CREATING SITES AND/OR ASSETS AIMING TO CREATE RESIDUAL (ONGOING) INCOME STREAMS, GETTING PAID AGAIN AND AGAIN AFTER ALL THE INITIAL WORK IS DONE
The following 15 ways to make money online in this section are for those people prepared to build websites or assets of value whilst not being paid for all the upfront time needed to produce them, but can earn a good monthly residual income over time. With these types of income, you can usually do something once then earn money from it again and again and again for years.
Residual (semi-passive) income can offer tremendous life freedoms such as freedom to live anywhere, freedom to buy some of the finer things in life, freedom to work as much or as little as you like and freedom to spend more time with your family and friends.
Residual income can be hard to achieve though and it will usually take a lot of upfront time (for no money), some financial outlay (to build and promote assets) and quite often will result in one or two failures along the way as you learn more about what works and what doesn’t.
The secret to achieving residual (semi-passive) income is focus, massive upfront work commitment and persistence. It’s advisable that you choose to do something that you are interested in or ideally have a passion for. That passion will not only show in the assets that you produce (such as websites, digital products, courses etc.) but it will also make the journey more enjoyable for you and will help keep you committed to the goal in the early months when you’re working your arse off trying to get things up and running.
Number 1: AFFILIATE MARKETING – DETACHED SELLING
Creating small websites or social media channels promoting other people’s products that you either don’t use or have little interest in (Affiliate Marketing).
Affiliate marketing is the term used for selling or promoting other people’s products online. In the offline world, it is commonly known as re-selling.
Making money through affiliate marketing entails a lot of work, especially in the beginning. If you are a beginner, you can start with finding other people’s products that you want to promote. You do can do this by either searching for ‘affiliate program’ or ‘partner program’ on search engines like Google, or search for a company’s affiliate program such as ‘Virgin affiliate program’. You can also use websites such as cj.com, clickbank.com and affiliateprograms.com to more easily find a range of companies and products with affiliate programs. In those websites, you will see a large list of products and retailers from which you can choose. Although it’s best to try to pick something that interests you, many affiliate marketers just choose anything they feel they can make money from promoting. This is called detached selling. As you will need to promote the products via websites and social media channels you create, if you have a passion for what you are promoting then it will make this work much easier and more enjoyable for you as we look at in the next example.
Once you have chosen a product or products you want to promote that pays a decent % commission on any sales you can make from sending customers to the retailers’ website, you then need to start promoting them. This stage requires a lot of upfront time and work either building websites or social media pages such as on Facebook, writing content (or outsourcing the writing work to others and paying them for it) and paying to boost posts or push ads to try to build up a steady stream of visitors to your website or social page.
Number 2: AFFILIATE MARKETING – PERSONAL INTEREST
Creating and managing a blog website on a niche topic that you have a personal interest in and are passionate about, with affiliate links to recommended products (Affiliate Marketing).
Blogs can be about anything. They can be about your company, yourself or your favourite product. Creating and writing a blog is about writing engaging content that will entice people to want to read and keep on reading any new content you write about. In a blog, you get to express your thoughts about anything you’d like to share. And for affiliate marketers it’s a great way to make money by writing about a topic (niche) they are interested in, knowledgeable in or passionate about.
You can blog about products that you use without sounding like a sales person. Beauty bloggers can just show a photo of the beauty products that they use, write about why they use them, the products’ benefits and comparisons to other products, then provide a link to buy it online from another website to which they are an affiliate for. And when they do, they drive traffic, make them money and they get paid a sales commission from the retailer in return for the referral.
Creating and writing a blog for affiliate marketing is easy when you know the right steps to it. It’s convenient and less “promo-sounding” which more likely attracts people than otherwise. However, there is a need to build a fairly large following in order to start making money. This can take time but when you achieve it, it’ll pay off big time.
Number 3: CREATING T-SHIRT DESIGNS ON TEESPRING
Teespring.com is a platform that makes it easy for anyone to create and sell high-quality products people love, with no cost or risk.
