9 Passive Income Ideas-How I make $7500/Week
Summary
TLDRThis video offers 9 actionable passive income ideas, ranging from investing in the stock market to creating digital products and online courses. The host, who earns up to $50k monthly, dispels myths about high-earning professions and encourages finding the right approach for generating income. The script covers affiliate marketing, leveraging platforms like Twitter, Instagram, and YouTube, and building membership platforms. It emphasizes the initial effort required to set up passive income streams and the importance of consistency, patience, and continuous learning for success.
Takeaways
- 💰 The speaker makes 30k-40k USD monthly and aims for 50k USD by year-end, debunking the myth that high income requires traditional professions like doctor, engineer, or lawyer.
- 📈 The speaker advocates for investing in the stock market for passive income, suggesting index funds as a safer option and considering crypto for higher risk tolerance.
- 🔗 Affirming the effectiveness of affiliate programs for earning passive income, with Amazon and IQ links as examples, and emphasizing the importance of driving traffic for success.
- 📚 Creating digital products like ebooks, templates, and planners can generate passive income once created, with the challenge being in marketing and gaining visibility in a crowded market.
- 💻 The speaker's personal experience with creating a Skillshare class on language learning as a way to diversify income and share knowledge, highlighting the platform's potential for both learning and teaching.
- 🐦 Twitter is presented as a powerful platform for passive income, allowing for anonymity and audience building without the need for personal content creation.
- 📷 Instagram and TikTok are identified as platforms with massive user bases for potential passive income, but note the challenges in content creation and audience growth due to the short-form nature of the platforms.
- 🎥 Starting a YouTube channel is straightforward, but standing out requires high-quality content and consistency, with the potential for deeper viewer connections leading to higher revenue.
- 🤝 Membership platforms are a way to generate passive income and build a dedicated community, offering exclusive benefits and fostering closer interaction with core fans.
- 🚀 The key to success in passive income is consistency, patience, and a willingness to learn, adapting and improving strategies over time to maximize income potential.
Q & A
What is the average monthly income the speaker has been making recently?
-The speaker has been averaging around 30k to 40k USD per month and expects to reach 50k USD by the end of the year.
What is the speaker's perspective on the common belief that only specific professions like doctor, engineer, or lawyer can make a lot of money?
-The speaker believes that this is a myth and that there are many ways to make a substantial income, such as through passive income ideas, with the right approach.
What is the link to the speaker's Skillshare class mentioned in the video?
-The link to the speaker's free Skillshare class on how to effectively learn languages is included in the video description.
What is the definition of passive income according to the speaker?
-Passive income is income that is generated over time with minimal ongoing effort after the initial work is done or a system is set up, not requiring constant active involvement.
Why does the speaker recommend investing in the stock market as a method for earning passive income?
-The speaker recommends investing in the stock market because it has the potential to earn much higher returns than a bank and can help protect against the decrease in value due to inflation.
What are affiliate programs and how do they generate passive income?
-Affiliate programs allow individuals to earn a commission by promoting other people's products. By sharing special links, when someone makes a purchase through the link, the affiliate earns a commission.
What is the key challenge in making money from digital products like ebooks or templates?
-The key challenge is marketing and gaining visibility in a crowded marketplace. Driving traffic to the products and convincing people to make a purchase can take time and effort.
How much revenue did Thomas Frank earn from selling Notion templates according to the video?
-Thomas Frank earned over 1 million dollars in revenue from selling Notion templates.
What is the potential annual income from Ali Abdall's Skillshare courses as mentioned in the video?
-Ali Abdall makes almost a million dollars a year from his Skillshare courses.
What are the benefits of using Twitter for creating passive income according to the speaker?
-Twitter allows for more anonymity and can be a great platform for building an audience and influence without revealing personal details. It offers opportunities to monetize through various methods once a sizable engaged audience is built.
What is the main challenge of maintaining a presence on Instagram and TikTok for passive income generation?
-The main challenge is creating unique, engaging content that appeals to the target audience and maintaining a consistent presence, which can be labor-intensive due to the platforms favoring short-form content.
What are the potential ways to monetize on YouTube according to the video?
-Monetizing on YouTube can come through ad revenue, sponsorships, affiliate links, and promoting one's own products or services.
What is a membership platform and how does it help in generating passive income?
-A membership platform is a way to build a dedicated community around content, offering exclusive benefits to members for a fee. It helps in generating passive income by providing a steady income stream and deepening the relationship with core fans.
