What they really mean, of course, is “How do I find an idea that will sell?” No one wants to spend days or weeks or more planning, developing and launching a course only to hear crickets on the big day. You want to know you’ll have at least some measure of success.
But don’t overthink it. The answer is simple. Just give your audience what they are asking for.
- Check out the competition. What are they creating? If you serve a similar audience, then what sells for them will very likely sell for you. Now, before you break out the “But it’s already been done!” line, keep this in mind: No two coaches are alike. You may create a similar course, but your voice, your experience, your teaching style, and your personality are all very different. No one else is you, and for some customers, YOU are the only one who will resonate with them.
- Pay attention to your ideal client. What questions does she ask in private groups, in your help desk, and elsewhere? What posts are she reading on your blog (check your Google Analytic stats)? These are all valuable sources of intel about exactly what she needs and wants from you.
- Ask. Still not sure what your dream client is looking for? Ask her. Create a survey and ask her to tell you what she struggles with, what keeps her from realizing her success, and even what she’s tried before in an effort to solve her issues.
- Check the bestsellers list. Which books in your niche are outperforming others? These are the ones that offer answers your clients are seeking. Flip through the table of contents and read the online reviews to dig deep into the topics that really resonate with your audience.
- Read the FAQs. Check the frequently asked questions section on competitor blogs and in forums and Facebook groups. Also check blogs for “Start Here,” and “Quickstart” pages. Many times the most common questions and concerns are addressed here.
- Review the available resources. Which are the most common resources your colleagues and competitors are recommending? There are often questions surrounding the use of software and other tools, and these can be great ideas for eCourses.
- Check your email. If you’ve been in business for more than a few months, chances are you receive questions from friends, clients and even strangers on a daily basis. What are they asking about? Look for common themes and trends.
- Revisit your keyword research. Review the terms and phrases that your community most frequently searches on, and use them as a basis for your own research.
- Check your search terms. Google Webmaster Tools allows you to check which terms are sending visitors to your website. Since people often search on questions (“how to design a logo” or “how to start a business”) this can be a rich source of ideas.
Boost Your Traffic
It’s pretty simple math: the more people who see your landing pages and sales page, the faster your business will grow. To that end, work on boosting your traffic by doing the following:
- Adding more traffic sources to your overall traffic strategy. For example, if you’re doing a lot of SEO and social media marketing right now, be sure to add other methods such as buying Facebook ads, guest blogging, and starting an affiliate program.
- Do something every day to boost traffic. For example: post on social media, write a blog post, send an email, look for a new joint venture partner, look for a new guest blogging opportunity, etc.
Get More Targeted Traffic
Sometimes you may have a lot of traffic, but it’s not the most targeted traffic. That’s why you’ll want to focus your resources on your best-quality traffic.
For example, let’s suppose you’re purchasing paid traffic on Facebook. You’ll want to test and track your ad campaigns to be sure you’ve selected the most targeted and most responsive audience using Facebook’s tool for narrowing your audience by their demographics and behavior.
And here’s something related…
Optimize Your Landing Pages
Even if you’re getting a lot of high-quality traffic, it means nothing if you can’t convert that traffic. That’s why you’ll want to grow your business and your profits by testing and tracking all landing pages and sales pages to boost response rates.
For example, a simple tweak to a headline could potentially double your conversion rate. That means more sales, more subscribers and more profits flowing into your business.
Focus on List Building
Most people don’t purchase a product the first time they come into contact with it. That’s why you’ll want to focus on building your list, so that you can follow up with your prospects to develop relationships and promote your offers. For best results, segment your list so you can send out highly targeted content and offers.
Create More Products
Fill out your sales funnel with additional backend offers so you have more products to sell to your existing customers. You’ll also want to start creating other related sales funnels. For example, if you’re selling traffic generation info, you might create another sales funnel based on a related topic such as copywriting.
Increase Your Per-Transaction Amount
One way to do this is to raise your prices. Another way to do this is to offer more cross-selling/upselling items. For example, if you’re selling a weight-loss guide, then cross-sell a set of exercise videos and/or a low-calorie cookbook on the order form.
Develop Residual Offers
Still another way to boost your profits is to develop residual offers such as membership sites or subscriptions (e.g., software as a service subscriptions). For example, you might set up a 12-month fixed-term membership site on how to lose 50 pounds and keep it off.
