Passive Income

Johnny / May 9, 2021

How Passive Income Can Save Your Business

In today's connected world, passive income is more than just an idealist's dream. Many coaches and consultants are achieving financial stability and maximizing growth by implementing passive income strategies. This approach creates exciting new possibilities. Multiple income streams can cover any revenue gaps when business is slow. However, you need to invest considerable time and effort to start earning money as a side hustle. You should pick the right source of passive income that suits your coaching niche. Here are some of the passive income ideas for your coaching business. eBooks Publishing an eBook enables you to generate income to save your business while showcasing your expertise. Platforms like Amazon Kindle Direct Publishing (KDP) provide a convenient way to reach hundreds of thousands of readers from around the world. You can capitalize on your subject matter expertise to publish bestsellers that boost revenue. Some authors who opt for self-publishing sell …

Johnny / July 9, 2017

Creating Products Your Clients Will Actually Buy

I’m a big believer in creating passive income for your online business but many online business owner don’t know what to offer or think that their one-on-one consultation services are enough to sustain their lifestyle. Sure, your clients hire you for your specific skillset and specialty but wouldn’t you like to earn more in your business? Wouldn’t you like to cash in on the phrase, “Make money in your sleep”? Wouldn’t you like to reach more of your target audience who aren’t quite ready to purchase your big ticket consultation packages? This is why you need products to sell in addition to your consultation services. What Will They Buy? A simple way to determine what your audience needs is to simply ask them. Create a survey with Survey Monkey and ask your followers on social media and on your email list to complete it. Maybe what they are looking for is a simple ebook or a workbook. Others may be looking for a class to resolve their particular problem. Also ask your …

Johnny / July 9, 2017

Make money while you sleep

Have you heard the phrase, “Make money while you sleep”? It’s a common phrase thrown around the internet marketing world that describes the power of passive income. Make a product one time but reap the rewards for years to come. Passive income can benefit absolutely everyone, no matter what type of business you have. The key is to make the product creation as simple and as inexpensive as possible. This doesn’t mean your product will be cheap; it means you should focus on your area of expertise and solve a common problem among your audience. Let’s review why online business owner need to create a stream of passive income Supplement your income when a client cancels their contract. No one wants to think about losing a client (or two!) but it happens. Instead of panicking at the idea of finding a new client to fill that space, you can approach the task calmly, knowing you have passive income to fill that gap temporarily. Expand your name recognition and attract new buyers from …