How I made over $5,000 of passive income online, in one month
Today, I thought I would do something a little different and share with you how I was able to generate over $5,000 of revenue in the month of June 2021.
Now initially I was quite hesitant to share this with you, because I honestly don't want to come off as braggy, but the reason I decided to was that I want you to use this as inspiration and motivation to start your own online business and make passive income just like I have.
If I can do it, I believe anyone can do it... that is the honest truth.
Okay, so before we get into the nitty-gritty details of the breakdown of my passive income, I just want to let you know how I make money in my business.
So currently, I have 4 sources of income, which I consider passive.
The first should come as no surprise, yep, you guessed it it's sales from my Etsy shop(s).
The second might come as a surprise, but it's actually revenue from Google Ads, which are shown on my YouTube channel.
The third income source is from sales made from my online course, The Passive Income with Canva course.
And the last source of income (but certainly not the least) is from Affiliate Marketing.
Now if you're unfamiliar with what affiliate marketing is, essentially it is a commission that's earned when recommending other peoples products or programs.
I'll go ahead and explain this in a bit more detail shortly.
Passive Income Source One:
Okay, if you've been on my YouTube channel over the past year or so, you'll know that I run my own Etsy shop (actually shops) that sell digital products. Specifically, in my shop Penny Street Studio I sell Canva templates.
If you've watched any videos in the past year, you'll have seen a video or two about how I've built my Etsy shop and the wonderful benefits of selling Canva Templates on Etsy.
Initially, my Etsy shop was my main source of income, however, in recent months it has also been the catalyst to so many amazing opportunities that I now have inside my business.
It made me realise that reaching my own Etsy shop success and the journey along the way has opened the doors to other opportunities to help make me passive income. These sources include making ad revenue on YouTube, creating and selling online courses and also affiliate marketing.
Can you see the snowball effect here?
Passive Income Source One:
YouTube Ad Revenue
Okay, let's talk YouTube.
Once I started seeing success in my own Etsy shop, I realised that I would love to teach others to do the same.
I've always had a passion for helping others and what better way to do so through sharing my journey and learnings on YouTube.
Starting on YouTube was extremely difficult for me. I was shy and awkward in front of the camera, I had self-doubts about whether I knew enough to teach or whether or not anyone would even want to listen to me, let alone take my advice.
But once I got over the hurdle and self-doubt, once I started uploading more videos, I finally got my groove and SLOWLY started getting subscribers and watch time.
Once I hit my 4,000 watch hours and 1,000 subscribers (this is the benchmark to get accepted into the YouTube Partner Program) I was then able to allow monetisation of my videos. Meaning that people would pay to have their ads seen on my content.
Pretty cool right?
And although there is upfront work in creating the videos (generally this is the case when earning passive income), videos from weeks, months or even years ago can generate ad revenue which is just incredible.
If you've been on the fence about creating a YouTube channel and sharing your 'Zone of Genius' with the world, I highly suggest getting started. It's such an amazing platform to be heard and seen by the people who connect with your message most.
Passive Income Source Three:
Online Course Sales
The next revenue stream I want to dive into is course sales.
On the 31st of May 2021, so literally, just a day before June started, I launched my very first online course - the Passive Income with Canva course to my audience, with great success.
This course is a step-by-step program teaching you how to make sales on auto-pilot, selling Canva templates on Etsy.
The perfect course for anyone who is ready to generate passive income online by creating original Canva templates ONCE and then selling them over and over again through your Etsy shop.
If you want to learn more about the course, click here.
But similar to YouTube, although there is a lot of upfront work creating the course, once it's done it can be sold on auto-pilot, just like any other digital product.
Creating this course has been in the making for so, so long, and to have finally launched it out into the world has been such a highlight for me.
Being able to help others create passive income online is honestly one of my favourite things to do, and this course allows me to do just that.
Passive Income Source Four:
Now the last (and certainly not least, you'll see why inside the revenue breakdown) is affiliate marketing or affiliate sales.
Like I explained before, affiliate marketing is a way to earn passive income through sharing other peoples products or programs. Certain products have affiliate programs that essentially give you a percentage of the sales.
An affiliate program you may have heard of before might be the Amazon Associates program, however, the products, software and programs I recommend generally range between 20-50% commissions (amazing right).
Now the reasons I believe I have been successful with affiliate marketing is first and foremost I ONLY ever recommend programs I LOVE and currently use or have used in the past and secondly I make sure that my recommendations are relevant to helping my audience create passive income online too.