First, I am a stickler about not using the word simple. So, if you see me use the word simple, you best believe it is. Ebooks are excellent resources for adding passive income or diving into the book publishing world. If you need more ideas for passive income, check out the post 8 Ways to Create Passive Income With No Money.
There are numerous options for creating and selling your ebook; here is a simple and cost-efficient route.
Chose your topic. This should be an area of expertise, something people know you for.
Know your target audience– This will help you write and market your ebook.
Outline your chapters– This is where you decide what you are going to talk about and how you will break it up. I would keep it short and straight to the point and provide real value in whatever you are talking about.
Design your ebook. You can do this in Word, Powerpoint, and numerous other platforms. I prefer to use Canva for my ebooks. Click here to get a free template.
Hire a proofreader/beta reader- Have someone read your ebook. As a writer, I know firsthand that we tend to read our words the way we thought we wrote them and can easily overlook grammatical mistakes.
Find a platform to sell your ebook on. You can sell it on your website, landing page, or a site like gumroad.com, Covertkit, and more. There are endless platforms. (Sign up to start selling on Gumroad HERE)
Get loud about it- you cannot help people if they don’t know your book exists. If you need help with marketing, grab the Marketing Hacks Ebook for 20 ways to market your book workout spending a dime.
Now that you know how to create your ebook, grab your free templates, and let’s go! Still need help with your ebook, click HERE to book a 1:1 call with me today!
See you at the top!
P.S. Ready to turn your story into a published novel? Join the Write community for exclusive content, tips, and masterclasses on becoming a published author.
There was a time when I thought becoming a millionaire was unattainable. I was barely making ends meet and living paycheck to paycheck. Once I started researching the habits of the wealthy, I realized my mindset was holding me back. All I needed was an action plan. That plan is to create multiple streams of passive income. Last time, we broke down what passive income is. Click here to read.
This week, we will discuss ways to generate passive income without money. Remember, passive income is when you no longer have to exchange time for money.
1 Create an Ebook: An ebook is one of the simplest and cheapest ways to generate passive income. All you have to do is choose a topic you are knowledgeable in or a skill you’ve mastered. It could be as little as three to five pages. You can sell your book on a free webpage or on sites like gumroad.com. Free Ebook Template
2 Create an Online Course: This is similar to an ebook. You can record videos or have live class sessions on zoom. You can put your recordings on platforms like Udemy or Teachable.
3 Create a Printable: Create a calendar, planner, and how-to list and sell it on Etsy.
4 Create a YouTube channel: Pick a niche, keep it simple and start recording. Again, choose something you know about and/or a skill you’ve mastered. After you receive a certain amount of followers, youtube will pay you!
5 Rent Out a Room – AirBNB an extra room in your home. You can specify gender and age to your comfort level or advertise to traveling nurses.
6 Open a Money Market or Interest-Earning Savings Account – Both options are free at your bank. You are missing an opportunity if you are not keeping your money in an interest-earning savings account. (Earn$30 when you Sign up for Varo Bank Account)
7 Affiliate Marketing: This is a great way to make money in your sleep. You can do this through a blog or any social media platform. Apply to become an affiliate of EL Consulting.
8 Start a Blog- Pick a topic or align your blog with your ebook or course. Once you build a following, you can make money blogging.
These are just a few ideas on how to start generating passive income, especially if you are just starting out or don’t have large amounts of money to invest. However, don’t be afraid to invest in more lucrative passive income streams. You don’t have to spend your own money to start either. I show you how to leverage business and personal credit to create multiple streams of passive income in the Level Up Your Business Course. Get started today!
Cheers to Creating the life you don’t need a vacation from!
Have you ever read a post or an article that asked for ideas for passive income; however, when you scrolled the comments, every idea was anything but passive? Or maybe, you’ve tried googling passive income ideas, but again, it was a lot more work than you anticipated. Well, there are many misconceptions about what true passive income is. Over the next few posts, I will break down what passive income is and provides tools for how to start adding passive income to your quota TODAY.
What quota am I referring to?
I’m so glad you asked.
I don’t know about you, but my goal is to be a millionaire and build generational wealth for my family. You’ve certainly found the right place if that is your goal too. (Click Here for a free profitable Business Checklist) The more I researched millionaire habits, the more I learned that the average millionaire has at least seven income streams. Seven sounds like a lot if you had to dedicate 40 hours a week to each one. However, the majority of the seven streams of income are passive.
So, What is passive income?
According to Forbes.com, passive income is “money you can earn without too much ongoing effort.” Actual passive income is when you no longer exchange time or exchange little time for money.
Here are four things to consider when building passive income streams
The upfront work and time investment are often anything but passive. However, once you do the work, you should enjoy the fruit of your labor with minimal maintenance.
One stream of passive income doesn’t have to make much money. People tend to overlook the small amounts of income-generating sources.
Multiple passive income streams areone of the best ways to generate wealth. After all, who doesn’t want to make money while they sleep?
You don’t always have to invest money to get started. There are plenty of ways to build passive income streams with little to no investment. I will give you examples in the next blog post. (Subscribe below to stay up to date)