Here are what I consider to be the 6 BEST passive incomes in 2023 in the UK and how YOU can start doing them as well in order to find YOUR financial freedom.
If you want to make money online through passive incomes here in the UK and probably elsewhere around the world, and you don’t mind making money lazily, I am your man.
For me, having passive incomes has allowed me and my family to be financially free, go on a shit load of holidays and just have no worries when working other side hustles.
1. PUBLISH LOW CONTENT BOOKS (KDP)
A fantastic approach for authors to self-publish their work and make it available to millions of users on the Amazon Kindle store is through the KDP (Kindle Direct Publishing) programme.
The low content book is a well-liked book genre that is suitable for self-publishing on Amazon KDP.
Journals, colouring books, and puzzle books are examples of low content books because they often feature little text. Being reasonably simple to produce, these books can be a wonderful way to begin self-publishing on Amazon KDP.
How to get started
Create the book in a file format that is supported by the Kindle store, such as a PDF or MOBI file, before you can begin publishing a low-content book on Amazon KDP.
The next step is to open a KDP account, which is free and simple to do.
Once your account has been created, you can upload your book and modify its details, including price.
Reaching a huge audience of potential readers is one of the main benefits of self-publishing a low content book on Amazon KDP.
You can reach millions of prospective readers by making your book accessible on the Kindle shop, one of the biggest online book stores in the world.
Furthermore, self-publishing provides you complete control over the style, organisation, and content of your book, enabling you to produce an original work that stands out from the competition.
Nevertheless, there are several drawbacks to self-publishing a book with little material on Amazon KDP.
The hardest task is differentiating yourself from the competition. It can be challenging to stand out among the plethora of books in the Kindle store.
Furthermore, self-publishing demands a sizable time and effort investment, and the financial benefits might not be as large as those of traditional publishing.
Overall, self-publishing a book with little material on Amazon KDP can be a terrific method to connect with readers and develop as an author.
However, it’s crucial to weigh the advantages and disadvantages and be ready to put in the necessary time and work.
You may successfully self-publish your low content book with the appropriate strategy and some effort.
2. START YOUR OWN BLOG ££££
An excellent method to share your ideas, experiences, and views with the world is by starting a blog.
A blog is a terrific venue for sharing your love for a certain subject or your personal experience, as well as professional guidance. In addition, blogging might be a terrific method to earn money.
The selection of a topic or niche is the first step in creating a blog. This is crucial since it will enable you to concentrate your material and draw in a readership that is eager to hear what you have to say.
After deciding on your niche, you must choose a blogging platform. There are some free platforms out there that are simple to use and include all you need to get started, such WordPress.com and Blogger.
MY PERSONAL BEST WEB HOSTING COMPANY IS:
- Fasthosts (cheap, affordable, reliable and uptime is always guaranteed)
You can get a £1 per month deal to start your blogging journey with them and you get your own domain thrown in with this deal. (contact me if you want your blog created, please see my services pages for more information about what i do and prices etc)
You can start earning money from your blog as soon as it is up and running. A blog can be used to generate income in a variety of ways, including:
- Advertising: By placing adverts on your blog, you can get paid each time a user clicks on one of them.
- Through affiliate marketing, you can advertise other people’s goods and get paid for each sale you make.
- Sponsored posts: You can collaborate with companies to produce content for them and be paid for it.
- Selling goods or services: You can use your blog as a platform to market and sell your own goods or services, such as consulting services, e-books, and online courses.
- Membership: You can provide members access to special content or benefits.
Whatever type of monetization you select, it’s critical to keep in mind that creating a successful blog requires time and effort. It’s crucial to continually provide high-quality material and interact with your followers on social media and in comments. You can make money off of your blog if you take the appropriate strategy.
In conclusion, starting a blog may be a fantastic method to express your ideas and opinions to the world. If done correctly, it can also be a fantastic way to earn money. Although it takes time and effort, you can make your blog profitable with the correct monetization plan.
