How I Built 7 Streams of Income By Age 24
ฝัง
- เผยแพร่เมื่อ 30 พ.ค. 2024
- In this video, I'll break down my 7 steams of income that I've grown over the past several years.
These income sources have taken me a while to build, but they've been completely worth while. At the end of the day, I think that having passive income is one of the most important assets you can build, allowing you to make decisions on your own terms. Thanks for watching!
⌲ All Links Mentioned 👉 aleksheffield.com
⌲ Course: sixfigurestorefront.com
0:00 - Intro
0:26 - Why Passive Income is Important
1:23 - Income Source #1
3:38 - Income Source #2
5:16 - Income Source #3
6:18 - Income Source #4
7:29 - Income Source #5
10:02 - Income Source #6
11:49 - Income Source #7
12:54 - Bonus Tip #1
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Only elite, alpha, ultra rich, super geniuses scroll back up and hit like. Just saying
🤣
😂😂😂
I clicked it before I read this! I'm way ahead! LOL!
Hey bud , where do I go to join up to your on line course , please
hello boss my country name is bangladesh.etsy doesn't give store in bangladesh can u give me etsy store.
The fact that nobody talks about the book The Hidden Truths Of Wealth speaks volumes about how people are stuck in a trance.
But you are talking about it😂 so you are wrong that nobody is talking about it
I don’t know what book you’re talking about, I can’t find it anywhere do you mind sending a link?
I’ve seen this exact comment on another similar video so this may be a scam
@@Noahs_Gainspretty sure it’s a scam
🎯 Key Takeaways for quick navigation:
00:00 🎬 *Introduction to 7 Streams of Income*
- Introduction to the speaker's seven income streams developed by age 24.
- Importance of passive online income for personal financial freedom.
- Transitioning from traditional employment to building multiple income streams gradually.
01:22 💻 *Selling Digital Products*
- Selling digital products as a beginner-friendly online income source.
- Examples of digital products: eBooks, courses, templates.
- Highlighting the misconception that a large following or unique idea is necessary for success.
03:27 ☕ *Print on Demand Business (Mugs)*
- Explaining the print on demand business model for physical products.
- Transition from selling digital products to designing and selling mugs.
- Leveraging AI tools for design creation and the scalability of the business.
05:20 🖼️ *Print on Demand Business (Posters)*
- Expansion into selling posters using print on demand.
- Diversification of income streams by repurposing designs across multiple products.
- Highlighting the ease of managing multiple shops and the passive nature of income.
07:29 📱 *Social Media Content Creation*
- Utilizing social media content creation for income generation.
- Emphasizing the importance of providing value and authenticity.
- Mentioning various income streams from ad revenue, sponsorships, and product sales.
10:00 🤝 *Affiliate Marketing*
- Explanation of affiliate marketing as a referral-based income source.
- Growth potential through personal branding and content creation.
- Demonstrating the effectiveness of affiliate marketing through personal experience.
12:05 💳 *Utilizing Credit Card Bonuses*
- Utilizing credit card bonuses for passive income generation.
- Strategy of matching specific cards to spending categories for maximum rewards.
- Highlighting the importance of responsible credit card use and avoiding debt.
Made with HARPA AI
Thanks for the insight and candor about your business, Alek! I seemed to think that "digital entrepreneurship" was one income source, albeit from varying POD businesses. Glad to see your point of view.
1. Digital Products
2. POD - Mug store
3. POD - Poster store
4. POD - T-shirt store
5. Social Media Content
6. Affiliate Marketing
7. Credit Card Bonuses
Bonus tip:
= Don't attempt to start multiple income streams at once. Build one, then move to the next, once cash flows.
Thank you, Alek! I'm at the beginning of my journey to passive income and I'm really enjoying it. I'm working hard and learning SO much from your videos and your course! Thank you so much!
