How to Built 5 Income Streams That Make $90,000+ Per Month on online
What's up, everyone? Welcome back to my channel, the best place for new coaches, content creators, and entrepreneurs. In today's video, I want to talk about income, specifically the different income streams that exist in my business and check my plate kind of in my personal life that I make online.
Now, this video was heavily inspired by Pinterest over the weekend. I posted it on my Instagram right here. I was creating a vision board for my life and obviously, when you create a vision board, you'll find yourself on Pinterest. And so when I was browsing through Pinterest, I saw two graphics that really caught my eye. The first one is this graphic right here and it basically outlines the eight different income streams that exist. Now, if you're not familiar with the eight different income streams, let's just take a moment, pull it up together and go over it because I think it's really, really interesting and it's super enlightening to just expand your knowledge on the different types of income streams that exist in the world. So the first one is earned income. This is income that we are all really familiar with. It's the income that you have to work forso you have to actually earn it to make it.
The second one is profit income at profit. Income is when you buy and sell things and then that profit that you make from it, that the income that you received there. So if I buy the shirt for 20 bucks and then I sell it tomorrow for 40 bucks, then I've profited 20 bucks interest income. This is the type of income that a lot of banks make. So if you lend money out and then you charge interest on that, that is income that you make. From that, there is residual income. This is the income where you continue to get paid even after the work is done. So you do something once and then you get paid for it time and time after. Again, dividend income and this is the income that you make when you invest in stocks and you get paid dividends from that. Rental income. This is income that we're all also really familiar with. It's when you buy property,
you rent it out and the income that you make from renting out that property, that is your income there, there are capital gains. This is what an asset that you bought increases in value. So let's say you buy a house for $1 million today and then tomorrow it's $2million. That is capital gain. Another one that I'm not sure if it actually is capital gain, cause I'm not sure if these are assets, but let's say you buy a Birkin bag for a $10,000today and tomorrow it's $20,000 that's also capital gain potential. And then finally there's royalty income. So a lot of singer-songwriters make royalties.
So this is when you sell your content, you sell your ideas, and then you make a kickback from that. And so when I was going through this list of eight income streams, it really got me thinking of how many income streams that I have. Not only this, but I also saw this graphic right here and this graphic basically says that the average millionaire has seven income streams. And so I was like, huh, I wonder how many I have. And so I started counting and I started to actually look into the numbers and as I was looking into the numbers, I was pretty impressed by some of the information that I found and I also didn't realize that I actually technically have six different types of income streams that I make online. And so that's why I wanted to create this video because I thought it was really informative and obviously, this video is not meant for me to give you guys financial advice, but it is meant to be somewhat educational ina sense where each income stream that I mentioned that I have, I'm going to try my best to kind of give you guys a quick tip for each one so that you're getting value out of it and you have action steps to take.
But also I hope that this video serves inspiration of what is possible because I see a lot of people stopping themselves from starting that YouTube channel from starting that podcast show, from putting themselves out there, from building a personal brand. And it really, really stinks to see that because for me, before I started this YouTube channel, I started with two income streams, earned income and dividend income. To earn income, whether it was me working at my corporate job or me working as a coffee barista, I had to work really hard to make money. The second income stream that I had was dividend income. So at the time, and I still have this income stream, I would invest in stocks, whether that was cryptocurrencies or index funds or stock picking, you know,
I would make money off of that. And so at the time, I had two different types of income streams. But fast forward a year and a half later, almost two years later, since starting my channel, I started this channel, July, 2018I now have six different types of income streams. And a lot of this is really thanks to me being YouTube. A lot of it is thanks to my building and taking time to create this personal brand that I have online and building an audience that I have online. And so I really hope that when you watch this video, it really shows you what is possible and all the opportunities possibilities that exist that you can unlock so long as you decide and you take that first step and that first leap of faith to create what you want to create online. There are so many awesome things that can happen as a ripple effect of you starting that channel, starting that podcast episode, starting that Instagram accounts, and so I really hope that this video serves as inspiration for that.
