The World's Most Perfect Business
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How To Turn
Into A Massive, Passive Income
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Welcome and thanks for visiting!
I'm Dave Espino and I am committed to helping you succeed with your own "How-To" video courses!
I help you leverage who you are so you can live your best life!
Why learn from me? Well, I’ve sold over $140 million of my own "How-To" video courses and related services, so I'm pretty qualified to help you with YOUR "How-To" video courses!
Hey this is Dave Espino, and today I want to talk about the best way I've found to make a passive income online. It's information products. Information products are the best way to make a passive income online, because you're providing a really good service.
You're providing information, and typically that information can be a how to video course. It can be the answers to a lot of questions, or it can be how to do something better; how to do something more efficiently, how to overcome a challenge, how to learn a new skill, how to improve their career opportunities, how to get fit, how to lose weight. All these kinds of things are things that people are searching for actively on the Internet right now. Every second that ticks by. There's 40,000 searches happening on Google.
40,000 People Search for Information Every Second!
Every single second, 40,000 searches, 40,000 searches, 40,000 searches every second. What are these people looking for? Primarily they're looking for information and if you put together a good information product, a really good resource that helps them, you're going to sell a lot of that information product.
But now the ultimate way to create an information product is through online courses. You create a video course, and you don't even have to be on video to do this. You can record your screen with a very simple, very inexpensive screen recording software tool.
How to Sell an Online Course
And you can create your course, you package that up and you provide it out into the marketplace. There's a variety of ways to do this. One is you can publish it on a marketplace website like Udemy and then have Udemy bring you students. Another, much better way is self host your course and create a sales funnel to drive traffic to your course and sell a lot of it. The self hosted way allows you to charge whatever you want for your course. The Udemy and marketplace method has you charging typically $10 or $15 or $20 bucks. You can make a lot of money the self hosted model, especially when you only get to keep 100% of your earnings.
The Method for Selling I Recommend
So I recommend the self hosted model. Create a sales funnel that drives traffic to your course that has people buy it from you. And now you can charge $47, $97, $197, $297 and $497, and even as much as $1,500 and $2,000 for a course that maybe includes a little bit of handholding from you, a little bit of group coaching and that kind of thing.
That is, in my opinion, the best way to make a passive income online because people who are searching constantly 40,000 people per second, 40,000 searches per second happening constantly. You get in front of that stream of people and you find those people that are searching for your particular information and sell it to them. You've got an incredible passive income business. If you're interested in getting started in the online course business I recently created a free Online Course Fast Start Kit which I encourage you to check out. It's free, and will walk you through everything you need to get started. You can find that kit at http://freecoursekit.com. I'll see you next time.
Welcome back, this is Dave Espino and today I'm answering a question that someone requested, and the question is “can we make money by teaching online or offering online courses? How can we make money this way since many free teaching materials can be found on the Internet?” The classic question that a lot of people ask and that is, “hey, why should I create an online course if you could find everything for free online?” Well first it presupposes that you can find everything for free online, and that's not the case.
Some of the Best Information is Hidden!
A lot of people hold their best information back so they can put it into an online course where they hold their best information back because it's proprietary, and they just wouldn't want to give it away for free. So you can't find everything for free online. Sure you can find a lot of different things online, but typically if you're looking online for information you're going to Youtube. There you're going to get two or three minute videos, little nuggets here and there, but not an entire comprehensive flowing course that goes from topic to topic to topic.
A course that takes you from knowing nothing about a topic all the way to being an advanced person in that topic.
The benefits of an online course, and why you can sell online courses even though some of that content may be available online for free is you bring your uniqueness to the course. You bring your experience to the course and you bring your credibility to the course. So the reason people pay for courses is because they believe that you can give them something that they can't find for free online. And typically that's your uniqueness and that's your credibility.
The Best Part About an Online Course is the Instructor’s Experience!
The fact that you've been doing this X number of years, the fact that you've achieved X amount of success in that career or in that field, the fact that you really know what you're talking about, that maybe you've proven that out through your Youtube videos or through other means, maybe your blog posts they have bought into you and now they want more from you and that's where the online course business thrives.
That's where it really does well for you, and that's why people will pay for online courses. So it's really kind of a misnomer to think that there's no way people will pay for my course because they could find it for free; it’s not true. I have a very comprehensive course on an ecommerce topic, and a lot of that content is stuff that even the most advanced ecommerce sellers do not know.
