Theresa May announced in her Brexit speech that the UK will leave the EU single market. I am sure that in the coming weeks and months there will be numerous discussions on how this will impact the UK. The question I want you to consider is… How will this impact you?
I doubt anyone will argue that there is going to be without a doubt an impact on the population of the UK, the EU and many others in some form or another. Where the argument will come in is on whether the impact will be negative or positive. Let’s be realistic here for a minute… no-one can state with any certainty on what that impact will be and whether it will be negative or positive.
I put it to you that it would be foolish to sit around and wait to find out what the impact will be and then take action. I would like to recommend you consider what action you can take today to mitigate or even remove the risk to you.
One way I highly recommend is that you start generating passive income online now and by the time this drama unfolds, you will be in a position of financial independence and the impact on you will be minimized if not averted completely.
How Can You Generate Passive Income Online?
Lately, I have been meeting many business owners who have questions about multiple and passive income streams. These are business owners just like you – coaches, web designers, consultants and other solo professionals. They charge a very nice hourly rate, but when they are not working with clients, they don’t get paid.
How can you change this and how can you create this for yourself? How can you make money continuously, whether or not you are working with clients. Would it improve your lifestyle and increase your profits if you could have consistent streams of income coming in from sales of your e-books and CDs, workshop bookings and commissions? These are called multiple income streams because they are in addition to you regular income stream, and they are called passive because you create many of the products once. Once you create them, you can replicate them and sell them in perpetuity.
Let’s look at different income streams that a business owner like you can generate:
– Digital products. As a professional who works with customers, you already know what your customers are interested in as well as the information they are looking for.
Turn this information into a sellable product by publishing and selling it. Depending on the topic and the information, you can create digital products of various lengths.
– Audio Products can be delivered in two different formats. They can be instantly downloaded from your web site any number of popular audio formats, or you could burn them onto a CD and physically ship the product.
Either way is a great way to go since many people like to listen to information instead of reading it.
– Teleclasses. Teaching classes over the phone is a good way to demonstrate your expertise to many people at once and to offer your coaching or consulting sessions at a lower price point.
Material taught and discussed during tele-classes can be re-used to create tips booklets, special reports and audio products.
– Workshops. Same as tele-classes, workshops can be used to teach to many people at once, instead of doing one on one sessions.
– Affiliate Programs. There are two different ways to use affiliate programs as another income stream:
1. Creating an Affiliate Program for your products, thus, sharing product products with people who refer new customers to you, and helping them create an additional income stream.
2. Recommending Other People’s Products, though their affiliate program, thus creating another income stream for yourself and your business.
As you can see, there are many ways for you to turn your expertise into products, and generate additional income with it. If you are just starting out, pick one or two different product types, and work on them. Than, add a few more, and you will have different income streams created in no time.
Generating passive income online is possible for anyone by joining the digital economy.
If you want to start building your passive income online today then follow this link where you will find out how you too can benefit from the digital economy.