7 Passive Income Ideas - How I Make $2,000+ Per Day!
B1
passive income is one of the most highly
debated topics in finance some people
say that it's real other people say that
it's a total myth but in today's video
I'm going to share with you exactly how
I made over $800,000 in passive income
last year alone in today's video I'm
going to be sharing the seven ways that
I've made passive income that actually
work I'll explain them here on camera
but I'll also take it one step further
and switch you over to my computer so
you can see real examples of all of
these now before we get into this video
if you guys know my style I like to try
to pack as much valuable information
into these videos as possible so for
each one of these passive income streams
I'm going to share with you the biggest
piece of advice that I can give you that
I wish I had when I was starting out
with each of these so Guys Without
further Ado if you want a real video on
how to make passive income this is going
to be the one and let's get straight
into it okay so we've got seven
different passive income streams to
cover in this video for your guys' sake
I'm going to put the easiest ones first
and then as we get throughout this video
we'll get into the medium difficulty and
the hardest ones to start so the
absolute easiest way to make passive
income is to put some of your money into
a high yield online savings account now
if you're not familiar with what a high
yield online savings account is
essentially all it is is a bank account
just like your checking or savings
account but the bank is willing to pay
you a higher interest rate now I know it
sounds like this is something that's too
good to be true but most people just
don't know that these accounts exist so
if I switch you over to the computer
here if you just go to Google and type
in high yield online savings you're
going to see a bunch of different
results what I would recommend is just
clicking on one of these lists and it's
going to show you a bunch of different
banks that offer these types of accounts
now the biggest thing you need to know
about this one is that you do need to
have money to put into these accounts in
order to get passive income from them so
I say that this is the absolute easiest
one to make passive income however the
catch here is that this is once you
start to make money or if you have some
money in savings switch it over to a
high yield online savings account and
you are just automatically going to get
passive income from that now as I
mentioned before for each of these I
want to give you the piece of advice
that I wish I had when I was just
starting out with these and that would
be the best banks that have high yield
online savings that I've found over the
years and starting out the very first
one would be Capital 1 Capital 1 has a
performance 360 account that's what this
is called and they offer 3.8% interest
the reason that I say Capital 1 is one
of the best high yield online savings is
because they are an extremely reputable
bank and a lot of people already bank
with capital 1 so it is extremely easy
to open up an additional count within
Capital 1 that is a performance 360
account and just transfer some money
into that in order to get this started
now the other two banks that I really
like for this the second one is Ally
they have been around pretty much from
the start of high yield savings accounts
they are offering 3.8% as well and then
the last one is betterment betterment
typically tries to keep their interest
rate as high as possible so they are
offering a 4% interest rate on whatever
amount of money that you put into their
savings account okay so with that one
out of the way let's get into the second
way to make passive income this is the
first business on this list and this one
is the easiest and the fastest way to
make passive income so what this one is
is called Amazon KDP so if I switch you
over to the computer here if you just
type in Amazon KDP into Google the first
result here should look just like this
this is Amazon if you click on this it's
going to bring you over to Amazon Kindle
Direct publishing that's what KDP stands
for and essentially what this business
is is you can sell books on Amazon but
I'm not talking about either writing
books as a full author and selling those
or buying books and reselling those on
Amazon what I'm talking about is
creating books like this and the way
that Amazon KDP works is all we have to
do is upload this cover file the front
and the back which this one is just
blank on the back and then what's going
to go inside the book which is just
lined pages in this instance and then
once we've uploaded those Arc files to
Amazon Amazon creates a virtual listing
on their Marketplace and anytime someone
purchases this book book on Amazon
Amazon actually prints that in their
book printing facility ships it out to
the customer and handles all the
customer service this is one of the
easiest online businesses that you can
start that makes money quickly and it is
strictly passive income once you've
created those Arc files and uploaded
those to Amazon they stay on Amazon
forever and then as people make
purchases Amazon does all the printing
shipping and customer service that is
the definition of passive income we do
the work up front once we've uploaded it
there's nothing else for us to do but to
receive our split of the profit on every
order on going into the future so guys
this is a business that I started back
in 2018 and it has been generating
passive income since then there has been
a stretch of over a year that I haven't
even opened up this account I haven't
touched it I haven't thought about it I
haven't even looked at it and it's been
generating income all this time now with
that being said this is absolutely a
business that anybody can start you can
do it from anywhere in the world and you
can start totally for free and as
promised a really good piece of advice
that I wish I knew when I was starting
out in this business is that there are a
bunch of different categories of books
that you can sell on Amazon KDP and of
all of those categories the absolute
best one that sells really well is
creating Word Search books this is an
example of an Amazon KDP word search
book when you open this up it actually
has word search puzzles inside and the
reason that these books sell so well on
Amazon KDP is not many people know how
to create the word search puzzles so if
you can learn how to create the word
search puzzles and you know how to
upload those to Amazon KDP you are
competing with very few other sellers
that also know how to do this now for
those of you who this is the first time
you're seeing one of my videos I just
want to share with you that if you do
check out my YouTube channel I have full
step-by-step tutorials on how to do all
of these businesses I'm one of the
people here on YouTube that shares
things very openly so I'm sharing all of
