No, another shady article about passive income!
Wait, keep reading cause this is not like the others.
I know you're sick of tips like “start a blog”, “write an ebook”, “grow an email list in order to sell courses and affiliate offers”…
The problem with these passive income checklists, is that they're vague, and let’s be honest, you never take action after you finish reading them.
My intention with this video is to list the 5 concrete online methods that
- I've personally tested.
- Are correlated.
- Aren't present in the usual online checklists.
Ready? Let’s get started.
What’s passive income?
Passive income is the revenue you receive into your bank account after the work is done. It’s about building online businesses that can work for you without a real-time presence.
If you read a few stories about passive income ideas, it looks like you work a couple of weeks on a blog or an e-book and suddenly you have a 6 figure revenue.
Don’t get me started on people who talk about 6 figure businesses online! I started this blog exactly cause I was sick of those “gurus”.
Creating an online passive income is possible just if you have a long-time strategy. And that’s the reason why almost no-one has a passive income online.
It’s the old discussion of pain versus pleasure.
When it’s about avoiding pain, we’ll do everything in our power. When it’s about gaining pleasure… Well, we can do it tomorrow.
But we're not here to fool around so let’s get into the 5 ways to generate passive income online.
1) Use course marketplaces
When I talk about creating an online course, I usually get 2 objections.
- “How can I do it? There's nothing I can teach!”
- “Where do I find an audience that will listen to what I teach?”
First of all, everyone has something to teach. You definitely know more than many others about one of your hobbies, job or topic you studied.
If not, study something, and when you know enough about that topic, teach it.
But I want to address the “audience” problem, cause that's the main struggle.
When I created my first online course, I spent around 3 months building it, just to realise that I didn’t know how and where to sell it.
So, how can you solve this equation?
How can you find a continuous stream of people who can buy your courses?
The answer is “online course marketplaces”.
I've already posted an article that is specific about this.
In a few words, you can upload your courses on online communities that will promote them in exchange for a commission on each purchase.
Udemy is the most famous online course marketplaces on the web.
Its community counts millions of people.
After you upload your courses, Udemy will promote them to its userbase using ads on the platform, Facebook and Google.
Since uploading courses just on Udemy won't guarantee a substantial profit, the trick is to post them on more than a single marketplace.
There are many platforms similar to Udemy, and they're eager for new content.
Multiple platforms promoting your stuff, ensure multiple streams of passive income.
I personally use 10 different platforms where I upload my courses, and if you want to see what they are, I've posted the list on a pdf that you can download clicking on the banner below.
2) Borrow traffic
What if you want instead to avoid course marketplaces and keep 100% of your revenue? Where will you find recurring exposure?
Well, there’s a solution.
If you want traffic, you need to catch it from who already has traffic.
Find a popular blog with a similar niche to your course, or with visitors who could value what you teach. To be sure that a blog has enough traffic, use Similarweb.
Similarweb is a platform that compares any website traffic statistics & analytics.
Add the website link on Similarweb, and you can check if the monthly traffic is enough for you.
Then contact the website and ask if you can add a banner to promote your course.
Usually, blogs charge for advertising space, but if you don't want to pay in advance, you could propose to split in half the profits.
In this case, the website will take care of sending traffic to your course, and the quality of your content won't be doubted by the usual visitors of that blog.
In the absence of a course marketplace, you'll need to create the course on your own. If you want to know which are the best 5 Online Course Creation Software, I've posted the list on a pdf that you can download clicking on the banner below.
3) Sell external courses
Selling your own courses isn't the only solution. You can decide to sell somebody else's courses.
That's called Affiliate marketing, and it means earning commissions selling someone's product.
Udemy, for example, offers an affiliate program on all the courses in the platform.
Visit the Udemy affiliate page, register a new account, and then choose between the many categories in the platform.
At the top, you have the best sellers so you can promote what is already selling well.
But there are many other affiliate marketing networks out there as Clickbank and JvZoo, where you can find courses to promote.
The best way to promote a course is first of all to buy one you're interested in. On Udemy you can find cheap ones so the investment won't be excessive.
Go through it, and if you liked it, post a review on YouTube and include the affiliate link in the description.
Then reach the course creator and tell him you've just uploaded a video review of his course.
I’m sure he will share your video with all his followers!
4) Sell objects and software
Youtube is a great way to create quick content that will keep collecting views month after month. Writing an article takes definitely more time and effort than filming directly from your phone.
Not to mention that YouTube is the second biggest search engine on the web, and this gives your video a more significant chance to be found.
Until now I’ve just mentioned online courses, but you can affiliate even for physical objects and software.
Amazon has an affiliate program and allows you to sell all the products on the platform and keep a percentage between 5 and 9%.
But at the same time, many software and web apps offer affiliation.
You can use the same technique I've shown you in step 4: buy a product or software, shoot a video-review and post the affiliate link in the description.
Have you ever wonder why there are so many reviews of technology and other types of things on Youtube? Do you think they're doing it cause they like to do charity for big companies?
Scroll in the description, and you’ll find the reason.
5) Search for offers
We're surrounded by offers, discounts, coupon codes, flyers…
Especially during holidays like Christmas or Black Friday, offers are everywhere!
Affiliating for products, software or online courses is great. But it’s even better when there are offers on this objects.
Before I explain how to get traffic on autopilot for specific offers, I suggest you subscribe to the newsletter of all the websites/products you want to affiliate.
In this way, when there will be a new offer available, you'll be the first to know it.
If you follow my channel, you know how much I love Elementor.
This is the email Elementor sent me for Black Friday. A 25% discount.
As soon as I've received it, I've promoted it!
How did I do it?
2 options with Facebook
The easiest way is to promote during holidays and sale dates. There are many: Blue Monday, Valentine's day, Easter, Black Friday, Cyber Monday, Christmas, Boxing day… In all these circumstances, you'll probably receive a discount for your affiliate products.
All you need to do is to create a Facebook ad and deliver the promotional code with a chatbot.
Some companies send you all the content you need to promote their product. This, for example, is a page from Podia (one of the software I affiliate for), where I can download all the assets to create ads with Instagram, Facebook, Twitter, Pinterest and so on…
If you want to see the ad I created to promote Elementor during Black Friday, I saved the 2 ads I run on Facebook and the chatbot in a document that you can download clicking on the banner below.
The second way to automatically promote offers is about using the Facebook “Big Brother” superpowers.
When is the best moment to receive an offer? On your birthday! You can make yourself a present and at the same time spare some money.
Facebook allows you to target people who're gonna celebrate their birthday within 0-7 days.
Even further, Facebook allows you to target close friends of people with an upcoming birthday! This could potentially encourage friends to recommend products and services to users with upcoming birthdays.
Whether you decide to promote your own course or someone else's course/service, the bottom line is to start as soon as possible.
Online Passive income is one of the best possibilities Internet offers to create financial stability, and it's just stupid not to see the opportunity.
Reply in the comments to this question. “Which of these 5 methods gave you an a-ha moment? Which will you try in the next days?”