If you want to know the power of having multiple passive income streams, then this article is for you. So in this article we are going to reveal the 5 passive income ideas, which every rich people have been using to make more than a $1000 in 24 hours.

But, here’s a warning, if you think this is going to be easy then please stop reading this article right now. If it was easy to make a $1000 every 24 hours then everyone would be doing it however, we can tell you this if you’re prepared to put in the work required to set up these income streams then it’s entirely possible for you.

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Idea-01:-Email Newsletter

What if we told you, could press send on an email and earn $1000 in a couple of seconds. This might sound impossible however people are already doing it. A popular email newsletter called the hustle was actually sold for between 25 to 30 million dollars.

The best part about starting an email newsletter is, it’s very low barrier to entry this makes it a lot easier than any other type of content creation as all you need is a laptop or even a phone.

It’s also mostly free to start as most platforms allow you to grow to a thousand subscribers before charging you a single penny.

There’s actually a popular saying that you only need a thousand true fans to become a millionaire this kind of loyalty is what email newsletters are great for building.

You should aim to give more than you get, with a newsletter it’s so important to offer your audience a huge amount of free value then in the future if you do want to ask them to do you a favor they’ll be happy to help you out.

Entertain Your Subscribers

• Some company sends out a long email every week to keep everyone up to date with what’s going on however, it was a bit of a running joke in the office that no one read it, that’s why it’s so important to entertain.
• As people come for the content but stay because of your entertainment value. If you don’t know what to write about, then you could just curate things that you find interesting throughout the week and share them with your subscribers.
• For example:- Tim Ferriss does with his 5 bullet Friday newsletter. He has over 2 million fans, makes millions from sponsorships and affiliates.

Affiliate links are a great way to instantly make money if you’re growing your business because if you want to recommend a product to your audience then you’ll get a kickback if anyone chooses to buy using your link.

Whatever you choose to write about it’s very important to make your subscribers a promise of both quality and reliability you need to convince them that it’s worth their time.

The main benefit of an email newsletter is that you’re able to own your audience. This is very rare as on other platforms like YouTube, We are not able to contact subscribers directly that’s what makes newsletters a great way to make passive income and who knows you may end up selling for 75 million dollars like morning brew an email newsletter Austin reeve started in his college dorm.

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Idea-02:-Collecting Royalties

• Have you ever wondered why so many music artists try and get a Christmas number one? Well, it’s all about the royalties.
• Noddy Holder lead singer of the 1970s glam rock band slide, once said that his song merry Christmas everybody is his pension and he wasn’t joking that one song will pay him a decent living in royalties for the rest of his life without him having to lift a single finger.
• If you can’t sing, then the good news is it’s not just musicians who can collect royalties. Authors, script writers, inventors and others benefit from the resale of their products and ideas.
• We going to be honest with you this requires a lot of upfront work. However, once you’ve created something then you can continue to get paid for it forever to be honest you are taking a bit of a risk because if you don’t get enough people to see your creation or use your invention then your time would go to waste.
• To minimize this risk it’s very important to identify a proven demand. Be on the lookout for something scarce or not being done very well that you can improve upon.

YouTube Royalties

• For Example: – If you turned on the adverts on your YouTube channel then YouTube would promote your videos and pays a 100 to 1000 dollars in royalties.
• Even if you don’t fancy making videos then you could team up with someone that does and write their scripts in return for a split of the profits.
• Surprisingly there are also ways you can benefit from royalties without actually creating anything. This is because in order to gain money to fund projects it’s very common for creators to sell their royalties or a percentage of them.
• MrBeast has used a service like this (Royalties). They’ve already spent 200 million dollars on royalties which shows there’s a lot of potential for you to make at least a 1000 dollars per day in passive income.

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Idea-03:-Digital Products

Selling physical products using the internet or without internet is time consuming and it also cost thousands of dollars in warehouse space, staff wages and packing materials.

Imagine making 2 million dollars in 10 minutes all from the comfort of your sitting room. Now digital products can’t be held, tasted or touched, but everyone consumes them now more than ever. They also come with a whole host of benefits that make them perfect for making passive income.

Benefits Of Digital Products

• Firstly, as they aren’t physical, it means you don’t have to pay for storage and they never run out of stock.
• Secondly, your profit margins are very high, as the cost of creating the digital product only has to be paid once, and then you have it forever.
• Thirdly, you don’t have to worry about shipping nightmares or paying people to send your items for you.

So just remember when you’re creating your digital product, just make sure that you’re making something that’s truly valuable. Sometimes the easiest way to improve an idea is to do what’s called a scrappy launch.

The goal is to get something out into the world as soon as possible, so you can put your idea to the test and improve from there.

You can sell templates, courses, audio books, spreadsheets and even licenses with a quality product, you’d be making a $1000 a day in no time.

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Idea-04:-Be The Middle Man

• We recently interviewed with a man who made 10 million dollars at the age of 21 by selling items online, but the funny thing is he never actually held any of the products in his hands.
• Since the pandemic, online business has surged beyond belief and by the end of 2022, these sales will likely reach over 5 trillion dollars.
• There truly is an abundance of cash out there ready to be collected and with the right strategy you don’t even have to be the one sending the parcels or doing the work.

Drop shipping and drop servicing is selling physical products or services on the internet without ever stocking the product yourself. This allows you to start your very own business with minimal cost as there’s no staff, storage or inventory fees.

Drop Shipping And Drop Servicing

• Just think about it the people buying the products and services you’re advertising wouldn’t have known that they ever wanted the product without your help.
• This is why your skill set is valuable to both the customer and also the supplier, you’re the middleman.
• All you need to do is find a supplier that sells popular winning products or has a range that excites you and build a store around it.
• Every time a customer orders from you, all you need to do is place an order with the supplier and have it shipped directly to their address.
• You can also do this with services instead of products like selling logos. All you’d have to do is find a customer, get a designer and instruct them to make it to your client specification for less than you charged.
• If you can buy a product for $5 and sell it for $20, you’re making a call $15 profit every single sale. Of course there are other expenses like advertising costs and returns, but you get the idea.

As you grow your business, you can generate higher profits by introducing new products and achieve the almighty $1000 a day.

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Idea-05:-Launching A Membership

• At the height of Andrew Tate’s popularity, he had more than 108,000 members paying him $49 per month. That means he was making an eye watering 5.3 million dollars every single month, all from a simple membership site.
• We think this example shows you that even if you were able to get a fraction of Andrew Tate’s success, then this can be a very lucrative way to make a lot of passive income.
• In our opinion this type of income is better than a lot of others on the list, as it’s very predictable. You can easily tell how much will be coming in every month as long as you retain your members.
• The sidemen have even taken notice of this passive income stream and launched side plus. They’re charging about 10 dollars per month and probably making millions in reliable passive income.
• The beauty of a membership is that there’s no limit to how many members you can acquire. It’s easy to scale up without increasing your workload.
• In order to create a successful membership you need to have some kind of niche and value that you’re providing, then host it on the platform that your audience uses the most. The best we have found are facebook and discord.
• We have seen golf, swimming, business and cooking memberships absolutely smashing it and making far more than a $1000 every 24 hours.

These are unpredictable times though with the growing fear of a coming recession, if you want to know what you need to do with your money, right now then we recommend to revisit our website to read other useful information for your financial success as well as to improve your personal life.