Why you shouldn't work from the beach
I was scrolling through Google last week and was searching for my Passive Income competition - almost without fail, they all preach the Passive Income dream as Working From the Beach!
My friends, this is not the central image we need of flexible work. This is not what we should have in mind when it comes to location independence or getting more done. And this image certainly has nothing to do with balance.
Just because you can work from anywhere doesn't mean you should work from anywhere. My Passive Income goals include having the ability to work from anywhere in the world, including the beach - however, the beach is a terrible place to work from on a laptop.
Beaches were made for sand castles, seashells, and checking out the hotties in bikinis, not for you checking your reports from your laptop. Beaches are there for us to contemplate the immensity of our world and to get lost in the beauty of nature. No one wants to see you check stocks while you apply sunscreen.
Sand and laptops, not a good mix, sun-cream will mess up your screen, and lets not talk about over-heating - you'll half your laptop batteries life.
So please, get your work done and then come outside to play with us. We really don't want to crack your screen with our football.
If you're looking to create Passive Income, you've come to the right place
Become a Crafty Partner
Guess what? If that has been your goal, then I'm Indiana Jones, because I've found the Holy Grail of Incomes...I challenge you to join me, and together we'll increase our Passive Income streams.
Click the Join Me button, my contact page will open with the various contact options.
Pitch Your idea!
So, you've read the Passive Income Challenge, and now you have some ideas for creating your own passive income streams - Let's hear them!
Make Money Selling Merchandise
Why the heck did I include this?
Well, because I am OCDing all over the joint and want to make this list uber complete.
This passive income strategy may not be the finest, but it can be a quick and dirty way to quickly make some money.
Unless you have a super popular blog or a blog that speaks to the heart of reader’s identity, e.g a blog on Buddhism by a guru, e.g political satire blog, e.g an irreverent blog on old vintage cars etc, your readers are pretty much never going to say “Hey I want to walk around with your blog’s name plastered on my back”.
With all that said, there are other things you can put on merchandise apart from your name/logo; e.g quotes your niche would find inspiring or hilarious, graphic designs to do with your niche etc.
And hey, it ain’t too hard to whack up a design or two on Café Press, and just add that to your blog.
At least I’ll quit shooting this idea down then.
PS I’ve had a think about this idea more over lunch, and I think I may have failed to realise how many blogs fall into the “speaks to the heart” category.
I remember reading Corbett Barr of Think Traffic for example, saying how they made a couple hundred from selling posters of their Expert Enough manifesto. So I guess the circle is quite wide.
Heck even someone like Arseblog (a guy who writes about the English soccer team, Arsenal), makes a fair decent amount of passive income selling his humorously designed Arsenal t-shirts. Go for it!!
Make Money Interviewing People
Kind of like Mixergy, but for any niche!
You give away a ton of the content for free, and then charge for the premium stuff or for the latest stuff.
Either charge per download or offer unlimited access for a monthly recurring charge. You would probably be best off with a monthly charge for access to member’s only site. This wouldn’t be too hard to setup, especially if use Wishlist Member (membership software) + WordPress.
If you are interested in this idea I recommend you study the shit out of Mixergy and see how they do it – they have a cracking business model there.
Once again, I’m including this passive income idea…but only just.
It’s pretty active after all, if you plan to keep adding to it and expanding your customer base. But hey, 80% of the content is being created for you via your guests, so smile a little, this idea has some legs!
Make Money Creating An Online Education Site
This is going to make millions for those that get it right, but to be honest it’s not entirely passive.
The example that springs to mind with this idea, so I can really explain what I’m talking about here, is Corbett Barr’s Fizzle.
It’s an online member’s only site where there’s a library of content (video and resources), monthly webinars, daily Q&A, forums / mastermind group etc etc.
i.e it goes beyond a simple online course and replicates the learning experience of going to university where you have course books, lectures and tutorial classes.
It accordingly isn’t a cheap product, and instead demands a monthly ‘tuition’ fee if you like, of £30+.
The passivity in this product is probably about 70%. i.e you create the curriculum up front, and then add bits to it over time, often with the help of guest ‘lecturers’, but you still have to do a lot of work with your students / community.
It gets more passive for you personally if you take on some people to run the program day-to-day week-to-week, or you limit your interaction with the members / community.
But I’m going to be straight up here; if you plan to really kill it with this idea (ie £100k + a year), then like any authority site, this is going to require your full time attention.
Either way, the only way to setup this sort of online education site would be by creating a member’s only site. That’s a bit of work also.
Make Money Reviewing Products & Linking To Amazon
This is different to the ‘fake store’ idea, because here it’s not an online store we’re building, but rather a content-rich site with tons of product-focused articles and videos etc.
i.e one idea is for an online shop and the other for a blog/affiliate site of sorts.
So before we get into this, I want to say this is classic Chris Guthrie, the guy behind Up Fuel.
Chris is the guy who has earned £100k+ a year with Amazon affiliate fees…oh and I’m talking £100k profit, not turnover! Study these guys...
The important points per Guthrie are that you pick a physical product niche, then talk about specific products, so that people who arrive on your site are pre-qualified – i.e they’re doing research on a specific product and ready to buy if they get some confirmation that it’s a good idea.
All you want to do is get people to click your Amazon affiliate link.
Once they get to Amazon they may buy the product and/or other things (you get paid for them too – although your Amazon affiliate cookie expires within 24 hours of the person clicking), since Amazon is so good at converting people per their web page layouts, prices, suggested products and what not.
So scatter a ton of text based affiliate links throughout your article.
Your article can sum up all different products for a particular use, review them or whatever.
Just make sure it’s 100% unique writing and not copy-pasted product reviews/specs etc.
Some other points with this idea…
We don’t care about keeping people on our site, actually we want them to get going to Amazon, so make everything clickable, including affiliate coded product images, buy buttons etc.
The better quality your review, the higher chance the reader is ready to click – if you do hands on video reviews for example, you’re killing it!
Also, Guthrie says since it’s a product niche, you should try to build an email list by offering free buyers guides in exchange for sign up (you can email the list every time you do a new review for example).
One more cool tip, affiliate both high cost and low cost items, because by pumping up your volume (through low cost sales), you get the chance of earning higher payout ratios on the high end stuff later in the month!
Make sure you use different Amazon tracking IDs for different sites, so you can see which site is leading to the highest payouts.
Also show how products differ and publish best selling posts once a month.
Make Money Repackaging Existing Content
The average blog is like the average wardrobe…a complete fucking mess; with gold nuggets of wisdom spread throughout 100's of articles.
How much more useful would it be – to your reader – if you created a unified guide?
i.e collected all the best bits of your blog, ordered them and edited them down into a succinct punchy broth?!
If you can do this with blog posts, eBooks, podcasts, interviews or whatever, you can end up with an entirely new product to sell.
Since this idea could end up as an eBook, online course, video, or whatever, I thought it worth putting as a separate passive income stream idea.
PS need convincing? Then think about how many people buy eBooks that are simply ordered and succinct versions of existing blog posts!
PPS readers often write in and tell me 2 things are hard. 1) making sales pages for their eBooks without having to spend hours and ££ on a designer. and 2) making 3-D renderings of their eBooks for the sales page.
Solve these two common problems, and you've got an income stream in the making right there.
Our goal is to find multiple income streams, and the more passive the better.