In this episode I talk about 5 of the best ways to make passive income with no money! These methods don’t require much capital and are all methods I’ve pursued. Each of these channels cash flow me to this day.
5 BEST WAYS to Make Passive Income with NO MONEY
Transcription
Below is a transcription of the podcast. This transcription was taken from Otter.ai so it might not be completely accurate:
Sharon Tseung 0:02
This is the digital nomad quest podcast with Sharon Tseung. teaching people how to build passive income, become financially free and design their best lives.Hey guys, it’s Sharon from digital nomad quest and today we’re gonna talk about five ways to make passive income with zero to low capital. Now, if you guys are new to the channel, welcome, I’m all about teaching how to build passive income become financially free and design your best lives. So if you guys are interested in that, make sure to subscribe and hit the bell button to be notified of my latest videos. So my tik tok, I’ve been talking a lot about real estate investing. And then people were commenting stuff. Like it’s funny how you need money to make money to seeing that I felt like I needed to respond to this. I just feel like this mentality is really limiting and prevents you from becoming wealthy. On this 2019 CNBC article, they said they’re 2600 for billionaires in the world, and 55.8% of them are self made. Now if everyone had this mentality that you needed money to make money, then a lot of these people who are wealthy would have never gotten to that point in their lives, because they just had this limiting belief that they would never become wealthy because they needed some money to be able to get there. But the fact is, there are many different ways to make money without needing capital to begin with. So let me talk about those five ways. So of course, there are full time jobs that you can do to build up your wealth. You could also pick up freelancing jobs, right. But let me talk about passive income side hustles that you can do on top of those things, those things don’t require money to begin with. But that will help you build capital, let’s talk about some other online businesses that you can start with zero dollars to low capital. So number one, you can sell digital downloads on Etsy. I feel like I talk about this all the time, it was one of my first ways to get started with building passive income, what you do is you sell digital products like Photoshop templates, and Microsoft Word templates, which is what I sell, and then I sell that in my shop. And then every time someone purchases something from my shop, I get the money automatically, and they get their order automatically. It’s very convenient, because you don’t have to ship and fulfill your orders. It just goes into their account automatically. It’s a digital product stored within Etsy. And also most of the revenue becomes profits, because their fees are pretty low. And you don’t have that issue of needing to stock inventory or purchase inventory. So obviously, most of that revenue becomes your profit. So it’s actually really convenient if you want more information on that. A lot of videos on Etsy, I even have a free crash course on Etsy link below. I also have a paid course called the Etsy entrepreneur that you might want to check out, I talked about my blueprint from where I got from zero dollars to $1,000 a month in passive income every month. Essentially the steps of selling on Etsy is you want to create the product, you can create it through free software like Canva, or Google Docs, or Google Sheets. You can even create it through Microsoft Word or Photoshop, which is what I do. And then you’re going to list that on your Etsy shop, you’re going to create your Etsy shop and then you’re going to rank for certain keywords so that your listings go on top of search so that you are able to get sales you can also use social media and other platforms to be able to market your listings. You also need a handle some customer support. But other than that is pretty hands off. Number two, you can try merge by Amazon. So basically go to merge.amazon.com, you’re going to be able to upload shirt designs to Amazon. And they’re going to print and fulfill your orders for you on custom apparel like hoodies, shirts, and things like that very hands off, they pay you through royalties. So you don’t even need a handle customer support. They do everything for you. So this is super passive and passive income. And I’ve made tons of money through this channel. When you go on merch by amazon.com. There’s an application process you need to sign up for, you want to make sure you submit a very good application where you list places you’ve sold before or designs you’ve created before or websites you’ve created to really show that you have design experience or marketing experience. Once you get accepted, you’re going to have to try to level up in tears essentially getting sales on your shirt. And every time you get more sales, you’re going to be able to level up to the next tier, and you’re going to be able to upload more design. I’ll make more videos on merch by Amazon. But essentially that’s the idea that it’s like a print on demand company where you can sell on Amazon without even having to stock inventory or purchase inventory. Number three, you can also do print on demand on Etsy or Shopify. So that’s on top of merch by Amazon, you can do that through platforms like printful t launch guten, you can also sell on Teespring and teach it but essentially with services like printful and T launch and guten. These are your partners that will be able to integrate with Etsy and Shopify and be able to fulfill your orders for you. So you can create your Etsy shop, you can create your own website through Shopify and sell that way merch by Amazon is the same type of thing, but it’s