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How To Make Passive Income – 7 Proven Ways, No Upfront Cost

Posted on by Jerad Hill

For years now, I have been putting spare time and effort into a variety of passive income revenue streams that have grown to be a substantial part of my income.

In my 5 Step Guide To Building Passive Income Revenue Streams article, I talked about why I decided to stop trading my time for money. If you are reading this article, you have probably already made this decision.

It’s easy to get caught up in active income methods because they typically pay out faster. The problem is that active income only pays you as long as you are working. Passive income work continues to pay you even long after you have completed the work. If you continue to feed your passive income revenue streams, the growth continues. It compounds like the interest you earn on income you invest.

There are a lot of Passive Income Revenue models that require an upfront investment of money. I don’t believe in selling opportunity that isn’t proven. I would rather you start something with no investment at all other than your time. As you grow, you can find a way to invest in it in other ways.

I have a lot of resources I link to throughout this post so make sure to read it and click on the links that will provide value to you.

I am also going to skip the Passive Income methods that assume you already have a huge following. I will discuss each method and how to grow it into a revenue stream from Day One! Let’s jump into it!

#1 Blogging

It has never been easier to start a professional looking blog. Back in 2005 when I went full time into designing websites for clients, I felt that within 10 years, website design would be fully automated. That means I believed I would be replaced by software. While that is not completely the case, it is very easy to create a website and start blogging without spending any money at all.

Go to WordPress.Com and set up a free blog. There are free themes to choose from so you can give it a professional style that is appealing to you and premium themes that are pretty cheap as well. You can buy a domain name website address for your blog but I don’t believe you need to start with a domain. You can always purchase that later.

Start blogging on a specific topic. Starting a niche blog is the best way to get going because the search engines have a hard time determining what to rank a lower traffic website for. Until your website is receiving a lot of organic traffic from the search engines, it will be hard for you to be more generalized in your content approach.

You can start blogging about a hobby or an area of expertise you have. Your experience and unique approach will help others learn about the topics you are sharing. I shared a great example of this in my previous article and plan to share more, so make sure you subscribe to my blog for updates.

Don’t get caught up on making your blog fancy. Focus on the content. If you need content ideas, use sites such as Quora to look for questions being asked that are related to your blog’s topics.

My wife wrote a blog in 2012 titled “How To Make A Wood Sign With Stickers” which has received over 1 Million views since she wrote it. It ended up getting Pinned multiple times on Pinterest early on when Pinterest was first gaining popularity. She wasn’t even trying to write a viral piece of content, but it happened. Just focus on creating something useful and the views will come.

#2 Online Courses

We carry a high quality digital video recorder in our pocket. You can use it to film an online course to sell to the world. If you have an area of expertise, you can teach others about it. That doesn’t mean you have to be the world’s leading professional on the topic. You just have to know enough about the subject to teach others.

I am a professional photographer, but I am not the leading professional photographer out there. I created a course because I was continually getting asked how I get such amazing photos out of a camera anyone could buy off of the shelf. What is that one thing people keep asking you about? Have you considered turning that into a course?

You can upload and sell your course on sites like Udemy.Com for free. It’s a great place to start because they already have a large user base that is looking for online courses. Use their platform until you have grown your audience to the point where you can host your course on your own website using a platform like Teachable.

#3 EBooks & Information Products

You can easily create an ebook using something as small as your smartphone. There are so many powerful tools available to us these days. You can design and create a nice looking downloadable book using an app like Pages that comes with your iPhone, iPad, or Mac computer.

Ebooks and downloadable information products such as PDFs can be simple or very graphical. I recommend that you focus more on your informational product containing great information and only add flare where it makes sense. Don’t take away from the content, you simply don’t need to.

There are many tutorials on YouTube that can teach you how to make an Ebook in Pages. If you are not on a Mac or an iOS device, there are alternatives for Windows and Android, just do a Google search for Pages Alternatives for Android or Pages for Mac Alternatives for Windows.

#4 YouTube

Some of the most subscribed to YouTube channels started out filming videos on a smartphone or a cheap video camera. The popular YouTuber Casey Neistat often refers back to the cameras he was using when he first got started. You don’t need high-end video equipment to make YouTube videos. The quality of your content is more important.

There are YouTube channels focused on just about everything. I really get into watching “build” videos where someone creates something out of wood or metal. I really enjoy wood and metal working but don’t have the time or the space to do it myself, so I enjoy watching others create which keeps me inspired to create something on my own one day.

You can make videos showcasing a hobby such as many people in the craft space do. Rather than focusing on creating craft products to sell you can teach others how to create items of their own. If you are still learning make that part of the process as well. I shared about the YouTube channel “Seth’s Bike Hacks” in my previous article and how he has grown as a mountainbiker since he first launched his channel

#5 Affiliate Marketing

Companies need exposure for their products. One of the methods used to get exposure are affiliate programs. A company starts an affiliate program to incentivize others to promote their products in exchange for a flat fee or a commission on the sale.

Depending on the month, around 40% of my passive income revenue comes from affiliate marketing I have done for various brands. Currently, the most comes from Amazon.Com. In videos I publish to YouTube, I discuss the use of specific products as part of my videos. I link to those products in the description of the video and people click on those links to view the products. When they purchase a product, I get a small commission. One sale won’t result in much, but 100’s of sales do. Look to see what products you use and how you can incorporate them into your content.

Making passive income from affiliate marketing requires building up a lot of content over time. It will start out small but overtime it will grow into something you can count on each month as part of your overall income.

You can look for affiliate marketing opportunities on popular Affiliate Marketing Networks such as ShareaSale, Clickbank, and Rakuten Marketing. Sometimes companies have their own affiliate program and usually provide a link to it in the footer of their website.

#6 Automated Services

Just about everything can be automated in one way or another. I used to manually manage the business listing information of my clients online. That was a tedious process until I found a company that helps automate that process. Now I simply make sure the information is correct and let the tool I pay for continually check to make sure the information stays current. I log in once or twice a month to check on my clients business information and submit an update if needed.

You can easily find a service that most people do manually and automate it. We live in a world where automation has never been easier. Whether it be finding a tool that automates a process like I did or hiring people on a website like Fiverr to do the work for you, the time invested on your behalf will be significantly less which means you can more easily scale it into a passive income revenue stream.

It is often that automation services start out as something you offer manually. In order to invest in a tool that automates the process, you must first have customers willing to pay you for that service.

You can even use Fiverr to get examples of services you want to offer automation for. Chances are if it is being offered there, people are willing to pay to keep from having to do it themselves.

#7 Stock Photography

There are a lot of websites selling stock photography, so how can you create stock photography that will sell? Simple, create a specific type of stock photography and offer it to people in that industry. Let me give you an example:

An auto repair facility might want to use social media to reach new customers. They probably are not social media savvy so they need photography they can use in their posts and will pay for a collection of images they can use. You can package your photos together with a calendar of social media posts they can publish throughout the month. Heck, you could even automate the process for them using a social media scheduling tool and be their social media manager.

Find a niche that seems to be underserved with interesting photos on stock photography websites and create photos for that niche. The photos don’t have to be professional quality, they just have to be interesting and easy to look at. Keep your images simple and clear of distraction.

To get opportunities to shoot photos of these underserved niche markets, go into a local business that specializes in that niche and trade photos for them allowing you to photograph their facility. They need good photos as well. Just make sure you get permission from them to sell the photos online and have anybody that is in the photos to sign a photo release.

Start Making Passive Income

As you can see, it is pretty easy to start making passive income online. It doesn’t mean you get to avoid work as building passive income revenue streams means doing the upfront work. You are simply choosing to do work that continues to pay you rather than trading dollars for time.

If you want more articles from me on passive income and lifestyle design, subscribe to my blog here. Let me know down in the comments section below if you have any questions or if there is any way I can help encourage you to get started today!

5 Step Guide for Creating Passive Income – Money Making Guide for 2020

Posted on by Jerad Hill

If you are trading time for money like most do to earn a living, take a moment and read this. It could change your life, just as it has mine.

I used to trade time for money as my primary source of income. I would do work and I would get paid for the work I did. That was it. Nothing more, usually nothing less. Why is this a bad deal for you? Well, it’s because your time is not scaleable.

You are given a certain amount of hours in the day that you can be productive before you need rest. If you trade time for money, that limits your earning ability. It is limiting for anyone whether they are a doctor or a school teacher. If you really push it, you can work and get paid for about 12 hours a day, but most of us don’t want to work like that. Even if we need to for a period of time, we never see ourselves working that hard our entire lives.

If you want your income to scale beyond the hours you have in the day, you will have to rethink the way you make money. If you want to have more freedom and flexibility in your day, you will have to make changes. That is what this post is all about.

Before you start looking at different options for making passive income you have to be in the right mindset. Passive income doesn’t mean you won’t have to work. You will have to work. At the beginning, you may even have to work harder than you do currently. This is typically the case with anything you start. It takes work until you build up momentum.

I started looking into passive income options about five years ago when I decided I was tired of chasing clients. I love working with clients but I don’t enjoy the chase. If a client wants to work with me, great. If they don’t, bye Felicia! There is plenty of work out there for everybody and plenty of clients in most cases. The perfect fit will find itself organically. What I just said there is going to frustrate a lot of salespeople. I used to enjoy the sales process, but my focus changed. The face to face sales process is not scaleable.

If I was ever going to have the freedom and flexibility I wanted in my life I would need to make changes to the way I earned money. I would have to be able to put that on autopilot to some extent. My first step was attempting to grow my online marketing agency Hill Media Group. I started by hiring a few employees and getting an office. That grew to multiple employees but I quickly realized that my growing agency was consuming more time than it was giving me back. You can’t just hire people and get time back. It takes a lot of time to grow a business like that to the point where your team can handle most of the daily activities around the business. This option was not for me and it was not the first time I had realized that building a business with employees was not the right direction for me. Sometimes I’m a slow learner.

So how do you go from trading hours for money like I was? It’s a lot easier than you think. You already have the expertise, you’re currently getting paid for doing something right? Let’s start by utilizing that. These are the 5 Steps I have identified you can take to start building a passive income revenue stream today. Let’s jump into it!

#1 Identify Your Area of Expertise

This has been a tough one for me. Not because I can’t identify what I am good at, it’s that I want to be good at everything. It is hard for me to focus on one area of expertise. This is my struggle. For you, it may be figuring out what that area of expertise is. We all have some sort of professional skill and usually a hobby or two we have invested time in to. However, don’t limit yourself only to what you currently know. Nobody says you have to start with a skill you already have.

In his book “Choose: The Single Most Important Decision Before Starting Your Business,” Ryan Levesque said: “consider that you can always learn how to do something that others would like to know.” You don’t have to be a professional, you just have to know enough to teach somebody.

I am currently pouring into a couple of different areas of expertise. Early on, I chose Photography, and have since added in mobile technology and teaching others how to create their own lifestyle rather than accept the one that was handed to them. That sounds like a lot, and I should probably pair down a bit, but for now, that is my focus.

Whether you are a lawyer or a manager at a Starbucks, you can turn your area of expertise into passive income by teaching others what you already know and do. You just have to present it in a way that helps others.

For the Starbucks manager it might be helping local coffee shops hire and train baristas. A coffee lover usually opens a small coffee shop out of a love for coffee, not because they have management and employee training experience.

A lawyer could create an online course to help new lawyers start their own private practice right out of law school rather than working for a larger firm which will push them to generate countless billable hours.

You already have an area of expertise. You can utilize that to help others or you can learn something new. You only need to know enough to teach others about it. We’re not talking Ph.D level stuff here.

I created my first online course for photography on the subject of teaching people how to take better photos using manual mode on their camera. I felt the best way to learn was to understand how the settings worked and how they effected each other. I didn’t bother with big terms and rules that would make it hard to understand manual mode. I just taught it as I know it. Over 250,000 students have taken my course and are taking better photos because of it. Some have even gone on to start their own photography business.

Do you have a hobby like Mountain Biking? The YouTuber Seth’s Bike Hacks is making passive income by turning his love of Mountain Biking into informational videos that help anyone improve their off-road biking experience. Beyond making money from ads that run on his YouTube videos he also tests products you can find for sale online and has built up a large enough following to make passive income-producing exclusive content to those who pay a small monthly fee on Patreon for access to his content. I am not sure what he used to do before making Mountain Bike videos, but he can now support himself and his family through his love of Mountainbiking. He has even turned the process of getting better at Mountainbiking into passive income by talking about that in videos. He didn’t start out as a professional Mountainbiker, he simply took something he loved and started making videos about it. How cool is that? I can give you tons of examples of people who have done this with YouTube or a blog.

#2 Decide On your Platform

There are many different methods for earning passive income. I have already talked about blogging and YouTube as two different options. Here is a list of passive income methods I have determined as being something you can do on the side and build up over time.