Which of these methods aren’t fully utilized in your business yet? Go ahead and create a plan to implement them as soon as possible so you can start boosting profits!
What is the best social media platform?
The “best” social media platform is going to be different for different people, depending on your niche and business model. That’s why you’ll need to do research on platform demographics in order to pick the platforms that are right for you. You’ll want to check Facebook, Twitter, Pinterest, Instagram, LinkedIn, YouTube, and Google +. Be sure to also look at networking sites that are specific to your niche.
What sort of content should I post?
You can start by researching your competitors’ social media pages to see what they’re posting and what their audience responds to. However, you’ll want to post a variety of content in order to get a feel for what your audience responds to the best.
- Videos (how to videos, announcements, short sales videos, etc.).
- Longer instructional content (how to articles).
- Tools (such as worksheets and templates).
And similar content. Check BuzzSumo.com to see what’s popular in your niche.
How do I make it faster and easier to use social media?
Social media can be a huge time-suck for a lot of businesses. Fortunately, there are tools to make it easier. You may pick an “all in one tool” such as HootSuite.com, which will help you publish across multiple platforms, find topics, and keep track of your results.
What social media mistakes should I avoid?
Mistake 1: Not being social. Some marketers make the mistake of getting on social media and treating it like an advertising board. You need to interact with your audience, share useful content, and generally use it in a social way rather than promoting all day every day on it.
Mistake 2: Not using hashtags. Not only should you find out what content your audience wants, you should also find out what hashtags they’re using so that your content can get discovered. A tool like All-hashtags.com can help you uncover these hashtags.
How do I get more people to share my content?
Social media is all about sharing content, but you need to be sure your content is shareworthy. Follow these tips:
- Create high-quality. Give people something they haven’t seen before or offer a fresh perspective, and they’ll share.
- Offer content that generates good feelings. For example, share an inspirational video.
- Encourage people to share. E.G., “Your friends will love this – and they’ll love you for sharing it. Share now to spread the love…”
- Install social media badges on your blog. You can use a social media plugin to make it easier for people to share your content from your blog.
- Keep it short. People have short attention spans, so make sure your content is easy to consume (from a few seconds for text to a couple minutes for videos).
Now a few parting words…
Your audience is already on social media, so be sure to put this information to work to make the most of these platforms in your business.
One of the keys to running a successful business is to get plenty of targeted traffic to your website. Using just one or two traffic methods usually won’t be enough. That’s why you’ll want to deploy multiple methods in order to grow your traffic over time.
Take a look at these ideas…
Use Email Marketing
Starting a list is a great way to capture traffic before they leave your site and forget about you. Be sure to offer an enticing lead magnet, and then use your autoresponder to build good relationships.
Start a Blog
A good blog brings people back to your site repeatedly. You can also use it to get traffic through search engine optimization as well as viral marketing.
Do Guest Blogging
If you pick high-quality, well-trafficked blogs, then guest blogging is a great way to get targeted traffic.
Get Active on Social Media
Develop a presence on the major platforms (such as Facebook and Twitter), grow your audiences there with viral content, and use hashtags to get discovered.
Start an Affiliate Program
Use ClickBank.com, JVZoo.com or a similar platform to offer commissions to those who send you paying customers. For best results, build relationships with the top marketers in your niche and then directly invite them to join your program.
Do Joint Ventures
Join forces with other marketers in your niche for mutual benefit, such as by swapping endorsement, swapping content, doing webinars together, or other similar activities.
Distribute Press Releases
Announce company news or talk about current events using press releases. You can distribute these releases directly to local media, as well as through services like PRWeb.com.
Optimize for the Search Engines
You can optimize the way your site is structured as well as the content itself to attract Google traffic. Be sure your site has high-quality content, is optimized for mobile users, and is accessible and user-friendly.
Buy Targeted Ads
You can buy as through platforms such as Google Ads and Facebook, as well as on niche sites. Be sure to start small, test and track your campaigns, and then scale up once you start getting good results.
Start a Referral Program
The idea here is to reward your existing customers for referring their friends. You can even do a two-way referral program, where both the existing customer and the referral get a reward (such as a free product or a steep discount on their next purchase).
