Steps for Creating Passive Income

I can’t count the number of times people have asked me about creating passive income because it is hard to know where to begin. My journey with passive income started a couple years ago when I started selling digital products in two Etsy shops, where I brought in over 20k in just over a year. Of course, it has come with a lot of work and little trial and error (and dealing with people copying my products). Overall, it has given me relief when my client load is light. If you are wanting to start, but not sure where to begin, I have a few ideas and steps!

So, what is passive l income? Passive income comes from a project that requires little effort to run, such as courses, books, digital prints, affiliate marketing, blogging, etc.

The first step to getting started is to think about your clientele and what they need. Get really clear on this step. For example, my main Etsy shop started because I found it difficult to find professional and attractive intake forms Reiki. I knew that I could help fill that need through my background experience. Once my shop was established, I started adding other products - but tailored to these customers.

A friend who leads group travel plans to start affiliate marketing on Amazon because people are always asking her where she gets the clothes and accessories for travel. This is filling the need of helping her clients and creating a side income for herself.

TAKE THE TIME TO GET CLEAR AND NARROW DOWN YOUR THOUGHTS. REALLY THINK ABOUT HOW YOU CAN BE OF SERVICE TO YOUR CLIENTS IN YOUR MARKET AND WHAT THEY NEED.

Once you have your idea, it is time to create an outline of your offerings, what they will look like, what medium will you use to offer them (Etsy, website, social media, etc.). I like mind maps to categorize and plan all the details. I then start a checklist of everything that I need to get accomplished.

You will also need to create a marketing plan of how you want to get in front of your customers (paid advertisements, growing your email, launch plan). You can’t just sign up for affiliate marketing and expect people to buy, there is a process. You can’t create a book and put it on Amazon and expect people to find it. Also, just posting on a product link on your social media account doesn’t work.

For example, if you plan to sell a course or a workbook, creating a sales page on your website that is clear and concise, is so important. Having an email list is also important to start growing. For Etsy, I pay extra to them for advertising and I run separate ads on social media to help drive traffic.

If you are looking for consulting on Etsy or would like help designing and marketing a membership website, eBook, or course material, please reach out! It is my favorite part of my job! Who knows…. maybe I will make a course on it. ;)

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