Starting passive income at any age is possible without a college degree: 'The right time to start is always now'

In 2009, when I began my career as a social media marketer, I lacked a comprehensive strategy. Despite dropping out of college two years prior, I was passionate about creating content that maximized the potential of social media.

I am the author of three books, a global speaker, and an award-winning content creator specializing in motivational productivity and business. My business generates approximately $18,000 in passive income each month, based on my calculations from the previous month's deposits. Additionally, I coach clients on developing profitable personal brands and business models. All of this is accomplished while working only four hours a day.

My work has undergone a significant transformation over the past 15 years, and that's perfectly fine. It's not necessary to have a flawless concept to begin; in fact, the biggest obstacle my coaching clients face is allowing perfectionism and fear to prevent them from taking action.

I have imparted to my clients the knowledge I have acquired about overcoming hesitation, perfectionism, and fear in order to establish a successful business and generate passive income.

Perfectionism is just a fancy word for procrastination

When my clients mention they're waiting for the "ideal moment" or postponing until their idea is "flawless," I understand they're actually afraid to begin.

While it may seem like perfectionism is the epitome of productivity, it's actually just a form of procrastination dressed up in fancy clothing. We feel like we're making progress, but in reality, we're simply delaying the actual work.

My client had been planning to start a YouTube channel for two years before working with me. After realizing that perfectionism was just fear in disguise, she filmed her first video using her phone in her living room. Despite its imperfections, it led to her first 100 subscribers, and now she has a thriving YouTube channel with an audience of potential customers.

The ideal conditions are not present, but the best time to begin is immediately.

Success is only possible through failure and imperfection

Each embarrassing moment I've experienced, such as committing grammatical errors or missing significant business milestones, has taught me valuable lessons that have improved my business in the end.

My initial YouTube video on social media marketing was poorly lit, unscripted, and filmed with a bed in the background. Despite its flaws, it marked the beginning of my journey towards improving my skills and eventually leading to my first course and passive income.

If I had waited for the perfect equipment and set, I might never have made any passive income.

Despite my perfectionism, I still have to overcome it! I recently made a video while my daughter was sick, with barely any sleep and no proper filming location in our new house. I shot the video anyway, but almost didn't post it because I thought I looked tired and the energy wasn't right.

Despite the imperfection of the video, it has generated over $7,000 in passive income through ad revenue and sponsorship.

Don't let the opinions of those who are not directly involved in the risk-taking process affect your feelings about your work.

My 3 favorite strategies to overcome perfectionism

Here's what works for me:

1. When I started my YouTube channel, my aim was to improve my communication skills on camera. This change in perspective relieves the stress on each piece of content and transforms "mistakes" into valuable learning opportunities. By focusing on a goal within my control, all I needed to do was practice and soon enough, I became an expert communicator.
2. To avoid endless tweaking and focus on progress, set a reasonable timetable for completing a project, such as 24 hours. I employed this approach while writing my first book, "Vlog Like a Boss," and managed to finish the manuscript in less than a month by writing a little bit each day. The book has since sold approximately 20,000 copies across various formats.
3. When we first launched my signature paper product, "The Good Morning, Good Life 12-Month Planner," it wasn't perfect. However, by listening to our customers and making updates, it has improved over time.

Turn imperfection into an advantage

My stumbles have become valuable lessons. When I share my "failure stories," such as my unsuccessful early speaking engagement or underperforming product launch, people open up and form genuine connections. By being honest about my struggles, my audience will respect me more.

The key to earning passive income is through persistence and a willingness to learn from mistakes.

Amy Landino is a personal brand coach and the creator of AmyTV on YouTube. She teaches how to earn passive income online through CNBC's course. Follow her on Instagram.

To earn extra money online, sign up for CNBC's course on passive income streams, which includes tips for getting started and real-life success stories.