How do we make that leap from zero dollars to passive income online?
I’m grateful for a chance to answer this question for you because at one point in my life this looked impossible. What I’m about to give you is a very simple system that will allow you to go from nothing you have ever earned or hardly anything online into having passive income online.
From $0 to Passive Income Online!
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This system is simple and at the same time, there is a lot of leaps of faith involved in it.
I’m grateful I’ve earned, thanks to your help and millions of other people alongside you, I’ve earned millions of dollars online and there is nothing special about me. I’m just a regular person. There is no reason you can’t also.
From zero dollars to passive income online, here is a simple system I will explain to you right now.
First, you want to combine active and passive income from the beginning. There is a lot of ideas that we can just try to set these passive income things up. The fact is setting up passive income stuff takes time, like I’m narrating this for a YouTube video, a Facebook video, a podcast, and a blog post.
That stuff takes a long time to set up. I’ve put hundreds of podcast episodes out. I’ve put thousands of YouTube videos out and videos on Facebook. I’ve got hundreds of blog posts out. I’ve got thousands of dollars a month in passive income now. I literally don’t have to do anything and the money just rolls into the bank month after month after month.
The key is, it took and still takes a lot of time. I keep building and working on that passive income online. You need time to make that passive income online. What you do to get the time and the inspiration and the ideas is to work on the active income and the passive income together. You balance out the active and passive income.
Therefore, you have a job already that you do, then you can keep doing that as long as it’s not draining your energy to make the passive income things.
What kinds of things make passive income?
Videos on YouTube are awesome for passive income. Videos on Facebook can do passive income now that Facebook has allowed creators to monetize videos. If you get a video viral, you can make passive income off of it.
A podcast can be good for passive income.
Generally, it’s a combination of active and passive though. Almost any passive income you set up will have either an active component to it or it will dwindle over time. I have some true passive income like my audiobooks on Audible that make money every month, it pretty much doesn’t matter what I do.
My books on Kindle, my videos on YouTube, ad revenue comes in every month, even if I don’t upload any new videos.
The idea that we are just going to make something that will take care of us for life with passive income, that’s possible, but is that what we are able to do to make the biggest difference in the world?
Staying involved in my business on a daily basis is a joy. I’m not looking to just hustle and make something that makes me passive income forever as a means to some other end. If you want to get from zero to passive income online, the ideal way I see to do it is to combine it with active income as a part of a business you love.
The worst way I see to do it is to try to make something that’s a means to an end that you are just going to sell or try to set up just to make money so that you can go do something else, where you don’t really care about the thing itself.
Once we have seen this basic from zero dollars to passive income online setup, then what we can do is focus on building some active income and the basic way you build active income is serving clients and I will show you an example of this system from someone else.
You can look and see the whole system from me, but I actually don’t have any clients. Maybe you could call my partner program, clients. I don’t really have clients that I serve in the traditional way, though. A membership program is also not passive income, that’s active.
So let’s go over, I will show you Jewel and Auret with Essetino Artists. I just interviewed them today for a podcast episode and I’m doing a video to take one of the best parts out of it and put it in here.
They started out like I did in 2011 online. Like me, they have built up a YouTube channel with tens of thousands of subscribers with millions of views, tons of helpful tutorial videos. They are a member of my partner program at Jerrybanfield.com/partners.
My partner program is how I discover and look at people to share. I focus all my attention on consuming from people who have created in the partner program and their recommendations. What we can see on Jewel and Auret’s channel, the YouTube channel is an asset that they can draw passive income from.
YouTube ad revenue comes into their YouTube channel, regardless or not whether they actually upload new videos.
Now what Jewel and Auret do is they keep uploading and actively working on building their passive income source while also then using Fiverr to serve clients. You can see they have hundreds of reviews here representing thousands of dollars of sales.
I would imagine tens of thousands of dollars of sales represented here on their Fiverr account. What you can do when you are starting out from zero is start off serving clients.
Fiverr.com is an awesome place to start out serving clients.
Upwork.com can be a great place.
My wife has done really well on Upwork.com.
Guess how my wife thought to look and do it?
Because I was doing it, and she said even though she is an attorney, and she has got a significantly different education with my masters in criminology, she was able to pretty quickly look on Upwork.com get some freelancing jobs and make good money writing articles from the comfort of our own home.
What we get out of doing active income is inspiration for passive income. When I started out online, I started out just trying to go straight for passive income, essentially. Things I could set up, and then would make money just indefinitely like build a website, put up YouTube videos, or sell t-shirts.
But what I did not see was that I lacked a lot of inspiration and the initial income for it. Most of us are not able or in a position to just sit here and work constantly on something like a YouTube channel and try to build the passive income.