These are things that I've learned over the years and over years and years of trial and error, years and years of experience, even putting two or three strategies together and creating my own strategy. You know what I mean? So there's a lot of things out there that are not online because people don't want to share them. I have specific really insider strategies that I only teach in certain mentorship programs. Strategies that I will not divulge on a free video.
Remember that there are different layers of information, and a lot of people want an A to Z start to finish course. They want to be able to follow you from step 1 all the ways to step 10, and know that they're getting the best information so that's where you can make money with online courses. You don't have to worry or be concerned that there is information on your topic out there for free.
The cream rises to the top, and the people will rise to the cream of the crop when they see that you've got good information; when you've got years and years of experience and that you know what you're talking about. They will buy from you even if there is free information available out there.
If you like the online course business, you like the idea of making passive income with online courses, I just created a free Fast Start Kit to help you get started in the online course business. You can get that free kit at http://freecoursekit.com. Follow me for more content around the online course business, and I'll see you next time.
This is Dave Espino, and today I'm answering a question that somebody requested “can one make $5,000 being a fulltime Udemy trainer?” I'm going to assume that they mean $5,000 a month. The answer is yes somebody can do that, but no it's not likely for the average Udemy instructor.
The Bulk Course Method
Some Udemy instructors only publishes one course, and it's unlikely that one course will make them $5,000 a month. This is unless the topic happens to be in a very high demand topic with very little competition. It is possible, but it's not likely. So what many Udemy instructors do is they publish more than one course. They publish 2, 3, 5, 10, 15 courses and that allows them to make and stack these passive income streams one on top of another. This is the overriding thing that's going to determine your income on Udemy because so many of these things are out of your control.
The pricing is out of your control. The reviews that you get are sometimes out of your control. The at least the review system, the way it's set up the competition is out of your control. So there's a lot of things that are out of your control on Udemy, which means that the only thing you can control is creating more courses, and stacking those courses on top of each other.
But if those courses are not in a high demand search on Udemy then those courses may not make that much money either. Iit really depends on your course topic. It really depends on whether your course is in high demand or not, what the competition is, how many other people are creating courses on that same topic, and if they’ve been more established than you have been.
The Circumstances to Make $5,000 a Month From Udemy
Having said that I believe that yes, a certain small percentage of people can make $5,000 a month on Udemy. But the circumstances have to be high demand course, low competition for that course, then you've got a good opportunity. However for most Udemy instructors, and I would say probably 90% or more Udemy instructors, they're not going to get to that $5,000 mark unless they create multiple courses.
It's one of the reasons I created 51 courses on Udemy before I saw the light and I started thinking “Whoa, you know I could make a lot more money if I were to take this same course and sell it myself for a lot higher amount.” I could sell my courses for $47, $97, $297, $497, even some courses for $1,497 with a little bit of group coaching and that kind of thing.
I could do a lot better on a self hosted plan than I could on a marketplace plan like Udemy. Don't get me wrong, I love Udemy. It's done really well for me. Its paid me really well for the last five years, and I've made a lot of money on Udemy.
That's just one kind of atmosphere, but there's a whole nother environment out there.
There's a whole nother world out there where by simply self hosting your course, charging what you want, having no competition, and creating a sales funnel to drive traffic to that course, you can make at least 5 to 10 times more than you would on Udemy or other similar marketplaces. I hope you enjoyed this article, and I'll see you next time.
Welcome back, this is Dave Espino and today I want to talk about a problem I hear a lot; "How can I market my courses better?” This is something a lot of online course instructors (especially Udemy instructors) are curious about.
Here's the question I've got to ask you at the very beginning of this; do you want your marketing efforts to go toward your Udemy courses, the courses on the Udemy marketplace, or would you rather have those marketing efforts applied to somewhere where you get 100% of the revenue and you have full control over your pricing? In other words, you can charge a lot more for your courses. Then you get on Udemy, and for some reason Udemy is just this very highly discounted marketplace. It relies on high volume and low ticket prices.
What Do You Want Out of the Online Course Business?
