how you can start creating additional
sources of income for yourself starting
today
[Music]
the average millionaire has seven
sources of income and today we're going
to be talking about why the key to
becoming a millionaire we're financially
free is having multiple sources of
income but more importantly we're going
to be talking about how you can actually
start to implement that for yourself
today the traditional model that we all
learned in school is go to school get
really good at one thing and then get a
job doing that one thing as your sole
source of income but something that
that's very important to understand the
difference between is working for your
money or letting your money work for you
there's actually a third solution that's
even more important which is creating
automation right doing work one time and
allowing that work to continue to make
you money more and more money down the
road and not require any additional
manual input on your behalf and so in
about extensively how to actually set up
and create multiple streams of income
fully automated income so that you can
do the work once and then have that work
continue to generate you more and more
money down the road for years to come
requiring no additional work from you so
let's get into talking about my five
different sources of income that I
currently have right now and more
importantly how you can actually
replicate and start to generate these
sources of income for yourself so
something that's very important to
actually understand about all of this
right living in a capitalist society
where things cost money and you need to
earn money to actually afford to be able
to buy the things that you need and live
the life that you want is you really can
fall into four different categories you
can be an employee meaning that you have
a job you can be self-employed meaning
that you own a job you can be a business
owner meaning that you own an automated
system that makes money for you or you
can be an investor meaning that your
money works for you and when I
originally graduated from college I had
absolutely no idea about all of this
about passive income about the four
different steps of being an employee
being self-employed right owning a
business or being an investor I really
only understood the one model that
society and school had taught me which
was go get really good at one thing and
then get a job doing that one thing and
have that one job be your only source of
income
when I originally graduated from college
I was working as an accountant 80 hour
weeks inside of my cubicle doing the
same thing over and over and over again
Monday through Friday every single week
after week after week and that was my
sole source of income right my only
source of income
luckily for me I was living in Silicon
Valley when I was working as an
accountant so I constantly was hearing
about all of these people who are
creating apps or websites or doing
things on the computer and becoming
millionaires doing those things and so I
started to research you know what type
of side hustles or what things did I do
on the side while I was working my job
as an accountant so I could start
getting involved and start to become
like all of these other
multimillionaires that I was hearing
about every day in Silicon Valley right
and I could maybe create the next app or
figure out ways to earn passive income
so that I could at least have more time
to spend with my friends and my family
and so I started to research and
research because I knew if all these
other people could do it then there's no
reason why I couldn't - and all that
research started to lead me to Amazon
right I personally buy toothpaste on
Amazon toilet paper my groceries and
most of my friends do the same thing
mainly just because we're lazy and it's
easier to do that then you know go and
get in your car and sit through traffic
and drive to a grocery store wait in
line to buy your stuff right it's just
more convenient and I had heard about
all these people you know making money
selling random everyday things on Amazon
and so I decided to give it a try right
I started to do research on how people
were actually selling stuff on Amazon
how they were making money doing it and
I read every blog post I watched all of
the YouTube videos available and I did
all of the research that I possibly
could do every single night when I got
home from work and to be honest when I
started selling on Amazon I didn't make
much in the beginning but after doing it
for a few months it really started to
take off and I officially had my second
source of income and then you know what
happened was my co-workers and my
friends and people started to notice
that I was making this work that I was
actually selling stuff on Amazon and I
started to generate some you know
reasonable amount of money selling stuff
on Amazon just in my spare time and
people started to notice and they
started to say to me Kevin you know how
are you doing this how are you actually
making money selling everyday products
on Amazon and they started to tell me
you know Kevin you got to teach me you
got to help me get out of the cubicle
and you got to help me leave this
nine-to-five job that I hate
and you know I myself learned a lot
about Amazon when I was first getting
started from blog post and from YouTube
and so I decided just to randomly one
day create a couple of YouTube videos
teaching strategies that I personally
had learned and figured out myself
