18 Residual Income Ideas And Opportunities

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hey guys Justin Brown here from self-made success.com and in this video I’m going to show you eighteen different residual income ideas and opportunities so if you don’t know residual income of course is a way of making a sort of passive income or income that comes in even when you’re not working so the goal here is to have a business that needs only a few hours of management per week runs almost on autopilot so you don’t have to constantly be working and putting in the hours just to get paid and makes you money 24 hours a day seven days per week whether you’re working or not so if you take a vacation for a week you’re still making money that entire time if you’re asleep you’re making money while you sleep this is the whole point of a residual income business and we give you eighteen versions of doing this okay so the first one is Kindle publishing which is publishing ebooks on Amazon and the way you do this is you go to KDP amazon.com which is a page that looks like this you sign up create an account and you upload books whether they’re nonfiction fiction self-development you know science fiction parenting books whatever it is you post them on Amazon because Amazon of course is the biggest book marketplace in the world now and you can publish pretty much as many books as you want and by publishing on there you get the most amount of traffic and the most possible buyers all in one platform through Amazon and you can get up to 70% royalties not only in your country but in countless other countries so if you have a few books that are really popular if you have a lot of books that just rank for certain keywords and you publish new books every week I’ve seen people do both ways you don’t have to be a best-selling author to make a lot of money doing this you can sell very specific nonfiction books that help people with a certain problem that are very specific on what to do with step-by-step instructions they don’t even need to be long books you can read a book like as a man thinketh and it’s a book that’s probably 100 pages or less actually I think it’s quite a bit less but it is a short book that is a best-seller and it’s been around a long time making a lot of money and there’s other books as well but if you just find your niche through Kindle publishing you can make a lot of money all the time just from book royalties number 2 is plugging and blogging allows you to make money from a lot of different things but the great thing about blogging is you don’t have to constantly be checking on advertising you don’t have to constantly be doing things to get traffic you can blog you can do say an article a week and that article every time you publish it will get you traffic for years if you know what you’re doing so if you want to start a blog I would reckon you go to my website self-made success.com and there’s a resource I have for you up here you just click start a blog it will take you to this page and they’ll show you how to start a blog very cheap less than four dollars a month and it’s through WordPress which makes up over a quarter of the Internet now it’s the best blogging platform out there and it uses Bluehost hosting which is cheap and reliable so it allows you to make money from a lot of different things some of the things I’ll cover here later in the video you can combine with a blog to get the best results but each blog post you do as it ranks in search engines will get you traffic for years to come so as you get more and more traffic all the time with people around the world in different time zones looking for these things that your blogs cover you’ll constantly be making money from ads course sales ebook sales and whatever it is you’re doing to monetize your blog 24 hours a day so number three is stock photography so if you’re a photographer you don’t have to sell at shows and events and things like that you don’t have to take the hard route with it come with the selling your photography you can sell it online and make royalties kind of like you do with ebooks and you can go to a site like istockphoto.com there’s other ones that you can go to but you can upload your stock photography and make Commission’s basically from people downloading the rights to use your images and with so many images being copyrighted in so many businesses needing images for blog posts videos software books all kinds of different things there’s constantly companies paying for these photos on places like istockphoto.com so what you can do is be one of the photographers that uploads your images to these sites and gets paid royalties every time people use your images so that’s another great way to create passive income number four is a YouTube channel and every time you make a YouTube video you can make money for years to come from that YouTube video when it might take you only a few hours to make it so if you get good at this you might get hundreds of thousands of views millions of views per video and you can monetize it with ads like most people do or you can even monetize it selling courses selling affiliate products sending people to your blog whatever and whatever you’re doing to monetize it you’re going to constantly be getting more and more traffic as you publish more videos but you can publish a video a week maybe spend just a few hours a week working and these videos will make you money for you know days and weeks and months and years to come with very little effort so if you know what you’re doing YouTube can make you a ton of pass income and that’s that’s why there’s so many YouTube millionaires now number five is affiliate marketing so affiliate marketing is another great way to make residual income because it’s very little maintenance and there’s a very high value to affiliate marketing you help vendors sell their products and they pay you a commission but you don’t have to deal with the creation of the product you don’t have to deal with the customer support you don’t have to host the product on a website you’ll have to do anything like that all you have to do is go to a site like Clickbank which is the number one affiliate marketplace that I recommend and you pick products that you’re passionate about that you know something about if you know nothing about fitness and you hate fitness don’t sell fit this product find these categories go through what through them go to the sales page make sure you go to the sales page and ask yourself if you are tempted to buy the product if you are tempted to buy the product just looking at their sales page most likely