9 Passive Income Ideas - How I Make $27k per Week
hey friends welcome back to the channel in this video we're going to talk about 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 obviously, this has taken me like eight.

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 really 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 it's money that is not directly tied to our time so let's say you were to write.

a book that book is now in bookshelves you've done the work kind of once to write and publish the book but now anytime the book sells you make money from royalties that is passive income you could literally 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.

people in the comments pretending to be 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.

in a way that is not directly tied to your time so please please please do not try and join a get-rich-quick scheme they don't exist I've had lots of messages over the years from people who have tried signing up to get-rich-quick crypto schemes or gambling schemes 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.

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 are sponsoring this video i'll tell you more about skillshare later on but I want to plug my own class because i think its genuinely really good and people really like it and it will help you get tips on how you can start side hustles in your spare time anyway let's get into the.

with 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 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 ifyou have any sorts of savings and.

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earning 0.01 interest they're not reallydoing very much for you whereas if youhad those savings and put them in stocksyou could potentially be earning passiveincome from the money that's otherwisejust sitting there now i've got a wholevideo called the ultimate guide toinvesting in stocks and shares forbeginners which is going to be linkedover there somewhere so that is a solidhalf an hour long introduction to stocksand exactly how they work but the thingthat i recommend for most beginners as a.

financial advice purely forentertainment purposes only also peoplesayor at least the thing that i do is thatbasically all my money that's in stocksand shares is invested in index fundsnow an index fund is something like thes p 500 and when you invest let's say athousand dollars in the s p 500 thatbasically means that your thousanddollars is distributed amongst the top500 biggest companies in the us soyou know weighted by how big they are so.

in apple two percent in facebook twopercent in google two percent inmicrosoft and then you probably won'thave heard of the 500th company on thelist but basically all the big uscompanies you've heard of you end upinvesting in all of them a little bit ata time so if you want to get startedwith that all you need to do is sign upto a stock broker if you're in the usyou can use weeble i think i've got alink in the description if you're in theuk you can use free trade or vanguard.

just google the phrase best stock brokerplatformyour country name and you'll findsomething that works for you and thenit's very easy to be able to invest inan index fund so within our famous sidehustle assessment matrix um we're goingto give the difficulty of starting a onestar rating one out of five it's veryvery easy to get started with stocks howhard is it to make a hundred dollars amonth by investing in stocks and shareswell this kind of depends because it.

market overall so in the last 12 monthsfrom 2020 to 2021 the s p 500 hasactually increased by about 50 percentthat is that is a lot it's like gone upby a solid 50 despite covet andeverything going on so if in april 2020you had invested 2 400 in the s p 500the fact that it's gone up by 50 meansyou would have made 100 a month butobviously this is not the way to look atit because you know things can go up anddown and the stock market has differentlevel levels of performance depending on.

if we average out the last 30 to 50years the s p 500 has had a roughly 10point something percent return whichmeans every year on average over thelong term it goes up by around 10this is not inflation adjusted for anyeconomist among us and so if we do someback of the envelope calculations if wewant to earn a hundred dollars a monthpassively through stocks and shares wewould need around about 12 000invested in the s p 500 to make that tenpercent twelve hundred dollars a year.

as i talk about in that video aboutstocks over time we have compounding andso if you put in seven thousand fivehundred dollars in the s p 500 and youleft it there for five years then fiveyears later you would be making roughly100 a month if we go by this veryaverage figure of 10 a year or if youinvested 5 000 in the s p 500 then 10years later you'd be making 100 a monthin purely passive income again assumingthe 10 average so overall how hard is itreally to make 100 a month in passive.

kind of just depends on how hard is itfor you to make five thousand seventhousand five hundred or twelve thousanddollars in savings and put them into astock market index fund uh and cruciallythis is money that you shouldn't need totouch in the next five to ten years atleast so basically how easy is it foryou to them to make that sort of moneyobviously varies massively depending onwhich country you're in uh and what yourcircumstances are and what your job isbut if you're in the uk or the us where.

around about fifty thousand dollarssomething like that then again dependingon your circumstances it's not that hardto get ten thousand dollars in savingsobviously if you're supporting a familyof fifteen people on fifty thousanddollars it's different if you're asingle person again it's different buti'm gonna give this roughly a three outof five star rating for difficulty ofgetting a hundred dollars a monthobviously if you live in a country likeindia where the average salary is three.