While your overall goal is to develop a traffic strategy that includes multiple methods for getting traffic, the key is to deploy just ONE method at a time. Pick your method, learn about it, implement it, and then tweak it until you get results. Once you’re getting good results from one method, then you can start implementing a second method. Once you get good results from that, then you can implement a third method (and so on).
Here’s the second key: do something every day to grow your traffic. Small, consistent steps will yield big results!
Perhaps you’ve heard that guest blogging is a good way to generate targeted traffic. If so, you’re right. Not only can you get direct click-through traffic as soon as your guest blog article is published, but you might also get viral traffic (if your post is share-worthy) and traffic from the search engines (if you naturally include some keywords and you guest blog on an authority site).
So, with all these benefits in mind, let’s take a look at how you too can start guest blogging…
Step 1: Identify Potential Guest Blogging Opportunities
The first thing you need to do is find guest blogging opportunities in your niche. You can start by checking the well-known blogs. Then you can uncover other opportunities by searching Google for your niche keywords (e.g., “gardening”) alongside search terms related to guest blogging. These terms include:
- List of guest blogging opportunities
- Guest blogging
- Guest blogging guidelines
- Guest article
- Guest article submission
- Guest article submission guidelines
- Submit articles
- Guest author guidelines
- Guest author submissions
Step 2: Investigate These Blogs
Once you have a big list of potential guest blogging opportunities, then do your due diligence on each one. You want to make sure you ONLY submit to high-quality, popular blogs with good reputations. That’s because your name is going to be forever associated with that blog once you get something published.
Step 3: Initiate the Process
Now you should have a shortlist of high-quality guest blogging opportunities. Your next step is to read their submission guidelines carefully and then initiate the process for becoming a guest author. Some of these blogs will ask you to send an inquiry, while the majority will likely ask you to submit an article.
Keep these keys in mind when submitting articles:
- Review the blog’s archives to see what sort of content the editor’s like. For example, if they like tutorials, then submit a tutorial.
- Offer something fresh. Your article should have a unique viewpoint and fresh information. The more novel your content, the more likely people will click on your links and/or share your article with others.
- Create a well-written, polished article. Exceeding the editorial’s standards will help your article get accepted. If needed, hire someone else to proof and polish your article.
Step 4: Insert a CTA
At the end of your article, you have a chance to insert a byline (AKA author’s bio). Instead of using this space to talk about yourself, use it to send your readers to your own website. Ideally, you should send readers to your lead page so that you can get them on your mailing list.
E.G., “You just read an excerpt from [Name of Lead Magnet Report]. Get the full report for FREE by clicking here now…”
Guest blogging is indeed a great way to get targeted traffic. Just make sure you pick high-quality blogs on which you’ll be proud to have your name appear, you give the editors fresh content, and you use your byline to direct readers back to your own website.
You’ve probably heard that it’s a good idea to start blogging, no matter what niche you’re serving. But the question is, how do you make money with your blog? That’s what this tutorial will help you sort out.
Let’s get started…
Step 1: Know Your Options
The first thing to do is understand all the different monetization options that are available to you. These include:
Promoting Your Own Offers
This tends to be the best and most profitable option, because it’s both profitable upfront as well as on the backend (since you build a list of proven buyers).
Promoting Affiliate Offers
Many bloggers promote affiliate offers, which is a great option. You can promote infoproducts until you develop your own. It’s also a great option if you don’t intend to develop your own products (such as if you’re selling physical products).
Building a List
Some bloggers don’t promote anything on their blog, and instead focus on getting readers onto their mailing list. (From there, they promote their own offers and/or affiliate offers.)
Selling Ad Space
The key to this method is to vet all advertisers, ads and offers. That way, your blog doesn’t become associated with anything unsavory.
Inserting CPA offers
Here’s where you place a CPA (cost per action) offer on your blog, like Google AdSense (which is where you get paid per click). This is a last resort offer, as you can generally make more money using the other methods mentioned above.
TIP: You can learn more about Google AdSense here: https://www.google.com/adsense/start/.
Step 2: Select One Primary Method
Next, select one primary monetization method. For example, you might choose to sell affiliate offers, with the intention of switching to your own offers as you create them.
Step 3: Plan Your Content
Now that you know how you’re going to monetize your blog, you can now plan your content in a way that supports your monetization goals.
