Let’s first establish what passive income is not. Think of the hours and hours you pour into your business to make it successful and profitable. Meetings, emails, phone calls and texts, social media posts, planning, purchasing, billing, and then the ACTUAL work you do. Let’s call that “active income”—income you earn from a significant investment of your time, energy, and attention every single day.
So, what is passive income exactly?
The term “passive income” refers to revenue earned WITHOUT that hourly, daily hustle. Instead, most options require an up-front investment of time and/or money, and then they generate on-going income with very little effort. Passive income allows you to earn additional revenue while you are working hard on the active parts of your business—and your life.
To be honest, many passive income revenue streams require a significant financial investment up front, things like real estate, investment dividends, rental income, or royalties.
BUT, there is an easier option that requires little (or no) working capital to get started: Digital Earnings AKA Online Passive Income. As a small business owner, there are many reasons why online income is the next step for you: you already have an established product or service to leverage, you value growing and leveling up, AND you can earn more without working harder. Sounds great, doesn’t it?
Look at this list of the most effective online opportunities:
- Affiliate Marketing—earn a commission by marketing other people’s products
- Digital Education through Online Courses—share your expertise
- Template Sales—give access to your tried and true templates
- Drop Shipping—sell products you love without keeping any inventory
- Print-on-Demand, Haands-Free Product Sales with your custom designs
- Advertisement Earnings—Allow ads on your channels & earn revenue from products you love
- Digital Creation Stock Sales—deliver your digital creations quickly
- Online Membership—provide exclusive content to your faithful followers
Heard of any of these before? Have you wondered if they are legitimate or worthwhile? Do you know people who make money from passive income streams? Does this list get your creative juices flowing? Can you already see how some of these opportunities would enhance your existing business but are unsure where YOU should begin?
We here at SOWBO want to help you get started earning passive income, so we’ve planned an intimate 4-day Mastermind event at the gorgeous Graduate Hotel in Midtown Nashville. Just for you.
Here’s a sneak peek of some of our Mastermind sessions:
How Online Courses Generate Income
How to Add Affiliate Marketing to Your Existing Business
What is Drop Shipping?
Sales Funnels 101
The Anatomy of a Converting Sales Page
If you are ready to invest in the future of your business and enhance your profits by learning how to add online passive income to your existing revenue streams, please join us for our Mastermind event on September 7-10, 2021 in Nashville, Tennessee. Get ready to connect with our speakers—all successful online passive income earners—who will share their personal experiences and expertise AND answer all your burning questions. (And, of course, there will be time for collaborating, networking, and enjoying the nightlife of the city!!)
Most importantly, you’ll leave with the knowledge and a plan to make passive income work for you!