very very difficult to make ten thousanddollars in savings overall and finallythe third category in our side hustleassessment matrix is how hard is it tomaintain this income once you've set itup in the first place and we're gonnagive this a one star out of five becauseonce you've got the money in you justlike set it and forget it and it's notthat hard to maintain there are othersources of passive income that requirehigher degrees of maintenance over timebut stocks and shares is a very very.

use my personal example these days mystocks and shares portfolio which i'vebeen investing in since 2015 is nowworth around about 350 000 and the vastmajority of that is in the s p 500 indexfund now i can't be bothered to work outthe actual inflation adjusted returnsfor that but again if we assume a veryvery rough average of 10 a year thenthat averages out to around 682 dollarsper week in purely passive income allright idea number two for generatingpassive income is to start a youtube.

specialize in because i'm here onyoutube and i actually teach a coursecalled the part-time youtuber academy uhlinked in the video description where iteach people how to do this sort ofthing so let's use our side hustleassessment matrix and we'll talk aboutthis how hard is it to start a youtubechannel well i'm gonna give this one outof five stars because it's actually veryvery easy to start a youtube channel youjust go on youtube.com you click createa channel and you can upload videos by.

uploading it in reality it's a lotharder to make good videos and makinggood videos is how you grow on youtubebut getting started on youtube is veryvery very straightforward the realquestion is how hard is it to actuallymake real money from youtube so againlet's say we want to make a hundreddollars a month in passive income whatdoes that look like well firstly to beeligible for monetization on youtube youneed a thousand subscribers and fourthousand hours of watch time it took me.

1 000 subscribers and if we look at theaverages it actually takes on average 90something videos to get to a thousandsubscribers so that's quite hard ifyou're thinking you're gonna start ayoutube channel and start making moneyfrom day one you're you know that'sbasically not gonna happen it took me 52videos six months to get there um so ifpeople message me like hey i want tostart youtube i was like look you haveto be able to put in the effort and dothis for a very long period of time uh.

two years before you can expect anythingin return but let's say you've hit yourthousand subscribers in your 4 000 hoursof watch time how hard is it to actuallymake 100 a month well on average thekind of revenue per thousand views onyoutube is around about two dollars sothis varies massively but let's say onaverage about two dollars per thousandviews therefore if you want to make 100a month you need 50 000 views on youtubeto make 100 a month let's say you makeone video per week and let's assume.

older videos that means every video youmake needs to get around about 12 500views and very roughly the averageyoutube channel can expect around about20 percent of their subscribers to equalthe average view count for each video soon youtube if you had 62 000 subscribersvery roughly very averagely you canexpect 20 of them i.e 12 500 views oneach video and assuming you have noevergreen content of the long term youwould need around about 60 000subscribers to be making 100 a month in.

before 60 000 subscribers i think i wasmaking 100 a month when i had like 10000 something subscribers like it was itwas fairly early on but when it comes toassessing how hard is this to do i'mgoing to give this a 4 out of 5 starsit's actually very hard to makecompelling youtube videos and it's veryeasy to get started but it's hard to dowell it's totally worth it it's a greatskill set it's really fun you get tomeet people across the internet you getto learn how to talk to a camera and how.

great but it's very hard to actuallymake money from youtube finally in termsof effort to maintain like actuallygetting that first 1 000 subscribers isa lot harder than keeping it growingbecause once you've got a thousandsubscribers and once your channel isgrowing it means you've landed on aformula that works and so maintaining itthen becomes easier than starting fromscratch and so in our side hustleassessment matrix we're going to givemaintenance of a youtube channel passive.

of 5 stars to use my example i made 70videos before i started making any moneyfrom youtube adsense and these days theyoutube channel makes around about 12000 a month in passive income fromyoutube ad sets now again this is notentirely passive because i keep onuploading new videos but actually thebulk of the amount of money that wegenerate from ads is from older videosrather than videos that were uploadedthis month so with that caveat twelvethousand dollars a month passive income. Click To Start Make Money Online

week thanks to this youtube channel andthanks to you guys for supporting it andall that stuff there are other ways ofmonetizing youtube like brand deals andlike selling merch and there's all othersort of stuff but it doesn't reallycount as passive income through youtubewhich is why i'm not including this inthis side hustle assessment matrix ideanumber three for making passive incomeis to start a podcast this is generallyeasier than starting a youtube channelalthough growing a podcast is a lot.

