Today we talk about how to make money online did feel a little sleazy. But this article is the complete opposite. We’re going to be covering three ways that you can really grow a real passive income in your business no matter what niche or industry you’re in.
When it comes to making money online there’s a lot of noise and a lot of sleazy salespeople out there. So we figured that it’s about time that we start to talk about income on the YouTube channel too. So in this article, we’re going to cover three simple models that you can leverage to make money online and start building real passive income streams that will work for you while you sleep.
Now, this is not a get rich quick article. This is the get a rich smart article with lessons that we’ve learned from a ton of trial and error and years figuring out how to make money online and on the topic of doing this smart. I want to bring up something that’s incredibly important before we dive in which is getting clear on exactly what passive income is.
The truth is passive income is not a myth with the systems we’ve set up. We’re making money online 24/7 while we’re asleep whether we work or not. But it took work to get there. Passive income is amazing but there’s nothing passive about creating it. It takes work.
It takes time and it requires you to create real value for your audience and customers. And that last point is really where a lot of people mess up. You need to focus on your audience or your customers. The bigger the impact that you can make for them the more value you can create solving their problems improving their results.
And the bigger returns that you’ll see in the long run. So the goal here is to create as much leverage as possible. So for every one unit of your time, you can 5 x 10 x or 100 x the outcome you generate. Once we’ve covered off on the three streams I’ll also share with you our number one way to maximize that leverage to not only deliver a huge amount of value to your subscribers but also maximize your income from every interaction.
So the first dream is advertising or ad revenue. This is where there are ads displayed on your content whether it’s YouTube or Facebook or another platform as well. And a percentage of that ad revenue comes to you. Now this one’s not big but if you think this way if you’re already creating videos to grow your business online then switching on ads is completely passive.
You’re getting additional output from exactly the same input. We started out switching YouTube ads on purely to give us every shot of success on this platform. It’s in no way proven or acknowledged by YouTube but it makes sense that YouTube would value more of the content that it can make money from.
But now that small trickle of ad revenue has turned into more than a full-time wage
The second stream is Affiliates. Now where a lot of people go wrong with this is that they’ll start trying to refer sales to the ones that are going to pay the most Commission or the highest percentages where the product itself may not be the best solution or a good product at all.
And that’s something can and has given affiliate marketing a bit of a bad rap but this is actually our favorite one. You don’t need to build your own apps your own products or have your own services. You can start out as easy as just writing a list of all the products and services and things that you love.
The things that you use in your business and then you can identify the ones that are going to be a good fit for your audience as well that are going to help them with their pains or challenges.
And then you can introduce those apps to those programs and services to them. It’s a win for you. It’s a win for your audience and it’s a win for the brand or the product of the company that you’re referring to as well.
But the biggest thing to remember is to come from a place of integrity you really only want to be referring or recommending products and services that you use that you like and that are going to be a good fit for your audience and actually help them with wherever they’re stuck or with whatever it is they’re looking to achieve.
So a couple of really quick examples for you something that we use all the time and something that we recommend to our viewers is Rev.com. It’s an amazing transcription service where they’ll transcribe your videos for you and create the subtitles that you can upload to Facebook or to YouTube.
But outside of our business if you’re doing something like dog training it could be that you’re recommending which food to eat or the toys that you recommend or even think outside the box a little bit more and go something like pet insurance which is something that you’re generally going to need to put a lot of time into researching and finding good ones.
If you find a good one that you can recommend that to your viewers to your audience because you know that’s going to help them with their dog training as well. And if you’re in the health and wellness space it could be things like proteins or supplements or any other diet products or it could even be things like gym memberships.
Something is going to help your audience and something that they’re likely going to be looking, for now, to get these referrals or these links out there and educate people with what you’re recommending you could create how-to videos so showing people how to do something.
You could create a walkthrough video where you’re taking them through how to use a product or a service or you could create a review video where you’re doing a review on one or multiple products but again and I really can’t say this enough is really important to come from a place where you’re only recommending good products, not the ones that are paying the best commissions or referral fees.
3. Digital Products
The third revenue stream is your digital products. So if you’ve got courses where you’re looking to create courses any training any master classes any sort of premium content or even membership sites. So this is such a great way to make money online. Packaging up your skills your knowledge your expertise in a way that other people can benefit from that you’re able to help people with those things.
The other great thing about digital products is that in most cases you can spend the time creating them once and then sell them an unlimited amount of time.
So those are my three favorite revenue streams and they’re the ones that we’ve focused on ourselves. The cool part is that you can switch them on almost any business and with some simple systems you can not only increase your results 10 or 100 fold but also add a ton more value to your subscribers and your customers in the process.
And a protip the easiest way to maximize all of these and to make them truly passive is using email marketing and funnels you can segment your subscribers based on their interests. You can add a ton of value with helping them with their unique challenges and we’re relevant.
You can show them products or services that will most likely help them using affiliate links as a link on the screen.