5 of Our Favorite Ways to Make Money From Home

Working from home in pajamas is the dream of many out there trapped in the rat race. The great news is that it’s not hard to get started. Below are some of our favorite ways to make money from home.

Find a Passive Income Stream

What’s “passive income”? It’s simple — finding a way to earn money while you sleep, of course!

There’s a saying in the corporate world: “Don’t make yourself irreplaceable. If you can’t be replaced, you can’t be promoted.” As an entrepreneur, this is still true in its own way.

Let’s think of “being promoted” as earning more and working less. You can raise your prices, but until you can remove yourself from being directly involved in doing the work that generates the income, there’s always going to be a limit to how much you can earn, and it can only increase very slowly.

Do Affiliate Marketing the Smart Way 

Affiliate marketing is sometimes touted as “get rich quick schemes” by shady sites offering pyramid schemes that promise quick cash for little effort. Make no mistake — successful affiliate marketers put in a lot of effort toward building an audience and quality content that will bring in sustainable passive income. Expect to do a lot of legwork up front — but if you play your cards right you can build a solid source of revenue over time

Build a Blog on a Specialty Niche

If you create a specialty blog that brings in a reasonable amount of traffic, you can enjoy income on ads you place on the site.

One good way is to craft a specialty blog with product reviews and recommendations. Be sure to pick a topic that you enjoy and know something about. If you can’t stay passionate about the topic, that will show, and it also won’t hold your interest. Choose a narrow enough niche to be distinctive, e.g., bands from your city, left-handed guitarists, music for a certain kind of dancing, authors of a certain religion, books about arts & crafts, etc.

Make Money Doing Something You Love

You don’t have to be a professional photographer to sell your photos for money. People are constantly in need of stock photography for websites, presentations, brochures and so on, and are willing to pay for the right image. People generally search for images on stock photography sites by keywords, not by photographer, so you have the same chance as anyone else of having your image picked. Just be careful that you don’t have images of trademarked brands, copyrighted art or people’s faces that are readily identifiable (unless you have a model release), but just about anything else is fair game, and I promise – you’d be amazed what people need pictures of, so don’t make any assumptions. If it’s a decent photo, upload it. Some sites to get you started include Fotolia, ShutterStock, Dreamstime,  and iStockphoto. The great thing about this is that it’s truly “set it and forget it”.

Build an Information Products Business 

If you have a knack for teaching or making complex material more digestible, consider the field of information products.