You can up your level by building a personal brand and promoting it to startups and entrepreneurs or anyone else who may require the services of a VA.
Become an Online Researcher
Were you an ace researcher during your time as a student? Does finding specific information on Google come as second nature to you? If yes, then you can make tons of money as an online researcher.
A lot of organizations across industries use the services of freelance researchers to help them make various reports and analyses. They then use that information, either internally or with their clients, to make sound business decisions. Similar to VA, you can also find online research jobs on various freelancing portals. So you are good to go as long as you have a computer and reliable internet access. Get dependable speed with Windstream Kinetic internet.
Video and Audio Transcription
Audio and video transcription services have been around for the past two decades or so. Although now there are many Artificial Intelligence (AI) applications that perform speech-to-text transcription functions, they are still no match for human intelligence. So here lies another opportunity for you to generate a decent side income.
Just like the first two entries in this blog, there is plenty of transcription work available on freelance portals. Most organizations will let you select assignments as per your preference and will usually let you set your working hours. All you need is a computer with working speakers and internet access to kick-start your career as a transcriptionist.
To be a good transcriptionist, you need to type fast as it takes a lot of time to transcribe even short 5 minute audio clips. You might want to practice by transcribing YouTube videos before you pick up any paid work.
Create a Patreon Account
Patreon is a member’s only digital platform intended to generate income for artists and other audio/visual content creators. Fans can become patrons on Patreon by paying a subscription fee. Patreon is an ideal platform for anyone who creates digital content, like podcasts, videos, and music. If you have a fan following, you can make a Patreon account and create special content that will only be accessible to your most dedicated fans i.e. those fans who are willing to fork out money to consume your content, as opposed to those who follow you for free on platforms like Facebook and YouTube.
To find success on Patreon, you will have to offer unique content that will keep your patrons engaged. If they find your content worth consuming, they will reward you with their support. You can sign up for free on Patreon. You will be charged a small percentage fee once your account starts generating revenue.