  • Blog about a topic
  • Create YouTube videos on a topic
  • Create an online course
  • Create a podcast
  • Write an ebook
  • Sell stock photography
  • Promote affiliate products
  • Online Workshops or Seminars
  • License something you created such as art or music

Everything I have listed above is something I have tried. Some require more work and/or expertise than others. In order to sell stock photography, you need to be able to take great photos. To license your music, you have to be a musician. However, where people often get held up is thinking that they are not good enough to do these things. The simple act of doing will make you into what you need to be. I’m going to borrow another quote from Ryan’s book: “If you don’t think you’re ready to teach someone, think again. The simple act of teaching will raise your expertise exponentially, in a way you didn’t even think was possible.”

You should probably just go buy his book. I listened to it on Audible while driving to and from the airport and while on a flight. Get your first month of Audible Premium and this book for free. Click Here!

It was actually that easy for me to monetize this article and make it create passive income for me while at the same time providing value to you. Prefer reading books over listening to them? Buy the book instead, by Clicking Here.

I have found that I learn more about something preparing to teach it to someone else than I would have learned had I just wanted to educate myself about it. It’s pretty amazing actually. This is why I end up producing so much content online. I learn by teaching others, and so can you.

Choose one or two options from the list and get started today. You can make the learning process part of the education you are sharing with others just as Seth does on his Mountain Bike YouTube channel. Not good in front of cameras? Create a blog and a podcast instead. The tools have never been more available than they are now.

My blog is a WordPress website. You can sign up here for WordPress and start a blog for free. I recommend you do this regardless as you can start your process of building passive income revenue streams by writing about it just as I am here. Even if you are not ready to start your blog, I suggest you buy your website address domain name. Do a quick search to see what domain names are available here.

Just make sure that you don’t start too many things at once. I recommend two at most and I will do my best to create resources to help you along the way, so make sure to subscribe to my blog by clicking here or using the form in the sidebar.

#3 Be a Giver!

You are going to have to have the mindset of giving in order to build passive income. If I had decided to write this blog and sell it to people, it probably wouldn’t sell. I have not established myself enough in the area of passive income. Those close to me know that I make a large portion of my income from stuff I do online, but I have not been specific enough about it yet. While I work on changing that, I will continue to give.

In the book, “The Go-Giver: A Little Story About a Powerful Business Idea,” Bob Burg makes this statement: “Your true worth is determined by how much more you give in value than you take in payment.” I read this book back in 2008 when it was originally published and when I was already on my “lead with value” path. It helped enforce and solidify what I was already doing and gave me even more of a desire to give away as much as I can. Click Here to buy it.

What I have come to learn is that you have to earn the ability to ask people for money. People have so many options these days, you have to give them a good reason to trust you over someone else. If I added up everything I have published online I would guess that at least 95% of what I have put out there was put out for free. That means that I charge actual money for less than 5% of the work I put out. Sounds crazy right? It’s not though, because people are watching.

I put out a ton of photography content before I charged for any of it. That content, however, was monetized in a passive way to the viewer. There was a short ad that played before the YouTube video would start. There were links to the products I used in the description that are Amazon Affiliate links. I avoided the traps other creators get into such as partnering with brands where I would end up trading money for time again. I created what I wanted to create as if I was teaching younger me what he needed to know.

The most important takeaway here is that I gave first. Another great book that validates what I have said here is Rich Dad Poor Dad. Robert Kiyosaki shares this thought in his book about those trading time for money: “They get up every day and go work for money, not taking the time to ask the question, ‘Is there another way?”

#4 Make Yourself Unique

It is said that there is nothing new under the sun. However, it is also said that you are unique and there is no one else on earth like you. God and science back up those two statements. Understanding that makes me very optimistic. It means that even though there are likely others out there that have been doing the same thing you are considering for much longer, your approach can be unique because you are unique.

There is no other photographer talking about cameras and camera settings the same way as I am because I am unique. While there may be some similarities with other YouTubers out there, my tone, personality, and every other unique aspect of my person makes my presentation different than every other photography educator out there. There are people who would prefer your presentation over that of someone else’s.

With that said, the internet does not reward people often for copying others. You need to have your own unique take on what you are going to share with others. This will take time and that is ok. It takes time to develop your voice on a topic, this is part of the process. Just go look at any popular YouTuber’s first video uploaded. Finding your voice is part of the process and it’s a process of growth.

With every new blog post, video, podcast episode, or whatever you end up creating think to yourself, “how can I make that better next time.” Don’t feel bad about what you have already created, just look at how you can improve. How can you tighten it up or make your points more clearly? This is something I am constantly doing, especially in videos where I tend to talk more than the average YouTube viewer prefers.

You can not do what I am suggesting without creating and publishing. You have to put something out there and measure it. You can’t do this privately. You will have some flops and that is ok. You will need to learn that every form of feedback or lack thereof is a form of measurement that you can use to make it better next time. In the marketing world, we call these KPIs or “Key Performance Indicators.” When I put something out there, what are measurements of acceptable outcome? Perhaps its email newsletter signups or new YouTube subscribers.

I prefer thinking of feedback as data that I can use to improve my KPIs. That helps me from getting emotional over a negative comment. You are going to get them simply because you are putting yourself out there. Don’t let someone else’s negativity distract you from your goals. Be unique and you will be rewarded for it. Being unique takes work, but just like being a giver first, it pays off tenfold.

#5 Develop Your Passive Income Revenue Streams

Hopefully, by now you have an idea or three of how you plan to generate some passive income. We talked about topics and I gave you some examples. We also talked about platforms, and I gave you some options there as well. Now it is time to start creating and earning your passive income.

As I discussed earlier, you can’t just create something and try to sell it. You need to build an audience in that space first. You do this by creating content such as blogs, podcasts or videos. The only shortcut to success in this area is to pay for ads on platforms such as search engines and social media to reach the right customers. This can be costly and I am going to assume you are not going into this with a large ad budget. This is why Step #3 Be A Giver is very important. You have to build trust with people and you will do that by giving them information, just as I am doing so in this article.

Using your chosen platform, make it a point to create something once each week. When you have more time, create more often. Write a weekly blog and share it on social media. Invite people to signup for your blog so they get your new writings in their email box. People are busy and likely won’t remember to visit your website often so getting them to subscribe to your email list is a great way to remind them of new content. Continue to feed them information for a while before making the ask to buy something. Your product could be an ebook or an online course. You could even start by giving your first ebook or online course away for free. This will help you build your email list even faster and it’s how I have over 45,000 people on my email list.

It is an individual decision as to when you should try to get your audience to buy something. You can’t give everything away for free forever, but as I have, you can monetize what you are giving away for free. Eventually, you will need to offer something more substantial that people can purchase directly from you. This is where your real earning potential is. I struggled in this area for a long time. This is where I plan to help you thrive.

Helping you get started is the easy part. It only took one blog post that I wrote in one day, all before breaking my intermittent fast for the day. Helping you replace the income your daily job provides is a whole other thing and will take more guidance and accountability.

Key Takeaways

It sounds like a lot, but the key is to just get started. Even if you only have an extra hour each week, you can get started today. Building passive income takes time and as you start to see the fruit of your labor you will desire to allocate more time to working on your passive income projects.

Let’s recap what I shared with you today:

  1. Identify Your Area of Expertise
  2. Decide on Your Platform
  3. Be a Giver!
  4. Make Yourself Unique
  5. Develop Your Passive Income Revenue Streams

All of what I mention above will take work and dedication, which is why I created the chat group on Discord. Most of the people around you will not understand why you are starting this project so you will want some people you can do Passive Income with which is why I created the Discord group.

Building Passive Income Revenue Streams means you are starting a business and you need to treat it as such. There are no special credentials or licensing you need to get to start (unless you plan to give medical or legal advice, or something like that). You don’t need a business license until you decide to sell something. You can earn passive income from affiliate programs such as Amazon Affiliates without ever having a business license. It’s not required. A business license is required when you charge for a product or service directly to another person or entity, such as when you sell an ebook. This requirement could vary depending on where you live so I would check with your local business governing authority to make sure.

Ditch That 9 to 5

This is the first step towards ditching that 9 to 5 job where you can stop trading your time for money and instead invest your time into work that will continue to pay you even if you take your foot off the throttle pedal for a while. It won’t happen overnight. Treat it like an investment in yourself and your future. It will pay off and when it does, it will feel better than any paycheck you ever received from a job.

Next Steps

I have given you a few action steps to take in this post. I recommend you jump on them now. Don’t wait or procrastinate. Procrastination is a form of stress relief through avoidance. You will feel your body resist this change but you can override that tendency by creating your blog now or making that first video for YouTube.

Signup for my email newsletter using this link or the box in the sidebar. I will make sure you get useful information when I have it to provide to help you on your journey of creating passive income.

Follow me on social media so you can see that I am living this lifestyle and not just blowing smoke. My passive income growth allowed me to travel full-time for two months this past summer with my family of six in our travel trailer. If it was not for my passive income revenues I wouldn’t have made it a week.

I hope this article gave you the encouragement and tools to get started today. If you have any questions, please let me know in the comments section below this post. You can also reach out to me on social media or through the Discord chat group I mention above.

I look forward to hearing the story of how you transformed your income by creating passive income revenue of your own.

How I’ve Made $60,000 On YouTube – With Analytics!

Posted on by Jerad Hill

Hey, what’s up. It’s Jerad with Practically Passive, and I wanted to talk today about my number one source of passive income, which is YouTube. Really, that income actually comes from Google AdSense, because Google AdSense is Google’s ad platform for creators. For example, if you’re a company and you have something that you want to market, and you want that to show up in the form of video before a YouTube video plays, then that’s the process you would go through, you would use Google AdSense for that, you would create an ad and it would show during content that was kind of related.

If you came to one of my videos, which was about an iPhone, and you had an iPhone case to sell, you might want your video to play as an ad before, during or after my video is done. So that’s where that revenue comes from with YouTube. I built the State of Tech channel, and also Ditch Auto, which is another YouTube channel up to the point where I’m getting on average around $1,600 to $2,200 a month just from YouTube ads basically.

I started State of Tech a while back. Actually, State of Tech was the second phase from another YouTube channel that I had called Daily App Show. I had really gotten into reviewing apps for smartphones back when the smartphones first came out. I had a lot of traction there, things were going really well for me at that time. It wasn’t so much traffic, or income that was coming from Google AdSense, and from ads, it was active revenue that was coming from other sources such as companies paying me to review their apps.

Daily App Show Website Screenshot from 2010

But when I transitioned towards wanting to come at things from a more educational standpoint, and actually teach people how to use their devices, inform them on how to do specific things on their smartphones, or their tablets, or whatnot, that’s where I really started looking at, “Okay, how do I add the most value? Because this has to be informative. I have to come at this as a good teacher helping people, otherwise, my information isn’t going to be consumed, and it’s not going to become passive income.” As my ad revenue has grown over the months and the years, I’ve really realized there’s a lot of potential in producing content for YouTube.

Revenue-Since-Monetization-SOT YouTube Subscribers State of Tech Watch-Time-Lifetime-SOT

As long as I’m producing enough content, it’s relevant, it’s value-added, then I’m going to end up getting paid over time in a passive way from that content that I’m putting out. I started building on State of Tech because I wanted to be more of an informational source, an educational source in mobile technology. I was trying to differentiate myself from the people who were just doing reviews, who were just doing what I had been doing previously, because the competition had gotten really steep. State of Tech came about and I’ve been kind of slowly building that over time.

Now, I haven’t really focused that well on State of Tech as far as finding a specific topic. I think that if I had gone more niched, and made it just about iPhones, and getting the most out of your iPhone, and being more productive with it, and taking better photos with it, and everything iPhone related, it might’ve been a little easier because that’s a big audience. There’s a lot of people with iPhones, and there’s a lot of people who want to learn how to use their iPhone better.

But I also mixed in iPad stuff, Android phones, Android tablets, Mac computers, Windows computers, drones and all that other stuff into this one channel, which I think created a little bit of a challenge for some people, because maybe they’re not as interested in that wide of a gamut of technology.

I know there are people like me who are interested in all of that, and even though some people may not own all of those things, they’re interested in it, they want to know what technology is, and that’s kind of where State of Tech is, it’s like the state of technology, where is that at, and let’s talk about it. That’s where that whole channel and the name even came from. But I’ve started to realize through watching the behavior of people on the website, or on the YouTube channel, when I get a video that has 100+ thousand views and very few of those turned into actual subscribers. I’m realizing that video performed well, and a lot of people gave it a thumbs up, and there’s great comments, so I know that people are finding that video useful, it’s getting a lot of views, but it’s not resulting in subscribers. So I’ve realized that I think I have gone in too many different directions with that channel, and maybe if I was more specific, I would see better growth there.

I don’t necessarily know if the answer is splitting it off into a whole bunch of different channels or not, that’s something that I definitely need to look at. But I do know typically what is going to produce some views for that channel, and because I’ve been able to create content that’s useful, and it helps answer questions, and it solves problems, I’ve been rewarded in the form of passive income from YouTube add revenue. I’ve tried to do the same thing with Ditch Auto, which is the other YouTube channel that I spend most of my time on, which is in the area of photography.