3. CREATE AND SELL YOUR OWN COURSE
A excellent method to both share your knowledge and skills with others and earn money online is by creating and selling a course.
It’s simpler than ever to develop and market a course nowadays because to the internet and online marketplaces like Udemy and Coursera.
The first step in creating a course is to identify a topic or niche that you are knowledgeable and passionate about. It could be anything from cooking to coding, photography to public speaking, or anything in between.
Once you have identified your niche, you’ll need to create the course content. This can include videos, audio, slides, and written materials.
Once your course is ready, you can start promoting it. The best way to do this is through your own website or social media channels.
This will allow you to reach a large audience and promote your course to people who are already interested in your niche. You can also use platforms like Udemy or Coursera to host your course, making it more visible to potential students.
One of the biggest advantages of creating and selling a course is that it can provide a passive income stream.
Once the course is created, you can continue to sell it and earn money without having to spend much time or effort.
Additionally, creating a course can be a great way to establish yourself as an expert in your field, which can lead to other opportunities, such as consulting work or public speaking engagements.
Another advantage of creating and selling a course is that you can reach a global audience. With the internet, you can reach people from all over the world, which means that you can earn money while you sleep.
Additionally, creating a course allows you to share your knowledge and expertise with others, which can be a rewarding experience.
In conclusion, creating and selling a course can be a great way to make money online. It allows you to share your knowledge and expertise with others, and provides a passive income stream.
Additionally, it can be a great way to establish yourself as an expert in your field and reach a global audience. With the right approach, you can turn your course into a successful online venture.
4. CREATE AND SELL YOUR SKILLS
Selling your skills online is a great way to make money and turn your talents into a profitable venture. Here are a few steps to get started:
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Identify your skills: The first step in selling your skills online is to identify what you’re good at. Think about the skills you have that others may be willing to pay for. This can include anything from writing, design, coding, to language skills, teaching, or consulting.
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Create a portfolio: Having a portfolio of your work is essential when selling your skills online. It will help potential clients see your work and determine whether you’re a good fit for their project. You can create a portfolio by setting up a website or using platforms like Behance or Dribbble.
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Sign up for freelance platforms: There are many freelance platforms such as Upwork, Fiverr, and Freelancer, that allow you to connect with potential clients. These platforms are great for finding short-term projects and building your reputation as a freelancer.
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Market yourself: Once you have your portfolio set up and have signed up for freelance platforms, the next step is to market yourself. This can include reaching out to potential clients, networking, and building a strong online presence through social media.
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Set your rates: When selling your skills online, it’s important to set your rates. Determine what you believe your skills are worth and set a rate that you’re comfortable with. Keep in mind that you can always adjust your rates as you gain more experience and build your reputation.
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Be open to negotiation: Be open to negotiation and be willing to work within your clients’ budget. Keep in mind that you can always negotiate your rate if you feel you’re worth more.
Selling your skills online can be a great way to make money and turn your talents into a profitable venture.
With the right approach, you can be your own boss and work on projects that interest you. It’s important to be consistent, persistent, and always be looking for ways to improve and promote your skills.
5. AFFILIATE MARKETING
Affiliate marketing is a great way to make money online by promoting other people’s products and earning a commission for each sale. Here are a few steps to get started with affiliate marketing online:
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Choose a niche: The first step in affiliate marketing is to choose a niche or industry that you are interested in and have knowledge of. This will make it easier for you to find products to promote and attract a targeted audience.
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Find affiliate programs: Once you have chosen your niche, you can start finding affiliate programs. Many companies and brands offer affiliate programs, and you can find them by searching online or by visiting affiliate networks such as Commission Junction, Shareasale, or ClickBank.
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Create content: Once you have found affiliate programs, you can start creating content that promotes the products. This can include blog posts, videos, and social media posts.
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Promote affiliate products: Once you have an audience, you can start promoting affiliate products through your website, blog, or social media. This can be done through banner ads, text links, or product reviews.
