Today I'm going to show you how to make passive income online. I'll be showing you 3 different business models that you can choose from to start with so that you can build a business that works for you.
If you'd like to see specific examples from several different businesses that I own, here are 9 ways that I earn passive income online:
With that said, please read on for some really important information about this desire we all have to earn passive income, because there's a lot of information about it online, and not all of it is true.
There are several different definitions of passive income. I'm aware of the traditional definition, such as earnings derived from a rental property, but there's a better way that I have years of experience with and have also taught tens of thousands of others to do.
It involves building online businesses that take advantage of systems of automation that allow transactions, cash flow, and growth to happen without requiring a real-time presence.
In other words, we don't trade time for money. Instead, we invest our time upfront to create assets in the form of an online business that can continually pay us back later.
There are several different ways to achieve this, and the 3 models I share in this video will give you an idea of how you might approach an online business that works for you.
COMMON QUESTION #1: Does generating passive income mean you don't have to put in any work to earn money?
No. Not at all. Creating various passive income streams takes time and a lot of hard work. It's about building a real business that solves a problem, and creating systems, or hiring people such that it can be run on auto-pilot.
COMMON QUESTION #2: Can you create a passive income stream that requires zero upkeep or attention that will pay you back forever.
No. All passive income streams, even traditional ones, require some form of upkeep and maintenance. Real estate portfolios and market investments cannot (correction – shouldn't) be walked away from forever, and neither should any type of online business.
With that said, however, online businesses can be fashioned in a way so that you can walk away from it for a while and it can still continue to run. An online business is a storefront that is open 24 hours a day, 7 days a week (even on holidays), and much more than real estate or market investments, building an online business gives you a lower barrier to entry, as well as a lot more potential upside.
Just think – how much would an extra $1000 per month help you? Imagine how much it would cost to invest to obtain an additional $1k per month in tradition forms of passive income, while building a business online is much more achievable.
Let's do some math to give you some perspective:
Imagine you sell a $25 product. You only have to sell 40 of them, per month, to earn an additional $1000/month.
Imagine you sell a membership into your program for $25 a month. You only need 40 members to generate an additional $1000/month. But then the next month, you obtain an additional 40 members who also pay you $25/month. Now you're making $2k per month.
The most important thing, however, is that whatever product or business you create, that it helps solve a problem. All good businesses solve a problem in some way, shape, or form, so make sure you watch the video to learn exactly how you can approach building a business online of your own.
Links mentioned in this video:
SPI Podcast Interview with Brian Casel:
Tools I used to start selling my first product / ebook:
Also watch 3 Passive Income Myths, BUSTED:
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Subscribe to this YouTube channel:
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Want to learn more about the smart way to make money online and start a successful online passive income business (without ripping people off or being dishonest)? Then make sure to visit the Smart Passive Income getting started page below:
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New and updated: "Podcast Marketing in 2020 (Top 5 Podcasting Tips that Get More Downloads and Subscribers)"
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These are helpful distinctions. I did in fact start my business on an FP foundation, but working toward a more non-time-for-dollar model.
Thanks Pat. This is exactly what I needed. I was trying to figure out whether to concentrate on freelancing or passive income. Thanks for answering this.
Another excellent video 🙂
“Expert Enough” — Such a relief! Thanks for the video Pat
$500 a month passively, is 70-80% of my monthly expenses living in Medellin, Colombia
EP model. I’m a tech writer and like to create How-To niche blogs on areas that interest me. So it’s a good fit.
I like the idea of putting in hard work now to reap the benefits later. I never really liked the thought of feeling like you are forced to work 40+ hours a week for the rest of your life until you are an elderly person. I’m not averse to hard work at all but I just feel like you also need to enjoy your life and not let work fully define your entire life.
Great video Pat! Sometimes the income sources that take the most work to become passive are the biggest money makers.
This video is about the business models. If you’d like to see specific examples of different businesses I’ve created that use these models, here are 9 ways that I earn a passive income online, including income and what’s working best: https://www.youtube.com/watch?v=dhgQc70ZV7Y
You just got a new sub, thanks for the time you spent on this subject 🙂
Thank YOU! 🙌🏼
Wow, you’re the man, Pat. Glad I found you.
Thanks Jordan! 🙌🏼
Xavi Hernandez really knows how to make money
The best way to make passive income is to teach others about making passive income
Wouldn’t have gotten the reference if I wasn’t an og fifa player 😂😂😂
@Quốc Hùng scam
FP = service-based freelance (to get started) to problem-solving product
AA = audience & advertising (affiliates, Adsense, sponsorships)
EP = expert (you can be an expert to someone else who knows just a little less than you do) to product (ebook, online course)
I’d love to hear Pat talk about print on demand & dropshipping businesses.