For example, if you’re selling affiliate offers, then you’d plan content that includes how-to and tips content (with soft sells embedded), case studies, product reviews and product comparisons.
Another example: if you’re building a list, you’d post a lot of useful content and then point people to your lead page to get your BEST content.
Step 4: Test and Tweak
Finally, the last step is to test and tweak everything to maximize response and profits. This includes:
- Testing headlines, calls to action, graphics and other parts of your ads.
- Testing the various components of your lead page.
- Testing which offers you promote.
- Testing placement of ads.
- Testing article topics and headlines.
In other words, test every major component of your blog and ad campaigns to boost response.
The key to monetizing your blog is to choose one main monetization method, and then create content designed to support this method. In other words, don’t haphazardly post content. Instead, every piece of content should be strategically created to help you establish your authority, impress your readers, and presell an offer.
Your sales letter can make or break the success of your course or other infoproduct. Ideally, you should outsource this task to a talented copywriter in order to maximize conversions. If that’s not feasible, however, then you’ll want to use this tutorial as a starting point for creating a compelling sales letter.
Step 1: Profile Your Target Market
The first thing you need to do is learn as much about your market as possible. To that end, research the audience demographics (e.g., “dog owner demographics”), being sure to stick to reputable sources. Then spend time reading discussions from your market or even surveying them to learn more about their problems and what they want.
Step 2: List Your Product Features and Benefits
Your next step is to list all your product’s features and the associated benefits of those features. Be sure to also create your USP (unique selling proposition), which is the one thing that sets your product apart from similar products.
Step 3: Craft a Compelling Headline
Now that you know the benefits of your product, showcase your biggest benefits (and, ideally, your USP) in the headline of your sales letter.
E.G., “Discover the Easy Way to Lose Weight… Without Hunger Pangs, Cravings or Feeling Deprived!”
Step 4: Define the Problem
The opener of your sales letter should engage your reader and define the problem.
E.G., “Do you ever feel tired and short of breath after climbing a flight of stairs?”
Step 5: Offer the Solution
Your next step is to offer your product as the solution to the reader’s problem, and then list all the benefits of your product (typically in the form of a bulleted list).
E.G., “You’ll get a full three months’ worth of meal plans, recipes and grocery lists – weight loss is easy when we do all the planning for you!”
Step 6: Provide Proof
Your readers are a little skeptical of your claims, which is why you need to prove them. You can do this by providing the following types of proof:
- Case studies.
- “Before” and “after” pics.
- Media clippings.
And anything else that proves that what you say is true.
Step 7: Raise and Handle Objections
Your next step is to raise the objections people have to buying your product, and then handle them.
For example, if people think your product won’t work, then offer a guarantee.
Another example: if people think your product is too expensive, then justify the price (showing them how they can’t afford to NOT buy it).
Step 8: Offer a Call to Action
The final step is to tell your prospects to take action. Whenever possible, give them a good reason to do so now.
E.G., “Take out your credit card and click the buy button below – because the sooner you get started, the sooner you’ll start liking the person looking back at you from the mirror!”
You just received an overview tutorial of how to craft a compelling sales letter. Be sure to have this article ready for easy reference the next time you start writing a sales letter!
Whether you’re talking about a text-based course or a video course, customers tend to love these types of products. And you’ll love selling them since the high perceived value means you can charge more for a course versus other info product formats (such as ebooks).
So, with that in mind, check out these three steps for creating courses your customers will love…
Step 1: Do Your Market Research
The first thing you need to do is figure out what your audience wants. A good way to do this is to find out what they’re already buying. You can check:
- Udemy.com to see what sort of video courses they’re buying.
- Marketplaces like Amazon and ClickBank to see what sort of info products they’re buying in your niche.
- Websites in your niche to see what they’re selling.
- Paid advertisements (such as sponsored ads) to see what they’re promoting.
Look for bestsellers and multiple vendors selling similar topics – these are both signs that a particular topic is “hot” in your niche right now.
Select a topic that looks like it will sell well, and then move to the next step…
Step 2: Decide What to Include
Next, you need to decide what to include in your course and start creating your outline. To do this, take two steps:
- Brainstorm. Think up all the sub-topics, steps, tips, examples, mistakes, etc. you’d like to include in your course.
- Research. Find out what similar infoproducts. Use this information for inspiration – do NOT copy.