Revenue-Since-Monetization-DA Subs-DA Watch-Time-Lifetime-DA

With Ditch Auto, I do a lot of camera reviews and set up videos, and here’s tips and techniques, and camera hacks and some different stuff that people can use to become better photographers. So the idea there is that if I’m providing information then I will be rewarded with views and subscribers. That channel’s been a little tricky to grow as well, because I used to shoot with Canon cameras, so a lot of my content was Canon, and then I switched to Sony, so a lot of my content is Sony. Switching to Sony is kind of the popular thing to do right now as a photographer so it’s worked out somewhat.

I just haven’t really found a niche there either to where people could really find a use for every single piece of content that I put out. It’s not relevant to every person every piece of content that I put out, that’s been kind of a challenge for me. But, with all that said, and understanding that there’s a lot of things that I could fine tune and actually make work better, I’m still earning on average $1,800 to $2,200 a month of passive income from those channels alone without even included revenue from links to Amazon products. That’s something that I’ve been able to build up by being persistent, by putting content up as often as I can, even though I’ve had to take some good breaks from that. Especially the last two months, in July and August of 2018, I’ve had to take a lot of breaks from putting up content just because life’s gotten busy, and my actual company has gotten busy, and I lost an employee, so I had a lot of stuff enter my plate. With that, it’s taken away from producing more content for my YouTube channels.

But, with that said also, I am now looking back at that and saying to myself, “Okay, these are great passive income revenue sources that I cannot afford to ignore for too long, how do I make the most of them, how do I produce the content that people want to see and that people will actually subscribe to so that they’ll watch more than one video or they’ll come back as often as I’m putting out new content?” Because that’s where that passive revenue that comes from the YouTube ads is going to grow much faster is if people are coming back. Not every person is new, but I have new people coming in, but I also have people that have been around for a while that are watching content and consuming new content.

With that said, those are the things that I’ve done and kind of the mindset that I have around those YouTube channels, and why they’re working as well as they are. I’ve been feeding into them for quite some time. Now, not only am I being paid with those videos from YouTube, but a lot of them, when they are about a product or something like that, there is an affiliate link down in the description of the video. If I’m talking about, if I did a video on the top five cases for the new iPhone 10, there are five cases and their affiliate links down below.

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If I do a product review on something, if I do something educational that requires something that people would have to buy, then there’s a link down in the description. Those videos I’m getting paid for for people watching them, but also if somebody decides to go and buy the thing that I recommended, I’ll also get paid there. That’s all passive income.

I wanted to talk about the fact that I have made over $60,000 on YouTube because I wanted to make sure that people understand that it’s not the only source. If I put all of my efforts into just getting paid from YouTube only, and then YouTube decided to change the game with the way that they pay out. So I wanted to talk about this so that I could explain that yes there is one passive income revenue source that does produce a decent amount of revenue for me, it’s not the only place that I’m receiving passive income. Because if YouTube decided to make some major changes to their monetization, or if for some reason something happened to my YouTube channel, or whatever, there’s always things that can happen when you’re playing in the space of other companies such as YouTube.

If something was to happen and I lost that, I wouldn’t lose all of my passive income. Yes, that would be a big chunk of income, and it sure would hurt to lose it, but it wouldn’t be the end of the game. I would just have to look at how I have all these other passive revenue streams, how do I make them the primary or how do I build upon them as well? Having multiple things going on definitely takes the stress out of it all being in one basket.

The same way that I typically was stressed out because all of my income was reliant upon clients, getting new clients and stuff like that. If I didn’t get a new client, then I wasn’t getting paid. If I wasn’t able to get the work done in the time promised, then I wasn’t getting paid either. Now, with passive income, I’m getting paid for work that I’ve already done, and all I need to do is continue to pour into that so that those can continue to grow.

If you have any questions about that, especially with YouTube, I know YouTube monetization is a huge one, especially with earlier this year YouTube deciding to set higher guidelines, or higher limitations that people would have to reach. That’s going to do it for this video, if you have any questions especially around the topic of YouTube monetization, let me know. I have several channels that I monetize with YouTube as well as one that I’ve brought to monetization this year in 2018 after YouTube raised the level of requirements for a channel to be monetizable.

Just to recap that, in order for you to monetize your YouTube channel and get paid by the ads that show up in YouTube videos, you have to have reached 1,000 subscribers on your channel, and you also have to have 4,000 hours of viewed content within a rolling year’s period of time. In that year’s period of time, you have to have 4,000 hours of watched time. I don’t know what happens if you fall below that in the future, if they take away the monetization or what, but I know that you have to at least reach those things in order to monetize. I’ve done that with one channel this year, and my goal is to do that with this channel as well, but it’s going to require you subscribing.

Please, subscribe to the Practically Passive YouTube Channel. Check out some of the other videos that I have here on the channel that you find useful. The more that you watch them, the more that it counts towards that limit that I’m trying to reach. That is definitely a goal of mine that I have that I would love to achieve within the next 30 days. I would appreciate the subscribe, and definitely appreciate you watching some of the other videos all the way through. Until next time, my name is Jerad with Practically Passive, and I hope to see you back here soon.

7 Ways to Find Time to Build Your Passive Income

Posted on by Jerad Hill

Hey what’s up, it’s Jerad, with Practically Passive, and in this post I have seven ways to help you find time to build your passive income revenue stream. This is super timely for me because I forgot to put a blog up yesterday. I had announced, not even a full week ago, that I was going to be putting out a blog every day for 30 days and yesterday I straight up forgot to edit a video and get a blog posted.

Now, I started the day early and had meetings in the morning, and then had a couple hours back at the office, tried to knock out editing a video for State of Tech and then had to drive to another town to pick up some stuff for a photo shoot, and then make it back in time to take my kids to Jujitsu practice. Then I had to figure out dinner, I mean, it was just a crazy day, it totally slipped my mind. In looking back, I had forgot to add it to my task list for the day, so it just wasn’t a thing that was on the top of my mind. I had too much going on to really think about it. Then of course there’s today, which at the time that I’m recording this, Apple announced their new iPhones and Apple Watch, so I watched that keynote. I got a new drone in, so I was messing around with that. So there are things for my passive income that I’ve been working on.

Yesterday, I was editing a video on the comparison between the Galaxy S9 Plus and the Note 9 cameras, and so I was editing that video and then I also got my Galaxy Note 9 review video out. So I was working on my passive income revenue streams but I failed at getting a video up for this channel. So here’s seven things that I have identified as things that I need to continuously remind myself of and work at, in order to grow my passive income. I think that they’re things that are going to help you out. So let’s dive right in.

1. Cut Back on Other Activities

The first thing is to cut back on other activities. Now, there are a lot of things that I know that I could cut back on, like TV watching, scrolling Instagram, news and stuff like that. I read … I have to stay up on the industries that I’m in with my passive income, I need to stay up on technology. I need to stay up on what’s coming out with cameras and all of that stuff because I have to constantly be generating ideas for content, and thinking about what’s next and what’s new.

For example, like with the time that I took today, two hours, to watch the Apple keynote, that was two hours that I could’ve been working and doing other things. I tried to multitask but it’s a little hard to take notes and prepare for producing a video while doing other things. So, there’s some times I have to pay attention to that, but when it comes to watching TV shows and scrolling Instagram or Twitter or Facebook, or whatever, those are all things that you can cut back on. I know at times I need to remind myself to cut back on those.

I mean, would you rather be editing content or writing content to put out there that’s going to help you build passive income or would you rather make sure that you are up-to-date with whatever TV show episode that’s out, that you’re interested in. The TV show adds value in an entertainment aspect, but it’s not going to add passive income value to you. So you need to look at those ares and how you can cut back. When you go to reach for that remote, to open up Netflix, or whatever it is, you need to just put that remote down and go jump into whatever it is that you’re doing to start building your passive income revenue stream.

2. Wake up Early or Go to Bed Late

Number two is to wake up early or go to bed late. Now, I am not going to trade out time with my family for my passive income. For example, I’m not going to go home after being gone all day working and then ignore my family so that I can work on my projects. My passive income is not more important than my family. My family comes first because if I sacrifice my family in order to build passive income, what good is having the passive income? I just don’t believe in trading extra dollars for time that you could be spending with your family. Especially in the stage that I’m in now, with kids that are elementary school aged. I want to make sure that I’m spending as much time as I can with them and I don’t want to trade to much of it out for work if I don’t have to.

I already feel like I do that. Going to work from 8:00 to 5:00. I’m already gone throughout the day, and even though they’re at school during the day, there’s still a few hours in the afternoon that if I was able to leave a little earlier I could spend time with them. That means, if I want to work on my passive income, I either need to wake up earlier then everybody else. Everybody in my house wakes up around 6:30. So that means I need to wake up maybe an hour earlier then normal to spend some time in the morning on it before everybody wakes up or wait until everybody goes to bed and then spend a little bit of time.

My kids go to bed around 7:30, 8:00. My wife goes to bed usually around 10:00, so maybe that means I stay up until 11:00 or 11:30 working on it. So that’s a way to kind of get some additional work done on your passive income revenue streams without trading out time that you could be spending with a significant other or your kids, or something else important to you. I also wouldn’t trade out time that you spend on yourself, like going to the gym, remaining fit or taking care of yourself, don’t trade that out either. I would rather it take longer to build my passive income revenue streams then sacrifice taking care of my body. Because these are all things that catch up with you, you can’t get time back in those areas and the more that you put those things off the more that you sacrifice the things that’s are important, the more challenging it is to actually make them important again. So, wake up early, go to bed late. That’s number two.

3. Automate Simple Processes

Number three is to automate as much of it as possible. One of the lovely things about the Internet, if you’re going to be doing content on the Internet, like I do, and a lot of what I’m talking about, whether that be blogs or stuff on social media or a course or an eBook or videos like this for YouTube, is that you can sit down and do a whole bunch of them at once. You may have noticed the videos that played before this one, the majority of them I’m wearing the same shirt. I didn’t even bother trying to pretend like I am recording new videos every day. I sat down and recorded three or four videos at a time. A few days later, I sat down and recorded three or four more videos at a time. Now, this one I’m recording today because I wanted to talk about how I forgot yesterdays video but tomorrows video would have been a video that I recorded a couple days ago.

So, you can actually sit down and knock out a bunch of work, and stagger that work to be published because all of these platforms allow you to schedule your content, so you can make a promise like I did, of releasing something every day for 30 days, and get all that work done and then schedule it out and then it doesn’t become something that you have to do every single day. It becomes something that maybe you have to spend a bunch of time on one day. Maybe you spend a couple of hours on a weekend getting that content done, so that you can schedule it out. That’s automating because it’s automatically going to be posted at the time and date that you give it.

If you’re going to be putting out content, depending on the type of content, it’s best to release it in the morning, especially if it’s content that’s more informational, like what I’m putting out. If it’s entertainment content, you may want to schedule that out later in the day because most people are consuming informational content earlier in the day and entertainment content later in the day. But every audience, in every industry, and whatever type of content it is, it’s going to vary. It’s not a solid rule, it’s just my experiences in having produced both types of content.

So, automate as much stuff as possible so that you’re not doing work that could be easily setup and ran automatically. A lot of that comes down to you being able to just sit down and produce a bulk amount of content and scheduling it so that it looks like you have stuff going out every single day. You want to have that activity, it’s extremely important to have that consistent activity happening constantly so that people are exposed to what you’re doing.

4. Hire a Virtual Assistant

Number four is to hire a virtual assistant. If you don’t have that extra time then you can hire a virtual assistant to do the simpler work. This is one of the things that was talked about a lot in, The 4-Hour Workweek. One of these books that is touting the lifestyle of being able to go and do whatever it is that you want and only work for a few hours, automation is discussed a lot in that book and hiring out and allowing other people to do your easier work. Giving the assistant the authority to do certain things so that you can go and explore the world.

For me, it’s looking at the different things that I don’t necessarily need to do, that somebody else could do for me. What are the things that I know somebody could do faster? Now it’s tricky with video, editing video, I would love to outsource that but the files are so large that transferring them would be tough. It’s much easier for me just to shoot a video, do minimal edits to it and upload it myself. When I had an employee I could have the employee handle that stuff and I could get a lot more content out because I could be shooting videos, he could be editing, I could work on other things, he could still be editing, and so I was able to get much more stuff done and get more content out when I had an employee working full-time. But now that it’s just me, it’s a little bit more challenging and if there was a simple way to outsource my video editing I probably would do it, but when it comes to logo design or some other graphical stuff, I will hire out for that, I’ll use Fiverr.com.

