The Truth About Generating Passive Income Right Now!
Times are tough. I know it, and you know it. And that's why it's more important than ever to know the TRUTH about what really works when it comes to creating reliable income from your books or side hustles today. In fact, this formula works for every online product that you are trying to sell.
Here's the secret
"...You gotta give away your best stuff for free if you want to take your business to the next level..."
Yep.
That's what I do, and that's what I tell you to do.
Confused?
Think about how Netflix, or Apple Music, or even your local Yoga studio (pre-COVID-19) gets new customers.
They don't focus on selling at all.
Instead, they intentionally give away a small taste of what they sell for free to anyone interested.
And they don't give away a "watered down" or light version of what they sell.
Nope.
They give them the 100% pure stuff.
And why do you think they do that?
Because once someone has had a taste, they want more and are happy to pay for it.
And this is something many fail to understand. In fact, people actually do the opposite.
They keep all the good stuff behind a paywall (inside their high-priced books, their course, their shop, their membership), and they think some fancy Facebook Ad or magical sales copy will be enough to drive traffic and sales.
Doesn't work.
Instead, what you and I ought to do is give our audience a taste of the good stuff.
And how do we do that?
By creating and sharing excellent and unique free content.
That is the truth about creating passive income from your books, from your other online products like courses, memberships, or through your website.
This is secret to generate consistent passive income.
Here, on Foolish Author, I focus on the FOUR necessary components to make money on auto-pilot.
Remarkable free content
An irresistible lead magnet
A strategic email autoresponder
A desirable digital product like your book
Sadly, people are only interested in the product, the email sequence, and the lead magnet.
Clearly, they forget the first thing that attracts people to your books or digital products.
In all sincerity, here's the cool thing: while you need a great digital product to sell to have passive income and you need a strategic email funnel in place to sell that product. You need a killer lead magnet to grow your email list to sell to them.
Once these three things are in place, you are in a great position to make money......as long as you commit to giving out a free taste of your good stuff through regular content (amazing stories, blog posts, YouTube videos, FB Lives, etc.)
I'm living proof of this theory, as using these four principles, I consistently earn passive income even when I'm not working!
That's the power of creating and giving your best content for free. That is also the power of feeding your brand with valuable content that can live on forever and continually drive people into your ecosystem.