 All right, so it's Christian the work from anywhere guy back today today We're talking about four ways that you can create your passive income sources this year And what I'm talking about specifically is how to find that idea because we talked about before how digital assets Or what will give you passive income? So in the real world, we have real estate and we can rent that real estate out and we get paid rent checks every single month Now that requires building a house or buying a house and that requires lots of money But if we take that to the internet that concept of creating what's called an asset Which is something we own that throws off cash flow then we can do it for so much cheaper So today no matter where you're starting whether you're already middle of your career. We're just getting started Here's four ways you can find your passive income idea this year idea number one is solving a problem you already have so Back around 2012 or 2013. I looked in my wallet and I had about 27 different credit cards Insurance cards IDs passport all these things now I hate having bulky stuff in my pockets and so I thought to myself what if there's a way to have this all on my phone So I didn't have to leave home without it But I could take it with me and not have stuff in my pockets And I couldn't lose it and it's backed up and if I travel to another country and all my stuff gets stolen I can just log in on my computer and see everything I need to see Now at the time nothing really existed out there to provide the solution for me So I thought what if I created an asset that took care of this problem and I went out there and I paid somebody $1,800 in India to code this app for me called wallet plus We released that on the iPhone store and soon after that it was in the top 10 finance apps in the app store Wallet plus that was my first case of digital assets And I learned that if I just solve problems in my own life and create a solution for that Then probably other people want that solution too So while I created the solution for myself, I can just license that out to people over and over again So the first way to find out your passive income idea for this year is think of what problems you have in your life That you'd like solved take out a piece of paper and a pen Write down what you're annoyed by what bothers you what processes are tedious And try to think if you could create a passive income solution to that something you create once You can give it out over and over again to people and they'll pay you money So number one what problems do you have in your life? the number two way to create passive income is Think about what you do in your free time so the screenshot right here that is 700 something dollars from a course that I sell on snowboarding you can see that's in one day It's a normal day. We didn't do a launch or anything. Here's another one over 700 again So snowboarding is something I like to do as a hobby in my free time. I'm not a certified instructor I didn't go to school for this nothing like that. I just said, you know what I like to do this I've learned some things along the way. I've been doing it in a while. Why don't I help other people do that too? Now when I first started selling my snowboard course I thought people would want to learn advanced techniques and so I spent months and months creating these instructional videos on advanced Tricks on a snowboard how to hit jumps how to hit rails things like that What I found out is that 80 or 90 percent of the market needs to learn Snowboarding from day one so we went out there and we created a big beginner product It took us one day to create We taught people, you know, this is a snowboard. This is how you strap in. This is what the base of the ski area looks like Here's how you ride the lift Here's how you go down the mountain for the first time and that actually sold better than the advanced product so if you're thinking yeah, I have hobbies, but I'm not like a pro at them or anything You have to remember that most of the market is beginners And so you can sell a solution to absolute beginners just by being an intermediate at whatever you do in your free time So idea number two is create a digital asset It could be a coaching program or it could be a course around something you do in your free time and just help Beginners get started remember that we're gonna focus on beginners that way You don't have to be a pro and we can create the simplest possible solution to their problem So instead of spending months like I did creating the advanced solution you can spend one day creating the beginner solution The number three way to figure out How to create your passive income your digital asset this year so you can become what I call a digital landlord is Whatever you do at work So I was in getting my haircut the other day as you can see I got a fresh cut and I was talking to my hairdresser About work and income and she owns this hair salon this business and she has to deal with employees and rent and all this stuff And I said have you ever just thought about teaching people how to start their own hair salon Because she's been through the ringer on the business side of things She knows how to find the right building how to do the marketing how to bring in other Stylus and rent space from her she knows how to do all of this And so she just turns that into a blueprint basically a clone her operating manual And she just sells that blueprint over and over again. She can scale that to the moon. That's unlimited income So that's the asset she creates she rents it out could be a coaching program or a course and She's just cloning what she already does at work. So no matter what you do at work Chances are you could help somebody either get started in that career So I've seen developers and coders sell courses on not how to code But how to get a job in coding or I have a friend who has a very successful company Teaching people how to get a job in management consulting So you don't actually have to teach them the thing that they're going to do You can just teach them how to get started doing what you do So