This month we’re talking about how to create passive income for your online business! Each week, I will explain one step in the process and offer you some support in making it happen!
In this step-by-step Blog Series, I will teach you the key to creating passive income stream(s), the step-by-step process I use to create a passive income funnel, and insights around how I make $6K per month with my passive income streams.
Last week, I explained the importance of determining your ideal client and the main problem you will help them solve. (If you haven’t yet read Part 1 in the series, head back a step and start there!)
Now that you understand WHO you want to work with and WHY, it’s time to start offering some services!
Step Two to Creating a Passive Income: Design a FREE GIFT for Your Ideal Client!
This is also called an opt-in, a freemium, or a freebie.
Offering potential clients a free gift is a great way to start building a relationship with them! This part in the process is kind of like when you meet someone for the first time, you feel that CLICK where you both want to get to know the other better, so you ask for their phone number (in this case, an email address)! It’s that connection that says, “We’re more than just acquaintances now!”
Imagine your ideal client and her problem. Design your free gift for this person!
(In subsequent steps, we’ll talk about how you will offer this free gift, in exchange for her email address. But for now, focus on MAKING this special freemium!)
Plan to create a free gift that addresses your ideal client’s pain point (her main problem, the one you identified in step one!). This free gift will either increase pleasure in her life OR take away pain.
Here’s an example:
One of the opt-ins I’ve created for my running clients is a FREE Running+Nutrition Guide (check out the link to see the content and design that entices MY target audience).
I offer potential clients five days of workouts, strength training, and nutrition tips, because I know that my clients generally struggle with creating structure and time management necessary to maintain a running+nutrition plan. Because my clients don’t feel like they have adequate time to figure out their own plans, I offer them one that’s ready to help them.
Do you see how my freemium relates directly to my ideal client and her pain point? My freemium will take away some unnecessary stress in her life!
Does this sound simple?!
Actually, this the hardest step in designing a passive income funnel!
You’ll have to put some huge effort into this step in the process, because you’re creating something valuable to share with someone who you want to purchase from you.
Woah. That’s a lot.
If you’re starting to feel overwhelmed here, hang on! I’ve got good news:
You can OUTSOURCE some of the work!
(This is what I do, too!)
I am a runner and a business owner...meaning I’m not a designer and I don’t always know how to make my material look aesthetically pleasing to my run clients. This is why I have an amazing design team to do this work for me!