I want to share with you the 7 different income streams I was able to build by the time I was 24 years old. This is not the typical approach for someone in their young 20’s. So I want to explain to you how I was able to do it.
So out of nowhere, just literally waking up the next day. I found out that morning that I no longer had a job. This hit me like a ton of bricks, because this was the income I was relying on and I didn’t have any experience otherwise telling me that you can just be fired from your job just like that with no explanation.
I thought you would get notice, I thought I would be able to plan something in advance. So I had no job at this point. This was when I had to go out and find another job. So I did find another job. And this was about the time I was 22 years old.
And I didn’t want this to happen again. So I started to kind of proactively look at what were other ways that you can make money online. How do you safeguard this? How do you diversify? What do you do so you don’t just get fired, and then have no job and no income.
So while I was working at this job, I started to look into different ways to make money. And I didn’t have money to invest. So I couldn’t buy real estate, I couldn’t invest in the stock market, I didn’t have money to invest up front.
So I had to find ways that I could just use my skills or just use labor. Something where I could put in time and then get money from that long term. So long story short is this is where that transition started from me working a single job to diversifying and starting getting income streams online.
So with that said, I only worked at that job for a year and then when I was 23 and now 24 is when I’ve been working on online income streams. And now I’m completely financially independent of any job and the funny part is, is I’m making at least five times more than I ever did on salary.
So I’m glad that I made this transition, and I’m just making these videos to try to help you guys to go through this same transition. Now before I get into these seven income streams here, I really just wanna give one quick piece of advice.
And that is if you are working at a job and you’re about to go through this transition, don’t jump ship too early. You have to at least build a raft. What I mean by that is, you’re on a ship right now.
You have that income coming in something you can rely on. If you just jump overboard, you just quit your job and you just decide, I’m gonna just figure out how to do this. You have no income, you have nothing to go off of, you’re just going to drown.
So what you need to do is build at least a raft. Start doing this, start doing some of the things that I’m gonna explain in this video, until you have some kind of income you can rely on. Even if it’s not the full amount that you’re making at your job, you will have a raft.
You’ll have something that you can float on for a while, while you keep building it up. And then you will have another ship that you can rely on that income. Start doing these things after hours once you get off your job, until you have something you can transition into nicely.
Alright, hopefully you guys have some context on this now. Now let’s get into the seven passive income streams that I was able to create. So the first one is what I recommend for anyone getting started.
I’ve talked about this before, but that is Teespring. Teespring is a print-on-demand platform where you basically just create designs. You don’t need any paid software for this, you can do it completely for free.
There are some apps that will help you do the designing. So you don’t have to be an artist or a creative. But you’re just creating catchy, trendy things to put on T-shirts, or mugs, or different articles of clothing.
And then you upload it to Teespring. And it creates a virtual listing. And then people can come and buy it. They pay for the whole thing, Teespring prints it and ships it, takes care of customer service and just puts the profit right into your account that you can pay out.
This is great for anyone, because there’s no startup cost. It’s literally just you finding ideas on the internet, creating them and uploading them to Teespring. You can spend just an hour after work every day, and you’ll be able to create five or six maybe 10 designs every day, upload them to Teespring.
And you start compounding this, you do this for a while then you’re gonna have 100 200 300 different designs on Teespring while you’re still working your full time job. You won’t have to worry about this, but it’ll be making money in the background.
So when you go home you can check your account, see how much money you made on Teespring This is a good way to start building up that raft. If you need more on this, I’ve got videos. I’ll link one up here for Teespring.
And there’s a couple of good ones on the channel that will help you go through kind of everything you need to know for Teespring. So once I found out that you could do this on Teespring, I started to look a bit further.
Where else could I do this print-on-demand style. And this led me into my second passive income stream and this was Merch by Amazon. What I found out that Amazon is in everything. well, they’re also in print-on-demand.
Very similar to Teespring, Amazon has a program called Merch by Amazon. Now what’s amazing about this is it’s non exclusive. Now the same designs that you upload to Teespring, you can take those designs and upload them to Merch by Amazon.
Now you’re just gonna get free traffic from people searching on Amazon that are going to be buying those designs as well. Maybe those people don’t know about Teespring. So they didn’t see it on Teespring.
But they did see it on Amazon, double the money. And again, this is completely free to start and you can just keep scaling with this and adding more and more designs. So at this point, I had two passive income streams, and this is so easy for you to start as well.
So this leads right into the third passive income stream. And similarly to Teespring and Merch by Amazon, there’s actually another one called Redbubble. Redbubble is another reputable print-on-demand company.
And again, non exclusive. So you can upload the same designs from Teespring, Merch by Amazon onto Redbubble. Now all of a sudden I had three passive income streams, and they’re all making money with the same designs.
