Make Money Archives - The Money Snowball https://www.themoneysnowball.com/category/make-money/ Financial Freedom with an Income Snowball Mon, 21 Dec 2020 14:48:36 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.1 https://i0.wp.com/www.themoneysnowball.com/wp-content/uploads/2017/05/cropped-Icon_dark-1.png?fit=32%2C32&ssl=1 Make Money Archives - The Money Snowball https://www.themoneysnowball.com/category/make-money/ 32 32 122889838 Make Extra Money Fast: 9 Simple Steps (You’ve Got to Try) https://www.themoneysnowball.com/make-extra-money-fast/ https://www.themoneysnowball.com/make-extra-money-fast/#respond Tue, 03 Apr 2018 08:45:52 +0000 https://www.themoneysnowball.com/?p=1605 Want to make a little extra money but don’t have the time?  Don’t worry.  You’re covered with these nine ways to make extra money fast.  Most are from everyday things you’re already doing! Bonus Material: Free Passive Income Calculator Who wouldn’t like a little extra money every month? The problem is you don’t have a lot …

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Want to make a little extra money but don’t have the time?  Don’t worry.  You’re covered with these nine ways to make extra money fast.  Most are from everyday things you’re already doing!

Who wouldn’t like a little extra money every month?

The problem is you don’t have a lot of spare time.

If you’ve already got a side hustle going, there isn’t much free time to go around.

Finding ways to make extra money fast without having to do much is the holy grail.

It’s not going to make you rich but it will give you a few more dollars to pack onto that money snowball.

Here are 9 steps to make extra money fast:

Make Extra Money Fast

1. Get a Free Money Saving Assistant

Use AskTrim to make extra money fast

Tell me if this sounds familiar…

You sign up for cable and lock in a great internet rate. A year later you notice your bill has doubled.

What happened? You were Comcasted.

Comcast is notorious for jacking up prices without any notice.

It’s a “service” most cable companies provide free of charge.

Trim is here for the rescue.

Think of Trim like your money making assistant.

Trim works in silence to find you extra money.

It can:

  • Cancel subscriptions you never use
  • Negotiate for lower Comcast bills (YES!!)
  • Find better car insurance
  • Negotiate for a lower cell phone bill
  • Get you cash back when prices drop for stuff you bought on Amazon

It’s literally a money making assistant.

2. Maximize Your Savings Interest

Make extra money with a higher interest rate

We’ve all got money stashed away in a savings account.

Hopefully, you’ve got a nice emergency fund that’s sitting there waiting for the day when you might need it (fingers crossed that day never comes).

In the meantime, it’s sitting there earning you nothing.

Interest rates on savings accounts are next to nothing.

That’s where Max My Interest comes in.

Max My Interest will work in the background to find the banks with the best online savings rates.

It will then notify you of the higher rate.

You can transfer the money yourself or have Max My Interest do it automatically.

All you do is sit back and see your emergency fund grow even faster.

3. Start a Carpool Service

Make extra money fast on your commute

You’ve heard of using Uber or Lyft as a way to make extra money. The problem is it’s not fast and takes a lot of time.

The goal here is to find things that make money without using spare time

Well, you’ve got to commute to work, why not make some money while you’re at it?

Uber and Lyft both have what is called ‘Destination Mode.’ You plug in where you’re going and then pick up riders that are heading the same direction.

You can do this on your way to work and on your way home.

It will take a little extra time, but it’s more of a minor inconvenience than wasting time.

Lyft will even give you a $300 bonus after your 100th ride.

4. Start Making Money with Every Purchase

Earn cash back with your credit card

If you’re like most people these days, you buy everything with a credit card.

Have you ever thought about which credit card you’re using? Or why you’re using it?

Most likely it’s because of the bank you use. Or you signed up for it at your favorite store.

If that sounds familiar you’re losing out on money right now.

There are credit cards out there that will pay you for using it.

U.S. Bank has the Cash+ card that will get you 5% cash back on two categories of your choosing. Plus an extra 2% cash back on a third category.

Another great option is the Chase Freedom Unlimited.

It will give you 1.5% cash back on every purchase you make.

You’ll even get a $150 bonus after spending $500 in the first 3 months.

Which brings me to another easy way to make extra money fast…

5. Sign-Up For a Credit Card

Applying for a Chase Freedom Unlimited card

This one is going to take some discipline on your part.

You have to be smart!

So many credit cards offer amazing sign-up bonuses if you spend a certain amount within the first few months.

I mentioned the Chase Freedom Unlimited card offering $150.

There is another Chase card (Chase Sapphire Preferred) that offered a $1000 bonus!

Most of the really good cards have an annual fee, but, like the $1000 bonus, it’s much less than what you’re getting.

This is an easy way to make extra money fast but you’ve also got to pay attention.

Getting into credit card debt will destroy any bonus you earned from the sign-up.

You’ve also got to make sure to cancel cards that have an annual fee before your card anniversary. You don’t want another fee charged.

And, just in case you’re wondering, none of this will hurt your credit score in the long run. If anything it will make it better.

6. Sign-Up for a Checking/Savings Account

Similar to the credit card hustle, many banks offer a money bonus to get you to join.

I recently took advantage of a $400 sign-up bonus at Key Bank.

The rewards won’t be quite as high as credit cards, but you also don’t need to worry about canceling cards, late payments, or annual fees.

Most of the time you need to make a couple direct deposits and you’re done. The bank will automatically put the bonus money into your account.

Doctor of Credit keeps a monthly list of the best bank account bonuses.

7. Get Paid Even More with Every Purchase

With #5 your credit card company will pay you a certain % for every purchase you make with their card.

Well tack onto that a few extra percentage points with Dosh.

With Dosh, you link your credit card to the app. When you use your card for everyday shopping, it automatically finds cash back opportunities.

The app applies those cashback dollars to your Dosh account which can be transferred to your bank.

All of a sudden you could be getting 10% cash back from both Dosh and your credit card. Not bad!

They’ll even give you $5 right now when you download the app and link your card!

8. Don’t Forget about Online Cash Back

Active cash back from Chrome Ebates extension

While Dosh is for offline purchases, Ebates is for online purchases.

If you go through the Ebates portal to buy anything online, you’ll get cash back.

The amount depends on what store you’re buying from. Some are only a couple percent. Others can be up to 25%!

They even have a Chrome extension that will notify you when you’re at a website that has an Ebates offer.

Click the extension button and you’re all set. Money added to your Ebates account that can be transferred to your bank at any time.

Right now you get a free $10 bonus just for signing up!

9. Take a Picture of Your Grocery Receipt

Make money shopping with the iBotta App

We’ve talked about using Ebates for online shopping.

We’ve talked about Dosh for offline shopping, but the one weakness in Dosh is it doesn’t do a whole lot at grocery stores.

This is where Ibotta comes in.

With Ibotta you snap a picture of your receipt and it pays you money. That simple.

Technically they want you to look at the app to find great deals BEFORE going shopping.

I think that’s a sneaky way to get people to buy more stuff because it’s a “great deal.”

You can do that if you want, but I recommend just taking a picture after you do your normal shopping.

There might be some great deals in what you bought, there might not be.

Some trips will only earn you a few cents. Others will earn a few dollars.

Over time it all adds up to extra money in your pocket.

Right now, get $10 free for signing and using the app.

Conclusion

There you go, 9 steps to make extra money fast.

Some need a little bit of leg work while others pay you for doing what you do every day.

It’s not going to make you rich right away, but it will eventually.

Have you tried any of these?  Do you have any other ideas of how to make extra money fast?   Let me know.  I’m always up for learning about a good side hustle.

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How to Become a Notary: Earn $200 Per Hour (in your spare time!) https://www.themoneysnowball.com/become-a-notary/ https://www.themoneysnowball.com/become-a-notary/#respond Tue, 27 Feb 2018 09:25:25 +0000 https://www.themoneysnowball.com/?p=1397 Does it get much easier than getting paid to watch someone sign a few papers? Didn’t think so. Learn how to become a notary and get paid up to $200 per hour in your spare time. Bonus Material: Free Passive Income Calculator There is a good chance you’re going to need a notary at some point …

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Does it get much easier than getting paid to watch someone sign a few papers? Didn’t think so. Learn how to become a notary and get paid up to $200 per hour in your spare time.

There is a good chance you’re going to need a notary at some point in your life.

Buying a new home? Going to need a notary.

Creating a will? Going to need a notary.

Giving power of attorney to your kids? Need a notary.

A Notary Public is a person with integrity. They are appointed by the government so that tells you their level of importance.

Notary’s serve as impartial witnesses for a host of fraud-deterring acts related to signing important documents.

How To Become A Notary

Signing mortgages, creating a will, granting power of attorney…those are all documents that need to be signed with a notary public present.

They also ensure that someone isn’t signing something under duress. Making sure that someone being blackmailed isn’t signing over a house.

You might be thinking “so they just sit and watch people sign documents?” Pretty much.

It doesn’t sound like a lot, but the position holds a lot of importance.

And for that reason, there is a hefty fee associated with having a notary public present for document signings.

That’s where you can make $200 per hour as a notary.

How to Make Money as a Notary

One of the best ways to guarantee paid gigs as a notary is by becoming a loan signing agent.

A loan signing agent is a notary public that is present when loan documents are signed.

When someone purchases or refinances a home, a loan signing agent walks them through the final paperwork signing.

They’ll print off all the papers, meet the borrowers, and have them sign the papers.

After that, they’ll send the documents to the lender and collect their fee.

That simple process of printing documents, watching someone sign papers, and then dropping them off in the mail takes about an hour.

For that hour of simple work you can make between $75 and $200.

It has got to be one of the easiest side hustles imaginable!

Because each appointment only takes an hour, it’s also one of the most flexible ways to make money in your spare time.

First things first, though. Before you can become a loan signing agent, you’ve got to learn how to become a notary.

General Steps on How to Become a Notary

  1. Meet all your state’s qualifications (see below)
  2. Complete and submit an application
  3. Pay the state’s filing fee
  4. Get training from an approved teacher (if required)
  5. Pass a state-administered exam (if required)
  6. Complete fingerprinting and background check (if required)
  7. Receive your commission certificate from the state
  8. Get your surety bond (if required)
  9. File your commission paperwork (and bond) with your Notary regulating official
  10. Buy your notary supplies

State by State Notary Requirements

State Mandated Course: No

State Mandated Test: No

More Info for Alabama

State Mandated Course: No

State Mandated Test: No

More Info for Alaska

State Mandated Course: No

State Mandated Test: No

More Info for Arizona

State Mandated Course: No

State Mandated Test: No

More Info for Arkansas

State Mandated Course: 6 Hour Course

State Mandated Test: 30 Question Test

More Info for California

State Mandated Course: 3 Hour Course

State Mandated Test: Online, Open Book

More Info for Colorado

State Mandated Course: No

State Mandated Test: 24 Question Test

More Info for Connecticut

State Mandated Course: No

State Mandated Test: No

More Info for Delaware

State Mandated Course: Yes, Free Course

State Mandated Test: Self Assessment Test

More Info for Florida

State Mandated Course: No

State Mandated Test: No

More Info for Georgia

State Mandated Course: No

State Mandated Test: Yes

More Info for Hawaii

State Mandated Course: No

State Mandated Test: No

More Info for Idaho

State Mandated Course: No

State Mandated Test: No

More Info for Illinois

State Mandated Course: No

State Mandated Test: No

More Info for Indiana

State Mandated Course: No

State Mandated Test: No

More Info for Iowa

State Mandated Course: No

State Mandated Test: No

More Info for Kansas

State Mandated Course: No

State Mandated Test: Yes

More Info for Louisiana

State Mandated Course: No

State Mandated Test: No

More Info for Maine

State Mandated Course: No

State Mandated Test: No

More Info for Maryland

State Mandated Course: No

State Mandated Test: No

More Info for Massachusetts

State Mandated Course: No

State Mandated Test: No

More Info for Michigan

State Mandated Course: No

State Mandated Test: No

More Info for Minnesota

State Mandated Course: No

State Mandated Test: No

More Info for Mississippi

State Mandated Course: Yes

State Mandated Test: No

More Info for Missouri

State Mandated Course: Optional Course

State Mandated Test: Yes

More Info for Montana

State Mandated Course: No

State Mandated Test: Take Home Exam

More Info for Nebraska

State Mandated Course: 3 Hour Course

State Mandated Test: Yes

More Info for Nevada

State Mandated Course: No

State Mandated Test: No

More Info for New Hampshire

State Mandated Course: No

State Mandated Test: No

More Info for New Jersey

State Mandated Course: No

State Mandated Test: No

More Info for New Mexico

State Mandated Course: No

State Mandated Test: Yes

More Info for New York

State Mandated Course: No

State Mandated Test: No

More Info for North Carolina

State Mandated Course: No

State Mandated Test: No

More Info for North Dakota

State Mandated Course: No

State Mandated Test: No

More Info for Ohio

State Mandated Course: No

State Mandated Test: No

More Info for Oklahoma

State Mandated Course: Yes

State Mandated Test: No

More Info for Oregon

State Mandated Course: eLearning

State Mandated Test: No

More Info for Pennsylvania

State Mandated Course: No

State Mandated Test: No

More Info for Rhode Island

State Mandated Course: No

State Mandated Test: No

More Info for South Carolina

State Mandated Course: No

State Mandated Test: No

More Info for South Dakota

State Mandated Course: No

State Mandated Test: No

More Info for Tennessee

State Mandated Course: No

State Mandated Test: No

More Info for Texas

State Mandated Course: No

State Mandated Test: Yes

More Info for Utah

State Mandated Course: No

State Mandated Test: No

More Info for Vermont

State Mandated Course: No

State Mandated Test: No

More Info for Virginia

State Mandated Course: No

State Mandated Test: No

More Info for Washington

State Mandated Course: No

State Mandated Test: No

More Info for Washington DC

State Mandated Course: No

State Mandated Test: No

More Info for West Virginia

State Mandated Course: No

State Mandated Test: No

More Info for Wisconsin

State Mandated Course: No

State Mandated Test: No

More Info for Wyoming

Notary Requirements

Who can be a notary?

Pretty much any adult.

It changes depending on which state you live.  In general anyone over 18 years old with no criminal background and is a resident of the state can become a notary.

How much does it cost to be a notary?

Depends on your state.  It can range from $100 to a few hundred.

The filing fee is usually pretty cheap.  If your state requires education or an exam, things can get more expensive.  

There is also the cost of supplies and your bond (if one is needed).

Find your state in the table above for a link to each state’s requirements.  You’ll get a better idea of the costs there.

Do I need a background check to be a notary?

Some states need a background check.

Others only require one if mark on the application that you’ve been convicted of a misdemeanor or felony.

To become a loan signing agent, you’ll need to take a separate background check.  This is separate from becoming a notary.

What notary supplies are required by the state?

In general you need: certificates, a stamp, and a journal.

The stamp is a seal that you use on certificates to certify the documents.

A journal is there for your record keeping and keeps track of your notarizations.

Some states don’t require that you keep a record, but it’s a best practice that all notaries should follow.

Notary Supplies

Notary Training

Does my state require notary training?

Another state by state requirement.

If your state does require training, it must be approved by the state.

How long will it take to complete the course?

The courses are typically short. My research couldn’t turn up any required course that took longer than a day to complete.

Most took only a couple hours. Some states even offer online courses that can be completed at home.

How much does notary training cost?

It varies. If the training does have a cost, it is typically less than $200.

Most of the required trainings are free.

Notary Exams

Do I need to take a notary exam?

See the table above. As always, go to your states website to see their requirements.

Most do not require an exam.

How long will the notary exam take to complete?

If your state does require an exam, it takes around an hour to complete.

Some states will include fingerprinting at the completion of your exam.

Bonds and Insurance

Will I need a Notary Bond in my state?

Most states do require a surety bond. The amount that is required varies widely.

The amounts can vary from $500 all the way up to $25,000.

The surety bond protects your customers. If a mistake is made for some reason, the bond is there to pay for damages. You then repay the bond company based on their repayment schedule.

Is notary Errors and Omissions Insurance Required?

While a Notary Bond protects the customer, Errors and Omissions Insurance protects the notary.

States don’t require insurance because their concern is for the customer. That’s why most of them require a Notary Bond.

Notaries should consider buying insurance to protect themselves in case of a mistake.

Notary Commission

Who regulates notaries?

Notaries are regulated by the state. Most of time it is handled through the Secretary of State’s office.

How long does it take to become a notary?

Depending on your state, it can take a couple weeks.

If your state requires training and exams, the process can take a while longer. Sometimes up to a couple months.

Where will I be able to notarize?

You can notarize throughout the entire state you’re authorized in.

Who can I notarize for?

Anyone and everyone. At least anyone with a legitimate and legal request for a notarization. They also need to have an acceptable ID.

How long is a notary term?

Once you’re certified as a notary, the term typically lasts 4 years. After that time you need to renew your certification.

Some states have a longer certification period. Check with your state for specifics.

Why is the notary process different in every state?

Because notaries are not governed at the federal level, each state can write their own policies.

They typically arise because of lawsuits or damage to the public.

When that happens, a state will enact laws to protect consumers.

You're a Notary, Now What?

You’ve taken the required tests, exams and background checks.

Now what do you do to start making money? Find customers!

This is when you start down the path of becoming a loan signing agent.

Why is Loan Signing Such a Great Side Hustle?

