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7 Different Income Streams | Different Passive Income Streams
In this article, I am going to share with you the 7 different income streams that I was able to build by the time I was 24 years old. This is not the typical approach for someone in their young 20s. So I want to explain to you how I was able to do it and really the reasoning behind it. Why did I really decide to do it?
Where all this started
So where this all started was about the time I was 20 years old is when I got my first real job. I worked for a Chartered accountant that was many years into the business and I worked for them for four years until I was 21. And I used to get 75$ per month salary there. I know it was very low but due to family conditions, I have to work there. Now when I was 21, I was kind of relying on this income so I was doing pretty well.
But all of a sudden, He fired me without any reason. So out of nowhere just literally waking up the next day I found out that morning that I no longer had a job. This hit me like a ton of bricks because this was the income I was relying on.
Nightmare for me
I didn’t have any experience otherwise telling me that you can just be fired from your job just like that with no explanation. I thought you would get notice I thought I would be able to plan something in advance. So I had no job at this point this was when I had to go out and find another job. I did find another job and this was about the time I was 22 years old and I didn’t want this to happen again. It took one whole year to get another job.
Starting of my new life
So I started to kind of proactively look at what were other ways that you can make money online. How do you safeguard this? How do you diversify what do you do? So you don’t just get fired and then have no job for a long one year and no income.
So while I was working at this job along with that, I started to look into different ways to make money. At that time I didn’t have money to invest so I couldn’t buy real estate I couldn’t invest in the stock market I didn’t have money to invest upfront.
So I had to find ways that I could just use my skills or just use labor something. Where I could put in time and then get money from that long term. Long story, in short, is this is where that transition started from me working a single job too diversifying and starting getting income streams online.
So with that said I only worked at that job for a year and then when I was 23 and now 24 is when I’ve been working on 7 Different Income Streams. And now I’m completely financially independent. The funny part is that making at least five times more than I ever did on salary. So I’m glad that I made this transition and I’m just making these videos to try to help you guys to go through this same transition.
Now before I get into these 7 Different Income Streams, here I really just want to give one quick piece of advice and that is if you are working at a job and you’re about to go through this transition. Don’t jump ship too early you have to at least build a raft what I mean by that is suppose you’re on a ship right now.
You have that income coming in something you can rely on. If you just jump overboard you just quit your job and you just decide I’m going to just figure out how to do this you have no income. You have nothing to go off. You’re just going to drown.
Is it okay or not??
So what you need to do is to build at least a raft. Start doing some of the things that I’m going to explain in this article until you have some kind of income you can rely on. Even if it’s not the full amount that you’re making at your job. You will have a raft you have something that you can float on for a while you keep building it up. And then you will have another ship that you can rely on that income.
Start doing these things after hours once you get off your job until you have something. You can transition nicely. Alright, hopefully, you guys have some context on this now. Now let’s get into these 7 Different Income Streams that I was able to create.
So the first one is what I recommend for anyone getting started I’ve talked about this before but that is Teespring. Teespring is a print-on-demand platform where you basically just create designs. You don’t need any paid software for this you can do it completely for free. There are some apps that will help you do the designing.
No Artistic Work Needed;
So you don’t have to be an artist or a creative but you’re just creating catchy trendy things to put on T-shirts or mugs or different articles of clothing. Then you upload it to spring and it creates a virtual listing and then people can come and buy it they pay for the whole thing. Teespring prints it and ships it takes care of customer service and just put the profit right into your account. You can payout.
This is great for anyone because there’s no startup cost. It’s literally just you finding ideas on the Internet creating them and uploading them to Teespring. You can spend just an hour after work every day and you’ll be able to create five or six maybe 10 designs every day upload them to Teespring.
And then you start compounding this you do this for a while and then you’re going to have 102 hundred 300 different designs on Teespring while you’re still working your full-time job. You won’t have to worry about this but it’ll be making money in the background.
So when you go home you can check your account see how much money you made on Teespring. This is a good way to start building up that raft. So once I found out that you could do this on Teespring. I started to look a bit further where else could I do this print-on-demand style. And this led me into my second passive income stream.