So you guys can make this just as easy as I did. But that’s an excellent way to go from working your job to having three passive income streams. So just like that you have three passive income streams that you just built and you don’t have to worry about after you’ve uploaded the designs.
Now granted, there’s more things that you can do in regards to marketing to sell more on print-on-demand. They’ll be linked in the video up here that’s using social media, but you don’t have to do those.
When you’re working your full time job, just add these things in. Just upload the designs and let them do the marketing for you. So there’s your first three right there, and that’s the first three that I started with.
So once I had put some work into this, and was actually making decent money on print-on-demand on these three sites, it was pretty life changing for me. As a 23 year old, you weren’t really supposed to be making this much money, and not doing anything because it was so passive.
So at this point, I wanted to teach other people what I had done. So I started at my university and I wanted to get together groups of people and teach them what I was doing on Teespring. For those that were interested, they could come to kind of a meeting, and I would show them what I was doing.
And obviously for free, but just to share this information with people and see how they would receive it. So what happened here was the university actually stopped me from doing this, because it wasn’t in their course curriculum.
And I guess maybe it went against some of the things that they were teaching in the university courses. So I had to look for a different way to share this knowledge. And this is where one of my friends told me about Udemy.
And that’s how I started teaching courses on Udemy. So Udemy is a course platform where you can put together a course, and they sell pretty cheaply. And it’s an easy way for people to purchase kind of a package course that goes through a lot of things in detail.
So I put together the very first Teespring course and it turned out to be about 15 hours of recorded content on starting from just your idea to start on Teespring to where I was at on Teespring. Now eventually trimmed this down to a more digestible course still over on Udemy.
And the cool thing about Udemy is you get one on one reviews with me. So if you’re in one those courses, I can help you one on one with your Teespring stuff. But with that being said, that’s how I started on Udemy.
And by default, this turned into being my fourth passive income stream online. And that was teaching courses on Udemy. Once I put together that first one on Teespring, it really drove me because people were receiving it well, and it was very helpful.
Just explaining it in detail step by step, turned out to be a very effective way to do it. And what worked for me was that I could teach this one time, do it in extreme detail and do it very well. And then anyone purchasing it from that point forward would get that presentation.
So there were no on days or off days. It wasn’t like I was teaching it in person where I was sick that day and couldn’t present as well as the day before or forgot to mention something. It’s all pre recorded, and perfect for every student going forward.
Affiliate marketing website
So once all four of these were kind of established and running by themselves, I moved into finding additional ways to build income streams. Now the next one for me was an affiliate marketing website. So I decided to try this out for myself, and I made a few niche affiliate marketing websites to see what works and what doesn’t work.
Try all these strategies for myself and see what gets results. And to date I have one that I focus on, it’s in a specific niche. And the way that it works is it’s about a niche. So when someone’s searching something related to a niche on Google, my site comes up.
And if you do this properly, your site will come up for the specific questions that they’re typing in. Now they’re on your website, and they can get an answer for what they’re searching on Google through your website.
And then in that post, that you’re answering their question, you can put in links to affiliate products. Something that’s relevant to the question they were asking. Something that you’ve tried, you actually trust and you recommend, you can put an affiliate link through that article.
So when someone goes on the reading the article, and they’re like, oh, that product is perfect for what I’m looking for. They can click that, they go over to Amazon or wherever you’re referring that product through an affiliate network, and they can purchase it.
And then the website they bought it from gives you a commission for sending that traffic and getting that sale. You’re gonna get the bulk of your traffic through Google searches. They come right onto your website without you doing anything.
Read the article, get their answer, and if they like the product, they click on it. and they go purchase it, you get a commission. That’s affiliate marketing in a nutshell, and just be sure you do this on a specific niche.
If you do it too general. It’s not going to work. Now in the creating of this niche affiliate marketing site, I wanted to try a few of my own things to see if it would actually work. So what I tried doing was making YouTube videos instead of blog articles on the site.
And to see if that would work for putting an affiliate offer down in the description. So where this started was actually doing review videos of different Udemy courses that I had taken. I’ve taken a lot of Udemy courses, I’ve done a lot of Fiverr gigs.
I’ve tried a lot of things that some people are going to go in and not know which one to choose. So I would do a review of that product or that course, and then put my affiliate link to that Udemy course or to that Fiverr gig in the description.
So people could watch the YouTube video, get a real time video review of that course. And then if they like it, they can click the link in the description. It goes right to the course, costs them nothing extra.
But I get $1 or $2 from Udemy or from Fiverr. So that turned out to be the sixth income stream. Completely separate of the niche affiliate marketing website, but using the same concept of affiliate marketing over on YouTube.