Now, if you are interested in learning about the different income streams that I have, the money that I make for each one, and also some actionable tips for you for each income stream, then this video is going to be perfect for you, but before we begin, it's something that we do on this channel is that we love to show appreciation to our community. So let's get into those shout outs first. Before we dive into this week's awesome video, we want to shout out the comment and youtube channel of the week. Thank you so much. Relieving these kinds of messages onto last week's video. Not only this, but we also want to shout out the Instagram story and profile of the week as well. Thank you again for shouting out our videos.
Now if you're watching this and you're wondering how can I get featured in the next video, it's very simple. Number one, you could either leave a comment below on this video or you can take a picture of this video and share it with your audience Instagram. Just don't forget to tag me now with that or the way. Let's just dive right into this week's video. All right, so let's dive into the first income stream that I have for you and it's first for a reason because this income stream represents 80 anything, 90% of my monthly income and that is selling digital courses.
Now, what this basically means is that I have packaged my knowledge on a particular subject, and in my case, my subject is all about helping new coaches create really great coaching programs, teach them how to sell, and teach them how to use Instagram so that they can turn their followers into clients. So what I've done is I've packaged all my knowledge surrounding this topic, and I've turned it into a digital course that can be assessable to anyone who has an internet connection. And by doing this, it has allowed me to create passive income streams for myself. Because when you create digital products, an awesome, awesome thing is that you only really need to do it once unless you're updating the course. But to keep things simple, you really only have to do it once. And what I mean by this is that you'll film the videos, filmed the tutorials, create the worksheets, do whatever you need to do to make it a really awesome experience for your clients or your students. But the beauty of it is you only really need to have to do it once. And once you've created this product online, you're then able to sell it over and over again to multiple people. What I also love about creating online courses is that unlike creating a physical product, so a physical product like let's say this mug that I have over here, unlike creating a product like this, your overhead to create a digital product is really, really low. And to give you an idea of some things that you might have to pay for to get started is a membership platform. Whether that's Kajabi, Thinkific or teachable,
this is the platform where you're going to host the course. Now obviously depending on how extreme you want to take your course, you can invest in equipment like a better microphone or a better webcam to create a really high-quality experience. But a lot of that isn't 100% necessary. So keep in mind that the fees and the cost of creating an online program are virtually pretty low. And in fact, even if you don't choose a platform like Kajabi, Thinkific or teachable, there are a lot of free platforms that will also allow you to host courses as well. And so unlike this product right here with a physical product as an entrepreneur who sells physical products, you're going to need to pay for inventory costs, shipping costs, manufacturing costs for every unit that you need to produce, and that creates a lot of overhead. And therefore for an eCommerce business, let's say that sells physical products, you're going to have a lot less of a profit margin versus digital product like courses or eBooks or anything like that. Your profit margins are going to be very high. And to give you an idea, last year in 2019 my profit margins my business was about 60% and that is really big. That includes all the people that I hire, the platforms that I invest in in order to keep my business running. But my profit margins were about 60% versus an eCommerce company. Their profit margins might be 20% 30% 40%maybe if they have really great profit margins.
And that's the nature of the two different business models. And so when you have a digital course business or you create digital products, keep in mind that the startup fee is actually quite low. Now at this point in the video, you might be thinking to yourself, Oh, easy for Vanessa to say she is good at social media and she'sin business and there are so many courses about business. But I want to tell you right now, there are so many different courses that exist on the internet. There are courses about the manifestation of courses that teach you how to use a journal, courses about parenting courses, about how to walk your dog properly. There are so many different courses that exist and as a matter of fact, e-learning is an industry that is booming right now and by 2025 it is expected to hit $325 billion. And so this is a really great opportunity to tap into, especially if you already have something that you're really good at and that you're willing to teach others to be good at as well. More and more as time goes on, e-learning is going to be massive. A lot of people prefer to learn online. And even for you watching this video or watching any of my videos on YouTube, you're already choosing to learn online. And so again, if you are good at something, whether that is being a great mom, being a great calligrapher, being a great dog Walker, being a great stylist, you have the opportunity right at your fingertips to create a digital course that you can sell to your audience or to whoever sees value in your product. Now, this has to be said because I think that creating a digital course product is great, but it is easier said than done. And I personally believe there are three things that would make it a little bit more successful and scalable if you decide to go this route. And I talk a lot more in this in this 30.
