7 Passive Income Streams To Create In 2023

Here are 7 ways to make passive income that don't require purchasing, storing or shipping anything, can be ran from anywhere in the world, can be done part time or while you have a job. These are all streams I've created in the last year and only required a few hours from me per week.

1 - Amazon Influencer program - allows you to create 'shoppable videos', basically demo's or videos of products sold on Amazon, they will place them on the product page and if someone watches then buys, you can make between 2-8% commission. Check out my YouTube playlist about the Amazon Influencer Program here! 

What's amazing is I did video reviews on all of my favorite Amazon items in my house, we knocked 200+ video's out in about 45 days. I took the entire month of June off (and most of July) and I'm making around $600 per month in straight passive income that will continue to grow over time as I add more videos. 

2 - Amazon Associate program - anyone can make a small commission recommending pretty much anything sold on Amazon. Easy to apply for. I recommend a lot of books or stuff like my podcasting set up and after years of never thinking about this, finally signed up as an affiliate. My first commission came from recommending Amy Porterfield's book 2 Weeks Notice back in February. 

3 - Recommending apps that I use like Kajabi, a course creation software, or Secta AI, app that creates mind blowing AI headshots for your social profiles such as LinkedIn. I also love this YouTube app that blends AI with analytics to help you improve your videos and generate ideas called Vid IQ. Usually these have 10-30% commissions, and often this is recurring if its a subscription model so some really good passive income! 

4 - Digital courses - create a video series teaching something you know, even if you are just a few steps ahead of the average person. I created the Leveraging LinkedIn course and a Nail Your Niche workshop that create sales, no physical products, people can buy from anywhere in the world, no shipping either.

5 - "Download-ables" - PDFs, checklists, templates, workbooks, roadmaps. For example I created a PDF on how to turn sales objections into opportunities. Once its created its a digital asset that can be sold over and over. I even rolled this out with a 'choose your own price' option for its launch using Kajabi!

6 - Joint ventures - because of my social following & email list, I can partner with other creators that build courses or teach, and recommend them and make a commission (affiliate ) or share profits (joint venture). In April of 2023, I partnered with my marketing coach and we launched the 2nd version of Offer Launch Blueprint and we split the revenue, then he fulfills the one on one clients and I get a commission on that as well. Its a great way for me to help my audience grow their business while also leveraging who I consider to be one of the top marketing experts in the world. 

7 - Create a subscription - for example a podcast or newsletter, once its started to grow, you can monetize it by charging a fee for premium subscribers (Patreon, Spotify & YouTube) are great examples. Last year for a limited time I opened up my Leveraging LinkedIn community to a select few individuals to test out this subscription model. I'm also planning to roll out a paid version of my podcast in due time. 

There are 3 steps to doing this:

1 - Learn to create online traffic (an audience) around a topic you love & know about on a platform. I used LinkedIn to get my start, then added other platforms later. This could be a blog

Note: creating my audience did not happen overnight, I'm 3 years in but its been the best thing I ever did!

2 - Learn to control traffic, create an email list or newsletter where you have more control over talking with your audience. Provide insane value to your subscribers, and do not always be selling. 

3 - Learn to convert traffic (traffic becomes sales). For straight passive you could do any of the stuff mentioned above. But realize, this traffic that is created can also be used to fill up your challenges, one on one clients or to sell physical products too! 

Would you like my guide '7 Ways To Create Passive Income Starting Today'? You can sign up here!