My Monthly Income Success
I’ve made over $300,000 in the past 30 days from mostly semi-passive income sources. Now, what do I mean by semi-passive? What this means are income sources that continue to pay me for work that I’ve done far in the past. In fact, over the past month, I haven’t even worked that much. All in total, I’ve worked much less than what most people work at traditional jobs, yet I’ve made way over for most people even a yearly salary in just a month.
Travel and Income Freedom
I’ve done this while traveling the world, going to multiple different countries in the past month. And whenever people hear that I’ve been able to do this, they always ask me how, and the purpose of this video is to show you exactly that. In fact, I’m going to be going over three different passive income sources that you can do to potentially make money online through the Internet in a passive way, and by passive what I mean is that you do the work once and you can continue to profit from it.
Digital Products Revenue
One is digital products, but not in the way that you probably think. If you do this method of making passive income correctly, it can potentially be huge. This income source alone has accounted for well over $200,000 of my revenue in the past month, which is why I’m sharing it with you here first.
Skill Acquisition Importance
But in order to do this, you need to do something first in order to do it correctly, and that thing you have to do first is known as skill acquisition. You need to acquire a valuable skill that other people also want to acquire. Now, how can you acquire these skills correctly in an actual good way? Well, there’s a website known as Skillshare, and they’re actually the sponsor of today’s video (big thanks to them for sponsoring the article.
Online Learning Platform
Online education is something that I really believe in, and Skillshare has a huge library of different courses in almost every niche that you can imagine. And you can learn and acquire skills related to topics like health, wealth, relationships, online marketing, travel, and technology. Basically, ideally, you’re going to be wanting to learn a skill that can solve people’s problems, and all of those topics that I just mentioned are typically topics that people have problems in.
AI Business Opportunities
Now just to give you an example of what you could potentially do, a huge trending topic right now is Artificial Intelligence and also using Artificial Intelligence to generate things that companies actually need. Now there’s so many different routes that you could go down here – you could help companies generate ads or logos with AI, or you could even use AI to help with generating YouTube thumbnails.
MidJourney Class Experience
That’s why I’ve been taking a look at this class right here on Skillshare called the “MidJourney Master Class” that’s going over how to use the AI tool MidJourney in order to generate great AI art. But the thing is that these tactics of generating AI art also apply to YouTube thumbnails, which is why I’m really interested in learning more about that.
Skill Development Process
So let’s say you went through courses like this on Skillshare, you acquired that skill, and you learned exactly how to use AI tools, and it’ll show you all the prompts and everything you need to do. Now you have an incredibly valuable skill, then you can take that skill and do a couple key things that I’m going to show you to potentially make a lot of money from it.
Skillshare Promotion
Now if you want to acquire skills, I can’t recommend Skillshare enough. Check it out down at the link below. The first 500 people to use the link down in the description will get a free 1-month trial of Skillshare. Big thanks to them for sponsoring this article. And now once you’ve got your skill, the thing you need to do in order to actually potentially make money from it and make passive income from it is to first do it in a non-passive way. Now you might be saying, “Matt, why would I do it in a non-passive way?”
Starting With Marketplaces
I just want to jump straight to the passive income. Well, trust me, you need to do it in this chronological process, and you’ll thank yourself that you did. So essentially, you’ll go to marketplaces then like, for example, Fiverr or Upwork.com and start implementing this skill for other people for a very low price initially. You’re not going to make much money doing this, but trust me, this is all part of the plan.
Building Customer Testimonials
So let’s say, for example, you start generating YouTube thumbnails for people, maybe logos for companies like we mentioned using AI, using the skills that you’ve acquired through places like Skillshare. Then through doing this, you’ll build up some great customer testimonials, especially if you’re barely charging anything for your services, because the key to making a lot of money with this isn’t through doing this freelancing that we’re talking about right here.
Digital Products
The key of making a lot of money is to eventually sell digital products, and this is how we can start making that semi-passive income where we do the work once and we can profit from it for years and years into the future. Eventually, what we’re going to do is put together our own digital guide.
MidJourney Prompts
If they’re doing this and acquiring skills and so forth, you’ll learn what are the best prompts for MidJourney, for example, and you can start writing those all down, putting them into a Google Document (which is a digital product) and then charging money for that digital product on places like Gumroad.com.
Passive Sales
Then when people buy your list of prompts for MidJourney off of Gumroad – Boom! You just made a little bit of money, and you had to do no work for it. You did the work once in the beginning, but you didn’t have to do any work every single time a new person buys. So then you can just get infinite sales into the future.
Income Streams
You don’t have to worry about trading your time for money because you have infinite time now because you did the work once and you set up this semi-passive income stream. And the longer you have this income stream going, the more and more passive it gets, and the amount you’ve benefited from that work continues to grow. You can also do things like put together online courses, sell Excel spreadsheet databases of different things – the possibilities are essentially endless.
Marketing Strategy
Now once you’ve got this passive income source of, let’s say, selling a digital guide about how to do YouTube thumbnails with AI, you might be asking how can I get more eyeballs onto that because more eyeballs means more sales. Well, the way you can do that is by using our next passive income source, which is the platform on right now, which is YouTube, but not in the way that most people think.