I am too. I have started an investing channel please view and subscribe 🙏
Alek, I've been following you since before your 100k subscriber, and what I most appreciate about you, except your skills to explain things really well (of course) , is that you are always really honest and transparent about the reality of this business without making people believe it's really easy, like you make overnight success. Many other TH-camrs talk only about how much money they make just to get views, and are not clear about the reality of it. This is really important. Thanks for your videos!
Thank you mate, I really appreciate that.
Helpful and inspiring. Thank you. 🙏🏽
My three favorite channels: Alek, Stock Brotha, & How Money Works. Make my week complete! 🔥 🔥 🔥
Thank you so much for your videos. Provide valuable insight and hope
Great breakdown on the income streams! For those looking to amplify their passive income, consider leveraging automation tools for email marketing to nurture leads without constant manual effort, it can be a game-changer in scaling your business efficiently.
Perfect execution from starting a small online business to building a digital empire!
SO glad you released this video in particular Blcktken300. I was accumulating AR and then saw your video last year saying that you see Blcktken300 may hit 300-400 and then you changed your view. Great and very informative!!! Thanks
Thanks for putting all this together on this video.
Glad you enjoyed it!
Liked and subbed too my friend!@@alekSheffy
This channel is so straight forward and to the point it motivated to start my own Etsy mug shop
Have u started.... If yes what sort of challenges have u incurred
You’ll make fuck all money, but make sure you buy his course…which is probably where all his income comes from
Can you show us proof that within months your digital art/POD/t-shirt businesses were doing $10k+ in sales? Sounds extremely unrealistic for a new store.
Hey! I do this on the side and while it’s not 10k, if you put in the effort and the work, you’ll get there. It’s all strategy and NOT luck anymore.
@@danceparty769 no, because when I started I had no idea what I was doing. It's not a "new" venture either. You clearly didn't read my comment at all.
Alek! youre the reason i made a store and got into POD designing. I have put in hundreds of hours of time and dedication into it. unfortunately the fruits of my labor has yet to be seen. 116 listings, and only sales were from supporting people in my circle. Losing hope, and dreading the seemingly inevitable return to blue collar.
But seeing your vids, brings that hope back everytime. Your way of smoothly delivering pertinent information, while mixing it with some motivational get up and get it energy is top notch, And i thank you for it!
Much love, from waterthenwinedesign
Don’t give up man you got this 🤝
Am in the same boat man, only one sale and from a supportive person but I only have 40 listings so far.
can you give an update on your store? :)
@@ForeverLovedStoreSometimes it’s best to give up and move on😒
Awesome, thank you so much, Alek, for this incredible overview!! 🤩✨🌹
Great Info! Bitcoin is moving crazy these few days but if you are smart then you should know the best thing to do is exchange especially with the right guidance.
It is clear BTC have proved it's use case during this uncertain times. We need more experts like (MAXIM OWENS) who educate people on the evolution of the market so people avoid common mistakes so they don’t walk out of the market feeling frustrated! Keep up the great work! Raised over 7 BTC when I started at 0.5 BTC in just few weeks implementing MAXIM OWENS daily trading strategies.
Truly Inspiring💡
How can one start, most times people don't know where to start when it comes to Crypto. But it would be great if you can provide proper guidance on steps to follow please.
@@EdLass-cy4zo You're right! I have lost alot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please. I actually don't mind paying
It's pleasing to know many already gained from him and it's not just me and my friends
*Love the idea of making/selling digital products.*
Nice content. Thanks!
Definitely will try some of these
Small channel here - I dropped out of school/a job I hated to pursue what I love, cooking and storytelling, through this page.
This is incredibly helpful, man. Just started 2 months ago with no real idea of what I was getting into and looking to you for so much inspiration.
Thank you bro for your good content 🎉🎉🎉🎉🎉
This is amazing. “How to build wealth”
The first step to building wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon. Give this a try and attain good-returns.
researvh the name, if you care.
REBECCA MARTIN WATSON
l’m amazed to partake on this, lt has rekindled the fire to my goals.
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
Starting early is key to building wealth, with investing as a top priority. Learning from last year's experience, I've managed to build a better life by investing early this time around.
