Passive income is the new black. No, seriously it is! Passive income can earn a lot of money for your business. Examples of passive income include earnings from book royalty’s, digital courses and electronic products that don’t require a full launch sequence. If you’re a service provider such as coach or consultant, you too can profit from passive income products by packaging your expertise. I truly believe that everyone with a creative business has something to teach. Not to mention, it increases your earning potential! Here are 5 tools you can use to create passive income for your business!
Pulley is a tool that will automatically deliver electronic products to your customers. Trust me, manually emailing orders is a pain! One thing I love about Pulley is that you can connect it to your website as well as Paypal to auto deliver your products.
If you don’t want to sell products on your own site, or aren’t a fan of Pulley, consider Gumroad. You can easily setup a store and sell your digital products in minutes! It will also autodeliver your products on your behalf.
I LOVE Printful. Printful is a tool that allows you to create your own t-shirts, mugs, bags, etc. If you want to sell branded merchandise, but do not want to store inventory, Printful is a great site to start with. Not only that, it will automatically process your customers orders for you if you connect it to your site. Printful does not operate on its own though. You have to have an e-commerce site such as Wordpress, Big Cartel or Shopify to name a few in order for it to be a functional store.
This is an oldie but goodie. For those that are unfamiliar, Mailchimp is an email management tool. Though I've had it for while, this year I finally began to dig into Mailchimp's features and capabilities. If you're looking to start building an email list, Mailchimp does offer a free membership plan. I also love the automation features as well as the option to create segments within your list. This is where passive income comes into play. When individuals sign up for your mailing list, a sales funnel should begin!
Calling all authors! Createspace is a self publishing platform owned by Amazon. With this tool, you can publish your own physical books or Kindle books. You also have the option of selling your books through Createspace as well as Amazon. This is the tool I used to publish Bombshell of All Trades.
There you have it! You now have my top 5 tools for creating passive income for your business. But you may be wondering, now what? How do I actually use these platforms to create passive income for my business? Well,I have a class called Digital Products 101 where I show you how to brainstorm ideas for your products, how to actually create your products and provide walk through tutorials on how to use a few of the tools mentioned on this list!
The class covers:
-How to Create Fillable Workbooks
-How to Package and Sell Your Webinar/Live Stream Replays
-How to Create Branded Merchandise & Avoid Having Inventory
-Additional Tools for Creating Passive Income
You can watch that class instantly by clicking here! Let me know in the comments which tool is your favorite.