How do I earn passive income?
You know the “dream,” right? Swaying in a beach hammock while your business bank account grows—all thanks to passive income! But… what does that really mean? And what can you do today to start earning passive revenue, scale your business and do more of what you love? We can help.
This month’s guide shares:
How to earn passive income
The opportunities are endless.
No matter your skill set, the opportunities for passive income are endless. It’s not only course creation or selling photography prints. Instead, you can earn passive revenue from membership sites to speaking opportunities. Don’t limit yourself. Start with this guide to determine what exactly your potential for passive income can be, and get to work in building it out on the front end, so the opportunity for selling continues to grow.
Start with content.
Not sure where to begin? Don’t let intimidating overwhelm hold you back. Every successful passive revenue stream starts with valuable content, leading as the expert, and building your audience of loyal followers. Then, once you’ve got your content strategy rolling, don’t forget about the chance to sell with a high converting email funnel. Get the key tips in the guide that will make you money in your sleep.
Follow up with marketing.
It’s true… passive income is a misnomer. While it may sound like a “set-it-and-forget-it” kind of revenue stream, the key to earning potential is in the follow-up. It’s in the marketing. Once you’ve built your passive product, launched (maybe even with affiliate marketing), and started seeing those dollar signs roll in, you’re not finished. Continue with your marketing, content strategy, and more. Finally, every passive income launch is the opportunity to evaluate the success and where you can improve… and build out a better product and process the next time. It’s a passive income journey, not a destination.
What’s Inside - Passive Income
The word “passive” makes you believe you don’t really have to do the work, right? Phyllis shares the myth about passive income and how shifting your mindset toward “leveraged income” can get you one step closer to swaying in a hammock under a coconut tree while your bank account grows. Her quick tips help you know where to begin in your passive (leveraged) income journey.
If you want to sell… you’ll need people to sell to. Paige shares the absolute necessity you need in your business (even before you have a passive income product idea!), and how to attract the right people who are ready to buy. Think you know what her trick is? We’ll bet you could start with it TODAY.
If you want to create true passive income (earnings derived from an enterprise where constant action isn’t needed) you must do these three steps to run on autopilot. The best thing about Bethany’s steps? They will clue you in to places where potential revenue is possible for you (or could be right around the corner!), and how to diversify so you’re not dependent on one type of income. From tips about what to outsource in your plan of action to how to find what passive income works for you, her article helps you get started.
When you have a captive audience, selling and earning passive profit is easy. But how do you get that captive audience? Aleya shares how to capture the attention of your ideal customer, what needs to happen before you sell, and how to actually make the ask so your business can profit. That captive audience is there to engage with you (and purchase!), after all.
It’s no secret that there is a plethora of opportunities to share your knowledge and expertise with your audience. However, one that can position you has the expert and go-to purchase to learn from (and purchase from) in the future is creating online courses or membership sites. With this kind of passive profit you’ll surpass your competition and profit now and in the future. Shafonne shares the 5 reasons this should be your next passive profit venture.
“Wouldn’t it be amazing if you could ditch traditional marketing efforts and build a team of people who sell your product FOR you?” Sure would, right?! Zoe shares how the connections at your fingertips can be exactly the team you need to create a successful affiliate program. This collaborative strategy creates a strong “social proof” endorsement and gets your passive product in front of the eyes of great potential customers. Still not convinced of the benefits?
Laylee Emadi Smith
If you’re ready to diversify your profit streams and increase your potential for passive profit sales, diving into education and speaking is a great option. Laylee, an Educator for Creative Educators, shares the top four things you must do when pitching yourself to speak… and the two pitfalls to avoid. Her tips are guaranteed to help you take the next step toward the stage (without missing the mark entirely)!
Disclaimer: The advice featured in this guide and on the blog was sourced from our community members for sharing general information and knowledge. For specific legal, financial, tax, mental health and professional advice, please consult an authorized professional.