In this episode I talked about how I made $6,000 in passive income in December of 2018 (largely helped by holiday sales). These passive income streams took time to build up but not as much time to maintain. Keep watching to see the ones I pursued!
How I Made $6,000/month in Passive Income (5 WAYS)
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 I want to tell you guys about how I made $6,000 in passive income in December of 2018. So I have two disclaimers. One is I don’t like to break down specifics and my income because I want to kind of keep my financial information private. Sorry about that. I want to tell you guys about the different income streams I pursued to get to that $6,000 level that month. Another thing is in December, the holiday sales are crazy. So that’s kind of also why I was able to hit that figure that month, and I got a lot of sales because people are buying gifts for loved ones for holidays like Christmas and things like that. So December is always an amazing month, usually for passive income. It really did.Hands on the different income streams you’re pursuing depends on the seasons for merchandise, obviously holiday sales are going to be great for t shirts summer is going to be great. So it really depends what passive income stream you are pursuing. So I was able to attain that income through five different means. One is through buy and hold property to his March by Amazon. Three is Amazon FBA for his Etsy and five is affiliate marketing. So I want to tell you guys more about each of these income streams. So the first one I said buy and hold property, I did a little bit of real estate investment when I was 22. I bought a home and that still gives me passive income to this day, I use the rents to pay off the mortgage as well as sort of profit per month in passive income. I also have a property manager to manage the rental property, which makes it pretty smooth for me, I’m able to get that passive income pretty easily and the great thing is the property has appreciated as well. SoThe great thing about buying hold if you get in at the right time, you could profit a lot. So I’m all about saving money building assets, you know, investing your money into these different income streams and assets. Number two, merge by Amazon.So merge by Amazon is an ondemand t shirt printing service sellers can sign up for the website, you have to be accepted by merge by Amazon in order to sell shirts and things like that on their platform. So what you basically do is you go into merge by Amazon, you upload designs, and Amazon’s going to put that on T shirts, sweatshirts, hoodies, whatever you choose. And they’re going to put that on their marketplace when you submit your listing. So you put that digital file of a design up and then what Amazon’s going to do is put that on their merchandise and then when people purchase your shirts or hoodies or whatever, Amazon’s going to actually print and fulfill your order for you. So it’s so hands off, they’re going to do all the printing of your design onto their apparel, and then they’re going to fulfill the order for you. You doDo any customer support they’re paid to you in royalties, it’s really easy. So this is probably one of the most passive of passive income sources. To be honest, it’s very hands off, you still need to maintain your account, you need to consistently put up shirts and listings and things like that. But yeah, so hands off because you don’t need to deal with the customer. You don’t need to fulfill the order, like ship the order to your customers. And that’s why passive income is so great. You could be laying on the beach or something and get sales. It’s so easy. It’s a lot of work in the beginning, but afterwards is pretty chill. Like you can start making sales without having to do anything, which is why passive income is so great, you make money work for you. All right, number three is Amazon FBA. So Amazon FBA is basically Fulfillment by Amazon. And what you do is you send products to the Amazon warehouse, and whenever you get sales, again, Amazon’s going to fulfill your orders for you. It’s kind of like the same thing where Amazon fulfills your orders for you. You just submit your listing and give them the imageTori, the way you make it passive is you work with other manufacturers and then you sort of work with them to private label a product, you do that work to kind of create some product that you want to sell. And then what they’re going to do is send over that inventory to the warehouse for you. And then once you get sales on that listing, you validated that it works and then you just keep sending over product over to the warehouse to get sales on the product and make passive income essentially. So yes, there’s still work but you know, once you set it up, it can be one of those things where all you have to do is replenish the inventory whenever you run out. So Amazon FBA is another means of how I make passive income, or number four is Etsy. So on Etsy, I sell digital downloads, I sell Photoshop and Microsoft Word templates. And basically, this is my first income stream that I really pursued and started making a lot of money on it. I did this while I was traveling for two years, and I waswas able to figure out how to rank pretty high on the Etsy marketplace and start selling products. Basically, when you sell digital downloads on the Etsy marketplace, you don’t have to fulfill the orders. Again, because it’s a digital file, you’re putting up a digital file onto the marketplace and it lives there. And whenever someone purchases it, Etsy is going to help you send that over to the customer. And then you just make those profits as he takes a little commission takes also 20 cents per listing to set up but it’s you know, that’s pretty minimal. If you’re making a lot of passive income, that’s not a big deal to spend that little bit of money. So it’s kind of nice that he’s created this way of making passive income and you don’t