only exclusively through Amazon. And then these are other services that will help fulfill your orders through Etsy and Shopify or you know, if you even started your own t shirt store, you could use these print on demand partners to be able to fulfill your orders for you. Number four, you can create a blog I’ve made so many videos on blogging where I talk about how you can actually make money through your blog. So with blogging, you’re going to want to rank your articles and drive traffic to your blog and you can monetize through things like ads, you can monetize through your own products. courses, books, services, membership sites and things like that. So the idea is you drive traffic to your website, and then you get them to purchase something, or they click on your ads, or they sign up for your membership in order to get exclusive access to certain products that you offer. Essentially what this you’re building a brand and an audience that trust you enough to want to learn more from you. And that can be within any niche. If you’re an expert on Golden Retrievers, or something like that, you might want to make a blog about how to take care of golden retrievers, you can talk about dog training, there’s a lot of niches that you can actually monetize through blogging. And then that brings me to number five, it’s YouTube. That’s what I’m doing right now. I’m not even monetized yet. I’m trying to get to 4000 hours, and then I’m gonna be able to monetize through ads, but not only can you monetize through ads, it’s the same thing with blogging, you can monetize through selling your own courses, you can sell your own books, you’re building an audience that really cares about what you’re teaching, or maybe you’re providing value in different ways like entertainment, or things like that. But essentially, you’re building a brand where your audience cares about you. And they’re going to be interested in products that you have to offer. Or you might do affiliate marketing and upsell different products that you believe in and you recommend. And when you’re doing affiliate marketing, you’re essentially promoting other people’s products and putting your unique link for that product. And whenever people purchase through your link, you get a commission fee for that. So I hope these different ways help to spark your interest on different ideas you might want to pursue. These are all you know, zero dollars to low capital ways of making money when it comes to the cost of these things like Etsy has listing fees, but it’s only like 20 cents and a cut of the profits. And if you did print on demand and integrated with Shopify, you have to pay for Shopify costs, which is like $29 a month or something like that. If you did blogging, you’ll need to pay for a hosting plan in a domain. But all these are very low costs, right? And there are other methods like merch by Amazon and YouTube that don’t require any costs at all. So I hope you guys enjoyed this episode. Please make sure to rate review and subscribe. It really helps our podcast grow. And thanks again. I’ll see you guys in the next one.Transcribed by https://otter.ai
This is the digital nomad quest podcast with Sharon Tseung. teaching people how to build passive income, become financially free and design their best lives.Hey guys, it’s Sharon from digital nomad quest and today we’re gonna talk about five ways to make passive income with zero to low capital. Now, if you guys are new to the channel, welcome, I’m all about teaching how to build passive income become financially free and design your best lives. So if you guys are interested in that, make sure to subscribe and hit the bell button to be notified of my latest videos. So my tik tok, I’ve been talking a lot about real estate investing. And then people were commenting stuff. Like it’s funny how you need money to make money to seeing that I felt like I needed to respond to this. I just feel like this mentality is really limiting and prevents you from becoming wealthy. On this 2019 CNBC article, they said they’re 2600 for billionaires in the world, and 55.8% of them are self made. Now if everyone had this mentality that you needed money to make money, then a lot of these people who are wealthy would have never gotten to that point in their lives, because they just had this limiting belief that they would never become wealthy because they needed some money to be able to get there. But the fact is, there are many different ways to make money without needing capital to begin with. So let me talk about those five ways. So of course, there are full time jobs that you can do to build up your wealth. You could also pick up freelancing jobs, right. But let me talk about passive income side hustles that you can do on top of those things, those things don’t require money to begin with. But that will help you build capital, let’s talk about some other online businesses that you can start with zero dollars to low capital. So number one, you can sell digital downloads on Etsy. I feel like I talk about this all the time, it was one of my first ways to get started with building passive income, what you do is you sell digital products like Photoshop templates, and Microsoft Word templates, which is what I sell, and then I sell that in my shop. And then every time someone purchases something from my shop, I get the money automatically, and they get their order automatically. It’s very convenient, because you don’t have to ship and fulfill your orders. It just goes into their account automatically. It’s a digital product stored within Etsy. And also most of the revenue becomes profits, because their fees are pretty low. And you don’t have that issue of needing to stock inventory or purchase inventory. So obviously, most of that revenue becomes your profit. So it’s actually really convenient if you want more