You can create your own t-shirt, hoodie, sweatshirt and sticker designs using the tools provided which include a range of fonts, art library and colours, or you can upload your own artwork. Once designed you can set a campaign length for the products to give an exclusive feel and then promote the products via Facebook ad campaigns or any other method.
Teespring do all the printing and delivery after your campaign is complete so you have no upfront costs other than your marketing. Gross profits per sale are dependent on selling price but can typically range from 40-60%.
Step 1: Create
Step 2: Set a Goal
Step 3: Add a Description (and campaign length)
Number 4: CREATING PRODUCTS ON GEAR BUBBLE
Create designs for products to sell without any financial outlay.
How would you like making money from something with zero upfront costs? Gearbubble.com offers you this kind of opportunity. You make money without spending money. Gear Bubble is a website that makes your online selling very easy. They have a wide variety of products that you can choose from and in just a matter of minutes, you can have products up for sale.
Gear Bubble is a great place to start with making money online. It’s like starting from scratch but with everything prepared for you. You can create and start selling your merchandise without the need to spend a whole lot of money to create and produce your products. They take care of the production while your only obligation is to produce your own designs, choose the items that you want to sell and start selling. These could include things like jewellery, mugs, or tshirts.
Producing your products through gear bubble is a good way to start making money online, but unlike other money-making strategies online, the process and delivery of your items will take time. It takes 2-3 weeks to process your items and have them shipped. And if it’s international shipping it may take even longer. However, at Gear Bubble you don’t have to suffer the consequences of items that get broken or damaged in transit. They take care of the replacement for you without any extra obligations on your part.
Number 5: WEBSITE ADS
Earning money from small ads on your website / blog.
If you have a blog or website that’s already getting decent visitor numbers, why not try online advertising? It’s a great way to leverage your audience and monetize your site. There are lots of free resources on the internet that are entirely funded through advertising, make no mistake it can be big business! So, how can you get a piece of the action?
Well, the truth of the matter is that you need to have a substantial number of visitors that visit your site each day to make any real money. There are two main ways to manage advertisers on your website. Firstly, you can manage it all yourself. You can set up your charges and try to attract advertisers, and for some businesses this proves to be the most lucrative method. This method is often called ‘direct banner advertising’ which is effectively selling your own advertising space enabling you to determine your own rates.
However, an easier method is to use Google AdSense. Google tracks you on almost every website that you visit so they know what you like and click on, so they can target ads to you when you are visiting other websites that show ads. The downsides of Google AdSense are that you don’t choose the adverts that appear on your website, Google does. And it displays different ads to different people, so it’s very difficult to see what adverts are being displayed on your website.
Simply sign up for a Google AdSense account, choose what size/format you want your advert to be, whether you want it display text and/or image and copy and paste your snippet of code into the space on your website that you want adverts to appear!
Number 6: CREATING ONLINE COURSES
Creating online courses for Udemy.com, Teachable.com or similar.
Many people may have a skill or subject of expertise they could teach, but not everyone is given the opportunity to do so. Thankfully, there are places such as Udemy where you can monetize your expertise through creating online courses. Udemy is an online platform for experts and instructors who can either teach or for anyone who wants to learn a certain subject.
They have a free-to-use course design tool enabling you to focus on what matters most: the content. What’s more, with Udemy’s 11 million students, you can easily reach millions of students worldwide in the largest online learning marketplace.
Creating online courses for Udemy is easy when you know what you are teaching. You can start making money as soon as you’re ready to create a course for your students. Creating courses at Udemy allows you to make 1-3 hours of content both in text and video format.
There are 3 main ways of getting paid by Udemy:
‘’Instructor Promotion’’, is when you get 97% of the revenue when YOU promote and bring new students to your course on their website. This has a 3% admin fee. Udemy takes care of all the customer service, payment processing, hosting fees and everything else.
‘’Udemy Organic’’, is when you get a 50% revenue share on organic Udemy sales where no Instructor Coupon is used.
