Working with the notebook on the beach was the image that best represented the desire of those who wanted to start an online business.
Many false gurus have emerged, promising to teach methods for making millions on autopilot.
When people started to realize that this dream was just an illusion, they started to believe that every way to generate passive income on the internet was a lie.
If you came to this article hoping to find some “hack” to make money without at least putting your time and energy into building a real business, you will be disappointed.
However, if you want to know the truth behind the concept of passive income and stop trading your time for money, keep reading this article.
What Passive Income Really Is
What people really look for when they say they want to generate passive income over the internet is:
- Geographical freedom.
- Time flexibility.
- Work with what they like.
- Have time for rest, leisure and family.
- Make money without leaving home.
The most common way to generate passive income is through financial investments and rental of real estate. The problem is that before you can make money you need to have high capital to invest in one of these options.
Income is considered passive because it does not depend on exchanging time for money . Still, we can agree that renting a property requires that you find a tenant, take care of the property's maintenance and ensure that payments are made on time. This, among other activities.
Money doesn't count as magic as you enjoy life traveling the world without worrying about anything. You still need to manage these activities or hire someone to do that.
The same principle can be applied to any source of passive income, even those that come from digital businesses.
The biggest difference is that in digital media you can start with a low investment of money, but a lot of work.
When you create an online business, you have a store that operates 24 hours a day if you use the perpetual sales model. For example, if you go to the Millionaire Writer Course sales page, our writing and copywriting course, you can register now or during the night.
The work of attracting visitors, the brand, and creating the sales materials and the course have all been done. And although we invest in tests and improvements, as well as exclusive support for students, the income that comes from this product can be considered passive, since the larger work has already been done.
We have products to serve customers in all stages of the journey in Digital Marketing, from those who are starting from scratch to the major players in the market.
We have everything from checklists and ebooks to mentoring programs and masterminds, of the most diverse ranges of value, as you can see here .
Some of these products fit the concept of “passive income”, while others depend a lot on my time and energy, especially on delivery, as mentoring and masterminds not only need my active participation to close sales, but on delivery, which is done live and in a totally personalized way.
But let's see some products that are ideal for those who want to generate passive income:
6 Types of perfect products to generate passive income
Before choosing the best format to generate passive income, remember that the ideal is always to have more than one source of revenue for your business.
1. Advertising
You can generate revenue by monetizing your YouTube channel with ads or your blog with Adsense.
It is also possible to partner with brands, the famous publi-posts.
While not considering a good way to generate passive income for an online business, it can be a way of diversifying revenue
2. Signature products
Subscriptions are a monthly paid product, as is the case with the VDB Club , our digital marketing knowledge subscription, where we show the behind the scenes of VDB.
3. Software
This alternative is focused for those who have experience in the area of information technology, as it requires a lot of technical knowledge.
If you have a brilliant idea, but do not have the knowledge to put it into practice, you can hire a professional to do it for you.
Here at AIMagnus we invested in the development of the WordPress template called Aimena and also in the development of an EAD platform, Apollo , both of which are sold as recurring software.
4.Ebooks, audiobooks, spreadsheets or other materials
The ebook is the most common digital product format.
The production is accessible to anyone: just do a good research, write in any text editor and take care of the design.
Audiobooks, on the other hand, follow the same principle as ebooks for the production of content. The difference is that they dispense with the design and ask for a good quality recording.
Spreadsheets are one of the easiest types of digital products to produce.
They can be organizational, where the person only inserts information, or provide some calculation in a simple and automatic way, as we did with Kit Start, a kit of spreadsheets that we use in VDB.
5. Online Courses
The content needs to be more complete, which requires more time to prepare the classes.
In addition, you need a member area structure, such as Apollo , where you can deliver course material.
6. Selling affiliate products
When you affiliate a product it means that you will advertise that product to your audience with a special link, and for each sale made through that link you receive a percentage on top of the sale value, a commission.
That's why it's an excellent way to generate revenue, test ideas for future products and have a digital business.