YouTube Content
You can run YouTube channels where you never have to step in front of a camera. You don’t have to be an influencer – you can simply do YouTube by putting together slideshows with something like Google Slides, using an AI tool like Tube Magic to write your scripts, come up with infinite great video ideas, and optimize your videos for you, use something like OBS to record your screen.
Content Creation
By the way, here’s a list of a bunch of great faceless YouTube niches as well, but let’s say for example that you started running a channel about how to grow on YouTube, how to generate great YouTube thumbnails, and you can just saturate that Channel full of videos about useful information on that subject, taking little bits of the skills that you’ve learned throughout your journey doing this so far and just sharing that for free on YouTube.
Success Story
Then you’ll start building up an audience on YouTube, and this will be a directed audience, and even if it’s tiny, you can make a lot of money. I had a student on one of my courses who had less than 3,000 subscribers who was able to make over $100,000 per year from that, and that’s by selling a digital product from his YouTube channel.
Business Model
And these are people who are already interested in this because they’re searching these queries about what he was talking about, and each of his videos barely got any views. So even if you’re doing something as niche as how to make YouTube thumbnails, you can make that into a full-time business, and that student that I was mentioning, his videos were literally just slideshows using something like Google Slides like I mentioned, doing a screen recording with something like OBS and just demonstrating different concepts about what he was teaching in the form of a slideshow.
Content Diversity
And you’re not just limited to long-form article either – you can also do things like YouTube Shorts, TikTok videos, and Instagram Reels as well to diversify your content even more, and then you can even use an AI tool.
Using AI Tools for Video Content
Like “Opus Clip Pro” in order to take your long-form videos and split them up into a bunch of great clips, and basically let AI do all that work for you. And then in order to make sure your videos are as optimized as possible, use “Tube Magic” using the video optimization feature to automatically optimize your videos for you.
YouTube’s Long-Term Earning Potential
Now, YouTube is incredibly passive, and I’ve learned that throughout my past 10 years here on the platform. Because I’m still getting paid every single month, hundreds of dollars per month in some cases, from videos that I’ve uploaded when I was just 14 years old! So I know how passive YouTube can be, and hopefully you can learn that as well.
Revenue from YouTube Ads
You can also even make money from ad revenue from YouTube as well directly from the platform. It’s always nice to get an extra check every single month passively from Google and YouTube itself!
Building on Existing Income
What we’re going to do here, we’re going to take the current two passive income streams that you’ve already set up, and we’re going to basically use those to generate a third one. And this third one is the easiest and the laziest of all of them because you won’t have to create a product, you won’t have to be running more YouTube channels or anything like that.
Channel Content Strategy
You can simply plug and play something into the first income streams we talked about and basically turbocharge your income and make even more money. So let’s say, for example, we’re doing that YouTube channel about how to grow on YouTube, how to make YouTube thumbnails and everything.
Software Partnership Benefits
What if there’s an easy way to add at least a couple $ per month to that passively? Well, it turns out there is! You can partner up with software that help people do what you’re teaching them how to do (in this case running YouTube channels) and then make money recurringly every single time that you refer someone to that software forever into the future.
Tube Magic Affiliate Program
And one great software is my own “Tube Magic” that you can sign up to be an affiliate for, and we’ll give you 50% commissions (which is unheard of when it comes to software, by the way) to promote that in the descriptions of all your videos, and you’ll make even more money from that.
Monthly Recurring Revenue
And if you get 1,000 people signed up to “Tube Magic” paying you every single month, not only are all those people going to be benefiting from the software, but also you’ll be making an extra $220,000 per month, and it’s recurring month after month! So now you’ve just plugged recurring, even more passive, even more lazy income to yourself.
The Perfect Income Trifecta
So now you’ve got these three golden passive income streams. I like to call it the perfect trifecta for making money online! Bonus Passive Idea!
Reinvesting Business Profits
And now that you’ll be making all this money, you might be asking, “Matt, what should I do with it?” Well, first and foremost, make sure to put a good amount of it back into the business by doing things like investing in more education, maybe buying some ads as well to what you’re doing and everything.
Personal Experiences and Savings
Any extra money you have on top of that, after you’ve paid for living expenses or your bills and just doing whatever you want to do within your life (like for example, I love to travel, I’ve traveled the entire world – just in the past 30 days I went to India for the first time in my life, which was absolutely incredible), but the extra money you have, put it into something like a high-yield savings account.
Interest and Investment Options
Where you can then even make more money off of the money that you’ve already made, and right now interest rates are super high so make a lot of money off of that! But then this isn’t investment advice or anything, this is just what I personally do with my money.
Long-Term Investment Strategy
Any extra money on top of that that I know I’m not going to need for at least the next 10, 20, 30 years, I put into things like ETFs, which are long-term investments, and then I just know in the background that’ll hopefully be growing and making me even more money over time.
Faceless YouTube Success
Now as I mentioned, the best way of getting tons of traffic to anything you’re doing online to turbocharge these passive income streams is always YouTube, and if you want to discover how to do YouTube in a completely faceless way (but these tactics work for any type of Channel honestly), check out this article right here!