Exactly ! That's my major concern and what lucrative investment can one venture into with the current rise in economic downturn
In fact, I had no prior experience or understanding when I began investing in 2020, but by the end of 2023, I had made a profit of almost $850k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.
@@mikegarvey17My partner’s been considering going the same route, could you share more info please on the advisor that guides you.
*Gertrude Margaret Quinto* maintains an online presence. Just make a simple search for her name online.
Thank you for all of the info. I have been watching you, and others like you, for the last year. I am going to start a T-shirt busiess soon, working on it a little each night before bed. I started the Etsy sign up process, researched Printify, and already made and sold an AI generated coloring book. Thank you for the straight forward information and for never talking down to your audiance. I feel like I can do this!
Congrats!
Hey, I finished the video and still remember you LOL! Great info - thank you!!
All info is outdated. You could make money out of it because it was 2019. Now every blogger makes videos about how to sell digital products and other stuff you mentioned. Market is oversaturated by this ideas
Hey Alek, this is great. For me the best one is dropshipping by far. It's like 90% of my income. I have an online store with over 300 sales per week. I just used products from winnerzila for my store, and I had sales from first days. I hope to expand my business even more, and maybe try other niches as well, but dropshipping is soo good for me now😀
Provide me with a link to your store
Do you dropshipp multiple products?
How do you promote your drop shipping website?
Thanks very informative Great content 👍👍👍👍🫡
Bro just exposed my entire life plan
Jokes aside you are the best side hustle youtuber by far keep up the good work
Thanks mate
Hey Alek, thanks for another amazing video! Just wondering how you handle all the research development, designing, and customer service as your businesses scale?
...... aaaand you're getting into the software SAAS business as well! Wish you all the good luck! ❤
👀
Awesome video Alex! Definitely have been the largest source of help in my sitting up my store. Would you consider making an affiliate marketing video? Currently working on that as well as my Etsy stores to create another side hustle, thanks so much!
Great suggestion!
Hi! Thanks for your videos, I really love them.
I got three questions for you:
1. Why do you think Midjourney is better than Kittl?
2. Do you prefer Printify rather than Printful?
Alek, what is an appropriate range of product listings for an Etsy shop? I will keep each shop specific to a given theme, and I don't want to underwhelm with fewer than the 40 basic -- or make a shop look like a hodgepodge of no clear direction and so many choices that a potential customer just leaves.
Hey Alek, i have question on Print on demand product selling on etsy, Is there any other free websites like etsy, as i am not willing to pay anything for selling but etsy take a small listing fee, so what should i do.
Location freedom is the biggest carrot here
9:44 very important point. 12:58 the books I have read stress this point..
Hi Alek, thank you for the inspiring video!
quick question, while i was preparing some digital products for batch production using the script, i encountered an issue which is if there is a mockup with a different perspective other than straight forward (which are unarguably more beautiful in some scenarios), it necessitates using 'vanishing point' filter which is a manual process, can it be automated using the script in some way?
thank you!
😊hi great ideas really like your video
Hey Alek, Thx for all the info! Quick question.. Do you make multiple Etsy stores from one account, or do you start a new account for each store? If its a new account for each store, then I guess you just use a different email for each account? any tips on this are welcome. Thx!
Now we just need to see your investing accounts and how your building wealth for the future my good brother
I’m so glad this video popped up on my feed. I have been getting overwhelmed with what income streams I should be focusing on! My brain then gets tired from trying to figure it all out and I can’t focus on anything at that point.
So glad I watched to the end. I will defiantly keep focusing on what I have started.. POD on Etsy. When would you recommend moving to the next project? I am getting probably 1 sale a day 5/7 days a week. I know it’s not much but should I keep posting and building this up until a certain income is made monthly? Thanks so much!
That depends on your situation, but either way, yes I'd recommend to keep going
Hi Alek, I've been designing some POD mugs (on Canva to use on Printify) but just need a bit of help making them look more professional and maybe some layout/font tips. If you could link me to some of your videos which help with this that would be awesome, thanks!
