I’ve been making money online now for over 5 years, full-time.
I can gratefully say that I haven’t touched a regular job at all in that time frame.
When people find out about this, I often get the question: “So, what’s THE best way to make money online?”
Well, the answer to this huge question depends on your personal goals, really.
However, most people, if they were being honest with themselves, would like to have an online business that:
1: Isn’t too expensive to get started with.
2: Has a relatively simple business model.
And 3: Generates one or more PASSIVE income streams; preferably ones that keep going for a long time after they’ve been set up.
Sounds pretty amazing, huh?
But is it actually possible to achieve?
Such passive income generators DO exist, and I’ve personally tried a bunch of them.
However, one method stands above all the rest.
In this article, I’ll share that method with you, plus exactly WHY it’s such a great opportunity.
But first, I want to quickly tell you about the other strategies I’ve used.
Making Money Online – What I’ve Tried
Through the years, I’ve tried many different methods to make money online.
Naturally, being a complete newbie in business, I experienced some failures along the way.
That being said, I did get some results with each of the methods I tried.
The first thing I did was self publishing on Amazon.
My Experience with Self-Publishing on Amazon
This was the business model that got me out of my 9-5 and sustained me for quite some time.
Actually, it STILL brings in some passive income to this day; around $1500 to $2000 (pretty nice!).
This is despite not having touched it for one-and-a-half years now.
Here are the pros and cons of self-publishing on Amazon:
➤ Moderate learning curve
Like most other businesses, the basic process takes some willpower to learn properly.
However, it’s not the most difficult thing out there, by far.
Even if you’re completely new to online business, you can learn Kindle publishing within a month or two if you’re focused enough.
➤ Easy to replicate success (up to a point)
Once you get the model down it’s fairly simple to scale up with predictable results.
Unless you start getting sloppy with your books or keyword research, you won’t suddenly start falling off a cliff profits-wise.
➤ Potential long-term passive income
Your overall income can drop a bit during your first months away from the business.
Still, if you manage to get some books highly-ranked with good reviews, they can give you money for many months, if not years, after the publishing date.
Personally, I have a handful of books from 2018- and 19 that still make me hundreds each month.
➤ Chained to Amazon
There’s no way around it, you are 100% dependent on, and at the mercy of, a third party (Amazon).
If they decide to de-list your books or ban your publisher account and POOF, there goes all your income, just like that!
Not an ideal position to be in, to say the least, even if you’re making good money from it.
➤ Really hard to grow big
Most books drop off after a few months after publishing.
Because of this, it’s very hard to stack your income beyond a certain point.
For me, it was the $5k-a-month mark.
I started feeling like I was on a treadmill; only keeping above the $4k-a-month mark if I published new books on a regular basis.
➤ Outsourcing can be frustrating
As you scale up, you’ll find it more and more difficult to find new freelancers to maximize the quality of your books.
For example, one author that’s great at writing in a financial niche will probably not write an A+ book in a gardening niche.
To expand my income with publishing I had to keep on making new job postings, look through resumes, interview, and hire new freelancers.
My Experience with Affiliate Marketing + Paid Traffic
The second thing I did to make money online was affiliate marketing with paid traffic (mostly Facebook ads).
The pros and cons of affiliate marketing with paid traffic:
➤ Very quick results
Whether your campaigns are doing well or not, you’ll see action pretty quickly.
Just make ready the ad or ads, a landing page with a lead magnet or other incentive, and pay for the traffic.
After a day or two, you’ll likely see some sales, depending on your spending budget.
Even if the profits are small in the beginning, seeing such fast results will boost your motivation.
➤ Easy to understand
Although the details will take some time to master, the model is quite easy to grasp and get started with.
You can of course get really complex with all kinds of tracking and analysis.
However, in the beginning, you can turn a profit with just the basics in place.
➤ No immediate need to outsource
For me this meant getting a break from having to find, vet, hire, and manage freelancers; whether that was on Upwork.com or with a writing company.
It felt good to be earning money completely solo for a change.
➤ Things could take a turn for the worse relatively quickly
A campaign that was turning a profit one day could start running into the negative the next week.
Sometimes, you’ll be unable to return a campaign to a profitable state.
Then, you’ll have to either freeze or remove it and then create a new one. In other words, stability can be a problem.
➤ It requires daily attention
Often times I had to check in with, and tweak the numbers of, the campaigns several times a day.
With self-publishing, I was used to having the freedom to take days or even weeks off whenever I wanted to.
And if the income dropped it was always slowly and mostly predictable.
➤ You don’t get the feeling of building something that’s yours
When I focused on ad campaigns for affiliate marketing, I didn’t feel like I was growing something bigger over time.
Compared to Kindle, it felt more like a job; a job with a lot more freedom than most people have, but still kind of like a job (which I don’t like).
On top of these two main income sources, I also dabbled in:
- Affiliate marketing on Youtube
- Making Adsense money on Youtube
- Sub-niche e-commerce stores
Finally, however, I discovered the number one method to make passive income online…
The Best Way to Make Passive Income Online
Building money-making websites.
➤ It’s all yours
Kindle publishing can be wiped out by Amazon, Facebook can terminate your ads account, and Youtube can demonetize or ban your channel.
With a website, however, YOU are the owner.
Sure, in extreme cases Google can un-list a site from their search and a web host can refuse to supply hosting services.
However, that’s A: super rare and B: you’d still have your website, just in a temporarily-reduced state.
➤ Steady, stackable income
This is the biggest one for me.
The feeling you get seeing your web traffic, user metrics, and monthly income grow over time is unrivaled online.
If you’ve built your site on a solid foundation, you’re very unlikely to see any sudden, major drops in your progress.
As you keep pushing out high-quality, keyword-researched content, you’ll see a continuous growth of your passive income streams.
Combine this with the fact that sites usually do better in search as they age, and you really get the feeling that you’re building something long-term.
Once you’ve created one successful money-making website, you can do it again, and again, and again.
This enables you to build 2, 4, 6 or more separate, passive, income streams.
So, if one of your sites starts doing badly for some reason, or it suffers from technical problems or even a hacking attack, you’re still raking in money from your other sites.
This also adds to the feeling of building something big over time, which again, is, in my opinion, unrivaled when it comes to online business.
In many ways, it feels like you’re planting and cultivating money-growing trees. Once you get the hang of it, the business model feels steady, safe, and extremely rewarding.
➤ Takes longer to see results
This is the number one reason why most people overlook money sites when thinking about starting an online business.
They see e-commerce and ad campaign gurus talking about making money in a couple of months.
Then, when they hear that fresh websites can take half a year before they even start making money, they tune out.
Understandable but, again, in the long-term, websites are the king.
If you can push through the boring, grindy starting process, you’ll get to the promised land of steady gains and long-term, passive income.
➤ Higher volume of work (until you can afford to outsource)
To really succeed with websites, it’s no secret that you’ll have to push out a lot of content if you want life-changing results.
And I mean A LOT; like hundreds of articles.
If you don’t have much money to invest in outsourcing, this will be one hell of a grind, especially in the beginning.
So, you really need to keep your eyes on the prize (that is, your vision of success and freedom) at all times, or else you WILL give up along the way, like most people do.
That’s the reason I close every video with that statement, by the way; it’s ABSOLUTELY VITAL if you want long-term, life-changing success.
As you can see, money-making websites have MAJOR pros that allow you to make some of, if not THE, most stackable, long-term, passive income online.
At the same time, the cons are rough enough to keep most of your competition at bay.
If you can push through the high work volume and the slow-paced starting phase, you can reap amazing rewards that few other business models can offer you.