Passive income is a bit of a buzzword in the world of internet marketing, usually accompanied by pictures of people on their laptop on a caribbean beach or otherwise travelling the world working an hour a week while the money rolls in.

Nice huh?

I’ve blogged before about my feelings around the phrase passive income (in my experience the word passive is hugely deceptive as it takes a LOT of time and effort to correctly set up and market any product) but I do agree that having products that can be purchased without you having to deliver any of the content in person is a great way to build your business.

Now hold on a second, you might be thinking how much you love your business and that you don’t want to have a business that doesn’t rely on you.

I hear you.

I don’t ever want my whole business to rely on passive income, I love my coaching calls, retreat weekends, Vip days and TALKING to my customers. But I also see the value in being able ot bring in a good base income without any of this.

I’m very aware that as a single mum with 4 kids and a million animals, I need to be able to occasionally take some time off. Holidays, sick days - and what if the worst happened and I was unable to work for a month, or maybe longer? Then what? Who would support my family? Yes savings are great but they won’t last for ever.

So for me, having a passive income stream in my business is a smart move. It allows me to bring in money even if I am not present and active in my business for a short period of time.

This is why I decided to create my own passive income products.

Here are the top 5 reasons why YOU need to do the same.

1 - You can earn money while you take time off to be with your family, travel or do whatever you want. You can earn money while you are in the middle of working on something else. It can be a great way of bringing in some income and paying your bills while you concentrate on a different area of your life. Imagine if you had to go and care for a relative for a month, or became ill, or just decided that dammit you WOULD go to the other side of the world for your cousin’s wedding. You can do this and know that you will still be selling products while you are gone. Perfect, right?

2 - You learn new skills in designing and delivering this product which will be hugely helpful in other areas of your business. Imagine how you’ll feel when you’ve done this, when you’ve built it yourself. So many people are afraid of the tech needed to be successful online - but there is no need to be. If you have someone to guide you through it you will see that it is JUST a process. Just a step by step. You can do this. I promise.

3 - It’s a great way to build relationships with people who might later come and buy your higher priced products and services. Think about it? If you were going to invest at a higher level with someone who would it be, someone who you had bought a passive income product from in the past (which you’d been really impressed by) or from a total stranger? Exactly. Don’t be a stranger. Nobody likes strangers, that is drummed into us from a very early age. Be the person who enables your clients to buy from them at any level.

4 - Once you have put in the time and effort to make the product you don’t have to do any more work on it, apart from the marketing. True leveraged time, work for 10 hours and earn an unlimited amount. Who doesn’t want that? OK so the marketing will take up some time but that’s OK, you can automate a lot of it and even if you have to pop your head into your business for a couple of hours a week you can manage that, right?

5 - Passive income products can be a great addition to any sales funnel. When someone signs up for your list you can direct them to your passive income product from your thank you page or elsewhere in your funnel. It’s a brilliant way to give great value to your customers and yourself.

Are you convinced that it’s a good idea yet?

Great. Then what are you waiting for?

If you’re interested in setting up your own passive income product then you need to know that I host a 10 day free challenge to do just that. You don’t have to worry about how to do it or what to do, just enrol here for FREE (or click the button below) and join me and every day for 10 days you’ll receive an email with a video and worksheets and tasks so that YOU can create your first product.