To learn more about the subject, I recommend that you read the article “Affiliate marketing: how to generate revenue for your digital business through third party products” .
I started generating revenue on the internet with a simple product: an ebook. And even today, almost 9 years later, he is still a source of passive income for my business.
How I generated over 3 thousand dollars of passive income with a single product
At 10:00 on March 20, 2012, I launched a digital book on asset allocation, a strategy little known in USA about investments.
His price was $87 and, on the first day, 119 sales were made. That is, a turnover of $ 10,353.00 in less than 14 hours.
Even today, several years after its publication, even without any kind of updating or improvement in marketing , this digital book continues to sell.
Over this period, it generated total revenue of $318,283.33 . Or, an average of $3,281.27 per month.
An extra amount that falls on my account every month, rain or shine, which, despite being far from being my main source of revenue, is a case that shows that passive income really exists.
Of course, to get to these numbers, I needed:
- Write the 7 chapters of this book.
- Write the marketing plan (dates, target audience, sales strategy).
- Write content in advance with content on the blog.
- Write the sales page.
- Write the script and record the sales video without having to put my face on it.
- Write the sequence of emails with content that, at the end of a series, sold that digital book.
- Write ad text with images to attract the right audience for this product.
And also write the email to get the testimony of one of the most influential people in the world of finance and investments, the economist Ricardo Amorim, presenter of the Manhattan Connection program on GloboNews.
As you can see, there are several steps from creating a product to selling .
But once that initial work is done, your job will be to monitor and make improvements, which requires much less time and energy than those you used initially.
However, to keep the machine spinning, you need to continue attracting new people, whether through organic traffic, through the production of content, that is, through paid traffic.
And it is precisely at this point that most digital entrepreneurs end up realizing that not only does passive income fall into the account as they imagined, but it also requires hours and hours of online exposure to keep their personal brand relevant.
But… what if I say it doesn't have to be?
How not to be held hostage by your own content marketing strategy
A new generation of content creators can easily fall into the illusion that there is only one possibility to attract a loyal audience on the internet: making live videos or Stories every day.
However, as I have been working professionally and exclusively with digital content for more than a decade, it is easy to separate passing fads from fundamentals that resist time.
It's not because you see dozens of people doing Lives at night on Instagram that they work.
It is not because you find some videos on your timeline that they reach more people.
It is not because influencers make more than 30 Stories a day that you must also do to become an authority.
And yet: Daily Lives and Stories are sucking the lives of many people without having a clear result from that work.
I know some content producers who dedicate 2 to 4 hours a day to make Lives and Stories with consistency.
Although lives and stories work to grow a personal or professional brand, there is a very high price to feed the Instagram monster every day.
I say monster because that's how it works. The more Lives and Stories you make, the more it requires that consistency from you to maintain your audience.
Lives and Stories are used within 24 hours. Then they fall into oblivion. Content on organic media, such as blogs, podcasts and Youtube (for those who love to record videos), lasts forever.
That is, 5 years from now someone can search and find your content, becoming part of your loyal audience.
Assuming that you have, on average, 100 people live on your Live (which is already a very difficult number), it would take 10,000 lives for you to reach the same number of 1 million views in a video.
That is, it would take around 27 years for you to reach the same audience .
In the face of all this effort, maintaining consistency in the production of content is even more difficult. And the concept of passive income and freedom that so many people seek when they enter the digital market, goes down the drain.
If you have been following my Instagram @socialdevansh for more than 3 months, you may never have noticed an invisible practice, which is there to save my time.
I call it the MMC formula, which means Magic Multiplication of Content.
The same publication originally written for the blog has already been published on Instagram several times, as well as two videos on YouTube (one with over 1 million views) and even podcasts.
When we think about writing content, it is not about producing more, but about producing intelligently, so that not only do you have passive income sources, but also content production that is aligned with the values you want to build for the your digital business: freedom, prosperity and quality of life.
Post a Comment