NOTE: While you may choose a topic that others have done before, and you may even look to similar products for inspiration, your goal is to create something fresh. This means:
- Sharing novel tips.
- Sharing unique information such as case studies, personal stories and personal examples.
- Sharing information in a new way, such as turning a step-by-step formula into an acronym/formula. (E.G., “AIDA” (attention, interest, desire, action) is an acronym that describes a copywriting formula – you can create your own acronym-based formula around a step by step process.)
Step 3: Develop Your Course
Once you know what all information you want to include, then organize it into a step-by-step format. If you’re delivering the course in parts, then create equal-sized modules. (E.G., you might create a 12-module course and deliver one lesson/module per week for three months.)
Keep these tips in mind:
- Use a light, conversational tone. Look at this article as an example.
- Add relevant stories to keep people engaged. For example, what problems did you have when you first started with this niche topics? What mistakes did you make?
- Add value to your course. Offer worksheets, checklists, templates, swipes, planners and cheat sheets to help people take action on what they just learned.
- Proof and polish. If you have errors in your course, people will judge the information as a whole to be low-quality. If needed, hire someone to proof and fact-check your course.
- Insert backend offers. Promote related products and services inside your course.
As always, you can outsource this entire task to a freelance writer (or video editor) to produce a polished end result.
You can easily turn a course into a premium offer or even a residual income offer, which is why you’ll want to start creating your own courses!
There’s no one in this world who would probably tell you they want to work more. Most people, even those who love their careers, have a goal of enjoying the financial rewards that stem from their efforts, which means more time off to spend the revenue that comes in. Passive profits is a concept that has been twisted to mean different things, so it’s important that you understand what’s possible, what’s smart, and how you can take advantage of this “earn more, work less” concept.
The True Definition of Passive Profits
The word passive, when it comes to income streams, means it’s happening in spite of you doing work. There’s little to no effort to earn and maintain your income. You’re not having to hustle and invest hours upon hours of your day just to try to eke out some profits. Unfortunately, many people mistake this concept to mean you do nothing and get a lot in return. There’s no magic money fairy who is going to deliver cash to your doorstep just because you set it as your intention.
For passive income to work, you have to have an investment of time or money up front and then set it to a mostly autopilot system. Some people who have money to get started, choose to take several shortcuts to get the ball rolling. Others who need to get things going on a budget, choose to invest their time setting up systems that produce passive income, and then reinvest in their business once money starts coming in. Some marketers claim there are all sorts of push button options, but it’s anything but push button once you read the fine print. As long as you understand the concept of passive profits up front, you’ll be motivated and not disappointed in the fact that you do have to be involved in the beginning.
Buying in to the belief that you can see strong monetary rewards for doing absolutely nothing is setting yourself up for a lot of frustration. It’s slanted that way because someone else is trying to make a quick buck off of your inherent desire to work less and earn anyway. If you filter out the hype, you’ll see that buried below the surface falsehoods is a truth that explains how it is a viable approach to generating income, as long as it’s done wisely and without becoming clouded by misleading statements and promises. To start your journey to true passive profits, first learn how to differentiate between products that promise risky endeavours and a true system that will deliver for you year after year.
Fastest Isn’t Always the Smartest
The people who often sell products and courses that promise passive profits have a goal. Their goal is to sell you on easy, free and fast. If they can convince you that for no cost, in an instant, you can become an overnight millionaire, they know many people will hand over money to gain that secret. They sell software and tools that promise to do the niche digging for you – the page building, and the traffic generation, too. All you have to do is fork over some money, download it and you’re good to go. What they usually sell are simple cookies cutter lead pages and funnels that get flooded in the marketplace by all of the other hopeful marketers who wanted this easy, fast and free system to work for them, too. It’s never wise to work from a place of desperation.
When you’re struggling to pay bills and you turn to one of these empty promises as a solution, you’ll not only waste money on it that could have been put to better use, but you’ll delay your success, too. Some of what they sell boils down to questionable traffic tactics. If you’re not careful, tools can sometimes get banned and you could get an account shut down if you’re generating traffic in an illegal or unethical manner. Stolen content is another fast fix some passive marketing vendors promise. They don’t call it stolen, of course – but that’s what it is.