When it comes to converting these videos into articles, I don’t do that because it’s going to take me a lot of time. I use Rev.com, get 10% off your order by clicking here. In a video in the near future I’m going to talk about Rev.com because it saves me a ton of time to have these videos transcribed, for a couple of different reasons, I don’t want to get into it too deep, but I have these videos transcribed so that I can convert them to a blog really easily. I can add closed captioning to my videos, which is extremely important to help with these videos being discovered on YouTube.

5. Find a Partner

Number five is to partner with someone. Is there someone that could add value to what it is that you’re doing and with the two of you together you’re actually able to cover twice the amount of ground, in half the amount of time. Maybe you’re married to that person. You have a spouse that’s interested in a similar thing and you both can share the different responsibilities. Partnering with someone can definitely help get you more ground covered. If there’s something that you can offer and there’s something that that other person can offer, you bring both of those parties together and you have a nice team and you’re able to get these passive income revenue streams built faster.

The only problem with this, is that passive income comes from a lot of different sources. So it’s going to be tricky to look at all of that and make sure that each person is getting what it is that they deserve based on their efforts. 50/50 split is probably going to be the easiest, but one person may be contributing more to a certain income stream and another persons work contributing to a different income stream, so that might actually become a little bit challenging to maintain. Its definitely something that you can do. Especially if you enjoy more working together with someone then you do by yourself.

For me, and I think a lot of people reading this, you’re wanting to build passive income revenue streams for yourself, to separate yourself from being reliant upon anybody else or a job. So partnerships aren’t going to be for everyone. I know that they aren’t for me, but I wanted to include it because a lot of people like that aspect of working together, and with the right partnerships you can definitely achieve a lot more then you can on your own.

6. Cut Back On Work Hours

Number six is to cut back on your work hours. This is something I have done, and it made it easy for me to do that because when I had my last employee quit, I was used to paying that persons wage, 40 hours a week. So that was an expense that all of a sudden wasn’t there. There was a certain amount of revenue that I was able to keep and that allowed me to scale back on a little bit of work. Because not having to pay several thousand dollars a month definitely cuts back on the overhead. That means there’s less work that I have to agree to take on and then that gives me a little bit more time and flexibility.

Now I’m still playing catch up with all of the work that we had signed on before he left. There’s a lot that I still have to get done but in things going forward I’ve definitely been much more picky in taking on new work, so I’m definitely taking advantage of this one by cutting back on the amount of work that I’m taking on so that I don’t have to be as tied to active income and I can work more on my passive income streams. It’s just tricky because I don’t have a typical 8:00 to 5:00 job where I clock in, clock out or I’m not getting all of my instruction from the company that I work for. I have multiple clients with different needs and every day I have different requests coming in through email and phone calls. So it can be little tricky to actually find that time.

So a lot of times I have stuff in my task list, for my passive income, that I have to keep moving to the next day, and to the next day, but I leave it in there because if I do have extra time come up I want to make sure it’s top of mind, that it’s on my task list and that I’m able to achieve it.

7. Quit!

The last thing is just to go all in and quit. Now, that’s not likely something that most people can do. You can’t just up and quit your job, you need that income, until you build your passive income revenue stream big enough that you can replace your regular income with that. Now if you are a duel income household, you’re married, you have a husband or a wife that’s also working, you might be able to work something out there where you say, “I’m going to quit my job and I’m going to go full throttle into this passive income for six months. We’re going to have to sacrifice a little bit, maybe not take any vacations or whatever … ” You might have an option there.

If you’re a single income household, like me, then it’s a little bit tricky because you have everything on your plate, as far as the expenses go and you can’t just necessarily say no to everything. There is no guarantee that your passive income is going to continue to grow and that it will get to a point where you can replace your income with it. That could take a lot of time. So it’s very tricky, and kind of scary, to do that. The more responsibilities you have, the more caution I suggest, in making decisions like this, because the job that you currently have is guaranteed, so long as you’re able to keep the job and they’re able to keep paying you.

Passive income is going to vary, it’s going to be different for every single person as to how long it’s going to take to build that up. Your idea may be really good but it may take a lot of execution to pull that off before you’re actually able to start selling it and start making money. If you’re building passive income like me, you’re getting paid small amounts from different things that you’re doing, and it’s going to take even longer because initially you’re not going to get paid much. YouTube has limitations and things that you have to meet before you’re actually even able to get paid by them. So there’s lots of things that you have to start working at before you’re even going to have much of a passive income at all.

So, the whole passive income thing is most likely going to be a side project for you for a while, until you’re able to get it to a point where you have enough income coming in that you can replace at least some of your current income. That’s my goal for this year. It’s what I’ve been talking about, is trying to make sure that I can invest enough time, into my passive income revenue streams, to build them up to the point where they are meeting my needs of my household. If I can get to that point, I’m able to cut back on that active income that requires me to do client work and doesn’t allow me any flexibility and of course that’s the goal for this year for me and I hope a goal that I can help the majority of you reach as well.

Put in your email address to the form here on PracticallyPassive.com so that you could receive updates, whenever I put stuff out. I have some cool stuff that I’m working on in the background here that I haven’t talked about yet. A giveaway that’s going to be really cool and interesting. So definitely make sure you subscribe so that I get notified when all of that stuff comes out. I don’t want you to miss it.

That’s going to do it for now. I hope to see you in the next one.

3 Questions to Ask Before Building Passive Income

Posted on by Jerad Hill

Hey, what’s up? It’s Jerad with Practically Passive, and today we’re going to talk about three questions to ask yourself before you pursue passive income revenue growth. I think the mindset that you need to be in is a mindset of giving. I’ve always been in a mindset of wanting to share and give and put information out there, and it’s always done me well. Because if I’m not in that mindset of sharing and putting information out there, I’m in a me-mindset, where I want to take. And passive income just doesn’t grow too well in that space. Of course, you can get maybe some quick growths or some quick payments or whatnot that happen, but if you’re not continually adding value, if you’re not putting useful things out there into the world, that tends to dry up pretty quickly.

1. What are your goals and objectives?

The first thing to ask yourself is what your goal and your objective is. Your goal of course, I think, is probably to build a passive income that you can use to replace your existing income. That’s been my goal in this year of 2018, is to replace my income that I make from my businesses with passive income. Not so that I can shut them down, but so that I can have more choice, so I can have more options. There’s a lot of good things that come from a traditional job if you have a decent job, and one of those things is healthcare and another thing is retirement. Those are two things that a lot of jobs provide that passive income isn’t going to naturally provide, you’ll have to set those up for yourself.

Now I’ve been self-employed since I was 20, so I haven’t paid into 401ks or I don’t have any of those things provided by a job. I have to actually do my own investing and saving for retirement. I have to provide myself with healthcare and all of that stuff, so it’s a little bit different. So there may be good reasons to hang onto a job, but in building passive income revenue streams the goal there is to alleviate that a little bit. If you’re constantly stressed out or in fear over your job, over changes in your industry and stuff like that, maybe you’re going to be laid off, or you have that fear, those aren’t going to be as big a fears if you have some more income coming in.

Like at the end of this year, my goal is to replace my income, that means that I don’t have to be so scared when it comes to the end of the month and I don’t have any new clients that I got during that month, or business has been a bit slow. I’ve definitely had months like that, and it is stressful, and it is a bit scary at times because I’ve got a family. I have a wife and kids and there’s lots of expenses and different things there. Though I know we can exist on a lot less than we do, it’s just still a stress and something that causes anxiety and I want to avoid that as much as I can.

I’ve taken the time to look at my life and say, okay, where are the different things in my life that cause the most stress and anxiety. And because I’m a sole provider to my household, to my family, a lot of it is wrapped up in that because it’s the most responsibility I’ve ever had in my life. As an adult, it can be a lot at times. So that is definitely one of my goals.

Now, your objective needs to be what you’re actually going to do, what you’re going to attempt to do, to get a passive income. Now, I’ve said in other videos and I’ll say it in this one, it’s best to have passive income revenue streams from different locations. If all of your money was coming from one location, if that location … if something dries up there, if they go out of business, if they sell to another company, or decide not to have an affiliate program anymore, then you’re all out of passive income. All of a sudden that’s shut off, and you don’t want that to happen.

So you need to look at how you can spread that out, and those are things that I’m going to be teaching in future videos. How did I build a YouTube channel up to the point where I was earning $1200 to $1500 a month just from that one YouTube channel? How, at the same time, did I build up another YouTube channel that’s making $500 to $600 per month? All the while getting $500 to $1,000 from Amazon Affiliates every month, and all of these other little passive income revenue streams that I have coming in. How did all of those come to be and how did I build those? I want to show you all of that stuff, and I will do that in future videos, so make sure to put in your email address on the website, practicallypassive.com. And of course, subscribe to the YouTube channel because those are going to be the two places I’m delivering the most content and the most value for you.

Think about what your objective is, what are you going to be building, and why.

2. What Value Can I Provide?

Now, like I said in one of the first videos, the revenue is in the value. When you’re building passive income revenue streams, you’re putting information out there, you’re sharing things with people, you’re creating things to be sold or whatnot, there has to be value in those, there has to be something that the other person is getting. If you’re coming at it thinking me, me, me, I’m going to build this, I’m going to get paid, that’s the wrong mindset to have. You need to be thinking about the problems and the challenges that the other person has on the other end of this.

If you’re creating video content like I am, you have to be thinking about what is going on in their head, what’s the problem, what’s the thing that they need to overcome or achieve and how can you produce content around that. If you’re thinking about a product that you could put out, like an informational product, that has to have enough value to solve the problem so that the other person would decide to actually purchase that. In thinking about what you’re going to do, make sure that you are leading with value, that you’re thinking about what is the value that I can provide.

3. Be In It For The Long Haul

And then the third thing, which I think is just as important, if not more important, is to be in it for the long haul. If you’re not in this for the long haul you’re never going to see enough growth to have it really blip the needle, when it comes to your income. Now, everything that I build didn’t happen overnight, it took a lot of time. Some of these channels, these YouTube channels that I have are several years old. I’ve been putting content in them for a long time. It’s just that in the last year here have I really been focusing on it and thinking about it as a thing that drives revenue towards me.

In the past, I’ve always just put up videos when I found them useful and just to share information, to put it out there because I found it fun and interesting. I was adding value but I wasn’t looking at it as a way that I can actually earn income. Then when I did, it was cool if I got $100 here, $100 there, that was great, but now that I’m really wanting to take it serious and make it replace my existing income I have to be in it for the long haul.

I can’t be wishy-washy, I can’t jump in from time to time, I can’t not reply to people’s comments and stuff like that. I have to be active. I have to not only show up and be there, but I have to play in that space as well. I have to be involved in that community, and if I’m not, people are going to go elsewhere and they’re going to find somebody that is. You have to be in it for the long haul, there is no quick rich scheme here. There’s no way to build this overnight, it takes time and it takes effort. And it’s not something that’s going to happen immediately, so you need to have persistence also.

So those are three things that I think are extremely important when considering to get into passive income. Just like you show up for work every single day and do well and are consistent so that you can get a promotion within a year or so, you definitely need to have that same approach when it comes to building passive income revenue streams. You need to show up as often as possible, you need to provide value, you need to do a good job. You can’t give it 50%, you have to give it 100 or 100 plus percent so that it actually starts to build something for you that can turn into something that replaces your existing income.

Like I said before, subscribe to the YouTube channel so that you get updates when new videos come out. It’s the best place to consume the video content. And, of course, head on over to practicallypassive.com and put in your email address so that I can send you news, information and updates whenever I find it extremely useful and relevant. So make sure to do that. Thanks so much and I hope to see you in the next one.

Your First Passive Income Revenue Stream

Posted on by Jerad Hill

Hey. It’s Jerad with practically passive, and I wanted to talk about how to find your first passive income revenue stream. Now the reason I titled this video this way is because people are going to be searching for this, but in reality, you’re going to need multiple passive revenue streams because you’re going to want to make sure that you’re diversified and that you don’t have all of your income coming from one source.

Now, right now, you probably have all of your income coming from one source, which is your job. You’ve got to work. You earn an agreed upon wage and you get paid at some agreed upon time, so you know what to expect and you know that you’re going to receive that wage because that’s what you signed on for. It’s what was agreed upon. But with passive income, it’s something that you’re going to be doing a lot of work initially and kind of growing, and you want that income to come from multiple places.

My favorite thing is to have it actually come at different times as well. So, for example, when I get paid from Google Adsense for the views on my YouTube videos, that ads were displayed before and stuff like that, that comes sort of towards the middle, end of the month. My Amazon affiliate payments come at the very end of the month, which is great because a lot of bills are due at the beginning of the month and some of my other affiliate programs, I can actually choose to pay out when they either reach a certain threshold or I can set a custom date, and then they pay out to my PayPal account.

It’s nice because I’m getting paid at different times throughout the month and it’s all different amounts, but it’s something that I’ve grown to be able to rely upon because it’s been consistent enough now. When I wasn’t really putting a lot of focus on my passive income, I was just kind of creating content, and if I got some passive income out of it, that’s great, I couldn’t really rely upon that because may one month I would have a video that did really well. So the next month I’d get paid pretty good on it, and then maybe that video was like super time specific topic, and with it being a time-specific topic, that content just wasn’t very relevant the month after. It kind of died off, and so I didn’t really know kind of what to expect there.

