After years of trial and error combined with the experiences of people we have met over the years we have come up with the top 3 ways to earn income as a digital nomad
We are reluctant to use the word easy but we will say that these are definitely the most efficient ways to start earning passive income. You will still need to put in the hard work up front but once everything is in place you will be able to reap the benefits passively for years.
Amazon’s fulfillment by Amazon program takes all of the heavy lifting off of third party sellers. As a third party seller you can run an FBA business without ever touching the product. Amazon will store, pack and ship products on your behalf. Product research is key here. Finding the right product with high demand and low competition is very important and where we would suggest spending the most time. Once you decide on a product, buying inventory, setting up your listing and budgeting for marketing are the upfront cost. The process takes around 40 hours for your first product. Once your listing is up and running it takes about 1 hour a week to manage making FBA one of our top choices for making passive income.
We have found Jungle Scout to be the best resource in terms of free content with the Million Dollar Case Study Series. The Jungle Scout Tool is also what we use to find product niches with low competition and high demand. Check out their how to sell on Amazon beginners guide below.
Affiliate marketing is simply selling someone else’s products in exchange for a commission. Almost every large company has some sort of affiliate program. You can create content (videos, blogs, social media post) featuring the product you are interested in selling with a link to the product. Someone clicks on your link and buys the product and voila! you get paid.
The great things about affiliate marketing are;
- After the content is created the income is completely passive.
- You can choose any product you would like to sell or are passionate about.
- The startup cost are extremely low.
Consulting & Freelancing
Consulting and freelancing require you to be highly skilled in a specific area that has a demand. If you are a professional digital marketer you can offer your expertise to companies around the world as a consultant. If you are skilled in a certain program such as Photoshop, for example, you can freelance by selling your service on sites like Fiverr, UpWork or 99 designs.
We like these options if you are a highly skilled individual because as with affiliate marketing the startup cost are almost nothing. It will take time to build up a reputation but once the ball is rolling you may find yourself turning down more clients than you take on.