Passive IncomeJobs Online 

Passive Income Work – How To Make $27k per Week

Nine different ways that you can make

passive income and for each of those I’m

going to talk about how hard it is to

get started

how hard it is to make 100 a month from

it and how hard it is to maintain once

you’ve created the thing in the first

place

for me in my business these nine

different sources generate around 27

000 per week these days with varying

degrees of

passiveness and this has taken

I like eight years to build up so don’t

expect to be hitting those sorts of

numbers when you first get started but

this is the video that I wish I would

have had when I started my financial

independence journey many many years ago

let’s go for it all right so when I say

passive income I always air quote it

because there is no such thing as

passive income there is no way to make

money without doing anything at all

but when I say passive income what i

mean is that its money that is not

directly tied to our time so let’s say

you were to write a book

if you write a book you publish a book

that book is now on bookshelves you’ve

done the work

kind of once to write and publish the

book but now any time the book sells you

make money from royalties

that is passive income you could

be making money while you

sleep

because you’ve created this thing which

is out in the world which is generating

income for you the other thing with

passive income is that it always takes a

very long time to get going so

if you see any ads before this video

talking about how you can get rich quick

by whatever scheme or if you see people

in the comments pretending to be me

saying oh my god here’s how you can get

rich quick with crypto what’s up this

number

that is all a scam it’s not gonna work

there is no way to get rich quick it is

not a thing so if you’re looking for a

get rich quick scheme

those things just don’t exist so you

might as well not even try and the way i

think of this is that ultimately money

is just a medium for exchanging value

the only way to make money is to provide

value and the only way to make

passive income passive money is to

provide value in a way that is not

directly tied to your time so please

please please do not try and join a

the get-rich-quick scheme they don’t exist

I’ve had lots of massages over the years

from people who have

tried signing up to a get-rich-quick

crypto scheme or a gambling scheme or a

hey here is how you

kind of play poker online none of these

things ever work people always end up

losing money

the only way to make money is by

providing value and so

let’s talk about the nine different ways

that you could provide value if you

wanted to just before we dive in I want

to tell you that I’ve just launched my

brand new Skillshare class about

productivity for creators how to start a

successful side hustle

that’s linked in the video description

skillshare is sponsoring this video

I’ll tell you more about skillshare

later on but

I want to plug my class because i

think it’s genuinely really good and

people like it and it will help

you get tips on how you can start a side

hustles in your spare time anyway

let’s get into the video all right so

let’s kick things off by investing in

stocks and shares

and in this context the way that we

provide value is by offering up our

money providing money and investing in a

service

is in a way giving a form of value and

so when we give our money to

a company in the form of buying their

stocks it makes sense that we would get

some kind of return for that investment

and we’re starting with this because

investing in stocks is the easiest way

to make

any kind of passive income if you have

any sorts of savings and they’re sitting

in a savings account earning 0.01

the interest they’re not doing very

much for you whereas if you had those

savings and put them in stocks you could

potentially be earning passive income

from the money that’s otherwise just

sitting there now I’ve got a whole video

called the ultimate guide to invest

in stocks and shares for beginners which

is going to be linked over there

somewhere so that is a

solid half-hour-long introduction to

stocks and exactly how they work but the

the thing that I recommend for most

beginners as a non-financial advisor and

this is not financial advice purely for

entertainment purposes only also people

say

or at least the thing that I do is that

all my money that’s in stocks

and shares are invested in

index funds now an index fund is

something like the s

p 500 and when you invest let’s say a

thousand dollars in the sp 500

that means that your thousand

dollars are distributed amongst the top

500 biggest companies in us so you

know weighted by how big they are so

like you know

two percent of it would be in apple two

percent in facebook two percent in

google

two percent in Microsoft and then you

probably won’t have heard of the 500th

the company on the list but

all the big us companies

you’ve heard of you end up investing in

all of them

a little bit at a time so if you want to

get started with that all you need to do

is sign up to a stockbroker if you’re

in us, you can use

Weebly I think I’ve got a link in the

description if you’re in the UK you can

use free trade or vanguard basically

whatever country you’re in just google

the phrase best stock broker platform

your country name and you’ll find

something that works for you and then

it’s very easy to be able to invest in

an index fund so within our famous side

hustle assessment matrix um we’re going

to give the difficulty of starting a

one-star rating one out of five it’s

very very easy to get started with

stocks

how hard is it to make a hundred dollars?

