Making online passive income as a creative entrepreneur can feel like learning a second language, especially when you’re juggling all the mess that comes with running your own business. Ironically, however, the more time you invest in generating online passive income ideas, the more time you can free up to focus on key elements of your business!
WHAT IS ONLINE PASSIVE INCOME?
This buzz-word gets thrown around often! We would define online passive income as income generated from tasks that have been completed digitally and require little-to-no maintenance after being completed the first time.
Imagine doing your creative work once and getting paid for that work even though you’ll never have to touch it again! With passive income, you can go to bed and wake up with dozens of transactions!
EXAMPLES OF ONLINE PASSIVE INCOME IDEAS:
- instagram highlight story icons
- logo templates
- PDF templates
- lightroom presets
- video LUTs for premiere pro and final cut pro
- video tutorials/masterclasses
- “tools of trade” checklists
- instructional PDFs
- website design templates
EXAMPLES THAT ARE NOT PASSIVE INCOME:
- custom IG highlight story icon designs
- custom logo designs
- custom PDF designs
- custom website designs
When getting into passive income online, it can be tempting to service “custom” orders. In the beginning, this is okay when you only have a handful of customers. but eventually, you only have so much time in the day to service these customers! That’s where passive income gives you leverage – you can serve 10,000 people in one day!
the reason why these tasks are NOT passive is because to design a custom website, you would have to communicate with each client one-by-one. for each client, you would have to onboard them…get to know them….design their product…deliver it….etc.
For passive income, you design the asset once. Then, after getting feedback from a beta group, you can launch the product and sell 10, 100, or even 100,000 downloads overnight!
Just imagine being on a road trip, getting food and drinks after a long day of driving, and checking your email to see a $40 transaction from your instructional PDF workbook, a few $10 transactions from your highlight story icons, and a $100 from your masterclass…that pays for your food, gas, and more for the day!
HAVE YOU EVER ASKED YOURSELF THIS?
If you don’t yet see the benefits of using online passive income ideas for yourself, let’s change the tables for a second. Sure, you can make a sustainable income as an entrepreneur without passive income. But is it selfish to only focus on sustaining yourself?
the world has too much suffering and hardship these days, millions of people live day-to-day without food and water. Instead of being selfish and only living for ourselves, we’re investing time and energy in 2020 so we can scale our passive income and make a bigger impact than just living for ourselves.