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5 Passive Income Ideas for Digital Business Owners

So you have a booming business. Clients are inquiring about your services non-stop, you’re in demand and you’re thinking “how can I clone myself?” Right? Of course, having a team that can help you keep up with the demand is heavenly but what if I told you there was a way you can *kinda* clone yourself?

If you’re a business coach or an expert in a specific area or field, chances are, you’ve probably received some of the same questions over and over again. If you’ve answered some of the same questions, repeatedly, and you’ve created a proven framework of something you know, why don’t you create a passive income source in your business?

Here are a few passive income ideas to consider if this sounds like you.

What is Passive Income?

Passive income is money that your business makes without you needing to be present. This means you’re not on calls making a sale, you’re not actively teaching or working with a client to get paid, you create a product that you can sell all the time, in the background.

Passive income is typically made when you invest in creating a single product that people can purchase directly from your website. Maybe it’ll take you time, money, and energy to create your passive income product, but having it available 24/7 allows you to collect payments and make sales like clockwork.

For entrepreneurs like you, who constantly teach the same lessons or answer the same questions, it makes perfect sense to turn your knowledge into a learning framework or tool for people to purchase at any time.

Create a Course

If you’ve taught classes upon classes and clients about your area of expertise, turn your framework into a course. If you have the framework, blueprint, and foundations for a specific area or topic, you can turn it into an educational tool that helps people learn from you without needing to be in the same room as you.

Not savvy with all of the latest course platforms? Not to worry. If you’re not a DIY-er and would prefer to work with a professional, my team can actually create your course for you.

Here’s what we recommend for an impactful course:

  • Brilliance blueprint *your knowledge and topic of excellence*
  • Course outline – This will organize all of your content in a clear and direct way
  • Course content – This is where you’d decide if you wanted to incorporate text, audio, or video lessons
  • Course benchmarks and tests – This is where your course takers would practice and retain information
  • Course materials – This could be a course journal, workbook, guide, or whatever your students will need to learn effectively
  • Course community – This is optional but oftentimes, course-takers want to be included in a community where they can ask questions during or after the course

Your course will be 100% unique to who you are, who your students are, and what you teach. Making it clear, informative, and impactful will help you get your message to the masses. The best part? You’ll be educating AND selling in your sleep!

Teach a Webinar and Sell the Replay

If you have a message that you want to shout from the rooftops, a webinar is a passive income idea for you. Let’s say you want to teach people your methods on confidence building, turn that idea into a webinar, create a solid presentation and lesson, and teach it to a live audience.

Your webinar can be free or paid however, you’ll have a bigger reach with your event if you choose the free route. Your pricing should align with your business goals and the value of your teachings.

Then, after you’ve taught the webinar to your live audience, you can take the recording, edit it, add subtitles to it, and sell it on your website.

Create a Handbook or Guide

A quick-read guide is a great passive income idea if you have a list or set of to-dos or must-haves for your topic. This would be a great idea for you if you’re a fashion stylist and people want to know the 24 pieces you keep in your emergency bag and how you use each of the items.

You can create your quick guide, have it designed and branded, and sell it on your website as a micro offer. Whether you sell it for $5 or $9.99, it’s something that is unique to your methods and it’s a small purchase that someone can make to learn from you when hiring you is out of their budget.

Create Checklist or Tracker

If you’ve created a challenge or program to help your audience get in shape, get aligned, or get focused, create an added offer with a tracker or checklist they can use during the event.

One of my clients has an athleisure clothing company and she hosted a month-long challenge. We created an “up-sell” offer where participants could purchase a spreadsheet to track all of their wins and it was very successful.

For you, this could be a “perfect website checklist,” where you list out everything someone needs to have the perfect site. You’re the expert here so take your excellence and help more people achieve their goals with quick and helpful trackers.

Write a Book

It’s 2021! The amount of tools available to you right now is insane. If you’ve been wanting to write a book but you’ve been waiting for the right time… this is your sign… The time is now! With easy-to-use voice transcription services and audio notes, writing your book is so much easier than you might think.

Start writing your book and once you finish it and you have it proofread and copyedited, create the visuals, and sell it on your website. If you want to have a bigger reach with your book, take it to Amazon. You would’ve invested your time, money, and energy into writing your book but once you get your investment back, the rest is passive income.

You have a team that wants to help you launch that passive income idea. If this post got you fired up and you want to align your goals to make it happen this year, schedule a call with my team, and let’s get started.

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