FOUR STEPS TO CREATING YOUR FIRST (OR NEXT) PASSIVE INCOME STREAM
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- Alicia Crawford
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1 FOUR STEPS TO CREATING YOUR FIRST (OR NEXT) PASSIVE INCOME STREAM It s time to scale your freelance business THE FREELANCE TO FREEDOM PROJECT
2 So, you ve been thinking about creating something to help you make more money with less one-on-one time? Well first off, congrats! Service-based freelancing is the easiest way to start and grow your business, but at some point, you realize there are only so many hours in the day, and only so high your prices can go. It s time to create some passive income! This is part resource/part workbook to help you create a plan and put it into action so you can feel the magic of receiving a PayPal notification while you sleep :) This guide may seem short and simple, and there s a reason for that. You can sit around all day thinking about how to scale your freelance business, or you can take a few concrete steps to actually make it happen. No need to overcomplicate things, it s time to put in the work! Ready?
3 CONSISTENT MARKETING STEP 1: FIND OUT WHAT YOUR AUDIENCE NEEDS The key to a successful passive income product is solving a real problem for your client. Sure, you may think you know what they struggle with but you ll never know for certain unless you ask. You can t make assumptions here. You can t base your ideas on what other people in your industry are doing because everyone s audience is different. So how do you find out what your clients need? Create a survey Make a quick and easy form, listing multiple-choice questions, and send it to your list, publish it on your blog or post it on social media. Give something away to entice people to help you out. For example, this could be a service, your favorite book, a mini-ebook you created, printables or a gift card. Run a contest Run a contest where people have to answer questions in your blog comments, on Instagram or through Rafflecopter. Similar to giving something away for a survey, this will entice people to share with you and also spread the word. Tell your audience you re creating something super helpful for them and you need their help to refine it. Ask them to answer a specific question in the comments or by replying to an . Talk to them! Get on the phone with your ideal clients. You could offer free 15-minute calls to your current audience and tell them you ll help with one specific thing in return for answering a few questions from you. Advertise your free calls on social media, your blog and in your newsletter.
4 CONSISTENT MARKETING STEP 1: FIND OUT WHAT YOUR AUDIENCE NEEDS Or you can simply reach out to people you know (who fit your ideal client type) or people in your audience and ask them if they wouldn t mind hopping on Skype for 15 minutes. Pay attention online When you re hanging on Twitter or in Facebook groups, take notes on the kinds of questions people are asking and where they are looking for help. The more data you have to work with, the better. Compile everything into one spreadsheet and start your topic brainstorm from there! Now answer these questions: What keeps your audience up at night? What are your audiences biggest pain points? What s missing for them; what do they need to solve their problems? Of their biggest pain points, which one do you have the most experience or knowledge about? Which solution of yours excites you the most when you think about creating a product around it?
5 STEP 2: SET UP AN OPT-IN PAGE TO GATHER INTEREST CONSISTENT MARKETING OK, now you have an idea (or at least a rough one), it s time to start gathering interest. Yes, before your product idea is even finalized or the content started! This way you can tell if people are interested enough in the idea to sign up to find out more. The other big benefit of an opt-in page: accountability. When you start gathering interest, you ll be more likely to start talking about your product idea, to drive people to the opt-in page. The more you talk about it, the more interest you might gather and the more you will feel accountable to make it happen. See the loop that starts when you re onto something good? If no one opts in, and you don t get any good feedback from talking about it on your blog or social media, you can then adjust your idea without having lost all that time creating a product no one wants! Tech tips for your opt-in page Create a separate page on your site or use a program like LeadPages so you can promote the specific opt in URL on social media and in your newsletter. Eliminate distractions on the page (no header, sidebar, etc.) so the only thing people can do is opt in (or not). Entice people to sign up by giving away a short cheat sheet or freebie PDF that relates significantly to your potential product. Create a separate list in your provider (Mailchimp, etc.) so it s clear how many people are interested and you re able to send them specific s before, during and after your launch.
6 STEP 2: SET UP AN OPT-IN PAGE TO GATHER INTEREST CONSISTENT MARKETING How to promote your opt-in page Write several blog posts on related topics and at the end of each post mention what you re working on and link to the opt-in page. Send an to your list telling them what you re working on and link to your opt-in page. Post on your various social media channels. Now answer these 3 key questions to help you optimize interest: What are the 3 main problems this product will help solve? (You ll want to mention these on your opt-in page!) Which questions do people ask on this topic? (Use these as blog post ideas to lead to your opt in.) What other problems are related to this topic? (Use these as blog post ideas to lead in to your opt in.)
