9 Ways I Earn Passive Income Online (Different Business Models)

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hey in this video I'm gonna give you nine different examples of ways that I generate a passive income these are things that I built in the past that I hardly touch anymore yet continue to generate an income for me over time running it very specific here looking at specific businesses specific websites specific business models I have a lot of links down below from other videos are gonna teach you a little bit more about begins and outs of each of these models but I just wanted to share these examples so that you can inspired by them and perhaps use these as a starting point or foundational items for you to make passive income streams of your own number one food trucker calm this is an authority website meaning it's a website specifically for a certain group of people and those people are food truck owners or future food truck owners this was built in 2012 and over the last three years I haven't personally added any new content to this website I now have a team of writers that add content every single week but at the start it was little bit difficult to put up because I am NOT a food truck owner myself which is really interesting so how did I discover what content to actually put on here what was done by doing a lot of research and having a lot of conversations with people and I don't pretend to be a food truck owner on this website but I do position it as myself as somebody who's putting in all the time and effort and research into finding all the information that's needed to help a person either get started in the food truck world or help a person who is a food truck make more money within about a year this website starts to rank really high for key terms like how to start a food truck and food truck business plan and as a result currently gets anywhere between twenty-five thousand and fifty thousand visitors per month which is really cool now most of its income doesn't come from the small amounts of google adsense and advertising opportunities that there are it actually comes from two books that my team and I created and sold on the website these are ebooks so they're automatically delivered over time as people buy them one of them is called has started a food truck the definitive guide and the other one is called the food truck growth kit these are resources the first one for people who are starting the second one for people who have started and it continues to provide an income for me every single month second thing I'm gonna share with you is security guard training hq.com this is the website that was actually built back in 2010 as a result of very similar a challenge somebody challenged me to build the website I got it to rank number one in Google in 73 days for the term security guard training and then immediately added what's called Google Adsense on the website that's a way to generate an income through advertisements that Google will place on your website auto-generated from the content that is written on that page and since then it has generated over a hundred thousand dollars in advertising dollars now it's only a couple thousand a month it has gone down a little bit over time as there's been more competitors but you know what I haven't even touched it in the last three years there's only a finite amount of information that's needed to help a person become a security guard now there are different rules and procedures for different people depending on what state in the United States they live in so that's actually how I created the content I literally call it security guard training companies because I'm not a security guard myself – I called security guard training companies from all the different states and I asked them hey how do I become a security guard took it took that information but on the website and now people find on Google and I can help them out which is really cool so yes you can generate an income by creating websites about things that you aren't necessarily passionate about now I'm not a security guard myself like I said nor I'm a food truck owner now I do love food and fun fact my mom is actually a security guard which is kind of cool but I would recommend that you look for ways that you can generate an income through the passions and the skills that you do have which is where this third example comes in in 2012 a couple years after I started podcasting I wrote an article on my blog smartpassiveincome.com about how to start a podcast a comprehensive free guide on exactly how to do that now this free article makes money in a number of different ways number one it makes money through affiliate revenue meaning it is recommendations of different products that I use as a podcaster that I share with other people if they go through my affiliate links on that website say for example for microphones or other pieces of equipment or software then I get a commission from the owner of that company number two I am building an email list from this particular article which means that I get subscribers who I know are interested in starting a podcast and then I could potentially sell them one of my online courses like power up podcasting to help them a little further if they want to go deeper with me and then number three I also sell a software that my team and I created called a smart podcast player on this page – it's a podcast player that you can put on your website make sense for people who are starting a podcast to get this so of course I include that on this page – and although this resource is absolutely free and can actually use the whole thing without paying me anything it does add to my income streams every single month so number four let's talk about that piece of software the smart podcast player that my team and I created in 2014 what's nice about software is you create it you code it up and you get it to work and then you can sell copies of it essentially over and over and over again which is really cool it can generate a passive income for you but I will say software is not an easy thing you need to find the right developers I've made many many many mistakes in the past hiring developers just because they were cheaper because I didn't do enough research and you know if that didn't work out very well I lost tens of thousands of dollars by not approaching it correctly but in addition to that there are compatibility issues there are people who don't know how to use software there is different WordPress themes if you're gonna create WordPress plugins things break things need to be upgraded you need customer service so there's a lot involved it's not very passive at all actually unless you hire a team and a project manager and other people who can do this for you and in that way I actually haven't done much to upgrade this plug-in myself because I don't code it I don't know how to code myself I found a good developer and number two the customer service is taken care of by my team and not by myself too so software can be a great opportunity for you but it's a lot harder than you might think just make sure that if you do hire a developer of some kind please please please make sure you wireframe exactly what you want so they know exactly what you want and there's no guessing and you're just gonna have a better experience if you do that number five now instead of creating your own software perhaps you use software that already works you can create demonstrations on how you can use that software put those on YouTube put those on your website and you can generate an affiliate Commission as a result of those recommendations and demos I've created many demos in the past one of my most successful ones as of late is a demonstration video I created for convertkit which is the email service provider that I use and I love I'm an affiliate for I'm actually now an advisor for the company too this video on youtube has been seeing nearly 30,000 times I think I'm not exactly quite sure of the number right now but it is something that shows