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Episode Info

Episode Info:

Passive Income is NOT Passive

The definition of “passive income” isn’t creating and selling something that requires no work.  Passive Income is doing the most difficult work now, upfront to reap the benefits later.

Look, no matter what method you choose to make money especially while running and scaling an online business, you’re always going to need three things:

  1. A product
  2. An audience And 
  3. A method(platform) to promote and sell your product to your audience

Last week in episode #32 I defined what is a Digital Product and I gave you a ton of ideas of what you could create to then promote and sell Digital Service Products.  I’ll be sure to link to that episode in the show notes.

While there’s nothing wrong with wanting to make money online, I want to make sure you’re doing it for the right reasons, not just the money.  The main source of success from people who made money is to find solutions to problems and be helpful, provide value to an audience who needs what you have to offer.

Passive income starts with what product will you create but then I urge you not to start selling.  You have to be strategic with how you show up online in order to start building your passive income empire.

This is where your marketing plan comes into play.  While creating the product you’ll want to promote and sell is a priority, you need to create a marketing plan to promote and sell the products you create.  

By the way, when I say products, I’m primarily referring to Digital Service Products I’ve encouraged you to create and sell in other podcast episodes.  Another episode you may want to check out is Podcast Episode #11 where I shared with you 5 Digital Product Ideas to consider creating to start building your Passive Income.

Remember, in the online space, people buy from people they trust. Trust is built based on relationships and relationships take time. Building a passive income revenue stream will take time but it builds momentum, it’s scalable, be patient, but also be persistent, focused and oh yeah, did I mention be patient.  

I’m excited to hear about what you’ll do first.

I hope you’ve enjoyed today’s episode and your head is full of ideas.  I’d love to hear from you. Head on over to my website and let me know, are you going to build a passive stream of income? Wait, before you go...have you subscribed my Podcast in iTunes? It’ll take you less than 30 seconds and you’ll never miss a weekly episode because it’ll be automatically downloaded to your app.   I’ll see you next week. I thank you for showing up for me, for yourself, and for your business.    Until next time, I’m Veronica Bye for now LINKS MENTIONED IN THE EPISODE

Connect with me on your favorite social platform.  

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