Considering that you have a finite amount of time, passive income should make up a large part of your work. If you're serious about generating any semblance of income online, then passive income should be one of your sole goals and ambitions. Why? Wouldn't you prefer to do the work one time and get paid repeatedly as opposed to relying on your time to generate that income? Invest the time at the front-end so that you can reap the benefits on the back-end. This means putting in a bit of sweat equity and not getting paid today. Rather, you'll get paid somewhere down the road. And you'll continue getting paid whether you keep building that passive income stream or you stop. 

This is excellent and should be intuitive for marketers (and SEO pros are marketers!) but we often take the short cut and neglect critical details. What would also reinforce the strategy is way of providing solid projections for SEO (these could be based on industry trends and statistics). Clients now ask for ways to calculate ROI and they need numbers to get budget approvals. Increase in traffic by X,  increase in qualified traffic and leads, conversions etc, some way of quatifying the expected return.
You can absolutely use websites like eBay and Etsy! Try listing some items and making a professional Facebook page for yourself with a link to your eBay/Etsy pages. Then share the information with friends and family and get them to spread the word to people they know. Also, make sure that you have detailed descriptions and multiple pictures with anything you list online. This will help your listing show up in keyword searches, and you are more likely to sell something if the buyer knows a lot about what they are looking at.
2. Targeted Keyword Discovery: Ideally you’ll want to do keyword research based on what the audience wants, not solely on what content the site already has (or plans to have sans audience targeting), which may be limited. I can do keyword research on health conditions and drugs (content I have on my site) and determine what the general population is searching for and optimize my current content, or I can cast my net wide and look at what my target audience wants first, then do my keyword research. You may find there are needs that your site is not meeting. Knowing my senior audience is interested in primarily in prescription drug plans and cheap blood pressure medication, I can first make sure I’m providing that content, and then further determine the top keywords in these areas (in the next article Step 2), and use those terms in relevant and high visibility areas on my site.

Keep in mind though, you don’t need a website to do sponsored content since you can also get paid if you have a lot of social media followers. My wife has a pretty big Instagram following, and she gets all kinds of sponsorships. Not only does she get paid in cash, but we get a lot of free stuff, too. We’ve received free rugs, free lights, and free carpet cleaners. She only promotes things she loves though, so this strategy works really well for her.

Using several strategies for product promotion is a very good idea because it gives you the opportunity to know which of them works better. You can do split testing and measure each campaign’s performance before taking the appropriate action. Changing a couple things would raise your profit. Banner ads should be placed on different areas on the pages of your site because there are some strategic points that will catch your reader’s attention.
Write pitches. If you have located a client for whom you want to write, send pitches, which are topic ideas for articles. Write pitches that not only show your expertise, but also demonstrate your enthusiasm for the topic.[21] First, read the publication to which you are sending pitches to familiarize yourself with what they publish. If applicable, identify a specific section and send our pitch to the appropriate editor. Also, include a brief summary of who you are.[22]
Consider selling in lots. A lot is a collection of similar items that is sold in a group. For example, if you have a collection of books, magazines or similar pieces of jewelry, consider selling them all at once in a lot. You many not make as much money as you would have if you sold each item separately. However, the items will likely sell more quickly in a lot than they would individually.[29]

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