Tuesdays Together Appleton | July 2018 Passive & Diversified Income Meeting
This month we met and had our Tuesdays Together Appleton meeting at Salon Elan in Appleton. We had a small turnout, which was awesome because it made for a lot more intimate conversation. And we’re able to go individual by individual and actually walk through passive and diversified income. What each person wanted to do, and then we all brainstormed together for each individual person. We discussed how each person could implement those ideas for passive and diversified income within their business and helped strategize. Strategize and find out how they can really benefit in their business and what they want to do as far as diversifying, and adding passive income to their business.
When we talk about passive and diversified income, we’re talking about passive as in not completely passive. You still have to do a little bit of legwork in the beginning to get it going. But once it’s there, the idea is that you can just do it one time, and let it run without having to really worry about maintaining it, or up keeping it in the future.
We all have so many hours in a day. We have the same 24 hours in a day that everyone else does. So there’s no judgment there. There’s nothing that’s different there. We all have the same amount of time. But at some point, we cap on our time, and we cap on how much we can work as an individual. So trying to add in passive and a diversified income is a way to tap into your income, which is limitless. You don’t have a cap and how much you can earn as a person, but you do have a cap and how much time you have. So adding a passive and diversified income into your business is one of those things that can help you continue to earn money without having to take away from that limited time that you do have.
One of the things that we talked about was affiliate links and referral programs. Take a look around at what you have and what you use already. If there are programs that you already use within your business that have an affiliate link or affiliate program or a referral link that you can share, get out there so that you can earn monies with that referral links or affiliate programs. Not only do you earn a commission off of it, but then whoever uses that link will also earn a discounted price, too. It’s a win win situation for everyone there. Especially if it’s a product or service that you truly stand by.
Start thinking. There may be things that you know, but you think are common sense that other people don’t really know. So, it could be a matter of creating evergreen products or services, or doing a webinar or a course, or teaching a workshop or providing an info sheet on something that you already know.
And if you’re an introvert, and you don’t like to be in front of people, maybe it’s easier to get just behind a computer screen and talk into a camera and do a live video. You can offer it free, or you can charge a really small nominal price or fee. This just get your audience educated and learning more about you and what you do and maybe it will help them want more. Provide them some value, some content and it can live on forever. So who knows, maybe you sell one of your $10 webinars once this year. But then next year you sell 500. So, it doesn’t matter. It’s limitless. You create it one time and then you let it live on and sell itself over and over and over again.
There’s no cap to how many times you can sell that webinar. It can continue to grow without you doing anything more than the front work ahead to get it going. And then of course, maybe some marketing on the back end too, here and there. But ultimately, you’re not spending a great deal of time. You’re not consistently and constantly spending that time doing it.
Another thing that we talked about is doing was a downloadable. There are definitely a lot of different places to create one and you don’t need to graphic designer. You don’t need to know photoshop to do this either. You can actually create so many different things in Canva. You can do a free account, which will give you access to just about everything that you need, or you can do the paid program which I think is still really affordable.
Two Big Lessons
Two of the big lessons I think we learned or that we talked about is that, you should enhance the skills that you already have. Perhaps if you’re a calligrapher, a copywriter, a photographer or a brand marketing person, ultimately you know your area. You know your niche. You know what you’re good at and you don’t really think … you just think maybe it’s common sense. Maybe it’s common knowledge that someone would know how to do X, Y and Z. But taking the time to sit down and actually break it down to step 1, 2, 3, 4, 5 will tremendously help. “Okay, you know what, I don’t just provide photography, I provide advice. I provide guidance. I provide an actual service and products and educating them on what to wear, how to look, how to smile, or to pose, how to choose the best light or why certain lighting conditions are better than other lighting conditions.” So there’s so much more that goes into photography, for example, than just taking a picture. And so it’s up to us to educate our client and to break it down.
If you are a makeup artist, and you go into a person’s home and apply makeup; add value and benefit. “…not only do I provide makeup, but I provide education on what makeup cells are going to work best for you and will help analyze your space in which you apply your makeup etc.” Or perhaps just giving them guidance on what kind of ring light or what not to buy it and make it so that they have a better makeup experience. That’s just one example that we walked through today.
The second thing was “doing is better than perfect”. So many creatives struggle with, “I’m afraid that if I don’t get this just right, I’m going to disappoint a bunch of people,” right? Or that, “I’m going to let someone down and that someone’s going to be unhappy.” At the end of the day, we can’t please every single person in what it is that we do and the products and services that we provide out there. And the best thing that we can do is just for ourselves. So work for yourselves and know what your limit is, and like I said, doing is better than perfect. You don’t have to have it completely perfect before you launch something or put something out. The fact of the matter is, if you’re waiting until it’s perfect, how many people in that timeframe are waiting to be your customer, but they don’t even know that you exist. Or they don’t know that, that product or service is there or that you offer it. Unless you at least put out a trickle of what it is that you have out there that’s available, that people can purchase or buy from you or hire you for, products or services or what not. So just do it.
Doing is better than perfect.
You don’t have to wait until everything is absolutely perfect before you put something out there. Just give it a try. Try it. If you suck at it. If you fail at it, it’s okay. Just pick up the pieces, figure out what you did wrong. And then learn and grow from there. But it’s easier if you just get going now and start working at it and then learn faster.