The Beginners Guide To Creating Your First Stream of Passive Income

Congratulations! You are one step closer to creating your first stream of passive income.

Once you get passive income coming in you can finally take a step back and breathe.

BUT FIRST! We have to get your income set up. Here is what we need to do:

  • Determine which form of passive income is right for you

  • Set up your sales funnel

  • Get people on your list

  • Let your products sell themselves

  • Rinse and repeat

Now, if that sounds simple, it really kind of is.

But simple doesn't always mean easy. Or, quick for that matter. We are about to put in a ton of time. And work. So let's not waste a single minute. It's time to get going!

DETERMINING THE RIGHT SOURCE OF PASSIVE INCOME FOR YOU

Now, this is going to look different for each person.

And it's extremely important that you go through this step first before you do ANYTHING else.

You're going to need to sit down and determine what is right for you and your business, based on your capabilities, time, and resources.

So, those of you who absolutely can not STAND to ever speak on a mic, an e-course may not be your best bet.

Are you someone who can't write out even a blog post without taking hours and dreading the whole process? Maybe let's not start with an e-book.

If you need help figuring out which source will work more for you, then grab this workbook HERE

It's easier to narrow down what income sources will work for you based on what you CAN'T do, because you will be able to take a few things out of the running easily.

After you determine the right source of income for you, then it's time to set up your funnel.

SALES FUNNEL SET UP

So, let's make this clear right here and now:

I can not give you EVERYTHING you could possibly need to know about sales funnels in this post.

BUT

I can give you what you need to know to set up a simple one and get it going right now.

SO! What can you do for a simple sales funnel, THAT WORKS, to get people buying your stuff?

Well, you're reading the first part of it right now.

WHHAAAAA????

Yup.

Blog posts are BOMB at giving people an idea of what you do know, how much of an expert you are, and that you are super fantabulously awesome at giving out info, before they pop in that ever important email address.

So, you've got to give it your all in that blog post. Or video. Whichever.

If you are a video queen and can post videos like it's nothing, then by all means, PLEASE send your peeps to your videos.

Are you a former journalist in a past life?

Blog posts will be your friend, love.

Start cranking them out.

But make them meaningful and make them rock. Make them count is basically what I'm saying.

So, now that we have the first step of your sales funnel down, time to work on step numbah 2:

That lead magnet.

Yeah, this is where you finally ask for that email address. BUT you've just wowed these lovelies with a badass post (or video) so you have to wow them AGAIN with the opt-in.

But don't think that quantity is better than quality here.

What I mean is, don't try to hand out hundred or two hundred page PDFs as your opt-in.

No one will read it and your funnel will turn into a colander in like 3 seconds.

No, what you want to do is give something punchy, awesome, and that flows with your free content.

Something that leads into your paid content.

And something that they can take massive action on in like 5 minutes or less.

Pfft, piece of cake. *insert slight panic here*

Look, I get it. That sounds like a lot of stuff to pack into an opt-in.

It can get complicated.

Orrrrrr.....

You can stop overthinking everything and just let your gut be your guide.

So, let's think of this funnel I've got set up for you here.

You're in the blog post phase now. Teaching you about passive income.

And the first thing we talked about, which is the most crucial part, is picking your source of passive income.

To help with that, I offered you up this fab workbook

Next, I'll offer up a quiz that will help you hone that down even farther.

And eventually, a course that teaches you everything you need to know about that particular source.

See how all of that flows?

How all of that just 'goes' together in such a way that the next logical step is to keep moving forward?

That is what you need to set up for your list.

Speaking of lists......

GETTING PEOPLE ON YOUR LIST

I've got one word for you:

Facebook groups and ads

Well, like, 4 words. But the most important here is Facebook.

Because, let's think about it.

How did YOU get here?

Uh-huh. Facebook, amirite?

Facebook is your BFF for advertising.

And what's super cool and badass and awesome?

You don't even have to really spend moolah to do it up right.

Think about some big names in our world. Who comes to mind?

Betcha at least one of you thought of Mel Pharr.

Because she's badass.

And she grew herself to be as big as she is, without FB ads.

Guess what else?

95% of my traffic, is free traffic.

WOAH.

I know, right? I like that too.

Going into FB groups, making yourself seen, known, and heard will help you grow your list.

Here is a sample of what to do each day:

Pick 3-5 groups that your IDEAL CLIENT hangs in *ahem, mine might be one ;)*

Post in there every day. And here is what you will post:

  1. in the AM post something either motivational or behind the scenes

  2. Something SUPER informative, all free info

  3. A promo IF it's allowed

  4. Something either motivational or behind the scenes, not the same thing as #1

And then, you are going to go into each group between those posts, once or twice, and pick 3 people who either have no one commenting on their post OR someone asking a question in your niche, and interact on that post.

That's it. This SHOULD NOT take you more than an hour, combined, all day. If you are living on Facebook, you are not creating.

But this will get you seen enough that you will start adding fans, clients, list members.

ALSO! BIG BIG BIG:

DON'T post a promo in the first day you are in a group. As a matter of fact, don't post a promo in the first week you are in a group. Wait till like, week 2. Otherwise, you will come off as spammy. You have to give people time to get to know you.

This right here, is full of actionable info that I want to see you acting on, right now. Today.

Do it.

Still have questions? Hop in my group and tag me. I'll help you.

Want something a bit more private? Email me: megan@meganrenee.org.

I've got your back.

YOU'VE got your back.

You're gonna win.