#1 Make money as an Inventor
If you have ideas for products that fill real demand in the market, then you could make money out of your ideas. Basically, you pitch your idea before interested parties and if they find it a lucrative venture, you could give them the rights to use your licensed invention in their businesses and in return, you get to earn some commission for every product sold.
#2 Make Money Outsourcing Business Services
Thanks to systematization, outsourcing and automation, here is a smart passive income opportunity that if well executed, can earn you loads of money. Just think of a service business where majority of the work can be done overseas such as web design, SEO, graphic design, marketing among others. In short, anything that can be done on odesk fits the bill. Now create a website, market it extensively via Google and direct all the leads to a single part time project manager who then liaises with your outsourced workers. That's it. The main challenge with this idea is finding the right people to work for you and as you get started, expect to commit costly mistakes that will obviously brush your client in the wrong way. Otherwise, once you have a clear understanding of this business, you will always be the guy with the last laugh whenever you visit your bank.
#3 Buying an online Business.
If you have some serious capital and no time to start developing your own business from scratch, an easier and faster way is to purchase an existing online business with a proven track record. If you are keen enough, you could land a lucrative business from a site like Flippa that will definitely earn you money on auto pilot mode. The downside to this strategy is that there are many unscrupulous dealers waiting to cash in from unsuspecting clients and this therefore calls for serious research and testing before parting with your hard earned cash.
#4 Earn Money from Mobile Apps
Thanks to the smartphone revolution, you can now earn some passive income developing mobile apps. There are three ways to earn money with this method. You can create an app and sell it to customers or you can create an app and offer it free to the users then charge them a fee if they for an upgrade of the app which obviously offers more and better features. The other method entails coming up with a free app that you monetize via advertisements. All in all the answer to breaking bank here lies in the numbers. Therefore, you will have to come up with a very brilliant application and then market it in all the relevant quarters and wait for harvest day.
As stated in the beginning of this article, earning passive income is not an issue. Anyone can earn a few dollars online but to be consistent can be a hard mountain to climb. It requires determination a never give up mentality and patience, loads of patience.