Want to travel the world and make a living at the same time? Here are 6 passive Income streams You can create as a digital nomad. As a digital nomad we have to be able to make a living while we’re on the road. I show you how to make a living on the road as a digital nomad by creating multiple passive income streams. In a previous video I talked about what passive income is and why it’s important. In this post I will talk about 6 passive income streams you can create while on the road to build your fan base, grow your audience and make a passive monthly income as a digital nomad.
To be a digital nomad and travel the world costs money. Why not make money while you’re traveling the world, that way you can continue to travel the world. See how that works. You do this by creating multiple passive income streams. Adsense is probably one of the best, then you have digital products, affiliate marketing, and membership subscriptions just to name few.
What is a passive income?
Passive income is steady dependable cash flow that is generated automatically without continued work. I could write a book about passive income there is so much information. (maybe I should) But the basic gist of it is “easy money”. Is there a such thing? Yes there is. But you have to work at it. “What! Work? You just said easy money.” Yes! I did, and it is easy money. It’s just tedious and time consuming setting it up.
Look at it this way.
Would you work a job with no days off for a year straight to never have to work another day of your life after that year? Um…if you’re smart, YEAH! You would. Who wouldn’t? I’d do it…as long as my body and health holds up, sure. As long as I’m not working myself to death, sure, I’d work hard for a year of hard work to never have to work again and make easy money later.
It’s residual money. And THAT is EASY MONEY! And THAT is what this blog is about.
That’s passive income. Put in the work now and reap the rewards later. Cash flow continuously from now until the end of the internet, and I don’t see the internet ever going away…unless we extinct ourselves with some idiotic nuclear war or Zombie Apocalypse, then maybe. But I can tell you if there are zombies running around I’d still be ok with it. I was born for the apocalypse. (but that’s another blog).
The point is, you can make a steady dependable passive income later if you put the time in now to build it. That’s what this blog is about.
So here are your 6 passive income streams I promised.
Plus a little extra at the end of the post.
Multiple Passive Income Streams
Make a passive income via ad networks like Google Adsense, Taboola, Outbrain, RevContent, Media.net, and Content.ad. There are a myriad ad networks out there. Not all are compatible with one another, so make sure you can mix and match and you’re not violating the TOS for Google Adsense.
Youtube and your blog or website can be monetized with Adsense. You can also do sponsored videos and sell ad spots/plugs in your videos.
Online Subscription Service lets you charge subscribers a small monthly fee for premium “Patreon Only” content. This is great if you want to do separate content from your blog content, it’s more work, and not quite purely passive income because if you stop producing content the money will eventually stop as well.
Direct blog subscribers through Paypal and Stripe subscription buttons on your blog. Same thing with Patreon above, you must continue to publish content, and that’s cool if you’re just posting videos and travel photos of the awesome places you travel to as a digital nomad, but if you’re going to make money online this way then you’re going to have to work at creating “fresh content” each day, week, month, etc. if you’re selling subscriptions to it.
OR, if you read the 4 Hour Work Week, you can outsource the work to someone else and monetize that content. There are plenty of talented people out there that are perfectly willing to bang out some content for you for $5, $10, $20, $50, or $100 a pop for a post. As long as you have tons of subscribers to offset the cost it can remain very highly profitable.
Digital Content Sales/Subscriptions
eBooks, audio files, photos, and other digital content you sell for a one time fee or as a subscription based service. Same as above. Ebooks are better because you have the initial outlay of time, money and work, and you don’t have to keep creating new content each day, week, month etc. Just update the book every year or so and sell the NEW 2019. 2020, 2025 EDITION etc. This goes for any topic. There are lots of people out there who are wiling to pay for content. In fact, Ive found that people want to pay for content because they have this strange belief that “free” is not valuable.
Create an eBook and Sell it
Try it sometime. Put a post on your blog. Keep it there for a few month, a year, whatever. Then check the stats, traffic, likes, shares, comments, etc. If it’s not pulling well, then unpublish it, put it in an ebook/report, edit it, add some content, use the digital publishing tools I listed here to create the digital download version etc. put a $9.99 price on it and sell it to your email list or on your blog.
NOTE: I’m not saying you should rip anyone off. I know some folks might look at that tactic and think it’s kinda gray-hat, but it’s not. If you add value to it by ADDING more content to it, and tweaking the layout, giving it a professional look and feel, and really put some time into it, then sure, it’s worth $9.99.
To maybe 1000 people at least. Right? That’s like $10k in your pocket for a few solid hours worth of work. Look at it this way. Let’s say it took you an hour to write the original post, then you unpublish it after a year or so because it’s just not pulling well, tweak it a bit, add some juice to it, put in some educational information and pretty pictures, give it a professional layout and say that takes you another 10 hours.
That’s worth 10 hours, right? So you have 11 hours in the ebook and now you’re going to sell it for $9.99. If you sell 1000 copies that’s $10k ($9,990 to be exact). That equates to $908.18 per hour. Is that worth the 10 extra hours you put into it? Absolutely it is! Is the digital ebook worth $10? Absolutely it is!.
Amazon affiliate marketing program pays you a small commission for placing affiliate links on your website. When customers click those links and purchase products from Amazon, you get a small commission (up to about 8%)
eCommerce Drop Shipping
Though not quite a “Passive Income” it is a solid way to make a dependable income IF you use a drop shipping service to ship your products to your customers.
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Thanks for reading. I really appreciate you.
You are awesome!