Do you want to add passive income to your business? Wouldn’t it be nice to keep getting those “you’ve made a sale” e-mails – even when you are sleeping? While I think that creating a purely passive business is an impossible goal – I do think that having a passive income stream is important in any business.
Do you have some passive income set up? If not, stop making excuses – you likely have what you need already.
If you are involved in online marketing – you are probably constantly creating content. Either by posting on your blog – or even by answer questions on forums, Facebook, etc. Plus, there’s the content you are posting to Facebook (other than your blog posts). All of that content can be repurposed into passive income streams (and these are not just $10 e-books) – Click here to sign up for my latest training series – one of the videos shows you how to turn a $10 e-book into a $20 product.
There is really no reason why you can’t take what you have now and create something that will bring you more prospects (and more buyers) each and every day. Here are some hints for you.
STEP 1: Blog Every Day — Many of my clients neglect their blog (OK, I admit, I’m guilty of this too) . They may think they have enough clients through referrals, or they may just feel as if they don't have time to blog. But the fact is, blogging every day can add tremendous value to your website and attract more visitors. You can make money passively through your blog by recommending tools and other resources to your audience. When I host the Ultimate Blog Challenge and blog daily for 30 days, I always notice an upswing, in traffic, newsletter subscriptions and sales.
STEP 2: Create a Comprehensive Report — Turn a “How To” blog post into a longer report, add several blog posts, some PowerPoint slides, and video and sell it as a comprehensive “How To” kit or report. People love all-in-one items because they don't have to weed through websites to find the information, they can just download a kit and learn fast. I show you exactly how to to this in the free training series.
STEP 3: Compile Your Work Into an EBook — You can edit, reorder, and add to the blog posts on your website to create a comprehensive complete book about your niche or your story, depending on what types of content you put on your blog and sell it as an eBook. If the content is completely original you can sell it as a Kindle book. You can also create an e-course from the class – or a webinar. The possibilities are endless.
STEP 4: Create a Membership Site — Once you have a few products, you can now put them all behind a pay wall and sell them within your membership website. Include a forum and you have group coaching, and user added content at its finest. Many people will pay a small monthly fee to be able to access your work. You don't have to include everything you have in the membership site either to make a lucrative recurring income from memberships.
Once you’ve set all this up, don’t forget to keep asking… Let your customers know the next steps each and every time. If you do this – you’ll create a nice source of passive income for your business.
What are your favorite passive income streams – let me know in the comments. And if you need more help with this check out my Highly Paid Authority free video series.