23 Ways Entrepreneurs are Making Passive Income a Reality

Unlocking the secrets to earning passive income, we gathered insights from CEOs and founders, among other experts, who have turned their ventures into revenue streams. From discovering domain-investing profits to selling photographic wall art online, this article compiles 23 unique and successful strategies for generating passive income.

Discover Domain-Investing Profits

Last year, I accidentally stumbled upon domain investing. It's a venture where you purchase domain names and resell them for a profit. Initially, it sounded too good to be true, so I decided to give it a shot. I bought 12 domain names, each costing me around $12, and listed them for sale at $495 each on a marketplace I discovered called dan.com (now a part of GoDaddy).

To my surprise, on April 30, 2024, I sold my first domain for $495 (around eight months after purchase), and two months later, I sold another one for the same price. After accounting for marketplace commissions, my total profit from those two sales was $841.50. My initial investment for all 12 domains was just $144.

Since then, I've dived deeper into domain investing and have come across communities on Twitter where individuals own portfolios of 5,000+ domain names and earn as much as $100,000 per month!

Dhiren Mulani, SEO Specialist, Earningify.com

Diversify Passive Income Streams

While my primary income comes from consulting and running my digital marketing agency, I also earn passive income through several innovative methods.

Online courses and workshops are a significant source of my passive income. I develop courses on subjects like email marketing, FB ads, and SEO and host them on my website. People can enroll and pay for them directly on my site anytime, creating a revenue stream that requires minimal ongoing effort.

Another key revenue stream is my work as a public speaker. I'm frequently invited to deliver talks on business growth and personal development at offices, colleges, and various organizations. These engagements allow me to share my expertise and continue to generate income long after the events, thanks to the lasting impact and connections made.

I also invest my money to generate more income through real estate and stocks. By owning rental properties, I benefit from a steady stream of rental income, managed effortlessly by property professionals. In the stock market, I focus on dividend-paying stocks that provide consistent returns, turning my investments into a reliable source of passive income. This combination of real estate and stock investments enhances my wealth and adds a robust layer of financial security.

These passive income streams contribute to a substantial revenue flow, ranging from mid-five to six figures annually, allowing me to concentrate on new ventures while enjoying the fruits of my past efforts.

Toccara Karizma, CEO, Karizma Marketing

Invest Public Speaking Income in Index Funds

Public speaking and tech consulting have been consistent and powerful sources of supplemental income for me over the last 12 years. I started investing 100% of that income into my individual brokerage account with index funds.

This has helped me achieve complete financial independence, as my investments now outperform my 9-5 salary. The passive income I've generated through investing is now about $750k.

Upasna Gautam, Tech Leader at CNN, Investor, Board Chair, and Journalist

Earn With Amazon Affiliate Marketing

I've found a great way to earn passive income through the Amazon Services LLC Associates Program. Essentially, this program lets me earn fees by linking to Amazon and its affiliated sites. My journey began with a passion for 3D printing and woodworking. I started by sharing my favorite products and experiences through content with affiliate links.

With my hands-on experience in building, testing, and upgrading 3D printers—from small hobbyist models to custom setups—I've developed a keen eye for what works. On my site, I share detailed reviews and insights on 3D printers, making it easier for people to find exactly what they need. Thanks to this approach, I've been able to earn anywhere from a few hundred to several thousand dollars a month, depending on site traffic and product sales.

Paul Chow, CTO and Co-Founder, 3DGearZone

Navigate Day Trading for Income

Day trading is the practice of buying and selling securities on the same trading day with the aim of exploiting any short-term movements in the market. In the summer of 2006, I entered the world of day trading. Buoyed by the idea of creating an alternative means of making money without having to work a traditional job, I rolled up my sleeves and began learning the ropes.

It was not an easy road to follow. I had to devote countless hours to learning the lingo of daily movements, understanding the intricacies of technical analysis, and risk management. But the reward was the potential for a tidy income stream that could be generated passively and without having to work a typical nine-to-five job. Over the years, a combination of focused learning and practice enabled me to develop my own personalized trading strategy.

I don't want to give a false impression about day trading. It isn't some kind of "get-rich-quick" scheme. It requires discipline and consistent effort, and one has to know when to take a loss and cut one's overall risk.