How to Become a Loan Signing Agent
  1. It’s great money. $75 to $200 an hour is amazing. If you were able to earn that at a full-time job, that would be between $150,000 and $400,000 a year!
  2. You can do it part-time. Most signings occur in the evenings and on weekends. Since you set your schedule, you can do it whenever you’ve got free time.
  3. It takes little to no experience. No interview or resume necessary. Most people look for agents based on how close they are.
  4. You can work from home and take advantage of great tax write-offs.
  5. You can make money almost immediately. Find a signing opportunity and get paid within a few days.
  6. No degrees necessary. Once you’re a certified notary public, you’re ready to go!
  7. Very low start-up costs. The most expensive purchase is a decent printer.
  8. No selling. You don’t need to entice customers to use you. The customer needs to sign some documents and they come looking for you. They’re required to use someone like you!
  9. You can learn to be a loan signing agent and be up in running in a couple weeks.

How to Become a Loan Signing Agent

After becoming a registered notary, you’ve pretty much become a loan signing agent.

Loan signing agents are different than a notary public in the knowledge they have.

All loan signing agents know about loan documents while not all notary publics do.

This is the key part to becoming a loan signing agent.

You’ve got to know the documents inside and out so as to answer any questions the customer has.

Learning the documents can be a bit time consuming.

That’s why taking a course is such a good idea.

The best one out there I’ve seen is the Loan Signing System by Mark Wills.

About the Loan Signing System

Mark has done over 10,000 loan signings and even hires thousands of notary signing agents every year to conduct signings.

He’s taken the knowledge gained over 15 years in the business and funneled it into this course.There are three different course options:

  • Fundamental Course
  • Professional Course
  • Six Figure Course.

The Fundamental Course will teach you the basics: what a set of loan documents look like, how to get signings, video of a signing in action, and a private Facebook group for support.

The Professional Course teaches everything in the Fundamentals Course plus: how to get the highest paying loan signings, how to get signings from escrow officers, and how to get repeat signings by packaging loan docs.

Finally, the Six Figure Course has both the Fundamentals and Professional information with 120 days of ongoing mentorship, First American and Fidelity approval packages, training from escrow officers and mortgage professionals.

Most people could probably get away with the Professional Course.

The big thing to learn is how to get the highest paying loan signings. Those that are up to $150 and $200+.

You get those rates by working directly with escrow officers.

Where it looks like there is a lot of value in the Six Figure Course is the ongoing mentorship and the First American and Fidelity approval packages.

First American and Fidelity are the largest title companies in the United States. Instead of figuring out how to sign up with both on your own, the Six Figure Course lays it out for you as easy as possible.

Conclusion

This might be one of the best side hustles I’ve come across.

Making $200 per hour doing a job that requires no degree or long, specialized training.

After a class or two, you’re making great money in your spare time. The cost of taking a course like the Loan Signing System is made up in just a couple gigs.

If you’re someone that likes their day job but wants to make some good money on the side, I think this is the perfect opportunity.

 

Have you ever thought about becoming a notary?  Did you know it was such an easy way to make money?

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Udemy Courses: The 14 Best to Make $1,000 (Or More) https://www.themoneysnowball.com/udemy-courses/ https://www.themoneysnowball.com/udemy-courses/#comments Tue, 30 Jan 2018 09:42:17 +0000 https://www.themoneysnowball.com/?p=1097 Stop wasting time. If you want to learn how to make money, go straight to the source. Here are 14 of the best Udemy courses that will teach you, step by step, how to make at least a $1,000 per month. Probably more. Bonus Material: Free Passive Income Calculator So you want to make money online …

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Stop wasting time. If you want to learn how to make money, go straight to the source. Here are 14 of the best Udemy courses that will teach you, step by step, how to make at least a $1,000 per month. Probably more.

So you want to make money online but found the whole process daunting.

It’s hard to choose an idea.

Then, once you choose the idea, what do you do next?

You could spend months and months researching and still not be any closer to earning a single dollar.

If only there was a course that could teach you, step-by-step, how to make money online.

Enter Udemy Courses.

Udemy Courses: 14 of the best to make $1,000 or more

What are Udemy Courses?

What is Udemy?

Udemy is a worldwide marketplace of teachers and instructors.

Anyone with knowledge of a topic can set up a Udemy course.

They build the course and then offer it to the world. People wanting to learn find the course and take it.

Think of these as virtual elective classes.

Most of us had electives in high school. Those classes that we got to choose that were outside the standard curriculum.

Well Udemy courses are elective learning for life.

They’ve got courses in Pet Care & Training. Courses in learning a language. They even have a hypnotherapy certification course.

Among the 65,000 courses they offer are some great ones on making money online.

Here are 14 of the best courses on Udemy that will have you making money in no time.

How to Become a Bestselling Author on Amazon Kindle

Learn To:

  • Write your book and publish it on Kindle
  • Become an Amazon Bestseller using KDP Select free promotion
  • Format you ebook for Kindle and publish on Amazon
  • Create a long-term career as a self-published Kindle author

Instructor: Tom Corson-Knowles

Reviews: 4.4 Star Rating; 1,008 Reviews; 36,898 Students Enrolled

Sample Review:  “The start to this course felt strange, with the recorded session of a class, BUT now that I’m further into it, there is a TONNE of EXCELLENT information provided, in clear step by step process. The teacher speaks a little fast at times, but that mostly feels like enthusiasm for the message in the lessons.” -Lori Grace Petroff

Ebay Drop Shipping Guide with No Inventory - Work From Home

Learn To:

  • Understand the core concepts of drop shipping
  • Start a drop shipping store within a few hours
  • Learn the formulas to making profits
  • Create systems for self sustainability

Instructor: David Vu

Reviews: 4.6 Star Rating; 6,821 Reviews; 31,978 Students Enrolled

Sample Review:  “This course is a MUST HAVE for anyone who is thinking about starting a drop shipping business or who is in the early stages of their business.

The instructor, David Vu is an engaging individual who is very open, willing to share tips and traps, and provides a thorough and easy to understand method for starting or improving your drop shipping business.

Before I found David’s Udemy course, my business struggled. After I finished the course, I deployed what I learned and dramatically improved my business and the profits derived from it.

Thanks DAVID !!!

Etsy 101: Set Up a Shop and Promote It on Social Media

Learn To:

  • Understand the core concepts of drop shipping
  • Start a drop shipping store within a few hours
  • Learn the formulas to making profits
  • Create systems for self sustainability

Instructor: David Vu

Reviews: 4.6 Star Rating; 6,821 Reviews; 31,978 Students Enrolled

Sample Review:  “This course is a MUST HAVE for anyone who is thinking about starting a drop shipping business or who is in the early stages of their business.

The instructor, David Vu is an engaging individual who is very open, willing to share tips and traps, and provides a thorough and easy to understand method for starting or improving your drop shipping business.

Before I found David’s Udemy course, my business struggled. After I finished the course, I deployed what I learned and dramatically improved my business and the profits derived from it.

Thanks DAVID !!!

How to Start an Amazon FBA Store on a Tight Budget

Start an Amazon FBA on a tight budget

Learn To:

  • Leverage the Amazon platform to create a full-time living or much, much more
  • Know where and how to source these items at pennies on the dollar
  • Use a specific set of rules to uncover the easiest and most profitable items to sell
  • Be able to get stock and start selling even when on a tight budget

Instructor: Theo McArthur

Reviews: 4.7 Star Rating; 3,493 Reviews; 16,734 Students Enrolled

Sample Review:  Theo explains clearly each step, and she is concise and to the point. She provides enough info about pitfalls of the steps, so you avoid mistakes along the path.

The course is well constructed and simple to follow.

Theo frequently update some lectures when required, and she adds more lectures when there is something new in the market.

Online Marketing Business: Create Your Agency, Step-by-Step

Learn To: 

  • Get your first client (and first paycheck)
  • How to create a profitable business from day one
  • What tools you’ll use on a daily basis to manage and grow the business
  • How to scale the business and free your time up for other pursuits

Instructor: Sean Marshall

Reviews: 4.4 Star Rating; 487 Reviews; 5,675 Students Enrolled

Sample Review:  “Course seems very practical. I like Sean’s style. He’s honest about the hard work necessary to succeed. He gives great info from his experience.

Kindle Launch Plan: Publish and Market an Amazon Bestseller

Learn To: 

  • Launch a Bestselling Book on Amazon
  • Drive Email Sign-Ups From Your Book
  • Choose the Right Keywords and Categories to Find More Buyers
  • Generate More Exposure on Amazon w/ Simple Content “Hacks”

Instructor: Nick Loper

Reviews: 4.2 Star Rating; 233 Reviews; 4,092 Students Enrolled

Sample Review:  “This course shows a step by step process of writing, publishing the book an promoting it, i have found alot of help from it, its my first time to self publish and from the skills i have got here, i know am gonna hit it, highly recomend it to others

Start an Online Business on Amazon FBA, Dropship, Wholesale

Start an Online Business Dropship and Wholesale

Learn To: 

  • Go from square one to a full-time online business
  • Find Drop-Ship or Wholesale Suppliers from my Personal Supplier List of over 1,700 vendors
  • Sell across multiple marketplaces (Amazon, Ebay, Sears, Buy.com, Overstock, and more)
  • How to sell internationally

Instructor: Anthony Monfet

Reviews: 4.3 Star Rating; 627 Reviews; 14,423 Students Enrolled

Sample Review:  “Instructor is clear and keeps to the point. I like the structure of breaking the material in to smaller chunks. I feel that I have learned much more than I knew coming into this course, and I feel more confident to go further. I can tell there was thought put into what content should be included in the course. Nice! Definite value for $$. Instructor definitely loves to share information.

Copywriting - Become a Freelance Copywriter, your own boss

Udemy Course on How to be a copywriter from home

Learn To: 

  • Everything you need for a fast-track start, including your first article
  • Copywriter’s “how-to”: sales, copy, expert copy, and more
  • The essential skills that mark out a real pro
  • How to boost your income and turn your new website into a money magnet

Instructor: Len Smith, Sean Kaye

Reviews: 4.6 Star Rating; 934 Reviews; 25,218 Students Enrolled

Sample Review:  “Loved the course! I will be going through it again as suggested to make sure everything sinks in, but I learned a lot. There are a lot of downloads and resources too. Excellent!

Advanced: Make and Sell Custom Shirts Using Merch by Amazon

Learn To: 

  • Create a Merch by Amazon account
  • Understand the digital file requirements for shirt design
  • Create your own Amazon aStore to market Merch by Amazon shirts
  • Use the Merch by Amazon platform to create your own shirt designs available for sale on Amazon

Instructor: Chris Green

Reviews: 4.4 Star Rating; 665 Reviews; 17,301 Students Enrolled

Sample Review:  “At first I wasn’t sure if the info would be good, due to the initial presentation. But after going through the whole class, the amount and quality of the info was amazing. I had relatively all of my questions answered, and Tim really seemed to be interested in me the student, making sure I got the most bang for my buck.

Self-Publish Your Children's Book - From Start to Finish

Udemy Course to Self Publish a Childrens Book

Learn To: 

  • Independently publish your children’s book
  • Create multiple streams of passive income
  • Create, or have illustrations created for you
  • Identify high-demand elements of value and elements of enjoyment to strategically make your book a successful product

Instructor: Tim Johnson

Reviews: 4.8 Star Rating; 105 Reviews; 2,470 Students Enrolled

Sample Review:  “At first I wasn’t sure if the info would be good, due to the initial presentation. But after going through the whole class, the amount and quality of the info was amazing. I had relatively all of my questions answered, and Tim really seemed to be interested in me the student, making sure I got the most bang for my buck.

Udemy Masters 2018: Online Course Creation - Unofficial

Udemy Course on how to create successful Udemy Courses

Learn To: 

  • Create online courses that actually sell
  • Build an automated sales funnel to sell your course while you sleep
  • Validate your course idea to make sure it will be profitable
  • Design an engaging and high-quality course

Instructor: Phil Ebiner

Reviews: 4.6 Star Rating; 553 Reviews; 3,560 Students Enrolled

Sample Review:  “I really appreciate Phil’s (slow and steady) pace, which is perfect for a beginner like me. I have made one Udemy course, but can already see so many ways to improve it and the next ones. Phil has also convinced me of the need to start focusing on building my brand beyond Udemy for long-term success. Thanks Phil! 🙂

Alibaba The Complete Guide to Import from Alibaba to Amazon

Udemy Course on How to Master Alibaba and Amazon

Learn To: 

  • Find profitable top-seller products in Alibaba and sell these products on Amazon
  • Negotiate with the manufacturers in China
  • How to get free sample products directly from the manufacturers
  • Identify reliable factories and know how to avoid scammers

Instructor: Diego Davila

Reviews: 4.5 Star Rating; 357 Reviews; 2,660 Students Enrolled

Sample Review:  “Take this course if you want to learn about Amzon and Alibaba….Wauw, Diego is a Boss! I’m a beginner and as far as I can tel tell tight now is that I’m very pleased with the content. Step by step, not too long and not too short, aswesome. The teacher’s excitement really shows and he’s determined to gice us the best he can. Off I go to the rest of the course!

ClickBank Success - Affiliate Marketing Without a Website

Udemy Course on ClickBank affiliate marketing without a website

Learn To: 

  • Gain the knowledge to select good, profitable, ClickBank products to promote
  • Create a profitable advertising campaign and make money with ClickBank without a website
  • Boost your campaign performance by tracking keywords that lead to actual sales
  • Build your own squeeze page and attract subscriber opt-ins

Instructor: KC Tan

Reviews: 4.5 Star Rating; 2,847 Reviews; 16,570 Students Enrolled

Sample Review:  “This is a good course to start in Internet Marketing. The instructor has taught students all the basic skills of internet/affiliate marketing in a step by step format. There is plenty of advice and tips given and lots of interesting, useful techniques are demonstrated. The support has been quite exceptional, keep it up!

Build a Dropshipping Empire From Scratch. Proven Blueprint

Udemy Course to set up a dropship business

Learn To: 

  • Choose the right type of products to sell with the dropship model
  • Quickly find the right suppliers to dropship for you
  • Set up the ‘perfect’ website for drop shipping
  • Put in place powerful strategies to turn your website into a sales machine

Instructor: Theo McArthur

Reviews: 4.6 Star Rating; 1,492 Reviews; 9,410 Students Enrolled

Sample Review:  “Seems to cover everything you need to know to get started. With this information I went from knowing nothing to having a store in less than a week. 🙂

Conclusion

Ideas are great, but only if you know how to follow through on them.

These are 14 ideas with hours of video and coursework to get you making money in no time.

Hopefully there was something in that list that sparked your interest.

Something that made you think “I’d like to do that!”  

If it did…if it jumped out at you or you got that little twinge of excitement, take the course.  You never know, it could change your life.

Which course looked the most interesting to you?  Have you taken a Udemy course?  Loved it?  Hated it?  Comment and let everyone know.

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9 Impressive Blogger Income Reports (You Need to See) https://www.themoneysnowball.com/blogger-income-reports/ https://www.themoneysnowball.com/blogger-income-reports/#comments Tue, 09 Jan 2018 09:27:56 +0000 https://www.themoneysnowball.com/?p=997 We look at 9 blogger income reports, all making over $1,000 per month. Some are just starting out. Others have been doing it for years and making over $200,000 per month. If you’ve thought about making money from a blog, this is proof blogging isn’t dead. Bonus Material: Free Passive Income Calculator There are a lot …

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We look at 9 blogger income reports, all making over $1,000 per month. Some are just starting out. Others have been doing it for years and making over $200,000 per month. If you’ve thought about making money from a blog, this is proof blogging isn’t dead.

There are a lot of skeptics out there.

People who think making money online is a big scam. That it doesn’t work for the average person.

They’ve got excuses for everything.

Too many people already doing it.

Don’t have the time.

Who would care what I have to sell?

This is especially the case when you talk to someone about making money from blogging.

Blogs have become common place now. Everyone knows what a blog is.

 

Most people even know that you can make money from a blog.

Well, most people who aren’t over 60.

Trying to explain to people that they can still make money from a blog is even harder.

Anyone can wrap their head around making money from selling a product. But to make money from telling strangers what you’re learning? No way.

Besides, “blogs are dying.” Another common excuse.

Well, blogs aren’t dead. They’re not dying. And there is still a lot of opportunity to make money from a blog.

To prove it, let’s take a look at a few income reports from bloggers that are more than thriving.

Table of Contents:

What is an Income Report?

First, let me explain what an blog income report is.

I really can’t say who started this trend, but it has spread across the blogging community.

A blog income report is a place for people to share the financial journey of their blog.

Bloggers use them for all sorts of reasons.

Some use them as a marketing tool.

Some to help their audience hold them accountable.

Others use it as a motivational tool to keep themselves going.

Blogging can be a slog and having something to show for it can keep a lot of people moving forward.

Typically it’s broken down into a couple different sections.

One is where the income is coming from.

What services are they using?

What ad network are they a part of?

Which affiliates are performing the best?

How are their product offerings doing?

The second section is traffic. What is driving the most traffic to their blog?

Is it social media? If so, which platform?

Is Google and SEO doing most of the work? Which keywords are doing the best?

Some income reports are incredibly detailed. They can provide a lot of insight into the blog and be extremely helpful.

Others are pretty basic. They can provide a lot of motivation but not much insight.

The one thing all these prove: that you can make money blogging.

This Fairy Tale Life (Mindy) - $1,400

This Fairy Tale Life is the lowest earner in our 9 person round-up and she’s still making over $1,000 per month!

She’s been reporting on her traffic and income since 2014 and making money all that time.

Most of her revenue comes from the ad network, Mediavine.

Of the $1,463 she made in October, $1,027 came from Mediavine.

The great thing is, the ads on her site aren’t that intrusive.

