Leverage income is the best type of income you can develop for your financial growth and success. Money coming in from leverage income also flows continuously. This ladies and gentlemen is how leverage income can make people rich.
I’m going to provide you with leverage income ideas below so you can begin transforming your life this very day.
Welcome to Franknez.com – the blog where you can digest content on personal finance, side hustle ideas, entrepreneurship, and trending investing topics.
Lets get started!
What is leverage income?
Leverage income is income you earn multiple times for doing the work once.
The Power of Leverage Income
Leverage income allows you to get paid multiple times for doing the work once.
This is how you get to enjoy your favorite trips knowing you’re making money no matter where you’re at, or what you’re doing at the time. This type of income is also passive income, only better.
And let me tell you, the feeling is amazing! Leverage income is the true path to financial freedom.
Imagine earning money in the background. That’s what this feels like. While most people only earn money by trading their time 8 hours a day, rich people figure out how to make money in their sleep.
Wealthy people make money 24/7
By now you might already be getting a grasp of how leverage income can make you rich.
It’s this concept of making money 24/7. The crazy thing is that nowadays there are a lot more ways to set yourself up for this type of lifestyle.
The key here is to scale valuable content online.
There are numerous ways from which you can provide value at scale online. Here are just a few:
- Create a blog and monetize it with ads
- Share video content on YouTube and monetize your videos with ads
- Sell business tools online such as templates or spreadsheets
- Start a podcast on Spotify and earn money per stream
- Open a subscription based service
#1. Create a blog
Blogs allow you to earn money multiple times over. One blog post can earn you several hundred dollars when monetized and with enough viewers.
And this is with only one blog post! You can scale by increasing the number of blog posts you publish and number of readers you bring to your website.
You can start a blog today with as little as $3.95/mo. using Bluehost, the #1 webhost provider recommended by WordPress or with WIX for free.
Blogging has allowed me to earn money no matter where I go. Although growing my blog has been quite the challenge, I love every part of this journey.
Blogging might be for you if:
- You absolutely love to write
- You have skills and knowledge you need to share
- The thought of running and creating a blog excites you
#2. Leverage YouTube views
If you love creating videos then YouTube can be a great platform for your leverage income project.
Like blogging, YouTube uses ads to monetize their content creators videos. People are earning passive income by only creating a piece of content once!
When your YouTube channel has been approved for ads, every piece of content you put out will begin to generate you passive income moving forward.
YouTube might be for you if:
- You love being on screen
- You’re extroverted and love to show your smile!
- Feel you can engage with your audience more via. video
Millionaire YouTubers in my niche of personal finance include: Graham Stephen, Andrei Jikh, and Marko – WhiteBoard Finance.
#3. Sell business tools online
You can create a spreadsheet, PowerPoint presentation, or marketing templates that can be useful for startups.
People can purchase these products online prior to downloading them. If you manage to create something useful then expect to see online sales quite frequently.
The cool thing? You only had to create it once.
Selling business tools online might be for you if:
- You have Excel, PowerPoint, or Word skills
- Own a business and understand what your industry might need
- Want to improve peoples workspace online
Where can I sell business tools online?
You can use platforms such as Fiverr and place yourself in a specific niche topic where people are looking for tools like what you have to offer.
People are using Fiverr to sell marketing tools, digital goods, and more!
#4. Start a podcast on Spotify
Spotify pays you per stream. Starting a podcast to earn leverage income is a no-brainer.
People are listening to podcasts now more than ever. Podcasts are super convenient to access information while on-the-go.
Grow your number of listeners to scale that project.
Podcast is for you if:
- You love to interact and conversate with people
- Have fun and feel comfortable with a mic
- Your voice connects well with an audience
I personally like listening to Andy Frisella and Joe Rogan.
#5. Use a subscription based platform
Patreon is a platform that lets your most passionate fans support your creative work via monthly membership.
Patreon allows you to provide further value to your closest following. You can let your subscribers in on exclusive content for their support.
This monthly membership is a great way to earn leverage income while providing your followers with unique content only distributed to them.
I think everyone should use this once:
- They’ve established a following in any venture
- Your newsletter has grown
- You’ve created exclusive content specifically for your subscribers
What is residual income?
Residual income, like leverage income, is income that you continue to receive after the completion of an income-producing job or project.
Residual income can also refer to the net income after all expenses are deducted from your personal finances.
This term is completely acceptable when discussing passive income that’s generated through leverage.
Residual income examples
Some residual income examples include:
- Real estate income
- Money from consumer goods such as digital music streams and books
Musicians and artists
Musicians and artists earn residual income through streams. They get paid a royalty every month.
Independent artists can also earn money through their streams using a distributing service such as DistroKid.
Accumulating wealth has never been easier
A lot of these money-making projects are actually most people’s hobbies. This means setting yourself up to amass wealth has never bean easier.
With the proper platform you too can begin creating content and getting paid continuously for the value you provide.
You deserve to do what you love and get paid for it. That 9-5 isn’t part of your entire existence.
Amass a big audience for riches
At some point of your journey you’re going to make a penny online. Then two. Eventually, you’re going to make your first few dollars then hundred.
You’ll see that the key to obtaining riches online is to grow your audience no matter what your pursuit online is.
Leverage income flows abundantly when you amass a big audience. This is why there are bloggers and YouTubers making 5 and 6-figures per year and even per month! All it takes is time and absolute dedication.
Leverage income works best when scaled
Scaling your audience is key. Are you ready to take the first steps towards financial freedom? Let me know in the comments section below which way of earning leverage income best suits you!
For more like this, read: Earn passive income with these 5 guaranteed strategies
Support the blog on Patreon.