Skillshare Passive Income: How To Earn Passive Income On Skillshare!
Passive income is the “holy grail” of most business owners and entrepreneurs.
Unfortunately, in most businesses, passive income is almost impossible. You can only get truly passive income by growing a business to a large enough size to sustain all the processes of the business while being profitable, and have a management team and oversight by boardroom executives. Even then, if you’re the business owner, you should probably be reading the quarterly statements! 🙂
However, the good news is that entrepreneurs and small business owners can build up assets online that generate “almost passive income“. One such mechanism is building an affiliate website that earns commissions over time. I built a website in about 1999 that has earned affiliate income from one merchant since the year 2000! All I had to do was keep the site running by checking on the server once in a while, and pay for the domain-name renewal fees. Sixteen years later, it’s still making money. (I have to admit, that’s very rare. No other affiliate program has lasted that long for me)
Another way to earn “almost passive income” is to put your saleable digital content on third party platforms. For example, you could put ebooks on Amazon Kindle, training courses on Udemy and teaching classes on Skillshare.
In a similar way to earning money as an affiliate, you’re not actually making the sale on a platform. Either Amazon, Udemy or Skillshare makes the sale, delivers the product to the customer, handles the technical aspect of running the website, deals with customer support and refunds. When you’ve uploaded an ebook or digital course, it’s available for purchase for weeks, months and possibly years, meaning each one can contribute to a passive income stream.
I’ve just released a class on Skillshare explaining how to use the platform for the highest amounts of passive income. You can currently enroll for free, here.
Basically, the way classes are ranked by default at Skillshare is their “trending” algorithm, which allows new classes to rank well. Unfortunately, that means old classes don’t rank so well, and can’t generate much residual income.
However, there are other ways classes can be found on Skillshare, namely keyword searches and the “Best” tab. Those two options give us a much better chance of passive income.
If you can get a class to the top of Skillshare when someone searches, which means optimising your class for specific keywords and gaining high enrollments, you can generate enrollments over time, which equals passive income. In the same way, if you can get to the top of the “Best” tab for your category through positive reviews and enrollments, you can also generate passive income.
Finally, by having multiple classes, you can “cross-pollinate” students from one class to others, thereby amplifying any passive income you manage to generate.
As you can see, it will take a while to build up residual income on Skillshare, but it can be done! 🙂
If you’d like more details on creating passive income at Skillshare, please take the class for free by following this link.