They simply say you’ll have “instant” content. This content has to come from somewhere, and what usually happens is they create a tool that simply scraped (steals) the hard work of someone else so that you can use it on your own site. If you’re not careful, another marketer could see it and send a DMCA to your host, getting your site shut down for this practice. It’s not fun waking up one day and seeing your income stream dried up because of an ethics failure on behalf of a tool you were using.
Some tools generate low quality leads for you. You might land on a sales page for a passive profit tool and see how they instantly build a subscriber list of hundreds, or even thousands. But what you’re missing in that equation is the quality of the lead. You don’t want 50,000 uninterested buyers. It’d be better to have 5,000 loyal, relevant buyers. Not only will you earn more from initial promotions this way, but you’ll be able to cater to them years from now, rather than have people fleeing from your list the second they get an email they consider to be spam.
Systematic Passive Profit Promos
True passive profits online mean you’ll need to set up systems in the beginning of your journey. It doesn’t mean you can’t be participating in other business branches, such as service provider or product creation, but for passive income, it will help if you have repetitive tasks that can be handled on autopilot by tools or outsourced. There’s a small learning curve if you’re brand new, but it’s a simple task of tapping into a niche with content and offers. You’ll be picking a lucrative niche with plenty of traffic and commission potential in the beginning. Some things that will be in your system are one time only tasks, like registering a domain name and setting up the blog. You’ll install WordPress (or have someone else do it and get it ready for the automated portion of your passive profits system.
Other tasks are ongoing, like the creation of blog posts and email autoresponders – but even those can be outsourced and queued up for even a year in advance. The great thing about passive income streams is that tools – while they may not be push button profits from beginning to end – can set you up for a lot of time off while they do all the heavy lifting. Having a set of your own standard operating procedures helps you repeat the niche profit process over and over again until eventually, you’re simply outsourcing content, plugging it in (or having someone else do this step), and earning. Once your blog is set up, you’ll pinpoint the product promotions and other ways you want to monetize your site. Then have a steady stream of content produced, uploaded and linking out to offers that have you waking up to money in the bank each day.
Your posts will serve as the foundation for your income, but you’ll be able to have them shared on social sites to generate more traffic than what a simple indexing by Google and other search engines can provide. You can create a follow up email newsletter that sends your subscribers who land on your lead magnet page into a funnel of promos week after week. The freebie you create to get them on your list will be one time work, but the newsletter (assuming you make it evergreen) will be automated to work for you for years to come.
Now there may be some customer service involved, depending on how you monetize your niche. But if you’re an affiliate, it lands primarily on the vendor you send the people to. Just make sure they’re ethical, or else you’ll have people coming back to you (the person who sent them there) with complaints. If your automated, passive income system relies on a product you created in the beginning, then there may be other customer service issues that arise, such as someone not being able to download the file or access something properly.
Scaling Up the Smart Way
Passive profits, once they’re set in motion, are easy to scale up. You can either expand within your niche or, tap into other niches using the same systematic approach. That part is up to you. Sometimes you can connect two related niche markets, such as diet and exercise – because they connect through a common topic like weight loss. You can do the same with gardening and survival (people growing their own food), or cooking and health. If you start out with a passive income site built solely on affiliate marketing, you might reinvest your profits into more income streams within that same niche. You already have a targeted buyer’s list, so it makes sense to provide them with more of what they need.
For example, you might outsource the creation of an info product line. Then you’ll get to keep 100% of the sales that come from that, as opposed to splitting profits 50/50 as an affiliate. You wouldn’t want to add a service like coaching if you wanted to keep the profits passive, because then you’d be tied to customers and clients who hired you to work for them. Sometimes it’s not only easier, but smarter to just do more within your existing niche. You can simply get more content out there, enjoy more social engagement, secure more subscribers, generate more traffic, and do more product promotions. Keep on the lookout for new social media opportunities, new slants and audiences. The ones we see now weren’t always around.
Those who build an audience early on a platform enjoy less competition and more clout. If you do want to branch out into other niches, it should be easy for you to simply replicate everything you’ve done to this point to tap into another niche. It helps to have all the steps written down as you tweak your system, allowing you to work less and earn more. For example, you might have something like: conduct keyword niche research, brainstorm and purchase domain, install WordPress, order 12 weeks’ worth of blog posts and emails, get admin assistant to queue them up, and so on. Within each step, if you have all of the details written down, it can make it easier for you to outsource to administrative assistant.
