Hey, everyone. This is Stefan from projectlifemastery.com. In this video, I’m going toshare with you how to make passive income and different ways to make passiveincome. Now, I already did a YouTube video on the differences between active andpassive income. I recommend to go back and watch that video on my YouTube channel.I explained that active income is essentially when you’re exchanging yourtime for money. That can be at your job, you get paid for the number of hoursthat you put into your job, or it can be in a business by you providingservices, maybe as a freelancer, and maybe have like a carpet cleaning company,cleaning people’s carpets, whatever that is. You’re essentially getting paid for the service,the time that you’re providing. Now active income you can make money from that,you can do pretty well from that, a lot of people do. The challenges with it isthat it’s not very scalable, you’re not utilizing a leverage in any way. You don’thave any freedom and it can also be very stressful because if you’re making acertain amount of money and you stop working, then you’ll lose that money.You’re not making anymore money because what the money that you’re earning isdependent on the time that you’re putting in. There’s always an exchange of time andit’s not automated in anyway whereas passive income is. Passive income basicallygives you the ability to make money on auto pilot, make money while you’resleeping. You maybe create a product or service, you automate it in some way, orit could be through real estate, or investing. Essentially, you’re just puttingin the energy, the time of money at the beginning to set it up. Once it’s setup, you can set it and forget it and it continuous making you money withoutyou having to do anything in exchange for that money. Now, set it and forget it, Idon’t really fully believe in that because I think in any business or any investment you stillhave to keep your eyes on it. You still have to monitor it in some way, that make sure it’sstill sustainable but really does not much energy or time that’s required for that, ifit’s truly passive. There’s a lot of truly passive ways to make money. Now,how do you make passive income, what are the different ways?There’s a lot of different ways. I specifically prefer and focus on onlinebusinesses as a way of making passive income, and I believe is one of thebest ways to passive income. Primarily, because the Internet is changing the worldin so many ways. There’s billions of people now that are using the Internetin the next 10 years or so. There’s going to be another billion people that aregetting access to the Internet than never before had access as well.More and more people are doing business online, they’re purchasing online,people less and less are going to retail stores and what not.There’s a big transition happening in the world right now. The Internet also gives youthe ability to utilize technology to automate a lot of things for you. If youhave a retail store, you’re going to have somebody that there’s thattalking to the customers and selling to them. Whereas the Internet, you just going to have awebsite, that website can reach everyone in the worldworldwide. The website is doing the selling for you. You don’t have tobe physically be there to sell someone your product or your service.The Internet and technology had made it easier for people like you and I to get startedto start a business to utilize and automate business and to make passive income.There’s a lot of different online business models, I’ll share a few of them with youguys in this video. Online business isn’t the only way to makepassive income, there’s also just traditional business. For example, if you did havea store, you had let’s say a 7-Eleven or something like that. You can make passive income from that if you hire employees,a manager, and employees to basically run and operate the business for you.There’s going to be a certain amount of income, your business is going to makeevery month and there’s also going to be expenses. Whatever the expenses cover,whatever the excess cash flow of that business, that’s going to be the money,the cash flow, the passive income that you can generate from it. It doesn’t requireyour time to be there to run the business, manage the employees, sell, talk tothe customers and stuff because you automated it. That’s reallythe essence of what passive income is. It’s automated income. Finding way tosystematize or automate your business in some way. That basically eliminates yourtime and activity in the business and provides passive income for you.Traditional business, Internet business, traditional business is typically a little bittougherto make passive income from because it’s a business that’s dependent on people. It’s ispeople operated systems. People operated systems is okay, that’s how a lot likeMcDonald’s and franchises operate. Businesses or owners, they have lot ofdifferent business but the problem is with people there’s management required, there’smoney required. Often more money to empower employees and run it,whereas an Internet business you don’t really require a lot of employees if not any because youcan utilize technology, your website, and auto responders, and softwares to help runeverything for you, which is a huge advantage. Not much people areinvolved in the Internet business. It gives you more global reach and moreleverage in the sense of just utilizing search engines, YouTube, socialmedia, et cetera. I believe Internet business is more superior as a passiveincome stream than a traditional