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Developing Passive Income

Written by: Maggie Currie

Article Overview: Passive income is crucial to growing your business in a way that is not dependent on your time input. Passive income is income that comes without you directly having to work for it on an ongoing basis.

Developing Passive Income

Passive income is crucial to growing your business in a way that is not dependent on your time input. Passive income is income that comes without you directly having to work for it on an ongoing basis. Examples are information products that you receive
income on regularly having only put the time in once to write it, such as e books, assessment tools, manuals etc.

The steps to developing passive income are:

Decide on the type of product you wish to develop and the topic.

The best way to do this is to think about your skills and interests and experience. If you are good at writing, a book or e book may be a good option for example. If you use topics that you may have written articles about, you can extend that material.

What sort of product would best be aligned with your skills, interests and experience?

Pick a gripping title that conveys the benefits

Titles are so important to selling an information product. The title must convey the benefits and have dramatic words that inspire the purchaser. Examples are" Guaranteed Ways" or "7 Steps to ??, or" How to Get??"Look at other products on the market and get some ideas. Observe the sort of words they use.

Describe a title that is compelling?

Begin with an outline

Outline the key topics that you feel would be good to address. Consider your target market and what they need. These topics will form the basis for your chapters and will allow you to see if the material is balanced and comprehensive. Remember to include a biography of yourself and some bonus materials.

Outline your key areas here.

Write a few pages each day.

How do you eat an elephant? A bit every day. This is the best way to get the content prepared. If you try to do it all at once it will seem overwhelming. Set yourself a target and schedule time in for preparation. Keep an eye out for material that is
relevant or which you can put down as a resource. If you keep this up in a few weeks you can have a substantial amount of content.

Outline your schedule for production

Check for repetition or missing areas

Reread the material and see if there are any key areas missing or you have repeated the material.
Getting someone else to look at this material can be useful to get a fresh eye.

Is there any repetition or missing points?

Have your contact details on every page.

Use the footer and header function to place your details on every page. This way you can be contacted in future or if pages get displaced, people can still see who wrote this material.

Place a copyright at the bottom and convert to PDF to prevent copying

It is important that you protect your rights to this material. Including a statement that this material may not be copied and converting to a pdf will give some protection. Alternatively you may wish to consider a license arrangement where for an extra
fee, buyers are able to obtain the rights to copy the material.

Seek Testimonials

Offer the product to people for free in return for a testimonial. Seek feedback and use testimonials on your marketing page.

Develop a marketing page on your website

This is crucial to ensure you are selling your product well. Outline the problems people may have and the solution or benefits your product provides. Add client testimonials and include details about your background. Offer the product at a discounted price initially and test the market. It may be that you will need to increase your price if the price is not in line with the quality your are offering or the price level of similar products. Make several revisions until you find the right level.

You may wish to develop a graphic for the cover, which will give extra credibility.

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Article Tags: assessment tools, bonus materials, content outline, dramatic words, e book, e books, elephant, information product, information products, key areas, passive income, purchaser, schedule time, target market, time input, writing a book



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What are your success criteria? - Out of curiousity, what has to be present for you to know that your business is a success? The top three things for me are: 1. Maintaining a 6 figure income year in and year out. 2. Creating and promoting my own products. 3. Income not solely dependent upon my personal effort. How about yours?
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