Passive income is a beautiful thing.
Your bills are already paid before you even get up in the morning.
Anything you add to it is just ‘extra.’ It’s the gravy you pile on top.
Passive income gives a sense of FREEDOM in your life like nothing else.
You don’t go to work because you have to. Instead, you do it because you enjoy it.
That’s an experience I hope you get to feel at some point. It totally transforms everything else you do in your life.
For example, I do one-on-one coaching. That’s trading hours for dollars. But I do it because I’ve organized my business in such a way that I attract high quality clients I love working with.
The day it’s no longer fun is the day I transition to something else.
It’s the passive income that makes this possible.
So how do you go about creating one or more funnels of passive income?
Here are just a few methods I’ve used personally…
#1 – Lifetime Affiliate Programs
Promote once and get paid forever. This works best on continuity type offers, especially when customers stay with the company for years.
I’ve received monthly checks from a shopping cart company for close to a decade now. What offers in your market pay ongoing affiliate commissions for life with just one promotion today?
#2 – Kindle Books
Create a product once and get paid forever. Creating your own product, one you control, can pay dividends for years, but usually you’re required to keep selling it to keep money coming in.
Enter Amazon. Create it once. Get it online. Let them sell it. Collect the royalty checks. Currently I don’t get a large income from here, but it’s a nice ‘extra’ monthly income along with new customers filing into my business monthly with zero additional work.
#3 – Licensing Products
Remember those products you just put together? You could also license them out to other companies for a royalty or share of the profits. I’ve done several of these deals over the years where they continue to pay an ongoing licensing fee.
#4 – Continuity
My favorite income is ongoing continuity income from software, membership sites, print newsletters, etc. Usually this requires you to continue creating new content, but you can also outsource the content creation to others…making it an automatic process for you.
#5 – Autoresponders
Here’s my favorite. Write an email sequence once…and watch it continue to profit month after month.
What I’ll often do is look through all my email broadcasts and find the winners, those emails that brought in the most leads and sales.
Those are then added into my sequences as autoresponders for every new subscriber coming onto the list.
Once you have 30 to 90 days of these in place, you can watch as new leads come in…and are automatically funneled over to your related products and services.
Or you could combine this approach with method #1 and funnel new buyers into lifetime affiliate programs. Your email system is totally automated…and so are your profits.
I have clients who have up to 3 years worth of autoresponder messages!
Life is good.
But you have to know how to convert leads into sales. That’s where Autoresponder Alchemy comes in.
It shows you how to “model” my most successful emails and create your own unique profit generating sequences in any niche.