offline businesses but other streams of passive incomecould be real estate. For example, you could buy an investment property and thatinvestment property, you basically rent it out and the rentcovers your mortgage, your expenses, your insurance, et cetera.Any excess money that you make is going to be passive income that you’re basically earningwithout having to do anything to earn that money. Even investing a stocks,different investments like that or anything that pays a dividend is passive income.Because you’re owning a certain shares of a company and then you’re getting paideither a monthly dividend, or a quarterly dividend, or a yearly dividend that’spaying you a certain amount of money based on how many shares that you have, acertain yield. That’s another fantastic way of making passive income. Imake moneypassive, it came in all those different ways except for traditional business. I’ve gotmany online businesses. I have stock investments that pay dividends. I also own a real estate investmentproperty as well.I’ll go a little bit more into the different Internet business modelsbecause the real estate and the stocks, those are pretty straightforward and Idon’t really specialize in those as much. Let’s talk a little bit about onlinebusiness, online marketing. All right, so where the ways you can make moneythrough passive income, through Internet business. Number one is selling yourown product. There’s different types of products you can sell, there’s informationproducts, and then there’s also digital products, and there’s also physical products.Information and digital products are essentially books, video trainingprograms, audio training programs, e-books, guides. You’re basically sellinginformation that solves someone’s problems or helps them achieve a certain desire orneed that they have which can be entertainment or humor, or something likethat. Essentially, I use the example and I’ve got a course on KindlePublishing. You can write a book or hire someone to write a book for you, publishit on Amazon, sell it as a Kindle Book, sell it as a paperback book, and anaudio book. You’re just spending time upfront to create the book to write it, tohire it, to get the cover, all that stuff putting it all together. Once it’spublished, and you do some marketing, now it’s making you passive income because youyou can have that product up there on Amazon. People continue finding itand purchasing it and then you get paid money every time someone purchases it. Whileyou’re sleeping, while you’re on vacation, you’re still making money from that bookthat you published on Amazon. Another examplecould be creating your own digital courses or products or trainingprograms or even software can be an example as well. You could spendthe initial time to create that, make sure there’s a market, a demand for it,sell it online, create the website, have it on the member’s area. People purchase, theyautomatically get access to it, they can download the product or watch it in themember’s area. That’s automated form of income and you can automate yourmarketing as well. You can create content like I am right now in YouTube or on ablog,and that’s always up there on the Internet attracting people and funnelingthem into your products. That’s a fantastic way of making money,digital products, information products, and then also physical products.I’ve got a supplement company, I sell different supplements on Amazon and Ispend the time at the beginning just to set everything up. Once it’s upselling on Amazon, there’s not much maintenance that have to do to continue making that money.Right now as I’m recording this video, I’m making money from my products that I sell,the books that I’m selling, the supplements that I’m selling, and I’m recording thisvideo right nowin Puerto Rico on a Sunday. When I go to sleep tonight or whateverI’m doing I’m continuously making money. That’s the power of passive income. Now, you canalso make passive income through affiliate marketing. Affiliate marketing is where you’re promotingother people’s products or services, and you earn a commission from it. Thesecompanies or they have affiliate programs will pay you a commission for every salethat you generate for them. For example, if you published articles on ablog or on a YouTube channel, or you got the e-mail list, autoresponder, automatedfollow up series, or social media, whatever it is, you can automate thosemarketing to attract people and then funnel them into someone else’s product throughyour affiliate link. You can earn a commission every time someone buys.That company, they take care of the customer, they deliver the product, the service, theydo the customer support, and you get paid just for your referral. That’s anamazing way of making money online, one of my favorites. Affiliate marketingis a powerful way as well. There’s information products, there’s digital products,there’s physical products, there’saffiliate marketing, but there’s also services too. You could create an online businessrelated to a service and maybe just like a web design company. Youdesign people’s websites. What you can do is you can automate that by hiring otherdesigners to do everything for you and then have a manager and someone that deals with thecustomers, and runs and operates an entire business for you. Now,what you’ve done is automated that business so you freed up your time to basically travelor do whatever is that you want and you’re making passive income from that.You can automate services but again, that’s people dependent systembusiness which often