Make Passive Income a Priority
Is your income limited because it depends primarily on your time? Do you have income when you're speaking or working with clients, and no income when you're not? It's easier than you think to quickly create and sell information products and generate passive income. Here's what one author and speaker did. And you can do something similar.
Is your income limited because it depends primarily on your time? Do you have income when you're speaking or working with clients, and no income when you're not?
It's easier than you think to quickly create and sell information products and generate passive income.
Here's what one author and speaker did. And you can do something similar.
Before his book had sold enough copies that anyone would recognize it by name, this author had a chance to speak at the American Orthodontics Association. Unfortunately, he was only selling the book at the back of the room, and his other books, tapes and videos were low priced and also meant little to most people at this point in time.
He needed something that would generate a lot more than the book's $20 sale price, yet not take away from badly needed book unit sales! He put together a simple and small 4-page catalog/brochure that detailed the benefits of each productthen put the book and his other products into a bundled package, and priced them at $299. It took 6 hours and $572 to do the prep work, and he sold $31,000 of these packages!!
When you have only one product to sell at the back of the room, that's all you can sell. The first step in my "Turn What You Know into Cash Flow Now System"" is making passive income a priority so you can find the time to leverage your two most valuable assets: 1) What you know and 2) Your time. You can quickly create products that sell online and at the back of the room, similar to what this author did.
At the same time, generating passive income is not magic and it doesn't happen overnight. You must make it a priority. Here are some things you can do now.
Take a look at your day and when you make time for preparing presentations, marketing and creating products. If you don't yet have time in your schedule for creating products, make room in your schedule for it starting today. Prioritize your daily task lists, schedule in your follow up time, and put a pause on non-essential time leaks and the activities that are "time sponges" - you know, the ones that soak up all your time. You know you've been in "time sponge" activities when the whole day goes by and you don't know what you did all day or what you accomplished. When you put a pause on these activities, you can fully focus on creating products and passive income.
Cluster your time so that you have client days, business and product development days and days off so that you make the most of every minute you have. When you do that, your mind focuses on the task at hand and you make a lot more progress.
Schedule appointments with yourself and mark them in your calendar in pen. These are appointments to write, to create your proprietary system, and to produce your products. Build production time into your schedule. For example, it takes approximately 2 weeks to edit and produce CDs once they're recorded. Decide how many products you'll develop this year. I created the special leveraging system so that you create a series of products from one set of ideas or principles - that is, your proprietary system. Leverage everything you do so that you generate passive income. That's the commitment you make at the beginning of the year.
Plan the sales of your products to coincide with speaking events or important conferences. If you're speaking or exhibiting at a conference, plan special promotions and offers, too.
Making passive income a priority means scheduling consistent time for developing and selling your products. It's easier than you think.
P.S. Who was the author referred to in this article? Jack Canfield. Before he was a best-selling author and guru.
* Write down the special events and conferences you'll attend, speak at or give this year. List the products you'll promote there.
* Make a list of presentations, programs and materials that you've already created that you can re-purpose for a special event or conference. You're already on your way to creating info products that sell!
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ABOUT THE AUTHOR
Jan Wallen works with individuals and companies that want significant sales results. Jan is action- and results-oriented. Once you start working together, she is 100% committed to significant sales results for you. To learn more, call (646) 485-4059 or go to http://www.janwallen.com