10 Passive Income Ideas | How I Make $20k Per Week

here are 10 ways you can make passive income for each of those 10 ways we are going to go over how to get started and how much effort it takes to realistically maintain that stream of income as always time stamps are in the description below because I know how valuable your time is and you already know why you're here so let's get into it what is passive income and how hard is it to make a living with it I feel like people throw out the phrase passive income as like a way to advertise this idea of getting rich quick or making money instantly overnight and while passive income is something that you can set up so that you can make money in your sleep it still takes effort to set up if you just go online almost all the definitions of passive income say something like income that's acquired with minimal labor to earn or maintain or a money stream that requires little to no continuous effort which makes it sound like passive income takes no effort at all it's so easy to do but the reality is passive income is when you do a majority of the hard work upfront so that in return for that hustle and that hard work you can make money passively there is a hustle phase and when you make it through that hustle you can set these streams of income so that they automate and generate consistent income in the background setting up passive income for me has been a three-year Journey so far and it's allowed my business to generate about $20,000 a week so just know that everything is going to take time and effort and if you hear somebody saying like you can get rich overnight it's probably a scam or if you're watching this video and you're hoping for like this magical hey you can get rich in 30 days this video is not for you instead I hope that this video can help be a Launchpad into the world of passive income and get you started on setting the foundations for your income streams number one affiliate marketing affiliate marketing is when you you can earn a commission or fee for simply sharing a product that you love to your followers this commission can be earned through people clicking on a link or purchasing a product that you mention through your affiliate link there's no extra fee or cost for the person using your link for example I love St store no not sponsored it's a tool that I believe every single content creator can hugely benefit from and help you make money a lot easier as a Creator so I became an affiliate of Stan now when I refer somebody to use Stan through my link I earn 20% profit per referral it doesn't change the price for the person signing up it's simply what stand set up as a way to say hey thanks Millie for telling this person about us we want to thank you by giving you 20% of the transaction that's it last year the average salary of a full-time affiliate marketer according to glass door was $59,000 a year which is almost $5 $5,000 a week now those are the people that do affiliate marketing full-time that's their mainstream of income now of those surveyed in an influencer marketing Hub article 33% of content creators say that they're making over $10,000 a year with affiliate marketing so how do you get started we're going to do a little ranking system okay we're going to rank how hard it is to get started and how hard it is to maintain this income stream using a scale from 1 to 10 one being so easy a cave man could do it 10 being you will be learning and doing this the rest of your life for affiliate marketing I'd say two out of 10 entry level super easy to get started step one pick a niche step two apply to affiliate marketing programs and step three create your own links and start the Snowball Effect for step one the reason it helps to Niche down is because affiliate marketing works best when you have a platform or influence of some sort and the quickest way to grow online and grow audience that you can influence is by niching down and focusing on one industry one topic keeping all the links within your industry and topic some of the top niches that had the highest commission payout last year were e-learning and beauty and health with commissions of up to 30% Finance with commissions between 35 to 40% and the highest payouts were seen in SAS products which are paying up to 70% in commission SAS stands for software as a service for example Zoom they provide video conferencing software or MailChimp they provide automated email marketing these are both softwares that offer a service for step two of applying to affiliate marketing programs my top three favorite platforms you can apply to for General linking are Amazon influencer share a sale and magic links or you could go directly to a company's website that you love like canva tube buddy and apply to their direct affiliate marketing program step three once you have an account set up start making your links and place them everywhere YouTube video descriptions highlights on your Instagram page that has links to everything putting them in your Lincoln bio landing page put them anywhere and everywhere to create a Snowball Effect now for a full affiliate marketing tutorial you can absolutely watch this video I'll put it in the card up above where i' go deeper with all of those steps and you could really get started with affiliate marketing how hard is it to maintain income with affiliate marketing on a scale of 1 to 10 I'm going to give this one a solid five solid five because the success of affiliate marketing has a lot of well it depends on d d type scenarios for some it will be really really easy to apply to affiliate marketing programs set up your links and for others you'll have to build a following on social media first before you could apply to get into the program that you're looking at and then for some you'll be in an industry that has amazing commission opportunities like tech reviews you review expensive camera gear and you talk about it with your followers and if one person buys that camera boom you made $300 and then imagine growing an audience of like 10,000 or 100,000 people and 100 people buy the camera that you recommend then now you're making like $330,000 so if you're in a really profitable Niche that pays High commission could be a great way to maintain that income stream but again it it has a bunch of what if scenarios I think a common mistake that people make is they forget once you make affiliate links you need to keep directing traffic to those links or you're not going to earn anything you can't just make a link once post one video and be like oh my gosh I'm not making money I give up you know what I mean that's not really a realistic expectation for affiliate marketing now before jumping into our next idea I want to do a self-plug for myself and a course bundle that I created called the bsp model if you're a content creator or somebody who wants to be a full-time content creator you have goals to build your personal brand scale your social media platforms and profit off your passions 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