Those 2 beautiful words you see buzzing around the internet.."Passive income" and like me I'm sure you've thought, yo how do I get that?!
This is becoming my new zone of genius working with my 1:1 clients.
I'm finding most of my clients aren't just wedding professionals or service based businesses or small businesses. They are entrepreneurs in the making.
They've drank the entrepreneur Kool-Aid and now they're ready to dive in.
<WHAT to Sell>
When it comes to creating passive income there's 2 things we have to establish first:
1) What's your skill or topic you can't shut up about?
If your friend comes over and has no idea how to take nice pictures, do you get really excited to teach her about how to use her camera? Or maybe you have a friend that's thinking about starting an online business, do you light up at the idea of helping her put together designs for her business?
2) After you have your topic, let's find that market you can speak to.
Get really specific with the type of market you love working with.
For example: Some of my photography clients love working with women and especially with moms of young children. When we create their workshop, it would look something like this:
A photography work shop for new moms wanting to capture childhood shots.
When you create something, try to talk to 1 person, not everyone. Get really specific.
Okay awesome, now you have your skill, you have your market, now WTF to create right? This is what's so beautiful about this time in the world right now.
THERE ARE SO MANY DIFFERENT WAYS TO MAKE MONEY ONLINE.
If you have a knowledge or skill around a topic, you can make money passively.
<HOW to Sell>
Here's 5 ways you can create passive income with your knowledge + skills:
1) E book
2) Work book
3) An Etsy shop selling digital downloads
4) A course
5) An online work shop
Bonus: An in person workshop (it's not passive), selling physical products through Cafe Press, or selling stock photography images.
PS: Want more content like this? Check out my content library here.
<Actually Selling it>
Now that you have the thing created, let's start raking in the money right?
Okay so listen to this CLOSELY, if you do not have a strong email list, a strong social media following, or not a lot of traffic. Use another platform that will bring traffic to you.
For example: if you have a newsletter list with 20 people on it or no newsletter list, and you want to sell an E-book, sell it through Amazon Kindle (https://kdp.amazon.com/)
- You can use Etsy (www.Etsy.com) to sell a work book, templates, or stock photos.
- Sell a book through Amazone Kindle: (https://kdp.amazon.com/)
- An online course: Teachable: https://teachable.com/, Udemy: udemy.com, CourseCraft: https://coursecraft.net/
- Cafe Press, you design an item and they put it on the product: http://www.cafepress.com/
There still is hope if you have 0 traffic to your site or 0 people on your newsletter list.
There is a little bit more advanced way to sell a passive product but if you are a service based person and this is just a thing to make a little money on the side, please skip over this!
There are other ways you can promote your service or product besides this advanced way.
Advanced selling of a passive product:
Facebook ad > email funnel > optional webinar or work shop > pitch your item
Here's an example of how I would create a passive income with a client who is a photographer looking to make extra money outside of the wedding season.
1) She decides that she really gets lit up about teaching 20 something women about photography
2) We come up with an online workshop about Mastering photography for the girl who loves Instagram
3) My client has about 800 Instagram followers and we can definitely convert a couple sales because a lot of her followers are creatives and girls around that age
4) We pre-test the idea, and ask around to a couple Facebook groups and if they would take a course like that
5) We build up a launch to the workshop and aim for a goal of 5 seats in the live workshop
6) She hosts the work shop and make sure it's recorded
7) She then sells the course through her website with a work book
8) She falls in love with educating and creates more! Yay! :)