to find products to sell on Amazon I
started to make a youtube video teaching
the strategies that I was just using in
my own business and a few months after I
created my first video one of those
videos actually started to take off and
get a couple hundred of views and people
started to comment and people were
saying wow I've never seen these
strategies before and really started to
react to the videos and so once one of
my videos took off right I had my third
source of income and so at this point I
had three sources of income right I had
my job which originally was my only
source of income
I was selling products on Amazon right
selling physical products and I was
making money doing that and then I was
making money from YouTube because people
started to actually watch my videos and
be interested in what I had to say and
that's when I heard about affiliate
marketing I was creating all of these
videos and tutorials teaching people how
to find successful products and
profitable products on Amazon and I was
using software to do that and one of my
friends introduced affiliate marketing
to me and he said hey well if you're if
you're making these videos and you're
teaching people how to use this software
you might as well see if that software
has an affiliate program and so I check
to see whether the software that I was
using everyday in my own Amazon business
and teaching people how to use on on
YouTube had an affiliate program and
they did and so all I did was change the
links to be able to purchase the
software to my affiliate links right and
all affiliate marketing is is software
pays me to bring them more customers
they pay me a percentage of every sale
and so all I did was change the links
that I was already I already had in all
of my videos to my affiliate links and I
started to generate affiliate marketing
income from that piece of software that
I was recommending anyways right so I
had my fourth stream of income in
affiliate marketing so after I created
my fourth stream of income at that point
I actually had enough money and I was
making enough money from my other
sources of income to leave my
nine-to-five job behind me so I went
from four streams of income back down to
three right because I no longer had my
original source of income which was my
nine-to-five
I only had physical product sales on
Amazon right I had YouTube income and I
had affiliate marketing income so I was
back down to three and so it was around
that time that my YouTube following
really started to grow little by little
and they were asking me Kevin where do
you have more resources do you have any
a to Z like tutorial or guide of how
someone like me a beginner can follow in
your footsteps and start to sell on
Amazon to generate an additional source
of passive income and that's when people
were starting to ask me Kevin do you
have a course do you have a digital
product do you have some type of you
know all-inclusive step-by-step program
that I can you know join to be able to
start selling on Amazon as well you know
at that time I didn't even know what a
course was I didn't understand the idea
that you could have a membership
platform and have a series of videos
that people could pay for and I didn't
understand sales landing pages or any of
that stuff but I did what any person
would do in that situation and I YouTube
day right I YouTube how to set up a
sales funnel i YouTubed how to accept
credit card payments right i YouTubed
how to actually set up an email
autoresponder so I could send out emails
to people on YouTube how to set up a
membership platform that I could
actually you know have people join if
they wanted to join my program and have
access to the videos that I created a
few months later after I had done all
that research the Amazon FBA ninja
course was born and so I started to sell
digital products and I was back up to
four sources of income and what I loved
about having you know an email list and
having people that were purchasing my
course was you know if lo and behold
something happened with Amazon Amazon
decided they didn't want third-party
sellers to sell on their platform
anymore or YouTube disappeared or one of
my other sources of income all of a
sudden went away I could devote my full
time attention to my digital products
business and expand it to reach more
people teaching them how to sell on
Amazon and the best part about all four
of these streams of income is that they
were fully automated with Amazon all I
had to do was the work up front I had to
find the product create the listing and
then the beauty of the Amazon business
model is that that product would
continue to sell day after day after day
because Amazon has millions and millions
of organic loyal customers the best part
about YouTube was if I created quality
content YouTube wanted people to watch
that so they would promote
content and the more people who found it
interesting and engage with it YouTube
would show more and more people this
content and then it started to
automatically you know grow and get more
views every day without any additional
work on my part the best part about
affiliate marketing is if people find
what I'm you know teaching and saying
entertaining and interesting then
they're going to buy what I'm
recommending as the best software
through my affiliate links right this is
all automated and doesn't require any
additional work than the first upfront
work that I actually did to create those