What is the speaker's advice on the key to success with passive income?
-The speaker advises that success with passive income comes from consistency, patience, and a willingness to learn. It's about finding what works, sticking with it, and constantly looking for ways to improve and expand.
Outlines
💰 Passive Income Opportunities and Myths
The speaker introduces the video's focus on nine passive income ideas, categorized by their ease of initiation and maintenance. They share their personal success, earning 30-40K USD monthly with a goal to reach 50K by year-end. Dispelling the myth that high-income careers are limited to traditional professions like doctors, engineers, or lawyers, they emphasize various approaches to earning substantial income monthly. The video promotes the speaker's Skillshare class for language learning and mentions the video's sponsorship by Skillshare. The concept of passive income is clarified, explaining that it involves initial work to set up a system that generates income with minimal ongoing effort, using writing a book and investing in the stock market as examples. The potential of index funds and crypto investments for passive income is also discussed.
📈 Investing and Affiliate Marketing for Passive Income
This paragraph delves into the specifics of earning passive income through investing in the stock market and participating in affiliate programs. It suggests that investing can provide higher returns than traditional savings and protect against inflation. The paragraph highlights the safety of index funds and the possibility of crypto investments based on personal risk tolerance. Affiliate programs are introduced as a way to earn commissions by promoting others' products, with platforms like Amazon and IQ links mentioned. The ease of joining such programs and the challenge of driving traffic and sales are discussed, along with the minimal maintenance required once set up.
📚 Creating Digital Products and Online Courses
The speaker discusses creating digital products like Notion templates, GoodNotes digital planners, and eBooks as an effective method for generating passive income. They cite the example of Thomas Frank, a YouTuber who earned over a million dollars from selling Notion templates. The challenges of starting, such as familiarity with the tools and marketing, are acknowledged. The paragraph also explores the benefits of creating online courses on platforms like Skillshare, sharing personal experience and the success of others, like Ali Abdall, who earns a significant income from his courses. The importance of continuous learning and Skillshare's offerings for various skills are emphasized, along with a promotion of the speaker's own language learning course.
🐦 Leveraging Twitter for Passive Income
The paragraph explores the potential of Twitter as a platform for creating passive income, focusing on its unique aspects such as anonymity and the ease of building a following without revealing personal details. It outlines the process of starting a Twitter account, sharing valuable content, and engaging with the community. The challenges of maintaining a Twitter account and monetizing it through various methods like affiliate marketing, selling digital products, and sponsored tweets are discussed. The paragraph also mentions Twitter's new Super Follow feature for offering exclusive content to paying subscribers.
📱 Instagram, TikTok, and YouTube as Passive Income Channels
This section discusses the role of Instagram, TikTok, and YouTube in generating passive income. It highlights the ease of starting on these platforms but acknowledges the challenges of growing a following and creating engaging content. The paragraph contrasts these platforms with YouTube, where long-form content allows for deeper viewer engagement and potentially higher revenue. Monetization strategies on these platforms, including affiliate marketing and sponsored posts, are mentioned, along with the importance of consistency and authenticity in building an audience.
🎥 The Journey of Becoming a Successful YouTuber
The speaker reflects on their personal journey of becoming a YouTuber, emphasizing the importance of understanding the platform and creating valuable content. They recount their initial struggles and the turning point in 2020 when they began to study the platform and improve their content creation. The paragraph details the comprehensive process of creating a YouTube channel, from research and scripting to filming, editing, and thumbnail creation. The rewards of consistency and the potential for higher engagement due to the long-form content nature of YouTube are highlighted, along with various monetization methods available to creators.
🤝 Membership Platforms for Building Community and Income
The final paragraph introduces membership platforms as a method for generating passive income and building a dedicated community. It presents the example of Hamza, a content creator who successfully runs a membership platform, providing exclusive benefits to his community. The paragraph outlines the initial work required to set up a membership program, including defining benefits, setting up a payment system, and promoting the program. It emphasizes the importance of regular engagement and content creation to maintain member satisfaction and attract new members, suggesting that a membership program can offer a predictable income stream and a space for community interaction.
Mindmap
Keywords
💡Passive Income
💡Skillshare
💡Affiliate Programs
💡Digital Products
💡Online Courses
💡Instagram and TikTok
💡YouTube
💡Membership Platforms
💡Consistency
💡Inflation
Highlights
The speaker shares 9 passive income ideas based on their start-up and maintenance difficulty.
