Creating passive income is one of the most exciting things I talk about and teach.
When you create something one time and you make money from it again and again with little to no input from you, it’s bliss.
For me, I create passive income through things like online courses, memberships, group programmes and digital resources. It’s such a brilliant way to make more money, more easily.
Creating an offer like this means you can stop relying on trading your time for money. You can take time off more often, enjoy more holidays, and spend time with the family while you rest easy knowing the money still comes in.
It’s such a fun way to make money. And it’s why I have a whole strategy and process to teach my clients how to make this their reality.
It’s called the I.M.P.A.C.T System and it gives you the step by step process to creating and selling your passive income idea.
And today, I want to walk you through those steps so you too can get started on the path to a life of more money and freedom.
This is where we’re forming the idea for your passive income offer. We’re fine tuning who it’s for and what problem it’s going to help them solve.
You decide on the format for your offer, whether that’s an online course, a membership, a group programme or a digital resource.
At this stage we’re mapping out the structure and exactly what you’ll include in it. This might be the different modules or lessons available, coaching support or a community element.
It’s also where you’ll settle on a name for your offer and start thinking about the tech you’ll use to deliver it to your customers.
This is about getting clear on what that thing is. And that all starts at the ideation stage.
This is where we get clearer on how you’re going to deliver your offer. Many pet pros I speak to are self-confessed technophobes. Tech is often a big barrier for them when it really shouldn’t be, because there are many super intuitive platforms out there that will do a lot of the hard work for you.
Both have everything you need to successfully create and sell your offers. Both will wow your students and help them easily consume the brilliant learning material you create for them.
Teachable and Thinkific are two other popular platforms available. It’s a good idea to trial run a few and choose the one that works best for you.
Ultimately at this stage, we’re thinking about how you’re going to pull all your training material together into the platform you’ve chosen, and getting to work on building it out.
When you’ve solidified your offer, next you need to create a knock-out sales page on your website so people can understand what it’s about and how it’s going to help them.
This should showcase the big benefits of your course or membership and make it really easy for them to buy it. We want to get clear on what makes your offer unique, and why they need this in their lives right now.
There’s an art to creating a sales page that converts. It’s a big part of what I teach my clients. Because when your sales page works, it can make the whole sales process more hands off. And that’s when you get people buying your digital products out of the blue. When you wake up to a bunch of sales in your inbox, that’s when the magic happens.
In order to sell your offer, you need to build an audience for it. And primarily we want to start building an email list for your offer.
The best way to do this is to create a lead magnet that relates to the paid offer you’ll eventually sell. A lead magnet is a useful resource that you offer for free in exchange for your audience’s email address.
So for example, if you’re a dog trainer, you might want to create a guide on the ‘5 steps to perfect the perfect recall.’ Then perhaps your passive income offer is a recall course. That would work perfectly.
Because the two relate, when it comes to open the doors for your course, those subscribers will already be primed to buy, because they’ve already shown an interest in the topic. See how that works?
So we want to build your audience consistently leading up to the launch of the passive income offer. It’s an important step, because if you don’t have an audience, you’re going to struggle to make sales.
At this stage, you launch your passive income offer. This is where you take people on a journey with you over an intense period of time. Then you open the doors to your digital product at the end of it.
This might be something like a three to five day challenge, it could be a webinar. It might be a workshop or a masterclass. It could even be a very simple email campaign launch where you email your list over a set period of time.
You share content, take them on an experience with you, open the cart to your offer and invite them to buy.
The doors may be open for five to seven days, or you might have expiring bonuses to pull people off the fence and create urgency around your offer.
At the campaign stage you’re going all in to introduce your passive income offer to many people. So it can be quite an intense experience and requires a lot of preparation. But it’s worth it because you have the potential to welcome in many people and make a big chunk of money at once.
This is where you can evergreen your marketing for your passive income offer. Where you can start to bring in a steady flow of customers for your offer on automatic. But there’s a caveat to this. You should always launch your offer at least once before you consider automating.
You’d essentially create an evergreen sales funnel for your offer. For example, anyone can sign up to watch a recorded masterclass or workshop you’ve created that’s no more than 60 minutes long. Then they’re sent a series of emails that sell into your paid offer.
To encourage sign ups, you might have an early bird discount or expiring bonuses, which is all automated and unique to every person that signs up.
There’s software available that you can use to achieve this real urgency. Deadline Funnel is one of the most popular tools out there. I personally use Thrive Ultimatum.
By evergreening the sales system for your course or membership, it can bring in sales for you all year round.
Evergreen funnels don’t work quite as well as launches. But they’re great to work alongside your launches throughout the year to bring in a steady trickle of sign ups.
These are the steps of my I.M.P.A.C.T System and I do hope you found them useful. We give you the exact steps on creating and selling your passive income offer inside my course Ticket To Freedom.
It’s offered as a stand alone course, or as a whopping free bonus when you sign up to the Pet Biz Thrive Online Club.
Is it time you stopped trading your time for money and created a whole new limitless revenue stream for your pet business?