– Passive income, the golden ticket, having income without having
to continue to put in the work. Who wouldn't want that? (energetic music) Hey, it's Suzanne from
SuzannePerkinsM.com. And in this video, I'm
gonna share with you three of the best passive income streams that you can create in
2020 and way beyond. So first, let's get really specific on what exactly passive income means so that we are all on the same page. Passive income means that
you either invest your time or your money into something
and then it keeps working for you long afterwards,
bringing you in money. Now, if you're already wealthy, you can simply invest
your money as an investor. It's super hands off and
you can invest in a variety of low to high risk options. But if you're watching this video, the chances are that you
weren't born with a trust fund and you need to create
the income yourself.
No worries. That's exactly what I do. And the internet has put
passive income within the reach of more people than ever before. So if you have some drive
and you're willing to work, you can start bringing in
passive income yourself. And there are varying degrees to which all of these income
streams are truly passive. Some are more passive than others. So I'll make sure to touch
on that for each of them as we dive in. Number one is affiliate marketing. One of my very favorite
ways to make money online. It is a huge opportunity. Basically, you get paid
to refer other people to other people's product or a service.
And many companies, most
companies actually out there today offer some sort of an affiliate program where anybody can refer others
and make a little money. When someone you refer to a product or service makes a purchase, you make a percent of the purchase prices, which is your commission. Personally, I really like to
work with digital products as you're typically looking
at 30 to 50% or better. And that is the percent
of the purchase price. That's what you earn as commissions. Whereas with physical products, there is a lot more
overhead for the product. You're probably only
gonna earn like 5 to 7% of the purchase price. So you would have to work a lot harder to make the same amount of money. While some people treat
affiliate marketing more like network marketing, and they do a lot of
Facebook hustle to get sales, networking, providing value in
groups, doing Facebook Lives, it's not passive, and not what
I would personally suggest. Yes, those strategies work but you have to continue
to work to make sales.
If you stop working, you stop making money and that's not passive at all. Instead, you should focus on using content to promote your affiliate offers. Evergreen content that new
people can continue to find long after you have created it. For example, you can write a blog post or shoot a YouTube video
teaching people how to set up their email auto responder
system with active campaign. With a blog post or the video, you provide a link to
sign up for the service.
You put a little extra
effort into making sure that your video is SEOed
or search engine optimized so that people can find
it when they are searching for how to set up an email
autoresponder system. People will see your
video or your blog post, and then end up signing up for the service through your link. What's really cool about
most ongoing services is that as an affiliate, you can continue to get monthly commissions
ongoing each month if that person you referred continues to pay for the service. Pretty sweet, right? Now, yes, this takes work
to create the content and to set it up so
that people can find it, but people can find that
piece of content on their own for years to come, continuing
to bring you income ongoing. All right, when it comes
to affiliate marketing with content like this, every single piece of content is an asset.
The more you create, the more passive income you can generate. A single well done piece
of content can continue to bring you sales years and
years after it is created, creating a very passive
income stream for you. The second type of passive income is through YouTube ads revenue. This is super cool and it's
one of the many reasons that I choose to focus my
content creation on YouTube. Not only can you upload
your content to YouTube to bring in affiliate commissions, but YouTube will pay you as well. Yes, you have to work to
grow your channel first. You can't allow ads at the beginning. You need to have at
least 1,000 subscribers and have at least 4,000 watch
hours of annual viewing time before you monetize your channel.
It's just a little setting
that they won't let you do until you reach that threshold so they know you're a serious channel. But once you do, YouTube
will pay you money to put ads on your videos. Now, the amount of money that
you can earn from YouTube, it varies greatly. It is based on how many views
you're getting on your videos, but also on the niche that you're in, what your videos are focused on. I've heard it said that on average, a YouTuber with an established channel earns 5,000 to $8,000 per
month through ad revenue. But really it's truly
based on how many views you're getting on your videos.
It is also a bidding platform. So the more people that want
to run ads in your niche, in your industry, the more
they're willing to pay for it. And therefore, the more you will make. I had a friend who really focused on cranking out YouTube
videos for the past year and grew her channel exponentially. She is in a niche that pays
more for ads than most, and she earned almost $80,000 last year, just from YouTube ad revenue with a few hundred thousand subscribers. Now, when you have videos
that rank for keywords that have a large search volume, you will continue to make
money on a good video for a long time to come.
But in general, with YouTube, you want to continue to put
out content on a regular basis. Otherwise, you will see your
views and your revenue go down. So in this case, it's not
the most passive option, but it is a passive option. You will continue to make
money on a video you've created long after you've created it. But you will also want
to maintain your channel and continue to produce good content if you're looking to maximize
your earning potential. The third passive income stream
that I recommend for 2020 is offering your own digital products. Whatever information
that you can put together into an ebook, PDF download,
a video training series that fits the niche or the
industry that you are serving is a great passive income stream. So you put together the
digital content one time. You set up the payment processing and the delivery methods, and you will continue to make money on it anytime in the future
when someone purchases.
How much work this takes and how much ongoing work
it will take to maintain really depends on how you set it up. If you're publishing an ebook with Amazon, it's really simple. It's super hands off. You create the content. You upload it into Amazon, take a little time to set it
up so people can purchase it, and ta-da, Amazon handles the rest and you just make money
when people purchase.
But for most of what you
offer as a digital product, the main thing that you're
going to be focused on, ongoing, after the initial content
creation, logistics, and creating a good sales
funnel is all about your traffic and driving traffic to your product. You will be focused on generating
and driving the traffic or interested people to your offer. Again, you can do this by creating content like you would for affiliate marketing, or you can even just run ads. Directly run ads to your offer. But just like creating content for affiliate marketing,
the videos, blog posts, or podcasts can continue to
send traffic to your offer long after you've created them. Now, digital products are
a great income stream, but depending on how you
are delivering the content, if you have your own membership site, you have to maintain it. And if the topic changes often and the content needs to be refreshed, you may need to put in a little
time every once in a while just to keep that product relevant and to keep making money from it.
Yes, all of these strategies take work. Truthfully, it would be
a scam if they didn't. Everything either takes time or money, and honestly, most require some of both. But when you work to
create passive income, you are creating true time
freedom for you and your family. Time freedom where it doesn't matter if you decide to work today
or head off the beach, the money is still coming in. Take the time to start building up those passive income assets
in your business today. There's an old Chinese proverb that you've probably heard before. "The best time to plant
a tree was 20 years ago." So it would be productive today, right? The second best time is now so you're ready 20 years from
now or 10 years from now. The very same is true with
passive income assets. The sooner you start
building up those assets, the better off you will be. All right, to learn more
about how to become successful with affiliate marketing,
make sure to click the link at the top of the description for my affiliate marketing training so that you can start building up those passive income assets
and start your journey to your six figure business.
Again, this is Suzanne
from SuzannePerkinsM.com. Please know that I'm in your
corner and on your side. And I am right here to
help you start and grow your very own online business
so that you can create that time freedom and financial freedom that you and your family deserve. So subscribe, turn on notifications so that I can help you do just that. Also make sure to catch the next video as it becomes available. If this is your first time here, give me a shout out in the comments. I would love to welcome
you to the community.
And as always, be a superhero. Give me a big thumbs up,
and I will see you soon. (energetic music).
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