 How you can make passive income in 2022 step-by-step guide Okay, so passive income. That's what this video is about. It's about passive income If you want to learn how to make passive income, you're gonna want to watch this to the very end And don't forget to subscribe if you haven't done so hit that subscribe button down there If it's red look at it. If it's red click it turn it gray Don't forget to ring the bell turn all bell notifications so you're notified each and every time I go live Passive income Well, yeah I mean if you've got a lot of money and you could buy a whole bunch of Airbnb's and rent them out or put some money in stocks and bonds and I Mean, yeah, if you've got a lot of money I mean passive income is really described as an income that you earn while you sleep But if you don't have the money if you don't have all this money to invest, what do you do? Okay, the answer to this is if you don't have the money you got to invest the time a lot of Bloggers a lot of creators online. They make money. They make money based on assets that they create So the only thing you have to do is invest your time to create these assets that are going to make you money moving forward Now I started making videos on YouTube a number of years ago I didn't get serious until probably two and a half years ago something like that And I remember my first month because it was in November and I actually was monetized and I got some money and That particular month. I think I made a hundred and forty nine dollars Okay, it wasn't a lot of money But a little bell went off in my head or a light bulb whatever you want to call it and it was like wow If I could make a hundred and fifty dollars, maybe I could make fifteen hundred Maybe I could make fifteen thousand Maybe I could make a hundred and fifty thousand and the truth to that is you can all you have to do is put in the Time to get that passive income I'm making money right now as I'm doing this video because my other videos are being viewed and ads are going on those Videos and I get paid on those ads and there's links below them and people are clicking those links and their affiliate links And I'm getting paid on those so I'm making money right now as I'm making money right now, which is pretty cool Okay, so that brings us back to what exactly is passive income because passive means you're not doing anything And I don't think that's even true because even if you had a lot of money and You were buying stocks and you were making money off your stocks. Well, you had to buy the stocks It took time to do that you had to analyze it or if you were buying real estate for air B&B to rent out You had to go find the real estate. You have to keep up the real estate. You have to deal with the renters I mean there's stuff you got to do real passive income I guess the only thing I could think of would be maybe interest if you put your money in a bank And that doesn't pay you much But if you want to make a lot of money, you're gonna have to put for some effort But it's usually a low level of effort. Even if you do set up some type of passive income Let's say it's a course that you've sold online That course is gonna have to be updated and you're gonna have to make sure the course is working and you're gonna have to answer Request from people who have questions about the course. There's always gonna be some amount of work And I think that's what scares people off is they're like, well, I don't want to have to do any work I just want true passive income you can turn off this video now because that doesn't exist There's no such thing as true passive income, but there is income you can earn with very little work I I have a lot of income that comes into me where I may not work on it for a month or six months And I still have money coming in during that period of time. I think that's pretty cool I like this quote. I'm gonna put on the screen here. This is from Caitlyn Borgon I think that's right Borgon something like that. She says hot take passive income is Almost always a myth whether you're selling DIY courses books apps rentals or stocks generating dollars is far from passive Creation promotion optimization maintenance. These are not passive activities. It takes work Unsexy work and you know, I tell a lot of people when they say well, gee, you're lucky because you make money online You're just lucky. I'm not lucky. I work a lot. I spend a lot of time doing it and I've had a lot of Friends family associates try to do what I do and they just quit and that's the thing in the beginning You put a lot of effort into one of these things and you don't make a lot of money Example being my YouTube channel making a hundred and forty nine dollars the first month It was monetized. That was not a lot of money and I had put Thousands of hours into it to make that hundred and forty nine dollars But I could see further down the road that I was going to make that money every single month month in month out from That point forward if I never did another video, I'd be making money But instead I started doing more and more and more videos and I started seeing more passive income from Affiliate links which I make money every single month on those from ads I make money every single month on those so let's dive into this income thing and do some definitions real quick So these are the three types of income active income is money earned from services or doing an agreed task This can include salaries tips and fees and involves Exchanging your time and skills for money. This is what the lowest paying ones It just is and then passive income is money earned from doing the work up front examples of passive income Includes selling digital products advertising and rental income and then the third one up there is portfolio income Money earned from investing in assets It usually requires an upfront investment and can include dividends stocks real estate investment trusts Riding out a spare room or leasing interest capital gains peer lending Mutual funds and royalties So the real difference between earned income and passive income Is earned income as you're getting paid on the time that you invest in doing something That could be a job certainly That is earned income But you have to invest a certain amount of time passive income is when you set something up and you've done some work on it Some work of some sort But you're making money when you're not doing work on it too and that would be called passive income And you got to look at some of the benefits of passive income too I mean it's pretty cool to make money when you're not actually working I mean you could use it for some extra income on the side to pay down some bills You could use it for income to become a digital nomad and live around the world wherever you want You could use it for early retirement. Maybe you just want to sock away some cash But there's a lot of benefits to that passive income now the other cool thing about passive income is You build an audience But here's the key to building an