Imagine getting paid while you’re asleep, out with friends, on a date,
or even while you’re on the toilet.
So today I’ll be talking about the Top 10 Ways to Make Passive Income Online,
so you can get paid again and again for work you only did once.
Now if you came here to find out how to get rich quick fast then this video is not for you.
I’m not gonna be one of those internet gurus
that will sell you that idea that passive income means not having to work or get up early.
Because in reality, it’s gonna be hard work, but in the end it’ll be worth it.
Now passive income is nothing new. The top Fortune 500 companies in the world are making Passive income right now.
Even Elvis Presley whose long gone, but his family is still making money today from his music.
You just need to change the way to think about passive income, so you don’t think of it as a scam or a myth.
But today my goal is to simply help introduce a door that you may have not known existed.
First is Affiliate Marketing. If you don’t own your intellectual property it’s okay.
You can do what’s called affiliate Marketing through Amazon, Blue Host, Go Daddy and so many others.
Now I know I’m shamelessly self promoting,
but if you want to learn how to create hypnotizing whiteboard animations like this, then you could use my affiliate link below.
Now ethically, I personally believe you should only do affiliate marketing,
in products and services you believe in, that creates win-win situations, and preferably things you personally already use.
Like I’m sorry for all the hard working Taxi Drivers out there, but one of my favourite apps is Uber.
And if you sign up with my code, you end up with a free ride up to $15 (USD) on your first use.
By just occasionally tweeting my code, this has now allowed me in the past few months to navigate around my city almost for free.
But affiliate marketing is something anyone can start taking advantage of.
Lastly, I put amazon links all over the web and what I love about them,
is that they pay me commission even if the customers bought a frying pot or something completely different
Amazon is just happy that I brought someone to their site and got them a customer.
The 2nd way to make passive income is by making your own product, like writing a book.
Or perhaps you’re great at making music using Garage Band or FL studio.
You can sell books, music, videos and apps on places like Amazon, iTunes Google Play and the App Store.
The 3rd way is by Selling your licensing rights
The person who wrote the Martian put his book online in his website for free, because no company would publish it.
But his fans demanded he put his book on kindle,
and what happened is that more people bought the book on amazon than simply getting the free one.
It became an Instant Amazon Best Seller.
Then all the companies that mocked him, came crawling back, offered him a deal, and that’s how the book came out to print.
But then later he sold the licensing rights to make the movie
Number 4 is Selling Stock resources like video, audio, and photos.
Marketers buy stock resources all the time. Like I am no artist.
Yes I’m slowly getting better using Adobe illustrator, but I can barely draw a stick figure in real life,
so I sometimes buy stock images online for these animations.
Marketers could buy stock images for print ads, their websites, banners or billboards.
Marketers are always looking to find stock resources that are royalty free.
You can even sell banner ad templates, website templates, or even landscapes if you’re a photographer.
You can put stock resources on iStock, Graphic River, or AudioJungle just to name a few.
Number 5 is through Online Advertising like with Google Adsense pay per click.
Now you’ll only make pennies through each click,
but if you have enough content in many places, it’ll all add up.
This is really great if you have a blog and if you combine it with affiliate marketing banner ads.
The 6th way is though Direct Video Marketing
You can make videos, then upload them to Daily Motion or Vimeo which have paid on demand.
You can also use sites like Udemy and make online courses and teach about almost anything you’re expert in.
Then there’s of course Youtube, which is connected to google adsense.
And if you have a message to share to the world then consider becoming a Youtuber.
Believe me, it’s not too late to start.
The 7th way to make passive income is through sponsored content.
There’s people who will pay you in terms of how many views or downloads that you get for your content,
whether that’s a video, blog post or podcast.
There’s also people who would rather pay you a flat rate.
This is similar to affiliate marketing, but instead of going to the market, you have a direct deal.
The commission on this could be much higher than affiliated marketing, which is usually only from 4-10%.
Next is through Joint venture partnership
If someone is launching an online course and you’re a JV,
you can sell on their behalf and they can give you up to 20 to 50%.
Now why would they give you this much?
Well it’s much harder to sell than what people think.
I would rather have 4 people selling for me and getting 50%, than me working alone and keeping 100.
You can even do a quick google search on whose looking for JV partners.
A 9th of way making money online is through network marketing.
I’ve done this in the past and it’s actually how I got introduced to reading books, sales and self help.
My parents were fortunate enough to be successful in it
and I learned a lot of valuable skills to add to my tool box in my 3 years in the business.
And I even had a chance to meet and learn from Tony Robbins, Darren Hardy, Donald Trump and Robert Kiyosaki.
But with that said it’s definitely not for everyone.
I highly suggest you do a lot of research before joining one,
and really take the time to understand the compensation plan,
like how exactly you earn money, as well as the products and services you’ll be selling.
There are a lot of scams out there.
Lastly is through Patreon.
if you have a fan base of any kind, then you can ask them to support you monthly or per creation you do,
and give different levels of rewards depending on how much they pledge.
I would suggest you go per creation rather than monthly,
as it will motivate you to work harder, and your fans really don’t deserve to be paying you monthly if you’re just being lazy.
They also have the option to set a budget, so they won’t ever pay more than what they can afford.
With that said I have recently launched my own Patreon for this channel,
and if any of my tips from this video and my others were helpful to you, then any support would be much appreciated, even just $1.
I would eternally be grateful.
But regardless if you pledge anything or not, I will continue to keep making content as long as I can.
You can check the site at my descriptions below, to at the very least explore how the site works and to setup your own.
But I want to give a special thanks to Adam Torres, for being my first Patron.
He’s a brilliant entrepreneur who was semi-retired at age 26.
I highly recommend you check out his book Money Matters: 21 Practical Lessons For Everyday success and visit AskAdamTorres.com
Remember I’m not saying that passive income will allow you to quit your day job,
it’s possible and that’s the dream for me, but it’s a lot of work.
This is not a get rich quick scheme. But it can definitely help give you that raise you deserve, that your Boss just won’t give you
And if you say you don’t have the time to make passive income, then I say, that’s exactly why you should.
Because in the long run, building passive income will give you money and your time back to do the things you really want.
But I want to know in the comments below, what’s your favourite way of making passive income?