You can definitely tell there are ads, but it’s not a distracting amount. It doesn’t take away from the experience on the site.

To get paid that much for advertising you need quite a bit of traffic.

This Fairy Tale Life looks to hover around 2,500 pageviews per day.

That’s fantastic! Blogging is a time game. The longer you stick with it, the more traffic you’re going to get.

Most of the traffic is from new visitors, which means people aren’t having a hard time finding the site.

There isn’t a traffic breakdown, but Mindy does say most of it comes from “Google, Pinterest, Direct Traffic, Facebook, and Bing.”

I’m going to assume that’s in descending order and so most of the traffic is coming from Google and Pinterest.

Do You Even Blog (Pete) - $2,238

The first time I found Pete and Do You Even Blog was on Twitter.

I’m not sure how or why one of his tweets popped up, but it made an impression.

He’d recently launched his blog and podcast and was interviewing a lot of major players in the blogging world.

Do You Even Blog launched around April of 2017 and Pete is already making over $2,000 from his site and podcast.

That’s ridiculously impressive.

Each month Pete lays out his goals. For November it was getting over 750 email sign-ups, reaching 4,000 pageviews, and earning over $2,000.

He nailed each one.

Earning over $2,000 with only 4,000 pageviews might be surprising.

This Fairy Tale Life gets about half that PER DAY and isn’t making over $2,000.

That’s the power of having your own product.

Pete launched his Blogger U course and earned almost $900.

If you have your own product to sell, the amount of traffic necessary to make a good amount of money decreases.

You don’t need a lot of traffic, you need the right traffic.

Fitnancials (Alexis) - $4,612

Alexis is the creator of Fitnancials. The site talks about her journey to lose 60 pounds, travel on the cheap, and live a great life on a budget.

Clearly the message is resonating because she raked in over $4,500 in October.

The blog started in 2013 to document her weight loss. Four years later she’s making a full-time income off the site.

While it takes a lot of dedication to blog for four years, it doesn’t necessarily take a ton of time.

Alexis spends, on average, 20-30 hours per week blogging. With travel, sometimes that drops.

Compare that to people who are working a regular 40+ hour job and it’s not a bad gig.

While Fitnancials does make some money from ad networks, like This Fairy Tale Life, most of it is made from sponsored posts.

When someone or some company pays you to write a post about a topic or product, it’s a sponsored post.

There are a host of networks you can sign up for to score sponsored posts. Alexis has a great write-up about the entire process.

While there isn’t a breakdown on traffic sources, it looks like Pinterest is a major driver.

Recipe This (The Milners) - $7,549

November of 2017 marks the 25th month of blogging for the Milners and Recipe This.

At just over two years they’ve set themselves up really well. They made just under $30,000 in their second year blogging!

This November income report seems to be a bit of an outlier. Most of their recent months seem to be in the $2,000 to $3,000 range. Regardless, these are still amazing numbers.

The Milners break down every place they received income for November.

Far and away the big winner is Sponsored Content bringing in over $4,800. That’s almost 64% of their total revenue for the year.

The bulk of their other revenue comes from Monumetric, an ad network, and Amazon Associates.

Amazon Associates is Amazon’s affiliate marketing program.

Recipe This directs readers to Amazon through a tracked link. If the reader buys something, Recipe This gets a percentage of the sale.

Now if you look at the top two traffic sources for the blog, they might look pretty familiar: Google and Pinterest.

Those two alone account for over 50% of the traffic to the site.

From our previous analysis, focusing on Pinterest and SEO for website traffic is the way to go.

Millennial Money Man (Bobby) - $14,388

Bobby started writing income reports for Millennial Money Man in mid-2016.

That first report had an income of $6,196. He has doubled that in a little over a year.

That’s the power of an income snowball!

Bobby points out that he’s reached a level where $14k-$16k per month is normal from his blog. That’s, at least, $168,000 per year.

Blogging is not dead.

The money comes from two distinct pots: Digital Marketing and the website.

Both roll up into that $14,388 total.

But, his website brings in a majority of that with just under $9,000 in revenue for the month of November.

Of that $9k, almost $6,000 comes from affiliate marketing.

Affiliate marketing isn’t just throwing links onto your site at random.

To be good at it, and make $6,000 per month, you need to be deliberate.

Bobby attributes most of his success to a course called Making Sense of Affiliate Marketing by Michelle Schroeder-Gardner. We’ll get to her income report a little later.

Ads brought in the rest of that $9,000.

There isn’t a breakdown of traffic sources, but that’s OK.

To get a lot of revenue from ads, you need the traffic.

But affiliate marketing doesn’t rely on much traffic to earn a decent amount.

Converting a small amount of customers through affiliate links adds up quick.

Bobby has the combination of smart affiliate marketing AND a lot of traffic. That’s why his affiliate income is almost double his advertising income.

Well Kept Wallet (Deacon) - $17,714

Deacon’s first income report was February of 2016.

The total for that report came in at a whopping $940.41.

Don’t get me wrong, that’s fantastic. Making any money from a passion/hobby is awesome.

But most people would think if you made almost $18,000 this month, you’d be making at least over $1,000 a couple years ago.

Not so with Well Kept Wallet.

Looking at the totals for past income reports, it’s clear that Deacon took things to a whole new level at the end of 2016 and through 2017.

We know what the income is for August of 2017 but there isn’t a full income report.

For that I’m going back to January of 2017 where Deacon made $6,089.48. Just from the beginning of 2017 to the end has seen massive growth!

In January, $3,087 came from affiliate marketing and $2,044 from ads.

What does Deacon attribute his rapid increase in income to? Making Sense of Affiliate Marketing. Michelle strikes again.

As the monthly income of these bloggers increase, you start to see a shift in where the bulk of it comes from.

Ad revenue doesn’t become the highest contributor. Other avenues start to take over that top spot.

Just a Girl and Her Blog (Abby) - $41,700

Abby stopped releasing income reports in December of 2016. But, she’d already been consistently making over $30,000 from her blog for 12 months prior.

The income reports for Just a Girl and Her Blog started towards the beginning of 2014.

Looking around the web, all Abby saw were reports for people making tons of money. She wanted to show what it was like for someone making less than $1000.

Fast forward almost three years and things have changed dramatically.

No longer is Just a Girl and Her Blog some small part time gig. It’s a full time business bringing in over $300,000 per year!

In her December report, Abby says they’re stopping because it “began to feel a little bit icky.” It felt like each month was a brag about how much they were making.

I don’t think that, but that’s how quickly things can change.

At one time you’re deciding to share income reports because you don’t see any of the “small fish” doing it. Next thing you know you’re making so much releasing income reports feels like bragging.

Not to say there isn’t A TON of hard work that goes on between those two stages. This is more to say what is possible.

For that final month of 2016, the blog income is broken into two categories: affiliate income and product income.

Just a Girl and Her Blog did show ads at one point but they don’t make any money from them now.

Product income totals $14,193 and affiliate income comes in at $27,507.

As the income numbers get bigger, the products start to show up.

Abby and her team have four products that brought in almost $15,000 in that month of December. I can only imagine how much higher it is today.

I love this graph. It shows just how dramatic their journey over the two and a half years had been.

Making Sense of Cents (Michelle) - $110,656

We’ve got two more income reports to take a look at and these are both over the six-figure mark.

Michelle has been CRUSHING it with her blog.

She left her job as a financial analyst in October of 2013 to blog full time. The income reports just started out as a way to track what she was earning from side jobs.

One of those side jobs turned into her full time job. One that brings in close to, if not more than, $1,000,000 per year.

Making Sense of Cents has four avenues of income: affiliate, products, sponsorship, and advertising.

Nearly half of that income is coming from affiliate marketing. She’s got almost a dozen different affiliate programs paying her.

The largest, by far, being Bluehost.

Next up is her products. Over a third of her monthly income ($38,601) comes from products she’s created.

Saying products (multiple) is misleading because it’s just the one. One product that Michelle has created brings in that much income every month.

When you create something that people want, they’re going to buy it.

That product is the Making Sense of Affiliate Marketing Course I talked about earlier. It is pure gold and that’s why everyone recommends it.

Sponsorship and advertising make up the final ~$20,000. The majority of that is from sponsorship at $16,700.

Advertising is last with $2,992.

While Michelle is still displaying ads, her income is, overwhelmingly, coming from other places.

Smart Passive Income (Pat) - $213,212

If you’ve ever thought about making money from a blog, there is no doubt you’ve come across Pat Flynn.

I can’t really call him the grandfather of ‘blogging for a living’ because he’s still a pretty young guy.

Pat is definitely part of a select group. He was one of a few that paved the way for blogging as a living.

That was probably clear from the near quarter of a million dollars he made in November from his blog.

He didn’t reach that number overnight. His first income report was from October of 2008.

The blog has been around longer than that, so Pat has definitely put in the hours.

That $213,212 shows what hard work and persistence can do.

Pat has his income broken down into six different categories.

If he wanted to, it could be reduced to four: affiliate, products, niche sites, sponsorship.

Ads are completely gone from Smart Passive Income and he’s still bringing in over $200,000.

Well over half of that comes from products Pat has created.

Yet again proving that creating your own product is where the top bloggers are making their money.

There are a range of products but the top money makers are his courses. He’s got three of them that produced $120,362 in November of 2017.

The next largest category is affiliate income. Thirteen different programs brought in $61,689.

One of the things Pat is most known for is his SPI Podcast.

He’s able to leverage its popularity to attract sponsors. That brings in another $12,000 per month.

Finally are the niche sites.

Pat started his “empire” with a site talking about the LEED exam architects take.

The success of that site led him to start Smart Passive Income. As part of SPI, he has created two other niche sites to show people, step by step, how to earn extra money from a website.

Those three websites still earn over $4,000.

While we can’t all be like Pat, he’s certainly someone to learn from and aspire to.

Conclusion

And there you have it.  Nine different people all making money from their blogs.

Even saying it that way makes the word sound bad. They’re not just blogs. These are legitimate businesses with legitimate founders and CEOs.

Each one has to have a vision. To be successful, they all need to know every aspect of how a business runs.

They’re marketing, R&D, product development, sales, technical writers, creative writers, graphic design, and a whole host of teams all rolled into one person.

And when they level up and can outsource some of that work, they have to manage those teams.

To think that these blogs aren’t businesses is flat out wrong.

To think that it’s impossible to start now and reach Pat’s level of success is wrong too.

It takes time, hard work, and, most of all, patience. It’s still possible, though.

Anything is possible.

Have any of you thought about starting a blog and decided not to?  Why?

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How to Sell T-Shirts Online and Make $50,000 in 10 Months https://www.themoneysnowball.com/sell-t-shirts-online/ https://www.themoneysnowball.com/sell-t-shirts-online/#comments Tue, 05 Dec 2017 09:35:50 +0000 https://www.themoneysnowball.com/?p=922 Bonus Material: Free Passive Income Calculator Let’s be honest. Everyone has thought about trying to make money selling t-shirts at one time or another. The business is so simple. Come up with an idea for a design, pay someone a few hundred dollars to print them up, and they’ll sell like crazy. I remember watching …

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Let’s be honest. Everyone has thought about trying to make money selling t-shirts at one time or another.

The business is so simple.

Come up with an idea for a design, pay someone a few hundred dollars to print them up, and they’ll sell like crazy.

I remember watching a sports documentary about a guy who went to Notre Dame and made a bunch of money doing just that.

For most people, that initial excitement fades after they think about it a little more.

All the questions, concerns, and fears start to pop into their head.

How am I going to make the design? I’m not a graphic designer.

Where am I going to get the money for inventory?

Where am I going to keep all those shirts?

How am I going to sell them?

But things have changed.  Those fears shouldn’t even enter your head.  Now that you’re able to sell t-shirts online, all those problems are gone.

By the end of this post, you won’t be spending anything and still making over $50,000 a year selling t-shirts.

Is Selling T-Shirts Online Profitable?

Elaine Heney was a serial entrepreneur.

She’d created hundreds of apps, produced movies, was a #1 best seller, and run successful FBA (fulfillment by Amazon) campaigns.

But, there was something about selling t-shirts that caught her eye.

Maybe it was because she’d been a successful FBA that the idea jumped out to her.

She spots good ideas and knew this one could be a huge success.

Elaine was right.

Within the first ten months of selling t-shirts online, she had sold over $100,000. Taking in a profit of roughly $53,000.

All within 10 months!

Is selling t-shirts online profitable? Definitely

While Elaine had ran businesses before, she wasn’t a designer. She didn’t have connections with t-shirt manufacturers. She didn’t have a huge social media following that bought all her designs.

Elaine saw an opportunity and took advantage of it.

An opportunity that she says is still available and that anyone can take advantage of.

Best Place to Sell T-Shirts Online

The opportunity she saw was Merch by Amazon.

If it’s not clear, the “merch” in Merch by Amazon stands for merchandise.

This is Amazon’s way of dipping their toes into the world of custom merchandising.

Places like CafePress have been doing this for years.

They offer hundreds of products that anyone can customize and buy.

Logos, images, slogans…you name it and they’ll put it on a mug or hat or shirt for you.

It seems like Amazon is going to start offering a similar service, but right now it’s just shirts.

That’s OK though! Shirts are great!

Everyone wears t-shirts.

What Elaine saw with Merch by Amazon was the opportunity to sell on the largest marketplace in the world.

She could sell on the largest marketplace in the world and not have to worry about processing credit cards, shipping, returns, or even holding inventory.

That’s right, you can sell shirts online without inventory.

Granted, there are other businesses that offer a similar option.

Teespring offers the same convenience. The difference is Amazon.

Amazon already has millions of people shopping on their site. They’ve got built in customer goodwill.

People feel comfortable buying from Amazon. Most of the time their credit card info is already on file with Amazon and they just hit the 1-click Buy button.

Most people don’t have that level of comfort with Teespring or any other site out there.

How Does Merch by Amazon Work?

Merch by Amazon makes this selling t-shirts thing ridiculously simple.

I’ll go over this in more detail a little later but let’s look at things from a high level.

Once you’ve got a Merch by Amazon account, you’ll come up with a design.

You’ll create the design on the software of your choice. Don’t worry. I’ll give you a tip later to make this process really simple.

Next you choose the shirt colors. What colors do you want available for the customer to buy?

Write a short description. Set the price. You’re done.

Your shirt then gets listed on Amazon and is there for anyone and everyone to buy.

Once someone decides to buy your shirt, the process is the same as any other sale on Amazon.

Instead of the order going to you to fulfill, Amazon takes care of everything.

They print the shirt on-demand after an order comes in. Amazon packages it up, handles the shipping and delivery, and next thing you know the customer is wearing your design.

You just made money without having to lift a finger.

It doesn’t get much easier than that.

Now let’s dig a little deeper. Elaine has a few tips on how to make your t-shirt business a success.

Design Topic for Your T-Shirts

When it comes to the theme of a design, it’s best to stay within three categories:

  • Evergreen
  • Trending topics
  • Seasonal

Evergreen topics are the things people are passionate about.

Nurses are passionate about nursing.

Sports fans are passionate about their teams and the sport in general.

Rock climbers obsess with everything rock climbing.

 

Tap into that passion with a shirt design. Hopefully there is something you’re passionate about.

Use your knowledge of the subject to make some shirts that other people would like.

Trending topics have a shorter lifespan than evergreen but can be VERY lucrative.

Around the election, there were hundreds of trending topics.

Hashtags and catchphrases are always catching on Twitter.

If you keep your eyes open, you can cash in on one of those trends before they fade.

And finally there is seasonal.

Seasonal has a longer lifespan than trending topics but doesn’t have the year round potential like evergreen designs.

With seasonal designs, you’re tapping into holidays or seasons.

Shirts that are popular around Halloween or Father’s day. Shirts about winter or the rainy season.

Creating a Design

This part will still scare a lot of people.

When people think about designing a shirt, they think about some elaborate artistic creation.

It couldn’t be further from the truth.

Most of the best selling shirts on Merch by Amazon are words. Just plain words.

One of the highest selling shirts of all time came around the 2016 election and all it said was Resist.

It was a black shirt with white lettering in a basic font. That’s it.

Come up with a short phrase that taps into one of those three design topics and you’re set.

Once you’ve got the phrase, use a tool like WordSwag.

That’s right, you’re going to be creating t-shirt designs on your phone.

Wordswag allows you to type in anything and then apply various design templates.

Think of it like an Instagram for words.

Once you’ve got a Wordswag image dialed in, you’re all done.

You’ve got your t-shirt design. Quick, easy, painless.

By the way, don’t put too much pressure on yourself with the design.

If it doesn’t sell, who cares! It’s not like it cost you any money.

You came up with an idea and put it out there. If it doesn’t sell, oh well.

Come up with another design and try again. That’s the beauty of Merch by Amazon, you get to do all this trial and error for FREE.

Other Design Apps

There are a host of other design apps out there you could use.

Check out this list of design apps and see if another one appeals to you.

The other app I’d recommend downloading is Resize Images.

Amazon needs the image to be 4500 x 5400, 300dpi, and have a transparent background.

Most apps will do that, but, just in case, Resize Images handles all those details for you.

Pricing and Color Choices

Amazon recommends a selling price of $19.99 and this is what you should sell at.

There hasn’t been a lot of testing to see the success of cheaper priced shirts.

Since Elaine made $50k in 10 months selling at $19.99, I’m going to trust her.

With that sale price, you earn about $5.38 in profit.

Sell 10 shirts, you make $53.80. Sell 100, you make $538.

Elaine also recommends you stick with darker colors. Black and navy blue are top sellers.

