So you want to start making passive income.. The best way to do that is by building an online business that pays you money while you sleep.
In this video, I’ll be going over the best online businesses you should start in 2020. I’ve seen massive success with all of these, either in my own experience or seeing other people succeed with them so I know that they work.
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First: Let’s break down the fact that $300 a day in passive income is $100K per year.
That’s a respectable 6 figure salary in any society – but the best part is that with passive income, it becomes entirely possible and even simple to achieve this number.
$300 a day in profit = 20-40 sales per day of your online product
$300 a day in profit = 8 consulting clients/month (@ $1000-1500/month)
$300 a day in profit = 3 sales of an online course (@ $100 per course)
Every single millionaire breaks down their goals into smaller pieces, and then reverse engineers them to understand exactly what they should do to achieve this income goal.
When I first started with online business and passive income, I was struggling working at my 9-5 at a big bank in Canada, hating my job, hating my life, having to pay off $40,000 in college debt.
I came home from work one time, completely fed up, and searched up the words… “How To Make Money Online”
That’s when my journey began, and that’s what brought me to Step 1 of reaching $300 a day in passive income.
Here are the exact steps:
– This is when you wake up from the 9-5 script, you realize that you want MORE out of your life and you’re ready to do whatever it takes to achieve it.
2) Choosing Your Wealth Vehicle
– Now you must choose your passive income business or ‘wealth vehicle’.
– This can be Amazon FBA, Shopify, Consulting, personal branding etc.
3) Learning Phase
– Here you’re learning everything you can about the wealth vehicle.
– You’re watching non stop YouTube videos, investing in courses, mentorship, planning out your business strategy.
4) Trial and Error
– “If you don’t quit you can’t fail.”
– Trying and trying again until you reach success.
– You only need to WIN once.
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