a month by investing in stocks and

shares well this kind of depends because

it depends on the performance of the

the stock market overall so in the last 12

months from 2020 to 2021

the s p 500 has increased by

about 50 percent

that is a lot it’s like gone up

by a solid 50

despite covet and everything going on so

if in April 2020

you had invested 2 400 in the sp 500

the fact that it’s gone up by 50 means

you would have made 100

a month but this is not the

way to look at it because you know

things can go up and down and the stock

the market has different level levels of

performance depending on what time

the period you’re looking at

but if we average out the last 30 to 50

years the s p 500 has had a roughly

10 point something percent return which

means every year on average over the

long term it goes up by around 10

this is not inflation-adjusted for any

economist among us and so if we do some

back of the envelope calculations if we

want to earn a hundred dollars a month

passively through stocks and shares we

would need around about 12 000

invested in the sp 500 to make that ten

percent

twelve hundred dollars a year which is a

hundred dollars a month but as I talk

about in that video about stocks over

time we have compounding and so

if you put in seven thousand five

hundred dollars in the s p 500 and you

left it there for five years

then five years later you would be

making roughly 100 a month

if we go by this very average figure of

10 a year or if you invested 5 000

in the sp 500 then 10 years later you’d

be making 100

a month in purely passive income again

assuming the 10 average so overall how

hard is it really to make 100

a month in passive income from stocks

and shares well it kind of just depends

on how hard is it for you to make

five thousand seven thousand five

hundred or twelve thousand dollars in

savings and put them into a

stock market index fund uh and crucially

this is money that you shouldn’t need to

touch in the next five to ten years at

least

so basically how easy is it for you to

them to make that sort of money

varies massively depending on

which country you’re in

uh and what your circumstances are and

what your job is but if you’re in the UK

or us where the median

kind of average salary is around about

fifty thousand dollars something like

that then

again depending on your circumstances

it’s not that hard to get ten thousand

dollars in savings obviously if you’re

supporting a family of fifteen people on

fifty thousand dollars it’s different if

you’re a single

person, again it’s different but I’m

gonna give this roughly a three out of

five

star rating for the difficulty of getting a

hundred dollars a month obviously if you

live in a country like India where the

average salary is three thousand six

hundred dollars a year

it’s very very difficult to make ten

thousand dollars in savings overall and

finally the third category on our side

the hustle assessment matrix is how hard is

it to maintain this income

once you’ve set it up in the first place

and we’re gonna give this a one-star out

of five because once you’ve got the

money in you just like set it and forget

it and it’s not that hard to maintain

there are other sources of passive

income that requires

higher degrees of maintenance over time

but stocks and shares is a very very

easy way to make passive income and to

use my example these days my

stocks and shares portfolio which I’ve

been investing in since 2015

is now worth around about 350 000 and

the vast majority of that is in the s p

500 index fund now I can’t be bothered

to work out the actual inflation

adjusted returns for that but again if

we assume a very very rough average of

10

