Note: I realize that this blog post is all over the place, but I intend to keep it that way. This is mostly just to get my thoughts out on passive income. I doubt that this article will generate a lot of traffic. It’d be a miracle if I got to 100 views on this post.
I’m thinking about taking up passive income more seriously. My website has only generated a little money through AdSense. I know that there is a lot to do in terms of SEO and content in order to generate more money. But, I haven’t gotten down to the basics of how to continuously generate passive income month to month through blogging. I’m clueless as to where to start.
I know that it’s possible to make money off of your blog such as through people like Steve Pavlina. (Though Steve Pavlina stopped using AdSense, he uses affiliate marketing and donations to make money through his blog. And nowadays, he sells online courses too.) Steve suggested that I create a digital product too on music production, but I wasn’t sure how to teach music production nor figure out the logistics of it.
I think I could start somewhere simple like creating a music album or by simply returning to blogging again. But honestly, I don’t think either idea will make a lot of money unless I go through some serious marketing strategies. My music YouTube channel is only close to 700 subscribers, so potential profit is limited there.
Besides making passive income, I’d want to make sure that I’m providing enough passive value to earn that money. I’d want to make sure that whatever I am providing is worthwhile and is beneficial for the end user. Blogging fulfills that for me, though I don’t generate lots of traffic and I don’t earn lots of money through my current means (ads and Amazon product links, though I don’t think those links are generating income for me anymore since I haven’t ever made money through it and Amazon closes your account within 6 months of not generating any income).
Creating an online course seems to be the way to go. Though, I’m not sure what course to offer just yet. It could be on music production, but for something like GarageBand, I don’t know if it would generate many sales. I could see something like a music production course on LogicPro working out because those individuals are more serious about music making. But right now, I don’t use LogicPro on my computers.
I could also start up my YouTube channels again, though that hasn’t generated much income either. For song covers, my videos get demonetized and don’t generate any income at all as a result. My other videos haven’t garnered a lot of views either, so the ads don’t collect much money. I haven’t been in the mood to create vlogs or something or the sort.
I’ve dabbled with eBooks, but that hasn’t make much money either. I get a sale here and there through the year, but you could barely call it sizable income. It’s enough for spare change to buy snacks at Five Below. Then again, I haven’t aimed to write bestsellers. I’ve mostly been experimenting with it if anything.
So basically, I’m battling a few issues here. The first is that my knowledge of generating passive income is fairly limited to the basics. The second is lack of motivation to create certain kinds of digital products that will generate passive income (e.g. eBooks).
I wish that I could find some way to make passive income in a way that excites me. I haven’t blogged in a while, but that’s because I haven’t figured out what to write about. Every time I sat down to write, ideas would poof out of my head and I would stumble upon words to write and get nowhere fast. Even as I’m writing this blog post, I am stumbling over my words, not sure exactly what to write. But at least for now, blogging seems like one thing I could do in my pursuit to making passive income. I just have to figure out exactly what I’m going to write about in future blog posts.
I’d like to create an online course, though I’m stuck on the creation process. What should I teach? How much should I charge? What platform should I use, my own website or another website like Teachable? It’d be nice to set it up on my own website, though I’d have to go through the learning curve of setting up a course with usernames and online payment methods. I’d have to figure out the specifics. And honestly, that can be daunting, so maybe selling a course through a website like Teachable is better suited for me. It’d make less money, but the tradeoff is that it’d probably generate more traffic anyway than what I can make on my own website using the limited knowledge I have now.
I have to brush up on my resources for passive income generation. What I know so far is through websites such as Steve Pavlina’s. So, I’ve only dabbled into it. I don’t know much about passive income otherwise.
Real estate is another passive income opportunity, though it depends on what kind of real estate deal it is. I don’t have anywhere near the kind of money to make a significant investment that can be largely passive (such as buying 50 units in a prime location and hiring someone to manage the properties). My father suggested that I get my real estate license so that I can make money buying/selling properties for people while also being able to score on real estate deals that come my way, but it seems like a lot of work.
Passive income doesn’t necessarily have to be a lot of work. It can start off as something fun and evolve to make money over time, especially nowadays with the internet. Passive income can be simple. But generating lots of passive income seems to take time. I know people have made passive income “overnight” through creating online courses and whatnot, which is why it kind of appeals to me. But if passive income were that easy, everyone would be making it, right?
So anyway, there is my little rant on passive income and some ideas I’ve been thinking about in order to make it. I’m not sure where I’ll start and which direction I’ll go. I think I’ll see if I can make progress on the few cents I’ve generated through AdSense. I’m not sure if I’ll restart Amazon affiliate links, since the barrier is that I need to generate at least one sale to keep my account active, and generating that one sale has been a struggle so far. My Amazon affiliate account keeps closing, which means I have to generate a new username and new links each time to however many videos/blog posts I’ve been using them in. It’s a hassle. I’m not sure why Amazon does that. It’s better to keep the account active if someone has been clicking the links. But either way, I’ll be using AdSense at the very least.
I don’t have many friends who actively pursue passive income. So in terms of having a mastermind group on passive income, I’m starting from scratch here. If you or anyone else is pursuing passive income and would like to start some sort of mastermind group around it, feel free to contact me. We could start something together. Though be warned, I am quite a newbie when it comes to passive income. So, there isn’t much I could share with you other than ideas and letting you know what other people have done to generate passive income. It’s a start though, right? Better somewhere than nowhere.