5 Passive Income Business Ideas

I want to share with you my top 5 passive income business ideas for financial freedom.

In my opinion, everybody should be pursuing passive income. That is what will allow you to do what you want, where you want, with whomever you want.

Passive income is money that you earn in a way that requires little to no daily effort to maintain.

Trust me when I say that there is no greater feeling than waking up to see that you've made money while you were sleeping.

Grab a journal, take some notes and get ready to find out my top 5 passive income business ideas for 2022!

Watch the video below:

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How would it feel to make money while you sleep? CLICK HERE to take my 60-second quiz to find out which online business model is the best for you to start your online business!

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Making passive income is a life-changing experience.

Everything in your life starts to become a lot more fun once you get out of the rat race and stop living paycheck to paycheck. Before I dive into 5 passive income business ideas you can use to build real wealth, I want to first shed light on a passive income myth that exists.

Don't get me wrong… you can make passive income from each of the 5 business ideas that I'm going to share with you, but the question is, for how long? Regardless of which online business model you decide to pursue, the Internet is always changing.

If you don't adapt to it, your income will not be able to sustain itself or grow. To this day, I continue to consistently make passive income from 5 different passive income streams. I get direct deposits into my account every single month from some of these income streams.

However, because I haven't maintained or updated them, a lot of them have died off. This is why it's challenging to have a lifetime's worth of passive income with an online business. I truly believe that the best passive income is through real estate and stocks. 

Those are assets that don't change all that much, in comparison to the Internet that is always changing. Nevertheless, the business ideas that I'm going to share with you today are still incredibly powerful.

My long-term passive income strategy is to invest the money that I make from my online business into long-term passive income streams that compound over time. With that being said, let's dive into my top 5 passive business ideas!

1. Selling on Amazon

This is the hottest opportunity that exists right now. Amazon is the #1 online retailer, due in large part to the accelerated eCommerce growth that arose from the COVID-19 pandemic. When it comes to selling on Amazon, there are three ways to go about it.

First, you can sell private-labeled physical products on Amazon or you can create a product of your own. If you're a beginner, I highly recommend that you take the former route.

Private labeling a product means that you find a product that is already profitable, put your label or packaging on it, and sell it on Amazon. If you want to discover how you can experience your first $10,000 per month with Amazon FBA, check out my FREE 4-part Amazon FBA video training series.

A second way to take advantage of Amazon is by selling wholesale products. With wholesaling, you are an authorized wholesaler of other brands and you share their Amazon listing. The more products that you have up and running, the more passive income you can make.

A third way to sell on Amazon is through Kindle book publishing. You can publish a Kindle, paperback, or audio version on Amazon. The great thing about Kindle publishing is that you don't have to be a great writer. You can hire ghostwriters to write books for you via platforms like Upwork.com.

Selling books on Amazon is a great way to share your message with the world. There is work involved to start getting sales, but once you gain momentum, it's easy to maintain those sales. If you're interested in becoming an Amazon book publisher, watch my FREE book publishing video training that reveals how you can create a $10,000 per month Amazon book publishing business from scratch.

2. Selling on Shopify

Shopify is a platform that allows you to build your eCommerce website. With Shopify, you're creating a brand, which means that you are responsible for getting traffic to your website. This is where it gets tricky when it comes to making passive income.

If you want to drive traffic to your Shopify store, you will most likely have to utilize the power of ads via Google, Facebook, or Instagram. Once those ads become profitable, you will have to check-in on them every week to make sure that everything is running smoothly.

3. Creating an online course

An online course should add value or solve a problem in a specific niche. From personal experience, trust me when I say that there is a lot of time involved in creating a course. You will have to put together a members area and a sales page. On top of that, you may have to hire someone who can take care of customer support and maintain your business.

That being said, once you have your online course set up and you are getting consistent traffic and sales from it, it becomes very passive. One of the ways that I consistently get traffic to my online courses is through the content I create.

Over the last 9 years, I've created so many pieces of content on the Internet – over 1,000 Youtube videos, 1,200 blog posts, and 800 podcasts. This is what allows me to take months off of my business, while still making money 24/7.

4. Affiliate marketing

I love affiliate marketing because you don't have to invest the time, money, and energy that it takes to create a course or a product. As an affiliate marketer, you are solely responsible for focusing on traffic and promoting other peoples' products or services.

You earn an affiliate commission for every person who buys something through your affiliate link. The best affiliate programs that I've worked on are the ones where I've promoted products, software, courses, or tools that pay recurring commissions.

As long as people stay with their subscriptions, I consistently make passive income from them. If you want to learn my step-by-step system for how you can create a consistent stream of income with affiliate marketing, I encourage you to join my FREE upcoming Affiliate Marketing Masterclass.

5. Creating content on YouTube

I've been a Youtuber for 9 years now. There are a lot of pieces of content that I have that consistently bring in passive income. Like I said above, I've published over 1,000 videos on YouTube. Each one of those videos is a passive income stream.

If I didn't publish any new videos over the next year, I would still make $10,000-$15,000 per month from the videos that are already published.

If someone watches my videos and an ad appears, I make money from every single ad. Once your YouTube channel hits 1,000 subscribers you're eligible to sign up for YouTube's Google AdSense Program.

Which passive income business idea will you take action on this year?

Whichever passive income business idea you start with, commit to investing time, energy, and money (if necessary) into setting it up the right way. If financial freedom is your end goal, remember that the more passive income streams that you set up, the more passive income you will create.

How would it feel to make money while you sleep? CLICK HERE to take my 60-second quiz to find out which online business model is the best for you to start your online business!