What’s all the hype about passive income anyway?
It might be no surprise to you that I am a fan of passive income. I created Create Passive Income with Ebooks for a reason…
But, here’s the point I want to make super duper clear in today’s quick video.
Passive income is not optional; it’s essential for entrepreneurs.
You might have several different ways you make money in your business. Matter of fact, I hope you do! Diversification is great. They certainly don’t all need to be passive income streams. If you love your one on one client work or seeing patients, awesome!
There’s only 24 hours in a day, and my guess is you don’t want to be working all of them (sleep? What’s that?). One on one work is difficult, if not impossible to scale so a great reason to focus on passive income streams is to increase your income.
I like to say that passive income is like insurance for entrepreneurs. And insurance isn’t optional, it’s essential.
It’s income that continues to roll in whether you’re sick, need a day off or a day with your family, or are busy working on other projects.
Passive income gets a bad rap with images of lazing around the beach with a laptop but all it is, is really just the tool we use to do the work upfront and continue to reap the revenue over time, long after the work is done.
No more panicking if your one on one client work slows down or if you’re not making as much money from ads or other income out of your control.
What’s the best way to create passive income?
The easiest, fastest, least expensive way to create passive income is with ebooks.
To this day that’s still where the bulk of the income in my health and nutrition business comes from.
If you think you couldn’t possibly write an ebook, think again. If you can write an email, you can write an ebook.
All you need is the 6 proven steps (download the cheat sheet here) and to carve out the time and just get it done! You can tweak later.
If you’re waiting on a bigger audience, more traffic, or pigs to start flying 😉 listen to Holly’s story here on how she made no excuses, rolled up her sleeves and launched her first ebook which sells itself while she works on other projects.
I'd love to hear from you! Do you have passive income in your business? What is the best way that you found to create a little bit of insurance in your business so you're not working like a crazy person?