because because podcasts themselvesdon't really have a algorithm that'shelping them grow in fact a lot ofpodcasts grow by having a youtubechannel which is kind of weird right sohow hard is it to start a podcast wellagain one out of five stars it's veryvery easy to start a podcast go onanchor fm and you can literally use yourphone and you can pass your phone aroundbetween you and your friends and you canstart a podcast you can use a websitecalled riverside.fm that i've recently.

riverside makes it very easy to recordremote podcast interviews it's very veryeasy to start a podcast but how hard isit to make 100 a month in passive incomefrom a podcast well again this is notquite passive income because the waypodcasters make money is by relying onbrand deals there is no youtube adsensefor podcasts and so you need asponsorship or a brand deal to make anymoney through your podcast generallyspeaking and apparently you can expectto make around 18 for a 30-second ad in.

thousand listens for a 60-second ad soif you want to make 100 a month andassuming you have a stream ofsponsorships who are giving you thatlevel of sponsorship deal based on yourdownload numbers you would need around athousand downloads per episode if youhave a weekly podcast so you would have4 000 downloads a month and if you'reputting a 60 second ad in there for 25dollars per thousand views that wouldmake you around about a hundred dollarsa month by having a thousand downloads.

this begs the question how hard is it toget a thousand downloads per month wellit's a lot harder to get a thousandpodcast downloads per month than it isto get a thousand youtube views permonth because again youtube has so muchdistribution built init's different to podcast also loadsmore people are on youtube than onpodcasts but if we look at the statsthen it's the top 20 of podcasts in theworld that get on average more than athousand downloads per episode to use a.

housemate sheen started her own podcastaround five months ago there will be alink to that in the description if youwant to check it out and on average herpodcast gets round about 400 to 500downloads per episode this is not bad atall especially considering she startedfive months ago and had zero audiencewhen she started so she didn't have theunfair advantage that i did whenstarting my own podcast for example andbecause she's just launched season twoof her podcast and has just started. Click To Start Make Money Online

will really help the podcast grow andi'm pretty sure that in the next sixmonths she'll be she'll be getting to apoint where she can quite easily make ahundred dollars a month from her podcastso going back to our side hustleassessment matrix starting a podcast oneout of five stars making a hundreddollars a month i'm gonna give that athree out of five stars because it'shard but not as hard as maybe monetizingon youtube where you have this minimumthreshold and finally maintenance well.

you do have to keep on making podcastepisodes because the brand deals areassociated with that but again onceyou've stumbled on a formula that worksonce you know how to be a podcaster it'seasier to continue going once you'vealready gotten started as is the casewith most things and so in terms ofmaintenance of the podcast i'm going togive that two stars to use me as anexample so me and my brother have apodcast called not overthinking link inthe video description if you want to.

625 per week from the podcast overallfrom brand deals and from our membershipall right so idea number four forgenerating passive income is to becomean affiliate marketer affiliatemarketing means that you are sellingother people's products but you'regetting a percentage of the sales fromthose products now apparently 48 ofaffiliate marketers globally earn 20 000a year which is 1 660 a month which isactually not bad at all like people aredoing very well with affiliate marketing.

with affiliate marketing well i'm goingto give this a 2 out of 5 starsbasically you can just sign up to anaffiliate program like amazon associatesso amazon have their own affiliateprogram which i think is probably thebiggest in the world and then once youhave your little special links you canpost those on your website or on twitteror on social media or whatever and ifpeople buy the product through your linkor in fact buy any product on amazonthrough your link you'll get like some.

easy to get started with affiliatemarketing but how hard is it to make ahundred dollars a month well this isactually kind of hard so let's say youhad a product that was fifty dollarsthat you were trying to sell and youwere getting five percent commission onit that would be pretty good amazondoesn't offer nearly as much as fivepercent it offers like two or threepercent something like that and let'ssay your average conversion rate i.epeople visiting the thing versus people.

