Are you currently broke with no paying skills and you are looking for a super cool way to make $100 daily in passive income?
If yes, this is the right content for you.
First of all, is it really possible to make $100 a day even when you are broke?
Definitely yes. You can either earn it as active income or passive income. By saying active income, I mean exchanging your time for money.
In Order words, the harder and longer you work, the more money you earn.
However, with passive income, your earnings are not dependent on your time and you can even make money while you sleep.
Just in case you are interested, let us take a look at some of the ways you can hit such figures using active income
And then we dive right into the focus of today which is making $100 daily in passive income even if you are broke.
One of the best ways to make money when it comes to active income is freelancing.
This involves working remotely for companies, brands, and individuals and they pay you based on the agreement as it can either be per task or per hour.
This is definitely the fastest way to make money on the internet as you can earn money today using this model.
However, it is not really scalable as you are paid in proportion to your time.
You can offer a variety of skills based on what you good at such as
- Data entry
- Content writing
- Graphics design e.t.c
Now let’s quickly dive into how you can make the same $100 daily passively.
Table Of Contents
- 1 Make $100 Daily On Ebay
- 2 Build a Brand On Instagram
- 3 3. Promote Your Products Using Facebook Ads
- 4 Conclusion
Make $100 Daily On Ebay
eBay is one of the world’s biggest marketplaces and certainly the biggest when it comes to handmade crafts.
With millions of buyers going through the site daily to get items, it is a very valuable marketplace to list your products and sell for a profit.
Now I know you don’t have any products but that won’t be a problem. I will work you through the exact process of how you can get started even if you are broke.
The first thing we have to do is find a product that is proven to sell well on eBay. One key thing you should note is that “in business, nothing happens until a sale is made“.
So we have to find a product that sells well.
Do not be scared by competition when selecting the product as competition clearly shows that there is a lot of money to be made there.
So you can go through the catalogs of your favorite categories and find those products that are fairly affordable and sell well.
Once you locate such products, you can perform an image search on the image and find the source of the product.
Most times, you will find out that these products were actually bought from AliExpress or other less-known websites.
Now compare the prices.
Most times, a product selling on eBay for $40 may cost less than $20 on AliExpress.
Selling on Ebay vs AliExpress
Why don’t people go to AliExpress directly? I know that may be the question in your mind.
The truth is that consumers are lazy and will not want to go through those long processes even when it promises to save them some money.
So all you need to do is register as a seller on eBay and grab the images and description of the product from AliExpress and list them on eBay at a higher price.
After doing so, just sit back and wait for your first order.
When you receive an order, all you need to do is copy the details of the buyer and use it to place an order on AliExpress and let the merchant deliver the product directly to your customers.
In this way, you indirectly serve as a middleman and you can keep the price margin as your profit.
This is the business model known as dropshipping.
It’s super cool, highly profitable and you can get started today for absolutely no money down.
Advantages of Dropshipping using eBay
- You do not need to pay for ads to get people to see your listings as ebay has millions of users. That equates to free traffic for you
- You do not need extra work to build trust with your customers as ebay has the necessary infrastructures that make it safe to deal on the platform
- You can get started even if you are broke
- You do not need to take inventory of any products
- You do not deal with shipping and other linguistics that have to do with e-commerce
- It is very profitable if you hit a fast selling product
- You can build a full time business from this business model.
Disadvantages of Dropshipping on eBay
- You do not have absolutely control as you are leveraging ebay’s platform
- In the case of an incompetent supllier, you bear the risk
Now once you start making some really cool money from dropshipping on eBay you may want to move into something more stable and profitable and that is where numbers 2 and 3 come in.
Build a Brand On Instagram
Instagram profiles are currently one of the fastest mediums to advertise your products, reach a huge size of your audience and make sales.
This is because people are moved to buy based on what they see.
Yes, with Instagram, you can get various images of your product in front of them all the time and the buying process begins.
The product sourcing strategy is absolutely the same as you can get these products from AliExpress or any other website and now including eBay.
Then you create your Instagram business account and start publishing content related to what you plan on selling.
I will always advise you to pick a profitable niche if you are really serious about making money.
One great idea is building an Instagram brand about wireless devices or dog accessories.
It can really be anything.
Growing Your Instagram Followers
This is where the work actually is as you will have to drop your account to a massive amount of following to keep the sales coming as passive income.
This is not actually difficult if you know how to go about it. You can either do this organically or use a paid approach.
By saying paid approach, I don’t actually mean paying for Instagram followers as that could get your account banned.
Growing Your Instagram Account Organically
This involves playing with the algorithm laid down rules to get your content seen by as many people as possible.
It involves going with trends in your niche as well as properly using hashtags.
Growing Your Instagram Account Using Influencers.
This is the paid approach and it works really well.
One of the key approaches to advertising is to find where your potential buyers congregate and advertise there.
So the first step is to know who exactly are your potential customers. What do they like and what kind of Instagram accounts do they follow?
Once you have located a couple of accounts that have your buyers as followers, it is a matter of approaching the owners and checking out what they have to say regarding partnering with your brand.
This can mean you paying them per post or giving them some of what you sell for a review.
Once you get to an agreement with them, you can then proceed and close the sales that come in immediately as well as direct the rest to your account.
If you want to go a little bit advanced, you can build an e-commerce website for your business and use Instagram as a traffic source.
Quick Tip: Also give out freebies at times with the aim of growing your following. Also, do not depend much on Instagram, also build an email list in case anything happens to your Instagram account.
3. Promote Your Products Using Facebook Ads
Currently, Facebook is the cheapest advertising medium in the marketplace today with a highly effective targeting tool.
All you need is a Facebook or Instagram account or even both and you can drive sales to your products easily.
So that is the guide, that is exactly where you can start from up till now you can convert it into a sustainable income source.
As you have seen, it is absolutely possible to get started even if you are as broke as ass using eBay arbitrage.
So do not let lack of capital keep you from making money, as long as you have a mobile device and an active internet connection,
you can definitely makeup to $100 and even more if you are smart using internet platforms.