people what they're gonna get before they get it and that's the secret to affiliate marketing showing people what their going to get before they get it that way they see it hopefully they see how easy it is to use and what it can do for them and they're gonna be likely to if your link and give you a little bit of Commission as a result alright number six books writing books and putting them on Amazon or selling them through your own website is a great way to generate passive income because you write that book once and you then sell it over and over and over again now it's obviously very easy to say that and not always very easy to accomplish I'm very lucky that I have an amazing audience many of you have purchased my books which is really cool I'll put links to those books below but books are great because they can position you as an authority even if you don't sell any if there are two identical brands and one of them has a book and one of them does not have a book people are likely gonna trust the brand that actually has the book plus it's something that you can add for example to your email autoresponder it's a low priced item relatively speaking that you know a lot of people love to get because it's a book people out of reading books especially if it produces a specific outcome or transformation for them my very first book was called let go is just an e-book that was written and published on Amazon it was about thirteen to fifteen thousand words so it wasn't very long yet it still was able to help me generate $2.99 per sale – if you publish on Amazon they take 30% also so again we're talking small dollars here but over time it does add up but more importantly it did help build the relationship that I have with my audience and help people understand my story a little bit more now a more successful book related story that I have is with my other book will it fly which was sold both as a physical book and an e-book the physical book was still passive because it was run through a site called create space which allows you to sell physical books by printing on demand they print those books as they are purchased versus you having to house all those books and ship them out yourself Amazon will do the fulfillment for you and then you do a rep share with them a 70/30 split at the time that we were quoting this video right now and of course there is the digital version of that as well which has been sold for about $6.99 and the audio version that is sold on audible there's a website at AC XCOM which is where you go to set up your audio version of your book currently every single month I make about a couple thousand dollars from the digital and print version and a couple thousand dollars from the árbol version so as you can see I mean they're right up there against each other number seven we have podcasts advertising now if you have a podcast you're likely going to continue to record that podcast this is in the sense that you're working with a company who wants to get in front of your audience so they'll pay you to save a few things here and there throughout your podcast episode and then since you're recording the podcast episode anyway you just add a little bit more and boom you're making money through advertising now you do have to pay careful attention to who you're advertising with and kind of what does that say about your brand obviously there's a lot of companies out there that want to get in front of a big audience and not all of them may be the best fit for your people so just keep that in mind but podcast advertising if you're podcasting anyway you can get some ads in there and make some money too currently my show asked Pat it gets anywhere between 500 to $2,000 per episode and when I have sponsors on my other show smart passive income because of the volume I'm getting anywhere between 3,000 and 6,000 dollars number 8 let's talk about tickets to events some events will give you a commission if you help sell more tickets and if you're speaking at an event or you're gonna attend anyway you might as well share that with your crowd or your people your followers and you can get paid a little bit of Commission a chunk of the overall price of that ticket that can go into your wallet this could be easy low-hanging fruit for you what I would recommend is if you are going to any events and you want to make sure that you can potentially make money by bringing other people with you check with that Event Director or somebody who works at that company to see if they have an affiliate program and if they do they'll supply you a link that you can then share with your people I do this quite a bit with some of the events that I often attend and sometimes I can make anywhere between you know $15 per ticket and sometimes up to a hundred depending on the price of the event and again this is one of those examples where while you're doing it anyway you might as well just do a little bit of extra work upfront just even get paid for doing what you're already doing number nine if you are participating in any courses or programs or workshops or anything like that one thing that you can do is if you have the ability to become an affiliate for there things similar to the event thing you can bring other people along with you and a good example that was from my past was and this is something that happens every year I purchase Michael Hyatt scores best year ever it's an online course that helps you set up your next year for success and I traditionally take it every single year it's great to help me structured my year properly it's what helps contribute to a lot of my success over the years and every single year I invite others to take it with me it's not my course so I'm not promoting my course and it's not just I'm sending people away and they're never gonna hear from me again we're all gonna go through it together this has worked really well because when you share that affiliate link and people know that you're gonna be there with them whether it's in a Facebook group or you're sticking it via email however you want to structure it people feel a little bit more secure with moving forward and purchasing that thing because you're gonna be there with them I've made tens of thousands of dollars by promoting Michael Hyatts course while also taking that course myself too which is really cool so one thing that I do every single year to help promote that is I either have Michael come on the podcast or I talk about my experience with goal setting and planning for the next year and we talked about it and it gets people really interested in that and I mentioned that hey I'm gonna be taking this course best year ever if you'd like to take it with me to sign up through my affiliate link here and everybody wins so there you go those are nine different ways that I generate a passive income online either by just making money through the things I'm already doing anyway or by setting things up up front and then making money from them again and again again over time hopefully that gives you a lot of motivation and inspiration to move forward I have a lot more content about passive income you'll see in the cards in just minutes and also in the links below but of course make sure you subscribe to the channel if you haven't already make sure you click that notification bellow because you can get notified when new videos come out and potentially when an SPI pin if you comment within the hour as well and I'd love to hear from you in the comment section below which one of these nine sort of strategies or methods or examples is the most inspirational to you I'd love to know which one you might be taking with you moving forward in your own special way so I want to wish you all the best of luck keep coming back to the YouTube channel because we got a lot of great content to help you take maybe one of these things expand on its scale and grow and hopefully build a business that you love and can grow with thanks so much I appreciate you and I'll see you the next video

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