Do you ever think about passive income? Passive income is the golden ticket.
Having income come in without having to continue to put in the work. Who wouldn’t want that? In this article, I am going to explain three of the best passive income streams that you can create in 2019 and beyond.
So first, let’s get specific about precisely passive income means, so we are all on the same page. Passive income means that you either invest your time or your money into something and it keeps working for you long afterward bringing you money.
Now if you are already wealthy, you can invest your money as an investor. It is super hands off, and you can invest in a variety of low to high-risk options. however, if you are scanning this provision, the chances are that you were not born with a trust fund and you need to create the income yourself. No worries, that is what we do. Moreover, the internet has put passive income within reach of more people than ever before. So if you have some drive, you can start bringing in passive income yourself. Now there are varying degrees to which all of these income streams are truly passive. Some are more passive than others, so we will make sure to touch on that for each of them as we dive. Number one is affiliate marketing.
One of my preferred methods to make money online. Just this last year we made several hundred thousand dollars from affiliate marketing alone. It is a huge opportunity. You get paid to refer people to a product or service. Moreover, May companies, most companies out there today offer these programs where anybody can refer and make a little money. When someone you refer to a product or service makes a purchase, you make a percent of the commissions. We really like to work with digital products as you are typically looking at 30 to 50 percent or better percent of the purchase price is what you earn as commissions, whereas with physical products, there is a lot more overhead for the product, and you are probably only going to earn like five to seven percent of purchase price. So you are going to work a lot harder to make the same amount of money. While some people treat affiliate marketing more like network marketing, and they do many Facebook hustle to get sales, networking, providing value in groups, doing Facebook lives. it is not passive and not what we suggest. Yes, those strategies work, but you have to continue to work to make sales. If you stop working, you stop earning cash. Moreover, that is not passive at all. Instead, it would help if you focused on using content to promote your affiliate offers. Evergreen content that new people can continue to find long after you created it. For example, you can write a blog post, or shoot a YouTube video teaching people how to set up their email autoresponder system with Active Campaigns.
With the blog post or the video, you provide a link to sign up for the service. You put in the little extra effort into making sure that your video is SEO, or search engine optimized so that individuals can discover it when they are searching for how to set up an email autoresponder system. People see your video or your blog post, end up signing up for the service through your link. What’s cool about most ongoing services is that as an affiliate you can continue to get monthly commissions ongoing each month if that person you referred continues to pay for the service. Pretty sweet. Now yes, this takes work to create the content and to set it up so people can find it, but people can find that piece of content on their own for years to come, continuing to bring you income ongoing. When it comes to affiliate marketing with content like this, every piece of content is an asset. The more you create, the more passive income you can generate. A single well-done piece of content can continue to bring you sales years and years after it created, creating a very passive income stream. The second type of passive income is through YouTube Ads Revenue. This method is cool, and it is one of the many reasons we choose to focus our content creation on YouTube. Not only can you upload your content to YouTube to bring in affiliate commissions, but YouTube will pay you as well. Yes, you have to work to grow your channel; first, you can not start running ads on it right away. You can not allow ads at the beginning. You need to have at least 1,000 subscribers and at least 4,000 hours of annual viewing time before you can monetize your channel. it is just a little setting that they won’t let you do until you reach that threshold. However, once you do, YouTube will pay you money to put ads on your videos, like the one you probably had to click through at the beginning of this article before you could watch it. Now the amount of money that you earn from YouTube, it greatly varies based on how many views your videos get, but in the niche that you are. also, focused on your videos. I have heard it said that on average a YouTuber with a traditional channel earns $5,000 to $8,000 per month through ad revenue. However, it is absolutely based on how many views you are getting on your videos. it is also a bidding platform. So the more people that want to run ads in your niche, in your industry, the more they are amenable to spend for it, and the more you will make. A good friend of ours focused on cranking out YouTube videos last year and grew his channel exponentially. He is in a niche that pays more for ads than most, and he earned almost $80,000 last year just from YouTube ad revenue with a few hundred thousand subscribers. Now when you have videos that rank for keywords that have a bit search volume, you will continue to make money on a good video for a long time to come. However, in general, with YouTube, you want to continue to put out content regularly; otherwise, you will see your views and your revenue go down. So it is not the most passive option. You will continue to make money on a video you created long after you created it, but you will also want to maintain your channel and continue to produce content if you are looking to maximize your earning potential. The third passive income stream that we recommend for 2019 is offering your digital products. Whatever information that you can put together into an eBook, PDF download, a video training series that fits the niche or the industry that you are serving is a great passive income stream. You put together the digital content one time, you set up the payment processing, and the delivery methods and you will continue to make money on it any time in the future when someone purchases. How much work this takes and how much ongoing work it will take to maintain depends on how you set it up. If you are publishing an eBook with Amazon, it is straightforward. it is super hands-off. You create the content, and you upload it into Amazon. Take time to set it up so people can purchase it, and voila, Amazon handles the rest. You make money when people purchase. However, for most of what you offer as a digital product, the main thing that you are going to focus on ongoing after the initial content creation, logistics, and creating a good sales funnel, is all about, you are going to focus on traffic or interested people to your offer. Again, you can do this by creating content like you would for affiliate marketing, or you can even just run, directly run ads to your offer. However, just like creating content for affiliate marketing, the videos, blog posts, or podcasts can continue to send traffic to your offer long after you created them.
Digital products are a great income stream. However, they are depending on how you are delivering the content. If you have your membership site you have to maintain, and if the topic changes often and the content needs to refresh. it would be best if you May did a little time every once in a while to keep that product relevant and to keep making money. Yes, all of these strategies take work. Truthfully, it’d be a scam if they did not. Everything either takes time or money and honestly, most require some of both. However, when you work to create passive income, you are creating true time freedom for you and your family. Time freedom, where it does not matter if you decide to work today or head off to the beach, the money’s still coming in. Take the time to start building up those passive income assets up in your business today. There is an old Chinese proverb that you have had probably heard: The best time to plant a tree was 20 years ago. The second best time is now. The same is true with passive income assets. The sooner you start building it up against those assets, the better off you will be. Now to learn more about how to become successful with Affiliate Marketing, so you can start building up those passive income assets and start your journey to your six-figure business. Now, please know that we are rooting for you. We are here to help you create the time freedom that you and your family deserve.