Are you seeking some new ideas to earn passive income?
Do you think passive income possibilities don’t apply to your industry? It might be time to think again!
I don’t know who needs to hear this, but if you don’t have at least one passive offset on the table you’re missing out.
Are you hoping for an extra-long weekend off?
Dreaming of a month abroad?
Wish you could take more impromptu self-care days?
Working on your passive income offerings could be your ticket.
Before we go any further, let’s take a moment to delve into the word ‘passive’.
Look, I know it may sound obvious to so many of you, but passive income does not mean it’s no effort!
In fact, it can mean a lot of effort upfront but the rewards can be long-lasting.
Passive income requires you to do the work, to plan and research, and to find the right opportunities for your business, and then to actually create and build the items and offerings that can live on as passive moneymakers.
It’s not easy, and can often be at the bottom of the priority list, but it really can pay off. With more passive income you’ll give yourself more freedom to play and rest which can have a significant impact on your overall wellbeing.
Not only this, but it can afford you space away from your business. This can really help to give you the perspective to make your next moves.
I’m here to give you a few ideas for passive income opportunities. Use these as thought-starters and manipulate and morph them to fit your brand and business.
Are you a designer, artist, or photographer? Do you currently sell physical prints and products to support your work?
Why not try offering digital downloads? Most commerce sites such as Etsy and Squarespace offer ‘digital download’ functionality. When a digital item is purchased the customer is sent a download link. For photography or art prints, they can utilise this file to print a copy of your work by a printer of their choice.
But that’s just the start, the world of ‘printables’ is vast and unbounded!
You could offer print at home calendars, checklists, shopping list templates, tick lists, goal setting sheets or even a vision board template! Of course, having visual appeal and usability is hugely important here so will require you to take the time to design well thought through printables, but put the effort in now, and you could still be selling these for months, maybe even years to come without having to lift your finger again!
Offering a paid-for members-only section on your website is another way of generating passive income.
Your members-only space can contain exclusive coaching content, skill-sharing videos, secret podcast episodes or could be another place to store printables. Envisage it as a treasure trove of your highlights as a brand or business, this place should be a gold mine for your top fans.
You could bulk create the content that lives here (just ensure it’s evergreen and doesn’t date quickly) and charge a one-time fee for access. P.S. don’t forget to promote that it exists!
One way to summon ideas for your passive income is to think of your clients, customers or fans’ most common struggles or desires. Solving these inside a course or eBook is a great way of extending your passive income options.
Go wild and condense a section of your expertise into an online course. You can include slides, videos and handouts that are all viewable post-purchase. It is hard work to design the structure and content of a whole course, so be prepared to spend some hours and energy here.
EBooks also require a hell of a lot of that effort I mentioned earlier! Finding the right subject for your audience will be key. Being that you are a knowledgeable expert in your field, understanding the needs of your customers and clients is already a great tool. Make sure you choose a theme that you know people are hungry for. Sometimes it’s helpful to think about the books and topics that you are drawn to and lean into this.
Have you read this and feel charged up to get working on some ‘not-so-passive but passive eventually income’?
Share your thoughts and ideas or ask questions in the Rebel Business Club Facebook Group – a free place for tips and support.
Ready to read on? Take a look at our other blog posts here.