So at the very beginning of this answer, I've got to ask you would you really like to get the most out of your course business? And if that's the case and if you're planning to do marketing for your courses, then why not have them on your own self hosted platform where you make a 100% of the revenue, you don't share 50% or 75% of the revenue with a marketplace like you do on Udemy and some of these other marketplace websites. So I like to let Udemy do what it does with my Udemy courses. Udemy does the marketing and they do a pretty good job of it, but the prices on Udemy are so low that it doesn't really make sense for me to invest time or money in marketing my courses that are on you.
It makes a lot more sense if I'm going to be doing some marketing to market those courses on my own self hosted platform such as Thinkific or Teachable or some other self hosted platform. A place where I could charge a lot more money for my courses; $47, $97, $197. And that allows me some leeway in terms of how much money I want to pay out in advertising in order to make sales. Of those $47, $97 or $197 courses.
See when you're selling courses for $10 or $15 or $20 like they do on Udemy, it doesn't give you a whole lot of leeway to do marketing. There are ways to do that. There are ways to market your courses on Udemy if you've pretty much settled on this as the only online course business you’re going to have.
Where to Market your Course
In that case, there are some ways to do it. Basically what you've got to do is find out where your prime target students and where they're hanging out on the internet already. They may be hanging out in certain Facebook groups, or certain online forums, or they may be hanging out on certain websites. Find those locations where your students are already hanging out on the Internet and run some ads there. Buy some advertising if it's a website. If it's a Facebook group, offer the Facebook group administrator some money to run some ads or to do a giveaway of your course or something along those lines. If it's a message forum or some kind of an online forum, find out if they have an advertising offers and find out if you can run ads there.
Then of course there's also a free ways to do it where you have some kind of a lead magnet, some kind of a Freebie that introduces people to your course. And that Freebie gives them some good value in advance. And by giving them some good value in advance, in order to get the Freebie, they give you their name and email address. Now you've got an email that you can follow up with and stay in touch with. And over time you warm these people up to buying your course.
So there are tried and true and proven ways to market your online courses, but again I've got to come back to the core question if you're going to do this then why not market your courses? I hope you enjoyed this article, and I'll see next time.
Welcome back, this is Dave Espino and today I'd like to cover a question I heard “is passive income a pipe dream?” I can tell you categorically passive income is not a pipe dream, but the types of people that think it might be a pipe dream are people who are not familiar with the Internet marketing world. Things like what exists out there, and how passive income is very real for many of us.
What is Passive Income?
Let me kind of share what passive income is and then how you get passive income, and then I'll share with you my favorite way to generate a passive income. So what is passive income? Number one, it's really a situation where you do something once and then you get paid over and over and over again. So you set up a system where you've got a product offer and you have a way to drive traffic to that product offer on an ongoing basis.
Because that traffic is driven on an ongoing basis and you have this product for sale on the Internet, especially if it's a digital product, then it's hands free. From that point on, that traffic keeps coming. The people keep buying and everything is automated as much as possible.
Some Examples of Passive Income Streams
Now, there are a variety of ways to set this up. One of the easiest ways to set it up is through a print on demand marketplace, like Redbubble.com or Merch by Amazon.com. In either of these situations you upload tee shirt designs or other types of designs. And then you get those designs offered on tee shirts, on mugs, on stickers, on posters, on clocks; all kinds of things that these marketplaces offer them on and they already have traffic. They already have people searching out all kinds of different products.
When they find your product, they buy it and you make a royalty. I.e you make passive income.
Now the merchant by Amazon program is limited only to tee shirts. And recently they added something called pop sockets, which are the little extra things that you can stick on your phone that help you to hold your phone. Who knows, they may be coming out with more things down the road, but that's one way to make an ongoing passive income.
Another way to make an ongoing passive income is through drop shipping. I had this situation for a long time where I was selling display cases on Ebay, and every time somebody would buy the display case they would pay me the money via paypal. I would send that order to my drop shipper and they would ship out the display case, so that's a form of kind of mild passive income. All I had to do was send one email, really one payment to the manufacturer, and then they would do the shipping.
That's another form of passive income, although not quite as passive. You do have to do a little bit of work once it's set up.
