- 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.