They have been averaging 30k to 40k USD monthly and expect to reach 50k USD by year-end.
Dispelling the myth that high-paying careers are limited to doctors, engineers, or lawyers.
The speaker promotes their Skillshare class on language learning and mentions the video is sponsored by Skillshare.
Passive income is clarified as income generated over time with minimal ongoing effort after initial work.
Investing in the stock market is recommended as an easy way to potentially earn higher returns than a bank.
Affiliate programs are introduced as a way to earn passive income by promoting others' products.
Creating digital products like templates and ebooks can generate continuous income with minimal additional work.
Online courses on platforms like Skillshare are a powerful way to diversify income and share expertise.
Twitter is highlighted as a platform for creating passive income with opportunities for audience building and influence.
Instagram and TikTok are key platforms for passive income with massive user bases for audience reach.
Starting a YouTube channel is straightforward, but standing out requires high-quality and consistent content.
Membership platforms offer a way to generate passive income and build a dedicated community.
Consistency, patience, and a willingness to learn are key to success with passive income ventures.
The speaker emphasizes the importance of finding what works for the individual and continuously improving.
Making money is not easy, but with the right approach, it is achievable.
Transcripts
in this video I'm going to write 9
passive income ideas based on how hard
it is to get started and how hard it is
to maintain and make money from it these
days I've been averaging around 30k USC
dollars to 40K monthly and by end of the
year we're expecting to reach 50k USD
per month a couple of years ago I used
to think that only way to make a lot of
money was becoming a doctor engineer or
a lawyer and that's completely a myth
and there's so many ways you can also
make ten thousand dollars per month with
the right approach so whether you're
working a nine to five and want some
passive income on the side or you're
looking to start a new side hustle and
maybe eventually quit your nine to five
job this is the perfect video before we
begin I want to inform you that I
recently launched my new skillshare
class on how to effectively learn
languages the link to my free course is
included in the description and this
video is sponsored by skillshare and I
will provide more information about it
later I wanted to promote my own class
because I believe it's genuinely helpful
and enjoyable for people the class
offers tips on learning a new language
in your spare time now let's begin the
video to make things easier to
understand let's clear out what passive
income is despite what people would like
to think passive income is not like
you're doing nothing and money grows on
the trees it's more like you do a
certain work up front or set a system
that generates income over time with
minimal ongoing effort I'm not saying no
effort the key concept is that once the
initial work is done the income
continues to flow without requiring
constant active involvement in other
words you're not exchanging your time
for money directly so think about
writing a book to write a book you need
to spend a lot of time in the beginning
but once it's published you don't
necessarily need to continue writing to
generate income that is called passive
income investing in the stock market is
an investment method that everyone needs
to consider in my opinion it's super
easy and much better than putting your
money in a bank and waiting for it to
lose its value by investing in the stock
market you have the potential to earn
much higher Returns on your investment
after you have your emergency fund of
six to eight months aside just in case
something happens start investing and
make it a habit index funds are close to
safer investment option as they track
the performance of the overall Market
rather than individual stocks but
depending on your risk tolerance you may
also want to consider investing in
crypto by investing in the stock market
you're not only earning passive income
but you're also giving your money the
opportunity to grow over time this is
important because inflation can cause
the value of your money to decrease over
time by investing in the stock market
you are predicting your wealth and
giving yourself the potential to earn
even more affiliate programs are a
popular way to earn passive income they
allow you to earn a commission by
promoting other people's products
companies like Amazon and IQ links the
keyboard that I use have affiliate
programs that you can join for free once
you join you can promote their products
by sharing special links when someone
clicks on your link and makes a purchase
you earn a commission getting started is
super easy you just sign up for a
program like Amazon Affiliates and it
paste the links into your blog social
media YouTube page newsletter or
whatever platform you're using the
tricky part of affiliate marketing is
driving traffic to your links and
convincing people to make a purchase
this process can take time and effort
especially if you're starting from
scratch with no audience but with the
right strategies such as like high
quality content building community that
trusts you you can attract more traffic
to your links and potentially earn a
substantial income maintenance is super
easy you just need to paste links every
year I make like a little bit of money
from my affiliate links by simply
mentioning the products I use and love
such as my desk setup keyboards and
services creating digital products like
notion templates good notes digital
planners and ebooks is an effective way
to generate passive income once created
these products can be sold multiple