Your videos are great, but what you fail to mention is that you started in covid times, when etsy and online boomed. Everyone was online buying and selling.. its not as easy now and lot harder to do. You established your stores yrs ago, and etsy pushed your products
Onthe flip side your location is states, lot easier to sell than say uk
Much success to everyone
You motivated me to start selling on etsy, but I'm still uncertain of which niche I should pick + I don't know why I feel scared from starting😅
That happens. Getting started is the hardest part.
Completely inspired video gave me such an amazing idea with your first suggestion with printify love it! Thanks! KEY NOTE OF FOCUSING ON ONE AT A TIME! Great video!! Your awesome!! Completely inspired video you got a sub from me brother!!
Where do you get the highquality Maps and are they free of charge?
Good ideas🎉
Do you have multiple different Etsy shops for different product types? Or do you have everything under one shop and it's categorized differently somehow?
Multiple different shops
You are inspiring buddy but don't think what you did is easy for everyone because many have different gifts
It doesn't all have to be for everyone, you're right!
How do u get traffic to your etsy store? Its not quite as simple as posting lots of products & eventually making sales 🙈
I’ve been very keen to try these in the past but haven’t had any success since the market is very saturated for both Etsy & POD. 2018/19 was the best time to start this but for any new joiners, this becomes very challenging. Any suggestions on this?
Thanks again for great content!
I was wondering, if I open an Etsy shop but work mostly remotely from other countries since I’m travelling a lot (of course countries where Etsy allows stores) will I have problems with Etsy?
You can always use a VPN. You just have to open the seller account with an address in a valid country
Hi Alex, I have been watching your videos. I am a beginner. Could you please explain what repurposed design is?
Is the whole video also generated by ai?
I am going to have to consider selling something digital related to management. Management (people, money, inventory) seems to be the only thing I am good at. I suck at writing, however so that is the issue.
Affiliate marketing
Steps to start as a beginner
What's the I initial approach
I'm an ultra rich super genius, and Alek helped!! 🤩 can I get some of that single-minded dedication and discipline over here, please? I find that's my weakness. Trying to balance FT work, life, and side hustle as well as carving out "me" time so I don't go insane and burn out.
@2:17 "....or a painted masterpiece"........ stares nervously at watercolour painting on my desk 🥲
Hey Alek - love your videos! I’m about about to open my first Etsy store - I’m looking at selling a range of products. From this video I noticed you separated each product and created a separate business for each (for your mugs and then for your posters). Is this a better option rather than selling both products under one company name/store? Do you think I would do better separating my products too? Thanks!
I like using separate shops for each type of product
I just started to make digital art with midjorney, but I found out that I can't list them because I'll be 18 in 7 months. Should I continue making pictures with midjorney and get them ready (mockups and everything) so I can list them when I'm 18, or should I do something else in the time I turn 18. Any advice for what I should start doing that doesn't require KYC?
Can you list the names or links of your shops ? Were all curious 😊
I’m halfway through this video and so far you’ve only mentioned one stream of income, Profit Income. Multiple online shops or products all contribute towards Profit Income. The other streams of income are
Earned Income (a job)
Royalty income (copyrighted items)
Interest Income (bank savings)
Dividend Income (stocks)
Capital Gains (selling stocks)
Rental income (owning and leasing property)
A loyal viewer 😀wants to ask you, what software did you use to edit your video? I really likes the special effects in it.
I use Premiere Pro
How can I add black stroke to a masked text? I tried everything and still couldn't find it
When you quit your job, how were you paying the rent, expenses, etc, while your income streams started? How long did it take to make a few thousand per month?
To sell anything you first need to research the business requirements at your state's Secretary of State office. Sales tax comes in more than one form which can be confusing but they are part of our society.
Love Alex's videos. Just curious if anyone has bought his course and can provide feedback? Would be good to know if it was easy to follow and was worth it. Thanks!
