There’s a myth about passive income.
People have this idea that you do nothing at all and money somehow magically appears in your account. After all, it’s passive right?
Not true, I’m afraid! 😒
Creating passive income means creating an asset upfront that you can then make money from time and time again. The hard work is upfront but then it gets so much easier!
Building passive income streams and assets from day one in my own business has helped the business to grow and scale in a way that just wouldn’t have been possible otherwise. We have been able to reach and impact more women than I could have dreamed of, and at a rate I wouldn’t have thought possible.
Passive income has also helped me continue to work on my own money mindset (I know right, me too!) Growing up I had the belief that you had to work hard for money, to be comfortable and have the lifestyle you desired. I believed you had to work so hard, in fact, that you almost never stopped. But at the expense of what? Our mental health? Our families and friends? Actually enjoying the lifestyle we have built?
Rationally of course, I knew this was a self limiting belief, but – growing a passion based business which helps millions around the world, supports the lifestyle I wanted for myself and my family, and does so without me having to work tirelessly until I drop – has allowed me to provide my brain with the proof it needed to smash that limiting belief.
I overcame my own self limiting belief thanks to the power of passive income. Powerful, right?!
Is Passive Income a Myth?
On this episode of the podcast I was joined by Lisa Johnson to discuss how we can find our one big idea to create recurring revenue!
Lisa is the go to passive income strategist and expert and queen of all things passive. She’s helped over 2000 business owners add passive and semi-passive revenue streams to their businesses giving them back more time and she can help you too.
We all have money beliefs and blocks that stop us from feeling either comfortable receiving money or investing in ourselves.
The money blocks Lisa sees in her work as a passive income strategist
- We grow up thinking money is vulgar and something we shouldn’t speak about
- Money is taboo
- If we are making good money others won’t like us
- Rich people are bad people
A lot of women find it difficult charging for services because we think of ourselves as the caregivers. Men feel they have to be the provider, and work hard.
How to start finding your one big idea to Create Recurring Revenue & Passive Income
- Is there a way to teach others to ‘DIY’ what you do? Remember, not everyone can afford a VIP 1:1 service.
- Can I teach people to be me? Can you teach people to do what you do, or a part of it?
- Can you utilise your existing career skills, e.g PR, customer journey, user experience, administration and organisation, or any other transferable skills you have gained in your career thus far.
- Look to your hobbies! What is the one thing people always ask you “can I pick your brains” about? Think about the thing you find fun and know more about than someone 2 steps behind you.
Listen to the Full Interview
Passive Income is a Myth…
Lisa also shares with us the importance of niche, building the know like and trust factor, and audience growth. Growing the audience is where most people give up, and is the bit that is not passive. Lisa shares with us how she grew and engaged her community ready to launch her first offering.
Find Your One Big Passive Income Idea
Lisa has a completely free challenge starting Monday 14th June 2021 to help you nail your big passive income idea. There is still time to register: click here to catch up on any days you may have missed on replay! By registering for her FREE 4-day challenge Race To Recurring Revenue, you’ll find out:
💥 What types of recurring revenue streams are right for you
💥 The 5 step system Lisa uses with all of her clients to add in recurring revenue streams
💥 The biggest mistakes people make when it comes to recurring revenue
💥 What you already have that can make you recurring revenue now
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