the minute episode that I have here on my podcast, turn your followers into clients where I legitliterally break down the differences between six-figure courses and courses that makes$0 million. So make sure you check out this podcast episode. If you are interested in doing digital course products for your business or for your personal brand now anyways. The three things that I believe would make a digital course product successful. Number one is you need to make sure you have a repeatable process that is designed to get results. So what this means is that this is a process that you don't have to customize for every person that goes through your program. It's a process that whoever goes through it is going to get results if they put in the work and if they follow what you teach to the tee because that's also another topic that we can dive into. But basically, course doesn't work unless you actually do the work, right? But anyway, you need to have a repeatable process that is designed to get someone results. The second thing is you need to be very clear about who your course is for and.
that it's down. This is really important and it links back to the first tip that I just gave. In order for a process to have a high success rate of getting people results, you need to be super specific on who is the right fit for your course. So let's say for my digital course product, the boss' Graham Academy, it's designed for new coaches who don't have pay clients yet to get their first few paid clients. If I had told people that this course is for anyone and everyone, then the process that I have in my course wouldn't work for everyone. That goes through, and that's why it's really important that you are super specific about who your course is for. Let's say you' recreating a course about dog-walking. It's not going to work for someone who has a cator who has a hamster. And so you need to make it crystal clear in your marketing and in your positioning that it is only for a specific type of person who has a dog. So be very, very clear on that. And then the third thing that I believe will make a digital course product business scale a lot faster and get passive income a lot faster is traffic and visibility. You can.
absolutely sell digital courses with a very, very small audience and be successful at it. I know tons of people who have, but keep in mind that the lower-priced your product is. So let's say it's a $10 course. Imagine how many students you would need to enroll every single month in order to make a 10 K a month or have a six-figure business. You would need a lot. And so the more expensive your course is, the less traffic you might need in order to hit your income goals. But the cheaper your courses or the lower price ticket your course is, you're going to need a lot more traffic. So these are the three things that you definitely want to keep in mind up. But when you have these three things put together, digital course products are a really great way to create passive income yourself. And it really ranges from a month to month. So let me give you an example of what we make in our business by selling digital courses. There are some months where we have six-figure months. There are other months where I make $50,000 and other months where we make a little bit more.
It really ranges from a month to month, but the beauty of it is is that I have already put all of my work into this one product and it's selling on autopilot as new students are enrolling in our program. Now, obviously, the numbers that I just shared with you are my numbers very unique to my business and the way that I've set things up. But for you, it could be something completely different. There are other course creators who are making way more than me, or there are some people who do it as a side hustle and get an extra $500 $2,000 $10,000 you know, $500 a month from selling digital products. Now, at this point, you might also be thinking to yourself, okay, Vanessa just broke down the three things that she believes makes a course successful. I don't have any of these three things. I don't have a repeatable process. I'm not sure if I can get people results. I don't know what the niche would even be. And I also not at a place where I even have an audience to sell to. So what do I do? While this leads me to the second income stream that I have that I think is really, really achievable, even if you have a small audience, and even if you aren't sure whether or not your process can get people results. And that's one on one coaching or consulting. And here's the fun fact. Before I became a course creator before I packaged everything that I knew into boss Graham Academy,
which is the program that I offered today, I used to do one on one coaching slash, consulting. And this is perfect for those of you who may be, aren't clear whether or not what you teach or what you coach on or what you offer can really work. So instead of selling a course that is one too many people, you instead work one to one with another person. And that way you're able to customize. You're able to truly talk to that person one-on-one, understand what their needs are, get feedback, and also gets the level where you could potentially change high ticket. Because remember, courses are generally a little bit less expensive versus one-on-one work when you actually are dedicating a lot of time to build a program for someone, a lot of time to actually hold someone's hand, coach them, consult them, whatever it is. You can command higher prices and that's goingto be a really great cash injection that you get into your business while also validating our process and making sure that is repeatable for multiple people before you pack into a course. Working with private clients at the one on one level is also great because you get the flexibility of working with a variety of people so that you can really finetune your niche and figure out what exactly is your zone of genius. Who exactly is yourideal client? And in fact, my program boss Graham Academy helps a lot of new coaches do this. And a lot of my students actually one day want to be course creators, which is awesome.