7 CONSISTENT STEP 3: DECIDE ON A FORMAT MARKETING There are several options for product delivery, each with varying degrees of technical difficulty. You ll want to consider how your clients like to learn, what you like and are capable of creating, the price you would like to sell at and how much time or investment you want to put into the whole process. Format options course (easy) comprises lessons delivered via autoresponder. You need: marketing software. Examples: Mailchimp or AWeber. Ebook (medium) comprises a PDF for reading online (or to be printed), delivered automatically after purchase. You need: design/layout services as well as ebook delivery and payment processors. Delivery and payment processor examples: Gumroad, Zapier, PayPal. Online members course (hard) comprises multi-media (slides, videos, text and/or worksheets) accessible on a password-protected website. You need: Protected course website design and development, tools to create and record audio or video, etc. Software and platform delivery examples: Wishlist Member plugin or Zippy Courses software (to password protect your course website pages), Screenflow and PowerPoint (to create and record slides) etc.
8 CONSISTENT STEP 3: DECIDE ON A FORMAT MARKETING Now answer these 4 key questions to help you decide: What kind of content does your audience prefer? (Don t know? Ask them!) How quickly do you want to launch this product? (The quicker you want to launch, the less time-intensive the delivery method should be.) How much do you want to charge for this product? (This should just be a gut reaction answer. You haven t created the content or done any research on pricing yet, but you need to decide whether it will be your premium offering, a starter offering or something in between. That will influence how much time you put into its delivery.) How much do you want to invest in design/tech/software to deliver this product? (The more components needed such as design, development, software, the higher the expense. It s important to consider your budget.)
9 CONSISTENT STEP 4: OUTLINE YOUR CONTENT MARKETING Get organized before you start fully fleshing out your content. Trust me. The easiest way to prevent overwhelm is to start with the big picture then work down to the nitty-gritty detail. Begin with modules the big overarching steps to get your buyer from where they are now, to where they want to be. Then move on to the lessons within those modules; then you can finally flesh out the content of those lessons. This ensures you are keeping the content concise and on topic so your students/ readers/members are able to actually take action and get the desired results. Now answer these 2 key questions to help you get clear: What are the 4-8 overarching topics you will cover (modules/chapters)? List them. What are the 3-6 lessons within those modules? List them. Now, brain dump the main points you want to cover in each of these lessons.
10 CONSISTENT Good work! The hard part is done! MARKETING You now have an idea, you know whether or not people are actually interested in your idea, you know how you will deliver it, and you know what it ll cover! It may not seem like it, but the hardest part is complete. Most people stay stuck in an indecision zone here and never move past the idea stage. Once you get through these steps, it s only a matter of taking action and pulling everything together. Honestly, you can even hire someone to do the rest for you! Next steps Flesh out your content and put it together in the format you ve decided on. Write a sales page Choose a launch date Start creating buzz by talking about it regularly on social media, your blog and in your newsletter. Launch and watch the sales roll in while you pop a bottle of champagne. Or let them accumulate while you sleep. :)
11 CONSISTENT Take Action! MARKETING You are never going to make your passive income dreams a reality if you don t take action. I know how scary it can be to put something new out into the world. I ve been there. I delayed creating my first course for months even after clear signs people needed it. I was worried no one would buy it even though I d put in so much work; I was worried the people who did buy it would be so disappointed they d never buy anything from me again! As concerned as I was, I even blogged about the behind-the-scenes action as I created the course: you can read the series here. More than 200 students later, after pushing past my fears and taking the time (even at 3am) to just do the work, releasing my first course is the best decision I ve ever made. Need some accountability? Tweet me! I m working on creating some passive income, hold me accountable?
12 Enjoy this guide? Please share it with anyone you know who is ready to start and grow their freelance business by clicking the icons below! Hi, I m Leah. Founder of The Freelance To Freedom Project. I want to help you find more freedom in life by showing you how to scale your freelancing beyond what you think is possible. I ve done it, and I know you can too. Copyright 2015 Leah Kalamakis, LLC
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