I can't give specifics about how much I make, but I can say that over the years, my day trading income has ranged from a few hundred dollars a week to several thousand during especially active market periods. And of course, past performance is no guarantee of future results. The market has its ups and downs, and one is likely to take losses as well as potential gains.

Kevin Huffman, Day Trader | Finance Specialist | Owner, Kriminil Trading

Profit From Travel Photography

As a travel expert and photographer, making passive income from selling my travel photos has been a fantastic venture. I started by uploading my images to stock photography sites like Shutterstock, Adobe Stock, and Getty Images. Initially, I focused on capturing high-quality, unique shots from my travels, including everything from stunning landscapes to vibrant cityscapes. Each photo I upload is available for licensing, and every time someone downloads one, I earn a royalty.

Income can vary significantly based on factors like photo quality, demand, and the platform used. On average, I earn between $50 and $200 per month from stock photo sales, though it can spike depending on seasonal trends or the popularity of my photos. My best-selling images, especially those featuring unique destinations or popular themes, can earn as much as $20 per download.

To maximize earnings, I continuously update my portfolio with fresh content and ensure I use keywords and descriptions effectively to boost visibility. It's a great way to generate income while doing something I love, and it requires relatively little ongoing effort once the photos are uploaded.

Kevin Mercier, Founder, Travel Expert, KEVMRC TRAVEL

Generate Income With Room Rentals

Renting out a spare room has been a fantastic way to generate passive income. I started by assessing the room to ensure it was in top shape. This meant not only giving it a fresh coat of paint but also updating the furnishings to ensure they were modern and comfortable. I invested in good-quality bedding and decor to make the space appealing. I also addressed any maintenance issues, such as fixing minor leaks or updating lighting fixtures, to make the room more attractive to potential renters.

To find renters, I listed the room on Airbnb and Booking.com. Crafting a compelling listing was crucial here; I took high-quality photos that showcased the room's features and used natural light to highlight its best aspects. In the description, I highlighted what made the room special, such as proximity to local attractions or unique amenities. I researched similar listings in the area to set a competitive price. This involved looking at the rates for rooms with similar features and ensuring my pricing was attractive yet reflective of the room's value.

In terms of income, renting out the room has typically brought me between $800 and $1,500 per month. This range varies depending on factors like location, room quality, and local demand. During peak seasons or in high-demand areas, the income can exceed this range. Even with occasional fluctuations, the rental income provides a stable, passive stream of revenue that requires minimal ongoing maintenance once the initial setup is complete.

Matt Little, Founder & Managing Director, Festoon House

Create RV and Boat Storage Revenue

I generate passive income by renting out space on our property for RV and boat storage. Since many local HOAs restrict parking for recreational vehicles, we offer an alternative. We rent out three spaces at $150 per month each, providing an extra $5,000+ annually. This simple venture requires minimal oversight and offers a consistent, reliable source of passive income. It's a great way to utilize extra space!

Veronica Cockerham, Owner/Founder, Apple Blossom Gift Baskets

Monetize Niche Hobby Websites

I make passive income by building digital products around relatively obscure hobbies and then promoting these products through ranking a website about that hobby.

One example of this was a website about rock collecting and astronomy.

My digital product was a map of rockhounding locations (places where you can find rare rocks) in the USA.

The websites target very specific keywords with next-to-no volume (and by that, I mean that my article is the only article targeting that keyword on the internet).

This lack of competition means that I can write the articles very quickly using AI writing tools, which I then edit myself. I was able to write 570 articles in a month (in January) and then just left the site after that.

Here are my site's earnings (please bear in mind that the site took $458 to set up and has a monthly operational cost of $28):

Month 1 (January 2024): $0

Month 2: $0

Month 3: $0

Month 4: $40.65

Month 5: $237.50

Month 6: $698.97

Month 7: $1,448.35

So that's an overall profit of $1,771.48 for three weeks' work.

However, these types of websites typically sell for 35 times their monthly profit, so if I can just maintain my current revenue levels, then I could be able to sell the site for $50,000.

I have already been offered $70,000 for the site but turned it down because I believe that, given its current growth trajectory, it could well be worth more than double that in six months' time.

