Is Passive Income a myth ?
It’s hard to get good informations on this subject, it’s become so much nonsense…
That doesn’t stop us from asking a real question:
How to secure, structure and scale your business so that it no longer depends on your time and the “seasons” by creating your own muse?
If you work as an expert in coaching, consulting, support, training…
But you’re fed up with selling your time, each client takes up a lot of your energy, your agenda is saturated with one-to-one sessions (which make you reach an exhausting ceiling) and you toil for little results…
So, if your current activity is down or at a standstill precisely because it was based on face-to-face or live sessions, the seasons, the time when you’re available, it’s time to diversify and bounce back!
But how can you transform your expertise, your knowledge, your skills, what you’re already doing into something “digital”?
It’s time to create your “muse”!
When people ask me : “is passive income a myth ?”
Yes AND No! 🤷🏽♂️
Technically, I’ve been making a living with passive income since 2012, ever since my very first Digital Nomad trip to New York where I started making videos on Youtube.
After slaving away for 3 years doing consulting for a pittance an hour (I didn’t know how to sell myself), I decided to find another way to “get money” without selling my time, especially since at the time, at almost 25, I was dreaming of traveling…
10 years later, after visiting several countries, this is still my model:
* My business is largely automatic
* My customers are based all over the world
* Sales are made while I’m traveling, in bed sleeping, on the toilet…
* And even while I was in hospital a year ago, the business was still going!
Just between you and me: I’ve been doing this for over 10 years now and have lived very well from it all that time, to the point of recruiting a team for new projects… (Team totally remote: France, Martinique, Portugal, Spain, Indonesia…)
And I’ve stopped capturing sales every day on beaches, trips, on the plane etc. There’s enough seniority in my content to show that I’m really passing on what I’ve been applying all these years, and the lessons of failure… !
🤔 Isn’t that the dream? 💭
A business that doesn’t depend on my time, your moods, the “seasons” or geographical areas, that leaves time!
⚠️ But Beware of the bullshit of passive income:
Yes, you have to work! You have to create systems, control your figures, renew yourself in marketing…
🍸The cliché of Mojitos on the beach is a myth! (I’ve stopped using those cliché photos too).
So yes, I used to make money drinking Mojitos on the beach, but if I stopped working too long, it would end (the world changes and evolves it seems).
Even the money I invest elsewhere to generate passive income (portfolio) requires work!
But that’s another way of looking at work:
- Planting a seed (creating a system)
- Taking care of it and watering it (a lot of work)
- Once the tree is mature: Harvest the fruits for the rest of your life
- While taking care of the tree from time to time (but less than in the beginning)
- Plant other seeds…
Passive income is never really passive, but the aim is to spend time on what you love and leverage it!
I’ve been creating digital offerings for over 10 years, in a wide range of fields.
First you need to find and determine the right offer, i.e. what you can digitize in your field of expertise, but also what will sell online (there are special codes on the internet and these have changed over the last 10 years).
I’ve sold so many different products at different times (and I’m still launching new ones) that by now I know what sells and what doesn’t on the Internet.
Then you need to create your offer, which can be done very quickly using simple tools and methods, for a professional result.
By the way, I don’t recommend launching into something too complex or big, as many gurus advise…
The simpler and more specific you start, the quicker you’ll make a profit !
Then you need to put this offer into a system, which will run on its own and feed itself. These days, we have super-simple tools that don’t require a great deal of technical skill.
The last step is to get the machine running: optimize conversions and drive traffic.
With fairly efficient systems, you can get customers quickly and keep the machine running automatically, provided everything is done right.
So the best way to start is still to systemize the distribution of a digital product.
Want more advices about it ? Ask your question on Twitter @Joyangting