How to Achieve Financial Freedom

Achieve Financial Freedom

The idea of financial freedom is very latent in the new generations, but to achieve it, it is necessary to work on something innovative and of quality that will allow you to obtain passive income over time. We tell you how you can do it.

Entrepreneurs seek to spend most of their time developing some activity of their taste or interest that in addition to personal satisfaction, brings them money and profitability.

But on many occasions, usually when they are in their early stages, they would like additional money without having to neglect their priorities or invest a lot of time.

The good news is that there are business ideas that can bring you passive income, that is, they generate permanent income, even if it takes a little longer to get them going at first.

To understand this concept we must understand that when we want to have income of this type is because it is about business or ideas that, after developed, do not require much time and money can continue to flow.

However, guaranteeing this type of passive income requires dedication of time and effort to make them with quality, so that after a while you can receive money from them without much effort to devote yourself to doing what you like best.

Achieving financial freedom is not a kind of magic or an advertisement coming down from the sky. You have to work to get it, and here we tell you some possibilities to make it a reality.

Create a fintech

A good opportunity to earn money is to create a fintech which is a service where financial companies use the latest existing technologies.

If you decide to plan this business keep in mind that profitability will be high because Colombia in this Latin American fintech environment is in third place, as it grew 61%. In addition, it is estimated that approximately $150,000 billion will be invested worldwide in five years.

The possibilities to develop your idea in this sector are wide, for example: alternative financing platforms, personal finance management, business, financial asset trading, digital banking, insurance and technologies for financial institutions.

Open a blog

Blogs can also generate passive income, the important thing is that this website contains quality content and solid foundations. To get your blog recognized, take these recommendations into account:

First, you must choose a specific niche that your blog is going to talk about so that each content you create is tailored to a specific audience and can reach more directly.

After identifying the above it is important that you recognize the other blogs that make content of the same topic or niche, so that you decide how you are going to show it in a different and relevant way so that people prefer to follow it.

After obtaining recognition you can enter to monetize your space looking for those who want to advertise on your page to publicize your products or enter inbound marketing through their content.

Another possibility is to become an ‘influence’ on some product or service and earn a commission for each sale or just for the post.

Make a YouTube channel

By creating a channel on this platform you can monetize any type of content you do, what matters is that it has great reach and is large the audience that sees it. That’s why we recommend that you recognize what your skills are and do tutorials.

The Millenials generations that come back prefer to consult via internet how to do something they don’t know and YouTube is one of the most visited platforms for this.

The channels work similarly to blogs, because it is important that the content is of quality, goes to a specific audience and generates great reach not only for the views but also for you to become influential for the large number of followers you will achieve.

Create an audiobook

These new generations prefer to use mobile platforms to read or listen to readings. The immediacy or speed in which we live makes most people choose to listen to books, so you can think of an idea of a subject that you know or that people would look for to hear and follow. There are several platforms like Audible’s ACX that allow you to launch your audiobooks to larger platforms like Audible or iTunes.

In this business idea you will have to spend a lot of time before launching it, that is, when you are creating the content and advertising it. But then you can see the results of passive income.

Sell professional photographs

The Internet has shown that content can be seen more if accompanied by good images, so there are several banks that charge for the use of each photograph.

For them to survive and to get images of various themes or different parts of the world requires that there are different people who have captured them and are willing to sell them.

If you have skills in the field of photography this can be a good opportunity to earn money doing what you like and without spending a lot of time. On either of these platforms, iStock or Shutter Stock, you can earn money even when you are sleeping.

Become an instagramer

Instagram has become the social network of choice because it has been transformed to respond to new user needs. In this case, you can start sharing quality content and interest also for a specific audience to win ‘like’, followers and therefore or recognition that will bring you money.

Monetization can be done in two ways the first option is to be instagramer, there you can earn by advertising in your post, stories, tags and comments.

Another way that can be successful is to sell products through the same social network, since it allows you to create a profile as a company and add data such as telephones, addresses, agendas and even label or display prices, so that the user can access them more easily and efficiently.

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