Are you thinking of expanding your practice, maybe adding new streams of income? Feeling like some kind of passive income thing is the way to go?
Here’s a beginner’s check list on what you’ll need to get started:
a market-desired solution to an easily defined problem
knowledge of who your market is, what they want, and what will motivate them to buy from you
a product or program concept that provides the solution to their recognized problem
the marketing infrastructure to promote the product or program
the reputation as a go-to specialist to get good marketing response
the persistence to continue marketing your passive product or program
Wait a minute, you say, that sounds like a lot of work. Where’s the passive part??
Passive income front loads the work. With client attraction strategies to gain patients, much if not most of the work for you comes after the “sale” — after the client hires you. With many if not most passive income projects, the work stops (or pauses) once the sale is made, until you have a new product or program to promote to the same buyers who previously entered the first passive income stream.
So, assuming you’re up for all the extra marketing, the easiest and cheapest form of passive income is probably in developing a line of written and audio digital download products. The only online tools you’ll need to accomplish this are:
a sales page website
a payment system (PayPal is easy if you don’t have another)
a file converter program to turn a Word document into a pdf file
an audio-maker online account to record
a tool to deliver the purchased products
It’s do-able, if you want to put in a lot of effort.
So are you ready to double and triple the amount of marketing you are currently doing, in order to make passive sales? Do you have the products or programs already created, and a large email list to promote to?
If not and you are interested in developing this as an new income stream for your practice, schedule a consult with me to get some direction on how to get started.