The Absolutely No Excuses Guide to Creating Passive Income

By , Small Business Consultant and Marketing Strategist

Solo-E Certified Solo Entrepreneur Expert

Michele A Scism - Small Business Consultant and Marketing Strategist

Do you want to add passive income to your business?  Wouldn’t it be nice to be able to keep getting those “you’ve made a sale” e-mails – even when you are sleeping?  While I think that creating a purely passive business is an impossible goal – I do think that having a passive income stream is important in any business.  

Do you have some passive income set up?  If not, stop making excuses – you likely have what you need already.

If you are involved in online marketing – you are probably constantly creating content.  Either by posting on your blog – or even by answer questions on forums, Facebook, etc.   Plus, there’s the content you are posting to Facebook (other than your blog posts).    All of that content can be repurposed into passive income streams (and these are not just $10 e-books) – Click here to sign up for my latest training series – one of the videos shows you how to turn a $10 e-book into a $20 product.

There is really no reason why you can’t take what you have now and create something that will bring you more prospects (and more buyers) each and every day.  Here are some hints for you.

Blog Every Day — Many of my clients neglect their blog (OK, I admit, I’m guilty of this too) . They may think they have enough clients through referrals, or they may just feel as if they don’t have time to blog. But the fact is, blogging every day can add tremendous value to your website and attract more visitors. You can make money passively through your blog by recommending tools and other resources to your audience.  When I host the Ultimate Blog Challenge and blog daily for 30 days, I always notice an upswing, in traffic, newsletter subscriptions and sales.

Create a Comprehensive Report — Turn a “How To” blog post into a longer report, add several blog posts, some PowerPoint slides, and video and sell it as a comprehensive “How To” kit or report. People love all-in-one items because they don’t have to weed through websites to find the information, they can just download a kit and learn fast.  I show you exactly how to to this in the free training series.

Compile Your Work Into an EBook — You can edit, reorder, and add to the blog posts on your website to create a comprehensive complete book about your niche or your story, depending on what types of content you put on your blog and sell it as an eBook. If the content is completely original you can sell it as a Kindle book.  You can also create an e-course from the class – or a webinar. The possibilities are endless.

Create a Membership Site — Once you have a few products, you can now put them all behind a pay wall and sell them within your membership website. Include a forum and you have group coaching, and user added content at its finest. Many people will pay a small monthly fee to be able to access your work. You don’t have to include everything you have in the membership site either to make a lucrative recurring income from memberships.

Once you’ve set all this up, don’t forget to keep asking…  Let your customers know the next steps each and every time.  If you do this – you’ll create a nice source of passive income for your business.  

Michele Scism is a decisive, driven and committed entrepreneur who helps successful business owners create passive income streams so they can stop working so hard and start enjoying the benefits of entrepreneurship.

Michele’s business expertise has been highlighted recently on NBC, CBS, Fox, Entrepreneur.com and Forbes.com. She is an international speaker, best-selling author and the Founder of Decisive Minds.

She is a serial entrepreneur who knows how it feels to fail miserably at business, at one time the bank actually called demanding their $1.5 million back, and also knows how it feels to sign the contract to sell your company for $9 million dollars. For business building tips visit http://DecisiveMinds.com

© Copyright 2014 Michele A Scism

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