visiting thing let's say that's onepercent which is pretty reasonable for aconversion rate you would need 8 000visits to your website or whatever tomake 100 a month it's actually quitehard to get 8 000 visits per month toyour website to a specific product pageand generally doing well in affiliatemarketing requires lots of upfronteffort in terms of either building anaudience or building such domainauthority in whatever space you're inthat you're sort of organically getting.

a few other affiliate programs that i'mpart of one of them is skillshare whoare kindly sponsoring this video i'lltell you about the sponsors segmentlater but skillshare have an interestingaffiliate program where if you refersomeone to sign up to a free trial ofskillshare uh you can get seven dollarsin affiliate commission just for thatthing so if you wanted to make 100 amonth from affiliates you would need 15people every month to sign up forskillshare with your affiliate link.

month to sign up with your affiliatelink well it's not that hard if you havean audience and it's not that hard ifyou have your own classes on skillsharelike i do i have like nine of them andso if i want to make money throughskillshare affiliates i can just tellpeople hey guys i can tell you that guysi've just released my latest skillshareclass productivity for creators how tostart a successful side hustle so therewill be a link in the video descriptionif you want to check that out like that.

see that we'll click on that link in thedescription and then that will be megetting some affiliate income fromskillshare for this video so going backto our side hustle assessment matrix howhard is it to make 100 a month i'm gonnagive this a 3.5 star rating becauseagain you need an audience and as wealways talk about on this channel theway you build an audience is by creatinguseful content putting it for free onthe internet once a week and doing thisfor at least two years if you just.

you'll have an audience and you'll beable to make some kind of money throughthis passive income stuff but that'squite hard to do no one sticks to it forat least two years so we'll give that a3.5 star rating but the good news isonce you've created it and once you'vestarted making money from affiliatesit's actually quite easy to maintainbecause especially if you have evergreencontent the sword that isn't relying onlike current affairs or the latest newsthe sort that people might search for.

like real relatively reasonable passiveincome now if we look at me in mybusiness uh these days from skillsharewe make around about eleven thousanddollars per month in affiliate incomewhich approximates to around twothousand seven hundred and fifty dollarsper week and from amazon um on averagelike it's around about 450 a month fromthe amazon uk store and a little bitmore from the us and canada all rightmethod number five of making passiveincome is by selling digital products.

once like an ebook or a download or anapp or something like that so you createit once and then you can sell itmultiple times because selling digitalproducts doesn't usually have any costassociated with it one really goodexample is this guy called traff who ifollow on twitter who made an ios 14icon set and sold it for like thirtydollars a pop a few months ago and endedup making i think like three hundredthousand dollars in the course of like afew weeks just because loads of people.

pack so he put the work into creatingthe pack and now he's selling it forlots of money another example is myyoutuber friend olio who has made as hesays seven hundred thousand dollars fromselling his website tumblr themes since2014. so he made the website themes fortumblr uh he sells them and he makesseven hundred thousand dollars onaverage uh well overall since since2014. that's pretty cool so how hard isit to get started making digitalproducts um i mean.

counts as a digital product so i'm gonnagive this a two star rating two out offive stars but obviously like againmoney is an exchange of value so thething that you're selling you have to beproviding enough value to compensate tomake up for the price that you'reselling it for and that's often quitehard especially if you don't have anyexperience in this sort of field and howhard is it to make a hundred dollars amonth well you know it's very easy tocreate an ebook but it's a whole.

to actually buy your ebook or buy youricon set or buy your app or buy yourwebsite themes and because the marketaround this stuff is so competitive likeyou have to be genuinely really good toget people to buy your stuff and the wayyou get people to pay you money forsomething is that you identify a problemthat they have you solve that problemand then you charge money for it and ifyou can do those three things thenit'syou know i wouldn't say it's easy to. Click To Start Make Money Online

very doable to make a hundred dollars amonth you just genuinely have to havesomething that solves a pain point thatother people are willing to pay for sowe're going to give this a 3 out of 5stars to make 100 a month from sellingdigital products and finally in terms ofmaintenance we're going to give this a 2out of 5 stars because usually you dohave to maintain your products a littlebit but it's often easier to do likeit's much easier to maintain a productthan creating a product in the first.

generation is to create an online course an online course is sort of like a digital product but generally onlinecourses are in video format in fact this whole video is so long it could basically has been an entire onlinecourse maybe i'll do one about this very topic and in terms of getting started we're gonna give the starting difficulty two out of five stars because it's not that hard to make an on an online course but generally you do need to know how todo video so yeah.

on your iPhone or phone whatever 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 actually be good um and though the only reason people will pay for it is if the course is actually good now you can avoid having to charge for your online courses by using a website like skillshare who are very kindly sponsoring this video i.

think we've got nine on them in total I've been teaching on skillshare since September 2019 and i've actually 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 own side hustle in your spare time without quitting your job if you want to check this out then the first 1000people to click the link in the video description will get 30 off the annual skillshare premium membership this is.

