The American Dream Revival Podcast with Hayley & Doug

Ep. 18: 5 LEGIT Passive Income Ideas That are NOT Stocks or Real Estate

• Hayley & Doug Johnson • Season 1 • Episode 18

Share episode

As a family of 5 who work exclusively online, we've tried several online passive income ideas and these are by far our top 5!

This week is the last week to sign up for ICA, our program that teaches you how to start, launch, and scale your first online course. Get more information if you're looking to be coached by us here: https://digitalincomefamily.com/ICA-SALES-PAGE-2

How to create a full time income from online course free masterclass here: https://digitalincomefamily.com/ica-masterclass-registration

Here's our Podcast Gear!
https://kit.co/dougdoesdigital/youtube-setup

Get your 30 day free trial with Kajabi here! https://app.kajabi.com/r/DZWShSJJ/t/ohrlolry

Hayley Johnson:

Hey guys, and welcome back to the Digital Income family podcast. I don't think there's the before digital income family I

Doug Johnson:

don't know I kind of just hang around there somewhere. But

Hayley Johnson:

today I wanted to give a couple quick announcements with Doug obviously about you know, the things that we've we're changing with the business you guys knew know from last week that

Doug Johnson:

like, that's the right word.

Hayley Johnson:

But I haven't seen my name is it's so long and it's like the only handle whatever. Okay, so now it's digital. Longer. It is.

Doug Johnson:

I don't know if as long as we're gonna count, we're gonna Yeah,

Hayley Johnson:

so anyways, it's, well, yeah, now I ended up but Okay, so now it's digital income family. If you didn't see the last podcast episode that Doug and I are doing together, we're talking

Doug Johnson:

are tying the scenes the real life, our kids who are sitting over there literally behind right now

Hayley Johnson:

looking at us, like smiling. So we work and live with our kids. And it's the best. Okay, so anyways, it sounds the worst. But actually, it's really good, because we spend most of the just better for the algorithm, I'm just going to be frank and you guys will get I mean, you'll you'll get some notes from this for your own business, if you're trying to grow on social media, videos for the first time on that channel in like a year. So we're gonna be uploading like a longer version to the podcast, with more like banter, I guess, between me and Doug. And so it'll be more

Doug Johnson:

So the next update that we have for you guys is we're actually in the middle, like in the thick of the latest launch of influencer course accelerator. And there's actually a ton of then some other really cool stuff. You guys can find all the information for that around somewhere on the screen. Wherever you're listening to whether it's iTunes or Spotify or something, there will

Hayley Johnson:

Yeah, and really quickly. I'm not I promise, this whole podcast is not like, you know, whatever you an ad for our thing, but it's just a couple seconds ago, someone last week was money, I don't feel like I'm good at anything like whatever. Okay, so the reason why you should enroll now versus waiting whenever a year from now to start this passive income stream semi passive, and take it super seriously. But this time, we decided to try it because we wanted people to give people an option that don't have the money to get in now to I know it's cheesy, but like straight up investments a lot, but you guys, you get so much with this program, you get 12 months of coaching in the group, Doug and I are in there every single day. Okay, if you have a question on your YouTube

Doug Johnson:

work, like we cover all the tech everything is in there there. I mean, let me try to put this into perspective with you for you guys. And obviously everything is perspective, okay, like

Hayley Johnson:

profit and our students are doing it. I just got some girl the other day not to make like really harp on this, I promise. But I say I won't, but here we are. Okay, so just just I think

Doug Johnson:

zero testimonials. 400 followers, and she's selling them for $1,000. Yeah,

Hayley Johnson:

and she got four, that's $4,000. She already made her money back like times a lot because she got just the course last time. So you don't even necessarily need the coaching to get mastermind? I've never been in one like, is it something I need because we have two tiers we have and you guys can click the the sales page just to be transparent, down below wherever you're resources. And then the second tier is 6000. So it's double, but it's our mastermind. So this is where we literally talk to you every single week for as long as you need in a group.

