We live in a fast-paced world where incomes are often lower than expenses. It’s quite logical that people want to learn how to make recurring revenue without any investments.
It’s good to know that, we also live in a world with huge possibilities. Especially when it comes to various ways to make royalties.
Some of these money-making opportunities can become a source of everyday income. More importantly, they don’t require large investments in the first place. The only thing we need to do is to calculate the risks and try new ways of legit ways to generate income.
That’s why today’s topic is going to cover some interesting ways to earn money without too much hassle.
10 Ways to Generate Recurring Revenue
These 10 ways to generate recurring revenue are very interesting and useful. Some of them are easier, and others require a bit more time and engagement. Yet, they might be a nice way to earn some royalties.
#1 Gain Income by Doing Everyday Tasks
Do your daily chores consist of making online purchases, watching videos, browsing through the internet? If so, you may earn money by doing all those things.
You can use apps like Swagbucks and get points for your shopping on different platforms. Amazon, Walmart, and Starbucks are only some of them. By doing these tasks you can redeem collected points and earn money on PayPal.
You can also try platforms like InstaDollar and InboxDollars. These platforms will help you earn money by checking your mail or playing games.
Have in mind that InboxDollars give you a $5 sign-up bonus, but you will need to make 30$ of rewards so you can get those 5$.
#2 Develop an App
Making money by selling stuff you made is a great way to gain recurring revenue. It’s good to know that you don’t need to be skilled with your fingers to make something.
If you’re skilled in programming, you could make virtual stuff like a mobile app for example. You can monetize this opportunity in two forms.
- Charge people who want to buy the app,
- Make a free app and monetize it through ads.
By making an app you can gain profit for years to come. It’s not a simple task, that’s for sure. It requires time, and even money if you want to hire someone to help you.
But, after you complete your project, you will probably be able to make income for years, even as a side one.
A great thing about mobile apps is that you really can monetize them in various ways. From in-app ads, paywalled content, and charging for premium features.
#3 License Your Tunes
Do you have a talent for making music? If you’re positive then this can be a great opportunity for you. You could try licensing your musical masterpieces. That means that you can give other people the right to use your songs in exchange for money.
There are various ways to make royalties with licensing music, from being a Youtuber, making corporate videos and advertisements… All you need is your time.
#4 Rent Your Car
If you like the idea of renting your car when you don’t need it, then you may like this. Like Airbnb for accommodation services, you can do the same with your vehicle. There are companies such as Turo that offer you to lend your car to other people.
So, next time when you won’t need your car for a couple of days, consider renting it through legit platforms. You will earn money while practically doing nothing.
#5 Get Paid for Your Opinion
How do you like the idea to make money by giving your honest opinion about products or services?
The possibility to earn money by doing paid surveys is really great. Legit survey sites will provide you with some questions. In most cases, they will be about products or services. But, you may come across various topics. Surveys give you the opportunity to:
- Fast and easy to earn some money.
- Help someone to get better at what they offer. For example, some companies could upgrade their products.
- You will have fun doing surveys as they resemble quizzes.
If you don’t mind spending a few minutes of your time doing a mini-game-like task, surveys might be for you.
#6 Start a Blog
Do you love writing and you’re passionate about some topic? Then you could be a great blogger. Blogging is a great way to make a passive income that can last for many years. A nice thing about blogs is that you can start writing them with little as no money.
For a couple of dollars and some consistency, you may end up with a profitable blog. If your content becomes valuable to people they will keep coming back to your blog. They will bring some good traffic to it.
And, as we all know today, traffic means money.
#7 Place an Ad on Your Car
If you don’t mind having a colorful car here and there, here’s an opportunity for you. Different platforms can help you with car advertising.
For example, Carvetise can provide you with up to $1200 during a campaign, and about $100 a month with regular ads. You just need to check if this company is currently placing ads in your area.
There is also Wrapify. It’s like Carvetise, but they have a different way of paying. With this platform, you will need to track miles and locations. So, the more miles you drive, the more money you get. It can go up to $200 a month.
#8 Do Network Marketing
Many companies offer an option for network marketing. By selling a company’s product you will earn a commission. This is a nice way to make money, as you will have a chance to choose your working hours.
Some popular network marketing brands are DoTerra, Rodan & Fields, Avon… There are various ways to earn money with this program.
- Share a brand’s products with other people,
- Use products by yourself, and
- Recruit others to join companies’ programs.
#9 Become an Influencer
Do you love spending time on social media platforms? Then, this might be a great option for you. Influencers usually work as they make content which some companies pay for.
The rates for paid posts are measured by the followers’ numbers and engagement rates. Being an influencer can be a fun way to make recurring revenue, but it requires some time.
There are some things you need to pay attention to if you want to be a social media influencer.
Highlight your social media accounts, niche, and provide samples of your work.
#10 Try Online Rebates
Did you know you can get a rebate from online shopping? Platforms such as Rakuten offer that kind of deal.
You can open an account, activate the Rakuten browser add-on, and shop like you would do either way.
Expect cashback that goes from 1 to 22 percent. Every month you will see a payment on your PayPal account, or some nice gift card to the store you choose.
If you make some big purchases, such as a smartphone or big online grocery shopping, you can gain a couple of bucks.
This is an interesting way of making money. It doesn’t need any investments other than ones you would do daily anyway.
Generating Recurring Revenue FAQs
How to Make Recurring Revenue?
Having a passive income is never initially passive. You will need to spend some time and/or money so you could earn money afterward.
So, by generating a smart way to gain money, you can rely on them in the future. Only then you may get to the point where you don’t have investments, and have only revenue.
The key is to weigh risks and chances and see if it will work out for you. It’s always handy if you own some skill already, so you can start creating something out of nothing.
But, even if you haven’t found something you’re skilled at, it’s never too late. It’s a good idea to enroll in free online courses if you’re not sure what kind of work suits you the most. Oh, and you’ll have to practice a lot. Practice makes perfect!
So, keep learning and then try to put your knowledge to good use.
Does Recurring Revenue Work?
If done the right way, recurring revenue can help you gain money in the long run. The best thing is that you often won’t need money in advance to start.
But, when and if earnings start to pile up you would be able to invest that money to make more.
Can You Generate Recurring Revenue for Free?
The thought of gaining money without any investments sounds very appealing to all of us. But, things don’t really work that way.
There is no way to earn money without investing even a bit of your time, money, or skills, sometimes all three.
It just depends on what someone considers as “free”. The good thing is that you can opt for some more payable options that don’t require too much time or money.
In the long run, all investments could pay off, but like everything in life, they come with some risks.