But first, they need to have an offer first. They need to know their niche, they need to know exactly what they can offer and learn how to sell that offer. And so even in my program with our students who are working with one on one clients right now, we've had students make four-figure months on top of working their corporate jobs. This is amazing. And even when I started working at the one on one level, I used to work for free to test out what I could do, what I couldn't do, whether I could get people results. And then eventually I started charging, I started charging $500then $1,500 then $2,000 then three thousand four thousand five thousand to the point where month to month I was making $10,000 a month from working with people one on one. And then once I realized, Whoa, this is myzone of genius, I'm good at what I do. I can get people results at the one on one level. It's now time to create a course. And then I packaged everything that I was teachingplus everything new that I've learned into a course. And now today I have the boss' GrahamAcademy. So as you can see, even if you're someone who wants to create a course one day, you can absolutely do that. But first, validate your course idea, validate whether or not you can get people results at the one on one level first. And if you want to learn more about that, then definitely check out the free master class that I have. It's going to belinked in the comment section below. And in that masterclass, I will actually show you more steps as to how you can monetize and turn your followers into clients through selling one-on-one services that can be eventually turned into digital course products. And one last thing that I want to mention because we're talking about multiple income streams here.
You can be a course creatorand charge one-on-one services on the side. So for me, if I wanted to, I could announce to YouTube and I could announce on my Instagram and say, Hey everyone, I'm opening up five spots for private coaching or private consulting and boom, I would be able to make an income that way on top of having a course that I sell on the side so you could have both and increase the different streams of income that you have. So again, to give you an idea of the money that I make through this income stream, last year we made $30,000 off of just one on one coaching services and then eventually transitioned to passive income products such as digital courses, which again, like I mentioned earlier on in this video represents about 80 to 90%of my monthly income and is where all my energy is dedicated to. Now moving onto the third income stream that I have, and this is an obvious one, and that is YouTube ad sense revenue. So by posting content online and being monetized on YouTube every month, I get money from it. Now, obviously, you would need to make sure that you have your 1000 subscribers and your 1000 hours of watch time in order to get.
monetized. But the moment that you hit that Mark, you're then able to make money passively through the ad sense revenue that you get paid from by YouTube. And to give you an idea of how much money we make on YouTube, every monthwe make about three to $4,000. And last year in 2019 we made a total of $37,000 just from posting content on YouTube and just from AdSense revenue alone, which is a completely passive income stream for my business and for myself. And an awesome thing about YouTube is that once you post a video one time and you are monetized, that video time and time againwill make you money. So for example, this video right here is an areally popular one. It's the one that went viral and even to this day it is still generating income for me. Now obviously with all of these things that I mentioned in this video, you still need to put in the work. And definitely being a YouTuber is not the easiest thing in the world. However, it is really fulfilling. And also what I find is that creators andinfluencers are on the rise. People don't want to consume content that is super commercializedand super polished. They prefer to consume content from people who remind them of themselves.And that's why YouTube is such a successful platform. And as much as so many people hate on YouTube and how YouTube doesn't pay its creators well. Well, to be honest, Instagramisn't really paying any creators. Facebook isn't really paying any creators.
So YouTube really is an awesome platform if you want to create content and also get paid for it. Now obviously everyone's results onYouTube are going to be different. My pay on YouTube based on my AdSense revenue is going to be different from another YouTuber who maybe has more subscribers than me is in a different niche or has more views or whatnot. It's just going to be different. So justkeep that in mind as well. But what I also want to mention, and this is a hot tip cause remember at the beginning of this video I mentioned that I would make sure that everyincome stream that I mentioned, I'm going to give a hot tip on for YouTube. If you are considering starting a channel, something that you need to know is that for every niche you get paid differently. And what I mean by this is yes, you could have a lot of subscribers. Yes, you could have a lot of views.