is a little bit more challenging because we have to manage people and stuff,a little bit harder to setup but that’s another viable way. As I mentioned before,there are software, you can create and develop your own software and sell that online. There’s also advertisingso for example right now on my YouTube channel, at the time of this video I earned about$2,000 a month just from the ads that show up before my videos, the littleads that show up on YouTube. You can get paid from having YouTubevideos and content online. I have hundreds of videos that are right now atthis very moment getting thousands of views. For example, I can take thenext month off doing nothing,traveling the world but the hundreds of videos that have already published thatare getting thousands of views around 400,000 views a month on YouTube, theadvertisements are being displayed. I don’t have to do anything for that, so I’mmaking passive income while all of this is going on. Advertising is great,you can have the advertising on your YouTube videos, advertising on your blog, your website,content, your some called Google AdSense. That’s Google’s advertising networkwhere people can advertise in your blog or website. You can earn money for that.Basically just money for different ads showing up. There’s alot of different waysonline the Internet, but those are the main ones, the primary ways. I specializein primarily making money from Kindle publishing books, as well as paperback,and audio books. I also specialize in Amazon FBA, Fulfillment by Amazon, sellingphysical products on Amazon. Amazon does the fulfillment for me, they store the productsin their warehouse, they ship the products for me. Not much that have to do for thatand I sell supplements on Amazon. I also make money, started my own digitalproducts such as training and courses and different information that I sell online,as well as making money from software and advertising as well. I puttogether if you guys haven’t already seen it free course that shares the sevenways that I make money online that have made me an Internet millionaire. You guys can have access tofree course at projectlifemastery.com/freecourse.There’ll be a link below. I recommend go through that trainingbecause I give away a lot of free stuff, I show my business,I’m transparent, I show how I make online, and I show you how you can getstarted to build your own online business through each of thedifferent ways. If one is more attractive for you, I share with you thebenefits of each and then you can decide, “Okay, I want to go down this path and build an onlinebusiness and make passive income this way.” The amazing thing about onlinebusiness today is that it doesn’t cost that much money to get started. You canstart an online business with less than a hundred bucks which is pretty amazing.If you want to spend more, you can. Others are maybe a little bit different.The Internet is made so that anybody can get started anywhere in the world, Idon’t care if you live in Bangladesh, if you live in Australia, Europe, Asia, NorthAmerica, you can get started building online business. There’s actually kidsmaking money online. I know people that follow me, they’re 15 years old thathave online businesses that are making a lot of money. Blows my mind,these opportunities were not available for me. I wasn’t thinking aboutthis stuff when I was young, but the Internet is really changing the world andI think that’s the number one way to make money, making passive income especiallyonline. Check out the free course projectlifemastery.com/freecourse.If I missed any other ways to make passive income, make sure you leave a commentbelow. I know there are some other ways like you could loan money oryou could setup like an ATM machine, or like a vending machine orsomething like that. People will do that and they have a lot of success making passive income thatway as well. I know there are other models like that too, but anything that Imight have missed, I’d love for you guys to leave a comment below.Let me know other ways to make a passive income and let me know which way that you’recommitting to make passive income too. Because, if you’re watching this videothen you’re honestly interested in making passive income. You obviously thought about it,you’re interested and curious. I love to hear what type of passive incomemodel whether it’s internet, or offline, or real estate that you’re focusedon building and then maybe there’s a way that I can add more value and help you out as you go as well.Thanks for watching the video, make sure you leave a comment below. I’ll see you inin the next video. Hey, this is Stefan and thank you so much for watching this video. If youenjoyed this and please hit the like button below. Leave a comment to let usknow what you think and make sure to subscribe to our YouTube channel formore great videos like this. Now, if you want to take your life to the next level,then I want you to offer a free gift. It’s called My Life Mastery ToolKit andit literally has the best of the best of what I have to offer in terms of videos,articles, and resources for taking your life to the next level and living anextraordinary life. To get access to this, all you have to do is click the linkthat will appear right here on this video. If you’re on a mobile device then click the link inthe description below, and then head over to that page, enter your e-mail addressand I’ll send you immediate access to the Life Mastery ToolKit. I want to thankyou again for watching this video, until the next one. I’ll talk to you soon.