But as I started to build content that was more evergreen, stuff that I knew people would find useful for at least a couple of years, even in and around the subject of technology, I started to see growth in my passive income. So, don’t necessarily be thinking about how to get your first passive income revenue stream. Be thinking about the topics and the content that you’re going to be creating.

Now, in and around that, you want to decide on something that you can add value to. In yesterday’s blog and video, one of the things that I talked about that I learned building passive income revenue streams for myself is that value, the passive income follows the value. If you’re putting value out there, then you’re going to be able to earn passive income from it. If you’re not adding value, then you’re just adding to the noise and it’s not really going to ever result in anything. It’s not going to be very fulfilling for you either.

When you’re thinking about what you should choose as your topic, start by thinking about something that you have an interest in. For example, when I first started my website, it wasn’t necessarily passive income, but it was definitely a side income business, it was when the first iPhone came out. Now I already had some knowledge in that space because I was playing with Palm Pilots and pocket PCs and things like that. I was super into pocketable technology.

Then when the iPhone came out and they talked about allowing third-party apps to be installed on that phone, and that those were going to be available through the iTunes store, I thought to myself, wow. I can’t find good music in the iTunes store. I can’t discover anything there. How do I know what’s good? How am I going to know what’s good in the world of apps when you can’t download a demo or you can’t install a demo and try it first? You either have to buy it or that’s it.

So I started writing reviews. I started producing content around apps. Later on, that turned into creating content around mobile technology. How do you use those new features in the iPhone or the new Samsung phone or whatever it is that you got? How do you make the most out of your iPad. It’s those things that are really interesting to me, and when I was teaching people how to do those things, that’s where the real value was being provided and I was actually getting passive income coming from that.

So when I put out content on YouTube, those videos, if you go and look at the top videos for State of Tech, it’s all basically tutorial videos. There’s a few product reviews in there, but they’re all video tutorials on how to do stuff, and those videos have resulted in decent passive income over the years. It’s been growing and growing. The more that I focus on them, the more that those incomes grow, because I’m adding value.

State of Tech YouTube Popular Videos

If I don’t add value, and I’ve definitely put up some videos where the value is questionable, those videos don’t do well. They don’t end up getting shared. They don’t end up getting liked or commented on or whatever. So the search engines and YouTube’s search engine doesn’t recommend it to other people and so the video doesn’t get a lot of traction. When you’re thinking about what topic you should start tackling, think about something a little more niche that you find interesting, that you have maybe some more information on because maybe you’ve been involved in this space.

For example, if you’re a photographer and you’re thinking about how to grow a passive income revenue stream, be thinking about what you unique aspect of photography you could bring to the table and how you can teach other people about it. If you’re a hairstylist or a makeup artist, there are so many different things that you can do there, especially around the topic of products, because there are so many products out there. Really, what it’s going to come down to is you showing your techniques, teaching people how to use these products and then giving them affiliate links so that they can buy those products because they’re the ones that you’ve recommended. I will have more content on specific ideas for passive income in future blogs and videos.

Just think about what topic it is. Maybe you are more kind of a handy person, handyman around the house, and you just know how to work on things because you’ve always done it or you grew up knowing how to do those things. Maybe that’s an idea for a YouTube channel or for a blog, teaching people how to do stuff that a lot of people just aren’t being taught these days. I know for me, I like getting out and using tools and getting out from behind the computer and the camera and just reconnecting with the earth. So any chance that I get, I want to do that. I tend to consume content from people who are doing that because it’s inspiring to me. If you’re one of those people, you can create content around that.

If you look at what you can provide value by doing, that’s where you’re going to be able to grow your passive revenue stream. It doesn’t matter whether you’re blogging, YouTubing, creating an eBook, doing a course, whatever it is, all the different mechanisms for generating the passive income. Just be thinking about where you can add value. That’s where you’re going to find actual true growth and the ability to earn passive income from whatever different methods there are that are out there, which of course I’m going to talk about all of them and I have talked about some of them in the first video on this YouTube channel and on the blog.

I showed you my main passive income sources for the last year, and you can see all the numbers there. I posted screenshots so you’ll want to make sure to check those out as well. With that said, I think that as long as you go about it, trying to figure out where you can add value, and typically that’s going to come from somewhere that you have some additional knowledge, maybe a little bit more than the average person would have. All of us have that. All of us have something that we have been kind of a nerd in that area around, even if it’s not a nerdy thing. I like the phrase nerding out because there are a lot of things that I’ll nerd out on, even if they’re not typically like technology nerdy type of things.

If there’s something that you nerd out on, something that just really gets you excited and you have some additional knowledge in that area, that is a perfect example of something that would make for a good, passive revenue stream, if you can start creating content in that area. Make sure to subscribe to the YouTube channel because I’m talking about how to do this, how to do that, how to grow these things and how to come up with ideas, but I’m also going to be teaching how to create this content. How do you start blogging? How do you start creating videos? How do you do these things? That’s all part of the process and it’s all part of learning how to create passive income revenue streams.

Put in your email address so you can be notified when I put out new content. Because all of this stuff is going to help you get to the point where you are growing passive income revenue streams, having more control over your income and having to be less reliant, or maybe even completely free of the income that you’ve been just traditionally accustomed to, which is probably your job. With that said, thanks so much for checking out this video. Let me know what you think down in the comments section below and I’ll see you in the next one.

5 Things I Learned Building Passive Income Revenue Streams

Posted on by Jerad Hill

Hey, it’s Jerad with Practically Passive, and here are five things that I learned building a passive income revenue stream. Now, over the last couple of years I’ve been working at building passive income revenue streams for myself, because having that extra income just was really nice. I had things that I already enjoy doing, and I took that and went online with it. Whether it be mobile technology or photography, there are things that I liked to mess with, or learn about or teach. I took that and put it online, and I’ve been growing passive income revenue streams ever since with those. And of course, I’ve been trying really hard this year, as my goal in 2018, is to completely replace my income with passive income revenue streams.

Now I am more than halfway through the year and though I am not necessarily on track right now to completely replace my income, I am on track to exceed the median household income in the United States. The median household income in the United States is $62,000. That’s the average household income if you average out everybody in the United States. Of course, there’s a lot that are lower and there’s a lot that are higher, but that’s the median or the medium amount of income that a household will receive.

For the first six months of this year from January to the end of June, my passive income was just over $32,000. With that milestone having been made, I want to just hit the ground running even harder for the second half of this year, to try and make sure that I achieved my goal. Of course, what I’m doing here with Practically Passive, is sharing all of that process with you. Now, originally I was going to wait until this year was over before I shared anything, but as I’ve said with many things, there’s no better time to start than now.

Five things that I’ve learned while building passive income revenue streams

1. Passive isn’t really Passive:

I’ve known this because I’ve been doing it for a while. But there are a lot of people out there saying, build a passive revenue stream, so that you can go and lounge all the time and not have to do any work, or whatever. Maybe you read the Four Hour Work Week, and though there is definitely work talked about in that book, you focused more on the idea of traveling the world and doing all the fun things. So passive income definitely takes work.

The reason that it’s called passive income isn’t that it’s completely passive. There’s really no such thing in the world that’s completely passive. Everything takes some sort of action. And I’ve definitely learned that through this process of building passive income revenue streams, it takes time and it takes work, there’s effort involved and it takes dedication. And without those things, you’re unable to build a passive revenue stream. And, of course, you want to get to the point where you can step away from time to time and utilize that income, it takes time to build it to that. I, at times, have thought that it should be easier than it is, but it’s really not. It is challenging.

It takes time and effort, and there are way more people making next to nothing off of passive income. Or maybe they had a successful week or two, or something like that. But to say that they’re still making income off of something that they did a year ago, a year later, there aren’t a whole lot of people that can say that. To have a consistent passive income that is on par with the median household income of the United States, is definitely something that not many people achieve. I’ve learned that passive income revenue streams are not truly passive, because nothing in this world is truly passive. Even the decision to be passive is a decision that takes action. So with that said, passive isn’t passive.

2. Persistence Wins

Whenever I have been persistent and consistent, I am winning. I am producing content, I’m staying on top of things. I’m staying plugged into the industries that I’ve chosen to play in, and produce content for. When I am being persistent and staying on top of all of that stuff, my income increases. Sometimes when I step away or I’m not so persistent, it kind of decreases a little bit, but there’s still passive income that keeps me going all the way through. There might be that month where I don’t have any time to work on anything. For example, in July of this year, I lost an employee that really handled editing most of my videos and a lot of my stuff that went out, that had to do with my passive income revenue streams.

And so, in July and pretty much all of August, I really haven’t had a whole lot of time to work on that stuff, because I’ve had to pick up the slack with other work for my business. When I get those deposits throughout the month for the different passive income revenue streams that I have, it’s like, okay, I didn’t really do anything this month. I’m getting paid for work that I did a while ago. Why am I not putting all of my effort into that, so that those numbers can continue to increase? Because doing the work that I had to do during July and August to pick up the extra slack, was work that was active income. Where I get paid only for the work that’s being done, and then the job’s done and I have to move onto the next one. So persistence definitely wins, and it’s easy to get sidetracked. Because life happens, and everything else around us definitely is pulling at us at all times.

3. Choose Niche Topics

I have had a struggle trying to keep things niche for a while. I end up going down the path of talking about a large variety of things. There are all kind topics within the same industry. Maybe they’re all photography related things, but they’re not niche within photography. For example, with different brands of cameras. I use mostly Sony cameras right now, and so I ended up talking a lot more about Sony cameras than I used to with Canon cameras back in the day when I was shooting Canon. So that changes my audience. My audience consists of people that are mostly interested in Sony cameras now. So I have to really decide if I should niche down and focus only on Sony cameras, which is going to alienate all the other people out there that might want photography related news and information and education, that are not Sony shooters.

State of Tech is mostly about mobile technology. And I’ve talked a lot about iPhones, Android, Tablets, Windows computers, and Apple Computers, so I’ve kind of bounced all around in there. There’s been a little bit of something for everybody, but there hasn’t been a lot of something for a niche audience. So I need to figure that out. What I’ve found out is that, when I do focus more on a specific niche in that industry, I tend to get better traction. Because people sign on to stick around for more information as long as it remains relevant to them.

Otherwise, I’m just creating information that is informative and it’s consumed, but then they don’t subscribe, or they don’t sign up for more. They don’t stick around to watch more. Because they came for a video on some android phone topic, and then the next video after that was an iPhone, and they don’t have an iPhone. So they leave, they go somewhere else. You have to keep that path of their interest, and it has to be niche topics. Because most people are not carrying around an android phone, and an iPhone, and a windows pc and a Mac laptop. I mean, it’s just too disjointed there. So, whenever I niched down and focus on more of a specific topic, I’ve seen a lot more action there and growth in my passive income.

4. The Revenue is in the Value

You could put out content until you’re blue in the face. If there’s no value, you’re not going to have any passive revenue growth from it. The reason that my videos do as well, considering I don’t have a huge subscriber base on my youtube channels … so for example on my youtube channels, I make a pretty decent amount on State of Tech and Ditch Auto, considering the fact that both channels barely have more than 30,000 subscribers. Most channels that have 30,000 subscribers are making maybe a couple hundred dollars a month if they’re lucky. But I’m making thousands of dollars a month, because my video views are high. And the links that are in the description of those videos, for things that add value to whatever it is that’s being talked about in that video get clicked.

State of Tech YouTube Popular Videos

So, there’s a lot of value that I’m adding in my videos there, and that’s why I’m able to earn as much as I am based on having smaller followings. So the revenue is in the value. If you’re not providing any value, nobody is going to stick around for more content. Nobody is going to click on any links. Without that kind of action happening on your content, Google, YouTube, whatever platform it is, is not going to recommend it. And people aren’t going to recommend it to each other either. So make sure that you’re adding value. If you’re not adding value, you’re wasting your own time. You’re also wasting other people’s time. But you’re really wasting your time as well, because we should only be putting out what we find we can add value to. That’s why I’ve waited as long as I have, to start this blog and this youtube channel around passive income.

I didn’t want to start it until I knew that I could really add value. Over the years I’ve felt that I’ve kind of tuned in my added value BS sensor, I guess you could call it. Like, if I’m not adding value, I can sniff that out pretty quick. It’s why I’ve had such a struggle with doing podcasting and stuff like that is that, unless I’m adding value with that podcast or that blog, I’m not going to do it. I might be able to get away with it for like a week or two, but just that filter kicks in and it says, don’t. There’s no value there, or there isn’t enough value there, so don’t do it. You’re just going to be more noise, and I don’t want to be noise. I want to be value.