a year then that averages out to around

682 dollars per week in purely passive

income all right idea number two for

generating passive income is to start a

youtube channel this is something i

will specialize in because I’m here on

youtube and I teach a course

called the part-time YouTuber academy

uh linked in the video description where

I teach people how to do this sort of

the thing so let’s use our side hustle

assessment matrix and we’ll talk about

this how hard is it to start a youtube

channel well I’m gonna give this one out

of five stars because it’s very

very easy to start a youtube channel

you just go on youtube.com you click

create a channel and you can upload

videos by just filming with your phone

and uploading it in reality

it’s a lot harder to make good videos

and making good videos is how you grow

on youtube

but getting started on youtube is very

very very straightforward the real

question is how hard is it to actually

make real money from youtube so again

let’s say we want to make a hundred

dollars a month in passive income

what does that look like well firstly to

be eligible for monetization on youtube

you need

a thousand subscribers and four thousand

hours of watch time

it took me six months and 52 videos to

get my first 1 000 subscribers and if we

look at the averages it takes

on average 90 some videos to get to

a thousand subscribers

so that’s quite hard if you’re thinking

you’re gonna start a youtube channel and

start making money from day one

you’re you know that’s not

gonna happen it took me 52 videos six

months to get there

um so if people message me like hey i

want to start youtube I was like look

you have to be able to put in the effort

and do this for a very long period of

time

uh at least once a week I say for at

least two years before you can expect

anything in return but let’s say you’ve

hit your thousand subscribers in your 4

000 hours of watch time

how hard is it to make 100 a

month well on average the kind of

revenue per thousand views on youtube is

around about two dollars

so this varies massively but let’s say

on average about two dollars per

a thousand views therefore if you want to

make 100

a month you need 50 000 views on youtube

to make 100 a month let’s say you make

one video per week and let’s assume

you’re not getting any traffic on your

older videos that mean every video you

make needs to get around about

12 500 views and very roughly the

average youtube channel can expect

around about 20 percent of their

subscribers to equal the average view

count for each video so on youtube if

you had

62 000 subscribers very roughly very

averagely you can expect 20

of them i.e 12 500 views on each video

and assuming you have no evergreen

content of the long term

you would need around about 60 000

subscribers to be making 100 a month in

the reality you make 100

a month a lot before 60 000 subscribers

I think I was making 100 a month when i

had like 10

000 something subscribers like it were it

was fairly early on but

when it comes to assessing how hard is

this to do I’m going to give this a

4 out of 5 stars it’s very hard

to make compelling youtube videos

and it’s very easy to get started but

it’s hard to do well it’s worth

it’s a great skill set it’s really

fun

you get to meet people across the

internet you get to learn how to talk to

a camera and how to film and video edit

and it’s really

great but it’s very hard to actually

make money from youtube finally in terms

of effort to maintain

like actually getting that first 1 000

subscribers is a lot harder than keeping

it growing because once you’ve got a thousand subscribers and once your channel is growing it means you’ve landed on a formula that works