Amazon gives you hints into what the best sellers are.

Once you’ve uploaded a design and want to select shirt colors, they line the colors up from top selling to lowest.

I’d pick a few of the highest selling colors and stick with that. That is, as long as your design looks good on those colors.

If your design doesn’t look good, choose some different color shirts or tweak your design.

Most of this is going to be trial and error.

You’re going to come up with designs, put them on a few colors, and see if they sell.

If they don’t, you come up with a new one and try again.

Sometimes you can cycle back through old designs and see if they start selling again. You might get lucky.

One way to try more things is to increase your design limit.

Increasing T-Shirt Design Limit

When you’re first starting, Amazon only allows you to have 10 designs at one time.

Once you sell 10 shirts, they lift that 10 design limit.

Amazon doesn’t care where those sales come from as long as you reach 10.

One way is to order 10 yourself. Give them away as gifts.

Or create a random design for a family get together. Order 10 for the event and then pull the design down.

The more designs you’re allowed to sell at one time, the better odds you have of finding a winner.

Marketing Your T-Shirts

This is where the rubber meets the road.

Amazon is a massive marketplace and your t-shirt designs can easily get lost in the sea of products.

That’s OK. Remember, you’re not paying for any inventory or storage space.

Your t-shirt designs can sit there for 60 days without a sale and then Amazon will pull it down.

Try a different design or put it up again.

The good news is you’re not out any money if something like that happens.

We’re in this to make money, though. That means you’ve got to do at least a little marketing.

You’ll be surprised to find out that Elaine made her $50,000 without spending a dime on marketing.

She’d post a picture of the shirt on Twitter or Instagram with a popular hashtag about the theme of her design.

The hope being someone is looking at posts about the hashtag, sees her shirt and buys it.

If it worked for her, it’ll work for you.

You could spend money on Facebook ads or Instagram ads, but I wouldn’t.

The goal is to make money while spending as little as possible.

Selling t-shirts online is one of the easiest ways to make a lot of money without spending any.

I recommend you keep coming up with designs and posting them to Instagram and Twitter.

Just like Elaine did.

Don't Wast Time on Amazon Reviews

For whatever reason, this won’t make a difference.

I’ve tried to figure out why, but couldn’t find anything.

It’s not going to have any impact on the sale of your t-shirt. For other products, it’s definitely going to make a difference, but t-shirts are immune.

If someone loves your design, they’re going to buy it regardless of whether there are reviews or not.

They probably see that “Fulfilled by Amazon” and instinctively know it’s going to be of good quality.

Of course good reviews never hurt, but don’t put time or energy in trying to get reviews.

The cost benefit just isn’t there.

Conclusion

And there you have it!

Selling t-shirts online has to be one of the easiest and cheapest ways to make extra money for free.

Especially with Merch by Amazon.

Technology has made the process so easy and cheap, all it takes is your time.

As long as you’re willing to put in a few hours a week, your t-shirt business is almost guaranteed to be a success.

Have you sold t-shirts online?  Any tips or recommendations?  Leave a comment below.

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How to Make $100,000 on Fiverr in 18 Months https://www.themoneysnowball.com/make-money-fiverr/ https://www.themoneysnowball.com/make-money-fiverr/#comments Tue, 31 Oct 2017 06:27:16 +0000 https://www.themoneysnowball.com/?p=802 Bonus Material: Free Passive Income Quiz Trying to make money with Fiverr sounded like a simple solution. It seemed like an easy business model: offer a service and get paid $5 to do it. How hard could it be? Kendell Rizzo of successfullyfunded.co had been freelancing for a while. She was over caffeinated and sleep …

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Trying to make money with Fiverr sounded like a simple solution.

It seemed like an easy business model: offer a service and get paid $5 to do it.

How hard could it be?

Kendell Rizzo of successfullyfunded.co had been freelancing for a while.

She was over caffeinated and sleep deprived. Long hours for little pay wasn’t cutting it anymore.

This girl is an ironman triathlete that is tired from the amount of work it takes to be a successful freelancer. That is saying something.

She was working for herself. Dream come true, right? Wrong. It was still the rat race.

 

How to earn $100,000 in 18 months on Fiverr

Instead of having one or two bosses, she had 5 to 10 clients. And when it comes to freelancing, clients might as well be bosses.

There are still deadlines and complaints and performance evaluations.

The deadlines are just imposed by the client.

Ditto for the complaints.

And performance evaluations are necessary to show proof of quality work. It attracts more clients. Another necessary evil.

All that sounds like a pain, but that wasn’t the real problem.

Freelancing requires even more time and energy than working with the customer.

You’ve got to market yourself to attract more customers.

You’ve got to handle invoicing and payment.

There is even the time spent bidding on jobs that could lead to nowhere and end up being a waste.

All this lead Kendell to stress filled days and sleepless nights.

An Easier Way

Fiverr logo

Like most things in life, there was an easier way.

Kendell realized the life of a freelancer is fragmented and Fiverr seemed like an easy solution to bring it all together.

Marketing becomes easier because people are already using the website. Fiverr is attracting the customers and you just have to draw them in one step more.

Billing is handled through their payment system. No more worrying about sending an invoice and hounding the customer for payment.

The bidding process is gone. Customers would find her on Fiverr and request to work with her.

Fiverr takes so many pain points of being a freelancer and removes them completely.

It allowed Kendell to focus on the part of work she really liked: helping people launch successful crowdfunding campaigns.

After jumping on Fiverr, Kendell made over $100,000 in her first 18 months.

She attracted over 4,000 customers and spent less time working than before joining Fiverr.

And don’t let the name fool you, people spend more than $5. While the marketing of paying someone $5 for a gig attracts customers, a lot more money is being spent there.

It has reached a point where Kendell’s average order is now between $500 and $900!

Kendell is an amazing success, but that doesn’t mean other people can’t do exactly what she did.

Here are her top tips for anyone looking to become a Fiverr success.

1. Just Get Started

Don’t overthink your initial profile.

Take 5 minutes to get everything set up with a couple pictures and a quick bio.

You’re going to tweak things later on and that’s OK.

Spending a ton of time making sure everything is perfect in the beginning means less time you have to potentially be making money.

Also, use what you have.

Don’t go out looking for someone else to create images for you.

Use a tool like Canva to create something simple.

The beauty of starting on Fiverr is that people aren’t expecting perfection.

You’ll want to try to be perfect because that leads to better reviews, but it’s $5. No one is expecting mastery.

The sooner you start, the more you can hone your skills, the better you get, the more you can charge.

So if you’ve got an idea for a service, just get started.

2. Get Specific with Your Gigs

Getting specific with Fiverr listing will help make you money

“Copying others will set you up for failure.”

If your skill is social media marketing and that’s what you’re offering, it’s going to be hard to attract customers.

You become a very small fish in a very large pond.

Instead, become a big fish in a small pond.

Instead of a gig that sets up Facebook Pages, offer a gig that sets up Facebook Pages for bloggers focusing on financial independence.

If your skill is making Pinterest images, don’t just say “I’ll make a Pinterest image.” Offer a gig that makes Pinterest images for fitness blogs.

This sets you apart from the crowd.

Now, if someone is searching Fiverr looking for Pinterest images for their fitness blog, they’re more likely to pick you.

They definitely will pick you over a generic graphic designer.

Niching down also makes it easier to upsell later.

You’ve built a relationship around something very specific. The client is going to know you’re passionate about their topic.

When they need more done later on, they’re going to come straight to you. You’ll also have an easier time offering them premium packages of work.

3. Overdeliver in the Beginning

A quick 24 hour turnaround will get you more business on Fiverr

Under promise and over deliver for the first few months.

When you’re first starting out, deliver every gig within 48 hours, but don’t charge people for it.

Put it right on your gig image, “Delivered within 48 hours.”

Even then, deliver the final product within 24 hours if you can.

This impresses the hell out of people.

Most people charge extra to have such quick turnaround time. Offering it for free is another way to set you apart from the crowd.

Delivering even faster than 48 hours means you’re more likely to get a good review.

A good review is as good as money when you’re starting out.

You want to start off looking for positive reviews and 5-star ratings.

If you finish a gig and the client hasn’t left a review, send them a couple email reminders.

“It felt like working for free in the beginning.”

It took Kendell around a month to get her first 10 orders.

When you don’t have many gigs and you’re turning them around in such a short period for $5 each, it can feel like you’re working for free.

That’s OK. It doesn’t last long according to Kendell.

You’ll start getting more reviews, which will attract more customers, which will allow you to up your rate.

4. Start with Multiple Listings that Offer the Same Service

After you’ve got one gig listing out there for a little while, create a second one that does the same thing.

And a third.

And a fourth.

With each one, tweak the headline and description paragraph just a little bit. Maybe even change the image if you’re savvy with graphics.

You might be surprised with which one ends up performing the best.

Kendell once made 10 gigs for the exact same service.

Plus, each extra listing is just one more opportunity for someone to find and hire you.

5. Use Two Numbers in Every Gig Offer

Include 2 numbers in every Fiverr gig listing. Versions and time to delivery

Make sure every gig offer includes two numbers: time and quantity.

Instead of “I will make a Pinterest image for your fitness blog.”

Change it to “I will make 2 Pinterest images for your fitness blog in 48 hours.”

The second title sounds a lot more enticing than the first, doesn’t it?

This kind of goes with the under promise and over deliver.

It’s going to be hard for anyone who is looking for Pinterest images and owns a fitness blog to scroll past something like that without clicking.

If you’re a copywriter, don’t say “Will Write Copy for Your Widget Sales Page”

Change it to “Will Write 2 Versions for Your Widget Sales Page in 48 hours.”

6. Post Your Gig Before Creating the Product

Services are great when you’re starting out, but the real passive income comes from digital products.

Once you’ve got a few service gigs under your belt, it’s time to start creating digital products.

This could be an ebook or some templates. Whatever you do, think of something you can offer that makes the client into a DIYer.

Step-by-step guides are a great example.

You’re taking what your service does and making it incredibly easy for the client to do it themselves.

Why would you want to do that? Because it saves you time.

You’re still getting paid without the hours spent completing the work.

Then you offer a second gig at a higher price where you’re still doing the work for the client.

There are going to be people out there willing to spend a premium just so they don’t have to do anything.

Back to our Pinterest image example.

Offer up 2 pinterest image templates for people to buy and download for $5.

Then have an upsell offer saying you’ll create 6 unique images for them for $50.

You’ll either be making money for doing nothing or making more money for doing a little something.

The key with digital products is to make the gig and put it out there for people before even creating it.

If you think you’ve got a great idea for a digital product, post a gig and see what happens.

People may end up buying it and then you’ll have to actually create it.

But if they don’t, you just saved yourself weeks or months worth of work for nothing.

7. Upsell, Upsell, Upsell

Constantly be upselling to make money on Fiverr

Kendell’s final recommendation to start earning the big money is to upsell.

Constantly upsell.

Once you’ve got a bunch of little $5 gigs doing different things around your niche, start bundling them.

Combine them into one gig and charge more money for it.

For each of your small gigs, upsell a faster delivery time.

Once you’re busy and have plenty of good reviews, it’s time to take down the 48 hour turnaround.

That’s an easy upsell.

If people want something done in 48 hours, charge them a bit more.

If they want it done within 24 hours, charge an even higher price.

Fiverr makes it easy to do that.

Eventually you’ll get bundled packages that include both digital products and services.

Each one has a premium price tag that people are willing to pay. You’ll start charging $300 and $400 for things you used to do for $5.

Conclusion

Fiverr takes all the stress out of being a freelancer.

They’ve taken all the headaches around account, marketing, organization and put it into one easy to use platform.

That means it’s easy to start on the side.

Take an hour or two at night or on the weekends to do a little extra work.

Make a few hundred dollars a month to start off. The more gigs you create, the more you can bundle, the more you can earn.

Turn around and invest that and you’ve got a turbo-charged income snowball that’s ready to roll.

Have you used Fiverr before?  Any tips or suggestions?

Note:  This info is from an interview that Kendell did with Nick Loper on the Side Hustle Nation podcast.  I highly recommend listening if you have an interest in making money on Fiverr: Listen Here

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12 Free Apps to Make Money You Must Download ($300 Per Month) https://www.themoneysnowball.com/apps-make-money/ https://www.themoneysnowball.com/apps-make-money/#respond Mon, 04 Sep 2017 06:45:03 +0000 https://www.themoneysnowball.com/?p=631 Wouldn’t it be nice to have an app that you could make money from just for using it? The other day I saw a commercial saying the average person checks their phone 85 times per day.  PER DAY! Since most of us spend so much time looking at our phones, it would be great to …

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12 free apps to make money you must downloadWouldn’t it be nice to have an app that you could make money from just for using it?

The other day I saw a commercial saying the average person checks their phone 85 times per day.  PER DAY!

Since most of us spend so much time looking at our phones, it would be great to make a little money on that tiny screen.

The truth is, you can.

There are legitimate apps out there right now you can make money from.

Some of them need you to give an opinion while others have more complicated tasks.

Either way, you’re making money using your smartphone!  How cool is that?!

None of them are going to replace your income.  Sorry.  If that were the case, everyone would be on the app and no one would be making money.

The beauty of these money making apps, though, is they give you more snow to pack onto your income snowball.

$100 one month, $60 the next month, $200 another month…It doesn’t sound like much right away, but it adds up.

It especially adds up when you take that money and invest it.

Let’s dive into these apps and figure out which one you’re going to download to start earning a little residual income.  Hint: It should be all them.

And an FYI, these apps aren’t ranked in any particular order.

1.  iBotta

Make money shopping with the iBotta App

Apps to make money for grocery shopping.

This is probably one of the more recognizable ones on the list.

iBotta has spent a lot in TV advertising so it wouldn’t be too surprising if you’ve heard of it.  Their commercials are also a little annoying.

Anyway, the beauty of iBotta is that you earn cash back from everyday purchases.

Kind of like a coupon, but even better.

You go through the app and select rebates for things you plan on buying.  You can even do this in the store while you’re shopping.

Then, after you buy the products, take a picture of your receipt.

iBotta will match the products you bought with the rebates you selected and then deposit money into your account.

Simple!

2.  Pact (No Longer in Business)

Make money working out with the Pact App

**Update: App is no longer available.  This list will be updated with a new app soon.

Apps to make money while you workout.

Pact can earn you money or end up costing you money.

The app is a motivational tool to get you working out and eating healthier.

You make a weekly pact to work out or eat healthier.  The goals are targets set by you.

Each pact is with other people using the app.

The catch is, you then say how much you’ll pay other members if you don’t meet your goals.

The beauty is, you get paid FOR meeting your goals.

I read about someone who has made $300 while training for an adventure race.

Not a bad gig getting paid to workout and eat healthy.

Just don’t slack off and start missing workouts.

3.  eBates

Ebates cash back for shopping at Nike

Apps to make money for buying things.

eBates is like iBotta in that you make money for buying things.  The difference is, eBates focuses on larger purchases.

Say you want to buy a pair of Nike shoes.

If you search Nike in the eBates app, it’ll say something 10% cash back with a little “Shop” button next to it.

If you click that “Shop” button, it will take you to the Nike online store.

Now you’ll get 10% off your total purchase deposited into your PayPal account.

eBates gets paid a small commission for “referring” you to the Nike store.  They then split that commission with you.

The cashback percentage varies depending on the store but it works at places like Amazon, Macy’s, Kohls, eBay, and so many more.

4.  Gigwalk

Make money with a side gig using the Gigwalk App

Apps to make money with a side gig.

Gigwalk uses your location and offers up gigs in your area.

The gig can take anywhere from 5 minutes to an hour.  The pay can also range from $3 to $100 or more!

You pick the time and place you want to work as well as the gig that interests you.

Everything tracks through the app and, when you’re done, Gigwalk will send the money to your PayPal account.

5.  OfferUp, eBay, LetGo

Make money selling your old stuff on the eBay, OfferUp, and LetGo apps

Apps to make money selling your old stuff.

Start cleaning out your closet, garage, and anywhere else you might have unused stuff laying around.

Once you find something to get rid of, put it on one or all three of these apps.

All have their positives and negatives when it comes to selling used items, but they’re all going to earn you some extra money.

OfferUp allows you to sell stuff locally with no fees up front and they don’t take a cut of the sale price.

eBay operates more nationally and globally.  You get shoppers from all across the world looking for stuff.  However, eBay takes a cut of the final sale price.

The fee structure can get a little complicated, but the percentages range from 2 all the way up to 15%.

LetGo is like OfferUp.  Most buyers will be shopping locally and they don’t have any fees up front or after the sale.

6. Camera App

Make money with your photos on the Foap App

Apps to make money from your pictures.

You take a lot of photos with your phone so why not make a little money off them.

One app you can use is Foap.

Foap has two ways of making you money:

Sell your own photos:  Take pictures, upload it to Foap, and set your price.  That’s it.

People can search the site based on the description you write and then pay a royalty to use it.

Complete Missions:  Missions are paid for by various brands.  They write a mission statement and offer up a prize money to whoever they decide wins.

You go out and complete that mission statement.  Once your photo is submitted, you wait to see if it is the chosen one.

If it is, you win the prize money and get your photo included in the marketing campaign!

If you’re looking to get into the photography world, this is a simple way to start getting your name out there.

Prize money can vary, but right now the prizes range from $100 up to $500.

Another app is Clashot.

Clashot is similar to the first option in Foap.

You take pictures and sell them on Clashop for 50 cents on up to $80.

When someone finds your photo and buys it, you earn some extra money.