LOOL
Selling cocaine or finding escobar’s money
The EP model has proven to be the best model, especially in the Youtube channel universe. Video game streamers are a good example of this phenomenon. Podcast hosts use the AA model, but many have some expertise in some area.
Erik Mezmalis please send me the link
Just wonderful, I have been researching “best passive income business opportunities” for a while now, and I think this has helped. Have you ever come across – Qonmily Passive Formality – (do a google search ) ? Ive heard some great things about it and my colleague got amazing results with it.
I would say there is another type of passive income from passive investments that go for high returns like BetterWayToTrade.com
I personally prefer making money from home thanks to *LIVEONLINEJOB. COM* Their online jobs are really easy and do pay out. Yesterday I made $98.7 and I usually make $150+ per day
I’m personally using *LIVEONLINEJOB. COM* and it makes me around $300 per day. You can actually Sign Up for there. Thank me later. All you need in this life is ignorance and confidence; then success is sure.
I do worke..link me please
The best site if you’re trying to learn how to build an online business *LIVEONLINEJOB. COM* You can actually build a 6 figure business in 2019 with this
A great website for easy ways to make money online is *LIVENETJOBS. COM* you can also sign up. Hope this helps. The fool doth think he is wise, but the wise man knows himself to be a fool.
I personally prefer making money from home thanks to *LIVEONLINEJOB. COM* Their online jobs are really easy and do pay out. Yesterday I made $98.7 and I usually make $150+ per day
lol
new supporter ………Stay Connected
hope back frend.
I personally prefer making money from home thanks to *LIVENETJOBS. COM* Their online jobs are really easy and do pay out. Yesterday I made $98.7 and I usually make $ 650+ per day
3:02 thanks god. I was atleast right at this decision/thought/idea whatever.
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This was great, been searching for “affiliate marketing tutorials” for a while now, and I think this has helped. You ever tried – Neyameron Xiydeline Method – (just google it ) ? Ive heard some interesting things about it and my buddy got excellent results with it.
Lol ı think escobar start with the same analysis that you just write
Thanks for listing!
What could be more lucrative than trading the online market. I’m making so much investing in it.
@Carl Reynolds how much are you getting paid?
Well aren’t you just wonderful.
Alexander Rowan what company do you trade with ?
i cant believe that people fall for that…
@Gabriel Pichette
lol I feel sorry for them
@Tech Reviews Bots or burner accounts
Not all are rippers. I’m making genuine profit working with mr Alex sage
Isaiah Campbell amen brother!!!
😂😂Same thing I say about the law of attraction crowd.
@Kevin producciones 2 cómo lo haces ?
Hey what’s your Email? I have a huge business Inquiry
It is indeed very advisable to set yourself that passive income streamline. I’ve been able to create a steady passive income flow trading the stock market courtesy of the brokerage services provided by Mr Leon Marceli
Hey Lucas, I’m new to the stock market still trying to wrap my hands around it. May I ask what mr leon marceli stands to gain out of all this trouble?
Lambert Camera Best
Asides trading for himself and getting richer by the day he earns more charging each respective client 20% brokerage commission of whatever profit he makes for them
Lucas Ducote Would $1000 be okay for a clean start up with him? and how much profit would I earn?
Oh!! I see. Gradually getting the hang of things
Really like that Pat emphasised the patience and time that is required to build passive income. Needs to be known right at the outset.
Thank you for the rant. I am glad you didn’t lie and say it was easy like most of the other people out there.
Setting up a dreamfire52 account is another good option for passive income. I just opened my account 2 weeks ago and am already up over 20%. I’m also looking at fundrise but I need to do more research to see if they are legit.
Professional guidance brings about remunerative results. Great job Payden, you exceeded my expectations. Thank you.
It’s no secret that when it comes to trading profitably, Payden is indeed the right man for the job. No doubt about that.
I’m interested please. I want to build my portfolio, and trade profitably.
Oh that’s quite easy. Payden has helped me build my portfolio over the years, and make profitable investments. Reach him on … *Xanderpayden (a) g ma il. Com…* for further inquiries.
Funny enough, I got on his trading program too. Although I feel the commissions are quite high, excellent service overall.
As a new investor, Alec helped me become more confident, and to trade additional asset classes as my skills grew.
Spare Pat
@Mauricio Gonzalez well he actually had a good standpoint. The gig about anything online is that the house always wins, I make my own income passively using this idea. I definitely would like to air out more information on this to You if you need it
I don’t know much about passive income but I can say for a fact, with pro aid you sure to get lucrative ends on expenditure on the trade market
How so because of
Recent I’ve put my capital into investing my self and it’s been futile
Truth be told the market is broad and complicated. A right manner of approach is need in profit making.
I’ve been cooperation with sir Morten and with him it’s been really profitable
Get to his page
hovikmorte. com