5. Income from Passive Income Revenue Streams Feels Better

I mean it does feel good when I get a check from a client after completing work. It’s like, “Ah, okay, I got that work done, I got the check.” But it’s a means to an end. And that means that that job ended, and I have to find another one. I have to find another client to do work for, and it’s a constant chase. But when I get those deposits throughout the month, every month from YouTube/AdSense, from Amazon, from the different affiliate programs that I have going, that just feels good. Because that was work that I did a while back, and I’m still paid for it, so it feels good. It feels like I’m getting appreciated for my work, because there’s ongoing pay there. It’s lasting longer, its legacy money. I really like that, and it feels better.

So if I just can continue to remind myself of that, because it’s easier to do a job for a client and get paid, because you get probably a bigger payment. Or when you go to work at the end of the two weeks or whatever, you get that paycheck. You know that, that’s coming. You know what to expect, because what you signed on for when you started the work, is what you get paid for at the end of the work. But with passive income, it’s building something and it’s a little more volatile at first. You’re not 100% sure how long it’s going to take in order for you to reach some sort of level of passive income, that can change your life. And for me, it has taken a little bit of time. I haven’t focused on it really that hard, compared to how hard I could focus on it. But it’s taken a few years to get it to that point.

Now if I really put my head down and focused, I feel that I could build something that would replace my income in six months. But I have to run a business at the same time. Most of us are going to have to work. We have responsibilities, we have families, bills and all of that stuff that we have to take care of. We can’t just shut everything down and go work on our passive income revenue streams, we have responsibilities. So, when I get those deposits throughout the month from my different passive income revenue streams, it just feels good to receive those. It feels good, because that’s income from work that I did that’s continuing to pay me. It’s not one time and done. It’s continued passive income. It’s not active, it’s passive, and I like that and it feels good.

It’s Time For You To Get Started!

So those are the five things that I’ve learned over the years of building passive income revenue streams. If I could just commit to remembering those things daily, it definitely will alter my priorities for the day, and put them more towards working on my passive revenue streams. So let me know what you think down in the comment section below. If you’re watching this on YouTube, click that subscribe button so that you can be notified when I put out new videos. Make sure to put your email address in the subscribe box here so you can be notified when new content goes up, whether it’d be blogs or videos. I want to make sure that you’re getting notified. Because I’m putting out stuff every day during this month, and I want to make sure that you’re notified so that you can chime in, and share your thoughts. Be a part of this movement along with me, to gain more freedom in our income.

Thanks so much and I hope to see you back in the next one.

30-Day Passive Income Video/Blog Challenge

Posted on by Jerad Hill

Hey, what’s up? It’s Jerad with Practically Passive, and I wanted to talk to you today about my 30-day challenge to create content every single day for the next 30 days. Now, I uploaded my first video to the new YouTube channel and to my new blog and also posted it in a couple of other places online.

Now, why would I want to do that? First of all, this is a brand new property. Practicallypassive.com is a brand new domain name, a new YouTube channel, new social media, so part of the challenge is wanting to see if I could build something from nothing and what it would take to get it to a decent place within 30 days. What kind of work is that going to take?

I’ve been working at building my passive income revenue streams for a few years now and really been taking it more seriously over the last year, but what if you were to start from nothing with a new property? I don’t really have a plan to try and earn passive income from this passive income blog that I’m creating and from this content. My goal here is to give as much away as I can for free without having to charge. If not, potentially being able to give all of it away for free because I believe that all of us deserve some additional control in our life, especially when it comes to our income because our income does really control the majority of our lives if we allow it to.

The goal is to get as much of this content out for free if not all of it without having to charge for anything. But we’ll see. I’m going to be completely transparent along the way with everybody, talking and showcasing as much as I can about what I’m doing so that way you know what it takes to actually become profitable to build a passive income revenue stream. Those are the things that I want to teach and get across in all of this content that I’m putting out. Unlike most people in this space, I have passive income revenue streams already, so I don’t have to rely on selling things to you to make money.

The 30-day challenge is to give it a good kickstart, a good jumpstart to building that content, to having a good library of information that’s there. I have a lot of stuff that I’ve been doing and learning about over the last several years, and I feel that I have 30 days worth of content that I could put out there, and with that 30 days of content, it will, of course, help grow this new website and hopefully help you get started as well. I want to see how hard it is to actually rank in Google page one for a couple of these blogs. I know it’s going to be really hard for me to rank for “passive income” as a search term, but perhaps maybe some of the blogs that I end up publishing, some of the content I might end up being able to rank on page one.

This is a challenge for me. I want to see if I can achieve that in 30 days because if I can achieve it while doing all of the other things that I’m doing, then I know all of you can as well. All of this is in the name of learning, it’s in the name of sharing and putting out content so that we can all grow and learn from each other. This is a learning experience for me as well because even when I’m sharing and offering something to other people, I want to be learning at the same time. If I’m not learning in the process, then it doesn’t make sense to me. It doesn’t add value to anybody if there isn’t learning going on that goes both directions.

At the end of the 30 days, I’ll be measuring the traffic that the websites received, email signups for people that want to be notified when I put out new content, YouTube video views, and subscriptions. I’ll probably try and do a little bit of stuff on social media, but I don’t know how much time I’m going to have to put into that because social media definitely can take a lot more time, than doing what I’m already doing.

I’m definitely going to attempt to try and rank on page one for a couple of things. I don’t know if that’s going to be possible. I know it’s very challenging. Based on my SEO experience I know that some of the things that matter to Google search are how long a website has been around. It also is inbound links coming from other websites. There’s authority, there’s a lot of different things that are important for the search engines to rank. I’m going to do everything that I possibly can because if I can attempt and achieve ranking, relatively decent ranking in Google search for something like passive income, not passive income itself, but some aspects of passive income, then that’s another thing that I’m able to help all of you as you go and try to build your own passive revenue streams is how to rank in Google search because people are searching for problems that they need answers to, and we need our websites to show up.

You’re going to be solving problems, answering questions, reviewing, doing all these different things, and you need the Google to show the people. That’s where ranking comes into play.

I’m not selling anything here, as I said. This is all free content. I’m going to do my best to make everything that I put out here free. I don’t want to charge for anything if I dot have to. I’m building my passive income streams through my other channels, which I am showing all of you as examples here. My goal is to give as much away of this as I can for free.

Only when I feel like I have something groundbreaking that is just not available anywhere else, something that is foolproof and proven to work, then I might put together a course or something like that, but there’s a lot of people out there shouting, “How to make $4,000 this month,” “How to do this,” “How to do that,” and they make it sound like it’s something that you can achieve over night, and it really isn’t. That’s why I want to put out as much as I can for free so that you can see that I’m willing to put in the work just as you will need to put in the work to build passive income streams as well.

This challenge is just as much of a challenge for myself because I have a lot of things that I want to achieve here, but also a challenge to give back because, as I’ve said many times on the Internet through blogs and other videos and stuff is that I learned everything that I have learned, or every bit of information that’ve put to work has been learned through experience. That experience has either come by trial and error, trying something for the first time by myself without any additional information, or from consuming information online and learning how to do it, and then going and doing it myself.

There’s a lot of information that I’ve consumed out there, and I’m constantly wanting to be putting information back to fill the gaps and to add to what I’ve already taken because that’s what the Internet is. It’s a place where we give and we receive, and if I can keep giving, I’m going to keep giving as long as possible.

I hope that you find this interesting. If you do and you want to follow along, make sure to go over to put in your email address in the subscribe box. I will be sending out updates and letting you know the progress along the way. You’ll get my blogs that I’m putting out, the videos that I’m putting out. That way, you don’t have to come back and check all the time and see what’s new. You can just get notified and see if what I’m posting is interesting, and then you can check it out. Definitely go and do that!

On YouTube, make sure to click that Subscribe button because subscribing to the channel here on YouTube will get you notified when I put out new videos. There are also some goals that I have for YouTube, which are going to require subscriptions and watch time. Those are two metrics that I want to achieve within the first 30 days is a thousand subscribers to the YouTube channel and 4,000 watch hours.

Those are two requirements to monetize your YouTube channel with ads. YouTube’s going to show ads regardless on a video, and I want to be compensated for those, like my other channels on YouTube have monetization and an ad will play unless you have YouTube Premium, which then an ad won’t play. But I want to get to that level and be able to showcase the fact that I was able to attain that within 30 days because most people when YouTube announced those new rules at the beginning of 2018 were like, “It’s going to be impossible monetize. We’re never going to be able to create and get paid on YouTube,” because a thousand subscribers and 4,000 watch hours is an impossible amount to reach.

It takes a lot of time, and so my goal is to try and reach that within 30 days. I’m going to need your help by clicking that Subscribe button and making sure to watch through the videos all the way so all those minutes count towards the 4,000 hours of watch time that I need by the end of the month.

It sounds like a tall order, but they’re goals that I’m setting, and I’m dead set to achieve them within the next 30 days. I’ll be sure to make a video on the 30th day showcasing what’s happened, whether I’m at that goal or didn’t, what I could’ve done better, and how I can improve moving forward. Thanks so much for checking out this blog.

May 2018 Passive Income Report

Posted on by Jerad Hill

Welcome to my Passive Income report for May 2018. I am excited to report growth in May and am looking forward to June. May was a busy month personally, so I didn’t get to spend as much time on growing passive income streams as I would like, but it is nice to see that growth can still happen if I continue to produce more content that has value.

I am realizing that I need to increase the production value of my YouTube videos. The content is great, but the production value is just lazy. Other creators are stepping up their production quite a bit. People are expecting more out of the videos they watch. I need to focus more on producing an all around great video rather than just trying to get something out in a timely manner.

Traffic to my websites saw a boost in May, but I need to be more consistent with creating content there as well. Having videos transcribed has helped quite a bit with search engine ranking but a direct transcription of a video is not providing the best experience for those who land on this written content. I need to take my videos and turn them into a well-organized article with quality photography when necessary.

It’s hard to do all things well. That is why most people focus on only doing one or two things to the best of their ability. I have never been that way. I want to do all things and do them to the best of my ability, but I know that to be near impossible. I give myself eight hours each day to work and I don’t work weekends. I either need more manpower or I need to scale back in a few areas. I guess I have some thinking to do over the next few weeks.

Going into June, I have a lot on my calendar in regards to family time. We have something scheduled each weekend through the end of summer with family events and other short trips scattered throughout June and July. It is going to be hard to focus on Passive Income Growth so I will take time when I can find it to create. Summer is a prime example of why I am doing this. I will have extra income in June and July because I have done this work. Passive Income is providing more freedom for me this year than I had last year, and that was the goal. I am getting closer to replacing my families income needs and feel 100% confident that I will be able to pull that off well before the end of this year.

Later this year I will bottle up everything I learned growing my Passive Income (Side Income) from a few hundred dollars to what it is now in under a years time. People ask me about these monthly Passive Income Reports all of the time. I know there is a huge need for education on building passive income streams from someone who actually has proof they are doing it.

Make sure to subscribe to my YouTube channel to follow along as I continue to explore new ways to grow my personal income.

May 2018 Side Income Total – $4,698.92 (+17.33%)

YouTube

  • StateOfTech – $1,378.28 (+39.55%) Subscribers: 31,567 (+5.57%) Watch Time: 1,507,912 Minutes (+28.93%)
    We have released a lot of videos over the last few months and the numbers are reflecting that. We broke through the 30,000 subscriber mark as well. This is a huge milestone and has given me a fierce desire to grow this channel. I still feel that I need to narrow down the topics a bit to appeal more to a specific audience. With over 1.5 million minutes consumed each month, we should be growing at a subscriber rate greater than 5%.
  • Ditch Auto – $522.90 (+24.78%) Subscribers: 27,311 (+5.30%) Watch Time: 904,417 Minutes (+11.14%)
    I was able to get a few new videos live this month. I am looking more into affiliate programs in the photography space to grow revenues and seek out new opportunities. A video I did for a Peak Designs Camera Bag brought in over $175 in affiliate commission. Over the next few months, I am going to try to bring on a few more affiliate programs for products I believe in.
  • Jerad Hill – $57.64 (+27.72%) Subscribers: 5302 (+0.34%) Watch Time: 40,005 Minutes (+7.53%)
    I didn’t upload as much in May to this channel as I have in the previous few months, but the transcriptions of the videos I have been posting have been helping grow traffic to my blog, which has these videos embedded. My income reports have also been getting talked about a bit which has resulted in more views and subscribers. Looking forward to growing this channel as I would love to catch up to State of Tech and Ditch Auto.
  • AltCast – $0 (0%) Subscribers: 1,718 (+3.99%) Watch Time: 34,106 Minutes (+4.51%)
    AltCast is a new channel started in January 2018 with a focus on Cryptocurrency Mining. I am not sure what I want to do with this channel. I have not been doing much with Cryptocurrency Mining over the last few months other than just making sure my mining rigs continue to run. I sold off some of the hardware so I only have two rigs left. I think I am going to need to pivot and come up with another topic for this channel in order to keep moving forward with it.

