For students, having passive income sources will be a beautiful thing. Not only will it make students enjoy their schooling time, it will also help them meet obligations which ordinarily won't be possible with their primary income source. Another benefit is the skill acquisition this encourages as it also prepares students for future responsibilities and independence.
Now, what passive income ideas can be suitable for students? Let's not that students can be very busy with studies, not to forget the fact that their studies require full undivided attention and concentration for optimum performance. With thes in mind, students have to be careful to choose passive income activities that will not have negative effects on their academic performance.
Now, let's look at some practicable passive income ideas for students.
1. Dropservicing and Dropshipping
People are conversant with dropshipping, but dropservicing has same concept. Simply put, you bridge the gap between product makers or service owners and the final buyers or consumers. To make this intermediation possible and practical, such students need to identify suitable channels to introduce the products and services. For example, students with large social media following will take advantage of their media followers to introduce those products and services for sale. Useful services can include CV writing services, project and thesis writing services, project management online and more. Products could be clothings etc from AliExpress, Banggood, and others. The students intermediating will set the consumer final price and remit the cost price only to the original service or product owners.
2. Affiliate Marketing
Similar to drop shipping, affiliate marketers earn preset commission each time there's a sale. This commission is remitted by the original product owners, unlike in dropshipping or dropservicing whereby the intermediary can set final prices. Also in this case, useful channels to take advantage of include social media following, websites, blogs, email lists, WhatsApp groups etc.
3. Blogging
Blogs are content websites on specific niches that attract numerous readers. Students can start blogs in areas that can complement their studies. This could include career related blogs, CV writing, project and thesis writing, teaching career, student life, etc. Such blogs when visited we'll, can earn good income from adverts from Google AdSense, direct advertising, drop shipping, affiliate marketing, information marketing, ebooks etc
4. Vlogging
Just like blogging, blogging involves creating and uploading engaging videos that will drive traffic. Useful channels include YouTube, tiktok and others. Such videos will earn good money if there is enough views, from for example Google AdSense, and also from brand partnership. Suitable niches must be those that complement the academic activities of the students. It could even cover clothing and grooming on campus etc
4. Social media influencers
Some students have large social media followers. Such huge following is money! Apart from using the media to promote items 1 to 3 above for example, brands would partner quickly for large reach and adverts. Some students also know how to build huge following and selling the handle. Many ways to make money from this.
5. Information Product Marketing
People flock online these days for information on any topic. Are you knowledgeable on anything? CV writing? Project and thesis writing? Better studying? Marriage? Dressing? Health? Working out or body building? Anything with useful information. In this area, you can create an e-book or blueprint book and you sell. One beautiful thing about information products marketing is that you can create the material only once and you just keep reselling to more and more people. You make lots of money.
6. Freelancing
Put your skills to work as a side gig. But do not let this interfere with your studies. Beauty 9s that you're in full control before you commit to a project. Contracts include social media influencer jobs, programming, web design etc. Try sites like fiverr and more.
7.Are you a student? Are there other ways you make passive income legally? Online trading? Please share in the comment section.
ATTENTION: AVOID GAMBLING. It will ruin your career!
To be continued.
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