If you are in a position to do that, go for it. If you live with your parents, you don’t have any bills, just work on building that passive income in a way that’s active and makes connections, like a YouTube channel is very good.
So what Auret and Jewel do, they have a YouTube channel, they keep putting up new videos, then they get clients from YouTube over on to Fiverr.
The real magic if you want to make money online is balancing that active-passive income relationship.
The more Jewel and Auret work on the passive income, the more they keep getting active income through their Fiverr gigs, and what you get through YouTube videos that go to Fiverr, is qualified active income, which is ideal.
Qualified active income means that the income is not just a random person who has found you online. It is someone who has seen a video, for example, someone who has seen Jewel and Auret’s video, already likes them, already wants to work with them, then comes over to Fiverr.
You have pretty much got a guaranteed five-star review coming out of that. As long as they make the effort, they have got a very good shot at a five-star review versus just trying to always get people you have no previous relationship with.
You might think, “Okay, Jerry, well, that’s great. Jewel and Auret have all of these valuable skills, they are able to design courses, they’re able to produce videos, they’re able to do all the things you see on the gigs. Well, Jerry, I don’t have any useful skills.”
If you say you don’t have any useful skills, it is because you don’t know yourself. Everyone has useful skills. Think about from the point of view, even of my son. He is six months old. He is a baby. You might say, he doesn’t have any useful skills. He is the Zen master. I give him a hug for a while, I feel better. That is a really useful skill to help someone else feel better.
You can walk, I bet you can talk, you can see, I bet you can read.
Those are valuable skills.
Can you type?
That’s a valuable skill.
Can you produce a video?
The magic formula we came up with today, if you would like to really get into having passive income making videos, especially if you can do live streams, like I do on Facebook gaming at Facebook.com/Jbanfield almost every day, that is the best opportunity I see because when you get people in live, you then can get clients in.
You don’t even need a lot of people watching. You might be able to find some new clients among your friends who are already on Facebook, who just didn’t realize you were freelancing.
What I’ve noticed is there are tons of people who need help all over the place with things online and there are lots of them who will be willing to pay for it and some of them you can even just do it for free just to learn a new skill.
It is the interaction over and over again. Jewel and Auret are able to make tutorial videos based on things that they learned working with clients. Then, the videos they make, get them new clients. They get new clients, learn new things from working with the clients and they put new videos up about it.
That’s how I started teaching Facebook ads. I started out just wanting to make money online. I noticed people needed help with Facebook ads. I started learning to do Facebook ads myself. I made ads that could get my page likes for even less than one cent. I built a ton of likes on my page.
Then I would come to someone and say, “Hey, I see you’re running Facebook ads for your page. Are you paying $1 for a like? If you would like to get some cheaper likes, just hire me to do your Facebook ads. I can get a ton of likes on your page.”
Those clients then helped me to branch into other things like, “Well, yes. We are also doing Google AdWords.” I learned Google AdWords, then I taught Google AdWords. I made video courses on Google AdWords.
People that I was working with, interacting with online, were taking video courses.
I thought, “Hey, if I can upload a video on YouTube, there’s no reason I can’t make a video course.”
I earned tons of money by making video courses, and I taught other people how to make video courses. I had more clients that I worked with. You see, it’s that positive reinforcement loop where you do something, you learn something, you teach it. Your active income helps build your passive income. Your passive income builds your active income. In my experience, you really want to build all those together.
Now today, my income stream is a balance of active and passive income. I’ve got a partner program that you might think it just sounds like passive income. You pay $49 a month or you get lifetime access for $1,000.
However, this is very active income. I have weekly group calls I do on Facebook. I have private label rights available for my thousands of videos. I have private messaging available for partners. I’ve got a Facebook group for partners, access to all my HD video courses, YouTube and Facebook collaborations.
You can see, that’s a lot of work and yet it might look like on the surface, “Oh, that’s great, Jerry. You just build a membership program up and get passive income.”
For some partners it is passive income. Some people just use my videos for private label rights, and then I don’t have to hardly do anything. I just do what I normally do and the partners who just want the private label rights out of my videos, then are just going in and using the private label rights on my videos, and they don’t even hardly talk to me. They have got their own website or their own courses, they are putting the videos up in their own direction.
However, this works really well. It complements my passive income because my partners are likely to buy my books if they haven’t already. My partners are likely to sign up for something like Skillshare, which helps my partners help me, like Jewel and Auret, to make a podcast episode, to make a YouTube video, to make a Facebook video. All of that has the potential to earn passive income.
My partners inspire me with tons of ideas. My partners are the membership group I was looking for. The biggest vacancy I see with most people trying to go from that zero dollars to making some really good passive income along with active income, is having a good membership group to be a part of.
