Warren Buffet once said, “If you don’t find a way to make money in your sleep, then you will work until you die.”
That is why my fellow freedom fighters I have compiled a list of 7 different ways to make passive income online.
Before everything else, there are two things that you need to make sure that you have before you could actually get into the passive income platform:
- The ability to build a long-term relationship with an audience so you can sell them stuff;
- Having a product to sell either physical or digital
Once you have those two “cornerstones”, you can now begin with the seven ways. Here they are!
#1 Google Ranking
Now the first one is ranking on Google…
That’s basically applicable to any type of blog or articles.. Like I said, this is still about building the relationship with your audience long term.
So for example, if you google out “passive income ideas” like what I did on the video above, you’ll see your boy Mike Vestil on the first page of the search results.
Let’s say you click on the blog that I wrote, what you’ll see is me giving value and building a relationship with an audience that have no idea who I am yet and just offering more and more value.
As you can see right there, you’ll see various products and services that I offer which actually make passive income on the side.
And ever since I made that same article that I showed on my video above and it being ranked on Google.
It’s actively building that relationship so that it could go to the step two of actually selling a physical or a digital product.
#2 Create Sales Funnel
Now sales funnel is kind of like a more advanced version of just ranking on Google and linking it directly to a product or service that you offer.
The reason why a sales funnel is very important is the same as what I’ve said in my previous blog.
Your biggest goal is to get someone who has no idea who you or what your brand is and turning them into a crazy fan that just loves your product or your idea in your messaging!
So how you actually do that is CREATING SALES FUNNEL.
Understand that every single time you have a sales funnel, each step gets the consumer more invested into your messaging.
Let’s say someone just landed on the How to Reinvent Yourself on Google, on YouTube or maybe they just stumbled upon a friend who probably shared it. .
(because if you think the content is good, I definitely would recommend sharing it to your friends so that we can grow this freedom fighter movement..)
Say they go and read it and saw the FREE eBook: The 3 Principles to 3x Your Income in Half The Time.
Once they click it, then this is the first step in the sales funnel.
Because as you can see, I’m offering a bunch of value from videos and I’m not actually selling anything directly on my blog.
It’s the sales funnel that builds up the relationship with my audiences.
That’s why I always want to make sure that I’m giving more value than the audience is giving me money.
Because that’s how business works, they are willing to leave their money and part ways with their money with the value that you offer.
They want your value more than they want their money, and that’s where the exchange of income actually happens.
So going back to that pop up. .
The FREE ebook will automatically be sent to them via email and then they can go over through the videos that I made.
These videos now builds that relationship in the sales funnel.
As you can see, here’s how it happens by sequence:
- They first they watched my video or read my blog.
- I gave them a free ebook to 3X their income in half the amount of time
- Then I give them more videos that’s basically edifying and giving credibility to Russell Brunson who I’m basically selling his info product through this sales funnel.
So always remember that when you’re building a passive income machine, you always want to make sure you’re building relationship through your videos, blog posts or emails.
And the next thing is having a product or service to sell.
It doesn’t have to be your own because like I said, I did this a while back when I didn’t have my own product.
And now I could just sell Russell Brunson’s product for a commission of around $300 dollars which would be pretty sick . .
Because I get a couple of those every now and then and it’s passive income that I don’t have to really work on anymore because I created the sales funnel a year ago and it actively still brings in income.
#3 Send Daily Emails & Create an Email Autoresponder Sequences
As you notice, every single time we get deeper into the funnel of passive income, it’s just finding a way to increase the building of the relationship and putting my products in front of more eyeballs that have already seen my brand and my messaging.
So remember that the first goal is ranking on Google or YouTube..
Nw the second layer of it is giving your audience an opt-in or a lead bribe to get their email address.
Whih is why the third way to create passive income is to actively send them emails on a daily basis via an autoresponder sequence. It’s your platform where you can offer value after value and then asking for the sale.
If you follow that pattern and asking for the sale with the right hook, then you can create that passive income.
#4 Create an EverWebinar
I actually love EverWebinars and I’m being transparent as you can see it in my video above.