Doug Johnson:

So if you need and by Haley means by as long as you need us, like, however long the calls go, yeah. And so basically, every week, you'll be on a call with either Haley or myself. And you're there with the mastermind. Okay, the mastermind is not just personalized help personalized coaching, but you're also there with other individuals, and you're surrounding yourself with people

Hayley Johnson:

people that have no time just like you think you don't you know what I mean? So, the other thing that the last thing I wanted to mention before we get into today's podcast is for this$3,000, or 2997, tier, you're also going to get one week free just to test out the mastermind. So you're gonna get to join a call to see how it is. And you don't have to upgrade obviously, at all, bottom tier, we've never done that. And I don't think we're gonna do it again.

Doug Johnson:

And just to make it fair, so anybody who does enroll in the mastermind, rather than just getting like one extra free call or something like that, we're actually gonna give you an guys. So you guys can get a lot of results. But to be honest, I don't know if this is something that we're gonna keep doing. Yeah,

Hayley Johnson:

we'll see we test things out every time. But anyways, yeah, let's go ahead and get into the Podcast. Today, we're gonna talk about the top five passive income streams for 2022 that

Doug Johnson:

we're only going to be recommending things that we actually have experience with. Yeah, and it's not going to be like, you know, those random side hustle things. These are like

Hayley Johnson:

This isn't gonna be like medical coding, or what else people do people recommend, like translation or something that's actually not passive. But yeah, we're not going to be streams enabled our family with three young kids working around like two to three hours a day to last month, which we do income reports on the channel, like all the time, but last month, we made

Doug Johnson:

it. Okay, so let's get something out of the way. First, when we talk about our passive income and the ideas that we have, we're excluding a couple of things. And those three things are

Hayley Johnson:

And there are people everywhere that says you don't need money to get started in real estate and you don't to a certain extent, but you won't be making life changing money without

Doug Johnson:

so before you actually go jump into those, you actually do need to earn some kind of income first to make those things truly passive. So that is what we're gonna be talking about today,

Hayley Johnson:

it's, well not even real estate, so you gotta manage it, but I guess the closest would be like real estate and stocks but these are still really amazing income streams. Like we

Doug Johnson:

Alright, so the first one that we're gonna talk about here are digital products and coaching now when I say digital products, don't kind of like jump out of here and things we're gonna and then coaching and kind of like that avenue. So we actually do this. This is a primarily what we do for our business. And there's a lot of different ways for you to be able to break those two out.

Hayley Johnson:

And so for example, we've really only dove like headfirst into digital products just within the last two years, we went from making heart like nothing, obviously, to over sometimes six on. There's so many different options. So like, how could you break out this business? Because I think a lot of people assume that it has to be like, I don't know, a $30 ebook, or workbook or you

Doug Johnson:

Yeah, absolutely. So we're gonna break this down, because we could do like an entire podcast, an entire video on how these things work. But let's just start with like courses, for is that you aren't consistently sitting there like teaching a class over and over and over and over again. Okay, so that's like, where the passive side comes in, it comes into play.

Hayley Johnson:

So a lot of people assume that you have to be some mega expert, you have to be certified, or you have to have some master's degree in whatever you're teaching. But that is the

Doug Johnson:

Yeah, absolutely. And so all you really need to do is you just need to be able to sell basically the position that you're in to somebody that wants to be in that position. So all you

Hayley Johnson:

So like for instance, let's say that you're a decent cook, but like you don't have some culinary degree, you've never cooked in a restaurant, and you just kind of know your way around look at your life, and you say, Hey, I have an abnormally large family. So maybe you have a family of even I don't know, three kids is abnormally large nowadays, like we have. So let's say every say it's not that much. So let's say clearly, we don't budget

Doug Johnson:

our budget. So basically, what she's trying to say is that you have some type of budget that you need to be able to fit all of your food into. And so you're really good at to be you don't have a degree that says I can teach or I can I can cook for a large number of people that's healthy under a certain budget, but you in itself are proof that you can make that happen.

Hayley Johnson:

So for that type, of course, maybe you could charge like 297. You know, honestly, you could charge a lot more because you're saving people money.

