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How to Start a Passive Income Today! | Passive Income Ideas

Want to create passive income but don’t
have any money to set it up? I’ve got three strategies you can start
today that cost nothing and will make you money every single month. Just one of these alone can make you thousands
in passive income. We’re talking passive income with no money
today on Let’s Talk Money! Beat debt. Make money. Make your money work for you. Creating the financial future you deserve. Let’s Talk Money. Joseph Hogue with the Let’s Talk Money channel
here on YouTube. I want to send a special shout out to everyone
in the community, thank you for taking a little of your time to be here today. If you’re not part of the community yet,
just click that little red subscribe button. It’s free and you’ll never miss an episode. We’re wrapping up our three-part series
on passive income streams and this one is going to be my favorite. We’ve already ranked those 18 passive income
ideas in our first video, detailing each, and then walked through three great passive
income investments in our last video. Now I’m going to reveal three income sources
you can set up with no money and start making a monthly income immediately. That’s where I started with my blogs in
2013. I created three blogs from scratch, boot-strapped
everything on no budget. It gave me the opportunity to learn that business
of blogging and I now make over ten grand a month through online assets. Let’s get to those three income ideas because
I guarantee there will be something in here that is going to boost your bank account and
something you can get started on today. I’ve left an index in the video description
to when each starts but sit back and watch all three because we’ve got some solid income
strategies here. Our first idea is going to be setting up bundle
deals for a percentage of the sales. You see these more commonly around Christmas
but you can run them any time of the year. Basically it’s a bundle offer of books,
courses or other products, usually from different people. For example, you might create a bundle of
10 business books or five courses to help people grow their online income. The bundles are sold at big discounts compared
to buying each product separately, like a 50% or more discount. Most of these bundles you’ll see are sold
for between $50 to $100 so it’s just a great value and affordable for anyone. Not only is it a great value but you also
sell it for a limited time, like five days, so you build that sense of urgency and sales
for these things are always through the roof. As the organizer here, you reach out to authors
and course creators to see if they want to be included in the bundle. Besides the money they’ll get, which we’ll
talk about next, they also get access to new audiences so it’s a great way to make follow-on
sales. Payout on sales goes like this, you provide
trackable links to each person in the bundle. They get a 70% commission on any sales from
people that click on their links. You can also sign up bloggers and social media
influencers to help advertise and give them 40% of sales on their link even if they don’t
contribute to the bundle. This way, you get lots of people advertising
the bundle offer. You send out images they can use as banners
on websites or just social media posts they can make to promote. With the huge discount on the bundles and
limited time, these things get hundreds of sales minimum and you get a commission of
thirty- to sixty-percent on each sale for putting everything together. Even on an inexpensive offer of $50, that’s
upwards of $30 each. You don’t have to create any products yourself,
you didn’t have to do much marketing, it’s all for organizing the offer. You’ll need a basic landing page or a blog
page to advertise the bundle and that’s it. You can deliver courses through a free account
on Teachable or just deliver everything by email. It’s a great no-cost income stream you can
re-launch every couple of months. Let’s move on to our other two passive income
ideas but first I want to get your feedback. If you want to see more videos on making passive
income and making money, let me know in the comments. Just scroll down and share in the comments
what types of videos you want to see. This next passive income idea is something
we’ve never talked about on the channel but a great way to get started by writing
for bloggers and affiliate marketing. There’s a strategy for bloggers called guest
blogging where you write a post for another person’s blog to get links pointing to your
blog. It’s a good way to reach more people and
build up the Google value for your site. In another strategy we’ve talked about called
affiliate marketing, you add links to your blog to affiliate products. If someone clicks on your link and makes a
purchase, you get a commission, usually 30% or 40% of the sale. Well here we’re going to be combining these
two strategies for that affiliate marketing but without the work of having your own blog. How it works is you reach out to other bloggers
to write for them. A lot of bloggers pay upwards of two or three
hundred dollars to freelance writers but instead of charging for the post, you’re going to
ask for a link to a landing page. The landing page is just a web page you have
set up on a site that talks about the affiliate product or service. You can even offer some kind of freebie to
get them to sign up first and then send out emails promoting the product. I love this idea because you don’t need
a big website or blog to use it. You might create a basic site with a page
about yourself and maybe a resources page but it’s really just a site of different
landing pages for each of the affiliates you’re partnering with. This is a great one to combine with the affiliate
funnel system we talked about in a recent series. I’ll leave a link to those two videos and
the checklist on creating that system below this video. One of the biggest challenges for new bloggers
is all the time each week to create blog posts and promote on social media. With this strategy, you don’t have any of
that because you’re really not trying to build up your blog. You’re just using it as a home base for
your affiliate marketing. Starting a blog will cost less than $3 a month
with the special deal I’ve negotiated with Blue Host for webhosting and that’s all
