To get the full experience, listen in to the recording above to learn more about how to create passive income. What’s below is a brief summary of what’s covered on this recording.
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Creating and selling a passive income product can be a really lucrative way to diversity your business. Here are some questions to help you figure out what your passive income offering could be about.
What are people asking you about (especially clients) most often?
Think about what you’ve really wanted to write about lately. Is there a common theme?
If you still have no idea where to start, that’s okay! What would you have loved help with five years ago? Think about your own journey, your challenges. Maybe you’re still trying to find the right help with this challenge. Let’s really tap into our own insecure places, issues we’ve surmounted. This depth is where we can find true sources of inspiration.
What processes are you intimately familiar with? Are you great at project management? Do you handle money well? How do you handle conflict within your marriage? Maybe there’s something in that system that’s completely applicable in another category of life.
The most important step of creating a passive income is simply picking something. Analysis paralysis is such a time and energy sucker. So much time is wasted just by getting stuck in the idea, and being unable to move forward. There may be people with overnight success in the coaching business. For the rest of us? We’ve built our business not with perfection, but with, “let me try this and let’s see what I can do with it.” Every coach has something that launches without success, but it’s better to pick something and try than to never start anything.
Here are some suggestions for creating your passive income with less stress:
You have to decide on something. Declare it.
The first time you ever put the content out there, make it simple. Free, cheap, or pay what you can. When you’re first starting out, you’re just trying got get your name out there. To remove the hurdle of cost, people can get to know you and be impressed with what you share. Then you can get toes in the water, but more importantly, get feedback! You can always iterate and add to your products again later.
It’s very important to decide how far in advance to launch. A big launch should be planned out about three months in advance.
Here are the most important questions to ask yourself when choosing your passive income:
What am I really wanting to create and share with the world?
What does the world really need?
How will what I provide help people with something?
What’s my ideal format?
What’s my timetable?
What’s my launch strategy?
Now, this is just a small aspect of what is covered in The Coaching Blueprint digital marketing program, and we go even more in depth there. Just remember, what’s most important is aligning your values with your coaching practice, so you can spend more time coaching and less time on the business side.