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 definitely 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.

the charge for them which is why i love putting my courses on skillshare its kind of like having something on Netflix in that the end-user does not have to pay directly for the product and the other nice thing about Skillshare is that it's like it's sort of like you tube in that anyone can upload class to skillshare provided it meets certain quality requirements and so it's a lot easier than having to make your own website and create your own course platform and all that kind of stuff so.

this a two out of five but how hard isit 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 1700minutes 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.

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 actually 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 easyto get 28 people a month watching it because people already know like andtrust you hopefully and so they'll watch your stuff and give you a shot becauseyou've already built that goodwill with.

about skillshare as a platform is that they have like their own algorithm sothe good stuff rises to the top so ifyou genuinely have a really reallyreally good class and you put it onskillshare then even if you don't havean audience there is still a high chancethat if the class is actually good andpeople watch it a lot and peoplerecommend it and give it high ratings itwill rise to the top and it will startgetting recommended to people who findit on the skillshare homepage or who.

of making 100 a month from a course isto just charge 100 for a course and thenif you do that you just need one saleevery month so how hard is it to get oneperson a month to buy your course wellagain if it's good you know the world ofonline education is exploding so muchevery year more and more money is beingspent on online education especiallywith the whole pandemic stuff so if youhave a valuable skill that you can teachi think courses are one of the best andeasy or easiest.

income because it's fun to create acourse you can teach stuff you don'tneed that many technical skills likemaking a website or anything like thatjust shove it on skillshare and thenpeople can take your course and learn onthe internet and like you know it's justcool overall and the nice thing is thatonce you've made the course and onceyou're making a hundred dollars a monthfrom it maintaining that level isactually quite easy we're gonna givethat a two out of five stars because.

course that often and you can do thatonce in a while and you just need tomake sure you're getting a reasonableamount of traffic to it and hopefullythat traffic will grow over time thesedays the vast majority of my onlinecourses at least the very passive onesare hosted on skillshare and it's kindof ridiculous but these days they makeround about sixty thousand to sixty fivethousand dollars per month in purelypassive income like i literally donothing for my skillshare classes once.

comments and other than occasionallyplug them in videos and that's likesixty thousand dollars a month inpassive income that means this is aroundabout fifteen thousand dollars per weekand this makes up the bulk of the twentyseven thousand dollars a week that thisbusiness currently generates in purelypassive income idea number seven forpassive income is by creating some kindof some kind of paid membership orcommunity model now again this isgenerally a bad idea unless you have an.

back to like everything becomes easierwhen you have an existing audience bycreating content that has been valuableover a long period of time veryconsistently that audience knows likesand trusts you and so when you say heyguys sign up to my patreon then somepeople are likely to do that thing theother way of doing a membership is bycreating a value proposition that is socompelling that people would be willingto pay for a community-like service forthis if we use patreon as an example my.

she's got around about 600 000subscribers on youtube and i think shehas around 600 patrons 626 last time ichecked which means if we look at ourpatreon stats which are public she'smaking somewhere between two thousandand five thousand pounds or like threethousand seven thousand dollars permonth in passive income from thisaudience but it's like six hundredpeople out of an audience of six hundredthousand so one in a thousand of hersubscribers have signed up to her.

stats are true across the board and theykind of are if you look at mattdevelopers patreon as well you need abig audience to make a significantamount of money from patreonagain this sort of depends on how muchyou're charging for them and exactlywhat value you're providing anotherexample of a paid membership communityis my friend and lore who runs a websitecalled nest labs and they have a paidmembership community which is fivedollars a month and she started this.

zero audience at the time and she justwrote a hundred blog posts over ahundred working days and built up anaudience such that in march 2020 whenshe launched a membership she had somepaying members for it initially and ithink last month she's just passed ahundred thousand dollars a year inannual recurring revenue which is prettyawesome from something that started lessthan two years ago so how easy is it tostart a membership program well it'sactually very easy.

