Sell digital products
Neil Patel claims that selling digital products is a profitable passive income idea for various industries. If you are passionate about educating the public about health or personal hygiene, consider creating and selling health-related digital products. Examples of such digital products include e-books and online courses that can be downloaded from popular platforms, making them accessible to potential and seasoned learners alike. Additionally, creating workshops and webinars with valuable content is rewarding and a great passive income idea for African healthcare professionals.
According to Medico Reach, affiliate marketing is ideal for healthcare professionals to maximize their income for a desirable life. Affiliate marketing is an evolving market with ideal sales tactics for African healthcare providers. If you enjoy sharing favorite resources and products with family or friends, consider becoming a healthcare entrepreneur with affiliate marketing.
The idea is to get a specific link that friends and family can use to sign up and buy medical products for a commission. Most affiliate marketers receive a percentage of each sale from customers using the affiliate link.
Collaborations and sponsorships
According to The Atlantic, collaborations and sponsorships are essential passive income ideas for healthcare professionals. Whether through consolidation or otherwise, health professionals must collaborate for a unique organizational culture in communities. African healthcare providers should collaborate and work together to share ideas, services and programs for the benefit of patients.
If you enjoy social media and the influencer life, consider collaborating with a brand and getting paid to promote products and services. It would be best to be transparent and authentic with your audience and partner with brands you trust and love.
According to Passive Income MD, blogging is a lucrative way to earn passive income in the healthcare industry with some hurdles. A blog is a series of informal online entries on a website with valuable content for readers, and experienced African healthcare providers can benefit from. If you can educate the general public about general healthcare strategies in writing, consider blogging.
The idea is to earn a significant revenue stream by monetizing blogging and earning a decent living every time readers click on advertisements on the website. However, don’t allow too many ads on one page to avoid spam.
Start a YouTube channel
According to Shopify, starting a YouTube channel is rewarding for healthcare professionals and an ideal side stream of income. African healthcare professionals can generate income and earn a living by creating a YouTube channel with valuable content. If you can create medical video content for patients and communities, consider creating a YouTube channel.
Moreover, YouTubers make a decent living on the platform by creating and editing videos before uploading them. You get paid based on views, so consider amassing followers by leveraging social media platforms for ads to grow your following.
Create an online store
Starting an online business in the healthcare niche is rewarding for professionals, according to The Balance Small Business. It is one of the most profitable niches since the invention of the internet, and African healthcare providers can benefit from it. If you like working with your hands and crafty, consider starting an online store in the health niche.
The internet is a marketplace of endless possibilities, so earn money selling hats, t-shirts, pens, stickers, and health products. Additionally, consider supporting other medical professionals and therapists by collaborating with different services and brands.
Create an app
According to HealthWorks Collective, creating an app that solves medical problems for individuals and communities is a lucrative investment. Skilled African healthcare providers with experience in computer programming can benefit from this strategy. While great app building tools can bring your concept to life, experienced healthcare providers can hire professionals to create the app.
Consider building an app that solves a specific problem and monetizing and advertising on various platforms. Moreover, promote your app offline and online to increase your revenue without national barriers.
Own a rental
According to the Chief Healthcare Executive, owning a rental is ideal for healthcare professionals to maximize profitability. Real estate investment is a profitable option for healthcare professionals, suitable for Africans. If you want to generate passive income by doing less clinical work, consider investing in real estate.
African healthcare providers seeking financial independence from clinical work can generate income through leasing. The idea is to buy a building, find a tenant, and enjoy passive cash flow when your income exceeds your expenses. They lose their best worker.
As an African healthcare professional, you can generate additional income by selling digital products, doing affiliate marketing, collaborations and sponsorships, and blogging. These ideas are lucrative and provide lucrative opportunities. However, it is advisable not to simply choose a passive income idea because of its money-making potential. Instead, think about selecting the ones you are passionate about.
*Views expressed in this article are those of a Business Insider Africa contributor. It does not represent the views of the Business Insider Africa organization.
Olayinka Sodiq is a skilled copywriter with technical, analytical and writing experience gained over 5 years of in-house and freelance gigs. He is versed in finance, investments, technology, blockchain, mergers and acquisitions, bankruptcy, etc.