need that much capital to get started. If you want to learn about how to make passive income on Etsy, I’ve actually created a course and I teach people how to make passive income I basically give you all my knowledge about the Etsy marketplace and how to profit on the marketplace. So if you are interested, go ahead and purchase that course. I laid down all my secrets on how to rank well onEtsy marketplace all you need to know is how to make digital downloads. Again, I use Photoshop and Microsoft Word templates. But there’s so many other ideas you can pursue you could basically sell like budgeting tips, or an invoice form template like on an Excel spreadsheets or resume templates. There’s so many different options that you can sell. You can sell ebooks on a certain niche that you know a lot about. So maybe you’re an expert in real estate investing, you might create ebooks or something and put that into the Etsy marketplace. So you need to think of some ideas based on your strengths. I also teach in the course how to make your first digital download for free through Google Docs. It’s so easy to make digital downloads and you know I show case how you can do it for free. So if you’re interested, go ahead and get that course. So lastly, the fifth way I make passive income is through affiliate marketing. So currently on my blog and on a niche site that I’ve created, I actually promote products that I recommend and then if people perJust from it, I get a commission basically. So with affiliate marketing, you get a unique link to kind of promote these different products. And then whenever you get sales, you make money, the owner makes money and you make money as a commission. If you’re interested in affiliate marketing, check out my video on affiliate marketing myths. And you’re going to learn a little bit more about affiliate marketing for beginners. Also, when I mentioned the niche site, so I created a test website and basically created a lot of posts about certain topic. And then I was able to sort of become a thought leader in that space. I’m not going to tell you guys what the niche site is, it’s just because I don’t want people to kind of copy what I’m doing. But essentially, yeah, I made this niche site where I talk about one specific topic and then I kind of show my expertise and then I promote certain products around that niche. So people have been buying from my links, which in turn gives me profits. So usually how you do it with affiliate marketing is you’re you’re sort of building a brand, you’re sort of trying to be a thought leader in a niche. And then when you become thattrusted source you can recommend products and people might purchase from it. They get value because you’re recommending something that can help them a lot. The owner gets value and then you also get value because you make money. Essentially affiliate marketing is a great way to start making money right away as well. Okay, so these are my five ways of making passive income and that’s how I was able to reach $6,000 in December of 2018, and passive incomeTranscribed 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 I want to tell you guys about how I made $6,000 in passive income in December of 2018. So I have two disclaimers. One is I don’t like to break down specifics and my income because I want to kind of keep my financial information private. Sorry about that. I want to tell you guys about the different income streams I pursued to get to that $6,000 level that month. Another thing is in December, the holiday sales are crazy. So that’s kind of also why I was able to hit that figure that month, and I got a lot of sales because people are buying gifts for loved ones for holidays like Christmas and things like that. So December is always an amazing month, usually for passive income. It really did.Hands on the different income streams you’re pursuing depends on the seasons for merchandise, obviously holiday sales are going to be great for t shirts summer is going to be great. So it really depends what passive income stream you are pursuing. So I was able to attain that income through five different means. One is through buy and hold property to his March by Amazon. Three is Amazon FBA for his Etsy and five is affiliate marketing. So I want to tell you guys more about each of these income streams. So the first one I said buy and hold property, I did a little bit of real estate investment when I was 22. I bought a home and that still gives me passive income to this day, I use the rents to pay off the mortgage as well as sort of profit per month in passive income. I also have a property manager to manage the rental property, which makes it pretty smooth for me, I’m able to get that passive income pretty easily and the great thing is the property has appreciated as well. SoThe great thing about buying hold if you get in at the right time, you could profit a lot. So I’m all about saving money building assets, you know, investing your money into these different income streams and assets. Number two, merge by Amazon.So merge by Amazon is an ondemand t shirt printing service sellers can sign up for the website, you have to be accepted by merge by Amazon in order to sell shirts and things like that on their platform. So what you basically do is you go into merge by Amazon, you upload designs, and Amazon’s going to put that on T shirts, sweatshirts, hoodies, whatever you choose. And they’re going to put that on their marketplace when you submit your listing. So you put that digital file of a design up and then what Amazon’s going to do is put that on their merchandise and then when people purchase your shirts or hoodies or whatever, Amazon’s going to actually print and fulfill your order for you. So it’s so hands off, they’re going to do all the printing of your design onto their apparel, and then they’re going to fulfill the order for you. You doDo any customer support they’re paid to you in royalties, it’s really easy. So