You’ve been thinking about turning your expertise into passive income streams that can serve your clients, save you from repeatings yourself 50x a day AND make you money on automatic, but you’re not sure where to start.
In this episode, you’ll discover 7 passive income ideas that you can start today with $0.
I’m sharing with you the BEST WAYS to make passive income as an online educator.
These passive income ideas are something that I have already built and /or I’m currently building in my own life as an online educator to help my family get one step closer to financial independence.
For more episodes on how to create lifestyle and financial freedom aka build True Wealth via an automated digital course business, be sure to SUBSCRIBE new episodes released every week.
A webinar is an engaging online event where a speaker, or small group of speakers, delivers a presentation to a large audience who participates by submitting questions.
Like all passive income streams, they take some upfront work to get started.
For the first few teaching rounds of your webinar, I recommend that you teach it live to ensure that you answer all of the questions of your ideal audience members.
You can build a supplemental slide deck from one of your pre-installed computer applications or use the free version of Canva.com.
To deliver your presentation, there are many webinar hosting options available. Many of which are quite the investment. I recommend starting with the free version of Zoom or going LIVE in the Facebook community.
Only once you’ve successfully pre-sold your webinar to a paid live audience would I consider investing in webinar automation software.
When I first got started with webinars I’d offer the live webinar version for free for all live attendees AND invite them to pay $49 to be sent the replay. Because getting students to register for your webinar is one thing, getting them to attend is another, so why not get paid to pull your materials together, so long as you know that you’re providing more use value than you’re charging.
As a guest speaker you’re invited to share your knowledge and experience with an audience you might not have previously had access to.
Guest speaking is a great way to help gain exposure for your brand as well as build your authority as an online educator.
Landing guest speaking gigs cost nothing.
You can use the free tool, Canva.com to put together a simple 1-page speaker’s profile and leverage free community forums, such as Facebook groups, Linkedin, or similar to find potential speaking opportunities.
Depending on the event, once booked, you’ll either be paid to speak or deliver your speech for free, but record it and now you can choose to convert the recording into a paid offer.
There are many ways to do this, as for me, this type of passive income stream I plug into an email marketing campaign using my go-to email marketing Convertkit and collect payment directly from there.
Affiliate Marketing is basically recommending products that have an affiliate program.
Businesses that have affiliate programs will pay a percentage of the sale of an item to the affiliate for recommending the item.
One popular way of using affiliate marketing is through a website or blog. If you have a website or blog as an online educator, you can easily recommend the products and services that you use every day.
Amazon has a great affiliate program and you can apply and list their products on your website, blog posts, emails, or youtube videos.
Another popular way of earning passive income through affiliate marketing is by recommending other people's services and products.
An example of this is my affiliate partnership with Michelle Lewis. She was a guest speaker on my show and provided a link to a helpful paid resource of hers.
When it’s appropriate and helpful for my audience I share that resource via an affiliate link. When members of my audience buy her product I get a small kickback.
As an online educator, you can establish an online e-commerce store where you send your students your most recommended books, supplies, or other products that they’ll find helpful.
Free e-commerce sites include but are not limited to Shopify, BigCommerce, Big Cartel, or my go-to Wix.
These days as an online educator, your published book is basically your business card.
Not only can you get paid for when people purchase it, but it can also help you land paid guest speaking gigs.
Publishing a book isn’t hard or expensive.
Inside my signature program, The Income Amplifier, I show you step-by-step how you can easily turn your expertise into a self-published book without ever having to write a single page of it.
This is ideal for those of you like me who feel more comfortable speaking your ideas versus putting pen to paper.
For more information visit MollyAnnLuna.com/IncomeAmplifier *add pop up text
Creating a Course
Creating A Course or multiple courses is another way that online teachers can generate passive income.
Depending on the type of course you create or how you want to release the content and what sort of support you will be giving to your students will vary in the amount of “passive” income this can generate.
A true course that generates passive income will be a course that you publish to a course hosting platform such as Thinkific, and it just sits there waiting for people to purchase it.
Like a few of mine over at The Legacy Leaders Academy.
Course creation can take a lot of work on the front end to create. My best piece of advice would be to pre-sell your course, teach it live and then convert it into an evergreen version that you can publish on an automated digital course hosting site.
Oftentimes while I’m guest speaking I’ll mention a course I’ve published and sales will roll in overnight.
This is one of my most favorite versions of passive income.
Google AdSense pays you money when you are able to monetize your blog/website or YouTube channel.
When your blog/website has a certain amount of traffic, ad agencies will be interested in working with you to put ads on your content.
You know when you are on a website and you see small ads on the banner at the top, the sidebars, or embedded within pages or posts?
These are ads that are generating revenue for the site owner.
It is a great way to create a passive income because you just leave them there and they can generate income.
You can also receive Google AdSense money from monetizing your YouTube channel when it hits 1,000 subscribers and when you have 4,000 watch time hours within the last 12 months.