![]() She applied her training through the International Business Brokers Association to the digital space.Ĭlarke said her business took off in 2020 as more people sought additional revenue streams. If an entrepreneur already has the training to do so or can hire others to do the heavy lifting, they can earn income passively.Ĭhelsea Clarke, the founder of Blogs for Sale, a website-flipping business, said the idea came to her when she was building websites for a brokerage that sold brick-and-mortar businesses. It involves buying a website for an online business that isn't doing so well and optimizing it to improve traffic and sales. Some digital entrepreneurs are applying the concept of flipping houses to flipping online businesses. They share the tricks for making millions on sites like Airbnb and Vrbo this summer.Ĭhelsea Clarke is the founder of Blogs for Sale. Read more: Erica Beers and Rebecca Slivka booked $3.8 million in a year running a vacation-rental business in LA. In 2020, they moved away from day-to-day management and decided to run Hicksville Trailer Palace in Joshua Tree, California. Four years later, they booked $3.8 million in revenue, which Insider verified with documentation. They said that at the time the market for business travel wasn't very crowded, so they were able to make it their niche. In 2015, Erica Beers and Rebecca Slivka created a short-term-rental startup called Pillow and Coffee to target business travelers in Los Angeles, focusing on location, amenities, and photos of the properties. They can also hire property managers to communicate with tenants and collect rent. Entrepreneurs who buy and rent out properties can make passive income as long as they put in the hard work at the beginning to make the property appealing to renters. While it involves risks, investing in real estate has been a way to build long-term wealth. Here's how he reached his first $1 million in revenue.Įrica Beers and Rebecca Slivka of Joshua Tree, California, cofounded Pillow and Coffee. Read more: A 31-year-old finance blogger turned his side hustle into a 7-figure business. Read more: Creating your career: 19 content creators share how they turned their social-media side hustles into full-time jobs He started his personal finance blog in 2016 -developing it into a portfolio of websites about niche topics like the gig economy and investing - that earned him more than $1 million in revenue this year. ![]() Last year she earned $35,000 in affiliate links and brand deals, which Insider verified with documentation.Īdditionally, affiliate marketing generates a majority of Brian Meiggs' blogging business, Meiggs Media. ![]() Now she directs her nearly 62,000 followers on Instagram to both designer and budget-friendly brands like Revolve, Madewell, Charlotte Tilbury, and Petal & Pup. However, affiliate marketing is one way for entrepreneurs to earn passive income if they've generated a decent following.Īffiliate marketing involves a creator posting a link or a code that directs people to another brand's website - if a customer purchases something from that company, the entrepreneur can get money.īethany Everett-Ratcliffe, 35, a fashion and beauty influencer, took on content creation full time at the start of the pandemic. It takes a great deal of work to become a successful content creator on platforms like Instagram. It often indicates a user profile.īethany Everett-Ratcliffe is a fashion and beauty influencer in Boston. ![]() Account icon An icon in the shape of a person's head and shoulders. ![]()
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