But what really comes down to is the niche that you're in. And that's what's really gonna determine what your cost per thousand is. So CPM is a metric that we track here on YouTube.And basically, this is the amount of money that an advertiser is willing to pay you forevery 1000 views that you produced. So for example, my channel, I could have a $10 CPM,so
Now, this video was heavily inspired by Pinterest over the weekend. I posted it on my Instagram right here. I was creating a vision board for my life and obviously, when you create a vision board, you'll find yourself on Pinterest. And so when I was browsing through Pinterest, I saw two graphics that really caught my eye. The first one is this graphic right here and it basically outlines the eight different income streams that exist. Now, if you're not familiar with the eight different income streams, let's just take a moment, pull it up together and go over it because I think it's really, really interesting and it's super enlightening to just expand your knowledge on the different types of income streams that exist in the world. So the first one is earned income. This is income that we are all really familiar with. It's the income that you have to work forso you have to actually earn it to make it.
The second one is profit income at profit. Income is when you buy and sell things and then that profit that you make from it, that the income that you received there. So if I buy the shirt for 20 bucks and then I sell it tomorrow for 40 bucks, then I've profited 20 bucks interest income. This is the type of income that a lot of banks make. So if you lend money out and then you charge interest on that, that is income that you make. From that, there is residual income. This is the income where you continue to get paid even after the work is done. So you do something once and then you get paid for it time and time after. Again, dividend income and this is the income that you make when you invest in stocks and you get paid dividends from that. Rental income. This is income that we're all also really familiar with. It's when you buy property,
you rent it out and the income that you make from renting out that property, that is your income there, there are capital gains. This is what an asset that you bought increases in value. So let's say you buy a house for $1 million today and then tomorrow it's $2million. That is capital gain. Another one that I'm not sure if it actually is capital gain, cause I'm not sure if these are assets, but let's say you buy a Birkin bag for a $10,000today and tomorrow it's $20,000 that's also capital gain potential. And then finally there's royalty income. So a lot of singer-songwriters make royalties.
So this is when you sell your content, you sell your ideas, and then you make a kickback from that. And so when I was going through this list of eight income streams, it really got me thinking of how many income streams that I have. Not only this, but I also saw this graphic right here and this graphic basically says that the average millionaire has seven income streams. And so I was like, huh, I wonder how many I have. And so I started counting and I started to actually look into the numbers and as I was looking into the numbers, I was pretty impressed by some of the information that I found and I also didn't realize that I actually technically have six different types of income streams that I make online. And so that's why I wanted to create this video because I thought it was really informative and obviously, this video is not meant for me to give you guys financial advice, but it is meant to be somewhat educational ina sense where each income stream that I mentioned that I have, I'm going to try my best to kind of give you guys a quick tip for each one so that you're getting value out of it and you have action steps to take.
But also I hope that this video serves inspiration of what is possible because I see a lot of people stopping themselves from starting that YouTube channel from starting that podcast show, from putting themselves out there, from building a personal brand. And it really, really stinks to see that because for me, before I started this YouTube channel, I started with two income streams, earned income and dividend income. To earn income, whether it was me working at my corporate job or me working as a coffee barista, I had to work really hard to make money. The second income stream that I had was dividend income. So at the time, and I still have this income stream, I would invest in stocks, whether that was cryptocurrencies or index funds or stock picking, you know,
I would make money off of that. And so at the time, I had two different types of income streams. But fast forward a year and a half later, almost two years later, since starting my channel, I started this channel, July, 2018I now have six different types of income streams. And a lot of this is really thanks to me being YouTube. A lot of it is thanks to my building and taking time to create this personal brand that I have online and building an audience that I have online. And so I really hope that when you watch this video, it really shows you what is possible and all the opportunities possibilities that exist that you can unlock so long as you decide and you take that first step and that first leap of faith to create what you want to create online. There are so many awesome things that can happen as a ripple effect of you starting that channel, starting that podcast episode, starting that Instagram accounts, and so I really hope that this video serves as inspiration for that.
Now, if you are interested in learning about the different income streams that I have, the money that I make for each one, and also some actionable tips for you for each income stream, then this video is going to be perfect for you, but before we begin, it's something that we do on this channel is that we love to show appreciation to our community. So let's get into those shout outs first. Before we dive into this week's awesome video, we want to shout out the comment and youtube channel of the week. Thank you so much. Relieving these kinds of messages onto last week's video. Not only this, but we also want to shout out the Instagram story and profile of the week as well. Thank you again for shouting out our videos.
