The Introverted Influencer

Making Money While I Sleep- The Basics of Passive Income

February 11, 2022 Erica Van Slyke Season 1 Episode 2
The Introverted Influencer
Making Money While I Sleep- The Basics of Passive Income
Show Notes Transcript

Want to know how to build a six-figure passive income stream online? In this week's episode,  I am breaking down the basics of passive income as it relates to influencing, blogging or even the digital monetization of a hobby or side-hustle.

Think of this as the beginner's guide to monetizing your passion without the need for social media. 

Warning: If you have little ones nearby, you may want to listen with headphones. I am a potty-mouth who doesn't believe in censorship. 

If you found this episode helpful, it would mean so much to me if you could give this show a five-star rating and/or screenshot this episode and tag me in your Instagram story (@designingvibes).

Follow and tag me on Instagram at : https://www.instagram.com/designingvibes/

Check out my blog: https://designingvibes.com/

Contact me: info@introvertedinfluence.com

Speaker 1:

Welcome to the introverted influencer podcast. I'm your host Erica van. Like my soul's mission on this planet is to help fellow introverts grow their online influence and estate , a feminine flow and ease while battling the WOS of depression, anxiety, and even mom guilt. I've somehow managed to build a six figure blog without the use of social media and without sacrificing my mental health, if I can do it, you can too . Hello. Welcome back to episode two of the introverted influencer podcast. So in last week's episode, I mentioned that I have managed to make six figures doing what I love and only working eight hours a week at this point. And I've already had so many of you privately reach out to me, completely intrigued as to how I do it. Well, essentially I make money in my sleep and that's because my business model is based on the concept of passive income. So what is passive income? You may ask? Well, according to Wikipedia, passive income is defined as the following passive income is income that requires minimal labor to earn and maintain. Now, while there are multiple types of passive income streams, like investment portfolios, rental properties today, I'm going to be discussing the two main ways. My blog generates passive income and passive income is responsible for 80% of my total earnings. But before I get into those details, I do just wanna present a simple mantra so that you can internalize this concept in a way that I think is unique to you or your own industry or your own passions. So here it is , create it once, make money on it forever. Here's it again, create it once, make money on it forever. Now, while I never reached my dreams of becoming a rock star , I do get paid in royalties like one, and here are the two main ways. Number one advertisements, and you don't have to be with an advertising agency. If you have your own self hosted website, you can start off with, with Google. You're not gonna make a ton that way, but once you get to a certain amount of page views like I did, and I think it took me about a year. I got on with an ad management company called media vine, and they are freaking incredible. Um, so with media vine, they give me a little snippet of web code and I have it on my website so that I don't have to handle advertisers at all. Media vine gives me a monthly check and that's all I have to do is basically get I eyeballs on my site and I get paid for it. So that's the first way. The second way I make money passively is through affiliate income. So affiliate more marketing and simple terms is when, when someone refers to a product on their platform, mine would be my blog. I have affiliate links. And if you click on that affiliate link to the product that I refer to and you actually buy it, or you buy anything through that link, I get a commission off that. So I get a percentage of that fill . And currently in my business, those are the only two ways I am generating passive income. But for those of you who are not interested , sit in blogging, there are a few other ways. So I would think of maybe an ebook or maybe a prerecorded course. And so that is back to that idea, create it once, make money on it forever. And essentially you would need to yourself as an expert in your field, whatever that is, but that is another possible means of passive income. So in a nutshell, I do not make money until a person actually visits my website. And because of this, I have focus my marketing efforts on page few activities. So if it doesn't result in actual eyeballs on my site, I refuse to waste my time. I hope that was helpful explaining what passive income is as it really relates to being an influencer or just being in the online world of entrepreneurship in future episodes. I plan on breaking all this down into more action steps, but today I really just wanted to explain how I make money in my sleep. So I hope you found this episode helpful and it would mean so freaking much to me. If you could give this podcast a five star review and share it with a friend or on social media , peace out , y'all .