‘’Paid User Acquisition Channel Sales’’, in most cases, is when you get 25% instructor revenue share. In order to optimize your sales, Udemy partners with affiliates across their global networks or pay for advertising for your course.
To put it bluntly, there is SERIOUS money to be made using this site. Not only is it a simple and easy way to provide an extra income, but it can help to build your own personal brand whilst making a real difference in the lives of students around the world.
Number 7: CREATING DIGITAL PRODUCTS
Creating digital products to sell via ClickBank.com or similar.
Digital products are created in electronic format and are only visible and function on devices like smart phones, tablets, laptops or computers. When you purchase a digital product, it will either be delivered to you via email attachment or through a download link.
Some of the most common digital products sold on ClickBank are short training courses, but software and apps are also common digital products sold on other platforms. Creating digital products to sell can be a great source of income as other people (affiliates) will be motivated to do the selling for you in return for a healthy affiliate commission (usually 50%). If you want to make money online using these products, yet you don’t have the skills to create them, a place like ClickBank would be a good starting point. They open you up to a large list of digital products that you can sell. You can use your website or blog to start promoting the product. You may also just use the link of the product that leads people to the sales page to start promoting them, even if you don’t have a website.
Digital products are in high demand. They are usually cheap to purchase and very convenient to sell, because you don’t need a physical store to put them on display and don’t need to ship out any physical products by courier. It’s like being able to carry your store inside your computer anywhere you go. Creating great digital products that will sell well takes a lot of time and effort, but if done right they become a fantastic source of residual income for years to come all from the initial upfront effort.
Number 8: AFFILIATE MARKETING – AMAZON ASSOCIATE STORE
Creating an Amazon Associates store (Affiliate Marketing).
Amazon is one of the world’s biggest online stores and currently operates in around 15 countries. With its huge directory of products, easy to use interface, no hassle payment methods and fast delivery options, it’s easily most people’s ‘go to’ site when it comes to purchasing online. Whatever you’re looking to buy, Amazon usually has it for sale.
Amazon also has an affiliate program called “Amazon Associates” allowing anyone signed up to the program to promote Amazon products and earn a sales commission (up to 10%). If you already have a website and promote Amazon products via the program; anytime someone chooses to click on your amazon affiliate link and purchase products from Amazon, you earn a ‘referral’ fee.
With Amazon Associates, you can also create your own online store which they call the aStore. It allows you to feature amazon products that you can embed or link to from your own website or blog. What’s more, you can also add a page on your website that displays the aStore and customize it to match its look to your website. For instance, if you ran a fitness blog, the aStore would be a perfect and easy way to display your favourite/top-recommended fitness gear and products from Amazon onto your site. Having the aStore on your own website gives your audience the convenience to shop on the same page, whilst the trusted Amazon logo and shopping cart will prove the legitimacy of your store.
Creating an Amazon Associates store is free and very easy. You can start by joining their program and go straight to the aStore section of Associates central. It’s quick to create your own aStore and there’s no need for programming skills to do it. If aStore isn’t available in your country, then another option is to build a WordPress website and populate that site with products from Amazon which are fed into your website automatically using a plugin developed by WooZone – https://codecanyon.net/item/woocommerce-amazon-affiliates-wordpressplugin/3057503
Number 9: EBOOKS
Residual income possibilities from writing electronic books.
An eBook is simply an electronic version of a book which can be read on all sorts of digital devices such as phones, tablets (such as Kindles) and computers.
Making money online through creating and selling eBooks requires a lot of upfront work but little risk and cost. What’s more, becoming a self-published author is now easier than ever. This can largely be attributed to the sheer amount of companies offering their platform to help you get your content out in the world.
Unlike traditional publishing, there is little, if any upfront cost – your biggest risk is simply your time. There’s no need to be anxiously waiting or prying to be signed by a book publisher as you can now simply sign up to a book publishing platform online. Amazon’s Kindle Direct Publishing (KDP) platform is one of the biggest eBook platforms in the world. Not only is sign up quick, easy and free but they also offer generous royalties of up to 70%, compared to traditional publishing rates that usually vary between 6%-25%. In other words, companies such as Amazon’s KDP has now made becoming a self-published author easy and accessible to anyone.