7.  Slidejoy

Slidejoy is one of those apps to make money from your lock screen

Apps to make money from your lock screen.

If you don’t mind looking at ads, Slidejoy will earn you money each time you check your phone.

When you check your phone, Slidejoy will show an advertisement tailored to you on the lock screen.

You can swipe left to learn more about the product.  Swiping up will show you another card.  And swiping right will go to your home screen.

Regardless of which direction you swipe, you earn money.

That money will then go into your PayPal account.

Like I said earlier, the average person checks their phone 80+ times per day.  That’s a lot of swiping that could be going on.

8.  Mobee

Apps to make money from mystery shopping with Mobee

Apps to make money shopping, without buying anything.

Mobee turns you into a mystery shopper to complete missions.

In the app, you’ll select a mission near you.

Each mission comes with a set of instructions.  Typically each mission requires you to answer 5-10 questions.

The questions are meant to help stores improve their customer service and operations.

After you’ve completed the mission, the Mobee team will check your answers within 24 hours for quality and then deposit your cash.

It’s that simple!

9. TaskRabbit

Apps to make money on the side with TaskRabbit

Apps to make money on the side.

TaskRabbit pays you for doing mini side hustles in your neighborhood.

Good at putting together Ikea furniture?  There is a task for that.

Know how to mount a TV to a wall?  There is a task for that.

Enjoy organizing homes?  There is a task for that.

People go onto TaskRabbit needing all these things and more.

You look through all the tasks needed in your area and pick the one you’re able to do.

Once you complete the work, you fill out an invoice on the app showing how long you worked and then receive payment.

While the work does often have a start time set by you and the client, the schedule is pretty flexible.

There are even virtual tasks that you can do from home.

10.  Uber and Lyft

Apps to make money driving people around with Lyft

Apps to make money driving people.

If you haven’t heard of Uber or Lyft by now, you must be living under a rock.  Welcome to the world!

In case you don’t, Uber and Lyft are on-demand ride services.  Instead of calling for a taxi, someone pulls up the Uber or Lyft app and requests a ride.

You’ll need a car and register with whichever company you want to drive for.  You can even register with both and double your odds.

With Lyft, you can make up to $35 an hour giving people a ride in your own car.  Lyft even allows for tipping so that rate could go up.

Uber says the average driver earns around $19.04 per hour.  They also have added the ability to tip.

Along with a car, you’ll need to have valid insurance and registration.

If you don’t have a car, Lyft has started offering an Express Rental Car Program.

Lyft has agreements with rental car companies around the country.  You rent the car for a few days or a few weeks and pay a lower rate than a normal rental car would cost.

It eats into your profits but is a nice option for those not looking to own a car.

11.  BookScouter

Apps to make money selling old book with BookScouter

Apps to make money selling old books.

If you frequent used book stores or have one nearby, this could be a pretty lucrative app.

The app allows you to scan or enter the barcode number of a book.  It instantly compares buyback pricing from leading book-buying websites.

If the book buyer is willing to pay more than what the used bookstore is asking for, buy the book at the store.

Then turn around and ship it to the book-buyer you found on BookScouter for free and at a higher price.

12.  Field Agent

Apps to make money collecting information with FieldAgent

Apps to make money for getting information.

Field Agent is like Mobee in that you’re visiting stores in your area to perform a specific task.

Where Mobee is typically looking for answers to survey questions, Field Agent can ask for pictures of specific products.

It wants to see the product in the real world and verify its pricing.

The app is used by hundreds of small businesses and major companies, such as General Electric, Johnson & Johnson, and Walgreens.

Bonus:  Long Game

Apps to make money saving money with Long Game

Apps to make money saving money.

This is a bonus app that isn’t so much about making money for doing things, but the potential to make money from saving money.

With the Long Game app, you open a FDIC-insured savings account.  The money you deposit earns a very small interest rate like any other bank.

The difference is the more money you save and the longer you keep it in your account, the more Coins you earn.

Coins allow you to enter weekly and monthly drawings to win money.  The prizes can range from $10 up to ONE MILLION DOLLARS!

That’s right, they have weekly $1 million dollar drawings that you can enter for saving money.

It’s like playing the lottery – except you never lose your money.

Conclusion

There you have it.  12 apps and a bonus app that you can start making money from.

On their own, it doesn’t seem like each app pays out very much.  Sure, you could make a lot driving for Uber or Lyft all day, but none of them seem like huge money makers.

I get it.

But imagine if you used every one.  What if you downloaded all 12 apps onto your phone and spent one hour a month on each one?

One hour, per month, per app.  12 hours per month in total.

With pretty much all these you could earn an average of $25 per app in that hour.

At $25 per app, you made $300 in a month!  Not bad for some random apps on your phone.

Now do that for an entire year and you’ve made $3600!  That’s over halfway to maxing out a Roth IRA.

The earnings from one app by itself doesn’t seem like a lot.  Put in a little time on each one and it’ll add up.

Kind of like an income snowball.

 

Have any of you used these apps?  How much money did you make?

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9 Steps to Make Money Writing eBooks ($500+ per month) https://www.themoneysnowball.com/make-money-writing-ebooks/ https://www.themoneysnowball.com/make-money-writing-ebooks/#comments Mon, 03 Jul 2017 06:55:21 +0000 https://www.themoneysnowball.com/?p=519 Bonus Material: Free Passive Income Quiz They didn’t think it was possible to make money writing ebooks. It turns out people are actually willing to pay money for something they’d written. Cori Carl and his wife Casey are a couple of Americans who were looking to move to Canada. In the process, they were struggling …

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They didn’t think it was possible to make money writing ebooks.

It turns out people are actually willing to pay money for something they’d written.

Cori Carl and his wife Casey are a couple of Americans who were looking to move to Canada.

In the process, they were struggling to figure out what the immigration process would look like.

The first thing they searched for was a book to walk them through everything.  Seems pretty reasonable there would be some manual out there covering the topic.

Make money writing ebooks

After some Amazon and library searches, they came up empty-handed.  There was nothing out there.

There are 549 books on Amazon dealing with maple syrup, but nothing about immigrating to Canada.

Their next option was to search the internet.

They found what they were looking for, but it was scattered all over the place.  Plus, it needed translation.

Not from Canadian to English (joke) but from legalese to English.  It was a bunch of formal jargon which is tough for the average person to understand.

After hours and hours of research, they were finally able to complete the immigration process and set up their new home in Canada.

But they couldn’t be the only ones with this problem, they thought.  Other people are immigrating from the United States to Canada too, right?

They had hours and hours of all this hard work in the form of research sitting there.  None of it is useful to anyone.

They decided to turn it into an ebook.

Fast forward a few months and they’re making $500 per month from this one ebook about immigrating to Canada.  Amazing!

All they needed was the desire to turn their research into an ebook.  The possibility of extra money didn’t hurt either.

It turns out you can make money writing ebooks pretty easily.

Table of Contents:

How Much Money Can You Really Make Writing eBooks?

The most popular marketplace for selling your ebook is Amazon.

Amazon currently has over 300 million people using their site.  That’s a MASSIVE marketplace to sell to.

Sorry though, not every one of those is going to buy your ebook.

But even if you only get a tiny tiny tiny fraction who buy your book on a monthly basis, that’s a lot of residual income.

With Kindle Direct Publishing (KDP) you earn a royalty of 70% for every book you sell.

If you price your book at $1, you’d get $0.70 for every sale.

We’ll talk about pricing later, but the best price point for a small ebook is right at $2.99.

Using a sale price of $2.99 means a royalty of $2.09.

Each person who downloads your masterpiece puts just over $2 in your pocket.

Sell 100 ebooks, earn $209.  Sell 1000 ebooks, earn $2,090.

Now let’s say you were able to sell 240 ebooks every month like our “Canadians” from earlier.

You’d be taking home about $500 every month.  Over $6,000 per year.

Not bad for something you possibly wrote in a few weeks.

Because the goal is to start an income snowball, you invest the $500 per month.

In 10 years you’ll have earned over $80,000 from one ebook!

Where to Sell Your eBook

Best place to sell your ebook is on Amazon

Amazon is the whale.  If you’re looking to get the most eyeballs and the most sales, selling on Amazon is the way to go.

Another option is selling the ebook on your own website.  This means you keep all the sale price, not just 70%.

Weebly offers a quick and simple way to set up a website and start selling digital products straight from your site.

This route means you have to do a bit more work attracting people to your website.

A third option is Nook Press.  This is the Barnes & Noble equal of Amazon Kindle Direct Publishing.

While Barnes & Noble doesn’t have the volume of shoppers as Amazon does, it still has customers looking to buy ebooks.

For a sale price of $2.99, Nook Press is slightly lower than Amazon with a 65% royalty per sale.

Smashwords is a lesser known entity but still worth publishing on.  Smashmouth calls itself the world’s largest seller of indie ebooks.

By publishing on Smashwords, you’re actually distributing your ebook to some of the world’s largest ebook retailers.

Those are the four main platforms to sell your ebook on and Smashwords will actually make sure you’re on all the smaller, lesser known marketplaces.

Now you know where to sell and how much you can earn, let’s talk about actually writing an ebook.

Step 1: Finding Content

So you’re amped.  Ready to sit down and start pounding out an ebook.  The only problem is, you don’t know what to write about.

That’s the beauty of an ebook.  You can write about anything.

There are no publishers or editors determining what you can and can’t publish.

Whatever you know is your content.

If you’ve got experience and knowledge immigrating to the United States, write about it.

If you’ve got a secret method to learn Spanish, write about it.

You could even write about healthy, organic dog recipes.

Any knowledge you’ve got floating around in that brain of yours can turn into an ebook.

Even stuff you don’t know but have a keen interest learning could be an ebook.

Read a dozen books on a topic you’re interested in.  Take all the important or recurring themes from every book and package it into an ebook.

Hacking Your Content Strategy

One simple way to hack your content strategy is by reading reviews of competition:

Head over to Amazon:

  • Search for ebooks covering a similar topic to what you want to write about.
  • Target the titles with an average review of 4 stars or higher.
  • Read the “most helpful” critical reviews from those titles.
  • Find the things “missing” from the best books.  People may enjoy a book but wish there was still more to it.  If one of the top Sushi Cookbooks doesn’t teach you how to make a California Roll, make sure to include it in your sushi cookbook.

Hack your ebook content strategy by reading 4-star reviews and finding out what's missing in the ebook

If you want to spend a little money, another hack is to download up to 20 of the top ebooks in your space.

Then read through the “Popular Highlights” in each and sort them by “most popular.”  This allows you to read each of the books in a quarter of the time.

You’ll also know what topics are a must to include in your own ebook.  The more highlights, the more important it is to include.

Step 2: Creating a Catchy Title for Your eBook

Titles are a tough one.

Besides the cover, a title is the most visible thing about your ebook.

The combination of a great title and well-designed cover are going to draw possible buyers in more than anything else.

There are a couple different strategies you can follow when coming up with a title.

First, you can look to bloggers.

Bloggers have been perfecting the art of titles for a long time.  Like with ebooks, your blog post has to have a catchy title to attract readers.

One method bloggers use to create catchy titles is a formula in four parts:

Part 1: The Format

What type of ebook is this going to be?  Is it going to be a list?  A series of facts?  Strategies?

How many items in the list will there be?  How many facts or strategies?

Having a number in the title juices its catchiness.

This really only works if you’re going to write a non-fiction book transferring knowledge or helping someone accomplish a task.

Part 2: Emotional Hook

Use a power word like “Amazing” or “Powerful.”  Something to draw the casual browsers attention.

Our brains are drawn to these types of words.

When you read them, your brain can’t help but be triggered.  It’s an automatic response found in the amygdala which handles emotions, survival, and memory.

Part 3: Content Type

Here you state whether the ebook is a series of facts, strategies, myths, etc…

This is the meat of the ebook.  The details of how you’re going to help the reader achieve or understand the subject.

Part 4: Your Subject

Is the book about losing weight?  Saving money?  Investing?  Eating healthy?

Here you state the topic.  What the whole ebook is about.

Putting these four parts together would get you titles like:

10 Insane Facts to Help You Lose Weight

8 Crazy In-Depth Profiles of Dividend Aristocrats

13 Powerful Strategies to Increase Your Willpower

How to create a catchy title for your ebook

Poll The Audience

If you’d prefer not to copy blog titles, you can analyze the titles of best sellers in your niche.

Create two lists:

  • Every title of the best sellers in your niche
  • Word association.  Write down every word or random thought that might have something to do with your topic.

Try to combine these two lists into a series of title options.

After you’ve got a handful of titles, ask your friends and family to look over the list and pick out their two favorites.

Based on their feedback, test the final two with a cheap Google AdWords campaign.  This is what Tim Ferriss did to come up with the title of his best-selling book “The 4 Hour Workweek.”

Once you’ve picked your ebook topic and come up with a working title, it’s time to start writing.

Step 3: Create Your Outline

You want to map everything out.

Every talking point, important fact, introduction, conclusion…all of it.

Look at the table of contents of bestselling ebooks in your niche for inspiration.

The more thorough your outline is, the easier it will be to write the ebook.

A simple way to create a thorough outline is to take all the highlights from your content research and put them on individual notecards.

Also, take all the missing bits you collected from reviews and add those to notecards.

Scrivener is a great writing tool for this kind of work.  You can create digital notecards of all this stuff.

Using a tool like Scrivener makes outlining your ebook simple

Once you’ve got every highlight on a notecard, start arranging them in the order you want.

Try to combine highlights into larger groups.  Choose 3-5 sections.

If the ebook is going to have more of a list feel, choose 10-15 sections.

Now each highlight is an area to expand on during your writing sessions.

Step 4: Create a Writing Schedule

You’ve got to develop a writing schedule and stick to it.

If you’re worried about getting burnt out, take an hour each day and expand on one highlight.

Or, set a date you want the book finished by.  Divide the number of highlights in your book by the number of days until your target date.  100 highlights / 50 days = 2 highlights per day.

Put aside time each day to write about two highlights.

Use the Jerry Seinfeld method to track your productivity.

Using the Jerry Seinfeld method to track your ebook writing progress

The easiest time to write is between 10 pm and 8 am.

Almost everyone else is asleep and you’ve got no distractions.  There is no one to bother you.

Start going to bed late or waking up early to do your writing.

Step 5: Editing Your eBook Like a Pro

The easiest and cheapest option is to edit the book yourself.

While Scrivener, Google Docs, and Word all have decent spell checkers, you’re going to want to run it through something more robust.

Use a tool like Grammarly.  It’s a free program that not only checks spelling, it makes sure the word choice is correct based on context.

“Their” won’t show up as a misspelled word in Google Docs, but Grammarly will say it’s wrong if your sentence is “the book is over their.”

Other features in the free version include grammar checking and vocabulary enhancement.

The premium version also checks punctuation, sentence structure, and even style.

You can also give a copy of your ebook to friends and family for suggestions.  Have them point out any glaring mistakes they catch.

The final, more expensive option, is to hire an editor from Freelancer.  It’ll cost you some money but it’ll also guarantee a professional will be making sure everything looks good.

Step 6: Designing the Cover

Unless you’re a VERY creative person, I’d look to outsource this part.

You know the old adage, “never judge a book by its cover.”  Well, that’s not the case on Amazon.

EVERY book is judged by its cover.

You want to make sure yours looks professional and stands out from the crowd.

A quality cover makes your ebook look professional.  It shows you mean business and the content inside is of a high quality.

For great design covers, there are a few places you can look to:

99designs:  This is the high priced option.  A book cover will typically run you between $50 and $500.  I know, it’s a big spread.

With 99designs you’ll run a contest.  You’ll write up a description of what you’re looking for and then people will submit their designs.

You put a price up front on how much you’re willing to pay for the design.  The higher the price, the more design submissions you’re going to get.

Run a contest on 99designs to get an ebook cover

Freelancer:  A book cover here will probably be less than $50.  With Freelancer, you hire a freelancer to do the design work.

Unlike 99designs, you pick one designer and pay them to do the work.  So before you pick one, make sure to look at some of their samples to make sure it’s on par with what you’re looking for.

Usually, you contract someone out at an hourly rate, but you can also set a price for the full project.

Hire someone on Freelancer to design your ebook cover

Fiverr:  The cheapest option.  Get an ebook cover designed for $5.  Everything on Fiverr is only $5.  While you may be thinking it’s impossible to get a good design for that much, but you’d be wrong.

Some of the people on Fiverr are trained individuals getting started.  They’re making very little money to build a portfolio and get their name out there.

Step 7: Formatting, Pricing, and an Enticing Description

Formatting

Once the ebook is written, you’re going to need to convert it to the Kindle format before publishing.

If the ebook was written in Word, you can use Amazon’s Kindle Create.

It’ll help you:

  • Preview and edit the ebooks as it will appear in Kindle format.
  • Create and edit your table of contents while styling your ebook
  • Add professionally-designed themes to make your ebook better-looking and easier to read.

If you don’t want to take the conversion process on yourself, there are plenty of professional services out there willing to handle it for you.

Amazon even has a list of companies specializing in ebook conversion.

Pricing

Most people read ebooks over physical books because of the price.  This is where ebooks have a distinct advantage.

Because there aren’t any physical materials to buy, the cost of those materials doesn’t have to be taken into consideration.

The price can be whatever you want it to be.

On Amazon, the sweet spot is between $0.99 and $2.99.  Everyone used to price their eBook at $0.99 but it’s going away.

People give higher value to higher-priced items.  When all other things appear equal, we automatically assign a higher quality to premium priced items.

$2.99 gives the appearance of higher quality compared to  $0.99.  But $2.99 is still at a price people are willing to spend without thinking too much about it.  That’s our sweet spot.

