How I make my passive income
In this post, I will explain the FIVE ways I make my passive income. I try to follow some of the rules I talk about in a previous post about passive Income as much as possible. So, I have 5 different sources at the moment. Soon there will be more, and quite different.
Youtube Ad Revenue
My first source of passive income was from Youtube Ad Revenue. It wasn’t that intentional to start with, and definitely not very much. But I have had it for a couple of years now, not very dedicated to it, but recently I tried to get more into it to make it grow more.
The second source, like for so many others who make money on YouTube, is affiliate marketing. In my case, Amazon Associates. So I make some money on whatever products I refer traffic to, if people buy those products or other products on Amazon.
A third source is my book. Yes, I have written a book about how to do something you love, about habits and how to change your life. As you can guess, I get royalties for the book. And of course, if someone buys it with my affiliate link, I get some money from that too. So, it is s double win, when people buy it. Feel free… 😉
The fourth source of passive income is my online classes. I am a dance teacher too, and since August last year, I have had my online courses for sale. This is currently my biggest source of passive income, and hopefully, it can grow over time. I might write about this a bit more in an upcoming post.
A fifth source is my different t-shirt designs on Spreadshirt, and also on Teespring. The ones on Teespring are also linked on my Youtube Channel, so anyone who watches a video there will also see the different designs in a bar below the video. That is if they are from some specific countries where this is available.
I am working on some more sources at the moment, and they will be very different from the ones I already have. Before we finish I want to tell you quickly about the rules for passive income I try to follow.
One of the most important concepts I try to follow is of diversification. I try to not put all eggs in one basket. I know, we all have to start from somewhere, we all start from with one stream of income, but as soon as possible, try to use multiple streams of income and try to use different platforms to drive traffic.
My current platforms
With my current streams of passive income, I mainly use YouTube, Facebook, and Instagram to drive the traffic, sometimes Twitter. But I have also started with Pinterest and Quora to see if they give some value.
Most “products” I have had so far have been connected with dance in some way, except for the book I wrote. My YouTube channel, my online classes, my t-shirt designs, and also my affiliate links were all dance-related in some way. So in a way, I have had limited diversification. But, I am trying to change it, both trying to use more platforms, and also with the upcoming products.
If you have any comments or questions, feel free!