Do you have a business that is based on service to others? You know, like business or health coaching, a virtual assistant business, or even financial planning? You've probably been going through the same routine that others in your profession go through, and have yet to find a way to break through to six figures without working yourself to death is to find ways to add passive income programs or products to your product funnel.
What's really terrific about having passive income programs it that it can also help you get more one-on-one clients who are willing to pay more money for the privilege of learning from you in person.
Imagine that, a product you sell can also serve as a lead generating mechanism to sell someone on even more of what you do! Affiliate Program Many traditional offline businesses don't consider an affiliate program as a way to promote their services or to earn passive income, but take a look at it this way...
if you sell just one product, book, or service you can use an affiliate program to help bring in more clients automatically.
The best affiliates are those who use your products and services.
That is to say, turning your clients into evangelical affiliates will help you bring more clients/evangelists.
Udemy and Other Online Courses It's really simple to set up an automated course on Udemy.
You simply load up your course with PowerPoint Slides, PDF files, and the system does the rest.
You can opt to be more active with students, or you can hire an assistant to do so, or you can let the course be completely automated, and maybe use it to build your email list and promote other services or products outside of the site where the course is hosted.
Kindle Books Do you have blog posts about "how to" do something? How about updating and expanding them into Kindle Books? You can also do the same for an interview you've conducted, a course you've done live, or and experience you've had.
Simply compile the materials into the right format and upload, and you're in business.
You can market the books on your website, in social media, and, of course, via affiliates.
You can even give them away free as an introduction to your other products and services within the pages of your book to attract more clients.
Membership Programs Installing a little technology on your website like a forum and a membership wall to create a fully automated group coaching program.
This is a great way to not only service your audience in a way that is practically self-serve but a way to introduce potential one-on-one coaching or consulting clients to your methods in a less intimidating way.
In other words, it's a good passive income model as well as a good way to let your clients get to know you so that they trust you.
Podcasts You may not realize it but you can make money from Podcasts too.
You can record them, put them on your website, behind a member wall, or on iTunes for a small fee.
You can also get sponsorships for your program to bring in extra money.
Recording a weekly podcast doesn't take much time but it can bring you money time after time.
(Plus, you can reuse a podcast by transcribing it and making an eBook out of it.
) There are so many different ways you can create passive income programs that will not only add to your bottom line now, but will increase the number of clients who are willing to pay top dollar for your exclusive, limited, one-on-one coaching and consulting.