audience the bigger that audience is the more money you can make That's pretty neat and you control building that audience You can also scale your sales and what I mean by that is let's say you do an ebook and you sell it to 500 people At 10 bucks. Okay, you're going to make $5,000 which is really nice But what if you sold it to 5,000 people or 50,000 people or 5 million people? You see you can scale it even though you've only done that work one time for that one ebook If you sell it to more and more and more people It can generate a whole lot more money than any earned income ever could now the two questions I've always asked are how much can I make and how soon can I make it? I think they're funny questions because neither one of those questions are answerable I know when I started out, I didn't know what I was doing. I know when I made my first $10 online I was so excited. It was only $10. I came running into the room. I was a single dad. I told my two kids I just sold something online. They were like, how much money did you make? And I said $10 and they said dad, that's not much money. That's less than our allowance I said, no, you don't understand. I could make money online somebody online gave me money So when you ask me the question how much money can you make and since then I've sold millions and millions and millions of dollars Of products and services online It just opened up a window for me. It just told me that I could do it. I could make some money online So when you ask me how much money can you make it's you know, it's it's uncapped But the other part is how soon will I make it? Well, how soon you're going to make it has to do with how much you want it and how much effort you put into it If you work a whole lot if you work every waking hour on your business You're obviously going to make money quicker than if you only worked an hour on the weekend every other weekend, right? In both ways are going to earn you some money But they both control how much money you're going to make and how soon you're going to make it Now there's only four steps to making passive income. So let me walk you through them real quick The first thing is plan your asset. What's your asset going to be? Is it going to be a course? Is it going to be an e-book? Is it going to be a physical product? My main passive income is my survival food company And I worked on it for years and years and years and years. Okay I've been doing that for 12 going on 13 years now But in the beginning I didn't make much money in the beginning. I had to do a lot of work In the beginning I had to buy the product. I had to warehouse the product when I got an order I had to go out to the warehouse. I had I actually started in my garage Okay, and all fairness I started doing this in my garage, but I did finally get a small warehouse And I would have to put the items in a box and I would have to put tape on it And I would have to put a label on it and I would have to get it to the post office or get it picked up And that was a lot of work. Okay, that was a lot of work nowadays. It's not like that nowadays all the orders are put in online I have a warehouse in another state. I pay people to package it and ship it out I pay another company to make products And when I do all that it becomes a passive income because all I do now is take in the orders And send the orders over and all fairness I pay somebody in our office to do that portion of it So I don't do a lot of work for that company now But I spend a lot of time and I put a lot of effort into it getting it to that stage So you've got to plan it and how scalable is your product? Okay. Is it something you can sell to the masses? My product I can sell to the masses. I also have courses out there I have books out there I have different things that make me money every single day and all combined They provide me a nice income. So that's the first thing you got to do is plan your asset Whatever it is the next thing is you got to create your asset if it's a Physical product you got to get it created. You got to get a manufacturer. You got to buy it from somebody But you got to create a product. I've also created courses online Like I said books And I had to create all those products I would spend many hours on the weekend when everybody else was out watching the game or going to the movies or whatever I was working on my particular product and creating that particular product Saturdays Sundays nights all those things that people just don't want to do That's what you need to do the next part is you need to build an audience You can do that by doing videos on youtube I've built an audience on youtube for some of my other products right here my survival food company I put out all kinds of publications about how to survive a bad storm and how to prepare your family and All kinds of guides and I gave those out free so I could build my audience so I could sell them food And I did all those things because it is a survival food company And all those things kind of complement survival foods And I know if they're interested in all those other areas about survival and self preparedness and all that They will probably buy my survival food Especially if I've given them some free stuff up front. I've helped them up front and I've helped them with some of those pain points So I sell food at Survival cave food. You can check that out too. And the last step is create your passive income strategy What's it going to be? Where are you going to sell it? Are you going to have a website? Are you going to do youtube videos? Are you going to do you know free downloads? Are you going to do white papers? What are you going to do? But you got to start And I think this is the biggest problem a lot of people have is they never start because they say I just want to do what's going to work. I don't want to make any mistakes. I don't want anything to go wrong That's impossible. You're always going to have things go wrong You're always going to make mistakes things aren't going to work out just face it and when they don't work out You just need to learn from that thing That thing that you screwed up that you made a mistake going you just don't do that again But you keep moving forward. I hope this video helps you out a lot I hope you understand a little bit more about passive income Some of you may have more questions about that if you do do me a favor post below in the comments section Ask me any question you wish or if you just want to say hello, that's cool, too Maybe you've got a cool passive income idea. Put that in the comments below. Don't forget to subscribe Hit that subscribe button there turn it from red to gray. Don't forget to ring the bell Turn on all bell notifications. See you're notified each and every time I go live I also have a free course down there you can grab. It's absolutely free Look for that course down there. It's normally $97. You might as well grab it now while it's still free Thanks so much for watching the video and I'll see you in the next one