times without any additional work
resulting in a continuous stream of
income for example Thomas Frank a famous
YouTuber with almost 3 million
subscribers abandoned his main Channel
and focus on his second Channel which
has only like 174k subscribers to sell
notion templates last year he earned
over 1 million dollars in revenue from
selling these templates the difficulty
of starting depends on your family
familiarity familiarity with creating
these types of digital products if
you're already tech savvy and familiar
with tools like notion and good notes
getting started can be relatively easy
but if you're new to these platforms it
might take some time to get up to speed
writing an ebook requires an in-depth
knowledge of your subject and the
ability to effectively communicate your
ideas it can be a significant time
investment especially if you're aiming
for a high quality comprehensive but the
challenge in making money from digital
products lies in the marketing and
gaining visibility in a crowded
Marketplace platforms like Etsy and
gumroad can help you solve your products
but you will need to actively promote
them to drive sales as with affiliate
marketing the key here is driving
traffic to your products this can be
done by leveraging SEO social media
email marketing or maybe paid
advertising like Google ads you'll also
need to keep your product updated to
ensure they remain relevant and
appealing to the customers the effort
required for maintenance is minimal once
the product is created it doesn't
require much upkeep but you may need to
update your products occasionally based
on customer feedback or change changes
in the platform they're designed for so
this option can be a profitable winter
if you have the expertise and create
valuable digital products and the
marketing skills to promote them
effectively creating online courses is a
powerful way to diversify your income
platforms like skillshare provide an
incredible opportunity for anyone with a
unique skill or expertise to share that
knowledge and earn money hey Ali abdall
for example he's a successful YouTuber
and Doctor ex-doctor Who teaches
productivity courses on skillshare
according to him he makes almost a
million dollar a year just from his
skillshare courses and that's a
life-changing amount of money and
testimony to the power of online courses
and it's not just Ali even I've jumped
on this trend and recently I published a
language learning course designed to
help you effectively learn a new
language in the least amount of time
this has opened up a new stream of
income for me all while enabling to
share my knowledge with others but
skillshare isn't just about making money
it's also a place to learn new skills
whether you want to start a side hustle
develop a new hobby or focus on personal
development skillshare has thousands of
classes that can help you achieve your
goals looking to master video editing
for your channel there's a course for
that want to learn about social media
marketing to boost your online presence
skillshare has you covered from graphic
design to creative writing to coding the
possibilities are endless what's even
better is that skillshare offers a one
month free trial and you can access all
these incredible courses without paying
a dime if you feel it's not for you you
can cancel your subscription within the
trial period so it's risk-free learning
new skills is an investment in yourself
and I encourage everyone to embrace the
culture of continuous learning Kaizen
mindset so let's make a collective goal
to learn more this month use my link to
sign up for a one month free trial of
skillshare you have nothing to lose and
a world of knowledge to gain and
remember the more you learn the more you
can earn also check out my skillshare
course Twitter can be a powerful
platform for creating passive income
it's not only a place where you can
promote products and services but it
also offers a unique opportunity to
build an audience and influence Twitter
is different from Instagram Tick Tock or
YouTube instead several Keys first of
all anonymity online platforms like
Instagram and YouTube or showing your
face or creating personal content can be
a significant part of gaining popularity
Twitter allows for more anonymity you
can build the following without ever
showing your face or revealing your
personal details making it a great
platform for who value privacy starting
a Twitter account is as simple as
signing up choosing a handle creating
your profile Begin by sharing relevant
valuable content and engage with others
in your industry or interest area and if
you don't follow me on Twitter make sure
to follow me maintaining a Twitter
account can be as easy as hard as you
make it it can be as simple as tweeting
a few times a day or as complex as
managing a Content calendar and making
strategies around trending topics to
make money you'll need to build a
sizable engaged audience this can take
time and consistent effort once you have
an audience you can monetize through
various methods this can include
promoting affiliate products selling
your own digital products sponsor tweets
or even offering paid subscriptions
through Twitter's new super Fallout
future where followers pay for exclusive
content with the right approach and
consistent effort Twitter can become a
profitable side hustle or even a main
source of income it's all about
providing value to your followers and
building a community around your content
Instagram and Tick Tock have became key
players in the world of passive income
both platforms have massive user base
providing an excellent opportunity to
reach wide audience and diversify your
income starting on these platforms is
obviously really easy like Twitter and
other platforms but growing your
following can be challenging you'll need
to create unique engaging content that
