New Income Sources To Make $1 Million In A Year In 2021 Best Strategy Ever
Introduction Of New Income Sources To Make $1 Million In A Year In 2021 Best Strategy Ever
New Income Sources To Make $1 Million In A Year In 2021 Best Strategy Ever. One million dollars a year is very possible it is a very high income don’t get me wrong but I do believe that if you dream big and you take big action you can make your dreams come true so yeah I’m gonna go through my sources of income describe what I do for each one as well as how much I plan to make in each of them I’m not gonna include gains from the stock market or investing because that stuff is really out of my control and I don’t know what I’m gonna make in those fields so let’s get started so the first way I plan on making money this year is through real estate and mortgage commissions and with this I plan to make about 100 000 this year I’m a licensed real estate broker and I do have my real estate brokerage here in southern California.
Real estate and for mortgages you make money on commissions every time you sell a house or help someone
So with real estate and for mortgages you make money on commissions every time you sell a house or help someone buy a house you get a commission and every time you help originate a mortgage you also get a small commission as well so in the real estate industry agents will normally make 2.5 on any sales they make this can add up to a lot of money especially if you’re living in a high cost of the living area here in southern California where homes are always at least 500 000 and up this can mean some pretty big commission checks so yeah if you sell like a one million dollar house you should expect a commission of about 25 000 since I don’t want to take on too many deals this year I will be making some money through referral fees and basically what that is is if I refer someone to another agent I’ll generally get about 25 of whatever commission.
They make I also make a little bit of money each time one of my agents in my brokerage sells or buys a home but that’s not going to add up to too much as my brokerage takes only about 800 per transaction and then on the mortgage side of things this is generally where you make between 1 to 1.5 percent of every loan that you originate I work for a family friend she has a mortgage brokerage and basically what we do is we help clients who are looking to buy homes get mortgages the company works with a bunch of different lenders so basically what we do is we go through all the lenders and we pick out the one that works best for that client then essentially.
We are the middleman we get all the client’s information send it to the underwriter and help get the loan approved and funded like I said I’m not going to spend too much time on this stuff this year because I want to focus on my other sources of income but yeah the plan right now is to make about a hundred thousand dollars from real estate for my brokerage and mortgages, okay the second source of income is e-commerce and I plan to bring in about 200 000 this year but of that 200 000 in revenue, I think only about 60 000 is going to be profitable so what I do is I sell products on Amazon and it’s through their program called amazon fba.
Research about e-commerce you’ve probably heard about fba but basically
If you’ve done any research about e-commerce you’ve probably heard about fba but basically what I’m doing is I’m private labeling products that I have made overseas I buy them in bulk and then I send them over to amazon’s warehouse their amazon helps me store the items they help me sell the items and they help me ship the items and do customer service so really it is quite a passive business don’t get me wrong the start is quite hard and you do need to invest a good amount of money but once you get a few uh good selling products then really this becomes quite passive in the last year I have stopped focusing my attention and time on amazon.
So I’ve scrapped some products I haven’t been adding new products to my catalog and yeah really the whole business is not as optimized as it should be however that doesn’t mean that it’s not a cool source of income I think eCommerce is amazing I think it’s perfect for some people but right now I am focusing my time on other sources of income which I will be talking about now if you guys are interested in learning more about amazon fba I will link a video I made which will show you exactly the steps I took to start my own amazon fba business it’s getting harder and harder but there’s still so much money to be made in this industry my third source of income is youtube AdSense and from Adsense, I plan to make about 250 000 this year if you guys.
I assume you guys do you’ve seen ads I mean every time you watch a video they probably pop up before and sometimes they pop up in the middle of videos as well I just want to say thank you for watching the videos and I guess seeing the ads because that does help support the channel I spend a lot of time making these videos and ads are a great way to make money for any youtube creator now you might be thinking how could you possibly get 250 000 in AdSense luckily my channel is in the personal finance and entrepreneurship niche and so when I make videos about these types of topics the pay is extremely good if you look at my CPM which is my cost per ml which is the amount that advertisers pay per 1000 views you’ll see that it’s in the mid-30s that means that for every 1 000 views on my channel an advertiser is paying about 35 of that 35 I get 55 of it and youtube takes their 45 cuts so right now.
My highest Adsense month ever and most days I make about 1 000 sometimes it dips under
I’m in my highest Adsense month ever and most days I make about 1 000 sometimes it dips under and sometimes it goes above that and in January 2021 I should earn about 30 000 on Adsense which is the highest it’s ever been if you take a look at my other months you’ll see they range between like 10 to maybe 15 000 so, yeah to hit this 250 000 mark I need to keep up this higher AdSense but yeah AdSense it is all over the place I don’t have so much control over it so that’s why I was a little bit conservative in my estimate the fourth source of income is going to be affiliated and with affiliates, I plan to make 200 000 this year.