and so maintaining it then becomes

easier than starting from scratch and so

in our side hustle assessment matrix

we’re going to give maintenance of a

youtube channel passive income stream to

be around about 2 out of 5 stars to use

my example I made 70 videos before i

started making any money from youtube

AdSense and these days the youtube

channel makes around about 12

000 a month in passive income from

youtube ad sets now again this is not

entirely passive because I keep on

uploading new videos

but the bulk of the amount of

money that we generate from ads

is from older videos rather than videos

that was uploaded this month so with

that caveat twelve thousand dollars a

month passive income is run about three

thousand dollars a week thanks to this

youtube channel and thanks to you guys

for supporting it and all that stuff

there are other ways of monetizing

youtube like brand deals and like

selling merch and there’s all

another sort of stuff but it doesn’t

count as passive income through

youtube which is why I’m not including

this

in this side hustle assessment matrix

idea number three for making passive

income is to start a podcast this is

generally easier than starting a youtube

channel although growing a podcast is a

a lot harder than growing a youtube

channel because podcasts

themselves don’t have

an algorithm that’s helping them grow in

the fact a lot of podcasts grow

by having a youtube channel that is

kind of weird right so how hard is it to

start a podcast well again one out of

five stars it’s very very easy to start

a podcast go on anchor

FM and you can use your phone

and you can pass your phone around

between you and your friends and you can

start a podcast you can use a website

called riverside.FM that I’ve recently

invested in as an angel investor

riverside makes it very easy to record

remote podcast interviews

it’s very very easy to start a podcast

but how hard is it to make 100

a month in passive income from a podcast

well again this is not quite passive

income because

the way podcasters make money is by

relying on brand deals there is no

youtube AdSense for podcasts

and so you need sponsorship or a brand

deal to make any money through your

podcast generally speaking and

you can expect to make around

18

for a 30-second ad in a podcast and 25

per thousand views or a thousand listens

for a 60-second ad so if you want to

make 100 a month and assuming you have a

stream of sponsorships who

are giving you that level of sponsorship

deal based on your download numbers

you would need around a thousand

downloads per episode

if you have a weekly podcast so you

would have 4 000 downloads a month and

if you’re putting a 60-second ad in

there for 25 dollars per thousand views

that would make you around about a

hundred dollars a month by having a

thousand downloads per episode and four

episodes per month this begs the

question

how hard is it to get a thousand

downloads per month well it’s a lot

harder to get

a thousand podcast downloads per month

then it is to get a thousand youtube

views per month because again youtube

has so much distribution built-in

it’s different from podcast also loads

more people are on youtube than on

podcasts but if we look at the stats

then it’s the top 20

of podcasts in the world that get on

average more than a thousand downloads

per episode to use a friend of mine as

an example my housemate

sheen started her podcast around

five months ago there will be a link to

that in the description if you want to

check it out and on average her podcast

gets roundabout

400 to 500 downloads per episode this is

not bad at all especially considering

she started five months ago and had zero

audience when she started so she didn’t

have the unfair advantage that I did

when starting my podcast for example

and because she’s just launched season

two of her podcast and has just started

posting videos about it on youtube

that will help the podcast grow

and I’m pretty sure that in the next six

months she’ll bet she’ll be getting to

a point where she can quite easily make a

hundred dollars a month from her podcast

so going back to our side hustle

assessment matrix starting a podcast one

out of five stars making a hundred

dollars a month I’m gonna give that a

three out of five stars because it’s

hard but not as hard as maybe monetizing

on youtube where you have this minimum

threshold

and finally maintenance well it’s not

passive income because you do

have to keep on making podcast episodes

because the brand deals are associated

with that but again

once you’ve stumbled on a formula that

works once you know how to be a

podcaster

it’s easier to continue going once

you’ve already gotten started as is the

case with most things and so in terms of

maintenance of the podcast I’m going to

give that two stars to use me as an

For example, so I and my brother have

a podcast called not overthinking link in

the video description if you want to

check it out

uh but we make around about 625 per week

from the podcast overall from brand

deals and from our membership all right

so idea number four for generating

passive income is to become an affiliate

marketer

affiliate marketing means that you are

selling other people’s products but

you’re getting a percentage of the sales

from those products now apparently

48 of affiliate marketers globally earn

20 000

a year which is 1 660 a month which is

not bad at all like people are

doing very well with affiliate marketing

overall so how hard is it to get started?

with affiliate marketing well

I’m going to give this a 2 out of 5

stars you can just sign up to

an affiliate program like amazon

associates so amazon have their own

affiliate program which I think is

probably the biggest in the world and

then once you have your little special

links you can post those on your website

or on Twitter or social media or

whatever

and if people buy the product through

your link or buy any

product on Amazon through your link

you’ll get like some tiny percentage of

the sales so pretty easy to get started

with affiliate marketing but how hard is

it to make a hundred dollars a month

well this is kind of hard so

let’s say

you had a product that was fifty dollars

that you were trying to sell and you

were getting five percent commission on

that would be pretty good amazon

doesn’t offer nearly as much as five

percent offers like two or three

percent something like that and let’s

say your average conversion rate i.e

people visiting the thing

versus people buying the

product after visiting thing let’s say

that’s one percent which is pretty

reasonable for a conversion rate

you would need 8 000 visits to your

website or whatever

to make 100 a month it’s quite

hard to get 8 000

visits per month to your website to a

specific product page and generally

doing well in affiliate marketing

requires lots of upfront effort in terms

of either building an audience

or building such domain authority in

whatever space you’re in

that you’re sort of organically getting

traffic now other than amazon there are

a few other affiliate programs that I’m

part of

one of them is skillshare who are kindly

sponsoring this video I’ll tell you

about the sponsor’s segment later but

skillshare has an interesting affiliate program where if you refer someone to sign up for a free trial of skillshare

