Digital Life for the Expat Wife - Part 6

Date Created: 11.06.2015

How your Passion can bring you a Passive Income On-line.

Your passion.

What are you passionate about?

What makes you so excited that it keeps you up at night?

Is it cooking? Jogging? Writing? Is it teaching kids? Designing? Travelling to Africa?

Read this short story:

I know this woman who loves to knit. She thought it was a ‘weird hobby’. She knit scarves, baby suits, hats and other stuff, mostly for her own kids and her friends’ kids. She never thought that her hobby could (and would) repay her income as a high school teacher within a year and that by the second year – her income would even double.

But this is exactly what happened. A friend of a friend saw one of her woolen hats and was absolutely astonished by it. She ordered 10 hats as a loot bag gift for her son’s birthday and the ‘snow ball’ started rolling. More orders of more and more products started piling in, and this woman worked like crazy as a teacher in her day job and in her knitting business during evening. She made an amazing salary that year but she was exhausted.

The real exciting turning point came when one of her customers asked her to teach her how to knit. She wanted to do it herself. Then, the husband of this ‘weird hobby’ woman quickly realized: there could be a whole lot more to this!

Soon, this knitting woman left her day job and began teaching to men and women who wanted to learn how to knit. Things got even better when she opened her On-line store with her knitting products, where customers could reach her by themselves and do all the shopping without her.

Now that is a passive income! 

One of the products in her store by the way was a 10 lessons video course, where she teaches how to knit children’s clothes. Now she is free to develop more products and courses because her sales run totally on an automated On-line system.

Weird hobby it is.

Your passion and the new digital economy

Digital economy definition:

“Digital Economy refers to an economy that is based on digital technologies. The digital economy is also sometimes called the Internet Economy, the New Economy, or Web Economy”

Nowadays, the digital economy has enabled people of all ages to utilize their passion, hobbies and interests as an approach to making money on-line using just a laptop and an internet connection.

The fact that people have begun buying and earning their education on-line, combined with the fact that you can do and generate everything, and that means everything, on the internet, has created huge opportunities for everyone out there.

There is no more: “weird” things that you love. You can love everything and you can even make money On-line out of everything, if you will get the right education and guidance.

Ways to make an On-line passive income out of your passion

At my on-line academy, we are asked to think outside the box, meaning, be creative.

The suggestions that you will read below are not so creative. People around the world who are interested in the digital economy and the on-line business industry, know ways of using the Internet to make money out of their hobbies.

But if you never thought about it before, these ideas can give you something to think about and maybe will drive you to start your own passive income on-line:

1. Start a blog and share your knowledge

A blog is your ‘Digital home’. It’s the place where you invite people to ‘enter’ your mind and access your knowledge, where you can give them valuable content about a topic that you are passionate about. I like to think about my blog as a place where I ‘host’ people, I share my knowledge with them and we are have conversations about topics we are interested developing ourselves.

Nowadays it is so easy to start a blog. You can search on Google/YouTube the phrase “How to start a blog” and in 5 minutes you will have a blog of your own.

You can also sign up for the Digital Business Lounge  – I’m using it and it’s so easy to use, just follow step by step with the system and create your blog in 3 minutes.

2. Sell related products in your niche on your blog

If you heard about becoming an ‘affiliate’ on the internet, this is exactly it. You don’t have to have a product of your own to sell (most of us don’t have, don’t feel bad about it…) but you are using some great product for your expertise niche or hobby. You can recommend this product in your blog, tell the world why it’s a ‘cool tool’ to use and maybe even teach your readers how to use it.  Then you put a link (‘Affiliate link’) which leads to the company website, where your readers can buy this product. When people buy this product – you will get a commission on the sale.

It’s very important to make sure that you first sign up to the company who sells this product’s, and to get from them your ‘affiliate link. Now you will get the commission if people will buy from your specific link.

You can also sign up as a general affiliate at AMAZON and find related products to your niche there.

If we go back to the knitting lady, she can sell  knitting-needles and knitting wool on her blog (I actually think she is…)

Here you can read more about Affiliate marketing and how you can benefit from it.

3. Teach people something, sell it as a course or as coaching services

Like with the story of the knitting hobby, there is a big demand now to learn and gain knowledge On-line.

People understood that going to get a university degree could be a good idea if you want to meet your future husband/wife and gain some serious friends for life, but to become financially free.. Umm.. well… not so much. With a university degree you can, in most cases, find a job to pay your bills but you can’t achieve your dreams, not to mention financial and emotional freedom.

So, if you have knowledge in any field that you know you can teach other people to benefit from – you can create a course, an E-book, a video series – and sell it on your blog. You can also offer your coaching services in a specific field (the children/baby industry is a good place if you know how to teach parents to start controlling their kids…:-))

Of course, you need to make sure that you do provide great value and that people can learn something from you and implement it in their life.

4. Open an On-line store

This industry is absolutely flourishing these days and can be a great passive income path for ‘arts and crafts’ people. If, for example, your passion is to create personal decorated wall clocks – you can sell those On-line. Search on the Internet ‘how to start my on-line store’ and I’m sure you will find a step by step tutorial teaching you how to do it.

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These are the first common 4 ideas that come to my mind when I think of creating passive income on-line from your passion. All the options I implement are very serious and people around me are making great passive incomes doing it.

It’s also not a ‘click on a button’ kind of ideas. It’s requires gaining an education, get the right knowledge and maybe some small financial investment. These ideas will take you time to implement and start rolling, but once it’s out there and you continue developing yourself and your business – they can grow you a passive income out of your passion.

Let’s wrap it up

“Follow your passion, be prepared to work hard and sacrifice, and, above all, don’t let anyone limit your dreams” (Donovan Bailey)

Imagine you heard about the concept of “passive income” and you want to create it in your life. Imagine you do your research and find your path: you are creating your passive income by selling orthopedic products as an affiliate!

Now, if the orthopaedic industry is your passion – you will do great in it. You will pursue your goals and dreams and you will provide great value to people that, for sure, would ‘stick’ to your passion and would buy your products.

But if you are not passionate about this industry – let me save you the trouble from the beginning, it won’t work!

You will get tired and frustrated too soon that you will never see any results in your new venture.

This is why PASSION is the key to passive income on-line. You will not succeed in something that you hate to sell/do, that you don’t believe can help other people (trust me, I have been in this ‘orthodontic products’ thing and it didn’t work out… no wonder  :-))

So before you start your journey in the on-line passive income – ask yourself this:

What is it that I’m passionate about?

 

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Tal