When it comes to monetizing your eBook, there are a few ways you can go about it. The easiest and quickest way to monetize your eBook is simply to sell it at a fixed price on Amazon’s Kindle marketplace. Kindle has countless readers that are always on the lookout for new book releases. If your book offers them the kind of entertainment they’re looking for, you can start making money right away.
Another option is to give your eBook away for free as an incentive. Perhaps your eBook is aimed at a niche or target audience? By making your eBook accessible for free in exchange for something as little as an email address, you can reach a far larger potential pool of customers. Many people feel hesitant to buy promotional products and courses online due to a lack of credibility and legitimacy online. Thus, by providing them with free, valuable content you are building up a relationship of trust, legitimacy and authority with your audience.
Therefore, they are much more likely to trust and buy your promotional product or course later down the line.
What’s more, some choose to put relevant promotional links (whether it be their own or affiliate products and courses) inside their eBook. This is another simple way to maximize your eBook earnings.
Creating eBooks for Kindle is a simple process. It’s a plus if you know how to organize ideas that could be turned into a book. But if writing is not your forte, you may also hire freelancers who can write for you. Content for eBooks also needs to be well-researched and perfectly written. The same pressure you get from perfecting a physical book also applies when creating eBooks.
Number 10: YOUTUBE CHANNEL
YouTube channel (Ad income, sponsorship and Patreon.com support).
YouTube is the 2nd most popular website in the world (first one being Google), with over 1 Billion users visiting the platform daily. YouTube in its entirety is a global video-sharing platform where you are free to upload and share your videos with the rest of the world. Based on the daily user count mentioned earlier, you can only imagine the amount of content that’s available to browse, with videos ranging from vlogging (video blogging) to documentaries, movie trailers, news and music; to name a few. With increasing accessibility to the internet across the world, and the fact that the internet plays such an integral role in our day to day lives, it’s no wonder that YouTube services almost 1/3rd of all users on the internet globally.
To be successful as a YouTube content creator, you need to identify a few things about yourself and who you want to attract as an audience. Many big YouTube channels have proverbially died in the past due to them changing the theme or content (i.e. subject matter) of videos which don’t appeal to their already developed and existing fan-base. A few things to consider when starting a YouTube channel are as follows:
• Decide on a consistent theme that you want your channel to portray.
o If you want to be a news channel that talks about all the latest gossip in and around the world or your area, then focus purely on that subject matter. You shouldn’t make a video one day around world news, and the next day upload a cover song you did on the guitar of your favourite artist.
• Use cleverly titled video names to attract your audience; accompanied by a relevant and unique thumbnail image pertaining to the subject matter of the video.
o Do NOT use clickbait titles (titles that sensationalize the subject matter and have no relevance to the video itself, only to get a user to click) your videos.
• Be presentable and maintain composure when addressing your audience. If you know your subject matter and talk clearly, users will be more likely to return to your channel to hear what you must say next.
• Theme your channel and content around your personality and who you are as an individual. People can spot someone who faking or putting on a persona that’s not their own very easily, and in turn this causes users to back away from that content creator.
YouTube can be a very good source of income. The platform is not only there to provide a source of content for users, it’s also there to help people make money through it. The entire ecosystem is symbiotic and everyone relies on everyone else; this is what makes YouTube such a strong platform to be associated with. Content creators are what drive the entire community, and it’s the content creators who make both YouTube and themselves money.
The four main ways of making money on YouTube are advert support, fan funding, sponsorship/product endorsements and affiliations.
Make sure your videos are getting adverts, by enabling Ad Support. This means you will start earning per video view. Ad Support is a built-in software package within YouTube which automatically renders advertisements to provide the content creator with an income, based on the number of people who watch their video. Most YouTube content creators use Ad Support to fund their channel, which in turn allows them to create better quality content, which then in turn drives more viewers to their channel.
