Passive Income: What It Means and How To Earn It

Real talk: What if I told you there’s a way to cut your 40+ hour work week in half and make the same amount of money? What If I told you there’s a way to cushion your bank account while drinking Mai Tais in Hawaii, dropping your child off at school—or better yet—getting a full eight hours of sleep every night? 

If the thought of skyrocketing your sales without the constant hustle fires you up, then you’re in the right place.

Today, I’m letting you in on a BIG secret that’s allowed me to 5x my income from 2019 to 2020 and has accounted for 41% of my sales this year (even in a pandemic). 

If you haven’t guessed it yet, I’m talking about creating passive income offers! 

Passive income has not only generated me tens of thousands of dollars, but it’s completely changed the trajectory of my business. 

And because I want you to see the same wild success, I’m sharing what passive income really means, what it can do for your business, and a few offers you can implement STAT! 

Pour yourself a big cup of joe—you’ll want to be alert for every part of today’s lesson—that is, if you want to start making more money with less effort. 

What Does Passive Income Mean? 

Whether you’re new to coaching or have owned your business for a while, you’ve probably heard the term “passive income” thrown around a lot. But has anyone ever explained to you what passive income really means and the impact it can have on your business? 

Passive income happens when people—AKA your target audience—purchase one of your offers at any time, and it doesn’t require you to provide any additional services beyond what they bought. 

It’s a self-paced offer that clients can enroll in at  5’oclock in the morning, 2’oclock in the afternoon, or the middle of the night. And you don’t need to lift a single finger. 

Yes, that’s right! 

By creating a passive offer, you can say goodbye to stressing over the prep for your next launch and say hello to more time and freedom. *cue instant relief* Once your sales funnel is in place, it’s set it and forget it. You’ll have money that keeps coming in without actively working for it. 

Imagine what you could do with all that extra time…and income? 

Types of Passive Income Offers

1. Online Course

With a few courses under my belt, including Sales Funnel Secrets and Email Marketing Launch Vault, I can tell you creating courses is a lead-generating, money-making, impact-creating sales offer that can scale your business in all the best ways. Determine a topic you’re not only passionate about but an expert in, and turn that into a course your dream clients will want to throw their money at. 

2. E-Book

With 26% of the American population reading e-books in 2019, revenue from this type of passive income offer is expected to reach $1.52M by 2023. *mind blown* That means there’s a lot of opportunity to generate revenue with little to no effort. If you’re unsure what type of e-book you want to write about, here’s a few prompts to get your creative juices flowing: 

• The Step-By-Step Guide To ___
• ___ Days To Get More ___
• The 10 Must-Have Tools For More  ___
• The Complete ___ Blueprint For ___

3. Webinar Training Series 

If writing isn’t your jam, then creating a video series can be a great way to train your audience on a particular topic! Decide what you want to talk about and how many videos you want to create. Then develop your marketing plan to reach the right audience. Done! 

4. Digital Workbooks

The great thing about workbooks is they’re incredibly quick and easy to create, but they can provide a ton of value for your audience. The key to creating a purchase-worthy workbook is to think about your audience’s pain points and then give them an easy to digest solution. For your workbook to be successful, they need to implement a task that gives them a quick win.  

Ready to create income on autopilot so you can level up your business while enjoying the freedom of not working 24/7? Now you know what passive income truly is and the types of offers you can create to make money whether you’re sleeping or vacationing. 

While creating passive income offers can be a lot of work at first, it’s worth the investment of your time and energy. The sales cycle is less rigorous when selling a product on “set it and forget it mode” versus continually hustling for the sale (trust me on this one). And the best part is, it doesn’t matter if you’re creating a high-ticket offer like a course or a low-cost option like a workbook; all of these offers are scalable. Meaning you can put more money and effort behind them to increase sales without increasing the amount of time you work with customers 1:1. It may sound like a dream, but it’s completely possible! 

And if you snag The Profit From Passive Funnel Bundle, I’ll give you all the tools, strategies, and templates you need to successfully launch your passive product online, including a 5-part email launch sequence and a 30-day launch calendar. (P.S. it’s on sale for a limited time, so grab it fast!)