First of all, we need to be clear on what passive income is. The definition you will find by searching the internet will describe it as “receiving money on a regular basis with a minimal effort by the recipient.” There are two sources for generating this kind of income: the first one is renting, and the second one includes trade activities in which one does not have to be fully engaged.
What’s interesting is that you can sit home with your family, be on a vacation or work another job and earn money without having to “move a finger,” all because people can shop 24 hours a day, 7 days a week without your direct help. Today’s post will help you understand how people make a living from this, since there are many of them who make six-digit earnings per year.
There are thousands of crafty people out there who can create wonderful things such as scarves, pottery, or paintings, but can’t get their products sold. That’s why “going online” is one of the things that every small business owner should consider. It increases the number of potential customers since the internet has no boundaries.
There are two ways to go online:
Create your own website
List your products on ecommerce websites
Creating a website takes up a lot of time. You need to build the site so it gets a lot of traffic and reaches as many people as possible, and you also need to maintain and constantly update it. That’s why many people opt to use ecommerce websites, which are a lot easier to use for trade activities and generating extra income.
eBay, with its constant promotions and deals, is one of the biggest ecommerce corporations in the world and it specializes in sales through its website. On eBay you can buy or sell anything from collectibles, appliances and computers to furnishings, equipment, vehicles, etc.
People use mainly it because they can start making listings immediately, since as I mentioned above, creating an online shop, building and maintaining one takes a lot of time. There is basically no investment, as eBay charges sellers after items are sold.
Furthermore, eBay helps by promoting your product on search engines where you can get the desired amount of traffic and a lot of people will be viewing your product, thus becoming potential customers.
In order to be successful you need to have ideas and find the right formula. There are a lot of people who use their creativity in other ways such as buying and then re-selling things. It is very important to do your research and choose the right product before placing it on eBay at a competitive price.
There are many ways in which people use ecommerce to generate an extra income, and eBay helps them with that. It is a win-win situation for both the seller and the website. With technology entering every pore of today’s modern society, people are starting to be really creative and they grab every chance available.
Check out this nifty infographic by 16Best.net and learn more about the giant ecommerce site plus other interesting tidbits, like the most expensive things sold on eBay, how eBay performs against its competitors like Amazon and more.