Now if you're watching this and you're wondering how can I get featured in the next video, it's very simple. Number one, you could either leave a comment below on this video or you can take a picture of this video and share it with your audience Instagram. Just don't forget to tag me now with that or the way. Let's just dive right into this week's video. All right, so let's dive into the first income stream that I have for you and it's first for a reason because this income stream represents 80 anything, 90% of my monthly income and that is selling digital courses.
Now, what this basically means is that I have packaged my knowledge on a particular subject, and in my case, my subject is all about helping new coaches create really great coaching programs, teach them how to sell, and teach them how to use Instagram so that they can turn their followers into clients. So what I've done is I've packaged all my knowledge surrounding this topic, and I've turned it into a digital course that can be assessable to anyone who has an internet connection. And by doing this, it has allowed me to create passive income streams for myself. Because when you create digital products, an awesome, awesome thing is that you only really need to do it once unless you're updating the course. But to keep things simple, you really only have to do it once. And what I mean by this is that you'll film the videos, filmed the tutorials, create the worksheets, do whatever you need to do to make it a really awesome experience for your clients or your students. But the beauty of it is you only really need to have to do it once. And once you've created this product online, you're then able to sell it over and over again to multiple people. What I also love about creating online courses is that unlike creating a physical product, so a physical product like let's say this mug that I have over here, unlike creating a product like this, your overhead to create a digital product is really, really low. And to give you an idea of some things that you might have to pay for to get started is a membership platform. Whether that's Kajabi, Thinkific or teachable,
this is the platform where you're going to host the course. Now obviously depending on how extreme you want to take your course, you can invest in equipment like a better microphone or a better webcam to create a really high-quality experience. But a lot of that isn't 100% necessary. So keep in mind that the fees and the cost of creating an online program are virtually pretty low. And in fact, even if you don't choose a platform like Kajabi, Thinkific or teachable, there are a lot of free platforms that will also allow you to host courses as well. And so unlike this product right here with a physical product as an entrepreneur who sells physical products, you're going to need to pay for inventory costs, shipping costs, manufacturing costs for every unit that you need to produce, and that creates a lot of overhead. And therefore for an eCommerce business, let's say that sells physical products, you're going to have a lot less of a profit margin versus digital product like courses or eBooks or anything like that. Your profit margins are going to be very high. And to give you an idea, last year in 2019 my profit margins my business was about 60% and that is really big. That includes all the people that I hire, the platforms that I invest in in order to keep my business running. But my profit margins were about 60% versus an eCommerce company. Their profit margins might be 20% 30% 40%maybe if they have really great profit margins.
And that's the nature of the two different business models. And so when you have a digital course business or you create digital products, keep in mind that the startup fee is actually quite low. Now at this point in the video, you might be thinking to yourself, Oh, easy for Vanessa to say she is good at social media and she'sin business and there are so many courses about business. But I want to tell you right now, there are so many different courses that exist on the internet. There are courses about the manifestation of courses that teach you how to use a journal, courses about parenting courses, about how to walk your dog properly. There are so many different courses that exist and as a matter of fact, e-learning is an industry that is booming right now and by 2025 it is expected to hit $325 billion. And so this is a really great opportunity to tap into, especially if you already have something that you're really good at and that you're willing to teach others to be good at as well. More and more as time goes on, e-learning is going to be massive. A lot of people prefer to learn online. And even for you watching this video or watching any of my videos on YouTube, you're already choosing to learn online. And so again, if you are good at something, whether that is being a great mom, being a great calligrapher, being a great dog Walker, being a great stylist, you have the opportunity right at your fingertips to create a digital course that you can sell to your audience or to whoever sees value in your product. Now, this has to be said because I think that creating a digital course product is great, but it is easier said than done. And I personally believe there are three things that would make it a little bit more successful and scalable if you decide to go this route. And I talk a lot more in this in this 30.