Your likes to views ratio seems really off. You provide really good value for time spent watching. Have you thought about mentioning people "like" the video within the video instead of in comments?(or both)
Hey, thanks! Good idea
Is this printify only working in the us, without shipping?
Do you have proven advice for those putting their mind to it and just starting out [for print on demand physical products] on how to not have their content or product (ideas) stolen?
I mean, if your ideas get stolen there are tools you can use to report it. Usually, that doesn't happen as often as you'd think.
Yes sure
Hello man, I have you many times recommend Etsy as the place to be for print on demand, but I have a problem signing up because my country is not among the listed ones. Does this mean that I can't do print on demand or what?
Maybe some Shopify videos soon? 👀
Can the mug & t-shirt print can be done a smart phone?
nice vid
much of these dont work in my country Bosnia we cant sign in for etsy cuz we dont have US or EU bank card amazo printify etc etc we cant do it only way is to get someone to make bank acc for us or to create llc
For someone raking in that much money your course sure is expensive...
Maybe that’s how he’s making money…? 😂 Why wouldn’t he charge what he’s worth lmao
Selling brewed coffee on a corner may be a faster way to make money for some.
3:00 How can you make Maps like that?
is the Etsy market oversaturated?
What program do you use to create digital art/designs
Figma!
So did you have one Etsy shop for your mugs and a completely separate Etsy shop for the posters?
Eventually, yes
0:35 any money or any good money? because of your videos I have I have 2 etsy stores with decent income and a coaching business helping people get into digital marketing. thanks mate
can you imagine if they taught this in school
Ive seen those exact icons on envato elements lol
To anyone watching this that thinks that the money just rolls in. It doesn't! TH-camrs are getting scammed for their money. Etsy pays when they want to. same with PayPal and all the other social media sites.
If you are looking for something that's going to pay your rent monthly or weekly (depending on which country you are in), you are better doing YT or any of these businesses as a side business while you have a job that pays your rent. Once your online business is working, then you can leave your job but, times are changing, so make the right choices.
Just like this guy. He is or was in real estate in Colorado but I've only ever heard about his noodle hut job. I don't think a real estate career comes off quite as magical when you are lead to believe these schemes can make you financially independent on their own
PayPal most certainly does not pay you when they want to. You're just making things up to make your comments stabilize your opinion.
@@yackablejohnson1485 PayPal withheld money on my first transaction until I could provide proof of delivery. I delivered the items myself so there was no tracking and it was a PITA. It was thru my business account via woocommerce on my own site. If my costs were higher on that job, I could see this being a huge problem. I charge an extra 5% for PayPal now to incentivize an alternative method. Haven't had any issues since, but I wouldn't be surprised if they pulled something like that in the future.
TH-cam is not the best for money as it isn’t easy to grow like that. Nothing is a quick get rich scheme but it is possible to make thousands from dropshipping, ptd.
Hi, @alekSheffy the Adobe link on your page does not seem to work. Or can one use the Photopea tool with the script? Cheers
That’s really cool and all but I have a question. You have 7 streams of income that’s true BUT would it be easier to have one main stream instead of multiple. It seems to be a reliability
He says in the video that you should focus on one source of income and build from there. If you ask any wealthy person they have multiple income streams.
But ETSY has stopped onboarding in India, how can i do the same?
What are some print on demand companies?
Can I do printify with a phone?
My Blcktken300 shorts are doing pretty well and I plan to hold much longer.
Let's hustle smarter, not harder! 👊
I'm so doing this later
I got a store banned on Etsy and I have no idea why. now I can't open another shop on the site ever. great
Don't be discouraged! Same thing happened to me. I googled why it may have happened and found that Etsy bans new accounts often as a way of weeding out scammers. I appealed the ban and they reinstated my account a few days later!
Love your content. Trying to use your adobe affiliate link from your website, and it seems to be broken.
Working on it 👍
Sir apka server nhi chal rha hai kya? OTP hi nhi bhej rha
Is not the same Etsy than before, I have four ahops and noone is working