I know I’m biased, but passive income is the bomb. Once I discovered that it’s possible to build an entire 6-figure business around passive income products – ecourses, ebooks, membership sites etc – I never looked back.
It’s quite rare that I do any 1 to 1 work these days. Over 90% of my income is from passive products with automated sales. It’s a dream come true!
My top 4 reasons for building a passive income business
There is no other way to earn money as you travel, play and vacay. Ok, you could Skype clients as you travelled the world but honestly I’d much rather make automated passive income sales than have to mess around with crazy timezone differences to earn my money. The internet has given my the tools to create helpful sh*t to sell online so that I don’t have to choose between being of service OR being a free-spirit. I can do BOTH.
Let’s be honest, as much as we’re in this for the passion & purpose; we’re also here to make money too. It’s kinda the definition of what being in business is. But it’s really hard to make decent income if you constantly trade your hours directly for money – you’re already on a losing game because there are only so many ‘sellable’ hours per day.
Unless you’re super-famous and able to charge thousands per hour, the reality is that you’re going to hit an income ceiling – fast.
Passive income changes the game. In fact. it throws away the game and stomps on it’s head. Passive income brings you the pathway toUNLIMITEDincome. Holy f*ck.
As a service-based solopreneur – like me – you’re probably amped up each day to serve your tribe and make a BIG impact with your work, right?
But it’s hard to do that if you’re still trading hours for dollars and working 1 to 1 with clients or even groups of clients.
Passive income products – ecourses, ebooks, toolkits, membership sites etc – allows you to package up your sparkly brain for people all around the world to buy online and use.
How amazing is that?! you no longer have to work directly with a person in order to be of epic service – you can reach hundredsthousands of people with your work.
4. FAME & FANS
Online there are no borders. Passive income products are global – which means you can create an epic following from all over the world.
The more people that buy your work, the more countries that hear about you, the more well-known you will become. Eventually you can rule your niche and become ‘famous’ for your work. Seriously.
Passive income products like online academies and ecourses skyrocket your status in the business world – it’s assumed that if you’ve create a course then you are seen as an expert in your field; a teacher, a leader. This level of peer recognition, global fanbase and ‘fame’ increase your clout and clients will start seeking you out as ‘somebody’.
Less hustle for you!
EXAMPLE: My 5-star spa holiday in Ibiza paid for itself
In July I took my man and I off to the party island of Ibiza for 7 days of sunshine and relaxation. I booked a suite at a prestigious spa hotel and spent £5000 having an amazing week. Work was banned – I didn’t even bring my laptop with me.
While I was enjoying fruit platters and Cava for breakfast – seriously, they served fancy sparkling wine with breakfast – my bank account was secretly pinging with passive income sales.
My holiday cost £5000 and I made that back while I was there – NOT working. This is why I love passive income so much.