The idea of money simply coming in while you're asleep sounds so much better than working hard every day to build out a business that has products that sell no matter what you're doing.
There's nothing passive about passive income.
It's getting harder and harder to compete within the noisy internet. And yet, this path is still easier than having a brick and mortar store or waiting until a company replies to your proposal for wholesale or licensing.
But we were all sold a lie. If you create a digital product, you can sell millions of them while you sleep. While this is technically true since there's no limit to the number you can sell; it's not an accurate depiction of the marketplace. Everyone is inundated with ads, people vying for our attention, desperate to get our email address- so they can sell us their product. And because of that, our attention spans are getting shorter and shorter. I notice this myself- if an email or video doesn't capture my attention within 10 seconds or so, it gets deleted.
Yet, everything boils down to numbers. More people seeing your products means more conversion to sales. But it's also getting harder & harder to make conversions. What used to take 3-7 times of someone seeing your store or products before making a purchase now takes closer to 7-12 interactions. People have too many options & they can easily shop around for a better deal or different product. You need to give them a reason to stay on your site & buy from you, now.
The other thing people don't often explain is that your best product has a shelf life. As soon as other people notice you making money from something, they'll copy it & flood the market with knock-offs, to get their piece of your pie. So you have to keep innovating.
“People who copy you will always be one step behind.” -Wayne Gerard Trotman
So what is a business owner to do if they don't want to keep producing new content all the time just to get eyes on their business?
You build a following.
By building a brand.
And you give people a reason to follow along on your journey, see behind the scenes, and root for you.
Your branding encompasses not just your logo, fonts, & colors, but also, most importantly, your voice. People love supporting a brand that feels authentic & wholesome, with a strong purpose & mission.
I had to be willing to pause the meat grinder of products & posts to develop a strategy and plan out collections of work before I saw exponential growth. Even now, I'm in that stage again of pause & reflect, learning & growing. I've found that what comes after is so much better than if I skipped it. Besides, I come back renewed in greater spirits with more inspired work.
“It’s not only moving that creates new starting points. Sometimes all it takes is a subtle shift in perspective, an opening of the mind, an intentional pause and reset, or a new route to start to see new options and new possibilities.” -unknown
But frequently people give up before they really start to build momentum. They lose faith in the possibilities, drowned by the busyness of running a business. They see someone else doing what they hoped to do & think there's no point. But the world needs who you were meant to be. Your version is worth creating.
While Passive income isn't passive, it does follow a J curve where you expend more time & effort in the beginning, but it has lower upfront costs & the revenue has the potential to grow exponentially faster than other business models. And once you have systems in place, the time & effort needed are much less once you pass a certain point.
If you want help creating a better business plan, join our FREE 6 Day Challenge that will walk you through the steps to developing a plan that suits YOU.
You should be building your business to support your vision of your dream life. Then invite people to follow along with your journey, be authentic, & your people will find you & stick around.
Warmest regards,
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