In the latest 365 Days to Online Passive Income Videos 130-146 summary, you’ll find out if I made any income during the month of February, 2018. As well, you’ll find out what I’m doing wrong and what I’m doing right when it comes to undertaking this mission of making sustainable online passive income.
My goal is to make $10,000 purely from online passive income by December 31, 2018. At the moment, it is looking bleak because I have hardly made any income. But, things can change very fast and there’s too many uncertainties to say it’s impossible for my goal to happen.
There is one thing for certain; though, is that it is possible to make income online.
365 Days to Online Passive Income Videos 130-146 income report:
Teachable courses – $106.46 CAD
Bluehost – $40.39 CAD
Jetpack WordPress – $49.00 CAD
Net income for February 2018
- $17.07 CAD
What I learned in February
What I learned about this whole online passive income project is that being motivated to work consistently is very difficult. This is especially true when you have a job and feel drained after working for someone else.
On top of that, I also spend time with my girlfriend.
Working on the online passive income project was much easier when I first returned to Canada after travelling around the world for 380 days. It was much easier because I still had that extra motivation after returning from such an epic life experience. Also, I was only working once a week the first two months after coming back to Canada. This meant that I had plenty of time to work on my online passive income project.
However, as time passed, my employers gave me more shifts and I’m now working over 20 hours a week. Despite only working part-time, I can feel the difference between working once a week and working 20 hours a week. I would need 1-2 days to recharge and relax before I can focus my mind on building online courses.
Mistakes and obstacles during 365 Days to Online Passive Income Videos 130-146
One of the biggest mistake I made is underestimating the time it takes to finish one Udemy course. If you don’t know what Udemy is, it’s an online e-learning platform where you can sell courses on topics of your interest. Building online course on Udemy is my current project.
One of the biggest reasons I deviated from working on my Teachable courses is because I need to get my time back. Working over 20 hours a week sucks and I need more time and head space to focus on marketing my Teachable courses.
Working on marketing takes time, effort, and lots of thinking. I can’t think properly if I am drained from going to work. It’s like having a job destroys any creativity you have in you.
So, the solution I came up with is Udemy. With Udemy, they will do all the marketing for you. Essentially, all you have to do is film yourself teaching a course on your chosen topic and you can start selling it on Udemy.
Even if Udemy takes 50-75% of your revenue, it’s still good because they do all the marketing for you and it’s completely hands off. This makes Udemy a true passive income source.
My goal is to crank out 15 Udemy courses by June 2018. If all goes well, I can potentially be making $1000-$2000 a month on online passive income sometime in late 2018 (assuming everything goes well).
Since starting my side project on Udemy courses, I’ve already completed one course which I’ve uploaded and ready to sell. I’m still trying to figure out how Udemy will market the course but hopefully, I will see some result in the near future. 14 courses to go!
Using Udemy to validate your idea
Another great thing about Udemy is it validates your idea. If your online course sells quite a bit, this means there’s a demand for your topic. You can then dig deeper by making other courses and sell it on other e-learning platforms like Udemy. Afterwards, you will need to do extensive marketing on YouTube to drive traffic to your Teachable course.
My goal for March 2018
My goal for March 2018 is to spend 40 hours working on completing Udemy courses. By the end of March, I want three more Udemy course completed.
I will also be teaming up with the blog that I used to write for and we will be doing our first webinar together. Hopefully it goes well because I’d really like to do more webinars in the future.
365 Days to Online Passive Income Videos 130-146