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Creating Passive Revenue in Your Business


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Most of us have heard about it. Most of us want to make money while we sleep. Most of us have the platform to do it. However... If all of this is true, why are so few people harnessing the power of passive revenue?

In this discussion with Erin Blaskie, Internet Marketing Strategist, we’ll look at how you can create passive revenue regardless of what type of business you are in. Erin will walk you through some of the most effective forms of passive revenue and the business models that sustain each option.

Erin will take you through a step-by-step guide to creating and selling your information products via the web so that you really can earn an income without trading your hours for income. Most importantly, Erin will help you come up with ideas for your products and how to use a few tools in the creation process that we’ve all had from birth (and a few others we’ve learned about along the way).

With a zero-sales-pitch, leave-it-all-on-the-stage approach, you can be sure to take a lot away from this discussion and be able to participate in an open conversation with Erin and your fellow attendees.

Published in: Business, Technology, Design
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Creating Passive Revenue in Your Business

  1. 1. Creating Passive Revenue aka Making Money While You Sleep<br />Erin Blaskie<br /><br /><br />@ErinBlaskie on Twitter<br />
  2. 2. Me in 60 Seconds or Less<br />Started my first company when I was 21<br />I am in a passionate love affair with the Internet<br />I only have hobbies I can also monetize except I don’t know how to monetize my shoe obsession<br />My professional crush is the code genius behind WP<br />I like making money while Isleep ---------------------------&gt;<br />
  3. 3. I Want to Share With You...<br />What passive revenue is.<br />How to create your very own time machine and create a 25th, 26th and even 30th hour.<br />How to generate ideas for your information products.<br />A step-by-step guide to get your first info-product done and in the hands of customers.<br />
  4. 4.
  5. 5. Web 2.0 & Passive Revenue<br />As we use the power of the Internet more, creating income opportunities becomes vitally important.<br />With the troubles in the economy, more and more people are going online – thus needing solid revenue streams.<br />The Internet breeds community and community relies on sharing information and trends. We need to leverage this for our own products.<br />
  6. 6. What is Passive Revenue?<br />On-Going, Incoming Revenue<br />Income that your business generates on an on-going basis from activities that you are not exchanging time for.<br />Do It Once, Benefit For a Long Time<br />Income that you generate where you exerted energy once to create something but you benefit for a long time to come.<br />Reaching Prospects in Multiple Formats<br />Generally results from diversifying your business activities.<br />
  7. 7. What Can Be Leveraged?<br />Answers to Questions<br />Solutions to Problems<br />General Knowledge<br />Specialized Information<br />Cutting Edge Approaches<br />Packaged / Bundled Services<br />One-to-Many Approaches<br />
  8. 8. Taking Our Idea to Our Audience<br />The tangible side of passive revenue<br />E-books<br />Audio Programs<br />Webinars / Teleclasses<br />Online Education / Training Programs<br />Affiliate Revenue<br />
  9. 9.
  10. 10. Creating a Time Machine<br />My clock has 24-hours<br />Your clock has 24-hours<br />If we work a service-based business, we need to find ways to “trick” the clock...<br />Trick = LEVERAGE<br />
  11. 11. Why Don’t We Have More Marty McFlys?<br />The process to creating something seems overwhelming.<br />People are lacking systems to implement and build passive revenue into their business.<br />Some may feel like they don’t have an idea inside of them for an info-product.<br />
  12. 12. Breaking Down the Process<br />Creating / Formulating the Idea<br />Creating Content: Answering the Persistent Why?<br />Developing the Infrastructure of the Product and the Sales Vehicle for the Product<br />Creating the Marketing Message / Materials<br />Bringing It to Your Audience<br />
  13. 13. It Starts With an Idea<br />