uh you can get seven dollars in

affiliate commission just for that thing

so if you wanted to make 100

a month from affiliates you would need

15 people every month to sign up for

skillshare with your affiliate link

thing how hard is it to get 15 people a

month to sign up with your affiliate

link well it’s not that hard if you have

an audience and it’s not that hard if

you have your classes on skillshare

like I do I have like nine of them and

so if I want to make money through

skillshare affiliates I can just tell

people hey guys

I can tell you that guys I’ve just

released my latest Skillshare class

productivity for creators how to start a

successful side hustle so there will be

a link in the video description if you

want to check that out

like that would be hopefully so some of

you will see that we’ll click on that

link in the description

and then that will be me getting some

affiliate income from skillshare for

this video so going back to our side

hustle assessment matrix how hard is it

to make 100

a month I’m gonna give this a 3.5

star rating because again you need an

audience and as we always talk about on

this channel the way you build

the audience is by creating useful content

putting it for free

on the internet once a week and doing

this for at least two years if you just

follow those three steps I guarantee

you’ll have an audience and you’ll be

able to make some kind of money through

this passive income stuff

but that’s quite hard to do no one

sticks to it for at least two years so

we’ll give that a 3.5-star rating but

the good news is once you’ve created it

and once you’ve started making money

from affiliates, it’s quite easy

to maintain because especially if you

have evergreen content

the sword that isn’t relying on like

current affairs or the latest news the

the sort that people might search for over

a long time this becomes like

real relatively reasonable passive

income now if we look at me in my

business uh these days from skillshare

we make around about eleven thousand

dollars per month

in affiliate income which approximates

to around two thousand seven hundred and

fifty dollars per week and from amazon

um

on average like it’s around about 450 a

a month from the Amazon UK

store and a little bit more from the us

and Canada all right method number five

of making passive income is by selling

digital products now these are

products that you create once like an

ebook or a download or an app or

something like that

so you create it once and then you can

sell it multiple times because selling

digital products

doesn’t usually have any cost associated

with it, one really good example is this

guy called

staff who I follow on Twitter who made

an ios 14

icon set and sold it for like thirty

dollars a pop a few months ago

and ended up making I think like three

hundred thousand dollars in the course

of like a few weeks

just because loads of people around

the world wanted to buy his icon pack so he

put the work

into creating the pack and now he’s

selling it for lots of money another

an example is my YouTuber friend olio

who has made as he says seven hundred

thousand dollars from selling his

website

Tumblr themes since 2014. so he made the

website themes for Tumblr

uh he sells them and he makes seven

hundred thousand dollars on average uh

well overall

since since 2014. that’s pretty cool so

how hard is it to get started making

digital products um I mean

anyone can write an ebook an ebook

counts as a digital product so I’m gonna

give this a two-star rating two out of

five stars but like again

money is an exchange of value so the

the thing that you’re selling you have to be

providing enough value to compensate

to make up for the price that you’re

selling it for and that’s often quite

hard especially if you don’t have any

experience in this sort of field and how

hard is it to make a hundred dollars a

month well

you know it’s very easy to create an

ebook but it’s a whole different

ballgame trying to get people to

buy

your ebook or buy your icon set or buy

your app or buy your website themes

and because the market around this stuff

is so competitive like

you have to be genuinely good to

get people to buy your stuff and the way

you get people to pay you money for

something is that you identify a problem

that they have

you solve that problem and then you

charge money for it and if you can do

those three things

then it’s you know I wouldn’t say it’s

easy to make a hundred dollars a month

but it’s very doable to make a hundred

dollars a month you just genuinely have

to have something that solves a pain

the point that other people are willing to

pay for

so we’re going to give this a 3 out of 5

stars to make 100 a month from selling

digital products

and finally in terms of maintenance

we’re going to give this a 2 out of 5

stars because usually, you do have to

maintain your products a little bit

but it’s often easier to do like it’s

much easier to maintain a product

