Passive income is possible, but it takes a lot of upfront work. For anyone looking to diversify and create additional revenue streams, I have a few tips (pic is from today for reference). 
1. Develop revenue streams based on your main product.
We create websites and brand identities for clients, so other income streams are based on that including:
- website templates
- illustrations
- hosting management
We create websites and brand identities for clients, so other income streams are based on that including:
- website templates
- illustrations
- hosting management
This allows us to leverage existing skill sets to create digital products.
Example: we worked w a prospect who was a VC and learned a lot about the industry. This allowed us to create a @webflow template based on analysis.
We can then go and sell that template forever.
Example: we worked w a prospect who was a VC and learned a lot about the industry. This allowed us to create a @webflow template based on analysis.
We can then go and sell that template forever.
2. Turn your main business into a series of systems.
Document everything about your business in the form of step by step directions. These standard operating procedures can be repackaged it as a ton of products!! Let me explain:
Document everything about your business in the form of step by step directions. These standard operating procedures can be repackaged it as a ton of products!! Let me explain:
Now that you’re creating operating procedures in your business, you can resell those packages as:
- online course
- PDF
- swipe files
- membership
Use @podia as a simple solution for hosting courses and promote these products to your audience.
- online course
- swipe files
- membership
Use @podia as a simple solution for hosting courses and promote these products to your audience.
3. Build a community of VALUE
This is the crucial piece. You have to be building a community of advocates for this to work, but not in the way you think.
My best advice is to build your presence on two platforms:
- social media (1)
- group and or email (2)
This is the crucial piece. You have to be building a community of advocates for this to work, but not in the way you think.
My best advice is to build your presence on two platforms:
- social media (1)
- group and or email (2)
One presence is tied to a social platform in an effort to push folks into a group (slack or fb) and or an email list.
You never want to depend solely on a social platform. Plus, having a sizable email list is crucial for new releases and updates. You’ll have the ability to...
You never want to depend solely on a social platform. Plus, having a sizable email list is crucial for new releases and updates. You’ll have the ability to...
Send a quick email in an effort to garner pre-sales, new releases and more.
4. Passive Income COMPOUNDS
So, at first, your products might not do numbers, but allow some time to develop products that can become an up-sell.
For example, I have a web design course with an SOPs upsell. 70% of new students buy the SOP doc. It's a great option.
So, at first, your products might not do numbers, but allow some time to develop products that can become an up-sell.
For example, I have a web design course with an SOPs upsell. 70% of new students buy the SOP doc. It's a great option.
P.S. I have two courses that help!
Building SOPs:
bit.ly/sopclass
Building a Web Design Studio:
bit.ly/thewdsacourse
If y'all have questions, let me know!
Building SOPs:
bit.ly/sopclass
Building a Web Design Studio:
bit.ly/thewdsacourse
If y'all have questions, let me know!
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