  14. 14. An Abundance of Ideas<br />We all have an endless source of ideas inside of us. Pulling them out of us is easy.<br />Ask your customers what their biggest frustrations or problems are. Solve them.<br />When you get asked a question over and over again, don’t answer it one-to-one. Think one-to-many.<br />From childhood we asked: Why? Why? Why? The same approach can be taken to create educational training or information e-books for your customers.<br />
  15. 15. Coming Up With Your Info-Product<br />What do you have a solid understanding of?<br />What do people come to you often for?<br />How can you immediately solve a problem or answer a question of a client of yours?<br />What sort of tools or resources are you giving out often for free or one-on-one?<br />Have you struggled with something but overcome it and can now help others?<br />
  16. 16. I’m Still Stuck. Seriously!<br />Choose a date and a one hour time slot one week from today.<br />Sign up for a free bridge line at<br />Send an email to your list / notice via social media about an open Q&A you are going to do one week from today.<br />Host Q&A and see what questions / problems come up. Make a detailed list!<br />
  17. 17. The Creative Process<br />
  18. 18. Colouring & Socializing: Idea Fuel<br />Once you have your idea, mind map.<br />MindNode (Mac Users)<br />MindJet (PC Users)<br />Good ol’ fashioned giant white post-it notes and coloured markers<br />Survey your peers.<br />Ask them what their biggest frustrations or problem areas are when it comes to your topic.<br />
  19. 19. Creating Your Content<br />Start with the Basics – Assume People Consuming Your Product Know Very Little ;)<br />Weave in Stories or Case Studies<br />Interview Other People<br />Record Audios & Transcribe Them<br />Use Pre-Existing Material from Blog Posts or Articles You’ve Written...<br />
  20. 20. Creating the Content: Getting Paid to Create Your Product<br />Create a live program / group coaching program.<br />Create a live teleclass or in-person class.<br />Record everything and organize it instantly into a system (we like Prfessor).<br />Once the live class is done, turn it into a self-study program and voila – instant product.<br />
  21. 21. Creating Content: Unpaid (Bad Idea)<br />Speed of Implementation is Key<br />Use unpaid time sparsely.<br />Sometimes you’ll need / want to develop the content on your own time.<br />Published / print books<br />High quality audio recordings<br />Video shoots for DVDs<br />Products with Pre-Sale Periods<br />
  22. 22. Infrastructure<br />
  23. 23. Infrastructure for Your Product<br />Digital Delivery<br />Physical-Ship Product Delivery<br />University / Online Learning Platform<br />Combination of PDF / Audio / Video<br />Video Webinars<br />Teleclass Recordings<br />All of the Above – Mega Awesome Product!<br />
  24. 24. What Works Best?<br />Easily consumable, digitally downloadable, instantly accessible items.<br />Physical-ship is costly so avoid it where and when possible.<br />Survey your audience about how they like to receive / learn information the best.<br />Look at what other people in your industry are doing and do the opposite... ;)<br />
  25. 25. Infrastructure of Sales Vehicle<br />Website / Blog Site / Sales Page with Well-Written Marketing Copy<br />Shopping Cart for Purchases<br />Thank You Page<br />E-mail Autoresponder to Digitally Deliver Your Product Instantly<br />Affiliate Program (Optional)<br />
  26. 26. Marketing Your Info-Product<br />Affiliates / Partners / Colleagues<br />Offer commission for referred sales<br />E-mail Marketing List<br />Target list in a pre-sale period, launch period and periodically afterward<br />Social Media<br />Twitter, Facebook, LinkedIn, Squidoo<br />Clickbank<br />
  27. 27. Rinse & Repeat<br />Once you have your process down, rinse and repeat to create additional products.<br /><br /><br />Create a diverse selection of products for your business so that you are offering up learning styles for individual people.<br />
  28. 28. I Have A Lot More to Say...<br />Three Additional Presentations (Covering Multiple Styles of Pass. Revenue), a Guide to Creating Website Freebies and an Online Marketing Plan Kit... Yours for Free!<br />E-mail me at and put WebCom 2009 in the subject line.<br />Tweet me your e-mail address at @ErinBlaskie<br />Include YOUR biggest frustration, hesitation or problem around creating passive revenue... I’ll help!<br />
  29. 29. I Still Have More to Say...<br />But... I’ll stop here. ;)<br />Want to Learn More?<br /><br /><br /><br />@ErinBlaskie on Twitter!<br /><br />