Doug Johnson:

So let's say that you are charging something like 297 for this program, and you're like, man, all I really need to do is make an extra $1,000 A month passively as passively as

Hayley Johnson:

And also what that would look like is literally just posting on social media for an hour a day. I mean, most people have an hour a day, right now, as you're watching this podcast or time hours of the day, and our baby is sleeping. So we make the time for our business, but we don't have to make a lot of time. So it's honestly just so easy on family life. And for people that don't sales your course passively every single day.

Doug Johnson:

Yeah, and so that's why we really recommend this this income stream now there are derivatives of this, okay, there's also obviously group coaching and the one to one coaching, we cool things that you can do to make it really passive but because we are trying to aim this this video towards people who are a little a little bit on the newer side, we want to keep things as talking about affiliate marketing, but there's a difference here okay, if you do also do our first recommendation, which is courses, you can actually do affiliate marketing within your program and

Hayley Johnson:

this is like super helpful because you know when you just put things out on social media or tell your friends and family like go buy through my link. First off, that's weird. But they're going to want to buy through your links to support you. But not only that, but because they want to follow the program to get the results that are prompt, they're

Doug Johnson:

gonna want everything to a tee. Okay, so that includes things like software, it could include equipment, it could be the things that you buy, it could be the recipes, you know, if you're to be able to blend your different income streams.

Hayley Johnson:

So the third one, I feel like not a lot of people do. But if you don't want to have to spend a lot of time creating a full on online course, doing something like a paid webinar is very every month, whatever. And then people pay a set rate, right? Like, yeah, anything?

Doug Johnson:

Yeah, exactly. You set the price on what you want to be able to charge for it. But what's really cool about it is you do it live the first time, so you make it very interactive. And while you can have it on a website, and you just have a link that goes to somewhere where pay somebody can register, they can pay and then they get that content. It's super easy and really

Hayley Johnson:

Yeah, and people don't have to, like I said, create a, you know, six week or six month long online course something super like time consuming. You can dip your toes in with just

Doug Johnson:

another really good income stream that has to also do with social media. That's kind of like the tie in that we're trying to have here as well, is actually to self publish a book and self publish it through Amazon, and they hire an illustrator. And then once they get it to sell, you know, they sell it on Amazon, they get it listed, they get it ranked, and it just makes money every

Hayley Johnson:

A lot of other people have like workbooks like step by step, like fit like journaling. Okay, journaling is huge. I mean, not to get on tangent, but they have journaling most

Doug Johnson:

not self publishing, like random lines. And

Hayley Johnson:

my point of this is you can rank it through having a social media presence. If I mean, that is what I believe most people should do, because you need to lead someone, you know,

Doug Johnson:

So that actually leads us into our fifth passive income stream, which is doing physical products through Amazon FBA. Okay, so we actually used to do this, we actually used to sell because you have this boost of your followers or people that you know, that are buying it, then you rank higher on Amazon and it becomes extremely passive. Because you're able to do everything kind of doing that what we're talking about is actually like having your own physical product, having your own physical products likely overseas through like China, most of the time, it's a Chinese

Hayley Johnson:

And so Doug, why would you recommend that if we don't do that anymore? I feel like people might be thinking about

Doug Johnson:

Yeah, so people want to be like, Why don't you guys sell that anymore? You know, whatever happened to doing that? Well, there's a couple of reasons. So Amazon FBA, it's actually a you're really into it, and you really like creating your own product, it can be a very good passive income stream that blends with your social media presence,

Hayley Johnson:

and most likely, like the higher barrier to enter, what is the barrier to entry that something like a business or a product is for the marketplace? It's going to be more lucrative if experience with it, yeah, I do recommend it for people that really have a good idea and want to create something, you know,

Doug Johnson:

yes, you can start it with lower capital to begin with, and then like slowly reinvest over time. Yeah. And so there are a couple of like asterisks or caveats to this fifth one that's

Hayley Johnson:

was actually the business that allowed Doug to quit his six figure job so yeah, it was amazing. We didn't like how many years ago four years ago so yeah, so that's pretty much it for