A lot of people fail with these types of "niche website" ventures, and I think a big reason for this is because they do not create their own products and instead rely on promoting other companies' products for tiny commissions.

This typically lengthens the breakeven point to around 12 months (compared to my 5 months), at which point many site owners have written off the project as a failure and close the site down.

James Oliver, Founder, Oliver.com

Publish Books for Credibility, Not Income

I can give you an example of a non-lucrative way to earn passive income: publishing books. I've written several books, but they only bring in a small amount each month. If all you're looking for is a return on your time, you're out of luck. However, I still love writing books and will continue to do so, in part because of the fulfillment I receive, but also because of the credibility I gain as a published author.

In my opinion, pure passive income is overrated. Find something you enjoy doing—and keep your day job.

Robert Carnes, Marketing Manager, GreenMellen

Invest in Dividend-Paying Stocks

One way I generate passive income is through investing in dividend-paying stocks. I started by researching companies with a strong history of paying dividends and a stable financial outlook. I began with a small amount of capital, gradually building a diversified portfolio across various sectors like technology, healthcare, and consumer goods.

I reinvest the dividends back into the portfolio, which allows the income to compound over time. This strategy not only provides a steady stream of passive income but also contributes to the growth of my investment portfolio. On average, this venture brings in a range of $200 to $500 per month, depending on market conditions and the performance of the companies I've invested in. This passive income is a great supplement to my active income and helps in building long-term financial stability.

Arslan Abdul Rehman, Digital Marketer & SEO Expert, Siznam.Co & LLC

Scale Consulting With Packaged Content

I've used consulting to generate passive income by offering specialized guidance in cloud backup and data protection. I initially got started by identifying companies that lacked proper backup systems or were struggling with GDPR compliance. After building a strong reputation through my company, I began offering consulting packages where clients pay for access to my expertise over a set period.

To make this passive, I developed pre-recorded webinars, documentation, and templates that clients could access on-demand, reducing the need for live sessions. This content can be repurposed and sold repeatedly, allowing me to scale my consulting without being directly involved every time.

Income from these consulting ventures has varied depending on the depth of service. For purely passive offerings, like online courses or packaged content, I've brought in anywhere from $10,000 to $15,000 per year. More personalized consulting can bring in significantly higher figures but requires active engagement.

Rob Stevenson, Founder, BackupLabs

Monetize Startup Stories Online

Apart from running my SEO agency, I run a startup media platform. We charge a small editorial fee for publishing startup stories.

The process is completely streamlined, so I don't have to get involved much. This venture brings in a decent amount of passive income every month.

We have a team of experienced writers and editors who handle all the content curation and publishing.

Startups simply submit their stories, and our team takes care of the rest. We have a clear set of guidelines that ensure consistency and quality. Once the content is published, we promote it on our social media channels and through email marketing.

This passive income stream has been a great addition to my business. It's low-risk and requires minimal maintenance. The income varies depending on the number of startups that submit stories each month, but it typically makes between $300 and $600 a month.

Himanshu Sharma, Co-Founder & Lead SEO Specialist, Accrue SERP

Teach Quality Control Through Online Courses

I realized that many businesses and individuals were eager to learn about quality control but didn't have access to the right resources or expertise. So, I decided to create online quality control courses that could be sold to a global audience. The idea came from my experience working with several international brands, where I saw firsthand how critical it was for companies to understand and implement strong quality control practices.

I started by breaking down my knowledge into comprehensive modules, covering everything from supplier verification to defect prevention strategies. We recorded these courses professionally and made them available on platforms like Udemy and other platforms. To keep the content accessible, I ensured that it was suitable for both beginners and seasoned professionals looking to refine their skills.

These courses have been a great way to generate passive income. On average, they bring in anywhere from $2,000 to $3,000 per month, depending on enrollment numbers and promotions. It's been rewarding to see how these courses not only provide us with additional revenue but also help spread the knowledge that's essential for maintaining high standards in the industry.

Habib Rkha, Engineer & Managing Director, QCADVISOR

License Proprietary Manufacturing Technologies

One of the ways we've created passive income is by licensing our proprietary manufacturing technologies and patents. Early on, we developed some unique processes for rapid prototyping that set us apart from competitors. Recognizing the value of these innovations, we decided to patent them.

