HOW TO MAKE $2,500 PER MONTH IN PASSIVE INCOME WORKING FROM HOME
WORKING FROM HOME
It’s now easier than ever to earn money working from home thanks to the internet. Our coal mining ancestors would smack us in the face if we told them we could easily earn $2,500 a month using an iPad on our couch.
I spent 18 years waking up at 4AM, taking a train to the city, and working for someone else. Once I started making thousands a month from my website I decided to quit the early morning job. No more waking up at 4AM. I have many different sources of revenue coming in from my website but there are a few areas that I would consider low hanging fruit and I detail them below.
I want to be clear these are not get rich quick schemes. These are the same proven methods I’ve used to make over 1.8 million dollars last year. Furthermore, they will take a little bit of time to implement but nothing worth doing is easy in this life. Lay some groundwork now so the passive income can flow in later.
Nothing good in my life has ever happened from the safety of my comfort zone – Richard Branson
HOW TO MAKE MONEY FROM HOME
Check out these clever ways that you can earn money working from home. Implement a few of these ideas or just try out one to get the ball rolling!
1. START A WEBSITE
I started my website a few short years ago, and since then, I’ve been able to make well over 1 million dollars per year as I comfortably earn money working from home, thanks to the internet. For under $5 a month in hosting costs, I bring in tens of thousands of dollars a month. Would you trade $5 for that? It’s truly and awesome way to earn money working from home.
I’ve detailed exactly how I built my blog in this step-by-step post that can help you get started. Click here to check it out.
THERE ARE A NUMBER OF REASONS TO START A WEBSITE:
You own it and no one can tell you what to do. Tomorrow Facebook could shut down my Page and that’s the end of it. It happens all the time.
It’s not just one revenue source. Your website is your storefront where you can sell physical goods and all manner of digital goods and services. The sky is the limit. For instance, I know a successful Tarot card reader who is amazing by the way. On her website, she teaches people how to understand the cards but she also has an online course and sells her own card decks and books. The traffic to her website would blow your mind. Without her website she could sell her cards through Amazon or another source but it’s not the same.
Build an email list – In my Tarot example, she can also capture people’s email addresses when they visit her site which allows her to provide additional direct value to her readers. That’s not something she could do on Amazon. Amazon gets that data not her. Read my post to see all the ways I make money with my website and I show you how to get started too.
Affiliates – With your own website you can promote the goods and services you create but you can also share materials from affiliates that will earn you big bucks. For example, I know some bloggers that don’t have any of their own products and yet they make $50,000 a month just promoting other people’s products.
2. BECOME A VIRTUAL ASSISTANT
A few years ago I read Tim Ferris’s _The Four Hour Work Week_ and was blown away by the idea that I could hire someone over the internet to build a graphic for me or tweak something important on my website. Flash forward to the present and I have over 15 virtual assistants working for me. They each have a totally different set of skills.
You can join a virtual assistance community like Upwork or Word Agents and market your talents. Think of your skill set. Could you do it remotely from the comfort of your home? If you could earn money working from home, think of the possibilities this will open up in regards to your earning potential and making your own schedule!
LET ME GIVE YOU A FEW EXAMPLES OF VA’S THAT I’VE HIRED OVER THE YEARS:
- Email marketing experts
- Graphic designers
- Podcast editors for my Investing in Real Estate podcast
- Video editors for my YouTube channel
- Data entry
- Web designers
- Customer service
- Social media marketers
- Personal coach
- Proofreader for my Amazon best selling book.
- Formatter for my book
That’s just scratching the surface. I pay some of my virtual assistants a few thousand dollars a week, and they all work from home. One of them works on a farm and spends her mornings taking care of her horses and her afternoons working remotely for me. You can be sure that she is enjoying making money from home, and not being stuck in an office all day.
I know there’s something you’re good at doing that you can likely do remotely. Even if you can’t think of anything you can start taking an online course to learn a new skill so that you can start marketing yourself.
For example, become a bookkeeper to make money from home. We have an excellent bookkeeper and she works from home. She started out with a few clients and now she’s been able to hire additional bookkeepers for her own virtual bookkeeping company. How’s that for being meta… she’s virtual with her own virtual assistants!
You can take the Bookkeeper Business Academy course to learn and grow your own bookkeeping company from home. Click here to learn how to make money at home by becoming a bookkeeper.
3. WRITE AN EBOOK TO MAKE MONEY ONLINE
I always heard that writing Kindle books was a great way to make a few thousand a month but I never took the plunge. That was until 2017 when I finally bit the bullet and wrote my own eBook called _How to Pay Off Your Mortgage in 5 Years_. It became a big hit and almost immediately started bringing in a few thousand dollars a month in sales. In addition to this, last month I sold over $30,000 worth of books in one month. So now you could say I’m a believer. This is one of those amazing products that if you do it correctly can bring you consistent passive income each month.
It also has the power to compound. Here’s what I mean. With one book you might generate $2,500 a month. Then you release a second book and that brings in an additional $2,500 a month. Now you’re sitting on $5,000 a month in passive income. I know authors that write a book every 5-6 months!
The great thing about writing eBooks is that they don’t have to be 300 pages. My book is about 80 pages and I cut right to the chase. Most importantly, you have to realize that the eBook audience is different than the book store audience.
IF YOU CAN SOLVE A PROBLEM YOU CAN SELL A BOOK
My book teaches people how to pay down their biggest debt, their mortgage. I also teach them to do it in under 5 years, and I don’t waste 100 pages giving them anecdotes, I get right to it and solve their problem.
You might be thinking geez I don’t know anything that can help people. That’s probably a lie. Let me give you an example.
I was telling my mom that she could be bringing in over $2,000 a month if she wrote an ebook. She said she wouldn’t know what to write about. My mom is the CEO of a small non-profit company, it’s not very glamorous and on the surface that might not seem like a good place to start. But let’s drill deeper. I asked her to think about the skills she uses in that job. She said that she spends hours crafting grant proposals because her company has to rely on government grants to operate. Bingo!
Writing grants is hard work and there’s a science behind it. I explained that she could write an 80 page eBook helps people do it. I bet she could think of a few more things she could teach people.
There are a few hoops and hurdles you have to jump through to write an ebook but it’s not hard. I’ve also built an inexpensive video course that will walk you through step by step how to come up with a topic, write your ebook in a few short weeks, and promote your book using Amazon’s awesome ads platform.
4. EARN MONEY FROM HOME WHITE TEACHING ENGLISH OR ANOTHER LANGUAGE
My wife and I fell in love with Portugal. So much so that we decided to pack up and move our family there for a while. We decided to study Portuguese before we embarked on this journey. We also signed up for a twice weekly language class over the internet. Our teacher lived in Louisiana spoke perfect Portuguese and taught us over the internet. We spent a lot of money to take this course and the teacher was paid nicely for her time and attention.
If you don’t know a foreign language why not use your native tongue? That’s right. You can teach English on the internet and create your own schedule and make $18-21 per hour.
VIPKID is a company that lets you work from home and teach English to children. They need teachers! You can apply to teach through VIPKID here.
These are just a few of the ways you can make money from home. I chose ideas that you can build a life around. In conclusion, a website and ebook strategy could really change your life if you put some time into them.
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