appeals to your target audience and the
difficulty of these platforms is that
due to the nature of these platforms
favoring short form content it can be
quite labor intensive to maintain your
presence unlike long-form content like
YouTube where one video a week might
suffice to make significant impact on
Instagram or Tick Tock you ideally need
to show up five to seven times a week it
is quite time consuming and requires a
solid content strategy so that you won't
burn out making money on these platforms
can also be challenging particularly
since they don't have built-in
monetization features like YouTube but
if leveraged correctly Instagram tiktok
can open doors for other income sources
like affiliate marketing sponsored posts
and selling your own products or online
courses both Instagram and Tick Tock are
powerful tools to build an audience and
by extension a source of passive income
they allow you to establish a Personal
Collection with your followers who can
get to know who you are and what you
stand for this familiarity can make them
more willing to purchase products or
Services you recommend or you create as
opposed to buying from an unknown person
from online even though it's hard work
the potential rewards make it worth
considering these Platforms in your
passive income strategy remember the key
to succeed on these platforms is
consistent engaging content authentic
interactions with your audience starting
a YouTube channel is straightforward but
creating content that stands Out Among
the vast amount of the videos on the
platform can be quite challenging high
quality videos are crucial for gaining
viewership while you don't necessarily
need super expensive gear to get started
investing in decent lighting and
ensuring good sound quality can make a
significant difference in the viewer
experience also creating YouTube channel
isn't about just filming it's about
comprehensive process involving research
scripting filming editing and creating
good thumbnails all of this takes quite
a lot of time and effort actually
consistency is key on YouTube to build
and retain an audience you need to
regularly upload new videos but the
potential rewards are also you know
because of the long form content nature
viewers on YouTube can form a deeper
connection with creators which can lead
to a higher engagement and potentially
more Revenue compared to short form
content monetizing on YouTube can come
through multiple ways like ad Revenue
sponsorships affiliate links and
promoting your own products or Services
giving coaching a lot of different
things and in my own Journey YouTube has
played a significant role I've been
trying to become a YouTuber since 2016
but initially I didn't gain much
traction despite posting a lot of videos
but everything changed in 2020 when I
decided to study the platform and take
my content creation seriously and thanks
to that but we managed to gain 100K
subscribers in just 3 months and hit the
1 million subscribers in only two years
becoming a successful YouTuber isn't
about luck it's about understanding the
platform and creating content that your
audience values although it requires
consistency and time with the right
approach anyone can find success on
YouTube for those interested in learning
more about how to grow on YouTube I have
a dedicated video that explains in
detail so check it out to learn how you
can start and grow up your own channel
membership platforms are a powerful way
to generate passive income while
simultaneously building a dedicated
Community around your content let's
consider the case of thumbs up a
successful content creator Hamza runs a
membership platform where he makes
thousands of dollars every month by
creating a community for like-minded
people to enjoy his content and also
this model like provides significant
benefits for both parties involved
members receive value through
interaction with a supportive community
of people with shared interests and
goals aiming accountability bodies in an
environment encourages progress
meanwhile Hamza earns a steady income
while deeping his relationship with his
core fans and providing them Extra Value
establishing a membership programs
involves some initial work you'll need
to Define what exclusive benefits you'll
offer set up a payment system and
promote your program to potential
members plus it's essential to have a
solid follower ways which you can Market
the membership you don't necessarily
have to have a lot of followers but core
followers that actually loves you in
your content and once established a
membership program requires regular
engagement and content creation to keep
members satisfied and also attract new
ones examples of membership benefits
might include monthly group coachings
one-on-one sessions exclusive content or
maybe even like special events meetups
running a membership program can be
excellent way to monetize your audience
while also providing Extra Value to your
most dedicated followers it's not just
about generating income it's about
creating a space where your community
can Thrive and where you can interact
more closely with your audience also it
can offer more predictable income stream
of compared to ad-based revenue so
that's it those are my top picks for
passive income ideas based on my own
experience and experiences of others
keep in mind that passive doesn't mean
effortless it takes time energy and
sometimes money to set up these income
streams but once they're up and running
they can provide a steady source of
income with minimal ongoing effort
remember to teach your success with
passive income as with any other
Ventures is consistency patience and
willingness to learn it's about finding
what works for you sticking with it and
constantly looking for ways to improve
and expand making money is not easy but
you got this bye
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