very easy to start one you just make anaccount on some kind of membershipplatform like patreon but to make 100 amonth you need to provide 100 a monthworth of value and that's actually quitehard to do we're gonna give that a fourout of five stars but the nice thing isagain once you've got that formula onceyou're making 100 a month it's actuallya lot easier to maintain it because theway the economics of membershipcommunities work is provided you keepshowing up and providing value in some.

you know people have already signed upfor the thing so it's not too hard tomaintain that level of support thatyou're offering them for this businesswe have a membership community for ourpart-time youtuber academy for thealumni which is called the part-timeyoutuber inner circle and we makeroughly 2 800 a week from thismembership community it's not verypassive we run like three or four eventsper week along with like twice a dayco-working events on zoom and we have.

of work but 2800 a week is pretty goodfor a membership community all rightnearly there so idea number eight forgenerating passive income is creating abusiness that sells goods or servicesand then automating or delegatingaspects of that business so that theincome that you generate from it isreasonably passive this is the stuffthat tim ferriss talks a lot about inthe four hour work week where there area lot of businesses that you could makewhere you're selling a good or selling a.

outsource automate and intelligent waysto make the income passive so againusing my friend ollier as an example onhis youtube channel he talks about hisone million dollar shopify store hedesigns manufactures and sells thesereally cool vegan leather kind of deskaccessories and bags and mouse pads andthat kind of stuff and this was loads ofwork in setting up but now he's got ateam of three other people that managethe business and so he spendsproportionately less of his time running.

passive income for him even though thesedays he still does spend around 10 hoursa week maintaining things equally ifyou're going down the service route i'vegot a friend who runs instagram andfacebook ads marketing agency where hehas clients who pay him some i think afew hundred dollars per month to managetheir facebook and instagram ads and forhim it's like a small amount of workinitially to set up the facebook andinstagram ads but then it's sort ofautomated and he's got a team around it.

to automate aspects of that business sothat each month he has to do a verysmall amount of actual work to keep itticking along so these are differentways of generating passive income from akind of goods or service based businessbut it's quite hard to get started withthis stuff to get started we're going togive this a 4 out of 5 star ratingbecause again you need to create abusiness and it's quite hard to make abusiness that genuinely provides valueequally we're going to give it a 4 out.

in revenue because again you have to beable to provide value and providingvalue is hard like it's not as easy asmaking an account on a stocks platformjust putting some money in you actuallyhave to give value to people which iskind of hard but the nice thing is onceyou get started like with anythingmaintenance is a little bit easier sowe're gonna give that a three out offive star rating finally idea numbernine for generating passive income is tobuild an app or a website or some kind.

either as a one-off or more likely thesedays as a subscription service andthere's a whole category of this calledsas software as a service now if youlook at the website indiehackers.comthere are like literally hundreds ofexamples of people who have builtsoftware businesses that are makingpassive income and they share theirrevenue numbers and they tell you howthey got started and they give you theirtips in fact i was recently interviewedon an episode of the indie hackers.

i've been listening to it for years andlike been following the website foryears and i was interviewed around theconcept of starting an online courselike the part-time youtuber academy nowi've had a bit of personal experiencewith this so um when i was at universityi made a website called bmat ninja anduk cat ninja so software as a service itwas a question bank for medicalapplicants applying to medical school tohelp them do well in the admissionstests and this was something that me and.

um he and i both know how to code welearned when we were young and so weworked over the summer of 2015 to makethese things happen i think in year onewe made about ten thousand dollars andin year five last year it was aroundtwenty five thousand dollars from bmatninja so you know it's pretty good moneybut it was a lot of work to set thesethings up and so in terms of startingout i'm gonna give this a five out offive star rating because to make an appit's actually quite hard you have to.

have to be able to offer somethingcompelling and you have to actuallybuild it which takes a lot of work andit's very hard but it's a lot of fun andthen once you've made it i'm gonna give100 a month difficulty a four-starrating because again it's easy well easyenoughyou can make an app but then gettingpeople to pay for the app is an entirelydifferent cuddle of fish so we're goingto give that four stars but the nicething is like with everything.


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