my tips and tricks the things that I've
learned through trial and error and my
exact processes on how I do these
businesses so with that being said for
those of you who are interested in
creating Word Search books for Amazon
KDP I will leave a link in the
description below to a full step-by-step
Amazon KDP tutorial it's 100% free it's
here on YouTube so if you do want to
watch that video and start an Amazon KDP
business for yourself that link will be
waiting for you down in the description
so guys as far as starting an online
business that generates passive income
Amazon KDP is by far the easiest and
fastest way to do that however it's not
the only easy way to do this this brings
us into the next way to make passive
income and this one is also easy to
start so as we just discussed Amazon KDP
is for creating and selling books on
Amazon but Amazon has another very
similar Department called Amazon merch
on demand which is for creating and
selling T-shirts on Amazon so if you go
over to Google and you typee in Amazon
merch on demand this is the page you
looking for specifically so if you click
on that this is going to bring you to
their homepage for Amazon merch on
demand but essentially this is the exact
same thing as KDP except you're creating
designs for t-shirts instead of books
guys this is a business model that I
started even before Amazon KDP and it is
still generating passive income now to
show you a real example of this let's go
over to Amazon and if you just look for
funny golfing t-shirt this is just an
example you can have t-shirts on any
topic but this will give you a good idea
of how this works so all of these shirts
they look like they are shirts that are
actually printed held in inventory and
shipped out to customers but as soon as
you see all of these mockups that all
look the same so these are three totally
different designs but the mockup of that
t-shirt looks exactly the same for all
three of these and as you keep scrolling
through you're going to find more of
these that's the same exact mockup these
are all going to be done with Amazon
merch on demand so if we click on one of
these the confirmation that this is in
fact done with Amazon merch on demand is
the label right here so essentially the
seller has just created this simple
design uploaded that to Amazon Amazon
creates this virtual listing just like
the books for Amazon KDP and then when
someone purchases it Amazon prints it in
their t-shirt printing facility they
ship it out to the customer and again
they handle all the customer service now
before I get into the one biggest piece
of advice I can give you before starting
Amazon merch on demand the big thing
that I want to clarify here is that
these are being sold for a lot more than
what those Amazon KDP books are being
sold for so that means that the profit
margin on these is bigger than Amazon
KDP however the catch to that is that
there are more people doing Amazon merch
on demand than Amazon KDP this is where
the biggest piece of advice that I can
give you comes in my best piece of
advice is to find out what are all of
these small niches that other sellers
haven't thought of yet and create your
designs in those essentially all the big
popular niches that all the other
sellers can easily think of they are all
going to be full they're all going to be
oversaturated a ton of people have
already created designs in those however
if you learn how to do Niche research
you can find all these small gaps where
people have not discovered yet and you
can create your t-shirt designs in those
now again this is another business model
that I have created a full extensive
step-by-step tutorial on walking you
through everything from the idea that
you want to start this business to doing
that Niche research creating your
designs and how to upload them to Amazon
merch on demand so guys for those of you
who want to start this business model
again I will leave a link down in the
description below so I really hope that
you guys take advantage of this one or
the Amazon KDP one both of them will
walk you through everything you need to
start those businesses all right guys so
those are the first three ways to make
passive income those are all of my easy
options for you so no matter which one
you are starting those are going to be
the easiest to start the next three that
I have on this list are going to be the
medium category and then the last one is
going to be the hardest so let's get
into the first of the medium difficulty
passive income streams to start all
right so this next passive income stream
has been around forever and you've
probably done this without even
realizing that you've done it before
however now it is available to do online
using the internet and this is what
turns it into passive income so what
this business is called is affiliate
marketing now affiliate marketing is
what this is technically called but
really what it is is using company
referral programs so in person if any of
your neighbors or any of your friends or
family have asked you hey what was a
good one of these or who was a good
person who did this for you and you've
given them your recommendation or your
referral that is what affiliate
marketing is however what a lot of
people don't realize is that almost
every big company out there has an
affiliate program or a referral program
where they are willing to pay you a
commission for every person that you
recommend to them now as far as doing
this in person it's not a very passive
income business because you have to be
having conversations you have be sending
links to people however if you take this
to the online environment you can turn
this into a very good passive income
stream so there's basically two main
ways to do this the first way would be
creating a Blog style website where you
are writing information about different
products that you recommend people can
then find that on Google they can read
your article and they can click directly
on your affiliate or referral link to
that product it brings them over to the
website where they can make that
purchase all of which will give you
credit from the company which they will
then pay you a commission automatically
now that is kind of the gold standard on
how to do affiliate marketing online
very passively however there is another
way to do this that works even better
than creating blog style websites and
this would also be my biggest piece of
advice I could give you that I wish I
knew when I was starting out in
affiliate marketing what this is is
instead of creating a website and
writing blog articles create a free
YouTube channel and instead of writing
blog articles film those as videos what
I have discovered over years of trial
and error with this is that people just
want to watch videos nowadays instead of
sitting there reading articles I believe
I read something that said that 70% of
the internet traffic is watching videos