2. Merch by Amazon:
Amazon is in everything; well they’re also in print on demand very similar to Teespring. Amazon has a program called Merch by Amazon. What’s amazing about this is it’s non-exclusiveness. Now the same designs that you upload to Teespring. You can take those designs and upload them to Merch by Amazon.
Now you’re just going to get free traffic from people searching on Amazon that are going to be buying those designs as well maybe those people don’t know about Teespring. So they didn’t see it on Teespring. But they did see it on Amazon. So double the money. And again this is completely free to start. You can just keep scaling with this and adding more and more designs.
So at this point, I had two passive income streams and this is so easy for you to start as well so this leads right into the third passive income stream and similarly to Teespring and Merch by Amazon.
There’s actually another one called RedBubble. RedBubble is another reputable print on Demand Company. And again it is non-exclusive. So you can upload those same designs from Teespring & Merch by Amazon onto RedBubble. Now all of a sudden you and I both have three passive income streams.
And they’re all making money with the same designs. So you guys can make this just as easy as I did. But that’s an excellent way to go from working your job to having three passive income streams. Just like that, you have 3 passive income streams that you just built.
You don’t have to worry about it. After you’ve uploaded the designs now granted there are more things that you can do in regards to marketing to sell more on print on demand.
Marketing Your Products
1. Social Media
You can market those using social media. But you don’t have to do those when you’re working your full-time job just add these things and just upload the designs. Wait and let them do the marketing for you. So there’s your first three and with these first three.
I started with so once I had put some work into this and was actually making decent money on print on demand on these three sites. It was pretty life-changing for me as a 23-year-old. You weren’t really supposed to be making this much money and not doing anything because it was so passive.
2. Google Products
So at this point, I wanted to teach other people what I had done. So I started at My Blogs and YouTube Channel and I wanted to get together groups of people online and teach them what I was doing on Teespring for those that were interested. They could come to kind of a meeting and I would show them what I was doing and obviously for free.
Just to share this information with people and see how they would receive it. Then I started teaching courses on Udemy. So Udemy is a course platform where you can put together a course and they sell pretty cheaply. And it’s an easy way for people to purchase kind of a package course that goes through a lot of things in detail. So I put together the very first Teespring course.
And it turned out to be about 7 hours of recorded content on starting from just your idea to start on Teespring to where I was at on Teespring. Again I am improving my content from the courses and make it a lot easier for students. You can join me in Udemy and start your money-making with me.
4. Social Media Teaching:
By default, this turned into being my 4th passive income stream online. And that was teaching courses on Udemy, YouTube and Blogs. Once I put together that first one on Teespring, it really drove me because people were receiving it well and it was very helpful just explaining it in detail step-by-step turned out to be a very effective way to do it.
And what worked for me was that I could teach this one time do it in extreme detail and do it very well and then anyone purchasing it from that point forward would get that presentation. So there were no on days or off days.
It wasn’t like I was teaching it in person where I was sick that day and couldn’t present as well as the day before or forgot to mention something. It’s all prerecorded and perfect for every student going forward.
So once all four of these were kind of established and running by them, I moved into finding additional ways to build income streams. So I get revenue from my site, Instagram reels, and YouTube Channel by just giving knowledge. There are different ways to make money by teaching. Some of them are;
- Selling Virtual products
- Giving Ebooks
- Affiliate Marketing
5. Affiliate Marketing
Now the next one for me was an affiliate marketing website. So I decided to try this out for myself and I made a few niche affiliate marketing websites to see what works and what doesn’t work. Try all these strategies and see what gets results.
Today I have one that I focus on. It’s in a specific niche and the way that it works is it’s about a niche. So when someone searching for something related to an itch on Google my site comes up. And if you do this properly your site will come up with the specific questions that they’re typing in.
Now they’re on your website and they can get an answer for what they’re searching on Google through Your website and then in that post you’re answering their question. You can put in links to affiliate products something that’s relevant to the question they were asking. Something that you’ve tried you actually trust and recommend.