Price your ebook at $2.99

Description

After the cover and title, the ebook description is the next thing your potential buyer is going to see/read.

You need a good description to entice them to buy the ebook.

Take your time!  This is an important one to get right.

Use books in the Amazon Top 100 for inspiration.  Figure out how they grab someone’s attention and try to mimic it.

A good description will go a long ways.

Step 8: Getting Reviews

Anyone who has shopped on Amazon knows the importance of having a few reviews.

Preferably good reviews.

When someone compares two items, one with 30 four star reviews and one with 3 four star reviews, guess which one they’re buying?

Good reviews mean other people have bought your ebook and found it useful.  That tells the potential buyer they should too.

It’s social proof your book is good!

Use social media, friends, and family to get some positive reviews.  Have them go to Amazon, buy the book, and leave a review.  If they complain about the $2.99, pay them back.

It’ll be worth it in the long run.

A word of warning.  There are services out there where you can pay for reviews.  DON’T DO THIS.

Amazon is getting better and better at determining which are paid reviews and which aren’t.  I can see a day where you’ll get penalized for having these fake reviews on your product.

Building a Review Bank

Once you’ve got a list of people willing to write a review, give them a PDF copy of your ebook.

Have them write a review and tell them to hold onto it.

You want a big launch event with purchases and reviews coming into Amazon right when the book is published.

This is how you get on the Amazon bestseller list.

When the book does finally get posted on Amazon, have everyone go and buy it.

You may be thinking “Why would you have them buy it after you’ve already given them a copy?”

Amazon needs to know the people writing reviews are certified buyers.  It makes the reviews more powerful in the eyes of Amazon and the potential buyer.

Verified purchase reviews are more powerful than non-verified

After purchasing, tell them to go ahead and post their review.

Step 9: Marketing and Promotion

You’ve put in the hours writing.

Emails have gone back and forth with your designer getting the perfect book cover.

Every person you know is ready to write a review on Amazon.

Now it’s time to really dig in and start marketing.

Marketing and promotion are what separates an ebook that makes money and one that doesn’t.

Where a publisher would handle this part with a regular book, this is something you’ve got to take care of.

You need to get the word out BEFORE the book is actually published on Amazon.

Why before publishing?

Because you want your book to hit the best-seller charts right when it’s published on Amazon.

To do it, you need to have people interested and ready to buy the moment the book is available.

You’ve got to build relationships.

Create an Author Profile

It’s a common theme.  Famous authors try to write books under different names and fail.

Stephen King did it with his alter ego, Richard Bachman.  In the mid-80s he tried writing a few books under the pseudonym and they flopped.

One book, Thinner, only sold 28,000 copies of the initial run.  After word got out Richard Bachman was, in fact, Stephen King, the book sold ten times that.

J.K Rowling did the same thing.  She wrote The Cuckoo’s Calling under the name Robert Galbraith.

The hardback version sold 1,500 copies.  Word got out Galbraith was Rowling and sales rose 4,000%.

People buy books from authors they know and recognize.

Let people get to know you.

Find a good picture and use it on all your author related websites.

Create a blog, social media accounts, and a profile on Amazon Author Central all using the same picture.

Consistency is comforting.

Start a Blog

In this day and age, you’ve got to have a blog.

If you do any sort of work you want to be recognized for by anyone outside your friends and colleagues, you have to have a website.

The easiest way to go is to start a WordPress.com site.  It’s free and simple to set up.

If you can, I’d recommend spending $2.99 a month to get a custom domain.

This way you can have the site www.johnsnow.com instead of www.johnsnow.wordpress.com.

It looks more professional the first way don’t you think?

Start sharing advice and tips related to your niche.

Steve Scott's website to promote his books
Steve Scott’s blog to promote his ebooks

If your niche is healthy, organic dog recipes, start sharing a few recipes that aren’t in your ebook.

Show pictures of cute dogs.

Talk about what foods are healthy for dogs and what foods aren’t.

The Power of Social Media

There are so many avenues to travel down when it comes to social media.

The two giants in the room are Facebook and Twitter.

  • Create a Facebook page.
  • Start a Twitter account.

Anything getting posted on your blog should also get posted on Facebook and Twitter.

From there, you can do a few things.

  • Get involved on Reddit
  • Answer questions on Quora
  • Do guest posts on other niche blogs or on sites like Huffington Post and Inc
  • Create an Author Profile on GoodReads and Amazon Author Central.

The more places you can get your name out there, the better shot you have of becoming a success.

More Marketing or More eBooks?

Does this whole marketing thing seem a bit daunting?

It can be a bit overwhelming.

There are so many things to do it can seem like there is no point starting…and that might be the right way to go.

Making money writing ebooks is a numbers game.

You can write one ebook in a week, spend months or years marketing the hell out of it, and try to make $10,000 per month.

Or, you can do what Steve Scott does, and write 20 ebooks each making $500 per month.

He’s still got his blog, Facebook page, and Twitter profile, but, beyond that, there isn’t much marketing.

Write and edit the book.  Design a cover.  Get your friends, family, and whatever followers you have to write a review and then publish.

Wash, rinse, repeat!

Once you have your name out there for one good book, it becomes easier to sell another.  And another.  And another.

Resources:

Books:

Blog Posts:

Tools:

Conclusion

Writing an ebook seems daunting, but all the barriers are gone.

No one is telling you how long it needs to be, what you need to write about, or even what the title should be.

All you need is the desire and discipline to do it.

Our American expats took the research they already did and turned it into a nice little monthly passive income.

There is something you have knowledge on which can turn into a few thousand words that someone is willing to pay for.

Happy writing!

Have you made money writing ebooks?  Any tips or recommendations?

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65 Amazing Residual Income Ideas [2017 Update] https://www.themoneysnowball.com/residual-income-ideas/ https://www.themoneysnowball.com/residual-income-ideas/#respond Mon, 20 Mar 2017 06:15:43 +0000 https://www.themoneysnowball.com/?p=135 I’ve spent hours upon hours listening to podcasts and thinking up residual income ideas. There have been courses brainstormed and ebooks I’ve outlined. Review websites I’ve built and a host of suppliers I’ve contacted. With each new podcast about someone making money from a business, I’d run off down a tangent of what’s possible. The …

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An epic list of 65+ Residual Income Ideas

I’ve spent hours upon hours listening to podcasts and thinking up residual income ideas.

There have been courses brainstormed and ebooks I’ve outlined. Review websites I’ve built and a host of suppliers I’ve contacted.

With each new podcast about someone making money from a business, I’d run off down a tangent of what’s possible. The whole time, all I wanted was a list to look at.

Something that I could scan to see what is possible and then choose whichever one seemed the best.

I’d find a few here or there, but nothing much.

Well, because I couldn’t find it on the internet, I decided to create it myself.

Here is every residual income idea I’ve ever come across or thought of.

 

1. Invest in Dividend Stocks

Earning a check from dividend investing

This is a favorite of mine, Warren Buffett’s and a lot of other investors or anyone seeking to make passive income.

Here you’re making residual income from an initial investment of cash. You buy a stock and then on a quarterly or monthly basis a “check” get’s sent to you.

That’s it.  No more time or money need to be spent. It’s like a little ‘thank you’ from the stock issuer.  Read more.

 

2.  Invest in Closed-End Municipal Funds

Closed End Fund Investing

Another one like stocks but the investment vehicle is different.

Someone takes a bunch of safe municipal bonds and bundles them into a fund. That fund pays out a high yield dividend each month as residual income.

The beauty of closed-end municipal funds is that the dividends are tax-free on a federal level. Sometimes even state tax-free depending on the fund. They typically have a much higher yield than stocks, too. Read more.

 

3.  Write an eBook

Write an ebook to earn extra money

Got some knowledge in your head that people keep asking you about? Tired of telling everyone you know how to get free flights? Stop telling them and write an ebook.

There are bestselling ebooks on Amazon that are 20 pages long. With ebooks, because it’s not sitting on a shelf, no one is deciding whether it’s good or not based on the length.

An ebook will sell well if the material is good.

Write down whatever it is you know, put it into a book, and post it on Amazon.  Read more.

 

4.  Invest in a Rental Property

Lots of people have made fortunes off rental properties.

Think how much you have or have had to pay in rent. Now think about if you were receiving a check for that amount from someone else each month? Pretty great, huh?

There are a lot of concerns that come with owning rental property. Maintenance, bad tenants, empty units, but the returns are huge if you’re willing to take on some risk.

 

5.  Virtually Invest in a Rental Property

Realtyshares.com gets you residual income without the risk

You can also get around a majority of those rental property risks and by crowdfunding rental properties. No need for a big down payment either.

The rental check you get each month will be smaller, but so will the headaches.

Join hundreds or thousands of other people on an investment and then split the rent check each month. It’s that simple.  I like RealtyShares for investments like this.

 

6.  Invest in Office Space

Crowdfund your investment in office space

This is the same as investing in a rental property (virtually or actually).

Instead of people living there, you’re finding office space to rent out. A new trend with this idea is to find an old building and renovate it.

Renovated office space is the biggest trend here in Portland. Everyone wants to work in the cool old brick building with huge, open spaces inside.

Again, this one can be a major headache trying to find tenants. Worse than finding renters. It also requires more upfront cash.

Good thing you can invest in office space virtually.

 

7.  Create an App

A simple drag and drop app builder

Apple and Google are trying to make it as simple as possible to make an app.

There are even programs out there that build an app like you’re building a PowerPoint presentation. Drag and drop.

If you come up with an idea that’s too complex, hop on Freelancer to hire a developer with more experience.

Post it on the App Store or Google Play (or both) and watch the payments roll in.

 

8.  Create Software

The Foundation teaches you to build software for residual income

Like building a phone app but it’s online or something a person downloads.

Typically these are more in-depth than an app and need a bit of development on the front end. If you don’t have any programming experience, definitely go to Freelancer for this one.

Call around to brick and mortar business owners and see what problems they’re having.

Say you call around to the dry cleaners in your area and they all have the same problem. Come up with a software idea that solves that problem.

Call back those same individuals and tell them they get a discount on your software with an upfront payment. Take that cash to a developer and get the program built.

Now start selling it to every dry cleaner in the country. Passive residual income with every sale.

This is one of the easier places to earn business income.  There is a host of people out there who started software like this to earn residual income.  After the software took off, their businesses were purchased…for a lot.

 

9.  Rent a Spare Room

Become an Airbnb host and start earning money

Airbnb has made this one super simple.

If you’ve got an extra room in your apartment or house, start renting out that extra room. Sure, you may have it filled with some junk, but clear out some space for another bed.

Then let people rent it out for a few nights at a time.  Space is there, why not take advantage of it?

Go through a service like Airbnb.

You have to be comfortable with meeting new people every so often, but this one doesn’t take a lot of extra work on your part.

 

10.  Make an Online Course

Build an online course and start teaching people

I’ve talked about taking your knowledge and putting it into a blog or an ebook. Making an online course is the third option.

Making a course means you create a blog, an ebook, and a YouTube channel all at once.

The nice thing about an online course, though, is that the timeline is finite. You’re usually working on each of those things for a few months and that’s it. You spend the rest of your time selling.

Teachable makes it easy to build a self-hosted course with all the material and tools you’d need.

 

11.  Peer to Peer Lending

Become a bank and start lending other people money...with interest

With peer to peer lending, you become a bank.

There are a lot of people out there in need of a loan. They may be looking to pay off a credit card or need the money for a home improvement project.

A peer to peer lending site, like LendingClub, pools the money of various ‘investors’ and then loans the money out. Like a RealtyShares.

Like a bank, you earn monthly residual income from the interest payments the borrower is making.

 

12.  Use Cash Back Rewards Cards

Earn cash back on a credit card with the easiest residual income idea

We’ve all seen the commercials, but cash back reward cards are one of the easiest residual income idea to start. As long as you’re smart about it.

I like the Chase Freedom Unlimited because you earn 1.5% cash back on every purchase and it doesn’t come with any annual fees.

But, this method of earning residual income only works if you pay off your credit card bill every month. In full.

If you’re not able to do that, the interest payments are going to kill any residual income you may have been making.

That means, if you’re disciplined on spending, you should be making all your purchases with a cash back reward card.

 

13.  Shop through Cashback Sites

Earn money shopping online with the second easiest of the residual income ideas

If you do any online shopping, go through a cash back portal like Ebates. This might be the second easiest residual income idea.

Ebates looks a little bit like a Google for stores. Say you want to buy something online from Nordstrom. You’ll go to Ebates, search for Nordstrom, and then click the link taking you to Nordstrom’s website. Make your purchase and you’re all done.

You’re not actually buying anything from Ebates but, instead, using it as a gateway. Ebates tracks where you go, what purchases you made, and then gives you a certain percentage cash back.

Combine Ebates with a cash back reward card and that’s a nice little chunk of change coming back for shopping you were already going to do.

 

14.  Build a CD Ladder

How a CD ladder works

Certificates of deposit, or CDs, are a safe way to earn a little higher interest rate on your savings. Especially when compared to bank savings accounts.

The problem is locking your money into that CD for the duration and it’s not accessible.

Building a CD ladder solves that problem. With a CD ladder, you split your money up and invest it in CDs of varying length. That way you’ve always got some of your savings available for an emergency.

This is a poor method for earning income to start an income snowball. It is a decent way to increase your income snowball, though.

 

15.  Install the SwagBucks Extension / Search through SwagBucks

Shop through Swagbucks online portal to earn points

SwagBucks is a bit like a cashback site, but with a twist. Unlike cash back sites where it’s a shopping portal, SwagBucks wants to replace your search engine.

As you do your normal day to day internet searches through SwagBucks, you’ll earn points that you redeem for gift cards or cash.

You’ll also have the opportunity to earn more points by taking surveys or watching videos.

 

16.  Buy and Distribute Candy/Vending Machines

It’s going to take a little legwork and up-front cash, but this can turn into a pretty passive residual income stream.

There isn’t much to it besides buying a candy machine and some bulk candy.

Once you’ve got both of those, start looking around your neighborhood for businesses. Ones that wouldn’t mind having a little quarter candy machine by the door of their office. It helps if kids frequent the building, too.

Ask the owner if they’d mind you setting up a candy machine if you give them a small cut of the profits.

Come back every once in a while to refill the candy and collect your bucket of quarters.

 

17.  Start a YouTube Channel

Create a popular YouTube channel and earn residual income from ads

Kind of like building a blog but with a lot more freedom. Blogs that teach or inform people perform better when it comes to creating residual income.

YouTube videos can be about pretty much anything and still bring in money.

If you’ve spent any time on YouTube, you know there are videos for everything imaginable.

Take whatever hobby you have and start making videos about it. Click a little checkbox allowing advertising on your channel and then get paid while people watch.

 

18.  Make Money on Twitch

Earn money playing video games

Are you good at video games or enjoy playing? Why not make some money while you’re at it?

Twitch is like YouTube for video games. People upload videos of themselves playing and, like YouTube, Twitch sells advertising on the videos.

If you get people watching your videos, you’re going to start earning a share of that advertising income.

This is a residual income idea that completely piggybacks on your hobby.

 

19.  Sell Your Photo Prints

Sell your photos for extra money

If you’re a photographer or think your iPhone pictures are awesome, considering selling your prints.

Set up a Shopify store and install an app like Printful. Upload your photos, set the price and let your customers shop.

Shopify and Printful handle all the hard work. When a sale comes in, Printful creates and ships the poster without you having to do any extra work.

 

20.  Start a T-Shirt Business

Make it easy to sell shirts. Provide the design and Printful will take care of the rest.

Pretty much the same as selling photo prints. Printful will also make T-shirts, mugs, leggings, pillows…you name it.

All you need to do is set up the store, create the design, and find the customers. Printful will take care of the rest.

This can turn into a pure passive income business too.  If you set the store up and get some good designs,  there isn’t a whole lot of work to do.

Wait for people to find your site and hopefully purchase a shirt.  Each new sale will be a nice surprise!

21.  Sign-Up at Banks

Sign up for bank accounts and get special bonus cash

This isn’t a long term money maker, but it will generate some easy money and it’s something you could do for a while.

Banks offer a sign-up bonus new savings account or checking account holders.

There are some hoops you have to jump through, like depositing a certain amount, leaving it in for a length of time, having automatic deposits.

If you’re not afraid of doing a small amount of work to meet all the necessary requirements, this is a great way to make some residual income.

And there are a lot of banks that offer up these bonuses.

 

22.  Create a Comparison Site

A residual income idea that compares products and sells advertising

I don’t know about you, but when I’m trying to decide between two products to use, the first thing I do is a comparison search.

Take a router for example. If I’ve narrowed my choices to the Netgear Nighthawk X4S and the D-Link AC3200, the first thing I’m going to do is Google: Netgear Nighthawk X4S vs. D-Link AC3200.

And there is your website.

Niche down your topic to something you’re interested in. Find all the best products and then start writing blog posts comparing pairs of them.

Put ads on the site and direct them to Amazon with affiliate links.

 

23.  Create a Top 10 Site

Create a site that lists the top 10 products

Like the Comparison Site but now you’re creating a top 10 list of products. This is what I’m looking for before doing a comparison.

Research a product category and then make a list of the top 10 products.

List out the pros and cons of each and why they’re ranked the way they are.

 

24.  Build a Dropship eCommerce Store

eCommerce is one of the residual income ideas with a huge upside

Drop shipping is a program where your supplier takes care of the shipping and handling of your product. You’re responsible for customer service, marketing, etc…

As this becomes popular, there are more and more suppliers willing to offer drop shipping.

