7 Passive Income Ideas to Work on While Quarantined (That Earn $1,000+ Per Month)

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– Seven passive income ideas
that can help you generate an additional $1,000 a month. (dance hall music) Hey, this is Peng Joon here and today in this video I'm going to be sharing with you seven things that I have done that
helps me get at least $1,000 a month very conservatively, and what you need to be
doing if you want to build up these passive income streams. Before I even begin, the first thing I want to do is I need to define what the term Passive Income really mean. Because every single
time in previous videos, whenever I talk about
the term passive income, sometimes I have people saying, "hey bro, that's retarded,
that's not passive "because that actually required work." Let's hold… Let's pause for a second. Do you actually think for
those of you that think, passive income is just what, you don't have to do anything and you just hold hands stand in circles sing Kumbaya and
income actually happens? The only way to actually build up a true passive income source is either by you investing
one of these two things.

It's either by investing money, a huge capital or some
sort of capital upfront, so that with that capital
it gives you returns like stocks where you get dividends or property where you
get cash flow and rental. Or number two, you start
off by investing your time. The only way to get passive income, let's get this definition right first of getting passive income is
by building up this asset, so that this asset gives you
passive returns over time. And the only way to
acquire this initial asset is by first investing
your money or your time.

But for the purpose of this video, we're not going to be
talking about passive income by putting in money or capital. I'm talking about how
do you actually build something up even if you
have no money right now, so you have got no money right now, your only other option is to build up something utilizing your time. And with that initial time, that is when it compounds over time to build you these passive
income revenue streams. Does that make sense? Let's begin with number one. Number one that has served me really well, number one is books. These books has generated
me millions of dollars. I want to show you how you can do this part here differently. Most of the time you'll think about books, they think about creating a book and selling it on some bookstore or listing on Amazon. And while that might work, we need to understand that
chances are if you write a book, your book is not going to
be the next Harry Potter and chances are it's not going to be next "50 Shades Of Grey" or
Nick's "Rich Dad, Poor Dad".

What books are great for, number one, sure it helps with
branding and positioning. But number two, it is used as a great way to pull people into your sales process. Into the thing that you
actually want to sell. And when people buy the book, that is where you are now building a list, you're now having upsells, you now are able to pull
people into your world so that, that book can act as a passive income stream for you in terms of your
sales as well as the return. That being said, I know what
some of you are thinking, "well Peng Joon." First of all, writing a
book seems really hard.

I'm not a writer. Look, I get it. But what if I told you that
the books that I have written, guess what, I got a
professional to write it based on my story, my
voice and my message. Guess what, here's the trick. If you're like me and
you're good at writing, speak your book. That's what I did. For my books, what I did was pretend that you are about to give the most important speech
or Keynote in your life around that specific topic. For example, let's take this book content "Multiply Formula". I was speaking at this
event, "Funnel Hacking Life", at this event, when I
delivered the keynote, you know what I did? I took that presentation, I passed it to a writer for my team, and you can outsource this. There's a lot of freelancers out there that's good at what they do and do and write books for a living, and pass this training over to them. What can you do to build
this first initial stream? I don't want you to just go
through these seven streams, but I want to go deepest of the detail.

What you need to do is
shoot a video like this one, stand in front of the camera, but before you actually do that, just imagine that that
presentation could be one most important presentations in life. And you actually teach
in front of the camera with your story, with your framework, with your strategies in one hour, in 90 minutes, in two hours, and you pass it to somebody that actually writes books for a living. Now Guess what? This book even though it's ghost written, it's still based upon your story, your teachings, your principles, that is congruent with who you are, as well as your personality. That's number one. Books are a great way for positioning, for branding, for getting new leads, as well as getting you
passive income over time. Number two is building
up a YouTube channel.

Guess what, that's what
I'm doing right now. And when I say YouTube channel, there's a few different ways to generate passive income from it. Number one, you could
be and take that journey of getting millions of views and monetize through
ad revenue, that's one, which is not the route that I'm taking. Or you could utilize that as a way to get visibility so that
you can take those views and funnel people off somewhere. Where do you send them to? Well, it depends. For example, a video like this one because I'm constantly talking
about online marketing. I am sending people to my products. My courses, my membership sites, or sometimes I'm sending people
off to different software's and tools that I might be
using in order to generate an affiliate income, which is, by the way, what you need to be doing in order to generate passive income.

Number two is think about starting a YouTube channel and delivering value, either and monetized by either, ad revenue from the views
where YouTube runs ads and gives you a percentage
of how much they make, or to have links. And that's going to bring
me to my third point to either your third your own products, or somebody else's products in order to generate affiliate
commissions in return. And that brings us to number three. Number three, the third way
to generate passive income every single month is affiliate marketing. Number three is about creating and promoting an affiliate product. This could be a physical product that is sold on Amazon they
are free affiliate program is called Amazon Associates
where you can literally promote anything that is sold on Amazon, where they will pay you from
about four to 8% on average.