You can put an affiliate link through that article. So when someone goes on they’re reading the article and they’re like oh that product is perfect for what I’m looking for. They can click that they go over to Amazon or wherever you’re referring that product through an affiliate network and they can purchase it.
And then the website they bought it from gives you a Commission for sending that traffic and getting that sale. You’re going to get the bulk of your traffic through Google searches. They come right onto your website without you doing anything read the article get their answer and if they like the product they click on it and they go purchase it.
And Boom you get a Commission that’s affiliate marketing in a nutshell and just be sure you do this on a specific niche. “If you do it too general it’s not going to work now in the creating of this niche affiliate marketing site”. I wanted to try a few of my own things to see if it would actually work.
So what I tried doing was making YouTube videos instead of blog articles on the site and to see if that would work for putting an affiliate offer down in the description. So where this started was actually doing review videos of different Fiverr courses that I had taken I’ve taken a lot of Fiverr courses. I’ve done a lot of reviews of Different Hostings.
I’ve tried a lot of things that some people are going to go in and do not know which one to choose. So I would do a review of that product or that course and then put my affiliate link to that or to that Fiverr gig in the description. So people could watch the YouTube video get a real-time video review of that course and then if they like it they can click the link in the description. If it goes right to the course cost them nothing extra but I get a dollar or $2 from you to me or from Fiverr.
6. YouTube Marketing Review:
So that turned out to be the six income streams completely separate of the niche affiliate marketing website. But using the same concept of affiliate marketing over on YouTube and what’s cool about YouTube to be it’s a search engine. So people are typing in the same thing they’re typing in questions that they would be typing in on Google and finding answers in video format. That’s the only difference. What is kind of cool too is Google and YouTube. They’re owned together so some of your results on YouTube filter over to Google.
7. Hosting Referral programs:
I love this one and I wanted to tie it up with this this was the last one I kind of found out about but that is the Hosting referral program. Now hear me out on this one. Because a lot of people reject it before I even get to explain what it is. But Hosting is a recurring-based income. What does that mean? Suppose you refer your Hosting plan to some of your friends, Audience, and other people.
If they purchase from your Hosting Affiliate link, you will get money on monthly basis. Because Most of the Hosting companies charge on monthly basis from their users, if they buy Hosting then they have to buy hosting on monthly basis.
Because Hosting is used to make your website, apps, landing pages, and sales funnel. In every prospect, if someone starts using hosting they can’t back out if they stop purchasing hosting then they must turn off their own business. So whenever they buy you will get a huge commission up to 60% per sale.
I know this is the best affiliate commission program of all.
Now the main question is how you can share your affiliate link. Through Social Media, YouTube, Google Searches, Apps, Websites, and Blog Reviews. One thing you must remember before you share your link you must have your own hosting and own website. If you don’t know how to make a website then you can follow my video. No coding knowledge is required to make this website. Link in Below.
And a couple of parting notes pieces of advice that I’ve learned from are:
Build as many of these income streams as you can seven is a good number to aim for. They say that’s actually the average amount of income streams that a millionaire has. But seven is just a good number regardless and the reason I say this is because when you’re working at a nine to five job and that’s your only source of income. It’s not actually as safe as we think. It is as I experienced you can be fired just like that you go to sleep you wake up the next morning. You no longer have a job and this is common. So go for 7 Different Income Streams.
Nightmare can come anytime
I know someone who worked for twelve years at a company and was just fired from their position. At the end of the day you’re working for a business and they make business decisions. A company is not in the business of keeping your salary just going up and making you more and more money. They’re in the business of making money and that can often be at the expense of their employees.
When you have something like 7 Different Income Streams if one of them goes out you have another six and it buys. You can create as many of these 7 Different Income Streams as you want and build them up as big combined driving income streams. There’s just one of you do so much in.
You’re only going to get paid hourly or whatever it is when you have online income streams. You can scale that when you now have 105 hundred 1000 different print-on-demand designs on each Teespring or RedBubble. Now you’re in scale it’s not just you going in trying to sell one T-shirt to someone at work.
And one thing to remember if you want to build your online business you must have your own site. Make your own very first website and start hosting an affiliate program. That led to 7 Different Income Streams for you.
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