How to Add Passive Income to Your Blog or Business

How to add passive income to your blog or business

As some of you may already know, the majority of my business income is passive, at least a good 75-80%. So I know a thing or two about passive income strategies! If you aren’t sure what passive income means, let me explain. Passive income means that a business is making money and sales without direct action, i.e., making money in your sleep! For example, a large part of my business comes from my shop which sells digital products, courses and programs. Once I have gone through the effort to create a product, because it is digital, I can list it on my shop and sell it indefinitely without having to do any work. The system is automatic, customers come to my shop, they look around, they check out and they have instant access to my downloads without me ever having to get involved with the process. Once the system is in place, I let it run with very little observation.

Having a business with a majority passive income is an amazing blessing, but one that took me a lot of time and effort to create. Nothing comes overnight with any business, and behind the scenes, I do ongoing work to promote my brand and put those key systems into place so that they can continue to generate income for me. Now, if this sounds like an awesome way to make money, I’ll tell you, it is! There is nothing more exciting then waking up in the morning to see that you’ve made sales and income while you were sleeping. Although my business took a good amount of time to get to this level, there are actually a few things you can do to get the ball rolling and add passive income to your overall business. If you are someone who runs a shop where you craft or resell products, you have an active, hands on business. Perhaps you are lucky enough to have some assistants so you are not the only person fulfilling orders and getting product created, but whether you have a team or you are a solopreneur, there are ways you can add passive income into your mostly active business to bring in some much needed additional revenue.

Two easy strategies for how any business can implement passive income!

Create an info or digital product: Many people that sell physical products miss some great passive income opportunities by not branching out and creating digital or info products that go along with their business. If you already have people coming to your site or shop, you are missing opportunities for easy sales of passive digital products. It’s all a matter of drawing on your strengths and knowledge base to craft a product or resource that makes sense for your brand. Here are some examples to get your brain thinking!

• An Etsy shop owner who sells craft supplies can write an ebook with a few project ideas using their items.
• A social media consultant could design a set of printable worksheets covering key action items and social media strategies that anyone starting out in social media could use.
• A blogger could create a set of downloadable design templates for new bloggers to use to easily craft posts and lay out images.

Incorporate affiliate networks: Affiliate networks give online creators the ability to monetize links to specific products or services that the creator may be promoting. For example, when a beauty blogger writes a post outlining a makeup routine, if they are part of an affiliate network, they can include links to the specific products that they used in their tutorial. If someone reading that post wants to purchase the items, they can use the links and in doing so, the blogger makes a small commission (usually a few percent) of the purchase. Affiliate networks are great because they can give you access to a wide variety of products sold online and it’s easy enough to add a link into a blog post, video description or social media comment and once that link is in place, if anyone buys a product using the link, you earn income from it. Affiliate networks are a popular way for bloggers to earn income from their efforts, but even an online business owner can use affiliate networks to help boost revenue. If you watched my business photography webinar, you know that styled photographs are an important tool for helping to generate sales online. As a business owner, if you are executing those styled photographs and using peripheral items and accessories to set the scene, you can use affiliate links in your shop listings or on your social media posts to monetize the items you are using in your images as well! You’re doing the work to create those awesome images so you mine as well monetize every inch of them!

Additionally, as online business owners, we use a lot of tools and software to help us build and run our businesses. Again, sharing affiliate links to the camera you use or your office printer can also generate income for your business and help fellow small business owners or those getting started to understand the professional grade equipment used by your successful business. People always want to know where you got x accessory or which computer you use or even the name of your website host. You mine as well make a commission from recommending these products to your customers or audience!

Looking for more tips on how to add additional income to your business or blog?

If you are looking for more ideas on how to maximize your income from either a blog, business or social media presence, check out the Income Blueprint in my Empire Building Online Business Program. It’s packed with ideas on how to grow your business income and exactly what you need to know about online businesses if you want to get started!

I hope this post gave you some ideas for how you can easily implement passive income into your existing blog or business. If you thought that passive income wasn’t an option for your business, I challenge you to use the examples provided in this post and think of a way you can either use affiliate links or create a simple digital product to add to your product or services line up! It may take a bit of creativity but I do believe that any business can add in passive income and I know any business would be glad to have the extra income!

xoxo,