Friday, 20 March 2020

Passive Income Ideas: Best Ways to Make Money While You Sleep

Today we're going to talk about 4 ways to earn passive income while you sleep. And I'm going to debunk the number one most common myth about earning passive income so that you can start making money today. 

What Is Passive Income

Before we talk about passive income we have to define what passive income actually is. A lot of people tell me, you know I'm working at McDonald's and you know I'm working very hard, is that passive income? I'm getting a check every two weeks. And the answer is absolutely not.

It doesn't matter if you work at McDonald's or you're an accountant or you're an engineer. If you're trading your time. if you're going to work sitting in a chair, sitting in a cubicle, exchanging your time on this plant, that is not passive income. What passive income means is, no matter whether or not you are directly inputting your time whether you're sitting in your chair, sitting at your cubicle at your job, you're still earning money, you could be earning money while you're sleeping, you could be earning money while you're out with friends, you could be earning money traveling the world. 

Passive income. What it means is it's automated and it's happening whether or not you're directly working on it sitting in your chair in your office at work, at McDonald's, wherever you are, passive income is the key to automated living. Being able to go and do whatever you want without having to directly work and still earning money to be able to do whatever you want.

Passive Income Myth

Number one myth that I've heard about passive income that people talk about all the time is that you're able to start earning passive income tomorrow. I'm going to be realistic, if you've being around and you've been reading some article on this blog, you know that I always say it straight, I'm always honest about everything, always fully transparent. You are not going to start making passive income tomorrow. At least not in a long-term sustainable way. The methods that I am about to teach you are the methods to earn thousands and thousands of dollars, but it takes time to make them work and anyone else on youtube, on blogs, on TV, anyone that's telling you, you can make completely automated passive income starting tomorrow, they're most likely lying or they're trying to teach you how to become a drug dealer. 

The methods that we're going to talk about right now are methods that are long-term that you can actually use without going to jail, that will earn you money while you sleep. 

Passive Income Has the Snowball Effect

The good news is that passive income has what I like to call the snowball effect. And what the snowball effect means is you might only earn $100 your first week, you might only earn $500 your first month, but the beautiful thing about passive income as it grows it starts to snowball and gets bigger and bigger and bigger, you might only earn $100 your first week, you might earn $500 your first month, but your second month you might earn $5,000 especially if you're putting in work and you're dedicated and consistent using the strategies that I'm about to layout.

Let's Get Started

1. Amazon Affiliates

Before you tell me we've heard about this before. The problem with amazon affiliate is that people are doing it wrong, they're doing it in nonscalable ways. Everybody thinks that they will start a blog and their blog is going to explode and they can go off and retire in Thailand. That's not how it works nowadays. it takes time and energy and effort to grow a blog and actually monetize it and get it ranked in Google. So we're going to ignore that. 

We're going to go straight to the fastest possible method of making a significant amount of money with amazon associates and how you do that is creating top 5 and top 10 lists of the best products in 2019 or if it's 2020 in 2020 or of June of July right for the summer.

You want to make it very specific to a current time frame because people want to watch a video of the most recent information. They don't want to watch a top 5 video, a top 10 video about the best cameras of 2013. because that's obviously completely outdated and you see people on youtube who are making the top 5 best DSLR cameras of 2018, very specific, very new. 

People see that title and they see that information and they assume ok, this is probably going to be the most recent data until they watch it. And I've heard people talk about this all the time they say, why do people make these top 5 or top 10 best videos about digital cameras of 2020, they're not getting paid for that, are they? And that's the complete worst mentality about PayPal passive income I can't even describe it to you, and so the reason that they're doing that is it might take you 1 day, 2 days, 5 days, especially if it's your first time to create a video about the top 5 DSLR cameras in 2020. 

Some of those videos literally get 100,000 or millions of views and even if you get 100,000 views and that's a very conservative estimate if you are making a high-quality video and you are doing research about the best cameras and you're presenting it a fun energetic passionate way. the beautiful thing about that is even if you only get 100,000 views which are very conservative. If 1% of those people convert and buy, that's 1,000 people buying from your amazon affiliate link and you get paid every time somebody buys that. And you don't have to set up a store, you don't have to set up a website, you don't have to do anything besides making one video and you continue to get paid again and again, and the beautiful thing about youtube is, if you catch the viral system right if you get one video that takes off, all of a sudden, you could be making thousands and thousands or tens of thousands of dollar every single month in passive income just by making top 5, top 10 best reviews or tutorials about the best technology and then just simply linking it with an amazon affiliate link.

2. Credit Card Reward point

There are so many ways to make a huge amount of passive income using credit the card the correct way. Because cards like the business Inc preferred from Chase, you can get a 100,000 point bonus just for spending a few thousand dollars on your card that you would be spending anyway, especially if you have any type of advertising, especially if you have any type of expenses, you can put it on this credit card and you can literally earn money every time you spend money that you would already be spending. And if you use a credit card instead of a debit card, you get a ton of additional protection when it comes to fraud. There's absolutely no reason on earth that a human being would not use a credit card, there are only positive impacts of doing so and if you do so intelligently like signing up for the example the business Inc preferred. Spending $3,000 or $5,000 whatever it is, in the first 3 months which you'd already been spending on your business or your life in general.

You can make a 100,000 point, remember, for 80,000 points you can go anywhere in the world. You can have trips, you can have hotels paid for, you can get cashback if you want that, you can get an amazon gift card it's literally the same things like cash, and no one is probably utilizing the credit card point the way that they should be. So you can earn millions of points just spending money that you'd already been spending and you can earn passive income by doing nothing.

3. E-commerce

E-commerce is one of the best ways to make passive income for the long term creating a sustainable long term business on Shopify, on Amazon FBA with a Facebook ad agency, it does not matter what you choose. if you are doing things correctly and following someone who actually knows what they're talking about like our blog Then you can have a successful business within 1 to 3 months. Yes, it does take time to create an actual long-term sustainable passive income stream and a lot of other people might lie to you about that to try to get you to buy their products. I'm going to be 100% honest and transparent with you always and I'm telling you, you can literally build a passive income stream within 30 to 60 days if you do things correctly.

Amazon FBA basically means buying products in China for $1, shipping them to the USA inside of an amazon FBA fulfillment warehouse where Amazon handles all of the hard work for you, and then buying them for $1 and selling them on Amazon for $20 and then you take the profit. Shopify again is an incredible way to make money with drop shipping. It basically means connecting the buyer and seller. And the manufacture in China will ship it directly to your buyer who buys it from your Shopify store. You never have to see the products, you never have to do anything, there's no upfront investment, all you have to do is set up a Shopify store and set up your Facebook ad campaigns and the rest is easy. 

4. Tutorials

Creating tutorials about how to do things. Let me give you a couple of examples of how this works. How one of my friends get started was affiliate marketing for a website domain provider. What he did was he made a video best way to make a website in 2019 and he made an hour-long tutorial about how to set up your WordPress, how to do all these different things and the main link in that video was an affiliate link for Bluehost, so every time somebody actually set up a website and use Bluehost as their domain provider, he got paid. All you have to do is go out and find software and find companies that provide affiliate and then make tutorials on how to do things and then use their software or service in that video as the best way to do something and then you get paid every time someone finds help from you. You can start with zero subscribers, just be excited, be passionate, show your energy, it's contagious, people will watch you and youtube will reward you for making good content. 

Creating a tutorial on how to do things especially when those things require some type of software or service that has an affiliate program, is the number one best way to make income completely passively in 2020. 


99% of people reading this article will never take any action to create a passive income stream in their lives. So, be 1% out there, start hustling.

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