then creating a product in the first

place idea number six for passive income

generation is to create an online course

an online course is a sort of like a

digital product but generally online

courses are in video format

this whole video is so long it

could have been an entire

online course maybe I’ll do one about

this very topic and in terms of getting

started we’re gonna give the starting

difficulty a two out of five

stars because it’s not that hard to make an online course but generally you do

need to know how to do video so

yeah you actually could film an online

course on your iPhone or phone whatever

the phone you’re using if you’re one of

those android heathens

stick your phone on the side talk to the

phone teach something so it’s not hard

creating one but in terms of making 100

a month again at that point your course

needs to be good

um and though the only reason people

will pay for it is if the course is

good

now you can avoid having to charge for

your online courses by using a website

like skillshare who is very kindly

sponsoring this video I have tons of

classes in skillshare I think we’ve got

nine on them in total I’ve been teaching

on skillshare since September 2019

and I’ve just released my new online class called productivity for creators

how to start a successful side hustle

where I teach you the internet and how

you can

well create your side hustle in your

spare time without quitting your job if

you want to check this out then the

first 1000 people to click the link in

the video description will get 30

off the annual skillshare premium

membership this is a really

good deal

I pay for skillshare I have been paying

you for it for years even after i

started teaching on it because it’s

genuinely a fantastic place to learn stuff they’ve got thousands of classes

and all sorts of other topics but you

should check out mine like

the nine that I’ve got there are three

around productivity now like the

fundamentals of productivity

the sort of productivity equation which

is how I think of productivity and

productivity for creators

I have two on how you can study for

exams if you’re in school if you’ve got

exams to prepare for those apparently

are good they’ve got very high

ratings and if you’ve already had a free

trial of skillshare then you can still

use that offer that if you’re one of

The first 1 000 people to hit the link In the video description you will get 30 of the premium membership and you can

check out my class which I have to say

is pretty good anyway thank you

skillshare for sponsoring this video but

genuinely skillshare is a great place to

teach stuff because

you can teach things on skillshare

without directly having to charge for

them

which is why I love putting my courses

on skillshare, it’s kind of like having

something on NetFlix in that

the end-user does not have to pay

directly for the product and the other

the nice thing about Skillshare is that it’s

like the

it’s sort of like youtube in that anyone

can upload a class to skillshare

provided it meets certain quality

requirements and so it’s a lot easier than having to make your website and

create your own courses platform and all

that kind of stuff

so pretty easy to start we’re gonna give

this a two out of five but how hard is

it to make a hundred dollars a month

from teaching online courses now this

kind of depends

if you’re going down the skillshare route then to make 100

a month on skillshare you need around about 1700 minutes of watch time which

is 28 hours of watch time so if you have

a one hour class on skillshare you need

28 students

to take that class every month and watch

it with a premium membership roughly

very broadly speaking and that will give

you around about a hundred dollars a

month at least those are based on my

figures over the last like

two years of being on skillshare now how

hard is it to get 28 people a month

watching your class well if your class

is pretty good it shouldn’t be

too hard to get 28 people a month

watching it if you have an existing audience it’s very easy to get 28 people
a month watching it because people

already

know like and trust you hopefully and so

they’ll watch your stuff and give you a

shot

because you’ve already built that

goodwill with them but the nice again

the nice thing about skillshare as a

platform is that

they have their algorithm so

the good stuff rises to the top

so if you genuinely have a really

really good class and you put it on

skillshare then even if you don’t have

an audience there is still a high chance

that if the class is good and

people watch it a lot and people

recommend it and give it high ratings

it will rise to the top and it will

start getting recommended to people

who find it on the skillshare homepage

or who search for it specifically the other way of making 100

a month from a course is to just charge

100 for a course and then if you do that

you just need one sale every month so

how hard is it to get one person a month?

