Finding Extra Income Streams Using Cloud VersatilityJuly 17, 2018
Article Written by Sally Perkins
Cloud computing is seen as the hallmark of tech giants like Amazon, but old-fashioned institutions are showing how anyone can benefit from it. It was reported last quarter that Walmart had improved 60% of online transactions using cloud technology, making it so their customers are able to benefit from return offers at record pace, and further so that prices can be changed at the click of a button. The key message to take from that bit of success? Even if you’re not massively changing your business, cloud integration can help to craft new products and generate more income on the fly.
The technology isn’t as prohibitive as it may once have been, either. Cloud security is becoming well understood and technology is continuing apace to provide solutions to every business. For the business owner or individual looking to make some extra money, this means opportunity. From mobile-based options to ebooks and courses, there are plenty of options thanks to the cloud.
Earning a semi-passive income
As the name suggests, passive income is the process of generating wealth without using valuable time. Classic examples are stocks and shares, where your money is taken care of. Where does the cloud come in? One example is through the creative arts. Taking books online requires the cloud, as does sharing literature between several devices. For authors, or those with advice to give, this is one area where serious money can be made passively – the most up to date figures show that ebooks sales generated $1.3bn in the last three quarters of 2017, according to Author Earning’s most recently available figures.
This can be extrapolated out; using the cloud to host a online course in which you sell your expertise, for example, means that users can enjoy the experience across several devices and the only effort you need to put it in support queries.
Can you benefit from total automation?
There are options the cloud provides for total automation of your income, too. Most tech-savvy people will be more than aware of the disruptive impact of bitcoin, which characterized the finance market throughout 2017 and early 2018. Whilst not as much a hot button topic anymore, there are profits to be made in cloud-based mining, and they help you get around EULA restrictions on devices – Apple recently banned iPhone bitcoin mining for example, in a bid to preserve warranties.
In terms of profitability, a thorough report by Hackermoon with some basic currency weighting – as bitcoin is reliant on the dollar – found that, aside from maintenance fees demanded by some services, you can make a profit without too much input of your time. Whilst somewhat daunting to set up, engaging with a cloud-based mining system truly is an entirely passive income stream, and aside from selling your currency, could net you a good chunk of extra cash.
Passive income is wonderful way to augment the hard hours you put in every day. Cloud computing can help you out, providing you with the versatility and technology platform to flexibly and easily sell your wares. As always, it’s simply a case of staying vigilant to new opportunities and keeping things ticking over.
About the Author
Sally Perkins is a professional freelance writer with many years experience across many different areas. She made the move to freelancing from a stressful corporate job and loves the work-life balance it offers her. When not at work, Sally enjoys reading, hiking, spending time with her family and travelling as much as possible.