There are freelance individuals who will work for your company virtually on a per project basis. So when you have “purchase domain” on your list, go through each detail about what to add to the cart, what to leave off, how to point the servers to your host, etc. This will make your standard operating procedures easy to follow and require you to answer fewer questions along the way.
Stay Aware of Dwindling Passive Profits
One of the scariest things you can do is see early success with your passive profit system and assume that wave of income is going to carry on forever. You get comfortable and start spending and enjoying the financial rewards you’ve earned. But remember, niches ebb and flow in popularity. Even the ones that are evergreen, such as diets, will have slants that trend and then go on the backburner. Just because keto is hot today doesn’t mean it’ll be pulling in the same money for you six months from now.
Besides the niche itself, products that you promote can become outdated or get one upped by the competition. If you’re promoting something and something else is far more popular, your income might sputter. Sometimes, even scandals erupt with vendors or companies and you’re left with a site that is pushing something nobody is interested in anymore. Traffic becomes less effective sometimes. Depending on the method or platform you’re using, new rules that are instituted might bring your flow of targeted visitors to a grinding halt, and then your money will dry up. Service providers who carry the weight of your business can flake out on you. It’s always good to spread the workload out among more than one provider so that if one person goes absent, you have a backup who can help out and allow you to keep a hands off approach.
You have to be prepared for these issues and have a contingency plan. Never put all your eggs in one basket. This is dangerous – especially if your life is built around this type of business strategy. Keep an eye on profits and learn how to spot a dip in your passive income. Determine whether or not it can be shored up or if you need to cut it loose and focus all your efforts on another income stream. Having a plan in place in case of emergency makes implementing a passive profit plan easier to enjoy because you’ll never feel panicked if something goes wrong. Once you learn to plan and carry out a passive income approach, you’ll never want to go back to the daily grind again.
A lot of internet marketers have the singular aim of gaining passive income. Passive income is the ultimate aim in many cases because it means that you’re making money online without having to trade your time for money. Making money online is already highly liberating as it means you can work when and where you want. But if you’re working for a client, then ultimately you still need to do a certain amount of work every day to get paid, which means you still aren’t 100% free.
If your income is passive however, then you’ll be able to make money from your business even when you’re sleeping! If a friend turns up at your house and asks if you want to take a 5 day trip… you can! No need to tell clients and no need to lose out on money you could have been earning.
But that begs the question… what do you do when you start making enough passive income to quit your day job?
One option is to keep working while you earn passive income. If you’re making a full-time salary from selling an ebook, then you can carry on making a full-time salary from your job as well… and now you’re making two salaries. That can allow you to live a relaxed and indulgent lifestyle, free from financial stress and worry. Or alternatively, it might just mean that you can take an early retirement!
Pursue Your Passions
Better though, would be to quit your day job or your other online business and instead invest yourself into something you were truly passionate about.
That might mean that you start your own business that isn’t likely to turn a huge profit right away. Or it might mean that you take a relaxed day-job that won’t earn a fortune. Always wanted to spend more time outside? Become a park ranger! Wish you had time to write a best-selling novel? Go for it!
Many small businesses will create side projects like this in order to ‘bootstrap’. And with this money behind you, you can now go on to become a YouTube sensation, a famous blogger, or a recording artist!
Make More Passive Income
Another option is to move on from that passive income model and to set up another one. Passive income is endlessly scalable thanks to its minimum-input nature. The more models like this you set up, the more money you can earn and the more ‘resilient’ your business will be (meaning you’re not likely to end up destitute because one of the businesses failed!).
Become a Digital Nomad
Finally, you could always pack your bags and travel the world! You’re earning money online so you can carry on turning a profit anywhere you have your laptop. And because the income is passive, you’ll have plenty of time to explore those far-off lands! This is an amazing way to have a life filled with adventure and incredible experiences – and it’s something many people only ever dream of…
HI! I’M AMI NORRIS
Ami Norris is a business Growth strategist who helps people turn their expertise, passion and skills into a profitable online business that fuels their dream lifestyle. So they can have more time to spend with their family and on their hobbies.
Ami is the creator of The Norris Academy, owns Launch DFY and Profitable and effective marketing.
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