Money AND time freedom is the goal. A great hack to achieve just that is to balance your active income with passive income. To learn more about what passive income is, go to a past article HERE. In a time where it takes a bit longer to create like, know, and trust to garner clients for high-ticket programs and services, passive income that is also low-ticket can warm up cold audiences to your more expensive solutions while making you money. By leveraging low-ticket, passive income, you can even make money in your sleep!! Your brand can be making money even when your main offer is not; frankly, if you don’t then you are leaving money on the table. Let’s talk about 4 categories of passive income and a list of examples for each for you to choose from and incorporate into your business model:
Low-content books are typically books that require minimal original written content, making them easier to produce than traditional books:
- eBooks
- Journals
- Devotionals
- Coloring books
- Planners
- Organizers
- Workbooks
- Logbooks
- Notebooks
- Sketchbooks
- Recipe books
- Memory books
- Quote books
- Habit trackers
Audio products have become more popular as clients listen while they do other things. Review this list of possible passive, audio products:
- Guided meditations
- Affirmation recordings
- Language learning phrases
- Education summaries
- Interview series
- Tutorials
- Soundscapes or background noises
- Visualization series
- Podcasts series
- Motivational speeches
Video products have always been popular to give visuals while conveying content and knowledge of value. Review this list of possible passive, video products:
- Live event replays
- Trainings
- Courses
- Explainers
- Time-lapse
- Slideshows
- Informational vlogs
- Demonstrations
- Unboxing and reviews
- Behind-the-scenes
- Documentary
- Virtual tours
- Comparison videos
Miscellaneous products that don’t fit neatly into the other categories but would be great as low-cost, passive income products:
- Printable templates
- Digital templates
- Digital software
- Digital graphics, art, stickers, emojis, etc…
- Photos
- Mobile apps
- Affiliate marketing
- Outsourced services
- Drop shipping
- Domain flipping
- Peer-to-peer lending
- Niche websites with ad opportunities
- Rent space or things
- Licensing/franchising
- Vending machines
- Stocks, bonds, & high-yield accounts
If you need support with creating passive income for your business, let’s talk. It’s FREE. ShaCannon.info/talk