5 Passive Income Ideas That Earn $5000+ a month

As a multi-passionate entrepreneur, mom, and woman who prioritizes self-care and freedom, I’m obsessed with creating and teaching other women about passive income. I think it’s so important that we learn how to make money without sacrificing the things that really matter — and that means figuring out how to make more while working less.

If you have been searching for different ways to make money online, I’m going to share with you 5 of the best passive income ideas that have the potential to earn you at least $1000 a month in recurring income!

Ready to dive in?

Let’s get into it!

If you are new to the idea of passive income online and want to learn more about how it works, make sure to check out these resources where I break it all down:

• Tired of Trading Time For Dollars? Your 6-Part Action Plan for Creating Passive Income with Ease! (Part 1)
• Can you create passive income with an Online Course?
• My $20K Passive Income Guide

I looooove a great online course. In fact, I have built a multi-6-figure online business selling online courses, digital products, and membership sites online.

Creating a course is one of the best ways to generate passive income online. You take a topic you love teaching about, one that solves a problem and is profitable and you can sell it.

You can sell it on your website using a membership site plugin such as Memberpress or through third party platforms like Udemy or Gumroad.

Now, if you sell your course on your own website, then you can keep 100% of your profits but you have to get really good at driving traffic and generating leads to produce consistent sales.

While on the other hand, if marketing is not your strength, selling your course on a 3rd party platform such as Udemy or Shopify, which has a community of customers baked into their marketplace, makes finding customers that much easier, BUT you won’t make as much per sale. On a 3rd party platform, courses typically run as low as $10 up to around $100, and you can stand to earn around 50% of the sale price.

When you sell on your own website, you can control the entire sales process, including the brand packaging and the price. You can also charge more because you have less direct competition from other course creators selling on the same marketplace. You can sell an online course for $100 all the way up to $5,000 or more as long as the value is there. At the end of the day, the price you choose will depend on your course topic, your target audience, the value you provide, the brand and reputation you’ve built, and how well you market it.

So how should you sell your course?

Because I like to maximize my income and keep as much money in my own pockets as possible, I recommend you sell your course from your site and learn how to market your course using a solid audience attraction and passive income SALES system!

Okay I’ll be honest…

When I first started online, tiny digital products such as ebooks, planners, and templates were my bread and butter but over the years I’ve learned that courses an higher ticket group coaching programs will give you more bang for your buck.

Why?

Because the price point of an ebook or planner is so low, you have to sell a ton to earn a living. But, if you pair your tiny digital products with other intermediate and high-ticket products, it can be a quick and easy way to pad your monthly passive income online and create a cushion when you are in between launches or marketing campaigns.

For example, each year I create the WomanpreneuHER Profit Planner which I sell for between $7 and $47 dollars depending on where I am selling it and how I am promoting it. And while I have to sell a ton of them to make any significant money, the purpose of the ebook is to give people the opportunity to come into my world with a low-risk investment. By allowing people to get access to me at an entry-level price, it gives them a taste of the value I provide as a coach which makes it easier for them to make a buying decision when it’s time for me to promote or share my higher ticket offers with them.

So while you are not going to make as much money per sale with a tiny product as you would with a course or group coaching program, your low-ticket product can be used to build brand awareness and as an invitation for your audience to take the next step with you.

A membership site is a hub that ONLY paid members have access to. For people to access the premium content you add to your site they have to have an active subscription. This subscription can be in the form of a weekly, monthly, quarterly, or yearly membership fee.

Depending on what your membership site is about and the amount of content or coaching you provide, the price of your membership site can vary, with you charging each member anywhere from $7 – $1000+ per month.

The appeal of having a membership site is that it creates recurring revenue month after month but to create consistent income you have to not only gain new members (to replace members who cancel or fail to renew their subscriptions), but you also have to think about how you are going to retain the members you have, which may require you to add new content to your site each month to keep them engaged (which is not really passive, right?)

So while memberships are great, you want to #1 make sure you are committed to maintaining your membership site and #2 committed to growing your audience and driving traffic so you have a consistent and continuous stream of people coming into your membership.

