Ever notice how when people start talking about creating passive income and their success with it, they really don’t get into the nitty gritty strategy with it?
It’s usually something like ‘I creating $10k the past month with all passive income!’ Which is great….but like, HOW did you do it?
Did you use e-courses?
Were there PDFs, videos, combination, like…WHAT did you do?
Did you spend a lot of money to start out? Can you start out doing passive income on a budget? How long is this going to take me?
If you are tired of running around constantly trying to make ends meet, wondering where your next client will come from, and really wanting to up-level your passive income game, you are wondering how to get that started, right?
Let me break down exactly what I do to get a stream of passive income flowing.
How I Start a New Stream of Passive Income
Now, when it comes to starting a new stream of income, many think it’s as simple as ‘set up a self study course, send ads to it and boom, I’ll make some money’
If it were that simple, life would be amazing and I’d be chilling on a beach sipping wine with 80 billion dollars to my name. Or something like that.
And while it’s not the most complicated process in the world, it’s certainly not as simple as that.
Because let’s face it, you may be the coolest human being on the planet, BUT if someone has literally never heard of you before, they probably aren’t going to buy. PLUS, you need to figure out what exactly it is that you want to do for your paid piece of content before you really start tossing it out there for the masses to consume.
First of all, you need to figure out exactly what it is that you want to put out there.
Self study course?
Maybe some Etsy digital products?
All of these are awesome ideas. And most work for most business owners. However, they aren’t all made for all business owners so you really need to work through which one works best for you.
Creating Your Product
So, this step will look different depending upon what product it is that you decided to start selling.
Your self study e-course production would not look anything like production for Etsy products. You get the idea I assume.
However, there is one process that will look the same. You need to create a freebie opt-in based on the product that you create. And you need to do it AFTER you know exactly what it is that you are going to be selling.
You’re probably thinking ‘uh…why?’
I mean, you might be thinking that. I’m not sure.
Even if you aren’t, I’m going to tell you why: Because you want your opt-in to tie into your paid offer. And you want it to tie into that paid offer HEAVILY.
In fact, you want them to be so similar, and you want that paid offer to build on your freebie so well, that everyone who sees it HAS TO HAVE it.
Your opt-in is going to sell your paid product for you.
And that is going to be how you make this form of income truly passive.
But how is this opt-in supposed to sell your paid product for you, you ask? By creating one of these bad boys
Set Up Your Sales Funnel
It’s time to talk about those dreaded sales funnels.
I get it. They can be hard to understand, and even more complicated to implement. BUT, in the long run, they are going to be ah-mazing for your biz.
A well done sales funnel will sky-rocket your business and make it so you never have to sell again. Your free content, which will be BOMB, will do the selling for you. All you have to do is create, sit back, and relax. Everything else will fall into place for you.
Here is a rundown of a very basic, but VERY well done, sales funnel:
Blog post-create an amazing blog post full of great information (like this one here wink wink)
Opt-in- promote your opt-in a few times in your blog post. You’ve given away TONS of value before asking for an email address, so people will be much more willing to give you that ever important email address
Thank you page- promote your intro offer on your thank you page. Sometimes, you’ll get lucky by impressing some people and they’ll want to sign up right now.
Email sequence- Here is where most of the magic happens. Don’t sell in your first email to your brand new subscriber. That’s not cool. In fact, you need to get about 3 emails in before you pitch. And don’t pitch slap then leave. Make it nice. Show your value. Show your worth. Make them want it.
Downsell- did they buy? No big deal if not! You can downsell. Create a lower priced version of your e-course that is only PDFs instead of PDF and video. Send them that, and then let it go. Kill them with tons more free info. And keep on moving
A well done sales funnel will keep you rolling in that passive income like nobodies business.
You HAVE to do the work upfront. You have to spend time and energy making it worthwhile. Then, you get to reap the rewards for weeks/months/years to come. It’s great. It’s effective. And it will keep you out of that daily hustle and bustle.
Still need help coming up with what exactly it is that you want to offer to your ideal clients?