12 Different Sources of Income I've Tried | My First Million

💸Creating supplementary sources of income can help you reach your first million faster.

📺YouTube adsense can provide passive income, but earnings depend on factors like CPM, category, and location.

🎙️Speaking engagements and webinars can be financially rewarding, especially when you establish expertise and credibility.

🏡Real estate referrals can earn you additional income by recommending properties and working with reputable agents.

💳Affiliate commissions and referral programs can provide income by recommending products and services to your audience.

Which source of income was the most lucrative for you?

—Sponsorships and real estate referrals were the most lucrative sources of income for me.

How much time did you spend on each source of income?

—The time spent on each source of income varied, with YouTube adsense being more passive and other sources requiring active effort.

Did you encounter any challenges with any of these income sources?

—Each income source had its own challenges, such as competition in the YouTube adsense market and finding reputable brands for sponsorships.

Do you have any tips for someone looking to diversify their income?

—My tip would be to explore different income sources that align with your interests and expertise, and to focus on building credibility and providing value to your audience.

What advice would you give to someone starting their journey to their first million?

—I would advise them to be strategic with their time and to focus on creating supplementary sources of income that align with their skills and passions.

00:00Introduction to the video and the importance of supplementary sources of income.

02:20Discussion of the first source of income - full-time job and the concept of 'return on time'.

09:55Overview of YouTube adsense, including factors that affect earnings and the passive income component.

13:09Explanation of sponsorships as a source of income, including the importance of choosing reputable brands.

17:53Discussion of speaking engagements and webinars as sources of income, highlighting the need for expertise and credibility.

19:59Overview of real estate referrals and the potential for earning additional income by recommending properties.

23:24Explanation of affiliate commissions and referral programs as income sources through product recommendations.

29:14Discussion of capital gains and the potential for earning from buying and selling investments.

30:29Conclusion and final thoughts on the different sources of income discussed.