to buy your course well again if it’s

good you know

the world of online education is

exploding so much every year more and

more money is being spent on online

education especially with the whole

pandemic stuff so if you have a valuable skill that you can teach I think courses are one of the best

and easy or easiest one of the best ways of making passive income because it’s

fun to create a course you can teach

stuff

you don’t need that many technical

skills like making a website or anything

like that just shove it on skillshare

and then people can take your course and

learn on the internet and like

you know it’s just cool overall and the

nice thing is that once you’ve made the

course and once you’re making a hundred

dollars a month from it

maintaining that level is quite

easy we’re gonna give that a two out of

five stars

because generally, you don’t need to

update the course that often and you can

do that once in a while and you just

need to make sure you’re getting a

a reasonable amount of traffic to it

and hopefully, that traffic will grow

overtime these days the vast majority

of my online courses at least the very

passive ones are hosted on skillshare

and

it’s kind of ridiculous but these days

they make around about sixty thousand to

sixty-five thousand dollars per month

in purely passive income like i

do nothing for my skillshare

classes, once I’ve made them

other than a reply to comments and other

than occasionally plug them in videos

and that’s like sixty thousand dollars a

month in passive income

that means this is around fifteen

thousand dollars per week and this makes

up the bulk of the twenty-seven thousand

dollars a week that this business

currently generates in purely passive

income idea number seven for passive

income is by creating some kind of

some kind of paid membership or

community model now again this

is generally a bad idea unless you have

an existing audience

which we keep coming back to like

everything becomes easier when you have

an existing audience by creating content

that

has been valuable over a long period of

time very consistently that audience

knows likes and trusts you and so when

you say hey guys sign up to my Patreon

then some people are likely to do that

thing the other way of doing a

membership is by creating a value proposition that is so compelling that people would be willing to pay for a community-like service for

this if we use Patreon as an example my

friend Hannah Witton who’s a YouTuber

she’s got around about 600 000

subscribers on youtube

and I think she has around 600 patrons

626 last time I checked

which means if we look at our Patreon

public stats she’s making

somewhere

between two thousand and five thousand

pounds or like three thousand

seven thousand dollars per month in

passive income from this audience but

it’s like six hundred people out of an audience of six hundred thousand so one in a thousand of her subscribers have

signed up to her Patreon

so clearly you know if those stats are

true across the board

and they kind of are if you look at matt

developers Patreon as well you need a

big audience to make a significant

amount of money from Patreon

again this sort of depends on how much

you’re charging for them and exactly

what value you’re providing another

example of a paid membership community

is my friend and lore who runs a website

called nest labs and they have a paid

membership community

which are five dollars a month and she

started this when was it in summer of

2019 she had zero audiences at the time

and she just wrote a hundred blog posts

over a hundred working days and built up

an audience

such that in march 2020 when she

launched a membership she had some

paying members for it initially and i

think last month she’s just passed a

hundred thousand dollars a year in

annual recurring revenue

which is pretty awesome from something

that started less than two years ago so

how easy is it to start a membership?

