Don’t blame me for this title. Blame Tim Ferriss! That guy’s got a lot to answer for. If it wasn’t for that tea-drinking, tango-dancing, measurement-obsessive, I’d still be in freezing cold London swapping hours for dollars (or pounds, actually).
Instead of which I’m on a 1,000 km jaunt through the northern Thailand’s mountains, hills and paddy fields on a fairly flash motorbike. Nothing strange or wonderful about that (although, this is Thailand, it is both strange and wonderful). But the amazing thing is … I’m working and earning while on holiday.
It was Ferriss who first introduced me to the concept of passive income. And it was blogging that introduced me to Ferriss. OK, blame the internet. Terrible thing.
What is passive income?
I’ve defined passive income many times in my income reports but, as you know, passive income is money earned from assets rather than from hours labored.
What are my assets? Well, my legs, obviously, but, leaving my many physical blessings aside, I have also created digital products – e-books and video courses – that sell and make money without me having to do any extra work.
That’s the idea, anyway. But, as Pat Flynn will tell you, no income is purely passive, you have to make sure everything is running smoothly and that the products are up-to-date, etc. But, the advantage passive income has over active is its scalability. Meaning you don’t have to work any harder to make more money, the products just have to sell well.
So how do we do this?
Get good at creating content
I’ve always preached the importance of blogging or, put another way, regular content creation. If you regularly do something, you get better at it. Blogging is a great way to exercise your “creation muscle”. You build up your content creation abilities in public until people will pay for your extra good stuff.
Build an email list
It won’t come as any surprise that email marketing was going to be mentioned sooner or later. The money’s in the list.
If you haven’t started collecting emails yet, start now. If you’ve started, improve your conversions by trying to improve your lead magnet or free offer that you give in return for email addresses.
Write those e-books; make those video courses
And finally we get to product creation. It’s unwise to publish a product without a following – a blog readership or an email subscriber base. (Unwise but not impossible).
Keep putting out the free stuff, even while you’re building the premium stuff. Consistency is key. Just as you consistently create blog posts and email the list, you should be consistently creating products.
It’s a marathon not a sprint. Your first e-book and your first video will not be your best. You just need to be motivated to keep going if you don’t succeed at first.
It’s a little bit like a spider crawling up a wall … and the motivation will come if you put out content quickly. You’ll start to see the results.
So why am I saying this?
Well, I’ve got a 45 minute mini-course that explains all my processes for creating over $5000 a mouth passive income profits from selling info-products. How to get the audience, how to build the products and, then, how to sell them and experience a life of scary bike trips through gorgeous scenery (the latter is optional).
Please, sign up for it at this page and you’ll have instant access.
I’m really proud of the free training which is shot in various places in Thailand and the UK. I’ve tried to make it as valuable as possible to anyone wanting to create and sell e-books and video courses. If you believe you have expertise you can communicate and are interested in earning passive income from it then this is for you.
AND, very important, I would love it if you could share this link with your audience: share on Facebook, Twitter, LinkedIn, Google+ … wherever you like!
You can do it
You can earn passive income from selling your expertise. I’ve proved this can be done! And, if you want to know how exactly, click on the image above and sign up for the free exclusive training.