9 Ways I Earn Passive Income Online (Different Business Models) #Best Education Page #Online Earning

- Hey, in this video I'm gonna give you

nine different examples of ways

that I generate a passive income.

These are things I've built in the past

that I hardly touch anymore,

yet continue to generate an income for me overtime.

We're gonna get very specific here,

looking at specific businesses, specific websites,

specific business models.

I have a lot of links down below from other videos

that are gonna teach you a little bit more

about the ins and outs of each of these models.

But I just wanted to share these examples

so that you can get 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, foodtruckr.com.

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 the 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 a little bit difficult

to put up because I'm not a food truck owner myself

which is really interesting.

So how did I discover what content to actually put on here?

Well 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 owns a food truck make more money.

Within about a year, this website started 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 25,000 and 50,000 visitors per month

which is really cool.

Now most of this 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

overtime as people buy them.

One of them is called

How To Start 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

securityguardtraininghq.com.

This was the website that was actually built back in 2010

as a result of, very similar, a challenge.

Somebody challenged me to build a 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 is generated

over $100,000 in advertising dollars.

Now, it's only a couple thousand a month,

it has gone down a little bit overtime

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 called security guard training companies,

'cause I'm not a security guard myself too,

I called security guard training companies

from all the different states and I asked them,

hey, how do I become a security guard?

Took that information, put it on the website

and now, people find on Google and I can help 'em 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 am a food truck owner.

Now, I do love food and fun fact,

my mom is actually a security guard which is kinda 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 can potentially sell them

one of my online courses like Power-Up Podcasting

to help them a little further

if they wanna go deeper with me.

And then number three, I also sell a software

that my team and I created called

the Smart Podcast Player on this page too.

It's a podcast player that you can put on your website,

makes sense for people who are starting

a podcast to get this.

So, of course, I include that on this page too

and although this resource is absolutely free,

and you 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 made many, many, many, many mistakes in the past

hiring developers just because they were cheap

or because I didn't do enough research,

and you know, 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 teams

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 that way I actually haven't done much

to upgrade this plugin myself 'cause I don't code,

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 wire frame

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 'em.

I'm actually now an advisor for the company too.

This video on YouTube has been seen

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 they're gonna 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 go through 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.

But I'm very lucky that I have an amazing audience,

many of you have purchased my book 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 a lot of people love to get because it's a book.

People love to reading books, specially if it produces

a specific outcome or transformation for them.

My very first book was called Let Go.

It was just an eBook that was written

and published on Amazon.

It was about 13,000 to 15,000 words so it wasn't very long.

Yet it still was able to help me generate $2.99 per sale

minus, if you publish on Amazon, they take 30% also.

So again, we're talking small dollars here.

But overtime, it does add up.

But more importantly, it did help build

a 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 eBook.

The physical book was still passive

because it was run through a site called CreateSpace

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 rev share with them, a 70/30 split

at the time that we are recording 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 ACX.com which is where you go

to set up your audio version of your book.

Currently every single month,

I make about a couple thousands dollars

from the digital and print version

and a couple thousand dollars from the Audible version.

So as you can see, I mean,

they're right up against each other.

Number seven, we have podcast advertising.

Now, if you have a podcast,

you're likely going to continue to record that podcast.

This is passive in a sense

that you're working with a company

who wants to get in front of your audience

so they'll pay you to say 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 wanna 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 AskPat, 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.

Number eight, 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, or 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 wanna 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 $15 per ticket and sometimes up to $100

depending on the price of the event.

And again, this is one of those examples

where you're doing it anyway, you might as well

just do a little bit of extra work upfront

to see if you can 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 that thing,

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's course Best Year Ever.

It's an online course that helps you

setup your next year for success

and I traditionally take it every single year.

It's great, it's helped me structure my year properly.

It's what helped 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

and 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 stay connected via email,

however you wanna 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 of tens of thousands of dollars

by promoting Michael Hyatt's 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 where I talk about my experience

with goal setting and planning for the next year.

And we talk about it and it gets people

really interested in that and I mention that,

hey, I'm gonna be taking this course, Best Year Ever,

if you'd like to take it with me too,

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 upfront and then making money

from them again and again and again overtime.

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 a minute

and also in the links below.

But of course, make sure you subscribe

to the channel if you haven't already

and make sure you click that notification bell

because you can get notified when new videos come out

and potentially win 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 wanna wish you all the best of luck.

Keep coming back to the YouTube channel

'cause we got a lot of great content

to help you take, maybe one of these things,

expand on and 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 in the next video, bye.

#Best Education Page #Online Earning

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