Back in the year 2000, I started a professional web design business and often wasted many hours dealing with picky clients that wanted multiple changes to their website. It often resulted in a lot of stress, and I had little time for travel or leisure because I had to meet deadlines. There was also a limitation about how much money I could make because I was trading time for money.
So what’s changed?
Now I generate a full-time passive income from YouTube by bundling multiple income streams together and no longer trade time for money.
How do you do that?
Get My New Shorts Course: Mastering YouTube Shorts: The Complete Guide
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5 Ways I Generate A Passive Income From YouTube
YouTube Ad Revenue
One of the easiest ways to generate a passive income on YouTube is by displaying ads on your videos. When a viewer clicks on your ad or watches it for 30 seconds, you get paid by YouTube. YouTube gets a 45% cut from what the advertiser pays, and you get the remaining 55%.
Here’s the estimated ad revenue I’ve generated since starting my channel.
Keep in mind, if you want to make money from ad revenue, you need to meet the minimum eligibility requirements of 1000 subscribers and 4,000 public watch hours in the past 12 months, or 1000 subscribers and 10 million valid public Shorts views in the last 90 days.
After you’ve been admitted to the YouTube partner program, you can monetize your ads and generate revenue on autopilot. The more views you get on your videos and the more videos you upload to YouTube, the more revenue you’ll make.
YouTube Channel Memberships
YouTube channel memberships are a great way to generate passive income from YouTube, by offering perks in exchange for a monthly fee from your viewers. Click this join button to become a member of my channel.
You’ll get exclusive members only live streams every month, get your questions answered live, get access to my members only Facebook group, get badges so your name stands out in the comments. You’ll also be supporting my channel, which helps keep it growing.
To become eligible for channel memberships you must have 1000 subscribers, be in the YouTube partner program. Be 18 years old, come from an eligible country and your channel cannot be made for kids.
You can turn on channel memberships by going to the monetization page in YouTube studio, then click on “Memberships”.
Click here If you want to know how to set up and turn on channel memberships
Promote Affiliate Products
The beauty about promoting affiliate products on YouTube is that your channel doesn’t have to be monetized and you don’t have to do much work. You don’t have to create the product or the marketing materials.
All you have to do is promote the affiliate link from a brand or company in the description below your video, and you receive a 50% commission. For example, in this video, I show how to use TubeBuddy’s, keyword Explorer tool to uncover keywords that can rank #1 on YouTube.
I tell viewers to click the link in the description to check out TubeBuddy. Once I’ve set it up, I generate a passive income by TubeBuddy sending me commissions every month.
Here’s a video on “How to shoot cinematic footage used in a GoPro Hero 9“. During the video, I direct viewers to the Amazon affiliate link in the description. I get automatic commissions as an Amazon affiliate.
Here’s a digital product I created on Mastering YouTube Shorts.
Here’s the amount of income earned last week from digital entrepreneurs using Gumroad. It’s a free online platform that includes a flexible page builder and you can host your products there for free. There are no monthly charges and it just takes a 10% flat fee for processing your payments. All you have to do is open an account, add your product, and start selling.
The more digital products you create, the more money you’ll make.
Types of digital products you can sell through your YouTube channel
- eBooks and reports,
- online tutorials,
- templates,
- membership sites,
- coaching services.
Example for why you should STOP trading time for money and what to do instead.
If you make $20/hour building websites, you can make about a $1000/week. That means the maximum you can make in a year is about $52,000. Let’s compare that to selling a digital product.
If you created a course that sold for a $100 and you sold 20 copies per week, you’d make $2,000 per week. If you made $2000 per week for 52 weeks selling a digital product, you’d make $104,000 per year.
If you only took 5 hours a week to market the course, you’d still make $104,000 per year. That means you’re trading value for money, not trading time for money.
If you created 2 courses, how much would you make?
BIG TAKEAWAY
The big takeaway is stop trading time for money and start trading VALUE for money. When you create and promote your own digital products and courses, the growth of your business is endless.
If you want to know how I stopped trading time for money by ranking my video on the 1st page of YouTube and Google, watch this video on “How I got over 1 million views from YouTube and Google search.”
Get My New Shorts Course: Mastering YouTube Shorts: The Complete Guide
Click here for more info
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