Fan funding is another method to generate an extra income stream where your audience can show their support by donating money to you each month. You can build a fan funding page using patreon.com as a guide, where you are labelled the creator and your supporters as patrons.
You can offer them exclusive access to early content, or other rewards for being a supporter where the more they donate, the more they can receive. The extent of your rewards to donation amount are endless, and this a great way to earn a little extra on the side.
Another effective method is sponsorship or product endorsements. Channelpages.com, Famebit.com, Grapevinelogic.com and other similar websites are the best websites to start with. Sponsorship or product endorsement is where you are offered to promote a product by wearing or having the product displayed in the background of your video. Product endorsement is where you dedicate a certain amount of time in your video to talking about the product, and get paid accordingly from the product supplier. There is A LOT more involved and best practices regarding this type of income generation on YouTube where you need to follow strict guidelines on how you endorse a product or give a paid review.
Number 11: CREATING APPS
An application, or app for short, is a computer program designed to run on mobile devices and computers. Native mobile apps began life as fun add-ons, featuring most prominently in the gaming sector. However, the shift in attitude towards apps has been monumental, with some of the largest companies we know today depending on it. When you consider that 89% of consumer media time is spent in apps, it is easy to see why they hold such commercial significance.
Creating your own app is not easy so you should have some coding experience, or hire an app-developer. If an application is free, that doesn’t mean they don’t get any income from it. In-app purchase is one way of earning from a free app. If someone installed your application and wants to buy additional features, they will pay for it. In-app advertising is where you allow your co-creator to advertise on your app. However, there is a method called CPI (Cost per Install) for if your app isn’t free, people who are interested will buy it and you get paid per install.
Apps are an incredibly good source of income, especially if you already have a great idea for an app that hits one of the 3 E’s (educational, entertaining, efficient). What’s more, there’s a higher chance of your hard work getting paid off as millions of people are always looking for a new and better application to install on their device.
Number 12: PODCASTS
Creating and selling podcasts.
Podcasting is a fantastic way for people to connect with their audience. Many YouTube creators have a second channel dedicated solely to Podcasts. Podcasts are essentially recordings of yourself discussing something, or discussions between 2 or more people which are then made available for download online for audiences to watch or listen to. Think of Podcasts as mini talk shows, which can have guests and main weekly speakers talking about different topics that their audience finds interesting.
A podcast can be either an audio recording or in video format, or both. One user may want to watch the video version of your podcast and has the time to sit down and watch the show, or another user may want to only download the audio version of the podcast and listen to that while they go for their morning run. If you can produce good quality content audio recordings, there is an abundance of opportunities for you being found and noticed on platforms like iTunes which has 800 million accounts or SoundCloud which 250 million users.
If you choose to monetize your podcasts, you have several avenues in which to go down. Once you have decided on which Podcast platform you would like to upload to, you will be given the option to either make your podcast available for free download or for a fee. Most top Podcasters provide their material for free to maximize their reach of audience; and then use paid sponsorships (most popular by far) within their opening or closing credits. Another option is to advertise a digital or physical product or service, be it your own or a third party. In this instance if a user was to choose to purchase or download the product that you were advertising through your podcast, you can earn a substantial referral fee for recommending someone else’s product/service.
Number 13: CREATING PROBLEM SOLVING MINI COURSES
Building a mini-course to help people solve problems or make life easier.
As mentioned previously, online communication and the Internet has become an integral part of our day to day lives. We now live in what’s referred to as the “digital” or “information” age, which highlights our shift from an industrial society to a very much knowledge-based society. Foreseeably, with this advancement of information ease, online learning has become a very popular way to learn. Students worldwide now have access to virtually any course on any subject, and the best part; this is just the beginning.
If there was ever a “right time” to create your own online mini-course, it would be now. Now more than ever, people are hungry for an alternative from the traditional, exclusivity of the education system. Mini-courses are highly favoured because of their affordability, flexibility and short-time scale.
You don’t need to be a professional to create an online-mini course. You do however need to know enough about a subject that allows you to be fluent, fluid and confident in the way you present the subject matter, which will facilitate others to buy your product. Most mini-courses are video based and comprise of multiple short videos that help people solve specific problems. An example of this would be a “How to train your German Shepherd’’.
As mentioned before, you don’t need to be an expert. Simply think about the problem your target audience would be having and provide them your knowledge and expertise to overcome that problem. Think of the type of common questions people would ask related to your topic of interest.
With that said, not all mini-courses need to be about solving a problem. Curiosity is another great factor to attract people to buy your mini-course. You can adapt existing subjects to be more fun and entertaining, allowing your audience to engage in a certain topic with a completely different approach. An example of this would be to refine an existing hobby technique by giving it your own personal flare to make it more fun or easier to do, that has worked for you and you’re sure would make it easier and more engaging for others.
Number 14: STOCK PHOTOGRAPHS, VIDEOS & MUSIC
Stock photography, videography and audio jingles to sell on istockphoto, shutterstock, fotolia or similar.
Stock photography is the supply of photos which are often licensed for specific use. This is useful for people who don’t have the budget or time to hire a photographer for creative assignments, instead they can browse through a collection of photos for their creative or commercial applications.
Videography applies the same concept, simply in the format of videos. Videographers are often seen at weddings, corporate events, presentations and sporting events. Businesses may need to buy footage in order to create a promotional video or advert for their company.
Audio jingles are usually short clips that can be bought for commercial use and advertising. Again, unlike paying royalties to a music artist to use their song, audio jingles are often sold on average for $19, with custom soundtracks ranging between $2500 and $5000.
Whatever your field, there are plenty of sites out there to sell your work. You have stock sites such as istockphoto.com and shutterstock.com that make it easy for hobbyist and amateurs with a passion for photography to start selling their photos online. Once approved as a contributor, most sites do not charge photographers to upload photos to their portfolios, instead; they take a percentage of each sale.
Most platforms sell multiple content types such as the ones listed above, however there are also targeted sites for just stock photo, video or audio. For instance, audio jingles can be sold to audiojingles.net and videos to videohive.net. You might want to try several sites to test your work for higher sales. However, you must bear in mind that companies are willing to take a smaller % of each sale, if you choose to upload solely to their website. So, do your research and figure out what the best approach is for you.
Number 15: CONTENT REVENUE SHARING
Content revenue sharing is where you get paid to produce valuable and relevant content to high-traffic websites such as yahoo.com, hubpages.com, forbes.com and so on.
There are many reasons why writers prefer to earn through content revenue sharing in comparison to regular writing gigs. If you get accepted as a contributor to one of these major publishing websites, you will have a brilliant platform to increase readership to your own site, increase your social media following and increase the value of your credentials for future writing jobs. What’s more, unlike a lot of contract writing gigs where you must write a certain number of posts per week/month, most content revenue sharing prefers to use a pay-per-post method, thus providing you with more flexibility as well as the ability to write higher quality posts – as the saying goes, less is more.
On top of personal brand recognition and pay-per-post remuneration, content revenue sharing sites are often performance-based. In other words, if you increase site traffic and blog attention which convert to more sales for the website, then you will be rewarded accordingly. This means you earn what you’re worth, rather than just a fixed standard rate.
However, becoming a contributor to one of these top-performing sites isn’t easy. These companies have a large pool of eager aspiring writers, but it is by no means impossible. If you believe that you have extensive knowledge on a certain subject, a great story to share, an interesting topic of interest, or simply believe your writing style to be engaging and enjoyable to read, then it’s worth a shot.
Many of these high-traffic websites have an application on their site – it is important that you showcase your best works here. If you have a large social media following or a growing fan-base, a quirky point of interest, a blog, or guests post on other popular sites, here is the place to showcase such works. Remember, when it comes to applications it’s all about quality than quantity so only showcase your best pieces of work.