program well

it’s very easy we can give this

a one star because it’s very easy to

start one you just make an account on

some kind of membership platform like

Patreon

but to make 100 a month you need to

provide 100 a month

worth of value and that’s quite

hard to do we’re gonna give that a four

out of five stars but the nice thing is

again once you’ve got that formula once

you’re making 100

a month it’s a lot easier to

maintain it because the way the

economics of membership communities

work is provided you keep showing up and

providing value in some capacity

you know people have already signed up

for the thing so it’s not too hard to

maintain that level of support that

you’re offering them for this business

we have a membership community for our

part-time YouTuber academy for the

alumni which are called the part-time

YouTuber inner circle

and we make roughly 2 800 a week from

this membership community

it’s not very passive we run like three

or four events per week along with like

twice a day co-working events on zoom

and we have lots of stuff going on so it

takes a lot of work but 2800

a week is pretty good for a membership

community all right nearly there so the idea

number eight for generating passive

income is creating a business

that sells goods or services and then

automating or delegating aspects of that

business so that the income that you

generate from it is

reasonably passive this is the stuff

that Tim Ferriss talks a lot about in

the four

hour work week where there are a lot of

businesses that you could make where

you’re selling a good or selling a

service and then

you can delegate outsource automate and

intelligent ways to make the income

passive so again using my friend Ollier

as an example on his youtube channel he

talks about his one million dollar

Shopify store

he designs manufactures and sells these

cool vegan leather

kind of desk accessories and bags and

mousepads and that kind of stuff and

this was loads of work in setting up but

now he’s got a team of three other

people that manage the business

and so he spends proportionately less of

his time running that business and so

it’s sort of passive income for him

even though these days he still does

spend around 10 hours a week maintaining

things equally if you’re going down the

service route

I’ve got a friend who runs Instagram and

Facebook ads marketing agency where he has clients who pay him

some I think a few hundred dollars per month to manage their Facebook and Instagram ads and for him, it’s like a small amount of work initially to set up
the Facebook and Instagram ads

but then it’s sort of automated and he’s

got a team around it and he’s used using

things like zapier to automate aspects

of that business

so that each month he has to do a very small amount of actual work to keep it ticking along so these are different

ways of generating passive income from

a kind of goods or service-based

business but it’s quite hard to get

started with this stuff to get started

we’re going to give this a 4 out of 5

star rating because again you need to

create a business and it’s

quite hard to make a business that

genuinely provides value equally we’re

going to give it a 4 out of 5 star

rating for making 100

a month in revenue because again you

have to be able to

provide value and providing value is

hard like it’s not as easy as making an

account on a stocks platform just

putting some money in

you have to give value to

people which is kind of hard but

the nice thing is once you get started like

with anything, maintenance is a little bit easier so we’re gonna give that a three out of five-star rating finally

idea number nine for generating passive

income is to build an app

or a website or some kind of software product that you can offer

either as a one-off or more likely these days as a subscription service and

there’s a whole category of this called

SAS software as a service now if you

look at the website indiehackers.com

there are hundreds of

examples of people who have built

software businesses that are making

passive income and they share their

revenue numbers and they tell you how

they got started and they give you their

tips

I was recently interviewed on an episode of the indie hackers podcast which is cool because I’ve been

listening to it for years and

like been following the website for

years and I was interviewed around the

concept of

starting an online course like the

part-time YouTuber academy now I’ve had

a bit of personal experience with this

so um when I was at university I made

a website called bmat ninja and UK cat

ninja so software as a service was a

question bank for

medical applicants applying to medical

school to help them do well in the

admissions tests

and this was something that and my

brother coded completely from scratch

um he and I both know how to code we

learned when we were young and so we

worked

over the summer of 2015 to make these

things happen I think in year one we

made about ten thousand dollars and in

year five last year it was around twenty

five thousand dollars from bmat ninja so

you know

it’s pretty good money but it was a lot

of work to set these things up and so in

terms of starting i’m gonna give

this a five out of five-star rating

because to make an app

it’s quite hard you have to

know how to code for the most part you

have to be able to offer something

compelling and you have to actually

build it

which takes a lot of work and it’s very

hard but it’s a lot of fun and then once

you’ve made it I’m gonna give it 100

a month difficulty a four-star rating

because again it’s easy well easy enough

you can make an app but then getting

people to pay for the app is an entirely

different cuddle of fish so we’re going

to give that four stars but the nice

thing is like with everything

maintenance is a little bit easier so

we’re going to give that a three-star

rating if you like this video and you

want to get started with your own

entrepreneurship

passive income generating journey on

the internet uh check out this short

playlist over here which is some of my

favorite videos that I’ve made around

tips for entrepreneurs how I got started

creating my businesses from scratch

how I learned to code that sort of stuff

 

 

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