this is probably one of the most passive of passive income sources. To be honest, it’s very hands off, you still need to maintain your account, you need to consistently put up shirts and listings and things like that. But yeah, so hands off because you don’t need to deal with the customer. You don’t need to fulfill the order, like ship the order to your customers. And that’s why passive income is so great. You could be laying on the beach or something and get sales. It’s so easy. It’s a lot of work in the beginning, but afterwards is pretty chill. Like you can start making sales without having to do anything, which is why passive income is so great, you make money work for you. All right, number three is Amazon FBA. So Amazon FBA is basically Fulfillment by Amazon. And what you do is you send products to the Amazon warehouse, and whenever you get sales, again, Amazon’s going to fulfill your orders for you. It’s kind of like the same thing where Amazon fulfills your orders for you. You just submit your listing and give them the imageTori, the way you make it passive is you work with other manufacturers and then you sort of work with them to private label a product, you do that work to kind of create some product that you want to sell. And then what they’re going to do is send over that inventory to the warehouse for you. And then once you get sales on that listing, you validated that it works and then you just keep sending over product over to the warehouse to get sales on the product and make passive income essentially. So yes, there’s still work but you know, once you set it up, it can be one of those things where all you have to do is replenish the inventory whenever you run out. So Amazon FBA is another means of how I make passive income, or number four is Etsy. So on Etsy, I sell digital downloads, I sell Photoshop and Microsoft Word templates. And basically, this is my first income stream that I really pursued and started making a lot of money on it. I did this while I was traveling for two years, and I waswas able to figure out how to rank pretty high on the Etsy marketplace and start selling products. Basically, when you sell digital downloads on the Etsy marketplace, you don’t have to fulfill the orders. Again, because it’s a digital file, you’re putting up a digital file onto the marketplace and it lives there. And whenever someone purchases it, Etsy is going to help you send that over to the customer. And then you just make those profits as he takes a little commission takes also 20 cents per listing to set up but it’s you know, that’s pretty minimal. If you’re making a lot of passive income, that’s not a big deal to spend that little bit of money. So it’s kind of nice that he’s created this way of making passive income and you don’t need that much capital to get started. If you want to learn about how to make passive income on Etsy, I’ve actually created a course and I teach people how to make passive income I basically give you all my knowledge about the Etsy marketplace and how to profit on the marketplace. So if you are interested, go ahead and purchase that course. I laid down all my secrets on how to rank well onEtsy marketplace all you need to know is how to make digital downloads. Again, I use Photoshop and Microsoft Word templates. But there’s so many other ideas you can pursue you could basically sell like budgeting tips, or an invoice form template like on an Excel spreadsheets or resume templates. There’s so many different options that you can sell. You can sell ebooks on a certain niche that you know a lot about. So maybe you’re an expert in real estate investing, you might create ebooks or something and put that into the Etsy marketplace. So you need to think of some ideas based on your strengths. I also teach in the course how to make your first digital download for free through Google Docs. It’s so easy to make digital downloads and you know I show case how you can do it for free. So if you’re interested, go ahead and get that course. So lastly, the fifth way I make passive income is through affiliate marketing. So currently on my blog and on a niche site that I’ve created, I actually promote products that I recommend and then if people perJust from it, I get a commission basically. So with affiliate marketing, you get a unique link to kind of promote these different products. And then whenever you get sales, you make money, the owner makes money and you make money as a commission. If you’re interested in affiliate marketing, check out my video on affiliate marketing myths. And you’re going to learn a little bit more about affiliate marketing for beginners. Also, when I mentioned the niche site, so I created a test website and basically created a lot of posts about certain topic. And then I was able to sort of become a thought leader in that space. I’m not going to tell you guys what the niche site is, it’s just because I don’t want people to kind of copy what I’m doing. But essentially, yeah, I made this niche site where I talk about one specific topic and then I kind of show my expertise and then I promote certain products around that niche. So people have been buying from my links, which in turn gives me profits. So usually how you do it with affiliate marketing is you’re you’re sort of building a brand, you’re sort of trying to be a thought leader in a niche. And then when you become thattrusted source you can recommend products and people might purchase from it. They get value because you’re recommending something that can help them a lot. The owner gets value and then you also get value because you make money. Essentially affiliate marketing is a great way to start making money right away as well. Okay, so these are my five ways of making passive income and that’s how I was able to reach $6,000 in December of 2018, and passive incomeTranscribed by https://otter.ai
Comments 2
I would like to earn money because i have a financial problem.
Author
You got this!