And what’s cool about YouTube too, is it’s a search engine. So people are typing in the same thing. There typing in questions that they would be typing in on Google, and finding answers in video format.
That’s the only difference. What’s kind of cool too is Google and YouTube their owned together. So some of your results on YouTube filter over to Google. Now moving on to the seventh. I love this one, and I wanted to tie it up with this.
This was the last one I kind of found out about, but that is the Ebates Referral program. Now hear me out on this one because a lot of people reject it before I even get to explain what it is. But Ebates is a plugin you put on your computer and as you go shopping on the internet, coupon codes will pop up and you’ll get cash back when you’re buying something.
It’s basically to save you money. However, if you refer someone, you send your link. It’s basically your affiliate link or your referral link from your Ebates account to someone else. They install the plugin and then they go and they end up purchasing $25 worth of things online.
That could be in a year from now. If they use that to save money and they get money back ’cause they’re saving that cash back at the coupon. When they spend $25, they get $10 just from Ebates and you get $25 for referring them.
So it’s such a simple way, it cost you nothing. But you just make an Ebates account, share your link with people on Facebook, family and friends. It’s very easy to get 10 people very quickly and it’s $250.
But you just share the link with people. Now, if they don’t already have Ebates, they just click they install it, completely free. And then once they use it to purchase $25, they’re gonna get 10 bucks, and you’re gonna get 25.
So it’s a very easy way to make money online. And it can be passive. You do a huge marketing burst in the beginning, you share it with Facebook everywhere you possibly can. And you’ll get all kinds of people signed up, and then you just wait.
You wait for them to spend $25 online using Ebates so they get money back, and then they will start converting in the future. It might take a month or might take two months before they spend $25 online, but like Amazon is one of the Ebates partner sites.
So when they buy $25 worth of stuff on Amazon that’s gonna count as the conversion. And then Ebates gives them 10 bucks and gives you $25. So you do all the work up front and then you just watch as they convert, and you collect your money as they’re converting down the road.
So hopefully that shed some light on the seven different income streams I was able to create online by the time I was 24 And a couple parting notes, pieces of advice that I’ve learned from this. Are one to diversify.
Build as many of these income streams as you can. Seven is a good number to aim for. They say that’s actually the average amount of income streams that a millionaire has. But seven just a good number of regardless.
And the reason I say this is because when you’re working at a nine to five job, and that’s your only source of income. It’s not actually as safe as we think it is. As I experienced, you can be fired just like that.
You go to sleep, you wake up the next morning, you no longer have a job. And this is common. I know someone who worked for seven years at a company and was just fired from their position. At the end of the day you’re working for a business, and they make business decisions.
A company’s not in the business of keeping your salary just going up and making you more and more money. They’re in the business of making money, and that can often be at the expense of their employees.
So keep that in mind. And when you start to make money for yourself, you can diversify. You can put in as many safeguards as you want. When you have something like seven income streams. If one of them goes out, you have another six.
And it buys you all that time to create that seventh again somewhere else. Or eight or nine or 10. Depending on how determined you are, you can create as many of these income streams as you want. And the best part is you can build them up as big as you want.
And by having income streams online, you can use scale to your advantage. When you go in and work your nine to five job, there’s just one of you. You can only do so much, and you’re only gonna get paid hourly or whatever it is.
When you have online income streams, you can scale that. When you now have 100, 500, 1000 different print-on-demand designs on each Teespring, Merch and Redbubble, now you’re in scale. It’s not just you going in and trying to sell one T-shirt to someone at work.
Now you have 500 on each of these things just floating around for people to buy. When you start to scale things up, that’s where this online income really starts to get powerful. Not only are you financially independent and diversified, but you can actually make more money than you ever have before at a salary job.
And I’m saying that speaking from experience. And the last piece of advice I have on this for any of you guys that are starting out on this, is to build one of these at a time. Don’t go in and try to build print-on-demand and an affiliate marketing site and a YouTube channel and all this all at once.
It’s just too much to focus on. You only have 100% of energy throughout the day. Now if you’re gonna put 10% of energy into 10 different things, that’ll be your full 100%. But you’re never gonna grow any of those things ’cause you’re only putting 10% in.
What I recommend doing is focusing on one thing at a time. So it really doesn’t matter the order that you go through. Obviously, I recommend starting with print-on-demand because you can scale that pretty quickly and it costs nothing.
But just make sure that you’re putting 100% of your energy into one thing until it’s substantially grown or built where you’re happy with it, then move on to the next thing. Alright guys, that’s it for this video.
I hope this has brought value to you guys. If you liked it, feel free to give it a thumbs up or subscribe. If you have any questions about any of these things, feel free to leave them down in the comments.
Originally posted 2021-01-20 03:56:05.