pretty much no matter what job you have if it's desirable in any way You could start a course create a digital asset teaching people either the skills you need for that job or more importantly The strategy to get into that field So that's number three what you do at work number three way to create your digital asset and make passive income this year Is just clone yourself. Whatever you do at work every single day teach people how to do the same thing And the number four way to create your digital asset this year If you don't think you have any special skills You don't have any problems in your life that you unsolved You know, you don't have any hobbies that you do in your free time Even though I think all of us have one of those three then you can actually make money just referring Tools that you already use in your life And so I'm a business owner. I don't know if you are yet But if you look at your business you probably use software and tools and things like that maybe even courses And we can use what's called an affiliate program where we get paid half the commission to just refer that tool out So this is going to have an upside and a downside the upside is you don't have to create your own asset here Somebody has already created the asset The downside is you're gonna make a little less right? You might make 50% But think about it this way in real life with assets a leasing agent on a property You know a property manager might make 10% if it's short-term rentals They might make 30% right so that's taking somebody else's asset running it out and getting paid for it Now on the internet not only do you not have to manage tenants and the property and everything? But you can take somebody else's asset and you can rent that out for 50% or 40% So go find the tools the software that you're using and if you just start referring that out You can start getting a cut just like a leasing agent gets a cut or a property manager gets a cut in the real world for renting out assets So one of my favorites is quick funnels if you want to check that out. There's a link below here That's 40 or 50% and again this requires publishing So usually if you already have an audience or you want to create one where you post on Instagram or YouTube all the time This is a great way to have digital assets and become a digital landlord without actually creating that asset yourself So those are the four ways to become a digital landlord and create passive income for yourself this year I think you know no matter who you are and what your life situation is you can do one of those four Now something I like to do is a little exercise to figure out, okay How can you replace your income with passive income so that you can quit your job forever? Now all you have to do here is take your required monthly income Which in the United States is about 5k a month for somebody with a bachelor's degree is what they make if you have a master's The average is around 8 or 9k a month Just take that amount and divide it by the value of that asset that you're gonna be selling So in in number one. I was selling iPhone app So I sold that for $1.99 so it have to divide 5k month by $1.99 and I have to figure out Okay, I need about 2,500 customers a month to be free So that's gonna be my target for passive income from that asset and with that asset to create 2,500 Customers a month not me by working Number two the snowboarding thing we sell that for you know anywhere between 20 bucks a month all the way up to a lifetime play in at $200 So again, I'll just divide it and you can see I mean much fewer customers With that to hit my target income to make passive income and quit my job Number three I sell what I do at work Usually you can sell what you do at work for a lot more than what you do for a hobby And so the price point and that's gonna be much higher So I'm gonna need much fewer customers selling what I do at work Then my hobby to hit that target income and then the last one is the affiliate Revenue the cool thing about this is it can be recurring every single month But again, that's gonna be usually a lower price point depending on what you're selling We're just gonna take our target income divide it by the cost of that product or cut and that's gonna give us Our target customers per month now if we can hit that target customer per month, we're free We're done with the job. Okay, we have our assets producing for us And we spend our time actually building more assets. That is the digital landlord way Create the assets the assets bring in the money you spend your time building more assets So over time you have more and more assets that create more and more money. So it's not that you're not working We just call that passive income because you've already done the work You've already created the asset and you spend your time building more assets And that's how you get a really really high income over time. Now if you're wondering how do you become a millionaire? How do you make a million dollars? Just take the million dollars and divide it by what you sell that asset for right? So if you sell your asset for a thousand dollars Then we're gonna need about a thousand customers to make a million dollars So do the digital asset math right there figure out What do you need to do to replace your income? And what do you need to do to make a million dollars figure out which of those four ideas? You're gonna use to create your passive income this year and in the next video We're gonna talk about how to grow out go out there and actually get your customers to pay for building that asset So if you think about buying a house, how could you get the tenants to actually pay for that house? So you don't have to spend any of your own cash on it We're gonna do that but for digital assets So don't miss that next video in order to do that go ahead subscribe to the channel You'll get notified hit notifications until then it's Christian they work from anywhere guy throw in the comments One through four which one of these ideas are you gonna use this year? I'd love to hear it I'll read all the comments respond to you. See you on the next one