Amazon Affiliate

  • Amazon Product Links – $804.83 (-4.28%)
    This last month I have been publishing a lot of informational content rather than product reviews which is where most of my Amazon revenue comes from. I need to start doing a better job representing products in my videos without the video having to be a review for an exact product.
    Want to show me some love on Amazon? Use this link the next time you go to purchase something on Amazon.

Google Adsense

  • Google Adsense links/display – $42.10 (+42.9%)
    As I mentioned last month, I have been publishing more content on the two sites I monetize with Adsense. This shows up in the numbers. Though it is only $42, that also represents a huge bump in traffic to these websites. In order for adsense revenue to almost double, traffic to the site had to almost double. I am glad to see some forward momentum after how the last several months have been.
    Sites with Adsense Integration: StateOfTech.Net, DitchAuto.Com

Jerad’s Courses

  • Paid courses on Jerad.Courses – $49.00 (-50%)
    The Mining Rig Course is definitely not producing like it did for the first three months of this year. On this site alone, that course produced just over $3,300 in income. Not too bad, but I was hoping for more. I should have more aggressively marketed that course while the interest in mining was still high.

Udemy.Com

  • Paid courses on Udemy – $163.17 (+32.97%)
    Just like with my personal course site, the revenue has bottomed out here on Udemy. To date, the Mining course has brought in just over $2,300 on Udemy.

Other Income

  • Other monthly revenue streams from side work – $1,681.00 (+14.98%)
    Over the last few months, I have started to build content for a few small affiliate programs that will eventually become their own category in this income report. The affiliate programs are for products I have reviewed or produced other content for. In the next few months, I will break apart this category a bit to further explain what it is made up of.

Investments

I didn’t touch my investments this month. My stock holdings in the Robinhood app grew at a decent rate but my cryptocurrency holdings decreased a bit after last months rebound. Nobody knows where Crypto is going. I know it is not going away, but it’s hard to tell where it will go in regards to value over the following months. My plan with Crypto was to hold on to what I had (HODL) and wait for it to recover. My investment strategy is a long game here.

  • Stocks (Robinhood) – Holdings: $10,402.92 (+13.24%)
    Continuing to see good growth here. I did not put any money in this month so the improvement here is all market growth. Hopefully next month I can throw in an extra $500-$1,000 to purchase more stock. There were a few stocks that bottomed out in early May that I wish I had the extra money to buy as they saw a solid rebound in May. I need to make sure I have money set aside for opportunities I see like this.
  • Cryptocurrency – Holdings: $6,033.52 (-9.92%)
    Last month I was happy to see things rebound a bit. There was not a lot of excitement here in May. I did sell off some of the GPUs from one of my Ethereum Mining Rigs and stopped mining ZCash altogether. I am continuing to mine with 375mh/s of power going to Ethereum.
    If you want to get started investing in Cryptocurrency, I suggest joining Coinbase. You can buy and sell Bitcoin, Ethereum, Bitcoin Cash, and Litecoin currently.

May was a pretty good month. All of these revenue streams continue to grow organically. I have not partnered with anyone or attempted to collaborate with other creators yet. I feel that this is one of the next areas of growth for me. There are opportunities for growth in these partnerships. I have used my location as an excuse and I need to stop there. There are creators near me, I just need to find them and partner with the ones who make sense.

Thanks for coming along. If you have any questions, please ask them in the comments section below.

 

May 2018 Passive Income Report Jerad Hill May 2018 Passive Income Report Jerad Hill

April 2018 Passive Income Report

Posted on by Jerad Hill

Welcome to my Passive Income report for April 2018. April was a month of reflection as I looked back over everything I have been doing over the past five months since I really started getting serious about replacing my regular income with passive income. Looking into how I have been spending my time revealed to me a few things which I will discuss here and explain how I plan to fix them.

The big elephant in the room is the topic of cryptocurrency. There were some huge opportunities for me in the crypto space which I took advantage of, but they were short-lived, kind-of. Though my cryptocurrency holdings are recovering well (see below), mining with the current equipment I have is getting more challenging. Though crypto pricing is back up to around where it was in early December of last year, the difficulty to mine has increased quite a bit. With that said, I am still able to turn a profit due to having paid off my mining rigs so quickly. With my current set up, I can still mine $1,500 US worth of crypto in a month. My electricity costs are about $400/mo so that puts me at a profit of $1,100 per month.

The mining rigs do not take much to keep up but with summer approaching, I have some big decisions to make with where they are currently running from. I need a proper cooling system to keep the rigs and the room temperature down. I estimate that increasing my electricity costs substantially right away. Last summer in Modesto, CA we had over three months of 95+ degree temperatures. It was 84 degrees out the other day and the room temperature near the rigs was 112 degrees. So in regards to cryptocurrency mining, I need to look at my options. I will explain more in my next Mining Update video on the State of Tech AltCast YouTube channel. What I really need is a solar solution.

Another source of income over the past few months has been my How to build a Mining Rig Course. With the crypto pricing correction and the crazy prices of mining hardware, the interest in mining has gone way down as well.

I have been putting out a lot of videos but this is the time of year where most will see a slight dip in their average view counts anyway. YouTube has been making a lot of changes to their suggestion algorithm which has helped some of my videos while at the same time hurting others. This is an ever-changing process toward growth.

This is why I am doing all of this on the side while keeping my core focus on Hill Media Group. I have learned a lot over the past six months, especially in the cryptocurrency world. I would not trade that new knowledge for anything. I’m still making money.

Make sure to subscribe to my YouTube channel to follow along as I continue to explore new ways to grow my personal income.

April 2018 Side Income Total – $4,004.92 (-18.2%)

YouTube

  • StateOfTech – $987.69 (-11.76%) Subscribers: 29,902 (+0.44%) Watch Time: 1,116,955 Minutes (-4.53%)
    This YouTube channel is part mobile technology review videos and part tech tutorial videos. After a huge month of new content last month, April slowed a bit which brought me back to normal. Each month I am getting better at determining what content this audience wants.
  • Ditch Auto – $419.07 (-4.93%) Subscribers: 25,935 (+4.64) Watch Time: 813,763 Minutes (-1.67%)
    Ditch Auto is a YouTube channel around the topic of Photography. I added a few videos in April but have not had much time to do more than review a few products. The product review videos do not do as well for YouTube growth as educational videos.
  • Jerad Hill – $45.13 (+5.27%) Subscribers: 5214 (+0.12%) Watch Time: 37,249 Minutes (+10.65%)
    This is my personal channel. I started uploading more content this month but am having trouble with it being found. This channel is so old and has been unused so many times. I am starting to see very slow growth here. Trying to figure out my voice and what topics are best for me to focus on.
  • AltCast – $0 (0%) Subscribers: 1562 (+8%) Watch Time: 32,634 Minutes (-49.59%)
    AltCast is a new channel started in January 2018 with a focus on Cryptocurrency Mining. Growth is slow here due to the decrease in interest in mining Cryptocurrency. I still need to reach 250,000 watch minutes in order to monetize this channel. I am currently at around 185,000. I feel like I will need to pivot here in order to regain growth and bring this channel to monetization.

Amazon Affiliate

  • Amazon Product Links – $840.86 (-13.52%)
    Nothing really new to report here except that I am playing around with my own redirect links to Amazon so I could more easily fix links when a product on Amazon goes out of stock. Want to show me some love on Amazon? Use this link the next time you go to purchase something on Amazon.

Google Adsense

  • Google Adsense links/display – $29.46 (+6.7%)
    I may finally have seen the bottom of the drop from Google’s Algorithm change earlier this year. I have been posting some of my videos on my websites with short articles which could also be helping. Next months report should show some additional growth here as well because I have been having some of my videos transcribed and that should help with SEO. Will be interesting to see if there was any value in doing that work.
    Sites with Adsense Integration: StateOfTech.Net, DitchAuto.Com

Jerad’s Courses

  • Paid courses on Jerad.Courses – $98.00 (-84.61%)
    The Mining Rig Course is definitely not producing like it did for the first three months of this year. On this site alone, that course produced just over $3,200 in income. Not too bad, but I was hoping for more. I should have more aggressively marketed that course while the interest in mining was still high.

Udemy.Com

  • Paid courses on Udemy – $122.71 (-63.43%)
    Just like with my personal course site, the revenue has dropped a bit on Udemy. To date, the Mining course has brought in just over $2,200 on Udemy.

Other Income

  • Other monthly revenue streams from side work – $1462.00 (+10.62%)
    I am almost back to where things were before in this category. I am not selling mining hardware anymore. This category consists of passive income that comes in from various other past projects and content that I no longer work on growing.

Investments

I was right about last month being the bottom. Things have started to recover as you can see in my holdings below. I put an additional $500.00 into stocks with Robinhood but the rest of the growth was due to stocks recovering value. Crypto has recovered nicely with almost a 100% recovery over last month. I have not put any additional money into cryptocurrency but I have continued to mine crypto through the entire month of April. My plan with Crypto was to hold on to what I had (HODL) and wait for it to recover. My investment strategy is a long game here.

  • Stocks (Robinhood) – Holdings: $9,186.30 (+23.21%)
    As I mentioned above, I put $500 into stocks this month and saw some recovery on some other stocks I had that dropped last month. This month I am up and it looks like that will continue into May.
  • Cryptocurrency – Holdings: $6,698.15 (+92.36%)
    I was right about March being the bottom. As you can see, my crypto holdings are recovering at a nice pace. I am continuing to mine with 720mh/s of power going to Ethereum and 3,200 sols/s going to ZCash.
    If you want to get started investing in Cryptocurrency, I suggest joining Coinbase. You can buy and sell Bitcoin, Ethereum, Bitcoin Cash, and Litecoin currently.

April was a mixed bag. I still need to figure out a good flow for content release so my audiences know what to expect from me. I need to work on a path that I hope to guide them through. I really need to get serious about updating some of my older courses and producing some premium content for my students as well.

I am considering doing more than just reporting monthly on my progress. I have received a lot of questions from people who want to know more about what I am doing. In a perfect world, I would be producing videos a couple of times each week on this, but that just isn’t sustainable at this time. Maybe a thought for the future.

Thanks for coming along. If you have any questions, please ask them in the comments section below.

April 2018 Passive Income Report

March 2018 Passive Income Report

Posted on by Jerad Hill

March was an interesting month. We had a lot of Hill Media Group projects coming to a close so I focused on creating content. I put out a ton of videos in March and that shows in the numbers you see below. There are still a few passive income areas that finished correcting back to where they would normally be after the holidays and post-holiday sales.

I changed the name of this report from Side Income to Passive Income. The idea is that the income will grow into something that could become my main focus. Calling it side income makes it seem like something I don’t spend much time working on. The goal is to grow passive income streams that continue to pay me over time. As I continue to feed those passive income streams, that income will continue to grow and become an income source that will pay me even if I decide to take a month or two off on occasion.

With the large boost in content production, I am interested to see where Amazon Affiliate sales will go next month in April. Sometimes it can take some time before the increase in content and views result in more affiliate sales.

I still feel confident with how things are going so far in 2018. I have not had the motivation I had at the beginning of the year. I know that I need to get back to it and work on creating a new course. Hopefully, I can make more forward movement in April.

Make sure to subscribe to my YouTube channel to follow along as I continue to explore new ways to grow my personal income.

March 2018 Side Income Total – $4,895.51 (-9.5%)

YouTube

  • StateOfTech – $1,119.39 (+27.31%) Subscribers: 29,771 (+4.57%) Watch Time: 1,169,902 Minutes (+5.31%)
    This YouTube channel is part mobile technology review videos and part tech tutorial videos. I added a lot of video content in March which is represented in the growth see this month.
  • Ditch Auto – $440.79 (+32.12%) Subscribers: 24,785 (+5.31) Watch Time: 827,560 Minutes (+17.57%)
    My photography channel continues to lack content. I have not had time to put anything together for Ditch Auto. I started the monthly photo challenge but have not had the time to work on additional content and have not focused on any other photography content. This needs to change.
  • Jerad Hill – $42.87 (+9.02%) Subscribers: 5214 (+0.12%) Watch Time: 37,249 Minutes (+10.65%)
    This is my personal channel. I started uploading more content this month but am having trouble with it being found. This channel is so old and has been unused so many times. I think it is going to take a lot of content and consistency to get it to bounce back.
  • AltCast – $0 (0%) Subscribers: 1446 (+23.59%) Watch Time: 64,733 Minutes (+23.03%)
    AltCast is a new channel started January 2018 with a focus on Cryptocurrency Mining. I have seen a lot of growth here due to a give-a-way that was pretty successful. I still need to reach 250,000 watch minutes in order to monetize this channel. I am currently at around 155,000.

Amazon Affiliate

  • Amazon Product Links – $972.33 (+13.69%)
    The Cryptocurrency buzz has died down for sure but the new content produced for State of Tech has helped drive more affiliate sales this month. Ditch Auto is still going strong but I have not added new content. This month I also started posting videos on the website as well with a short write up and product affiliate links. I am hoping to see some growth in traffic to the websites as well.

