Updated: Jun 2
If you are searching for How To Earn Passive Income Online as a Complete Beginner, I have to tell you that I hate the term "Passive Income", and here's why.
Passive income by definition is an income that requires little to no effort at all to earn and maintain. That is why I don't like the term.
I went to other websites to see what they actually were mentioning as passive income, and I was astonished by the results.
Places like The College Investor recommend things like car washing, network marketing, designing t-shirts, etc. Car washing? Are you kidding me? You can check out the article here.
I believe it is possible to earn money while you are not doing too much work, but I just believe this can only happen if you are putting all your work upfront.
Today, I will show you my 2 most favorite ways of how you can start earning passive income online...
Affiliate marketing and Cash Cow YouTube Channels.
I truly believe affiliate marketing is by far one of the best ways of how you can start to earn passive income online as a beginner. Affiliate marketing basically means promoting somebody else's product and getting a commission out of it.
Now, there are a lot of ways to promote products. That includes dealing with ads, funnels, email marketing, and all kinds of stuff. My favorite part is when you mix affiliate marketing and YouTube because the options are endless.
Let's say you are looking to promote the Beats Solo3 Wireless.
As you might know, Beats is already a well-recognized brand. By sharing your experience in YouTube with a video you are able to promote them and earn a commission out of it.
The good thing about YouTube is that content never dies, unlike Instagram or Facebook. A video from years ago might become popular today, while if a post is not viral within the first days, it dies.
YouTube is also great for how-to videos, testing, comparisons, etc.
Here is an example of how I promote a web hosting service on YouTube:
Since every person that needs to create a WordPress website has to have a web hosting service, I show them exactly how they can create their own WordPress website step by step by using a web hosting service called Siteground.
While this is not telling them "go buy Siteground", I am telling them that Siteground is my most favorite web hosting provider.
After Siteground gave me a unique link (to track my commissions), I showed viewers how after following the video, they could check out my website for discounts offered by me.
These are all affiliate links, and when they purchase using my links, I get...
Now, I know 4 commissions ($200) in a month are not a big deal, but if you think about it... I did that video, posted it, and never touched it again. That is a true way of earning passive income online.
Even though the video was posted like 2 years ago, I did the work upfront, and it still brings me traffic, which is super interested in buying by the way.
As you can see, in August I got 3 unique clicks (3 people) and 2 sales. That is a conversion rate of over 66%!! You will not get somewhere close to that with other business models.
If you are able to put your product as a solution to their pain, commissions will be easy.
How to Apply to Affiliate Programs?
You might be wondering... How in the world do these big companies let other people promote their products?
Simple: they love that you bring free traffic to them.
Amazon has a big affiliate program that will allow you to promote any product they sell. It is one of the best places for beginners.
If you are looking to promote any product just Google "*brand name* affiliate program apply".
Some of these brands might not have an affiliate program, so make sure that the brand you want to promote has an affiliate program before actually promoting it.
The only thing is that you will need to have a website for some of these programs in order to get approved (just like Amazon).
So... Why not building your website with my affiliate link? I mean you never know... My video might be reaaaaally good ;)
Jokes aside, I think my video is good. If you would like to start your new website to place all of your affiliate links and get approved to some of these programs, click here to watch my video to build a website under 6 minutes! You will get a special discount, and I will get a commission. It is a win-win situation.
YouTube Cash Cow Channels
As you can see, I love YouTube. I feel like if you are searching how to earn passive income online, YouTube is the best platform for you.
YouTube Cash Cow Channels are channels (duh) that generate thousands if not millions of views per day with topics like top 10's, gaming, how to's, and all kinds of stuff.
These channels live forever because they talk about evergreen content, contrary to the type of content that focuses on what is trending.
Since YouTube Cash Cow Channels focus on getting as most views as possible, they earn money through Google Adsense, which pays them every thousand views, or when people click on the ads during the video.
These are the type of results you are able to get with these types of channels:
(Images Via: @devoncnp)
YouTube Cash Cow Channels are so scalable because after earning a little bit, you are able to hire a scriptwriter, voice-over person, a video editor, and even somebody to do thumbnails for you.
That is how some of these guys who own these channels have up to 20 channels! Because they are able to outsource all the work.
That means that after putting a lot of the work upfront, you will be able to earn money while you are not doing anything related to the channel.
How to Start from Scratch?
I am currently starting my own Cash Cow YouTube channel. It has been a month since I started it, and I will be showing all the things I have done so far in this post.
I know you might not want to read another long post, so here is a summary of what I did to get started:
2) Posted a voice-over job in Upwork for $20 (but you could get one for less than that).
3) Posted a video edition job in Upwork for $30 (if you don't get enough applicants, increase the rate).
4) I found someone to do my thumbnails on Fiverr for just $5.
But I actually like and enjoy doing video edition and thumbnails, so if you are like me, I will recommend you to:
Start Camtasia's FREE trial. My recommended video editor software and the one I personally use.
Create an Adobe Spark account to do your thumbnails. By far the best tool to do them, and I even create my own now because I loved how easy it is to use (since I am not a graphic designer).
Or you know, if you like to speak, you can always buy a microphone on Amazon and do the voice-over yourself. And if you like to do scripts, you can do them too. That is the awesome thing about this method... You are able to do the things you like only!
FREE Training For You
If you are looking at how to earn passive income online using Cash Cow YouTube Channels, I will recommend you go watch this FREE training.
In this training Caleb Maddix, one of the youngest and most successful entrepreneurs in the world will be showing how Devon Canup (owner of the results shown in the screenshots), is able to achieve these results.
The amazing thing is that using the method shown in the training, you will be able to make your affiliate reviews from the last section viral.
I have another post where I go over what Cash Cow YouTube Channels are in a more in-depth way. If you would like to check it out, click here.
I know I didn't mention too many ways of how to earn passive income, but it is just because I don't think that many of the things mentioned on other big websites are right...
I don't think there are many ways of earning truly passive income online, but these two are some I believe 100% in.
Thanks for reading and if you have any question at all, feel free to drop your comments below :)