If you have spent much time online throughout the past few years then you know how many people have been talking about creating a passive income. Now, what you need to keep in mind is that no matter how many people tell you that you can create a passive income and never have to worry about it ever again, they are lying to you. A passive income needs to be nurtured every so often, and no, you will not be a millionaire within a few months.
Now that we got that out of the way, let’s dive right into the passive income streams that I like the most. Also, I will show you a percentage of exactly how passive these businesses are.
My Top 4 Passive Income Streams
Kindle Ebooks – 95%
Kindle Ebooks are a great way to make a passive income as once the book is written and published on Amazon you can literally sit back and watch the money roll in.
Does that sound too good to be true? First of all, it is not that simple, but those are the steps that you would take to make money. Once the book is written you will then be able to publish it to Amazon and wait for sales. Now, if you want to get sales quickly then you will have to do some marketing. If you want to see sales continue to grow months down the road, then you will need to market the book correctly and also work to get positive reviews. The more quality reviews you get, the better your book will look and rank, which in turn gets you more sales.
Kindle Ebook income accounts for roughly 20% of my income, so it is nothing small. Also, I spend about 30 minutes a week working on this business. Although I only spend 30 minutes a week, I have seen a decline in sales because of me not working on more books or trying to get more reviews.
If you want to learn how to properly create and sell Ebooks, then you need to check out this Kindle Ebook program. This is the best coarse I have ever been taken and it taught me almost everything that I know about ebooks.
Youtube Videos – 50%
If you came to my site from Youtube, then you already know that I create many videos and they are not very passive. So, why do I say this is a great passive income stream? Mainly because I have multiple Youtube channels and a couple of them get only a few videos a month published. If you saw the video that I created about the 10 passive income streams, then you know that Youtube publishers are only making between $4 and $7 per 1000 views. That is not very much considering that as of writing this I get around 50,000 views per month. That’s between $200 and $350 per month.
Now, I could make more money with Youtube if I published more videos and put up affiliate links in them, but I don’t do this as I use Youtube as a teaching tool, not a source of income.
If you want to know more about how to make a full-time income from Youtube, then check out this guide on Youtube.
Affiliate Marketing – 90%
When I first started with affiliate marketing I didn’t know a thing, but now I am able to create new websites and offers in order to get more affiliate sales. I am by no means an expert in this field, but I did learn from somebody that is. If you want to learn from the same person that I learned from, then check out his website, its called Affilorama. This site is absolutely free to anybody who wants to learn.
I am not going to go on and on about affiliate marketing, but I do want to leave you with one fact. From the time I started learning about affiliate marketing to the time I got my first sales, there was only 3 weeks in between. Now, affiliate sales make up roughly 28% of my monthly income.
Create An Actionable Business Model – 40%
I created an actionable business model using Amazon FBA. This is a great business to get into and the best part about it is that it is still growing. If you want to make a great income from Amazon FBA, then you can, but you need to start the right way.
I created a business that I ran by myself for about a year. After that, I started to hire people and train others around the world to do what I needed them to do for my business. This is where my business model became actionable. Without me knowing the steps and being able to teach my employees what to do, I would not have a business that was anything passive.
A couple tips that I have for anybody that wants to create a business model that they can run and not work at are actually pretty simple.
First, determine what tasks can be performed by 1 person. This is where you will have an employee who is answering your emails also answer the phone, make appointments, and do everything that a receptionist would do.
Second, find quality people that have the skills you need. As the owner/CEO of the business, it is up to you to find the right people. This is where most people make a big mistake because they don’t realize how tough some tasks are and how simple other ones are. Do yourself a favor, work every job/task until you know the ins and outs of it. This is really the only way for you to know how difficult certain tasks can be.
If you want to know more about how you can create a somewhat passive income through Amazon FBA, then make sure you send me an email or comment below. I am always willing to teach somebody that desperately wants to learn.