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Business Challenge


Your Website is the Cornerstone of Your Passive Income

Passive Income Challenge Day 15.
The Cornerstone of Your Passive Income

You may have heard it before, but it needs to be repeated. Your website should be the center of your business. It’s your home base. It’s where all content should begin so that you can attract your customers and ultimately it should lead to them getting on your email list or becoming a customer and getting on your email list. You can turn your website into a cornerstone of passive income if you plan it right, without taking away from your main objective.

Let’s look at some ways you can add income-producing content to your website without it taking away from your main message.

Review Posts

Any software or product that your clients use or need that you also know a lot about can be turned into a review blog post. A review blog post will explain your impressions of the product along with including a link to the product. It might seem strange, but even if you don’t particularly like the product, if you write a true review and link to it someone may still sign up for the product because it has what they need, and you explained it well.

Resource Pages

This is a page on your site that talks about all the products and services that you yourself use, or that you know your clients need to use. You can list every single one of them on a single page, provide a short blurb about that product or service and the affiliate link. People trust you and will buy from that page.

The Cornerstone of Your Passive Incomepass, cornerstone of your passive incomeThe Cornerstone of Your Passive Income

Lead Pages

You want to collect your visitor’s information and get them on your list whether they buy from you or not. Therefore, the more lead pages you have on your site the better. You can have different pages for different reasons. They can exist within any content you publish as content extras. For example, if you’re talking about something in general, you can create a more specific short report about the topic and link to it via the general content. The link goes to a landing page to collect a name and email and in return, they get the upgrade.

Auto-Responder Sequences

While your autoresponder isn’t on your website, the sign-up form is, and if you’re going to collect email addresses, then you also need content loaded into your autoresponder that is evergreen. You can add more content as you go but try to get a year’s worth of content in the autoresponder – with affiliate links inside – as soon as you can.

If you do these few things, you’ll not only boost your traffic due to having more useful content on your site, but you’ll boost your income without providing a single service. The work you do today creating this information and content for your audience will pay off for a long time to come and build upon itself as you add more.


stop trading hours for dollars

Did you know TVS Launched a new accountability group?

Accountability benefits you in several ways as you pursue your dreams. Being held accountable isn’t only for those who are struggling with a particular issue, but for anyone with a goal. Working with an accountability partner or team is a key to success for anyone who wants their business to grow. If this is something you need, please, join us inside the Study Hall!

Become a founding member of the Study Hall community and gain access to exclusive content from the Studio Library, Mentorship, and experts in all areas of small business.

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The Cornerstone of Your Passive Income

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Your List is a Great Source of Passive Income

Passive Income Challenge Day 8.
Your list is a great source.

Hopefully, as your business has grown, so has your email list. Today, building an email list is an essential part of owning a business, no matter what industry you are in. Everyone is always claiming that the next new thing will replace email marketing, but it never does. No social platform has ever been able to provide the type of return on investment that an email list can if you plan it right. Which is what you are about to learn how to do.

Tell Your List What to Expect

When people sign up for your email list, you need to tell them what to expect. Set up an autoresponder series that welcomes them to the list, teaches them about your business, gives them an overview of what to expect from being on your list, and invites them to your social media platforms. You want to build a relationship with them, let them know that.

Make it Easy

Whenever you create a new product or want to promote a new product, create an email series for your autoresponder and schedule it right away. You can create schedules as short as 7 days, and as long as an entire year’s worth of emails. Don’t wait to do it, just do it.

Create Calls to Action

Every email should have a CTA. Your email messages should lead to something your audience can purchase, download that encourages them to purchase, or moves them to a new segment that also encourages them to purchase. Each and every time.

Build Your List

Always keep building your list. You can build your list by adding content upgrades to your content on your blog. For example, if you have a blog post about 3 Ways to Make Extra Money, you can link to a content upgrade about 101 Ways to Make Extra Money. This will move them to your list about making money which you can promote to them paid ways to make money.

Your List Passive Income Challenge Day 8. your list is a great source of passive income

Use Evergreen Content

One way to give your list members information that can also translate to added income is to put a lot of evergreen content into your schedule. The reason is that keeping your audience informed will train them to open emails from you, as well as trust your calls to action. Evergreen content is content that stays fresh for a long time, and in some niches that can be almost forever.

Add content to your autoresponder for every blog post you publish, every product you sell, every event you want to attend, and more. The more you add content into your autoresponder that is useful to your audience and promotes what you want to tell them about, the better. You will train them to get used to getting quality content from you, and that you only promote quality, useful products and services.

When you have enough content scheduled into your autoresponder, you can then fill it in with last-minute trending items, specials that your affiliate partners are promoting, and other content. But, if you choose to leave it for a few weeks, it’ll still be productive and producing passive income for you – even when you’re not actively working on it.