the minute episode that I have here on my podcast, turn your followers into clients where I legitliterally break down the differences between six-figure courses and courses that makes$0 million. So make sure you check out this podcast episode. If you are interested in doing digital course products for your business or for your personal brand now anyways. The three things that I believe would make a digital course product successful. Number one is you need to make sure you have a repeatable process that is designed to get results. So what this means is that this is a process that you don't have to customize for every person that goes through your program. It's a process that whoever goes through it is going to get results if they put in the work and if they follow what you teach to the tee because that's also another topic that we can dive into. But basically, course doesn't work unless you actually do the work, right? But anyway, you need to have a repeatable process that is designed to get someone results. The second thing is you need to be very clear about who your course is for and.
that it's down. This is really important and it links back to the first tip that I just gave. In order for a process to have a high success rate of getting people results, you need to be super specific on who is the right fit for your course. So let's say for my digital course product, the boss' Graham Academy, it's designed for new coaches who don't have pay clients yet to get their first few paid clients. If I had told people that this course is for anyone and everyone, then the process that I have in my course wouldn't work for everyone. That goes through, and that's why it's really important that you are super specific about who your course is for. Let's say you' recreating a course about dog-walking. It's not going to work for someone who has a cator who has a hamster. And so you need to make it crystal clear in your marketing and in your positioning that it is only for a specific type of person who has a dog. So be very, very clear on that. And then the third thing that I believe will make a digital course product business scale a lot faster and get passive income a lot faster is traffic and visibility. You can.
absolutely sell digital courses with a very, very small audience and be successful at it. I know tons of people who have, but keep in mind that the lower-priced your product is. So let's say it's a $10 course. Imagine how many students you would need to enroll every single month in order to make a 10 K a month or have a six-figure business. You would need a lot. And so the more expensive your course is, the less traffic you might need in order to hit your income goals. But the cheaper your courses or the lower price ticket your course is, you're going to need a lot more traffic. So these are the three things that you definitely want to keep in mind up. But when you have these three things put together, digital course products are a really great way to create passive income yourself. And it really ranges from a month to month. So let me give you an example of what we make in our business by selling digital courses. There are some months where we have six-figure months. There are other months where I make $50,000 and other months where we make a little bit more.
It really ranges from a month to month, but the beauty of it is is that I have already put all of my work into this one product and it's selling on autopilot as new students are enrolling in our program. Now, obviously, the numbers that I just shared with you are my numbers very unique to my business and the way that I've set things up. But for you, it could be something completely different. There are other course creators who are making way more than me, or there are some people who do it as a side hustle and get an extra $500 $2,000 $10,000 you know, $500 a month from selling digital products. Now, at this point, you might also be thinking to yourself, okay, Vanessa just broke down the three things that she believes makes a course successful. I don't have any of these three things. I don't have a repeatable process. I'm not sure if I can get people results. I don't know what the niche would even be. And I also not at a place where I even have an audience to sell to. So what do I do? While this leads me to the second income stream that I have that I think is really, really achievable, even if you have a small audience, and even if you aren't sure whether or not your process can get people results. And that's one on one coaching or consulting. And here's the fun fact. Before I became a course creator before I packaged everything that I knew into boss Graham Academy,
which is the program that I offered today, I used to do one on one coaching slash, consulting. And this is perfect for those of you who may be, aren't clear whether or not what you teach or what you coach on or what you offer can really work. So instead of selling a course that is one too many people, you instead work one to one with another person. And that way you're able to customize. You're able to truly talk to that person one-on-one, understand what their needs are, get feedback, and also gets the level where you could potentially change high ticket. Because remember, courses are generally a little bit less expensive versus one-on-one work when you actually are dedicating a lot of time to build a program for someone, a lot of time to actually hold someone's hand, coach them, consult them, whatever it is. You can command higher prices and that's goingto be a really great cash injection that you get into your business while also validating our process and making sure that is repeatable for multiple people before you pack into a course. Working with private clients at the one on one level is also great because you get the flexibility of working with a variety of people so that you can really finetune your niche and figure out what exactly is your zone of genius. Who exactly is yourideal client? And in fact, my program boss Graham Academy helps a lot of new coaches do this. And a lot of my students actually one day want to be course creators, which is awesome.