Try to niche down on a product category that isn’t too large but is a bit underserved.

Search for a supplier that sells those products and also offers drop shipping. Set up a Shopify store and start attracting customers.

Some suppliers will allow you to send them an invoice straight from Shopify. This means less work for you, but others might need a bit more work.

Either way, it’s all done from a computer so the opportunities for near passive residual income are huge.

 

25.  Build and Maintain a Website for Real World Stores

Create and maintain websites for local businesses

If you’ve ever created a website, whether it’s WordPress, Wix, or Squarespace, you already know a whole lot more than other people out there.

In today’s world, every business needs a website. I get skeptical if a place DOESN’T have a website.

Start searching for local stores online and find a list of ones that don’t have a website. Or, better yet, ones that have a terrible website.

Approach them about making one and, for a small monthly fee, maintaining it.

If you’re able to attract the right businesses, there won’t be a whole lot of maintenance work on the backend. You’ll have income checks rolling in each month for very little work.  This could practically be a passive residual income idea.

 

26.  Create a Niche Stock Photo Site and Get Royalties

Create a niche stock photo site for extra money

Websites are always in need of great stock photos. The more visual a site is, with professional looking photos, the more traffic it’s going to generate.

Not every website creator can take amazing photos and this is where stock photos come in. There are sites where you can go pay a small fee to download and use great-looking photos.

That market is saturated, but you can put a new twist on it. Niche the stock photos down to a smaller category.

If you like snowboarding, start taking a ton of great pictures of you and your friends snowboarding. Then create a snowboarding stock photo site.

The big stock photo places only have a limited number of pics from individual categories. If you dominate your category, every person looking for snowboarding pictures will come to you.

 

27.  Write for Publishing Platforms

Earn money writing for network hubs

If you enjoy writing A LOT, you can make money writing for publishing platforms.

Publishing platforms give you some of the benefits of a blog but without having to build the site and traffic yourself.

You’ll write a high-quality article for a site like Hubpages. They’ll post your article, along with some ads.

Like people clicking ads on your own blog, you’ll get a share of the advertising clicks that occur on Hubpages.

Hubpages will take a share of that revenue, but the reason you publish on there is to make use of the traffic they already have. It’s like selling on Amazon instead of creating your own online store.

 

28.  Build a Book Review Site

Review books and earn affiliate income through Amazon or Blinkist

People always want the skinny on a book before spending the hours to read it. Some will look at the star rating on Amazon, but others want a more in depth review.

Give the people what they want and start a book review site. That is if you like to read a lot.

One cool tool I’ve found to speed up the reading process, which you can use for this site, is an app called Blinkist.

It takes entire books and breaks them down into 15 minute reads.

Read the 15-minute “blink” and then write a review.

 

29.  Build a Fake Online Store and Redirect to Amazon

 

You’re creating a blog with this one, but the layout is more like an online store.

Each product will have its own page with pictures, descriptions, and reviews. If you convince someone to click the “Buy” button it will redirect to the Amazon product page and you’ll get a cut of the sale.

How this would work is if you became the best resource on a product category.

As Pat Flynn says, the riches are in the niches. Find something underserved and create the best resource for it.

 

30.  Photo Booth Operator

Build a photobooth and start renting it out to wedding and parties

I’ve been talking about online or digital work with this list so far, but here is our first physical product.

With a camera, a tablet, and a little handy work, you can create an ultra-portable photo booth that you rent out for weddings and events.

Even if you’re not a carpenter, I imagine you can hire the construction out to someone who is for a few hundred bucks.

Then you need to market it to events, drop it off, pick it up, and you’ve got a pretty simple residual income stream flowing in.

 

31.  License Music

Earn residual income by licensing music you make

This is for all those musicians out there.

While it might not be a dream, licensing music out is a great way for musicians to make residual income. There is the obvious route of trying to get a commercial to pick it up, but that’s a tough sell unless you’re a major artist on a major label. Plus, they usually come looking for you.

Instead, you could use a site like Audiosocket to upload some music for licensing. Audiosocket is a marketplace for music licensing. People search for audio that they’re looking to add to a video, website, you name it.

Another choice is to join Freelancer and work with people directly. They’ll have more input on the “sound” they’re looking for but you would earn more too.

Audiosocket is definitely a passive residual income idea. Working with Freelancer is a higher paying source of residual income with a bigger time commitment.

 

32.  Network Marketing (Avon, Pampered Chef, Advocare)

If you’ve heard of a pyramid scheme then you’ve heard of Network Marketing.

That’s not fair because network marketing is legal while pyramid schemes are illegal.

With network marketing, you join a company like Pampered Chef to start selling their products. Usually, you sell product by leveraging your network.

Where the big money comes in, and passive residual income, is by recruiting other people to sell for you. If you recruit someone, you start earning a slice of their sales. Then if they recruit someone, you’re earning a slice of BOTH their sales.

On and on it goes. I’ll caution that you THOROUGHLY research the market you’re joining. Some of them, while not quite illegal are major scams.

Be careful.

 

33.  Own Storage Rentals

People have a TON of stuff.

We’re great at buying, but not so great at getting rid of. If you walk around an average neighborhood, people are parking in the driveway because the garage is full of stuff.

That’s why self-storage is a multi-billion dollar industry. If you’re able to get some money to buy a piece of land and build a few storage sheds on it, you’ll be able to tap into that market.

At the very least, if you have a backyard, build a shed and start marketing it to people in your neighborhood. I’m sure you’ll be able to find someone in need of storage space.

 

34.  Airline Miles Credit Card

The bonus miles from credit cards can be converted to cash for residual income

I love this one residual income idea.

Airline miles are the often overlooked goldmine. The sign-up bonuses are amazing and it’s an incredibly easy way to get free travel.

Most people shy away because of the annual fees, but you can credit card churn and avoid that. There is a whole trick to it, but just know that applying for a lot of credit cards doesn’t hurt your credit score.

What hurts your score is late payments, no payments, and racking up interest. That last one won’t hurt your score, but it’ll hurt your income snowball.

There are some cards out there that offer 150,000 point sign-up bonuses. That 150k can turn into $1,500. Not a bad source of residual income.

You’ve got to be smart with your money and be able to pay off a credit card every month, but this is a fantastic way to earn residual income.

 

35.  Take Surveys

Take surveys to earn extra money

Companies are always looking for ways to get in the heads of consumers. They have a hard time doing it.

To get more feedback, they offer payment to people willing to take surveys.

We’ve already talked about Swagbucks offering points for the surveys you take there, but My Survey is also a good option. Like Swagbucks, you take surveys and earn points.

With those points, you can get gift cards or PayPal cards that can turn into cash.

36.  Sell Garage Sale/Goodwill Stuff on eBay

One of the residual income ideas that has you selling old things to earn money

Garage sale hunters are onto something.

Garage sales are a treasure trove of discount merchandise. It’s not surprising. Most people hosting a garage sale are looking to get rid of stuff and make a few bucks. The #1 goal, though, is to clean house.

If you’ve got an eye, you can snag something for cheap and turn it around on eBay for a healthy profit.

Gary Vaynerchuck is a huge proponent of this residual income idea.

It takes a little bit of skill to determine what you can re-sell and what is junk, but it’s not a tough skill to learn.

 

37.  Party Chair and Table Rental

Rent out tables and chairs to weddings and parties for income

Weddings cost a fortune. And people are willing to pay a fortune for their wedding.

Part of that cost is renting tables and chairs for the ceremony and reception. If you’ve got some storage space around your house, buy yourself a nice set of both.

Take a few pictures of them and start marketing. If you’re able to undercut the major distributors, you could have a goldmine on your hands.

People are always looking to cut costs and these two items are a perfect opportunity to offer that. Most of the time they get covered up with linens anyways.

Take some time to research what to buy, though. Some fancy looking chairs will cost more up-front, but it may get more business. You can sell the renter on not having to rent chair covers which are another savings. It’s all about the savings.

You may also need to own a truck for delivery and pick-up. Or leave that to the renter, it’s your choice.

 

38.  Franchise a Business

Start a franchise and grow your residual income

Have you ever seen The Blind Side? The story of that wealthy family in Tennessee who took in a homeless kid and raised him. Well, they got all their money from franchising.

Franchising fast food joints to be precise. Fast food isn’t the only option, though. There are even moving companies that offer franchising opportunities.

Do a little research and see which one you’d be most interested in.

Some need a high franchising fee and quite a bit of management, while others don’t.

It’ll take quite a bit of work to get up and running, but the residual income can be great.

 

39.  Start a Fitness Gym

This doesn’t have to be anything fancy like a 24 Hour Fitness or LA Fitness. You don’t need 30 treadmills and 40 ellipticals.

Look for available space near your neighborhood. It could even be office space. I know of a gym that used to be an accountant’s office.

Buy a set of free weights, a treadmill, and a stationary bicycle to start. Then find some customers.

When it comes to gyms, most people are looking for convenience over amenities. If I can save myself a 10-minute drive to the gym, I’m ecstatic.

If you start getting more customers, you can start buying more equipment and expand. Don’t think you have to have the gym fully stocked to begin with.

Something close, simple, and convenient will attract a lot of people.

 

40.  Own a Duplex

Own a duplex and live in one side. Rent out the other side for passive income

Owning a duplex gives you a place to live and a rental for residual income.

If you’ve got the money for a downpayment on a house, look for a duplex instead. Your mortgage payment would be about the same and you’d have rental income coming in every month to help with the mortgage. Or pay for it entirely.

It might not be your dream home, but the money you’ll get from renting out the other half will help you get to that dream home faster. Plus, when you move out, you’ll be able to rent both halves for even more income.

 

41.  Sell Crafts on Etsy

One of the residual income ideas that uses your hobby to make money

If you’ve do any kind of crafting as a hobby, start making money for it on Etsy.

I have a friend who makes custom designed cornhole boards and sells them on Etsy. My wife ordered half the decor for our wedding from various people on Etsy.

Don’t worry about the fear of people’s interest in what you’re making. If you’re interested in it, there’s a very good chance that other people are too.

Take a few pictures of what you’ve already made and create a store. You’ll be surprised with what happens next.

 

42.  Start a Blog

Blogging can be a hobby that brings in a lot of residual income

Like writing an ebook or building an online course, but this one can take a lot more time to be successful. Or, you could start earning money quick, depending on what niche you choose.

With a blog, you create a website and then start sharing content. The content could be informative, it could teach something, it could be entertaining, or news related.

The opportunities are endless.

On your blog, you have the ability to offer up advertising space and promote products. Selling advertising space and affiliate marketing is the easiest way to earn residual income on a blog.

A blog also allows you to create and sell your own products.

With a successful site, you could sell an ebook or course directly from the blog.

Getting traffic to your blog is difficult at first, but the possibilities are endless.

 

43.  Affiliate Marketing

Become an affiliate marketer to earn passive income

Affiliate marketing is typically done on a blog that you own.

You’ll write about or mention a product and insert a link back to that product. It could be on Amazon or somewhere else.

If the customer makes a sale after using your link, you’ll earn commission on the sale.

Like I said, this is typically done through your own site, but you could write on other sites like Medium and insert affiliate links there.

Pinterest also allows affiliate marketing so you could build up a following and direct people through your pins and boards.

 

44.  SEO Consulting for Local Businesses

People only go places in the real world after searching for it in the digital world.

If you’re looking for a frame store, a paint store, a cobbler, or a barber, you’re going to search for them online first.

You’re going to try to find reviews or something that will make one stand out from the other. Something that will make deciding where to go easier.

Local businesses need help standing out. The higher you can rank for a local search, the more business you’re going to get.

If you know anything about SEO or have a desire to learn, this is a great opportunity.

You don’t need to know everything, just more than store owners. Sell them on what you can do and then help them increase their local rankings.

 

45.  Niche Website Portfolio

Start up niche websites and start earning small amounts of passive income from them

Kind of like building a blog, but here you’re creating a series of small and very niche websites.

Pat Flynn has a niche website called Food Truckr that helps people start and grow their food truck business. The audience isn’t massive but there are a lot of people out there interested in the topic.

Because small niches aren’t popular, there isn’t much competition when it comes to ranking. This makes it easy to get a lot of traffic quick.

Now, because the niche is small, the income potential for one site isn’t that big. But money is money and we’ll take it.

If you get good at this, you can start building a portfolio of niche sites. Each one bringing in small amounts each month.

 

46.  Party Hall Rental

Wedding venue rentals is a competitive business…for the people getting married.

Couples are having to find their venue and book them months, even years in advance. The venue owner has to get the word out and wait for people to start calling.

Like renting office space, this one takes even less maintenance.

Imagine yourself getting married. Think about your ideal spot or where you think it’d be fun to host an awesome party.

Now start looking for places for sale that match your imagination.

Some of them might need a little work, but after your initial investment, everything is passive residual income.

 

47.  Sell Resume Templates

Create and sell resume templates for passive income

Every year, thousands upon thousands of people are sending out resumes. People need jobs and in order to get one, you have to send a resume.

People are constantly looking to update their resume or create one for the first time. And they always need help.

Formatting one from scratch is a difficult process that people don’t want to deal with. It’s complicated enough writing the thing.

Create a series of templates and sell them through a site like Gumroad.

Make sure you offer a variety of styles as well as templates for different word processors. Not everyone uses Microsoft Word.

 

48.  Drive for Uber/Lyft

Earn income by driving for Lyft on the side

Another dead simple residual income idea.

This is an easy one as long as you own a car and a driver’s license.

Sign up and put the time in. That’s it.

 

49.  Build a Social Media Following

Use your big social media following to earn income

Making money from your social media account may sound like a dream to a lot of people. The only question a few of you may have is how exactly to do it.

Shay Carl, from YouTube fame, has joined with a few other creators to build Social Blue Book.

You enter how many followers you have on YouTube, Instagram, Twitter, etc…and Social Blue Book will tell you how much accounts are worth.

Essentially, how much a company will pay you to promote one of their products to your following.

They’ll even help you set up the deal with an advertiser.

All you have to do is generate a large enough following for it to be a significant amount of money.

Making residual income from hanging out Instagram all day sounds pretty good to me.

 

50.  White Label a Product and Sell Online

Build your own supplement brand with white labeled vitamins

White Labeling a product means that someone else has created the product and you’re putting branding on it.

One common version of this is white labeling vitamins and supplements. Go through a place like Nutricap Labs and order vitamin C, or fish oil, or any other kind of supplement.

It’ll be their pill formula, but you’ll be able to market and brand it however you like. If you didn’t know, marketing is the great differentiator.

Find an underserved product and white label it. Or find a product that is missing out on a key demographic and start marketing to them.

One example could be multivitamins to teenagers and 20 somethings. Most of them don’t even consider taking a multivitamin every day. But what if you could create a marketing strategy that appealed to them.

Create a site on Shopify and start selling.

 

51.  White Label a Product and Sell on Amazon

Take the exact same process from number 50 and sell on Amazon.

You won’t have quite as much control over the branding, but you’ll already have a built in marketplace with millions of shoppers.

 

52.  Organize Public Domain Information

Organize public domain info into a website and sell advertising for income

Think of this as a phonebook for the internet age.

If you google ‘accountant Portland’ you’re going to get a map of Portland with some accountant locations on it. The next result will be a Yelp site. Then Angie’s List.

But none of these are very helpful when it comes to finding an accountant.

Find all the accountants for Portland and list them all on one page. Break them up into categories so it’s not one long list. Give a little bit of info about each one along with their phone number and address.

Then have Portland accountants buy ad space on your site about Portland accountants.

 

53.  Lead Capture for Real World

Even with a resource like the static guide, choosing an accountant can still be difficult.

Why not let accountants bid on people’s business?

Create a website with an email capture of people looking for an accountant. As a trade-off, they’ll get a short guide on how to choose an accountant. What to look for when deciding on one.

You take those email leads and sell them to accountants. Those emails are gold.

These are warm leads. People that are already looking for an accountant. That’s worth a lot of money.

 

54.  Make a Real World Service and Outsource the Work

Create a real world service and then outsource the work to earn passive residual income

The other day, my dad was going through old home movies of ours. Some of the tapes went to camcorders that don’t work anymore so there is no way to watch them.

Other videos were on VHS tapes and who has one of those lying around?

Make a real world service that takes those tapes and rips them into digital form. Only, you don’t do any of the work.

Use Freelancer to find someone with all the camera equipment and pay them to convert the tapes to digital. Put all the video on a USB drive and send it back.

Find a service in the real world that people need and then pay someone else a small fee to do it. You’re just the one in the middle handling logistics.

 

55.  Rent Out Expensive Equipment

Rent out expensive equipment to earn extra money

I was in Hawaii for my cousin’s wedding and got to talking to the photographer.

Somehow we got on the topic of their camera equipment and how they didn’t ship it over from the mainland.

It would have been too expensive.

Instead, they rented it from a camera shop right on the island.

Find equipment that people need sometimes but don’t want to buy. Then start renting it out.

Cameras are always good. So is video and audio equipment. Tools would be another great option.

 

56.  Become a Digital Publisher

If you like the idea of owning a blog but hate writing, digital publishing could be the way to go.

The Huffington Post, BuzzFeed, Inc.com, all these are digital publishers.

There are thousands of people looking to write guest posts on popular sites around a topic. Digital Publishers give them the opportunity.

They don’t hire many writers, but take submissions from other people and, in return, give them a little by-line with a link back to their website.

The writer gets some traffic to their site and the digital publisher gets free content.

The digital publisher also gets to sell advertising and put affiliate links on their site too.