Speaking of memberships, there is a new push for social media sites such as Instagram and YouTube to offer subscriptions that allow you to monetize by offering exclusive content and benefits to your most engaged followers at a monthly fee.

By activating the subscriptions feature (which may or may not be available to you) followers can subscribe through an in-app purchase on their mobile device and you can manage your subscriptions inside of the social media app.

So this may mean that you create exclusive content and offer membership perks that only active subscribers have access to.

Memberships are available at different prices and the social media platform your subscription is set up on, will deduct a percentage of your overall revenue. Yes they want their cut!

If you’re anything like me, you have been sitting on the idea of starting a channel for months, maybe even YEARS.

There are multiple ways to earn passive income with a YouTube channel. Here are a few ideas for you.

Create original content

If you are already creating content for a blog, social media or podcast channel, why not repurpose that content in the form of a video you can post on YouTube? Not only will it help you build brand awareness, it is also a great way to create a community around your content while pitching your own products and services directly to your YouTube followers.

Ad-Revenue Share from the YouTube Partner Program

Applying to join the YouTube Partner Program (YPP) is a milestone in monetizing your content. As a YouTube partner, YouTube will leverage your original content to post ads that target your audience.  So when you see those ads that play before your video, or you see ads that show up in the column on the right-hand side of your screen, or below your video, these are strategically placed advertisements geared to grab your audience’s attention.

If one of your viewers clicks on the ad, then the YouTube creator (YOU) would get a percentage of the money that the business paid to run the ad.

Affiliate Sales

You do not have to have your own products or course to earn passive income with YouTube. Did you know you can earn a commission as an affiliate marketer? This means you can get paid to promote someone else’s program, product, or service through a custom link that tracks activity on your affiliate account.

For example, as an online entrepreneur and course creator, I use a number of different tools to build my business. From Teachable to Canva to website hosting with SiteGround, just about every company has an affiliate program. So when I share tips with my community about how I am growing my business, oftentimes I will recommend a specific product or service that I know would be beneficial to my audience.

When I share my affiliate link in a video, caption, or description box directing my audience to that specific product, if they click that link and decide to purchase the product or service I recommended, that company will pay me a small commission as a “thank you” for helping us sell more of their stuff!

Word of caution: While the sound of making passive income online with YouTube videos sounds fun, it is also really hard work.

Creating content (and making money) on Youtube is a marathon, not a sprint.

There will be videos you spend hours and hours scripting, filming and editing that DO NOT perform the way you expect, but once you create a YouTube channel keep at it. It will pay off if you are consistent.

We just touched on this above, but instead of making a small commission on a lot of products with affiliates, you can instead choose one or two high-ticket products to sell — usually an online course or group coaching program — and focus on marketing that to your audience.

You can start a YouTube channel or blog based on that product or topic, start building an email list, or promote it on a social media platform.

Now for the plot twist…

You can also take your own existing online course or membership site and create your own affiliate program allowing you to leverage the audience you’ve built and reward them with a commission when they sell one of your courses or programs.

Regardless of what affiliate model you choose, your goal is to build a trusted army of people aka a large audience that will be interested in the product, service, or course you are recommending.

There are so mamy ways to make $5K in pasive income online and if you want to mix things up, here are 5 ways to earn $5K in the next 30 days

There are tons of ways to make $5000 in passive income online.

And the best news?

You really don’t even have to create your OWN products.

Don’t handcuff yourself to just ONE stream of making money because some “influencer” told you that was the best (or only way) to make money online.

It’s not always about what’s going to make you the most money. Sometimes it’s about selling a product (or type of product) that allows you to create a life for yourself that is aligned with your goals. (Time freedom, being able to impact more people, or being able to create something once and sell it on autopilot)

Try different things. See what you like, what you don’t and at the end of the day do what makes sense for YOU.

➡️ Want to steal my step-by-step process on how to pick, plan, package and profit from your first (or next) digital product, online course, or coaching program? 🙋🏽‍♀️

It’s the same process that has allowed me to make over $500K with digital products and online courses. Click the link here to learn more about WU. ✨

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