The thin about people is they want more of an intimate form of relationship with the people that they buy stuff from.
So what I did is I realized every single day that I was doing webinars and I see the exact same thing.
Some days I’m high energy and offering the most value and some days I’m low energy and I’m not doing the best that I can.
So what I did is I recorded all of my best recordings and trainings and in that process, I just picked the best one and turned it into an evergreen webinar . .
So that the people that don’t know who I am, when they come and join the EverWebinar, they join it and they learn from me as if it was live.
And I could get to look at the questions that they have so I can answer them in these YouTube videos to fully help you guys out that are also struggling
So at the end of this, I get to sell a product.
This is how you get a couple sales because this webinar is around 1-hour long and it is “one hour” of just close one-on-one Mike Vestil bonding.
Then if they want to, they could buy the product which most people really don’t even have to because I gave a bunch of stuff away for FREE on my youtube channel.
#5 Create Youtube Videos
The thing about YouTube is that it’s one of the best platform for passive income.
It’s where you can best build relationships with your audience and then to always offer products and services.
As you know, I’m making videos every single day.
What’s gonna happen is the views that I get for this video are going to compound to all of the old videos that I’ve made for the past couple of years.
And as you can see, how YouTube pays me is I get paid per around 1000 views for $10 to $15 dollars.
This CPM is actually really high since it’s an entrepreneurship niche. .
So if you do the math where for every 1000 views I get around $10, I would only need around 10,000 views a day to make an extra $100 a day.
Guys, that’s the coolest thing!
Because with these contents that I’m creating, I get to offer a lot of value and just building a relationship with the audience.
Now as people continuously watch more and more of my videos, my views go up and then I get paid through YouTube Ads.
If you want to learn exactly how much I get paid, just go to mikevestil.com/passiveincome.
Watch this video and you will see exactly how much I get paid just from YouTube Ads alone. .
Which is pretty insane because like I said, I could have no other sales funnels in my business but just from YouTube, I could literally survive off of that.
#6 Outsource Dropshipping
For a lot of people that have been following my journey especially if you go through the Start Here section on my blog, you’ll find out that my first rise to fame on YouTube was being known as that dropshipping guy.
I was one of the first guys to build an e-commerce site who actually hired eight individuals from the Philippines to basically run all of my businesses so I can focus on making more videos for you guys!
If you want to find out how I actually hired a team and how I was able to trust them with my credit card information so they wouldn’t mess me up financially, just check this link out below:
The thing about dropshipping is it takes a lot of time!
Everyone only has 24 hours in a day, but if you outsource eight other people to work for you in your dropshipping business. .
That’s eight times twenty-four which gives you around 160 hours of time on a daily basis that could be building a store where you don’t have to.
So I really think eight people… eight brains are smarter than one, (especially if it’s my own). .
#7 Build an Email List
As any big online entrepreneur will tell you, the money is in the list.
It’s because of the fact that you’ve already built that relationship long term with your audience because they opted-in for your bribe. .
And now it’s just automatic when you just put an offer in front of them and it’s their choice if they want to buy or not.
As you can see on my sample screenshot above, I have the ability to have 30,000 people view my products in my offers.
In that case, do you think you could get a couple of sales every now and then? Probably.
Because here’s the thing…
If you’re consistently emailing value everyday and they’re building the attraction to you’re attracted character, they’re gonna end up behind from you eventually guys.
Remember, even though your customers won’t buy from you now. . They may buy from you a year from now!
And the marketer or the entrepreneur that offers the most amount of value the longest and keeps their attention, the more likely they’re gonna make the sale.
Like for example for me, why do I make all these YouTube videos?
I don’t really care if you buy from me today, next week, or next year.
Dude, all I know is in the next 5, 10, or 20 years as I’m creating values, I’m inspiring other people.
And as I’m helping people out with these YouTube videos, odds are maybe one day you might want to buy my book, right?
That’s like the littlest thing if you offer so much value in the world. .
The sales will come in.
So hopefully this helps guys, let me know in the comments what you love the most!
Take it easy.
And for more tips on how to make money online make sure you check out the following: