Updated: Jul 18, 2020
It doesn't matter what type of business you have you already have everything you need to create passive income programs. If you have any type of online business it is likely that you engage in content marketing. You likely already create content for your blog and maybe you even have a short report as a freebie for email newsletter sign ups. Maybe you even have a regularly sent out email newsletter.
You probably even send educational information to your audience in the form of curated content that answers questions or by outright answering your audience's questions about your niche. You probably also have social media content for Facebook.com and perhaps even Youtube.com. All of this content that you create can be repurposed into passive income streams.
Regardless of what type of content you have now, you can add to it, reimagining it in another format to add to your passive income stream. Here are a few ideas to get you started.
Blog Every Day -- Many service providers, coaches, and consultants tend to forget about their blog. They may think they have enough clients through referrals, or they may just feel as if they don't have time to blog. But the fact is, blogging every day can add tremendous value to your website and attract more visitors. You can make money passively through your blog by recommending tools and other resources to your audience.
Create a Comprehensive Report -- Turn a "How To" blog post into a longer report, add several blog posts, some PowerPoint slides, and video and sell it as a comprehensive "How To" kit or report. People love all-in-one items because they don't have to weed through websites to find the information, they can just download a kit and learn fast.
Compile Your Work Into an EBook -- You can edit, reorder, and add to the blog posts on your website to create a comprehensive complete book about your niche or your story, depending on what types of content you put on your blog and sell it as an eBook. If the content is completely original you can sell it as a Kindle book.
Create a Membership Site -- Once you have a few products, you can now put them all behind a pay wall and sell them within your membership website. Include a forum and you have group coaching, and user added content at its finest. Many people will pay a small monthly fee to be able to access your work. You don't have to include everything you have in the membership site either to make a lucrative recurring income from memberships.
Finally, don't forget to cross sell and upsell at every opportunity. Every thank you page, thank you note, and interaction you have with a customer is a chance to recommend one more thing to your audience. The point of the passive income stream is to push them towards your most lucrative product. That product is you. Time with you, one-on-one should be only earned by paying a premium. You can only afford to do that if you have a well established passive income stream to fall back on.