a lot of others will be as well so find something you are know something about you’re passionate about that has a really good sales page you can promote these things through social media blogs videos SlideShare presentations even your books all kinds of different ways however you get traffic you can even do paid advertising but you get a commission every time people buy these products that other people made through your link so if you have your link all over the place and you have different forms of traffic through blogs videos and things like that you can be making a lot of money from affiliate marketing you know every day of the week hours throughout the day even when you’re sleeping so affiliate marketing very low-maintenance – great residual income business number six is an Etsy store and Etsy stores for the most part you’ll see a lot of people who sell art that is shipped to you so whether it’s t-shirts whether it’s sculptures whether it’s prints paintings Etsy stores typically sell physical products but they have a side of Etsy that allows people to download what they buy so you can download the art and then print it yourself after you pay for it in the size that you want that way people can print it on whatever material they want they can print it any size they want and then of course they can get the frame for it and things like that so Etsy allows you to do uploads so people pay for this is just an example of a an image that you can buy it’s a quote type image pay five dollars and seventy five cents add it to your cart pay for it and then you instantly download it to your computer so if you do a business like this will you make your art downloadable you can have people downloading your art 24 hours a day all different countries and you don’t have to worry about shipping you don’t have to worry about printing you don’t have to worry about any of that kind of stuff you can just let it automatically run itself and all you have to do is you know maybe make a new piece of art once a month or once every couple weeks just to keep having fresh content and building up but when people can download things themselves pay for it all all using Etsy creates a pretty automated business number seven is udemy courses so younameit courses is just a way to sell information it’s a way to teach people how to do things using videos and you’re basically just an instructor on the internet but you don’t have to instruct people live you’re not like a teacher you’re somebody who has pre-recorded videos of how to do things step by step and because they are pre-recorded and you just upload them and sell the courses on udemy you don’t have to constantly do live presentations or anything like that like a normal teacher would so people go go here they have over 12 million students as you can see on the screen and they buy these courses on specific things they want to learn about and then they can watch them and go through them on their own time so because it works this way it’s all passive all you have to do is upload your courses whenever you want and you can make a lot of money from different countries at different times whether you’re working or not so all you might have to do is upload a new course every once in a while and that’s about it number eight is podcasting podcasting of course it’s like your own little personal radio show so you may have listened to the Tim Ferriss show or you may have listened to entrepreneur on fire or smart passive income or the Joe Rogan show or something like that there’s a lot of different very popular podcasts now and people are getting to where they like to listen to something while they’re working out while they’re driving and things like that so podcasting has become very popular and if you want to have a residual income business podcasting is one of the best ways to go because all you have to do is have either advertisements within the podcast affiliate links that you mentioned products you mentioned telling people to go to your blog there’s a lot of different ways you can make income just by promoting it throughout the episode and like I said I mentioned a few podcasts you can go check out for instance the Tim Ferriss show has a lot of sponsors so before and after the show he will mention the sponsors and those sponsors pay for those slots and he makes a lot of passive income because it gets paid from them and people are constantly listening to these podcasts on their own time different time zones around the world using the podcast app so it allows you to make a podcast maybe once a week and then let it make you money for the rest of the week and for years to come so it’s a great way to go if you want to have like your own radio show number 9 is Amazon FBA and this on FBA you are selling physical products but you aren’t just inventing stuff and making it yourself and working out of your garage like a lot of entrepreneurs have to start you are using Amazon to cover everything so they have partners that allow you to have products manufactured shipped and marketed and sold through Amazon’s website through their manufacturers through their other partners all through Amazon FBA also known as fulfilled by Amazon so you go to services amazon.com slash fulfillment – bye – Amazon and then you’ll go to a page like this and it allows you to create a cellar account get started right here and it allows you to go through the steps to create your own selling business for Amazon all you have to do is be able to put a brand behind the products you want to sell and you might have to create a blog you might have to create some YouTube videos to get some more marketing but you’ll be selling it on their website as well so there’s going to be a lot of traffic there and this can all be pretty much completely automated except for maybe a few hours a week just to check it just to check on your traffic and maybe deposit your income but that’s about it and if you want to sell physical products that’s the way to go if you want residual income number ten is software and software is something of course that people can download through their computers so instead of shipping a product instead of manufacturing it instead of creating it like a handmade product software is something you can code you can create and you can copy and send files to when people pay for it so if you want to create a software business one great resource would be Shopify Shopify’s pretty much the global leader leader in e-commerce service and Shopify allows you to create a good software selling process so that you can sell your software without having to do anything too