What is passive income? Passive income is income that requires little to no effort on your party to earn more money (after you created it). Like, you can literally make money in your sleep!
Does it sound good to you?
Girl, me too!!!
But before we dive into the good stuff, here are 4 reasons you NEED passive income in your business.
Make money in your sleep and have peace of mind
Gives you space to be the CEO of your business
Spend time doing what you love
Allows you to invest in what you want without stress
So what are the 4 ways creatives can add passive income to their business?
1. Online Products
Online products you create once and you're done. All you need to do is think about how to market and continue getting sales.
Some great ideas for online products could be: ebooks, templates, downloads, stock photos, overlays, graphics & digital art and more.
2. Affiliate Links & Programs
Being an affiliate is basically getting paid for your review and recommendation. You can become an affiliate with Amazon and get a percentage of sales. You can also apply to be an affiliate with Commission Junction, Share a Sale and Reward Style so that you can be an affiliate for big stores like Old Navy, Hobby Lobby, etc.
You can also become an affiliate for smaller companies like Flodesk, Kajabi, the Day Planner and more. Just look at the bottom of companies website and see if they have somthing like "affiliate program" or "referral program"
You can also become an affiliate for other peoples courses or membership sites whcih is pretty cool
I'm going to be adding an Affiliate Program Section to The Revenue Party Course next spring, so if you purchase The Revenue Party now for just $197 you'll get that additional module for free!
Courses is an AMAZING way to not only have passive income, but to also have a great impact on your ideal client. A course is an A-Z formula that you are teaching your client. Don't get overwhelmed or sad because someone else is already doing your idea, we need YOUR course the way YOU teach it!
Next week episode 50 we're going to talk about the different type of courses you can create as a creative.
4. Membership Sites Membership Sites are my personal favorite! I love having a community of people I teach and get to know, I love all the creation and the monthly income. Because unlike a course or digital products, a membership has the same people paying you month in and month out and your income is more stable which is AWESOME!
In the Revenue Party we talk about how to create a membership site so that you're not on the content creation hamster wheel because that's not fun for anyone.
So girl, are you excited?!
Do you have so many ideas going through your head about how you can add passive income to your business?
I sure hope so!
The Revenue Party Course - Make Money in Your Sleep
P.S. Are you subscribed to my podcast? If not, go subscribe HERE! I don't want you to miss out! I’m adding a bunch of bonus episodes to the mix and you might miss them if you are not subscribed.
P.P.S. Affiliate links in this post :)
You are confident, successful and have so much potential. You got this, girl!