information on that. A lot of videos on Etsy, I even have a free crash course on Etsy link below. I also have a paid course called the Etsy entrepreneur that you might want to check out, I talked about my blueprint from where I got from zero dollars to $1,000 a month in passive income every month. Essentially the steps of selling on Etsy is you want to create the product, you can create it through free software like Canva, or Google Docs, or Google Sheets. You can even create it through Microsoft Word or Photoshop, which is what I do. And then you’re going to list that on your Etsy shop, you’re going to create your Etsy shop and then you’re going to rank for certain keywords so that your listings go on top of search so that you are able to get sales you can also use social media and other platforms to be able to market your listings. You also need a handle some customer support. But other than that is pretty hands off. Number two, you can try merge by Amazon. So basically go to merge.amazon.com, you’re going to be able to upload shirt designs to Amazon. And they’re going to print and fulfill your orders for you on custom apparel like hoodies, shirts, and things like that very hands off, they pay you through royalties. So you don’t even need a handle customer support. They do everything for you. So this is super passive and passive income. And I’ve made tons of money through this channel. When you go on merch by amazon.com. There’s an application process you need to sign up for, you want to make sure you submit a very good application where you list places you’ve sold before or designs you’ve created before or websites you’ve created to really show that you have design experience or marketing experience. Once you get accepted, you’re going to have to try to level up in tears essentially getting sales on your shirt. And every time you get more sales, you’re going to be able to level up to the next tier, and you’re going to be able to upload more design. I’ll make more videos on merch by Amazon. But essentially that’s the idea that it’s like a print on demand company where you can sell on Amazon without even having to stock inventory or purchase inventory. Number three, you can also do print on demand on Etsy or Shopify. So that’s on top of merch by Amazon, you can do that through platforms like printful t launch guten, you can also sell on Teespring and teach it but essentially with services like printful and T launch and guten. These are your partners that will be able to integrate with Etsy and Shopify and be able to fulfill your orders for you. So you can create your Etsy shop, you can create your own website through Shopify and sell that way merch by Amazon is the same type of thing, but it’s only exclusively through Amazon. And then these are other services that will help fulfill your orders through Etsy and Shopify or you know, if you even started your own t shirt store, you could use these print on demand partners to be able to fulfill your orders for you. Number four, you can create a blog I’ve made so many videos on blogging where I talk about how you can actually make money through your blog. So with blogging, you’re going to want to rank your articles and drive traffic to your blog and you can monetize through things like ads, you can monetize through your own products. courses, books, services, membership sites and things like that. So the idea is you drive traffic to your website, and then you get them to purchase something, or they click on your ads, or they sign up for your membership in order to get exclusive access to certain products that you offer. Essentially what this you’re building a brand and an audience that trust you enough to want to learn more from you. And that can be within any niche. If you’re an expert on Golden Retrievers, or something like that, you might want to make a blog about how to take care of golden retrievers, you can talk about dog training, there’s a lot of niches that you can actually monetize through blogging. And then that brings me to number five, it’s YouTube. That’s what I’m doing right now. I’m not even monetized yet. I’m trying to get to 4000 hours, and then I’m gonna be able to monetize through ads, but not only can you monetize through ads, it’s the same thing with blogging, you can monetize through selling your own courses, you can sell your own books, you’re building an audience that really cares about what you’re teaching, or maybe you’re providing value in different ways like entertainment, or things like that. But essentially, you’re building a brand where your audience cares about you. And they’re going to be interested in products that you have to offer. Or you might do affiliate marketing and upsell different products that you believe in and you recommend. And when you’re doing affiliate marketing, you’re essentially promoting other people’s products and putting your unique link for that product. And whenever people purchase through your link, you get a commission fee for that. So I hope these different ways help to spark your interest on different ideas you might want to pursue. These are all you know, zero dollars to low capital ways of making money when it comes to the cost of these things like Etsy has listing fees, but it’s only like 20 cents and a cut of the profits. And if you did print on demand and integrated with Shopify, you have to pay for Shopify costs, which is like $29 a month or something like that. If you did blogging, you’ll need to pay for a hosting plan in a domain. But all these are very low costs, right? And there are other methods like merch by Amazon and YouTube that don’t require any costs at all. So I hope you guys enjoyed this episode. Please make sure to rate review and subscribe. It really helps our podcast grow. And thanks again. I’ll see you guys in the next one.Transcribed by https://otter.ai