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Track your progress: Use tools like Google Analytics to track the performance of your affiliate marketing campaigns and make adjustments as needed.
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Keep learning and adapt: Keep yourself updated with the latest trends and strategies in affiliate marketing, and always be open to testing new methods and strategies.
It’s also important to note that it’s not just about promoting products, it’s also about providing value to your audience and building trust with them.
The more value you provide, the more likely they are to purchase products through your affiliate links.
6. CREATE AN APP THAT PAYS IN 5 WAYS
Creating your own app can be a great way to make money passively. Here are a few ways to make money with your own app:
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In-app purchases: You can offer in-app purchases such as additional features, virtual goods, or subscriptions. This can be a great way to make money passively as users can continue to purchase these items over time.
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Advertising: You can include ads in your app and earn money every time someone clicks on them. This can be a great way to make money passively as the ads will continue to be displayed as long as the app is being used.
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Affiliate marketing: You can include affiliate links in your app and earn a commission for any sales made through them. This can be a great way to make money passively as the links will continue to be displayed as long as the app is being used.
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Subscriptions: If your app provides valuable or exclusive content, you can charge a subscription fee. This can be a great way to make money passively as users will continue to pay the fee as long as they continue to use the app.
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Sell your app: If you have created an app that is in high demand, you can sell it to another company or individual. This can be a great way to make money passively as the app will continue to generate revenue for the buyer.
It’s important to note that creating an app that is successful in making money passively also requires a lot of time and effort.
It’s important to create a valuable, user-friendly app that people will want to use and pay for.
Additionally, it’s important to keep in mind that the app market is highly competitive and it can be difficult to stand out from the crowd, but with the right approach, you can turn your app into a successful and profitable venture.
How to get started with creating an app
Getting started with coding an app can seem daunting, but with the right approach, it can be a fun and rewarding experience. Here are a few steps to get started with coding an app:
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Learn the basics: Before you start coding your app, it’s important to have a basic understanding of programming concepts and the programming languages you’ll be using. There are many resources available online such as Codecademy, Coursera, or freeCodeCamp that can help you learn the basics.
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Choose a platform: There are several platforms available for creating apps, including iOS, Android, and web. Each platform has its own set of programming languages and tools, so it’s important to choose the one that best suits your needs.
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Choose a development environment: Once you have chosen a platform, you’ll need to choose a development environment. This is the software you’ll use to write and test your code. For example, Xcode for iOS, Android Studio for Android, and Visual Studio Code for web.
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Design your app: Before you start coding, it’s important to plan out the design of your app. This includes creating wireframes and flowcharts to map out the user interface and user flow.
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Start coding: Once you have a plan in place, you can start coding your app. It’s important to start small and build on your progress as you go.
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Test and debug your app: Once you have coded your app, it’s important to test it thoroughly to make sure it works as intended and fix any bugs.
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Launch and market your app: Once your app is ready, it’s time to launch it and market it to your target audience.
Keep in mind that coding an app is a process that takes time and effort, so be prepared to make mistakes and learn from them.
Additionally, it’s important to stay up to date with new technologies and trends in the field, to ensure your app is relevant and up to date.
(tip) Go on Flippa.com and see for yourself with all the apps for sale to either purchase one or for inspiration would be my advice to get your app idea off the ground.
FINAL THOUGHTS...
Believe you me people, making money through these 6 Best Passive Incomes In 2023 in the UK when you are trying to hold down a family is pretty tough for any of us.
If you want it hard enough you will get your hands on passive incomes whether you live here in United Kingdom or in Alaska. The mindset always needs to stay the same everywhere.
With all the above opportunities well within your grasp, it’s now down to you guys to make shit happen and make it a success for yourself and your family. ACT NOW, RETIRE YOUNG.
Welsh finance blogger who has been blogging since 2008 and finding the best ways to make money online and from blogs in almost every niche.