Google Adsense

  • Google Adsense links/display – $27.61 (-44.39%)
    Google made a pretty sizeable algorithm change in January which put the hurt on one of my sites. As I mentioned above, I have started posting video content to my websites with small articles to work toward growing traffic back up on these sites.
    Sites with Adsense Integration: StateOfTech.Net, DitchAuto.Com

Jerad’s Courses

  • Paid courses on Jerad.Courses – $637.00 (-18.75%)
    The Mining Rig course still continues to provide some income, though it is slowing down quite a bit. I need to produce a new course to help replace that income.

Udemy.Com

  • Paid courses on Udemy – $335.52 (-46.22%)
    Just like with my personal course site, the revenue has dropped a bit on Udemy. I messed around with Udemy’s marketing a bit and allowed Udemy to set sale pricing on my course. This led to more sales, but less revenue overall.

Other Income

  • Other monthly revenue streams from side work – $1320.00 (-28.65%)
    I am almost back to where things were before in this category. I am not selling mining hardware anymore. This category consists of passive income that comes in from various other past projects and content that I no longer work on growing.

Investments

This was a rough month for my investment holdings in these two spaces. I didn’t put any money or even really pay much attention to my stocks in the Robinhood app so I lost a little bit there. Cryptocurrency continued to get hammered but I believe this is the bottom. My plan with Crypto was to hold on to what I had (HODL) and wait for it to recover. My investment strategy is a long game here.

  • Stocks (Robinhood) – Holdings: $7,455.90 (-2.22%)
    In April I plan to start focusing on my stocks again. Hope to see some growth here and will also put more money in.
  • Cryptocurrency – Holdings: $3,482.12 (-36.66%)
    Crypto has been hit hard this month and continues to take hits into April. I am still mining which contributes to growth in my holdings but I have lost a good portion of value from when it was at an all-time high in early January. I decided not to buy any Crypto in March. I will wait a bit longer to see what happens in April. If you want to get started investing in Cryptocurrency, I suggest joining Coinbase. You can buy and sell Bitcoin, Ethereum, Bitcoin Cash, and Litecoin currently.

March was a good month for YouTube growth. My main focus was producing videos and we put out a lot of videos during this month which is why there was so much growth in this space. I find that it is too easy to work on things that do not contribute to passive income growth. I have to remember what the goal is and continue to work on what will get me there.

Thanks for coming along. If you have any questions, please ask them in the comments section below.

March 2018 Passive Income Report

5 Ways to Make $1,000 By Next Week

Posted on by Jerad Hill

Since I started publishing my passive income statements, people have been asking me how they can get started making money online. There are a lot of ways to make money online, but if you wanted to get started fast and are ambitious enough, these 5 tips on how to make $1,000 by next week could help you out.

I originally created this as a video, but have since restructured my YouTube channel. I converted the video into an article for you to read. Please let me know if you have any questions about it.

What are your thoughts? Have an idea or something to share? Post it in the comments!

Video Transcript:

Hey it’s Jerad and I have kind of a continuation on the whole like entrepreneurial freelance topics that I’ve been kind of posting videos on lately, and that is how to make $1,000 by next week. Now, sometimes we get in a pinch where we need some extra finances, some extra money or we lose a job or something comes up unexpected and we need to earn a little bit of extra money. Now, typically when that happens we kind of get into this hustle mode where we want to do anything and do everything to try and make some extra money.

But for those who haven’t had to actually go out and try and do that on their own, perhaps maybe you’ve just had a normal job for a long time, it can be kind of daunting because you haven’t had to do this before. You typically go to work and you get handed tasks and those tasks you achieve and then you get paid at the end of the week or the next week or something like that. So, when you actually have to kind of take matters into your own hands and seek out opportunities, it becomes a little daunting. And so I wanted to give you some tips on how you could get started and potentially even earn $1,000 or more within the next week depending on how hard you feel like hustling.

1. Post Your Skills on Fiverr.com

So the first thing is something you can do from home, it’s simply going on this website called fiverr.com, which is Fiverr, F-I-V-E-R-R.com, and if you have some skills that could be put to use there, you can get paid anywhere from five dollars on up for those skills depending on what they are. So they have topics such as graphic design, writing, music and audio, fun, lifestyle, they’ve got lots of different things that are on here, social media. Things that you can do easily but probably you already have some experience in and people will pay you as little as $5 and on up depending on the experience that you have and what you’re able to bring to the table.

For example, say you have an iPhone or like a phone with a decent camera on it, you can provide services like shooting a video for them, a product video or shooting a testimonial video or an explainer video on how to do something. You can create content that they could put on their website. You can write, you can offer your services as a writer even if you’re not a professional writer but just somebody who can do a decent job at writing, and you can write things for people. Write product reviews, write content for their website, there’s lots of things that you can do. Go over to fiverr.com and check that out, I’ve got a link for you in the description below so that you can check that out.

It’s definitely a way … I mean, if you’re doing $5 a job, $5 a job, you’re going to need a lot of jobs, but some of these you can add upgrades or add-ons to this where that $5 job becomes a $30 job or something like that. If most of the jobs are averaging around $30, that’s definitely going to make the path to $1,000 much shorter.

2. Make Money with Photography

The second is photography and I talked really briefly on Fiverr, the topic of Fiverr about that but photography. Most of us have smartphones that take pretty good images and we don’t have to necessarily be a professional photographer these days to take decent photos that people can use. Now, realtors and investors and there’s all sorts of different companies that are looking for photos of properties or things that are outside that they need for either their websites to sell or whatnot, you could call your local real estate office and say hey, I’m looking to take some pictures of properties, I have time available today, are there any properties that you need photos for.

Maybe they just got off the phone with their photographer who’s two weeks out or something like that and they need photos taken right away. If you have a modern phone, you can take some pictures for them and charge them a couple hundred dollars for your time and just deliver them the photos. Most of the realtors are taking photos on their smart phones but aren’t really that good at it, you can practice a little bit taking photos of your own home or your own property and go out and offer this for them. If you have a camera that’s better than an iPhone or something like that, like a DSLR camera, you’re even one step closer to making that $1,000 because the better the equipment that you have, you could probably charge a little bit more. Because, if you say, I’m going to use my cell phone to take pictures but don’t worry I take good pictures, here are some examples, you’re not going to get to charge as much as somebody who has a professional DSLR. So you’ll have to price yourself somewhere in there reasonably.

You can offer $50, tell the realtors look, I’ll go out and I’ll shoot photos of the home for you for $50 and if you don’t like them, then you don’t have to pay me, but if you do like them, I’d sure love to shoot more properties for you over the next week. And that can add up really quick and you can even say the next one I want to charge $80 or $100 to go and get photos. And there are YouTube videos talking about how to shoot real estate photography. You can pretty much figure out how to shoot anything as far as photography goes by watching a couple of YouTube videos. So don’t be afraid to kind of put yourself out there and think about the different ways that you can be shooting photos, maybe product photos. You can call a local business such as like a consignment store or a thrift store and say hey, I’d love to come in and take a lot of photos of the stuff that you offer for sale and help you get them up on your Facebook page.

There are so many ways that you can use photography even if all you have as a smartphone so that you can get paid and help these companies, these businesses around the area get more exposure for their stuff. A lot of these people, these business owners just don’t think about it, they don’t think that they can afford it or whatnot. But because you’re trying to kind of get in at a lower price and kind of get started, you can offer them something that’s affordable to them.

3. Do Work for Family and Friends

Number three is probably the best option here, which is to ask family and friends. You never know what somebody has a need for and a lot of times people only associate what they know about you as something that you can do. So say, for example, you are a teacher and it’s the summertime and you want to earn a little bit extra money during the summer, most people just think of you as a teacher. They don’t think that maybe how to take decent photos with your smartphone so you can take photos for them or maybe there’s some other thing that how to do. Maybe you’re good at woodworking or you’re a little bit younger and you have some good labor left in you, and you can go and do some work on yard for them.

There’s a lot of things that you can do that most people might not know that you’re capable of doing and they aren’t going to know unless you ask them or you tell them. You can ask your friends, family, neighbors, co-workers, other people that are around, post it to social media and ask and say hey, does anybody have any projects that they need help with. Do you need work done on this or that or whatnot and see what people have to say, and then you could say hey, I can help with that. Most people aren’t going to have enough work for you to like pay you 40 hours a week and that’s okay. If they have five hours of work for you or even just two hours of work for you, and they pay you 20 or $30 an hour because it’s short-term work, which means you can typically get paid more hourly for that because it’s a short-term project. And you can price per project not the hourly.

So, if you say, that’s going to take about two hours, why don’t you pay me 50 bucks. That’s $25 an hour and if somebody that becomes valuable to them, it would have taken them many more hours to do it themselves or to do it by themselves, it’s going to be worth at 50 bucks. Think about pricing based on the project that they have not necessarily on hourly. Because if minimum wages in your area is say like $10 or $12 or $13 an hour, and you say well, just pay me minimum wage, you’re going to be working pretty hard for a short period of time. So think about charging based on the project or whatever the job is, not based on the amount of time. Of course, the time and everything in the project is part of that but think about saying like I’ll do that for $50 instead of saying, that’s $2 or that’s 2 hours and say $15 an hour that’s 30 bucks, you just made $20 extra by making it a project fee instead.

4. Find jobs on Craigslist or Facebook

Number four is answering and doing odd jobs found on like classifieds or Craigslist. There’s a whole section on Craigslist where people post needs for certain jobs. I’ve read into a lot of them and some of them are kind of weird but you can definitely find something interesting too there. There are companies that need people to sit in on focus groups and stuff like that, there’s lots of opportunities for things there that you could find on Craigslist or perhaps in the classified section of your local newspaper.

People post short-term jobs, I remember this was huge when I was younger. When I was a teenager, I would look in the classifieds for any jobs that somebody might have there temporary and that’s how I ended up starting to go and mow yards and do yard work for people when I was 12 years old. I was going all over the neighborhoods with the lawn mower, pushing it up and down the street mowing lawns and all that stuff making money as a 12-year-old, and it’s definitely something that you can do as an adult to make some extra money especially if you already have the equipment. But of course be careful because who knows what people are posting, you want to make sure you don’t get yourself into a dangerous situation. Make sure to kind of vet whatever job that is before you just randomly show up by yourself. You want to be safe.

5. Drive for Uber, Lyft, or DoorDash

Number five is to do Uber or Lyft. A lot of people have been doing this in making extra money and there’s a lot of conflicting information out there as to whether people are actually making money doing this or if they’re actually just wearing out their vehicle, and in making money in the moment but their vehicle’s going to wear out sooner. I think that it really depends on where you’re located. If you live in a small town and you’re going to Uber and Lyft around there, you might not make much money because people aren’t traveling too far, they’re maybe just going to and from work. It’s not a very busy area so the rate in which you’re getting paid for your time is not very high.

But if you live near a bigger town or city where there is a airport and there’s bigger companies there, for example, I live in the Central Valley, California and San Francisco is about an hour and a half away, San Jose about the same. If you go into one of those areas, you can earn a lot more and get a lot more rides and that makes it worth it. The area is smaller but it’s busier, which means not nearly as much wear and tear on your vehicle as maybe being in a smaller town where your rides are longer. You’re going to get a lot more rides in a shorter period of time and then of course those airport rides and some of those rides that may end up taking them from one bigger city to another bigger city is going to result in a bigger pay for the right as well.

Of course there’s a little bit of time involved in getting approved and all that stuff but those are things you can almost get done in the matter of a day or two if you’re very vigilant. And going down and getting your vehicle inspected, signing up through the Uber or Lyft app or even both and going down and getting that taken care of. I know that there’s typically like a $30 or so fee for getting your vehicle inspected but I know from the experience of people that are really close to me, that you can go and make 4 or $500 in a day if you live near a big area and are okay with driving non-stop for pretty much eight hours in a day. But that’s a way to make money and they’ll pay you out next to the same day and you can get paid really quickly. Yeah, it’s some wear and tear on your vehicle but if you put away a little bit of that every time you go out and drive, you’re going to have money there for repairs or upgrades to your vehicle later on as you need.

So that’s five ways that you can make a thousand dollars by next week. When you get in a pinch, definitely don’t sit on your hands, be proactive, do something about it and you’ll have the opportunity to go and make a little bit of side income. You might find something that you actually enjoy doing and can do over the long haul and that would start to alleviate the stress of putting all of your financial burdens on one job. Spreading that out across a couple of jobs sometimes makes it easier and makes those financial goals of yours more attainable.

Let me know what you think down in the comment section below. Are these valid, have you tried some of these, what are your tips if you have maybe that other people can learn from. Share that down in the comment section below, I’d love to hear those and also see what everybody else is doing out there to earn extra money. Please consider subscribing to my newsletter. Thanks again and I hope to see you back soon.