that was the average salary in 2022 53 000 this is how much passive income i've generated in the last month alone 250 000 that's the power of having multiple income streams so today i'm going to reveal the five passive income ideas i've used to make more than a thousand dollars in 24 hours but here's a warning if you think this is going to be easy then please stop watching this video right now if it was easy to make a thousand dollars every 24 hours then everyone would be doing it however i can tell you this if you're prepared to put in the work required to set up these income streams then it's entirely possible i should know as i started with absolutely nothing to my name idea number one starting an email newsletter hi guys it's mark so what if i told you you could press send on an email and earn thousands of dollars in a couple of seconds this might sound impossible however people are already doing it a popular email newsletter called the hustle was actually recently sold for between 25 and 30 million dollars the best part about starting an email newsletter is it's very low barrier to entry this makes it a lot easier than any other type of content creation as all you need is a laptop or even a phone it's also mostly free to start as most platforms allow you to grow to a thousand subscribers before charging you a single penny there's actually a popular saying that you only need a thousand true fans to become a millionaire this kind of loyalty is what email newsletters are great for building i've recently started a free newsletter of my own called strike it big which is loaded with valuable information and insights about growing your wealth that you won't get anywhere else i only launched this a month ago and i already have over 10 000 subscribers enjoying the content if you're interested in receiving weekly emails i'll drop a link below due to its success i've actually had brands reach out to me and offer thousands of dollars for one quick mention i put a lot of this success down to the way i've always approached life you should aim to give more than you get with a newsletter it's so important to offer your audience a huge amount of free value then in the future if you do want to ask them to do you a favor they'll be happy to help you out in addition to this you need to be interesting i remember a friend of mine telling me that his company sends out a long email every week to keep everyone up to date with what's going on however it was a bit of a running joke in the office that no one read it that's why it's so important to entertain as people come for the content but stay because of your entertainment value if you don't know what to write about then you could just curate things that you find interesting throughout the week and share them with your subscribers this is what tim ferriss does with his five bullet friday newsletter and he now has over 2 million fans max millions from sponsorships and affiliates affiliate links are a great way to instantly make money if you're growing your list because if you want to recommend a product to your audience then you'll get a kickback if anyone chooses to buy using your link whatever you choose to write about it's very important to make your subscribers a promise of both quality and reliability you need to convince them that it's worth their time the main benefit of an email newsletter is that you're able to own your audience this is very rare as on other platforms like youtube i'm not able to contact you directly that's what makes newsletters a great way to make passive income and who knows you may end up selling for 75 million dollars like morning brew an email newsletter austin reeve started in his college dorm idea number two collecting royalties have you ever wondered why so many music artists try and get a christmas number one well it's all about the royalties noddy holder lead singer of the 1970s glam rock band slade once said that his song merry christmas everybody is his pension and he wasn't joking that one song will pay him a decent living in royalties for the rest of his life without him having to lift a single finger if you can't sing like me then the good news is it's not just musicians who can collect royalties authors script writers inventors and others benefit from the resales of their products and ideas i'm going to be honest with you this requires a lot of upfront work however once you've created something then you can continue to get paid for it forever to be honest you are taking a bit of a risk because if you don't get enough people to see your creation or use your invention then your time would go to waste to minimize this risk it's very important to identify a proven demand be on the lookout for something scarce or not being done very well that you can improve upon my eyes were opened up to this when i turned on monetization on this youtube channel i never aimed to become a youtuber i just noticed there was a lack of financial education in school so i had to take things into my own hands i heard somewhere that if i turned on the adverts then youtube would promote my videos more now i don't know if this was true but it did seem to work to my amazement one of my early videos gained four million views and has now made me over a hundred thousand dollars in royalties even if you don't fancy making videos then you could team up with someone that does and write their scripts in return for a split of the profits surprisingly there are also ways you can benefit from royalties without actually creating anything this is because in order to gain money to fund projects it's very common for creators to sell their royalties or a percentage of them if this was a songwriter then they would still own the rights to those tracks but would share a part of their income with an investor whenever they were played on the radio or streamed online i've actually been offered money to buy my future adsense from my old videos mr beast has used a service like this before called spotter they've already spent 200 million dollars on royalties which shows there's a lot of potential for you to make at least a thousand dollars