I’m trying to grow affiliates this year because I think it has so much potential if you guys want to learn more about affiliate marketing I will also link one of my videos down below but basically what affiliate marketing is I’m able to put affiliate links in my descriptions of my videos and when people click on those links and either purchase that product or that service I will get a small commission it is a win-win for everyone right like the company that has the affiliate link gets a sale I get a small commission and the viewer gets some value from my content and doesn’t pay any more money by using my link affiliate marketing is a booming industry and it’s a great way for anyone to make passive income online, however.
I do think that you need to be proactive and smart with your content strategy to see good money from affiliate marketing for example if I didn’t do a lot of research if I didn’t optimize my channel for this I’d probably be making only like 30 000 a year but with the way that I’ve optimized it and the types of content that I’m making I do hope and think that I can make 200 000 this year the main thing about affiliate marketing is you have to give a lot of value because if you don’t give any value in your content then no one is going to use your links so basically what it is is it’s an exchange of value I spend a lot of time making these videos trying to make valuable content that helps people and if there is a product or service that is connected to that and of course.
I started doing this more in the latter half of 2020 once I started having a sizable audience
It has to be a product or service that I do believe in or use myself then I recommend anyone that wants to do affiliate marketing to work on your content first and then start building good relationships with these affiliates find out which ones work well for your type of content and then make a lot of searchable content that helps people out if I do that and I continue to optimize my channel I do think that I can hit this 200 000 number and for any of you guys in the last year all right my fifth source of income is sponsorships and brand deals and with this, I plan to make 150 000.
This year this is a relatively new stream of income and I started doing this more in the latter half of 2020 once I started having a sizable audience that’s when I started to think about putting integrations into my videos so if you check out some of my videos I’d say maybe one out of every three I have a sponsorship those advertisers are paying me a flat sum of money for me to talk about their product or service in the middle of my video and this is also another great way for youtube content creators to monetize their channel in addition to these integrations on youtube I also do sponsor content sometimes.
Now with the stuff you have to be very proactive, I get at least 10 to 20 emails each day looking to partner on a video but you have to sort through them because 95 of them are junk and you want to only work with companies that are reputable and have a great product or service in the last year I’ve gotten a good sense on how to negotiate with these companies and it is pretty complex and complicated right now I am doing all this by myself I don’t have a manager and yeah it does take a lot of time there’s a lot of back and forth there can be a lot of compliance and you’re also given the stress of if this video doesn’t perform well then.
You know they’re not going to come back and sponsor another video I can’t go into detail on how much each of these sponsorships pays me but they’re all in the four to five-figure range if I continue to do what I’m doing with my sponsorships I do think that I can hit 150 000 this year which one I think about is crazy right like that’s a lot of money but these companies they have so much money they have a big marketing budget and they have come to realize that influencer marketing is probably the best way to spend their money all right the sixth source of income is courses and with courses, I expect to make about 70 000 this year this is a pretty small portion of my income but I do think it’s one where I might severely miss this target or I might make way more than 70k.
How much my students loved it that encouraged me and it made me think courses can help people
I have no idea it comes down to how much I market my current youtube academy as well as if I decide to make any more courses this year now with my six-figure youtube academy after seeing how much my students loved it that encouraged me and it made me think courses can help people it’s just like a paid version of my youtube channel right you have all this free content on my youtube but people want a more step-by-step and actionable approach then that’s where a course might make sense and yeah I know there’s a lot of drama surrounding courses I know people think that any course is just a scam and really.
I think there’s truth on both sides I think there are a lot of courses that aren’t good and are a waste of money and there are a lot of courses that can help people my thinking is you do not need to buy a course to be successful in anything, for example, I did not purchase a youtube course to make my channel I did this all on my own now tentatively I do think I will be making some more courses but I have no guarantee how those courses will perform so, for now, my target for this whole section is seventy thousand dollars and of the seventy thousand dollars I do think most of it should be profit because.
My sales come from my organic audience and I’m not paying for any ads are the last source of income I’m going to name miscellaneous because if you guys have seen any of my other sources of income videos you know that I do a lot of different things in this category I hope to make about 30 000 this year so now let’s go through the list of things that I’m going to place into this miscellaneous category the first is coaching and every once in a while I’ll hop on a one-on-one call with someone that wants to learn directly from me these are normal people that want to sort of leave their job to create a new source of income build a youtube channel or just get some insight on how to live a life.