Once the patents were secured, we started licensing the technology to other companies that were looking to improve their own manufacturing capabilities but didn't have the resources to develop these processes themselves.

Getting started with this venture involved a lot of groundwork, such as filing for patents, identifying potential licensees, and negotiating terms that ensured we retained control over our intellectual property while still benefiting from it financially. The upfront effort was significant, but the rewards have been worth it.

Depending on the specific licensing agreements, we've brought in anywhere from $5,000 to $8,000 per month in passive income. This steady stream of revenue has allowed us to reinvest in our core business while also exploring new growth opportunities.

Ronan Ye, Founder & Managing Director, 3ERP

Fund Projects With Hard-Money Loans

Hard-money loans. I lend money to real estate investors to fund residential fix-and-flip projects. This is mostly passive, as I work with the same real estate investors and have a set of legal documents that can be reused from project to project. I make an extra $5,000 to $10,000 per month doing this.

Zach Fischer, COO

Drive Sales With SEO and E-Commerce

I make passive income through affiliate marketing via my website. I started as an SEO expert ten years ago and got into e-commerce affiliate marketing.

I built my website five years ago, and I am constantly adding new reviews on different aspects of e-commerce. I insert affiliate links in the articles. In the last five years, I made around $300K.

Ben Shemesh, Owner and Content Creator, Ecommerce Platforms

Leverage Blog and Podcast Sponsorships

I've developed multiple passive income streams in the e-commerce and digital media space. My journey began with launching a blog to share insights on e-commerce strategies and tools.

Initially, the blog required significant effort to create high-quality content. As it gained traction and authority, it started generating passive income through various channels:

Sponsored Content – Brands and service providers reach out to publish thought-leadership articles, allowing me to earn income from content others create with minimal ongoing effort.
Affiliate Partnerships – By recommending tools I genuinely believe in, I earn commissions when readers make purchases through my affiliate links, creating ongoing passive revenue.
Link Insertions – As the blog's authority grew, we began monetizing by allowing relevant link placements in existing content.
Guest Posting – We accept paid guest posts, generating income while providing fresh content without creating it ourselves.

The blog now brings in over $50,000 per month in passive income.

Building on this success, I launched a podcast for deeper dives into e-commerce topics through expert interviews. While producing episodes requires active work, the podcast has become another passive income source:

Sponsorships – B2B e-commerce companies sponsor episodes to reach our audience of entrepreneurs, marketers, and DTC brand owners, generating income from both new and back-catalog episodes.
Affiliate Partnerships – Similar to the blog, I earn passive income by recommending products discussed in episodes.

The podcast generates $7,000 per month in passive income, with growth potential as listenership expands.

These ventures create a flywheel effect:

Income allows for more high-quality content creation.
Additional content increases blog authority and traffic.
Increased authority leads to more sponsorship and partnership opportunities.
More opportunities result in higher income.
The cycle continues, growing passive income potential.

Steve Hutt, Founder, eCommerce Fastlane

Launch a Veterinary Telehealth Platform

I built an online platform which allows pet owners to book an online video consultation with licensed veterinarians from across the country. It was built during the pandemic as a solution to allow pet owners to receive on-demand veterinary care. I started by conducting initial market research, understanding the competition, and assessing demand.

Due to being restricted on how much I was able to spend, I used a freelancing platform to hire a developer to build our first website, which was the minimal viable product. After launching the first version of the website in August 2022, we amassed over 55,000 pet owners and have brought in over $30,000 per month.

Joshua Fidrmuc, Chief Executive Officer, Dial A Vet

Build a Fitness Platform Community

My venture (it's really my baby) is an online fitness platform and community. Think workout videos, nutrition support, and a whole lot of motivation and support. It's like having me as your personal trainer, cheerleader, and therapist all rolled into one, but without the hefty price tag!

So, I didn't just wake up one day with a fully-fledged fitness platform. This took hustle, more hustle, mistakes, sweat, hustle again, and a whole lot of late nights.

First, I went back to school and got my MPH when I was 29. My understanding of behavioral health change and public health really shaped everything for me. I shared my own fitness journey on social media, postpartum; I offered free tips and advice. Then, I created content.