per day in passive income idea number three selling digital products imagine making two million dollars in 10 minutes all from the comfort of your sitting room well my son curtis was recently telling me about one of his past clients who did exactly that selling digital products now digital products can't be held tasted or touched but everyone consumes them now more than ever they also come with a whole host of benefits that make them perfect for making passive income firstly as they aren't physical it means you don't have to pay for storage and they never run out of stock secondly your profit margins are very high as the cost of creating the digital product only has to be paid once and then you have it forever thirdly you don't have to worry about shipping nightmares or paying people to send your items for you many people have told me that i'm silly for not selling an online course as there is a lot of demand however as it's so easy to get into the market there are a lot of bad products out there this is a shame as it's giving the whole industry a bad name so that's why if i were to sell anything then i'd have to give it a lot of time and energy and at the moment that's just not possible as i'm running multiple businesses outside of youtube all i ever do is tell you about the free stock worth between three and a thousand dollars from public.com that you can pick up with the link in the description as at least it gives you something back and the channel benefits from people using the link so just remember when you're creating your digital product just make sure that you're making something that's truly valuable sometimes the easiest way to improve an idea is to do what's called a scrappy launch the goal is to get something out into the world as soon as possible so you can put your idea to the test and improve from there you can sell templates courses audio books spreadsheets and even licenses with a quality product you'd be making a thousand dollars a day in no time idea number four be the middleman i recently sat down with a man who made 10 million dollars by the age of 21 selling items online but the funny thing is he never actually held any of the products in his hands this is completely different to me because i generate a lot of money selling physical products using the internet but it's time consuming and it also cost me thousands in warehouse based staff wages and packing materials that's where both drop shipping and drop surfacing comes into play since the pandemic online business has surged beyond belief and by the end of 2022 these sales will likely reach over five trillion dollars there truly is an abundance of cash out there ready to be collected and with the right strategy you don't even have to be the one sending the parcels or doing the work drop shipping and drop servicing is selling physical products or services on the internet without ever stocking the product yourself this allows you to start your very own business with minimal cost as there's no staff storage or inventory fees if that sounds too good to be true then believe me it's not you're getting paid for your marketing and online expertise just think about it the people buying the products and services you're advertising wouldn't have known that they ever wanted the product without your help this is why your skill set is valuable to both the customer and also the supplier you're the middleman all you need to do is find a supplier that sells popular winning products or has a range that excites you and build a store around it every time a customer orders from you all you need to do is place an order with the supplier and have it shipped directly to their address you can also do this with services instead of products like selling logos all you'd have to do is find a customer get a designer and instruct them to make it to your client specification for less than you charged if you can buy a product for five dollars and sell it for twenty dollars you're making a call fifteen dollars profit every single sale of course there are other expenses like advertising costs and returns but you get the idea as you grow your business you can generate higher profits by introducing new products and achieve the almighty one thousand dollars a day idea number five launching a membership at the height of andrew tate's popularity he had 108 000 members paying him 49 per month that means he was making an eye watering 5.3 million dollars every single month or from a simple membership site i think this example shows you that even if you were able to get a fraction of tate success then this can be a very lucrative way to make a lot of passive income in my opinion this type of income is better than a lot of others on the list as it's very predictable you can easily tell how much will be coming in every month as long as you retain your members the side men have even taken notice of this passive income stream and recently launched side plus they're charging about ten dollars per month and probably making millions in reliable passive income the beauty of a membership is that there's no limit to how many members you can acquire plus it's easy to scale up without increasing your workload i actually started a free discord group last month for fun called strike it big it's for anyone that's interested in entrepreneurship and investing i just felt like it was time to have a home for our community i'll leave a link down below if you want to jump in it's completely free in order to create a successful membership you need to have some kind of niche and value that you're providing then host it on the platform that your audience uses the most the best i've found are facebook and discord i've seen golf swimming business and cooking memberships absolutely smashing it and making far more than a thousand dollars every 24 hours these are unpredictable times though with the growing fear of a coming recession if you want to know what you need to do with your money right now then i'd recommend watching this video but don't click on it just yet make sure to subscribe if you want to grow your wealth okay i'll see you over there