But first, they need to have an offer first. They need to know their niche, they need to know exactly what they can offer and learn how to sell that offer. And so even in my program with our students who are working with one on one clients right now, we've had students make four-figure months on top of working their corporate jobs. This is amazing. And even when I started working at the one on one level, I used to work for free to test out what I could do, what I couldn't do, whether I could get people results. And then eventually I started charging, I started charging $500then $1,500 then $2,000 then three thousand four thousand five thousand to the point where month to month I was making $10,000 a month from working with people one on one. And then once I realized, Whoa, this is myzone of genius, I'm good at what I do. I can get people results at the one on one level. It's now time to create a course. And then I packaged everything that I was teachingplus everything new that I've learned into a course. And now today I have the boss' GrahamAcademy. So as you can see, even if you're someone who wants to create a course one day, you can absolutely do that. But first, validate your course idea, validate whether or not you can get people results at the one on one level first. And if you want to learn more about that, then definitely check out the free master class that I have. It's going to belinked in the comment section below. And in that masterclass, I will actually show you more steps as to how you can monetize and turn your followers into clients through selling one-on-one services that can be eventually turned into digital course products. And one last thing that I want to mention because we're talking about multiple income streams here.
You can be a course creatorand charge one-on-one services on the side. So for me, if I wanted to, I could announce to YouTube and I could announce on my Instagram and say, Hey everyone, I'm opening up five spots for private coaching or private consulting and boom, I would be able to make an income that way on top of having a course that I sell on the side so you could have both and increase the different streams of income that you have. So again, to give you an idea of the money that I make through this income stream, last year we made $30,000 off of just one on one coaching services and then eventually transitioned to passive income products such as digital courses, which again, like I mentioned earlier on in this video represents about 80 to 90%of my monthly income and is where all my energy is dedicated to. Now moving onto the third income stream that I have, and this is an obvious one, and that is YouTube ad sense revenue. So by posting content online and being monetized on YouTube every month, I get money from it. Now, obviously, you would need to make sure that you have your 1000 subscribers and your 1000 hours of watch time in order to get.
monetized. But the moment that you hit that Mark, you're then able to make money passively through the ad sense revenue that you get paid from by YouTube. And to give you an idea of how much money we make on YouTube, every monthwe make about three to $4,000. And last year in 2019 we made a total of $37,000 just from posting content on YouTube and just from AdSense revenue alone, which is a completely passive income stream for my business and for myself. And an awesome thing about YouTube is that once you post a video one time and you are monetized, that video time and time againwill make you money. So for example, this video right here is an areally popular one. It's the one that went viral and even to this day it is still generating income for me. Now obviously with all of these things that I mentioned in this video, you still need to put in the work. And definitely being a YouTuber is not the easiest thing in the world. However, it is really fulfilling. And also what I find is that creators andinfluencers are on the rise. People don't want to consume content that is super commercializedand super polished. They prefer to consume content from people who remind them of themselves.And that's why YouTube is such a successful platform. And as much as so many people hate on YouTube and how YouTube doesn't pay its creators well. Well, to be honest, Instagramisn't really paying any creators. Facebook isn't really paying any creators.
So YouTube really is an awesome platform if you want to create content and also get paid for it. Now obviously everyone's results onYouTube are going to be different. My pay on YouTube based on my AdSense revenue is going to be different from another YouTuber who maybe has more subscribers than me is in a different niche or has more views or whatnot. It's just going to be different. So justkeep that in mind as well. But what I also want to mention, and this is a hot tip cause remember at the beginning of this video I mentioned that I would make sure that everyincome stream that I mentioned, I'm going to give a hot tip on for YouTube. If you are considering starting a channel, something that you need to know is that for every niche you get paid differently. And what I mean by this is yes, you could have a lot of subscribers. Yes, you could have a lot of views.
But what really comes down to is the niche that you're in. And that's what's really gonna determine what your cost per thousand is. So CPM is a metric that we track here on YouTube.And basically, this is the amount of money that an advertiser is willing to pay you forevery 1000 views that you produced. So for example, my channel, I could have a $10 CPM,so
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