the costs you’ll have. You can find bloggers in topics related to
your affiliate products by doing a Google search for blog lists then just start reaching
out by email. This is one that really builds on itself because
those articles on the blogs stay live forever. Create a few posts each month for other bloggers
and each one will start generating passive income for years after it’s published. We’ve got one more passive income idea and
it’s one of my favorites. First though, if you’re likin’ the video
and think it’s helpful, do me a favor and tap that thumbs up button below or share it
with someone you care about that could use a little extra cash. Our third passive income source, creating
YouTube compilation videos, is something we’ve talked about before but I just had to highlight
it again because it’s such a great no-money strategy. If you spend any time on YouTube, you see
your share of videos that are just a collection of video clips. Search for anything like animal videos and
you see these get millions of views and the channels have millions of subscribers. So while the rest of us yahoos are busting
our butts, spending hours creating videos and editing, these channels are proving the
rule of working smarter not harder. And just so you can see how much you can make
with this. I average about a penny per view from YouTube
ads plus I sign sponsorship deals for the videos. Personal finance is a money-making niche so
these compilation video channels might only be getting around a third of a penny per view
but they’re hitting millions of views on each video. You look at this Tiger Productions which looks
like just a bunch of kid and pet videos, they’ve got over 2.8 MILLION subscribers and over
a billion views so even at the low end, we’re probably talking around three million dollars
in ads on the channel. And you can see some of these videos are just
insane, 22 million, 52 million, 134 MILLION VIEWS! I actually thought these compilation videos
were against YouTube rules at first because all they’re doing is copying other videos. Turns out this is a legit strategy called
creative commons. When you upload a video to YouTube it can
either be restricted usage or creative commons which means other people can use it. So these compilation channels are just repackaging
other videos for their own, getting millions of views and making boatloads of money in
the process. That’s how this income strategy is completely
cost-free. You pay nothing to create a YouTube channel. You get these video clips for free and you
can edit everything on free software. So let’s run through an example to show
just how easy it can be to do one of these videos and make money this way. Say you want to do a funny cat video, because
if there’s one thing that always goes viral…it’s funny cat videos. So you type in your search, you see some videos
pop up and then you go to filter and click on that creative commons under features. Now you can click through to any of these
videos and if you look in the description, you’ll see creative commons reuse allowed. The process for grabbing some of these videos
for your channel is super easy. One thing though is that you want to create
compilations, so clips from different videos. You don’t want to just grab videos and upload
them as your own. You’re going to be putting several clips
together all in the same topic to make your own super-video that will get those millions
of views. After you do a search for the videos you want,
and you want to copy down the URL address for each. Then you can do a Google search for YouTube
to MP4 converter which is going to snatch the video file and download it to your computer. With these full videos, you can use any editing
software to cut the clips and put them together. I use Camtasia but there are a lot of free
video editing programs you can use as well. You want to cut the clips out, maybe add some
graphics like a countdown. You also want to edit out any music if it’s
in the original video and this part’s important. The video might be creative commons but that
doesn’t mean the music is so strip that out. You can add in your own music from the free
files available on YouTube which is an excellent resource for any type of channel. When you publish your video, it’s good practice
to add a link in the video description to the original videos where you got the clips. I couldn’t find anything on YouTube that
said this was required but it’s just accepted practice. It’s also something that will help your
video get views though because if YouTube sees people watching these other videos and
yours together, it will start suggesting them together so you’ll start getting views when
the other videos do. That’s the basic process but I’ve got
a few more tips here to boost your views and help you make even more money. First is don’t forget basic SEO for the
videos. If you look on most of these videos, they
have next to nothing in the description. This area is gold for telling YouTube what
the video is about so write out a couple of paragraphs here using keywords to help YouTube
understand your video and serve it up to people that will watch. You also want to include some affiliate links
or some Amazon affiliate links. Maybe you affiliate with a couple cat food
or pet toy companies and put the links in the video description. Anything with a million views is going to
have a few tens of thousands of people looking in the description and could be a few grand
just in affiliate commissions. You can get it to where it might only take
you an hour or two to put together each of these compilation videos. Even on those lower Youtube ad rates, you
can make hundreds a day on less than 100,000 views and that’s not including affiliate
sales you make or those videos that go viral. Don’t forget to check out that first video
in the passive income series where we rank each passive income stream and talk through
each. I also posted one talking about passive income
investments that will get you started fast and making money immediately so I’ll leave
a link to the playlist in the video description below. We’re here Mondays, Wednesdays and Fridays
with the best videos on beating debt, making more money and making your money work for
you. If you’ve got a question about money, just
subscribe to the channel and ask it in the comments and we’ll answer it in a video.

About Ralph Robinson

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