now instead of reading articles so if
you can get yourself to create videos
about products giving you a
recommendation and putting you a
referral link to that product in that
video that is going to perform so much
better than writing those articles and
posting them on your website now I will
say once you know how to do this it does
become easier over time but there is
definitely a barrier to entry that keeps
most people from starting this business
now again if you are interested in
learning more about doing affiliate
marketing to create passive income I
will put a link to a full affiliate
marketing tutorial again this one is
here on YouTube totally for free that
link will be down in the description
below all right so with affiliate
marketing out of the way that brings us
into the next way to make passive income
and this one again is going to fall into
the medium difficulty what this one is
is specifically creating a YouTube
channel now as we had just talked about
you can do affiliate marketing on a
YouTube channel however you can also
make YouTube AdSense now for those of
you who don't know what YouTube AdSense
is it's essentially when those
advertisements play before videos during
videos or after videos the person who
created that video and uploaded it to
YouTube gets paid for each one of those
ads now I will definitely say that the
amount that the video creator gets paid
for each one of these ads definitely
varies and that's based on a few
different factors however there is one
specific thing that you can do to make
sure that you get paid the most for each
one of these ads and this is also the
biggest piece of advice that I can give
you if you do want to start a YouTube
channel and what that is is to
understand that you can either create
entertainment content on YouTube or
educational content on YouTube
entertainment content is creating Vlog
Style videos or things that people are
just watching just for fun however
education ation content is where people
are coming in trying to learn something
from your video if you can create a
YouTube channel that is focused around
educational content the advertisers on
YouTube pay significantly More For Those
ads so each time someone watches an ad
you will make a lot more money compared
to the entertainment Style videos now
with all that being said once you create
a video and you publish it to YouTube it
will continue to get views just totally
organically for years to come and when I
say years to come I'm not talking about
one or two years I'm talking about five
10 15 years down the road the videos are
still getting views which means that you
are still getting paid for every time
someone watches One of Those ads guys if
you are thinking about creating a
YouTube channel it is one of the most
proven ways to create passive income and
if you creating educational Style videos
you can actually be helping your viewers
by sharing the things that you've
uniquely learned in your life all right
guys so I've got two more on this list
these are both proven ways to make
passive income the first one is creating
digital downloads now if you've never
heard of a digital download before
essentially what that is is you create a
file on your computer and then you offer
that for sale to other people and they
can purchase it online and it instantly
sends it to them to download to their
own computer now if you haven't seen
anything like this before let me just
show you a good example of this if you
go over to etsy.com I'm just searching
for wedding invitation but there are a
million different examples of digital
downloads if you scroll through here
you're going to see that some of these
are actual printed cards where they will
print them and they will ship them to
you but others are just digital
downloads so for this one for instance
the person who created this listing has
just created this layout right here and
then as you scroll through the photos
you can see that the person who
purchases it is just able to customize
that specific layout and then they can
print it themselves this is a perfect
example of a digital download now as far
as the biggest piece of advice I can
give you if you are going to create a
digital download it's to think about
what you have learned in your life that
you can share with other people that
will save them time so for this wedding
invitation example if you are a graphic
designer you can create these templates
or these layouts that other people
really like and they don't know how to
create you are saving them time you are
saving them the trial of error of trying
to create it themselves another example
in a totally different Niche just to
give you some ideas here is you could
create a budgeting Finance spreadsheet
that has all the calculations built into
each column and you can sell that as a
pre-made budgeting tool that people can
purchase and it instantly downloads to
their own computer now guys for those of
you out there who do have a good idea to
create a digital download about once you
do create that you can list that on a
Marketplace website like Etsy or there
are several other ones out there people
will organically find it on their own by
coming to that website's Marketplace and
then every time someone makes a purchase
it'll automatically download to their
computer so just like that we are on to
the last way to make passive income in
this video this is going to be the
hardest one on this list and what this
one is is creating online courses now
for those of you who don't know you can
actually create an online course and
sell it on udem me or you can sell it on
skillshare and essentially these are
marketplaces that sell your online
course for you you're even going to see
other YouTubers creating online courses
just to generate more passive income but
all this is is creating a very formally
laid out step-by-step course teaching a
specific topic now although this
generates great passive income it is
definitely in the hardest difficulty to
start and that is because before you can
create the course you need to have all
these skills and knowledge in order to
teach that topic so my biggest piece of
advice I can give you if you do want to
create and sell an online course to make
passive income is to think about two
places of information first would be
your career and second would be your
hobbies these in the vast majority of
cases are going to be what you know
enough information about that you could
put together a full course on so guys I
hope this video has helped you a lot
don't forget about all of those full
free tutorials down in the description
for any of the businesses that you do
want to start those will walk you
through everything step by step all
right guys that's it for this video If
you enjoyed it please give it a thumbs
up if you have any questions at all let
me know down in the comments otherwise
I'll plan to see you guys all in the
next video
