There are many ways to earn passive income. You shouldn’t make the mistake of assuming that earning extra money on the side with little effort is just a dream. Many people have successfully created passive income streams that provide them with consistent earnings. While you won’t likely get rich this way (some do, but those are very rare cases), you should understand that if you’re willing to put forth the effort necessary to establish a passive income stream, you can reap the rewards.
One way to do so is by starting a blog. A blog that attracts a strong readership can easily make you money through ads (and other means this guide will touch on).
You simply need to make sure you’re keeping the following tips in mind if you want to start a blog that has a chance of earning passive income.
Choose the Right Topic
You may have already realized that earning money through a blog isn’t entirely passive. Unless you can hire a freelancer to write your blog entries for you, you’ll have to write entries yourself—and often.
That’s an important reality you must accept if you want to earn passive income. Despite its name, passive income is rarely entirely “passive.” All passive income streams require some effort to set up. Some require continued effort to maintain. However, if you genuinely enjoy what you’re writing about, it won’t feel like work.
Similarly, your blog might be a way of monetizing a task you need to complete regardless. For example, passive income guru Pat Flynn earned money through a blog he initially started solely to help him study for a certification exam. He felt he’d study more effectively if he blogged about his habits and strategies.
What he didn’t expect was that his blog would become popular enough to attract numerous readers. He then used ads to monetized his blog, allowing him to make extra money off of something he was going to work on anyway.
You could choose a topic for your blog that lets you accomplish two tasks, as Flynn did. You might even have enough interest in and knowledge of a topic that would be ideal for a blog. You won’t feel like you’re working for your money if you’re earning it by writing about one of your passions.
You just need to choose a topic that offers value to readers. Flynn’s blog attracted readers who were studying for the same exam. A blog about your personal life won’t attract enough readers to make you money. Your blog must have a practical purpose.
Don’t Rely Solely on Ads
Hosting ads is one of the most popular ways to make money from a blog because it’s one of the most effective. However, you’re limiting yourself if you’re only using ads to earn passive income via blogging.
When Flynn realized he had a strong readership, he started hosting ads to make money from his blog, but he didn’t stop there. He also self-published an eBook offering additional valuable content. He sold it online and used his blog to promote it.
Consider this strategy once you have a decent readership. You may offer an eBook, an online course, or any other piece of premium content you think your readers would be willing to pay for.
Make Sure the Blog Is Readable
You likely already know you can only make money via a blog if the blog itself is well-written. If you’re not a strong writer, you’ll need to hire someone else to write your blog entries, or you’ll have to choose a different passive income strategy.
However, writing strong blog posts shouldn’t be your only priority when blogging. You must consider other key factors. For example, research indicates that most online browsing occurs via mobile devices. That means you don’t want your blog entries to consist of large chunks of text. Reading these types of entries on a small screen is difficult. Instead, break up your entries to make them “scannable.”
You need to make sure your site loads quickly as well. Research also shows that many people will leave a site that takes more than 3 seconds to load. Your blog won’t do you any good if people aren’t reading it due to technical problems.
All that said, blogging about a topic you enjoy (or a topic you need to learn about anyway) is a smart way to earn passive income. These tips will boost your odds of success.