complicated so it’s kind of something that’s all covered through their systems and you can sell your software like whether it’s software that helps businesses or it’s a software that’s maybe like a game who knows what it’s about you mean software for pretty much anything but software is something you can make once and would it make you sales for years to come and you might want to make a new piece of software every once in a while and of course you’ll probably need to update it maybe once every few weeks or once a month most people don’t have to update their software that often so you just have enough have to figure out you know how you would manage it and look at it every once in a while just to make sure it’s working properly but you’re not going to need to spend a whole lot of time on this business after you have the software created and you have your marketing funnel in place number eleven is network marketing so this is very much like affiliate marketing except you can also recruit people to get commissions as well and then you get a percentage of what they make so it’s kind of like you’re building your own organization within an organization so some examples of network marketing companies you’ve probably heard of Mary Kay Cosmetics Herbalife AdvoCare Amway Avon Beachbody pampered chef is a new one that’s gaining a lot of steam you want to go to MLM rankings com to kind of get an idea of which ones are the most popular what kind of products they sell so you can pick something that you’re passionate about that you know something about and then you can do kind of like affiliate marketing where you create your sales process and just let the traffic go through it and go through an automated sales funnel where people can decide to buy your products or not and the more traffic you have you will get more sales and this can happen all automatically through the internet also you can recruit people the same way so you might have a video of yourself pre-recorded and a sales funnel that tells people why they should join you why they should sell this type of product and you will have distributors recruited through an automated phone so you might check once a week with these people or however often you want to just kind of check on how they’re doing maybe give them some advice just so they kind of know what they’re doing or you can even pre record a training that teaches these distributors what to do so it can really all be automated just like these other businesses number twelve is music so if you’re a musician you might be better off selling stock music or your own CDs and things are your own albums on say iTunes or YouTube or other places another great one is premium beat com premium beat allows you to sell music for royalty they have royalty free music but they also have music that you have to pay a price to use because it’s copyrighted because you created it and they have to buy the rights for it so much like a stock photography business would be you make beats you made music and you can upload it to a site like premium beat and get paid royalties when people pay for the rights to use it whether they want to use it in a video in a movie in a presentation and a party whatever it is people pay for the rights to use your music you get royalties and it’s all pretty much automated all you would have to do is make the music and get it on there and of course you can keep making more music whenever you want but it’s pretty much automated when you get it all set up number 13 is plugins so plugins are these add-ons that go to a WordPress website and I mentioned WordPress earlier when I was talking about setting up a blog because they now account for about 26 percent of the entire Internet they’re pretty much by far the most popular blogging platform and website creation platform out there or at least one of the top ones and the thing about it is you can create these plugins that add almost like a little piece of software to your website so it allows you to customize it and get all kinds of new functions that you didn’t have when you originally made your website so it’s really cool how people love to customize and create new things on their website using these plugins and you can sell plugins at a premium price if they’re really good so you’ll notice different companies actually make a living off selling plugins and a great place to sell these plugins of course is wordpress.org / plugins which is a place where they actually allow you to upload your plugins and you get an actual page that shows the information about the plug that looks like this so it was you to have a download button that shows the ratings of it shows about the creator and you put descriptions and screenshots of what your plug-in does so this can be a great way to make money pretty much in a residual way you know you might you’ll have to update it every time WordPress updates possibly but they don’t update that often it might be once a month so you can update your you can spend a little time updating your plugins every once in a while but otherwise a lot of the stuff will sell itself if it’s good so you get these things all pretty much done in-house with wordpress.org all you have to know is how to code and what kind of plugins to make to really get good sales so you might create a new plug-in every once in a while and you might have to do some updates but other than that most of your time you can do other things and this will make you money in the background 24 hours of pay number 14 is themes you can sell themes for websites WordPress of course is one of the main website systems and themes are the structure of the websites so all this visual stuff you’re seeing right now in this page is basically from the theme which is a series of codes that determine the color the backgrounds and the set up of the website so in photo marketing or Envato market is a place where you can buy plug-ins you can buy themes and things like that and they allow you to actually sell there so if you want to create your own themes you can sell them at invited marketing they have themed port theme forest code Canyon they have all these different sub domains as well that are kind of more specific to likely theme forest is specific to themes maybe code Canyon will do more plugins but in Bato market is a great place to check out where you might sell your themes as well as your plugins so if you want if you’re good at coding you can sell themes and when they’re on a page like this people will be buying them for their websites around the world on the internet so you don’t have to do much physical work except maybe update