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In this blog post, you’ll discover three ways to create passive income online. We love residual income, and we’ve been looking for the means to create it ever since we found the concept. It’s a wonderful feeling to be able to wake up and know that you’ve made money while you’ve been sleeping. It almost sounds too good to be true but believe it or not, there are a lot of ways to create passive income streams online.
You Work Once And Could Potentially Get Paid For As Long As You Live
When creating a passive income stream online, you’re working or paying someone else to do something without any immediate reward. You don’t get paid for the hour that you’ve put in. You might not get paid at all for the work you’ve done. But if you’re following a proven method and do it the right way then your work could potentially earn passive income for a long time. For example, Elvis Presley’s music is still producing passive income even though he’s not alive anymore. Let’s go over what I believe to be the top three ways to make passive income online.
#1 Make Passive Income Online Through Self-Publishing
You either write the book yourself or hire someone else to write the book for you and then you publish it on amazon.com. Ghostwriters write most of our books.
The great thing about self-publishing through Amazon is that you can diversify your income. For example, you first publish a Kindle book. Then you can sell the book as a paperback book through CreateSpace. The third way to leverage the content that you’ve already created is to turn the book into an audiobook with ACX. As of this moment, we’ve been able to turn more than 60 books into audiobooks for free. Now, you can also sell the book as hardcover books and CDs as well. I hope you can see that there are many passive income streams connected with self-publishing.
#2 Creating a Video Course To Make Residual Income Every Month
We were looking at creating video courses to make passive income online before we started with self-publishing. Creating a video course can be an excellent choice for you if you have some knowledge that other people want. You can create a course on weight training, dog training, surfing, social media, etc. The list is endless. Again, you spend time once to create the product and then it might give you a passive income for years to come.
It’s easy to sign up as an instructor on Udemy.com. You do have to have an individual video and audio quality to be approved by Udemy, but I think that you can buy a great microphone and camera equipment for less than $100. It’s common to do screencast courses which mean that you record your computer screen. It can either be powerpoint presentations or a step by step course on for example “How to create a web page with HTML”. Other ways to publish your video course is to put it on marketplaces like Clickbank.com or JvZoo.com.
#3 Create a Passive Income Stream with Affiliate Marketing
Affiliate marketing is an excellent way to make passive income online. Affiliate marketing means recommending other people’s products and receiving a commission if they buy through your affiliate link. It’s a beautiful business model because you’re not selling anything. You’re just recommending a product that you have used and enjoyed. You don’t have to spend any time to create a product and neither do you have to deal with any customer support. I think that you’d be amazed if you knew how many products that you’ve bought that probably has an affiliate program that you could join. Create a blog on a topic that you’re interested in and begin to share your knowledge and experiences. Then from time to time you could link to a product that you’ve bought and recommend. You create the blog post once, and could potentially earn money for years to come.
Now, you don’t necessarily have to create a blog on a particular topic. A lot of people create blogs to write about their life. If you’re following a blog like that, look for blog posts where they share a product that they’ve used. If you look closely, you’d probably discover that there are monetizing the blog through some affiliate marketing. Blogging and affiliate marketing is an excellent way to create a passion based business.
Now, let’s say you don’t enjoy writing but still would like to do affiliate marketing. Well, if you could attract people to follow you on a social media channel like Youtube, Facebook or Instagram you could probably do great with affiliate marketing as well. One thing that a lot of people say is that the money is on the email list. I’d argue with that and say that the money is not in the list. If the money were in the list, spammers with millions of email addresses would make a lot of money. The money is in the relationship with the list. So keep in mind that you don’t need millions of followers to make a lot of money.
Here’s Why I Choose These 3 As the Top Ways to Make Passive Income Online
Believe me; there are much more ways to create passive income online. But, there was a reason why I choose these three to be at the top. I know for a fact that all of these ways have made people millions of dollars in passive income online. But there is a deeper reason that I think you’d find exciting.
What if, you could connect all these ways of making passive income online? Yes, that’s right, let me explain. Let’s say you begin with self-publishing like we did. You create a lot of books on topics where there is a market. After a while, you discover a niche with a large demand that you enjoy yourself. Well, then you could funnel those readers into an email opt-in page by giving away something of high perceived value in the Kindle book. All of a sudden, you’re able to have direct contact with those readers. Now you can promote your blog, your video course or affiliate offers.
One thing that I see that a lot of video course creators do is that they provide affiliate links in their video course. For example, if you’re teaching someone how to create a website, then you could put an affiliate link to Bluehost which is a hosting company. Instead of writing about all the connections you can have, let me just show you the what the spider web could look like:
That’s a million dollar online business formula right there. Of course, there are some components that you have to take into place as well. For example, you must make sure that you’re targeting a crowd that is hungry for what you have to offer.
Now, market research is something that I’ve total certainty that you can master if you haven’t already. I’ll make sure to create some blog posts about keyword research. I’ll not only show you how to learn it on Amazon and Kindle, but also on Google and some different marketplaces. You also want to provide value to attract followers. Give them “cool stuff” for free as Frank Kern puts it.
Thanks for reading, please share this post with anyone that you think will like it.