Recently they changed the
price structure a bit, some is a little bit worse off right now. Some remain the same, but approximately four to 8% promoting any type of physical product that is sold on Amazon Associates. Amazon Associates is
the affiliate program, you can sign up for that and guess what? As you are creating content on
Facebook, YouTube, Instagram, every time you create content, you're now sending people off to programs like Amazon
for physical products, programs like Clickbank
for digital products, or this could be specific
E-commerce products or even software's or services in your specific niche. Let's say you could be in gardening, all you need to do is typing on Google. Type in gardening affiliate program and see for yourself all
of the different results for gardening affiliate program, then start seeing and getting ideas on oh wow, there's a course
on say Bonsai gardening somebody else created that you could be promoting in order to get a commission. This could be physical products,
this could be a service, all you need to do is look
out for the different programs in your niche that has got an affiliate offer attached to it, so that you can start promoting
somebody else's product in order to generate
affiliate commissions.

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That's number three. Number four is selling
your own online course. And this is something people
have told me in the past. They said, "you know
what, Peng Joon selling a course is not a real business. For one, let's take a look at the definition of real businesses. A lot of times you will
think that a real business you got to be in a brick
and mortar business. You got to be in retail.

You've got a physical store,
which to me is insane. You know why? If you take a look at what's
happening world right now, what are the types of
businesses in the middle of this corona virus crisis
that is being affected the most? It's the real businesses. It's retail, it's brick and mortar, it's the people in the malls,
that's being hit the hardest. To me, if you think
about an online course, it's got the highest margins, there's no cost fulfillment
is just like that. And that is the reason why
even in a time like this, this is like what, they
35 of being quarantined, you can see my hair is all
over the place right now.

And my business affected why because my business is
heavily focused on digital. And in fact, this month
is one of our best months because all the more consumption and attention online is pretty much an all time high when
everyone is stuck at home. That's number four. Think about this, if you want to sell an online course the way to be successful
is not about information because information is
freely available anywhere. The reason why people pay
you money is number one, you are going to significantly shortcut and compress their learning curve so that they don't have to go through the 10 years, the five years, the three years that you went through, but the key here is
helping them get results.

And that brings us to number five. Number five is membership sites, something that is recurring in nature. For number five, this
could be your own product that you create where people
have to pay a recurring fee every single month to
be part of that program. Remember, affiliate marketing, you could be promoting
somebody else's product that could be recurring. This could be a software that's recurring. This could be supplements
that's recurring. This could be a membership
site that's recurring, where they would pay you
a commission as long as this person continues
being a recurring member. Just think of it as number one. Can you have some sort
of pain of disconnect? Can you imagine if right now, Facebook started charging
$1 every single month.

If you don't pay this $1
a month or $10 a month, you will lose access and all of the images and videos
that you've ever uploaded. Would you pay this $1 or $10 a month? Most people would. That's pain of disconnect. Can you have some sort
of pain of disconnect where they stopped paying,
they will lose that data, they will lose access, and it's
painful to lose the access. Can you think about the community? I know that I definitely went when I was a hardcore gamer and let's playing "World of
Warcraft" every single month, I was paying like 15 bucks a month.

At one point in time. I wasn't really playing the game anymore. I would still be paying every single month because of the community honestly
like a guild and Alliance. And I felt like I didn't want to cancel because I would lose that
connection with my online friends. Number six is E-commerce. You already know this. But if you take a look at the businesses that is not just surviving but thriving right now,
the E-commerce businesses. Right now, the whole
virus has actually proved for a lot of different businesses, their business model is currently broken. And right now, the new
norm is that if a business is not able to pivot online or have some sort of sales process online, they're being hit the hardest. And right now what if you
could develop this skill of selling products online? This could be by you sourcing products and delivering it via Amazon. Or this could be you setting
up a simple Shopify store to sell merchandise, to sell
jewelry, to sell clothing, but Shopify as well as many other sites, has actually made it super
simple to deliver goods, to track it for fulfillment, to sell it as well as the setup without being programmer or coder.

That's number six. That will be number six, which is E-commerce where you utilize one of these different platforms
to build up an online store so that you can start selling products to build a passive income stream. But before I go on to number seven and I mentioned my favor and
show you how that's done. By the way, let me know
in the comment box below what your favorite one is so far, and as always make sure
you hit the slight button. For more videos like this one, it does help the channel out a little bit. Number seven is automated webinars. That's right webinars or presentations that could run every hour on hour or once a day, where it's basically a presentation, a pitch, that you created
once in your life. It could be a 90 minute pitch
where you actually teach and offer your audience amazing value and at the end of it all,
offer something for sale. It's passive because the
sales process works for you.

24 seven as well. We got this quick sale or sale, could come in when you're
asleep at three in the morning or seven at night when you're
out with friends and family. The world's on lockdown right now depending on when you're watching this. Auto mated webinars is a
great way where you create a presentation where you tell your story, you give them amazing value. So that even if they
don't buy, they felt like, "oh, wow, I got great
content from that webinar, and at the end of the webinar, offer something that the
audience can actually invest in. If they want to learn more,
or discover more about you, as well as your process.

That would be number
seven, automated webinars. Let me know in the comment box below which one you like the most. I hope you like all of
the different ideas. But the most important thing guys, is to actually just start with one, implement and focus until
you actually succeed and start getting results. Until then, make sure you
watch my other videos, subscribe to channel if you
haven't already done so, and I will see you in the future videos.

As found on YouTube

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