๐ Passive income is money that is not directly tied to our time, such as book royalties.
๐ฐ There are nine different ways to make passive income by providing value, such as investing in stocks and shares.
๐ซ Get-rich-quick schemes do not work, and the only way to make money is by providing value over time.
๐ Investing in stocks and shares can generate passive income, with potential earnings of $100 per month depending on market performance.
๐ฐ To make $100 per month passively through stocks and shares, an average investment of $12,000 in the S&P 500 is needed.
๐ฅ Starting a YouTube channel is an easy way to generate passive income, requiring minimal effort to maintain once set up.
๐ฐ Making money from YouTube requires at least 1,000 subscribers and 4,000 hours of watch time.
๐ฅ It takes time and effort to make compelling YouTube videos and grow your channel.
๐๏ธ Starting a podcast is easier than starting a YouTube channel, but growing a podcast is more challenging.
๐ฐ Making money from a podcast requires sponsorships or brand deals, with an average of $18 for a 30-second ad and $25 per thousand views for a 60-second ad.
๐ง Getting a thousand podcast downloads per month is harder than getting a thousand YouTube views, but it's possible with a consistent audience and strategic promotion.
๐ Affiliate marketing can be a lucrative passive income stream, with 48% of affiliate marketers globally earning $1,660 per month.
๐ฐ Earning passive income through affiliate marketing requires a significant amount of upfront effort in building an audience or domain authority.
๐ฅ Skillshare offers an affiliate program where you can earn commission by referring people to sign up for a free trial. Having an audience or your own classes on Skillshare makes it easier to generate affiliate income.
๐ป Creating and selling digital products, such as ebooks or apps, can be a profitable way to earn passive income. However, it requires providing enough value and competing in a saturated market.
๐ฐ Making passive income requires solving a pain point and charging for the solution.
๐ฅ Creating online courses can be a profitable source of passive income, but the quality of the course is crucial.
๐ฉโ๐ซ Using platforms like Skillshare can help you teach and earn income without directly charging for your courses.
Creating and selling online courses on platforms like Skillshare is a profitable way to generate passive income.
Building a paid membership or community model can also be a source of passive income, but it requires an existing audience and providing consistent value.
Once established, maintaining the income generated from online courses and membership communities becomes easier.
๐ฐ Generating passive income through membership communities or online academies requires significant effort and engagement, but can yield a substantial weekly income.
๐๏ธ Creating a business that sells goods or services and automating or delegating aspects of it can lead to reasonably passive income.
๐ป Building an app, website, or software product and offering it as a subscription service can generate passive income, but requires coding skills and marketing to attract paying customers.
๐ก The video provides nine passive income ideas.
๐ฅ The video also offers a playlist of related videos on entrepreneurship.
โจ The narrator mentions the importance of learning to code.
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