 

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Creating Info Products as a Source of Passive Income

Passive Income Challenge Day 6.
Creating Info Products

You may not realize it, but information products, known as Info Products, have been around longer than the internet. An info product is simply a way to provide information to the customer about a specific issue, problem, or circulate information. The info product can be any type of medium, such as a book, video, membership site, podcast, the list goes on. It can also be a combination of all the above.

If your audience needs the information, then you should create it. Period. It can be something like “How to Become a Minimalist” or “Lose Weight in 30 Days” or it can be a book about your journey to success with tips for the reader to follow. It can be in a variety of forms, a combination of forms, and if it covers information that your audience wants, it can also be a source of passive income for you.

Here is how to make that happen:

Create the Content

Once you decide what you want to create as an information product then you need to decide how you’ll create it. You can create it yourself, you can get help by hiring someone else to do it for you. You can sift through all of the content you already have and piece it together into one info product. You can even combine several types of information products together, such as a podcast episode with a workbook, and create an amazing info product that everyone in your niche will want.

Get it Up for Sale

Once you’ve created and packaged the product, you’ll want to sell it. The best way to sell it is in a way that you can get affiliates to also promote it and earn a commission on it. It’s a lot cheaper to pay commissions than it is to pay for reaching people on your own via advertisements on social media. If you can attract super-affiliates, that’s going to explode your sales.

Set Up Promotions

You can set up promotions in a passive way. Once you load the information into your autoresponder, into your social media schedule, and get it up on your blog as a post and a page, all you must do is promote it and let others promote it. Then you’ll start raking in the income passively from here on out.

Provide Customer Service

Once you start selling the info product, you will need to provide customer service. You can set up some automation on this process by using a searchable helpdesk and ticketing system. But, you will only have to create that one product one time.

Once it’s set up, providing customer service will be your only role in making money on the sales. If you create a product that is more evergreen content, then it will last a long time and you can almost create an entire business off of one great information product!

creating info products, passive income challenge day 6

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Any Online Business Can Benefit from Passive Income

Passive Income Challenge Day 3
Online Business Can Benefit from Passive Income

It doesn’t matter what you’re doing right now as your main source of income. You can add passive income sources to it. Having multiple passive income sources will give you some freedom to go on vacation, be sick, and be choosier about the work that you do and who you do it with. Let’s look at a few different examples of small online businesses and how they may benefit from adding passive income to their business model.

Website Designer – While designing websites may be your main source of income, there are things you can add that will boost your income. For example, you can create a recommended tools and services page that lists everything you love with affiliate links and make sure you give that to people on a regular basis. You can also recommend directly to clients with your affiliate links different services such as hosting, domain name purchasing, autoresponder services, and whatever else they need.

Virtual Assistant – As a VA, you provide some form of service in a particular niche to your clients. There are likely products and services that you know work well for most of them. You should become an affiliate for those products and services and, again, make it a habit of recommending them to all your clients.

Writer – If you write content as a ghostwriter, then there are many opportunities to expand your income with passive income. You can recommend services, platforms, and more to your clients. You will get ideas from them based on the types of software and services they use.

Coach – A coach, depending on their niche, has wide latitude in choosing different software, services, and products to recommend to their clients and community. For example, if you’re a health coach, any products that you believe are good for your clients can be promoted as an affiliate.

Niche Blogger – Whatever niche you blog about, there are products and services that you can join their affiliate program and promote to your audience. Promote them in the content, on a special recommended products page, and within autoresponder email.

YouTube Star – Again, whatever niche the YouTube star is in will inform what types of products and services are promoted. If the audience needs it, then you should find a way to promote it. Get people to join your email list so you can promote more there.

Adding passive income can benefit any type of online business in many ways. Making money in six months based on something you did today is a great feeling and can provide the security that you need in the online business world.

Any online business can benefit from passive incomeBenefit from passive income.

P.S. Sharing is caring! So be sure to share this with your network and help fellow female entrepreneurs kick 2021 in the arse!


In case you missed previous and posts, here they are:

Day 1: Why You Shouldn’t Put all the Eggs into One Basket
Day 2: What exactly is Passive Income?

Passive Income Challenge Day 3
Benefit from Passive Income

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What Exactly is Passive Income?

Passive Income Challenge Day 2

What exactly is Passive income? The term itself is probably a horrible term to use. Passive income isn’t really all that passive. What really defines it is that you do the work once, and you keep earning from that work repeatedly. Whereas with non-passive income, you are trading hours for dollars and do the work once and get paid once. Let’s look at some examples of passive income ideas.

What Exactly is Passive Income?

Investing in Stocks – This is one that everyone is familiar with. When you take a certain amount of money and invest it each month, the interest you earn on that money is a form of passive income. You simply invest the money, and if all goes well, you will get a return on your investment in the form of interest payments.