automated system and the more videos
that I made the more people saw me as
somebody who really understood Amazon
and the more people became interested in
purchasing my digital product in the
form of my Amazon FBA course and so it
was all kind of building and I was
creating these sources of income one at
a time right I didn't go out there and
immediately start to try to create five
different sources of income it was all
very logical I did my Amazon FBA
physical products business first and
then people were interested in what I
had to say so I created a YouTube
channel and then I was teaching things
already with my software so I thought
okay might as well do affiliate
marketing and then people were asking me
Kevin you're teaching all the stuff you
have like a full comprehensive solution
do you have a course and so I thought to
myself okay well I need to make a course
and so I created my fourth stream of
income and none of this required any
manual input except for the initial work
upfront once I created a video it
existed forever and if people watched it
they watch it if they didn't they didn't
write once I created an Amazon product
listing did all the upfront work it was
just selling day after day after day and
all I had to do was restock inventory
right which takes two seconds and so all
of these streams of income were
automated systems which is so vitally
important to understand to create
passive income streams for your soul
which brings us to our fifth and final
source of income which is of course
investing I took all of the money that I
earn from my first four streams of
income and I started to invest it I
purchased real estate i bought stocks
and bonds right i invested in mutual
funds and i started to allow my money to
work for me rather than working for my
money and so at the end of the day guys
there's three incredibly important
lessons that you need to understand and
take away from this video if you want to
actually start to create multiple
streams of income for yourself because
yes i guess it's cool that i have 5
sources of income but at the end of the
day it does not matter at all what
does matter is what you are doing so
lesson number one is if you are relying
entirely on one source of income which
is your job if you lost your job
tomorrow you would be making zero money
and I would never advise anyone in any
circumstances to do that lesson number
two is that the world has changed right
people don't go and get a job one job
and stay at that job for 30 or 40 years
people have side hustles and they have
additional streams of income and it's
very common to do this and it's
incredibly important to start getting
your mindset and your brain in the right
place to actually have that same
mentality as well because remember the
average millionaire has seven sources of
income and this does not happen
overnight right don't allow yourself to
get overwhelmed don't allow yourself to
think that you have to go out there and
create five sources of income
immediately or seven sources of income
immediately these things happen
sequentially they happen one step at a
time and so what I advise you to do is
start with something that you're
interested in and passionate about that
you can actually build from the ground
up and really get into a good place so
it's generating you some income so that
you can move on and create an additional
stream of income because if you try to
do it all at once it's simply not going
to work do it one step at a time and
focus on creating each stream of income
as automated as possible so it requires
as little of your manual input and your
manual time you know you working any
additional amount of time on that stream
of income build all of your streams of
income and so that they're fully
automated so you can move on to the next
and have all of your past sources of
income that you've spent time on
continue to print you money for years to
come and lesson number three and
probably the most important lesson out
of all of these is you need to be
adaptable and you need to be willing to
evolve and learn because it's very rare
that you create a source of income and
it just makes you money forever let's
say that a software business that you're
doing affiliate marketing for goes out
of business and stops paying affiliate
commissions or Amazon decides to no
longer accept third-party sellers
selling on their platforms or YouTube no
longer pays people to create videos for
the platform the point is any number of
things could happen at any time and it's
very normal and common for sources of
income to dry up so having the proper
mindset and mentality to be able to
evolve and learn new things and find new
sources of income is absolutely vital to
maintain a steady stream of income so
the lesson for this video is that if you
want to become a millionaire or
financially free you can't just rely on
one source of income because maybe your
jobs going well now but you never know
what's going to happen in the future
because the more streams of income that
you have the better diversified and
online earning,make money online, earn money online, online earning, online earning sites,
make money online free, online money income, earn money online free, money online, best way to earn money online, online income site, money earning websites, best online earning sites, easiest way to earn money online, earn money payment bkash, online money income site
Posts
No comments:
Post a Comment