the theme every once in a while or make a new theme every once in a while that’s all you’ll really have to do number 15 is membership sites and membership sites are pretty straightforward they are websites where it’s constantly having updated information kind of like a club or place where you can discuss things and therefore you pay a monthly fee to be a part of this website or to see the information on this website so here are some examples of some membership sites and what they’re doing well why they’re successful you can go to youth screen TV and check out this post called 12 successful subscription sites and what they’re doing right just to kind of see what it takes to succeed with a membership site get some examples that you can go check out on the Internet and it’s a really great post to kind of just show you how this works but a membership site of course is nice because you have a predictable amount of income every month kind of like you do with a job except you’re in charge and it goes all internet-based so it’s very easy to automate all you have to do is maybe once a month update the things that the people are paying the subscription for or you can even hire people to do this stuff so a lot of the stuff you might have to work a little bit a couple hours a week that’s about the most we want to do for a residual income business but you can work even less than that by doing freelance work and hiring freelancers or you can just outsource using say a virtual assistant or something but membership sites are also a great way to go number 16 is niche site so niche sites are basically when you create a small website where the domain the content and everything else is all geared towards a certain group of keywords so it’s a very narrow niche a very small group of people would be interested in that site but it’s so targeted that you can get very good ad clicks through say Adsense and you can get very good product sales through maybe affiliate products and so these niche sites what a lot of people do that do this for a living they will create dozens of niche sites that sell very targeted products based on that niche and ads based on that niche so if you want to figure out how to make a site like this you can go to smart passive income comm and go to the blog post called how to build a niche site and these the starter of smart passive income flin he’s very good at building exercise he’s done some for like security guard training and all kinds of just small niche type stuff that very few people would be interested in but the people that are interested would be very likely to buy or click ads so these can be very profitable they’re they don’t require a lot of maintenance you might have to put a little content on them like blog post but you can pay somebody to do that or you can do it yourself every once in a while but just check out this post if you want to do niche sites and you can do pretty good work just by going through this stuff and following his directions number 17 is brand licensing so you might notice that people will attach their brand name to products that they didn’t even create and the thing about brand licensing is all you have to do is build up your brand and then people will pay you because they know your brand will help them sell products so if you can get into this it’s very profitable and it’s very easy to make quite a bit of money through royalties let’s say you make a 5 or 10 percent royalty on every product sold that has your brand name on it so people pay you royalties for instance to put your name on a product they created because they know it will help them be more popular get more sales so there’s a website called perpetual licensing com that just kind of walks you through the process of brain licensing kind of how it works and it’s gives some resources for of course you can also search on google for brand licensing tips and things like that but this kind of just goes over nothing but brain licensing and gives you some good background knowledge that you might need because this it can be kind of complicated to you know make sure you do this in a lawful way and everything but once you get it going you can do very well with residual income from brand licensing now last but not least you can create apps so apps of course are very popular now more more people are getting smartphones and you can create apps for Apple phones Android phones and Google phones apparently Google has phones now so you can go to say developer Apple calm and look for submitting your app to the store you can search this in Google it will come right up but and it talks all about how to get an app published on the App Store they have another one where you can do all this for Google Play which is where you download Android apps so do this for Apple and Google Play if you want to publish an app and these apps can make quite a bit of money because people are there on their phones all different times of day there are different countries there in different time zones there’s millions and millions of people with smartphones that are always looking at new apps so if you’re good at making apps you know how to develop these and you know how to make them work well to where they will get verified and get published on these app stores then you can make a lot of money in a residual way through just people constantly downloading your apps and buying in-app purchases and clicking ads through your apps there’s a lot of way to monetize apps so you don’t you have to just have one app you can be like Zynga for instance and have a lot of different app games and just make all this money from these apps all you have to do is update them every once in a while make sure they’re working but for the most part on the income level you can make a lot of residual income so if you got something from this video if you feel like you learned about some really cool ways to make residual income please like and subscribe so I can bring you more videos like this and if you want to let me know about some other residual income ideas or opportunities that I missed in this video that you thought should have been included or you want to just let me know what you thought about the video let me know in the comments I’d love to hear from you and if you want to contact me directly if you want to get more in-depth blog posts on this information you want to get some courses or tools that you can use to actually do this step by step and make these types of businesses work then you can go to self-made success.com and other than that I hope you enjoyed the video and I hope you have a great day you