Buy & Invest in Rental Property – This is another form of passive income. You buy the property, hire a property manager, and collect rent. The real estate agent finds the property, the property manager does all the labour, and you just invest and collect your rent every single month while also building equity in the property. That’s income today and income tomorrow. passive income challenge day 2

Publishing Books – This is a great form of passive income. You write a book, publish it, and then collect residuals from sales for as long as the book makes sales. You really don’t even have to write the book. You can pay people to do that. A classic example is the Chicken Soup for The Soul franchise. They have sold more than 500 million copies worldwide, earning over $100 million per year.

passive income challenge, what exactly is passive income

Affiliate Marketing – This involves promoting someone else’s products or services and when someone buys, you get a percentage of the sale. You can find opportunities within your community, on affiliate platforms like Clickbank.com, Amazon, or if you like a certain product, go to their website to find out if they have a program.

Develop a Digital Product – Any digital product that you sell over and over again, such as an app, or courses, you can earn passive income doing that. You create a digital product, then your job is to promote it and sell it. You can even get affiliate marketers to help you.

Woman smiling and spinning her hair, passive income challenge day 2, what exactly is passive income

YouTube Star – This type of income doesn’t seem very passive at first. You must produce a lot of content on a regular basis that your audience likes and will watch. You make money via advertisements, sponsorships, and affiliate marketing options as a YouTube Star. You don’t even really have to be a star to get started. What makes it passive is that you will earn money on the videos year after year, not just once.

Blogger – Most bloggers would not say their job is passive, but since you do the work once and can get paid repeatedly, it’s still considered passive income. Usually, you pick a niche in which to blog. You can do product reviews, how-to posts, and more. You earn money by placing ads and affiliate product links in the posts.

As you see, there are many ways to add to your income streams. The best course of action is to start with one thing, and then build onto it as you go. Work on it, promote and wait until you’re earning something on one idea before moving on to the next.


 

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Why You Shouldn’t Put all the Eggs into One Basket

Passive Income Challenge

Whether you have your own business, perform contract-based services, or work for someone else full time, the fact is having multiple streams of income is the best way to build some financial security into your life. Think about it, when one income source dries up, you have the others. Not only that, if your work depends on you performing a task, what if you get sick? What if there is another lockdown? Then what? That is why I am hosting this Passive Income Challenge.

Thankfully, when you are working online, there are ample opportunities to build multiple streams of income to build your net worth, provide income security, and create a safety net you can fall back on during difficult times. In fact, one could argue that as of 2020 there really is no job security – no matter what you do. So, my advice, regardless of what you do, you should seek to find ways to create more than one stream of income.

passive income challenge

Everyone has a lot at stake. There is rent to pay, school fees for your kids, insurance, simple living costs, and I am sure I don’t need to mention that others are relying on you for their basic needs. Make no mistake: it’s not having a business that is risky, it’s having only one source of income.

Most jobs don’t last for 30 plus years anymore, and if they do, the pay doesn’t rise to match the cost of living. That is why creating multiple sources of income will alleviate a lot of stress you don’t’ even realize you can alleviate. The stress and fear of another pandemic lockdown, of being laid off, the fear of losing that one big client, without these hanging over your head, you are able to relax a little with your working life.

If you look at the “rich and famous”, they do not rely on one source of income either. Even if they inherit money from a parent, they usually take that money and invest in several business opportunities so that they can earn a little money from each venture and not worry.

Passive Income Challenge

 

For example, Kylie Jenner – she was born into money, a LOT of money. Yet, she started her own company, she models, she has tv shows and I am sure there are a lot more streams of income than what the public is aware of.

By diversifying her investments, and income generation, and by spreading the risk out so that she won’t suffer if something goes wrong. Now, I am no Kylie Jenner and I am sure you are not either – so if something goes wrong for us, we will be put in a more difficult situation.

 

That is why I am doing the Passive Income Challenge!

As you are going through this challenge with me, remember the Dragons on Dragon’s Den, who are already rich and are investing money in small business owners, entrepreneurs, and inventors. It’s not because they don’t already have enough money. It’s because they’re hedging against something happening to their original source of income with the other streams so that they’ll never be without. Because when you have many streams of income, you have options.

[Tweet “When you have many streams of income, you have options. Take the 30-Day Passive Income Challenge!”]

You have the option not to take just any client on to feed your family. You have the option not to work at that 8 to 6 job (face it, there are no 9 to 5 jobs), and if you’ve kept your expenses low, you may even have the option to just ride out another global lockdown, depending on the other sources of income without too much sacrifice. Creating passive income can change your life completely.

In this challenge, that’s what we’ll explore because there is no security in one income stream. You need many different streams to create an environment where you will not be ruined if just one of those streams should end for whatever reason.

P.S. Sharing is caring! So be sure to share this with your network and help fellow female entrepreneurs kick 2021 in the arse!

30-Day Passive Income Challenge

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