My First Passive Income Stream That's Still Paying, You Can Do The Same

11m | Jun 30, 2020

Hello, my name is Paul Tilley

from Paul TilleyDigital and welcome to this podcast. And today I thought basically I would share with you how I sort of started my journey of making money online and the very first place where I actually started to see some income coming from. And like a lot of people it was after reading Tim Ferriss book, I went out there and I started searching. It's quite a few years ago now and I came across the website Udemy that you may have come across or at least seen adverts from, not to be confused with Udemy which is like a

email in mass emailing sort of marketplace Udemy you d e m y is basically a platform where you can develop your own

courses and upload them and sell them. It's quite simple. It's quite a simple model really. And my background was basically developing courses and I was involved in education anyway. So there's a natural progression for me to sit in front of a camera and record myself and I went down the hole I was basically I did loads of different courses in sort of all sorts of different themes from how to start running

to various making money online type of gigs, and then at the time, there was a big thing about

selling on eBay, you know, sort of drop shipping from Amazon onto eBay. And that was working quite well at that particular time. I started dabbling around in that was trying to make some money. I wouldn't recommend that you know, Bali, and so far I know I could put this into course. So I developed a course and that now is totally dated.

But weirdly still make some money as people still buy the course is still there. I don't know why people buy it, but they do.

And I'm not going to move because he brings in some little bits of money here there. And if it helps people still, that's absolutely fine.

And I remember one month getting

in my paypal account about $600. And I couldn't believe it. I was like, Oh my god, you know, I can't believe this actually works. And, you know, basically, for me sitting down for a whole weekend and recording the course editing it, uploading it.

I'm still being paid even now. I mean, years later, I'm still getting little bits of money coming in from a course. And that's really the the passive income sort of dream, isn't it? You do work once. And then he pays you for sort of pretty much the rest of your life maybe if you really

get an evergreen type of course. So anyway, yeah. So Udemy was that was a great platform for me to start on. And I put quite a number of courses on there and had quite a bit of money come through now. The platform's changed quite a lot.

There's a lot more competition obviously, when I got on there, it was quite early on, they've changed their pricing structures. So it's not quite as lucrative as it was several years ago, but I still think there's an opportunity there for people to be making passive income. I think the key for places like Udemy is first of all to find

original content. I think if you do a course like you know how to make $1,000 in one day from Clickbank stuff as a is gonna be really saturated and just, there's probably just not enough people out there who want who would pay money for that. So I think a specific skill is really where a place like Udemy comes in. So if you are a specific skill that you could share on Udemy then

yeah, I think I think you would you would be in a good position start to make some passive income

That, that takes me nicely onto the other platform, which I think is a lot more lucrative now than Udemy. And that's Skillshare. Now scaf shares a great platform, I have recently signed up as a customer to there because I've been upskilling, some of my video work, photography, that type of stuff, and I've watched several courses. Some of those courses are incredibly, highly,

highly produced really good high quality, Film and Sound. So it's a very different platform to Udemy I felt with Udemy it's a little bit raw, it's a little bit you can literally just film yourself on your laptop and put Of course up there I think Skillshare

sort of you need to be a little bit higher spec.

And the difference is with Udemy. You can buy a course for say $10 and

And you'll have access to the course for the rest of your life. So people who bought my eBay course

years ago have still got access to the course if there's so desire. With Skillshare you basically pay so much a month I think it's about $8.

And for that month you have access to all these different courses you get paid yes of Udemy you get a percentage of that $10.

With Skillshare you get paid

a specific amount of for every I believe is every minutes that people watch your course. So the thing is there with Udemy you can put out your course quite a lot with fluff if you want to. If you want to have like a two hour course you can put loads of loads of extra stuff in there that is not really great content, but what sort of put out your course with Skillshare. If you do that, then what's going to happen is people are just going to start watching it and you you will see you want really high, you could do a short course for say 15 minutes. That can be really, really high quality.

In Depth content, and you would make, you know, good money from that, if that makes sense.

I think with Skillshare and I am earning some money from there, I definitely find that

courses that have a verse 22 very specific, unique skill

is where I made the money in Skillshare. And people follow your content and want to keep coming back to your content and keep wanting to solidify their learning, I guess. So, my advice to if you really go and Skillshare route is that you you teach some really high quality, one or two courses even a first choice but they're very high, high quality review to me. I've been probably the best strategy there is to have lots and lots of courses that may not be as high quality I would definitely lean more now towards Skillshare to develop in a

a course that's very high unique quality content. And doing, say, one or two courses that will do that. I know people who are making money from Skillshare, they're making really good money. And they may only have two courses on there. But

they do over on there is very high quality.

I hope that makes sense. As I say, I'm still earning money from both of those platforms even today. And that's years ago that I did these courses.

Even as I'm recording this, I'm thinking to myself, I should really look at, maybe they're developing some more courses and putting on there and because it does pay long term. And so I would say even if you're brand new to the whole area of making money online,

this is one way that you can start to do that. The second part of the strategy, I would say is to think wider. Now what you can do on Udemy you can

Quite do on Skillshare you can do on Udemy can offer free courses in Actually, I'm correct. I credit myself, you can offer free courses all also on Skillshare. So this strategy will work on both platforms.

So what you can do is, be clever. And think yourself, how can you get people from those platforms from Udemy from Skillshare, onto your own mailing list. And that as as as we all know, is where the real money is in that the mailing list is reselling, and reselling to a group. So for example, if you had a specific course in a specific niche, let's say,

a dog training for example.

Then you could try and get them to your, your email list, where then you could upsell to them for that mailing list. So you want to think about stuff like free downloads. So for example, in Udemy and Skillshare, you could say

Get my download this free PDF document that accompanies the course, when they download this, this document you could have in there if you want. If you want more free content, go to my

mail list and you can download a free ebook or something like that, I'll get access to more in depth content on the course. So you could basically do a free course, it would take a lot of time, a free download, but you get lots and lots of people onto your email list where you can then upsell and you've got them long term as well you know, in years and years time, you could still have them on your main list where you provide real content, and they want a paid course a higher pay course a higher ticket pay costs. So there's two ways that you can make money you can just sell the course. But I would advise that you think bigger and wider than that and you actually think about how you get them onto your email list and develop

content and long term customers paying customers from there. So that's basically how I started off making a good passive income that's still paying me money, even though there's other platforms out there as well as Skillshare and Udemy. I'm sure if you were still even just go go on google and type in

places to summer course.

You'd find loads out there, but those are sort of the big players really within that particular type of sphere. I hope that's helpful. Please visit me on Facebook on Twitter. Go to Paul Tilley there's some free content so you can get hold of their reach out to me be great to connect, above all, if you're able to leave a really nice review. Hopefully nice review of this podcast and we'll get more content. show interest in being a guest or you know, anyone who wants to be a guest again, reach out to me

Thank you for listening

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