Another form of passive income is publishing an ebook on the kindle marketplace or its counterpart, a paperback book on Amazon. When you do that and people buy your books or your ebooks, you make a royalty and that's an ongoing passive income. Now for most people, it's not a great passive income. It doesn't make you a huge amount of money, but there are some people who figured out ways to publish high demand books and even get those books written for them using their account on kindle. The people who have figured out strategies sell a ton of books and make some really good money, but it's not quite as a sure thing as a lot of other things that are out there.
My Favorite Way to Make a Passive Income
My favorite way to make a passive income is online courses. You create an online course about a topic that people want to learn about, they want to get better at, they want to do faster, they want to solve a problem, or they just want to learn something. You put it in front of that target traffic audience and you start selling that course, and it starts making you an ongoing passive income.
So that's where the bulk of my income comes from. I love the online course business, and if you're interested in learning more I just finished creating a free Fast Start Kit. It'll walk you through tips, tricks, and everything you need to get started in the world of online courses. You can find my free kit at http://freecoursekit.com. I look forward to seeing you next time.
This is Dave Espino, and I'm answering a question I heard recently which is “what is the fastest and safest way to earn passive income?” Now, the word safest implies that you're looking for some kind of an investment to invest your money to generate passive income.
Now, the passive income that I'm talking about here in this article is passive income that you create where you do some work once, but then it pays you over and over and over again. So my answer to what is the fastest and safest way to earn a passive income is to create an online video course.
But Why Online Courses?
When you create a video course that explains how to do something, how to do something better, or quicker, or more efficiently, how to overcome a challenge, how to learn a basic skill; that is a product that can be sold over and over and over again.
And it's a digital product, which means that you get to keep 100% of the money. In most other products, especially physical products, they have a cost to manufacture the product, a cost to ship it, a cost to have it run through the various distribution channels and all that.
With a digital product, you keep 100% of the money.
How is it the Fastest?
Now the reason it's the fastest way to make a passive income is because you set up this online course once, and then you set up an automated traffic system to drive traffic to that course, and now you've got a passive income. It's a very simple process, and it's also a very simple business to understand.
That's how, in my opinion, you're going to get the fastest and safest form of passive income. I currently make a pretty good passive income through online courses, so if you're interested in learning more about the online course business be sure to get my free my Fast Start Guide. It’s a guide that will give you tips and tricks and help you jump start your own course marketing business. You can find my free Fast Start Guide at http://freecoursekit.com, so be sure to check it out. I look forward to seeing you next time.
Hey this is Dave Espino, the InfoBoss, and today I wanted to share the weirdest way I’ve seen or experienced to make passive income. I make passive income in a variety of different ways, so I'm just going to list them out really quickly.
My Passive Income Sources
One is through print on demand products on the Internet. One is through the merch by Amazon program, which is Amazon's print on demand tee shirt business. Another is through the Kindle marketplace selling my ebooks as well as the paperback versions of those books on Amazon. Another way I make passive income is through affiliate marketing and email marketing, and my favorite way that I make passive income is through online courses creating online courses that all kinds of people buy and it creates a massive passive income for me. That's my favorite and my biggest form of passive income.
But What is the Weirdest Way I Make Passive Income?
Well, the weirdest way is occasionally I'll get this payment notification in my email and it says I made 31 cents. And I think it's funny because it's selling a sticker. Everytime I sell these stickers it makes me 31 cents, and I do that on the Redbubble.com website. So with Redbubble, you can upload a design and then have it available in different formats. Like you could have it available in a mug like a coffee mug. You can have it available in stickers, and you can also have it available in t shirts of course, and notebooks.
Now these are just my branded merchandise, so I use Redbubble for that, but you can create basically designs of anything and have them available. They have all these types of products as well as other products including full wall tapestries, posters, and different types of clothing. It's pretty amazing what you can do with just one design.
Now when you do that and you list a design that's popular, then people will find it on the Redbubble, and they'll buy it from you. That creates a passive income because they already have the traffic you provide the products people buy from you, you make a royalty.
But anyway, the weirdest passive income I make is at 31 cent royalty whenever I sell these particular stickers on Redbubble. I thought that was funny. If you're interested in passive income primarily through online courses, which is my biggest source of passive income, be sure to follow my content and get my free Fast Start Guide. It’s a guide that will give you tips and tricks and help you jump start your own course marketing business. You can find my free Fast Start Guide at http://freecoursekit.com, so be sure to check it out. I look forward to seeing you next time.