I filmed workout videos in my living room, wrote personalized nutrition plans to support the workouts of clients who needed extra guidance. Finally, I launched my platform. I used a simple website builder, set up a payment system, and started promoting my services like a boss.

In the beginning, it was slow. I was making maybe a few hundred bucks a month. But as my community grew and my content got better, the income started rolling in. These days, I'm bringing in thousands a month in passive income. And the best part? It's scalable. The more content I create, the more members I attract, the more money I make. It's like a beautiful snowball effect, doing what I love while serving my community.

Building a passive income stream takes time, effort, and a whole lot of hustle. But I think that if you're willing to put in the work, the rewards can be incredible.

Di Katz Shachar, CEO and Founder, Bodyholic

Capitalize on Online Management Training

Creating an online course has been the single most profitable business move in my management training business. The overhead is low, administration time is outsourced, and the training content has greater reach than I can deliver in person. The course started as a supplement to my workshops and coaching, and it has experienced a post-pandemic surge in enrollment due to remote work and high resignation rates that pointed toward managerial ineffectiveness. The average 2024 monthly income is $33K.

Cecilia Gorman, Management Training Consultant, Manager Boot Camp

Blog About Personal Finance for Profit

One of my most successful passive income streams has been through affiliate marketing. I began this journey about four years ago by launching a blog centered around a niche I was passionate about: personal finance. Initially, I focused on creating high-quality, informative content that addressed common questions and challenges in that field.

To monetize my blog, I joined several affiliate programs related to financial products and services. By incorporating affiliate links naturally within my content and using strategic calls-to-action, I started generating commissions on sales driven through my site.

Over time, I've refined my approach by optimizing SEO, building an email list, and leveraging social media to drive more traffic to my blog. This effort has resulted in a steady passive income stream, currently averaging between $400 and $600 per month. The key has been consistently producing valuable content and experimenting with different affiliate offers to see what resonates best with my audience.

This venture has proven to be both rewarding and scalable. With ongoing content creation and periodic updates to affiliate offers, I continue to see growth in income with relatively minimal additional effort. It's a great example of how investing time upfront can lead to a sustainable source of passive income.

Mashum Mollah, Founder and CEO, Viacon Marketing And Technologies

Sell Photographic Wall Art Online

I make passive income selling wall art online. I work in emergency services and have found creating art each night is a nice outlet to de-stress. I started my online shop two years ago, when I got really sick with COVID-19. I was at home on the couch, looking through old hard drives filled with photos. I came across a lot of my wife's and some of my own professional landscape photography work.

My wife, Katie, is very shy and would therefore never put her work out there. Katie was unfortunately injured during her police career and went on to study Photography and Fine Arts at the National Art School in Sydney. I was looking at all of her beautiful photographs and thinking, "Why aren't we sharing this work with the world?" I started thinking what a shame it would be to go through your whole life and never put this work out there. So, with Katie's permission to sell her work, our business was born.

I've always had an entrepreneurial spirit, having grown up in a very low socio-economic environment, with a drug- and alcohol-addicted mother and lots of family violence and chaos. My dream was always to make it out of that generational cycle. I started working before and after school at a very young age and bought and sold surfboards and then boats. As a teenager, I eventually saved enough cash to move out of home. I worked hard to get myself through the last years of high school whilst living by myself, and the rest is kind of history, really.

I started a website and have been learning about all aspects of e-commerce and SEO for free, online, ever since. I put in around 3 hours each evening, and I am slowly growing this into a little side hustle I can be really proud of.

I pivoted to digital artworks a year ago, that people can download and print themselves for a few reasons. I wasn't making huge sales, so I wanted to reduce the cost for the customer in order to try and increase sales. I also wanted to give the customer the freedom to finish the creative process by choosing what product to finish it with. Some people leave them as digital artwork and display them on a smart TV or iPad on the kitchen bench; others print and frame, put them on a canvas, t-shirt, or anything you can think of.

Either way, by removing the professional framing and shipping costs from the equation, the customer wins, with the ability to have great affordable artwork instantly, and the freedom to choose the end result.

My range would be from $0 to $1,409.70 a week, to be honest.

Sharon Fox, Artist / Deputy Zone Commander, That Wall Art Shop