That’s one that I lacked so I looked around and I said, “I don’t want some group I got to pay some ridiculous amount. I want to have a group where I could have afforded to join it from the day I started my business.”
That’s why the cost for my group is $49 a month or $1,000 for lifetime access, and I’m grateful today that I’ve got the courage to do that and the will to give back because sure, there are other things I could do that make more money.
But if you are going to have a business of your own, you really should love it and enjoy it, be inspired by it, and the partner program inspires me, which is why I’m so grateful to get to do it.
We have got a Facebook group in the partners program where we hang out, where we help each other and the Facebook group helps me out fantastically.
I’ve found my free podcast hosting that actually has built-in sponsorships. I found a new source of passive income.
Yes, after working seven years online, doing all these tutorials, thinking that I know everything, I found a new source of passive income, thanks to my partner program.
You see, before I was paying $24 a month to host my podcast with no easy way to set up sponsorships. Not one sponsor in five years despite 700 plus episodes, and 100,000 plus listens.
Jr. Swab, who is a member of the partner program, introduced me to Anchor.fm, and now, of course, I’m introducing people to Anchor.fm.
Jewel and Auret said, “Wait, you have a podcast?”
My partners then start listening to the podcast, it generates more passive income, they share the podcast with others, it generates more passive income.
I think if you really want to make passive income, you need to be part of a community. What I heard Jewel and Auret say that stuck with me in our call we did today, they were saying that they went to a ton of networking events.
When they started their business, they made almost no money. They went to a ton of networking events. They tried to get to know people, they just put a ton of time and energy working on their business because they could see it was much better than what they had been doing before.
Today there is no going back for me to a nine-to-five job, because I love what I do. I love the chance to help you every day. I love the chance to build an abundant life and there is more than enough income for all of us.
The thought comes through my head sometimes that there is not enough money for everyone.
“Jerry, you’re just making too much money online. There’s not enough for me left. And the guys way above you, they are hogging — There’s not enough money.”
There is an abundance of money in the world. There is a ton of people who would love to help you build the life of your dreams. All you need to do, is take a leap of faith, listen to the people who want to help you build your dreams and help.
I show up every day just trying to help and now I take for granted that I have thousands of dollars of passive income a month that comes into the bank. I could literally not do anything and the income would come in indefinitely.
In fact, I actually lose subscribers every time I upload YouTube videos. I would probably have more subscribers in the short term if I just didn’t upload any new videos, but I keep uploading and I keep trying, I keep creating, and essentially my clients now are in the partner program.
My clients are in my partner program.
These are other people like me.
We help each other and this essentially is where I make my active income along with live gaming streams on Facebook, which that’s very much active income.
I have to show up and live stream. Then people just are so generous, bunches of people just give me donations out of the kindness of their heart, and then guess what?
The people who are watching the live streams on Facebook get into the passive income and it’s just this feedback cycle.
So, if you want to go from zero to passive income, it takes a leap of faith first, and then what you want to do is make a very healthy relationship between your active income and your passive income.
Making videos online is the biggest single step I think you can take to building passive income, and videos on YouTube that are available for free indefinitely from search.
I get a lot of people who ask why I have so little views on my new videos. It is because my entire strategy for my YouTube channel with 22 plus million views and hundreds of thousands of subscribers, is organic search traffic.
I’m making this on December 12, 2018.
I’m interested to know when you have actually watched it, listened to it or read it because if you read it sometime after 24 hours after I created it and published it, it will probably be published in a few days.
So if you have consumed this anytime in January 2019 or later, you are in the middle of passive income online. You are directly in the middle of it.
I’m explaining to you my creative process, and Jewel and Auret in Vancouver, Canada, are doing the exact same thing.
You set your YouTube channel up, you work, build your passive and active income back and forth. They feed off of each other. Your passive income comes from the things you create like videos, books, blog posts that are organic, that can just sit out there indefinitely and make money.
You more than likely need at least 1,000 blog posts, videos, podcast episodes all combined if you want to be able to make thousands of dollars a month in passive income.
The good news is you just make one at a time every day and they build up really, really fast over a period of years.
Thank you very much for watching and listening to this, or reading this.
I love you.
You are awesome.
I’m here to help you every day.
I’m grateful for the chance to help you.
If you would like to have voice calls with me and join a partner group where we can collaborate and I can help, some of the people following me, to help you build your active and passive income, will you please join the partner program at Jerrybanfield.com/partners either by becoming a patron or getting lifetime access for $1,000?
Because this is a support group that I imagine will help you get to a reality where your passive and active income are things you accept on a daily basis like I do today, like almost every one of the partners does today also.
Thank you very much for making it to the end of this.
I’m grateful for the chance to serve you today and I hope this has been helpful.
Edits from video transcript by Michel Gerard at www.michelgerardonline.com.