 

57.  Build a Static Guide and Sell Ad Space

Like writing an ebook, but creating a static site with all the info people need to finish a goal.

Take starting a successful blog. There are hundreds of chapters you could write.

Chapters on setting up a domain, installing WordPress, template design, posting schedule, marketing, SEO, advertisings, etc, etc. etc….

Instead of making that into a blog or selling an ebook, make one static page with a table of contents at the top that links to the various sections.

Choose a topic that has a decent amount of search traffic and you’ll reach #1 on Google if the guide is awesome.

Then sell advertising space.

 

58.  Buy in Bulk from Overseas and Sell Online

Order products in bulk and sell them online for residual income

A company like Alibaba will set you up with a manufacturer in China.

If there’s a product you think is massively overpriced, use Alibaba to find someone manufacturing it in China and order it in bulk. I guarantee there is someone in China making whatever you’re looking for.

Have the products sent to Amazon so they handle all the shipping and handling when an order comes in.

Mark the price of your product lower than your competitor.

People might see you as the cheap knockoff, but who cares as long as you’re bringing in some residual income.

 

59.  Create a Deals Site for Your Niche

Negotiate sales for niche products and take a small cut to earn extra money

AppSumo does this for apps that entrepreneurs would find useful.

StackSocial does the same for online courses.

They find a product and negotiate a massive discount. That discount gets passed to the customer and they split the profits.

It works well for the creator of the product because the deal sites usually have massive followings. People that may or may not have heard of the product before.

Most of the time it’s digital products so there isn’t a concern with the cost of goods. It’s all digital so even though it’s a huge discount, all the money is profit.

Choose a niche you’re interested in. Say photography.

Find all the classes, ebooks, photo apps, and software. Start negotiating with them to sell their product at a deep discount.

Build a website or Shopify store and start selling.

After a while, you’ll start building a bigger mailing list and be able to take a larger part of each sale.

 

60.  Build a Niche Specific Jobs Board

Residual income idea that has you creating a niche job board

Sites like Monster, Indeed, LinkedIn are helpful in finding a job, but what if you’re looking for something more specific?

Business owners want to target qualified individuals interested in their industry.

Why not give them a place to post their jobs and people with the skills a place to look?

Niche specific job boards give both groups the opportunity to find the perfect match.

Say you’re into programming with Ruby. Create a specific job board for Ruby programmers.

Then have employers looking for people with Ruby skills pay you to list their openings on your site.

They’re willing to do it as long as they’re getting qualified candidates.

 

61.  Create an Extension for Chrome

Chrome extensions don’t get nearly the attention as Android or iPhone apps, but they should.

Right now I’ve got 19(!) extensions running on my Chrome browser.

There are millions of people using Chrome and are always looking for cool and helpful tools. Just like people are looking for them on their phone.

Come up with a great idea and hire someone on Freelancer to create it.

Sell it on the Chrome Web Store and watch the money come in.

 

62.  Repackage Content Into a Guide

If you’ve got a popular blog, this one is dead simple.

Take a dozen or so of your most popular posts around a topic, package them together and sell it as a guide.

The material is already written. To call it a guide, you just have to compile it into an order that makes sense.

Sell it on your site or through Amazon.

 

63.  Create a Niche Podcast

Book Riot is a niche podcast with interviews of authors. It's making money selling ads

If you hate writing and feel really uncomfortable about being on camera, starting a podcast may be for you.

Besides a mic and some simple editing software, there isn’t much to it.

Pick a topic you think you could talk about, week in and week out, and start recording.

Get friends to come on your show and talk about it with you.

Once you grow the audience, you can start selling advertising space like an over-the-air radio program.

 

64.  Buy Keyword Rich Domains

Resell keyword rich domains to people willing to pay a premium

Buying domains is a tough game to master but the payoffs can be HUGE. Like hitting the lottery type of money.

Noah Kagan of AppSumo and SumoMe fame just spent over $1 million dollars buying the domain sumo.com.

There is a bit of luck involved. Hoping that somebody comes along willing to spend that type of money to buy a domain. But it does happen.

 

65.  Sell Digital Creations

Sell digital creations online to earn passive residual income

If you’re creative and enjoy making digital products, start selling them online.

There are marketplaces for fonts, icons, website templates, graphics, and on and on.

You could do this on your own website, but I recommended going through a place like Creative Market.

Sure, they’ll take a cut, but it’s a marketplace with traffic and customers already built in.  Start there and then maybe branch out to your own site.

 

And there you have it,  65 residual income ideas.  Hopefully, there was something in there to help you get started making a little extra money to build your income snowball.

If that list seems daunting, sign-up for the mailing list and I’ll fill you in on 3 residual income ideas that you can start tomorrow.  They don’t cost anything and require little to no time at all.

 

 

Disclosure: All investments entail risks. There is no guarantee that investment strategies with RealtyShares will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for a long term especially during periods of a market downturn. No representation is being made that any account, product, or strategy will or is likely to achieve profits, losses, or results similar to those discussed, if any.

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Residual Income: The Ultimate Guide https://www.themoneysnowball.com/residual-income/ https://www.themoneysnowball.com/residual-income/#respond Wed, 01 Mar 2017 14:23:44 +0000 http://www.greensnowball.net/?p=78 Everything you’ve ever wanted to know about residual income. What is residual income? What are some income ideas? And what about passive residual income? Bonus Material:  Free Passive Income Quiz It’s everyone’s dream. To sit back and have money come in without having to lift so much as a finger.  To earn money from doing …

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Everything you’ve ever wanted to know about residual income. What is residual income? What are some income ideas? And what about passive residual income?

Bonus Material:  Free Passive Income Quiz

It’s everyone’s dream.

To sit back and have money come in without having to lift so much as a finger.  To earn money from doing something that you love.

Check your bank account one month and then see that it doubled the next month without having to step foot into an office.

That dream is residual income.

Everything you've ever wanted to know about Residual Income

What is Residual Income?

At it’s most basic level, residual income is the income earned after all the bills and expenses are paid.

For the average worker, this would be their disposable income. They’ve gotten their paycheck. Then paid the monthly expenses and have some money leftover to do what they want.

In the corporate world, the definition is a bit different. They look at the revenues left over after all the costs of capital to generate the revenue is paid.

Get passed all those fancy words and it’s still the same: the money that is left over after everything is paid for.

But the third definition, and what we all dream about, is more related to passive income.

Continuing to earn an income for work that was done long ago and there are no more bills or expenses left to pay. You could call this passive residual income.

Residual Income Formula

For corporate America, the formula looks like this:

Residual Income = net operating income – (cost of operating assets * cost of capital)

For personal finance, the formula looks like this:

Residual Income = Net Income – Expenses

Say you earn a check for $3,000. Taxes take a $500 chunk out of it so you’re left with a net income of $2,500.

That month, you’ve also got a mortgage payment for $1,000. Plugging that into the formula:

Residual Income = $2,500 – $1,000 = $1,500.

For the dream business, the goal is to get those expenses as close to zero as possible.

Passive Residual Income Formula

One thing the “expenses” didn’t take into account for the personal finance formula was our time. Our time is worth something and we shouldn’t discount it.

For a normal 9 to 5 job, that’s what we’re paid for. We’re trading time for money.

In the corporate finance formula, our time would be part of the “cost to operate asset.”

Corporate America considers time as part of the bills paid before they’re paid.

Combining the two, we get a formula for passive residual income that would look like this:

Residual Income = Net Income – (Time Working + Expenses)

By getting the “time working” down to zero and the expenses as low as possible, we’re left with:

Residual Income = Net Income

…and the money is coming in without lifting a finger.

The Residual Income Model

The ultimate residual income model means you’ve got to create something of value, up front, that people will continue to pay for.

Writers do this with books. They put in the hours, days, and even years, up front and then make money on the back end.

Same thing with musicians. They record a song and then are able to sell it the rest of their lives to make residual income.

Their “time working” after the initial investment has gone to zero.

The ultimate passive residual income model moves away from trading our time for money. It puts an emphasis on creating value for others.

Residual Income Examples

Name any musician or author and there is someone who is earning residual passive income. There is an argument about publishers taking a cut, and music labels taking their share, but both are great examples at their most basic level.

Richard Branson is a great example of building a residual income empire. The Virgin brand has grown to airlines, cell phones, record label…and on and on.

Mr. Branson doesn’t actually spend his day to day hours working on each of those businesses, but he still earns income from them. If the companies do well, he does well.

Warren Buffett is another shining example. He’s created Berkshire Hathaway that brings in income like Richard Branson, but Buffett also earns passive residual income from all his investments.

By sticking mostly to dividend paying stocks, Mr. Buffett allows his money to work for him. He buys a share of a stock that pays dividends, and each month or quarter, he gets paid.

The more stocks you buy, the larger that residual income becomes. To the point where Warren Buffett earns roughly $62 million dollars a year on dividend payments. That’s a massive income snowball.

Now those are two owners of massive companies, but what about the little guys?

Steve Scott is a prime passive residual income example.

Steve has built an ebook empire that brings in 5-figures per month from ebook sales.

He’s able to write them fast on topics that people are looking for. Then posts them to Amazon and let their millions of built in customers do the rest.

How to Earn Residual Income

If you were to make a little drawing about how a painting sold, it would look something like this:

The normal process of earning residual income

The cycle would keep going round and round. To earn more money, you’d need to keep creating more paintings.

To start earning passive residual income, you need to find a product that can be replicated. One that doesn’t have to be built every time.

The internet has made earning residual passive income so much easier.

Digital products are the easiest form of earnings. There is no inventory to take care of. No manufacturing that needs to take place.

Design some software, write an ebook, or create a product that people are looking for. Then give people the ability to download it while you get paid to sleep.

This way, the product only needs to be built once. After the first cycle, we remove the “make painting” and are going back and forth between “sell painting” and “earn money.”

In the example of an ebook, the first cycle would look like this:

residual-income-cycle2

But after the first cycle, “write ebook” is removed. You only have to do it once and then the cycle becomes:

passive-income-cycle

Earning residual income doesn’t need to be all passive, though.

There are lots of ways to earn money.

You can earn it by shopping through a portal like Ebates.

Credit card rewards points are another example. With each dollar spent, you earn a point that can build to a level where you can buy products, or even take a trip.

This isn’t ideal for building an income snowball, but this is the “ultimate guide to residual income” so we’ve got to cover all our bases.

Speaking of examples, let’s look at a few.

Residual Income Ideas and Opportunities

Write an Ebook

Write an ebook to earn extra money

We’ve covered this one a bit already.

If you’ve got some knowledge that you find yourself teaching friends and family about, it’s time to write an ebook.

Whatever you’re teaching is already in demand, which means there are other people out there who want to know too.

Sit down and write an ebook. It doesn’t have to be long.

Put it on Amazon and tell all your friends and family about it. Get a few reviews from them and you’re off to the races.

Steve Scott runs a site called Authority.pub geared towards helping people sell books.

Start a Blog

This has become a very common one to build residual income.

Kind of like writing an ebook, but the effort is put in over a longer period of time.

Again, you’ve got knowledge that people want to know, so you create a blog to start teaching people.

If you’re consistent and write in-depth, helpful articles that people find useful, you’ll build a following.

More and more people will come to your site and see you as an authority.

To earn money from a blog, you’ve got all sorts of avenues.

You can start affiliate marketing products that you’ve found useful. Affiliate marketing is where you earn part of a sale that was made based on your recommendation.

Advertising is another way to earn residual income from your blog. Put AdSense ads on your site and get paid based on the number of clicks or views the ad receives.

Having a popular blog makes selling an ebook or app a lot easier too. You’ve already got a large group of people who are potential customers and will buy your products.

Pinch of Yum is a cooking blog that has been CRUSHING it with residual income.

Invest in Dividend Stocks

Earning a check from dividend investing

This is a favorite of mine and Warren Buffett.

If you’ve already got a job you like, or are earning income another way, you can invest in dividend stocks to earn residual income.

Certain stocks will pay out money, or dividends, on a monthly or quarterly basis. They do this as a way to repay investors.

For corporate stocks, they do this as a way to repay investors from profits earned instead of putting their money back into the company.

Those dividends are then yours to do with as you like. You can spend the money or turn around and reinvest them, which I highly recommend.

Investing in dividend stocks is a major part of building an income snowball.

The more money you’re able to invest in dividend paying stocks, the bigger your snowball will get and the more residual income you’ll earn.

It’s a beautiful cycle.

Start an Online Course

Build an online course and start teaching people

This one is like an ebook or blog.

You’ve got knowledge that other people are willing to pay for.

Instead of teaching them face to face, or having them read a book, create an online course.

There are a lot of platforms that make the process simple.

Courseminded is an online course…about creating an online course.

Once the course is created, usually with bundled audio, video, and some written information, you post it online and earn residual income from each sale.

Create a Review Site

residual-income-review-blog

Because of the internet, the research people put in before making a purchase is incredible.

Before the internet, if you wanted to buy a TV, the only person you could talk to with any knowledge was the salesman. Now there are thousands of websites that can help you out.

If you’ve got a passion for fish tanks…start a fish tank review website.

Start the website and then write in-depth reviews of products that will help people make informed decisions.

Like a blog, you’ll get people who are searching for fish tank reviews. Then earn residual income from affiliate fish tank sales or posting ads.

TopTenReview is pretty generic, but if you niche it down, you could dominate a topic pretty easily.

Build an eCommerce Store and Dropship

eCommerce is one of the residual income ideas with a huge upside

Dropshipping is the easiest way to sell a physical product.

You’ll find a distributor that is willing to send the product from their warehouse to your customer.

This means you don’t have to order inventory, have a warehouse, or storing anything. You don’t even need to worry about dropping things off at the post office.

Find a product (or category of products) you want to sell and then look for a distributor that can dropship them.

Then, head over to Shopify and set up a storefront.

When people buy a product, you can set up Shopify to automatically notify your distributor and they’ll send it to your customer.

Andrew Youderian of eCommercefuel did this to the tune of $1M a year in revenue selling CB radios and trolling boat motors.

Create an FBA Store and Resell Things

Stuff Parents Like has a free FBA course to teach you how to earn residual income

FBA stands for Fulfilled by Amazon.

Like dropshipping, you can buy products and ship them to Amazon. They’ll house them in one of their warehouses and take care of the rest when your product is purchased.

If you want to carry inventory, you can order products in bulk from a distributor. Then send the products to Amazon and set up your storefront on their site.

The bonus of having your store on Amazon is that there is already a built-in user base.

Millions of people are already searching and shopping. No need to try to convince them your website is a safe place to buy. They’ve already ordered from Amazon and don’t have any problems with doing it again.

Or, you can find great deals at local stores, buy a bunch of products and do the same thing.

Travis Scott of StuffParentsLike used a toy store liquidation to buy up a bunch of product. He turned around and sold them via Amazon and made ~$3,000 a month.

It takes a bit more work than other businesses but the residual income is very nice. Plus, it becomes a bit of a hobby hunting down great deals.

Build Software

The Foundation teaches you to build software for residual income

Building software requires quite a bit more time and effort to get up and running, but the passive residual income returns are HUGE.

Once the software, or app, is built you charge a high margin and don’t have the cost of products or shipping to worry about.

Dane Maxwell of The Foundation has figured out a process to come up with software ideas. He even gets other people to pay for the development.

In essence, you’ll talk with other business owners to figure out a major problem their having.

If you find enough of them with the same problem and can come up with an idea that would save them both time and money, you’ve got yourself a viable product.

You can even get those business owners to make an early purchase at a discount.   Take those early purchases and use the money to fund the development of your app.

If you don’t have any development experience, go to a place like Freelancer and hire someone to do the programming.

It seems daunting, but the returns are amazing.

Buy Rental Property

Realtyshares.com gets you residual income without the risk

It’s kind of like investing in dividend stocks.

If you buy a rental property, you’ve got residual income coming in like clockwork from rental payments.

There is definitely some skill to picking prime locations to ensure that your units never stay empty for long.

Charge enough rent to cover the mortgage and find someone else to manage the property. Then this becomes an excellent choice to earn passive residual income.

Plus, you’ve got all the equity in the property that you get back when you sell. All of which has been paid for by renters.

Not all of us has enough money saved up to buy a rental property, though.

Here is where RealtyShares comes in.

You get the benefit of owning a rental property without having to come up with a large sum of money for a down payment. And you don’t have to worry about someone running the property for you.

Like rent or a dividend investment, you invest in property and then earn residual income payments.

You’ll make money from owning a rental property (along with hundreds of other people) and not take on all the risk.

Start a YouTube Channel

Create a popular YouTube channel and earn residual income from ads

Starting a YouTube Channel is like building a blog.

It takes quite a bit of effort to build up an audience, but once you do, the residual income from advertising shows up every month.

Your YouTube channel could be about anything. Search a topic and you’re bound to find someone who is reviewing a product, talking about it, or just making funny videos.

The opportunities are endless as long as you’re willing to put yourself in front of a camera.

There is a little box that you’ll click on the dashboard that allows advertising on your videos and YouTube takes care of the rest.

Looking for more ideas?  Check out the massive list post I pulled together with tons of ideas on how to earn residual income.

Conclusion

Whether it’s passive residual income or plain residual income, the rewards are massive.

If you take that residual income and invest it, you’ve started an income snowball that will grow fast. The faster it grows and the more residual income you earn, the sooner you’ll achieve financial freedom.

Disclosure: All investments entail risks. There is no guarantee that investment strategies with RealtyShares will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for a long-term especially during periods of a market downturn. No representation is being made that any account, product, or strategy will or is likely to achieve profits, losses, or results similar to those discussed, if any.

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