How to Make Passive Income
MUST HAVE RESOURCES
SUMMARY
TRANSCRIPTION: HOW TO MAKE A PASSIVE INCOME
Kamala Chambers
In this episode, Luis and I are going to be talking about how to make passive income.
So excited to have you guys all here talking about how to make passive income.
This is something that’s really important to Luis and I because passive income allows us the freedom that we have. To travel the world, to take days off, weeks off, months off at a time, and still get new money in our bank account.
We want to talk to you guys about how to make passive income because it is so freaking awesome to be able to live like this.
One thing about creating passive income is that it took me a long time to figure out how to create passive income. It took probably 2 years of learning, studying, trying to take all the best courses I could and learn from all the online gurus that I could on how to do it and it wasn’t until around 2015 that really cracked the code, and it wasn’t at all what I thought it was going to be.
One thing about how to make passive is that you need to know what you have to offer. You need to have something that you can offer that doesn’t require you trading your time for dollars.
Now, I’d like to hear from you Luis about your experience now that we’ve been creating passive income. Can you chime in?
How To Make Passive Income – Know What You Have To Offer
Luis Congdon
The first question I really actually have is, is there such a thing as passive income? Then the other thing I think about too is you said, you need to have a skill or something to offer. I think a lot of people here at Thriving Launch has something to offer.However, the big question then is how do you turn something into a passive revenue stream? If you’re a coach, you’re a health coach, you’re a fitness coach, is it possible to turn services like that into something that creates passive income? Again, back to my first question, is there such a thing as passive income? How to make passive income?
Kamala Chambers
Well, everything requires work. Everything’s going to require set-up and time. One of the best ways to make passive income is by having automated systems in place.
If you find a way to automate your sales, automate your sales funnel process for your clients. It makes it really easy for people to not rely on you, to ask you questions about what your products are, what your services are, what you offerings are. What this does is if you can have the foresight for what people are going to ask you, what their questions are, what their objections are, then, you can put all of that into place so they have all that information at their fingertips so they’re not relying on you to make the purchase.
Another important thing with passive income is that you also need to have something that people are going to want, something that people are going to be hungry for.
I know we talked about messaging a lot and getting your message out there in a very clear way is going to be important.
When you know what your message is, what you have to offer, and what that one problem that you solve for people is, then, it makes it really easy to create something like an online course, which is my favorite way to make passive income.
How To Make Passive Income – Create Some Awesome Courses
Kamala Chambers
Say that you want to create an online course. I talk about this is if you’re a coach and you’re always telling people the same problems over and over and you’re trying to always answer the same questions, then you can record that information. Turn it into an online course and voila! You have something that you can sell that doesn’t require you trading your time for dollars anymore.
Luis Congdon
Those are really great tips and I know that pretty much any type of coach can automate a lot of their coaching or create a program out of their coaching.
We have clients who work in the weight loss field. We have clients who work in the emotion coaching, health, fitness. It really varies across the board, the types of people that can create a system, a course, or a program that they can sell without being present.
One of the guys who we recently interviewed was Timothy Sykes and he has a course on how to do investment, how to become a penny stock broker, and how to invest in stocks that are pennies.
So, if you have a skill to share, you can also turn that into a course.
If you wanted to turn your knowledge into a course and make passive income from your knowledge, what are the first things people should know, Kamala?
Kamala Chambers
Well, I think it’s really important that people know that it’s even possible. This experience of being able to make passive income has really changed the game for both of us. It did change the game for our clients, the people we watch, and be able to see take their business from trading all their time for dollars to being able to wake up in the morning and they’ve got new money that came while they were sleeping. It’s automated.
Tips On How To Make Passive Income
Kamala Chambers
One tip on how to make passive income that I really want to give you guys is to find software, a system that can automate sales for you. One system that we absolutely love and we’re an affiliate for it, you can get our affiliate link stuff at Thriving Launch which is awesome because that’s another way to make passive income.
I want to tell you guys about it not because we’re an affiliate but because it is really the best system that we found for creating automation. That’s ClickFunnels.
With ClickFunnels, we create sales funnel websites and people go to the Home page of a website. It tells them exactly where to click next and through that clicking process, they find the exact step. They’re led down a funnel to make that purchase. I think that’s been one of the best software that I’ve been able to find for automating sales online.
I know this may be a little dry for you guys and we’re kind of going into the nitty gritty but I just want to really invite you to step into the possibility of making passive income. What would that be like for you? How would that change your life? How would things transform for you if you’re bringing in money without wondering where it’s going to come from.
There are a lot of things that are in place. We’re going to make sure to include some resources. If you go to thrivinglaunchschool.com, there’s a free video training for you that’s going to walk you through more in depth on how you can create passive income because we want you to be set up to win. I don’t want to encourage you to just buy ClickFunnels and think that you’re automatically going to create passive income. You need support. You need the system. So that’s why we’re creating these resources for you.
How To Make Passive Income – Follow Your Passion
Kamala Chambers
Luis, you want to share anything else about how to make passive income? When I met Luis, he was working full-time. He was working more than full-time. It was like 80 hours a week managing three homeless shelters for women. He was the director and you were burnt out. You were working so hard and I wanted to go to Asia. I said, “Hey, you should quit your job and come work with me.” Now, that’s not the case. Can you just share a little bit more about what’s that been like?
Luis Congdon
Often I get asked how to make passive income. When I think about how much life has changed for me, it’s pretty incredible. I know longer have to work on a daily basis. I have a schedule that I make up myself. You know that does take some discipline. It’s a lot better than the schedule that I used to have where I was on someone else’s schedule, someone else’s timeline, someone else’s paychecks, and someone else was responsible for me being paid.
So, that’s been a big difference, being able to travel the world, meet all sorts of amazing people. As I’m talking, I’m thinking about one of the first things from my end that you should know about making passive income is that if you can find a way to build an audience, to build a tribe, a following around you, passive income will be a lot easier to make and it’ll come a lot easier for you.
One of the ways I highly recommend that you do is if you are someone that teaches people something, make sure to build a community around that certain thing.
If you’re a health coach, build a Facebook group. One of my first tips to clients is build Facebook groups, build the email list, build the tribe, build the following, give people content, and one of the ways I suggest that is through Facebook groups.
Knowing how to make passive income is important. I just think it’s a really powerful way to make passive income is to have an audience to build some sort of celebrity status because as you become well known, people will buy from you simply because they know, like, and trust you.
Kamala Chambers
I think that’s going to be a really valuable thing to know how to make passive income. If you guys haven’t listened to the episode that we did last Monday on Making Money From Facebook, make sure to check that out. Because once you have your system setup for making passive income, you need a way to build your tribe, to have your audience around you so people are going to buy it.
Making Money from Facebook episode is really there to support you with that. Thank you all for joining us today through this Monday episode. This is a little snippet on tiny training on how to make passive income.
Thank you all for being here. Keep thriving everyone. Hope you loved the training about how to make passive income.
MUST HAVE RESOURCES
