today I'm going to be talking about passive income through the lens of online business specifically for those of you that want to take your knowledge or skills and turn that into income I'm going to share with you my high leverage three-part system to creating passive income in your business this is something I've been doing for many years now I've created my dream online business that is full of Freedom flexibility and I've made millions of dollars through passive sources so when I started my online business there were two things that were so appealing to me I wanted to be able to work from any where and I wanted to be able to set up systems so that I could make sales even while I was sleeping while I was watching Netflix or hanging out with my dog along the way I figured out that by embracing systems that is exactly what I could create and now that's something I share on Instagram I take a photo whenever an automated sale comes in in my business and I share exactly what I was doing in that moment so let's get down to how you can make it happen first we have to address the elephant in the room how passive can it really be there are varying degrees of passive but for the most part it takes a lot of time and energy in order to set this up however if you're like me you have no problem putting in the hard work now to set up long-term assets for you that will continue to pay you over time and a lot of these strategies or products can be passive but as an add-on to what you're already doing for example you have to Market your business so I'm assuming that you are doing that already now you have to keep doing that in order to sell your passive products so I see them more as passive income streams that you can add to your existing business all right here we go now make sure you watch until the end so you can see how these all fit together all right step number one is to build a YouTube channel yes do not click away even if that doesn't appeal to you right now I'm going to be able to convince you so building an audience is the most valuable thing that you can do online and it is going to be a huge factor in how much passive income you can make overall The Reason YouTube is so amazing is because you actually get paid to build your audience right this is something that you have to do already so why not get paid for it so you're going to take your knowledge and expertise and create highquality free videos and publish them on YouTube then once you reach the threshold of 1,000 subscribers and 4,000 watch hours you're going to be able to turn on YouTube monetization through YouTube AdSense this is the simp simple as saying yes you can monetize this video so now you can turn on monetization of all your videos and your video library starts to really add up so you're going to be able to make money from old videos that you've already created this is when YouTube starts to really feel passive when videos that you've created months or years ago continue to bring in passive income every single month so if you know that you have to build your audience anyways in order to bring in passive income why not get paid for it so this is step one in the base of the system so of course it is a ton of work upfront and it is a ton of work to continuously create videos that being said there are ways to make it a lot more manageable and a lot of parts of the video creation process that you can Outsource to others so yes it is a lot of work to create each individual YouTube video but once you publish it it continues to make you passive income for years step number two is to layer on affiliate income to to your YouTube videos so as you're creating videos around your area of expertise you are going to be making recommendations you're going to be recommending your favorite products websites apps other creators the list goes on so now what you want to do since you're already doing this is you want to go ahead and check which of these companies have an affiliate program this means that you will now get paid to refer people to that company so let's say I'm doing a YouTube video and I mention aof software that I really love I'm going to talk about that and then I'm also going to include the affiliate Link in the video description below so this is very simple to do genuinely that's all you have to do is include your links in places that you are already talking about those products and the sign up process of becoming an affiliate and getting your unique affiliate link that you need this is how they measure who has been referred by you all you need to do is go and sign up through these companies and for the most part it's a very simple sign up process so this is just a no-brainer addition to this system now you want to make sure that you are going Beyond things like Amazon's affiliate program you want to look for individual companies that have a really great affiliate program that will actually add up to a significant amount so this goes beyond Amazon's affiliate program you want to look for companies that have really good commission structure so for example example some of the softwares I recommend they have lifetime Commission on a monthly basis and that can really add up so go beyond Amazon look at individual companies and another great hack for you is to actually be an affiliate for other people's programs for example some of my friends have online courses that are like $2,000 and every time I refer someone to that course and they end up buying I'll receive a commission of about $700 okay so it's not just these low ticket opportunities there are lots of high ticket opportunities out there as well so that's something I'd highly recommend looking into being an affiliate not just for apps and software but for other people's products and programs as well all right step number three is where you're actually going to make the most income and that is by creating your own digital products so now that you've built this audience on YouTube you can present offers to them you can create highquality digital product products that your audience will love so there are so many different digital products that you can create from templates to spreadsheets workshops programs online courses the list goes on I've actually created a PDF where I've listed out 50 different digital product ideas so click the link in the description to grab that so the incredible thing here is that you put in the hard work upfront to create these products but then you can sell unlimited amounts of them for many many years in the future without any extra work on your end so this is so exciting and this is exactly the type of business that I wanted to create one thing I want to note though it does depend on the product you might have to do updates but still it is so much easier to do updates than create everything from scratch so I still consider that pretty passive now let's get a bit more specific so yes there are all these different digital products that you can create but you want to be as strategic as possible with this choice for example yes you could decide to create an ebook and sell it for like $10 but that will take a lot of sales in order for that to add up to significant income so instead you want to look for opportunities where you can charge a higher amount and you don't have to make so many sales this is one of the reasons that I chose to focus on online courses instead I wanted something that was going to be truly transformational for our students one that I could sell unlimited amounts of that I could sell in my sleep and that I could charge a higher amount for so that I wouldn't have to be stressed out worrying about getting so many sales so if that sounds good to you consider creating an online course or program so my business and the system I recommend for you is YouTube affiliate income and online courses and the great thing is that they are all interconnected and grow together so if you are curious on the exact system I use to make sales in my sleep click the link in the description below I have a free Workshop where I go in detail and break down every single step for you thank you so much for watching this video I hope that you found it helpful I am so excited for you to create passive income in 20124 if you have any questions at all about this system let me know in the comments down below and I'll see you real soon with another [Music] video [Music]

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