Episode 126: 5 Steps to creating passive income in your business

Links mentioned:

• Click here to check out Systeme.io
• Click here to book a free Discovery Call
• Click here to access Passive Profit Plan
• Click here to visit website

In today’s episode, I’m diving into my proven 5 step roadmap for creating passive income in your business. If you’re a coach, consultant, creative, or service provider who’s feeling stretched by constantly trading time for money or you’re simply ready to make your expertise work harder for you then this episode is packed with actionable insights.

I’ll break down what passive income really is and show you how to turn your knowledge into scalable digital products like courses, templates, toolkits, and more.

Whether you’re just getting started or looking to add new income streams, I’m sharing practical examples, my go-to tools, and the mindset shifts that helped me build a more sustainable, profitable business.

So grab a pen and paper because this roadmap could change the way you work!

Transcript

Karen [00:00:00]:
Hello and welcome to Online Business Uncovered. This is episode 126 and in today's episode, I'm going to be sharing my five step roadmap to creating passive income in your business. So let's jump right in and let's get started. Hello and welcome to Online Business Uncovered. 

This is the show that helps you turn your valuable expertise into scaling digital products. And today I'm talking about passive income. I am your host, Karen, and as always, I really do appreciate you hitting that play button to listen to this episode. So today's episode is one that you are going to want to grab a pen and a piece of paper for, because I am diving into my five step roadmap to creating passive income in your business.

Karen [00:02:39]:
So this is the exact framework that I use in my own business and it's the process that I use to guide my clients through when they're ready to stop trading their time for money and finally create a scalable offer that earns money when they're away from the desk. So if you have ever thought to yourself, I know I've got really valuable knowledge and I suspect that people will pay for it, but I don't know where to start, then this is the episode that you're going to want to listen to because I'm breaking the steps down. But before I do, I just want to talk about what passive income is, because I think there is a belief that passive income, it just materializes. So when I say let me help you create passive income in your business, it could be, okay, something that doesn't require any work that just, it's like a tab that I turn on that starts to pour out money. And that is not the case. It's not set it and forget it forever kind of thing. This does take upfront effort, but once it's created, a passive income product can continue to generate revenue with minimal ongoing effort from you. And that is the point.

Karen [00:04:02]:
We're not just materializing something to make you money. There is that effort that needs to be put in at the beginning. But once that effort, effort has been invested, then you can make money repeatedly from it. So think about offers like mini courses, maybe templates or toolkits, audio training, membership, or it could even be things like paid challenges or digital workshops or digital podcasts. If you are a service provider or a coach, and maybe you are just at that point where you are just feeling stretched, maybe you're fed up of having to go and find clients all the time just to keep the lights on in your business, then this is something that you're going to want to consider because this is where you get to take that genius of what you know, package it up into something that you can sell on repeat and that then comes passive income. So we're not talking about something that just is just materialized. We are talking about something that yes, you are going to need to create, but once you have created it, you can start to make money from it on repeat. Now, in my own business I have spent probably the past sort of five years focusing on building passive income streams in with what I do.

Karen [00:05:39]:
So my, my background is as a provider. I had a branding studio where I'd provide creative services. And when lockdown hit I realized that the business that I was creating for myself was not sustainable because it relied too much on me. And I had no intention of wanting to grow a team. I did not want to be responsible for having to pay for other people. It just wasn't something that I, I was interested in. I didn't want that respons responsibility. But once I realized that the business that I was focusing on, what I was building on quicksand.

Karen [00:06:21]:
Because if I wasn't able to work then my business would be affected and my revenue would also be affected. I had to think of another way that was going to bring in more stability into what I was creating. And so I made the decision that I was going to build my business on passive income and that's what I've been focusing on. So today I have multiple passive income streams. I make money from hosting services, I make money from selling digital products. I have online courses. I also have a membership, sell your brilliance online membership and I also deliver group coaching as well and group programs. So not only do I have a service based offer where I work with clients, a consultancy service, I also have multiple income streams that I'm able in to rely on in order to bring money into my business.

Karen [00:07:31]:
So when I'm speaking about this, it's because I am in the trenches doing this and I have and I use this approach to build my business. And so the five step roadmap that I'm going to share with you today is, is my system for supporting my clients in being able to do this as well. So let's dive in to the five steps that you need to follow to get your first passive income product set up and running. And don't worry, I'm going to break each one down clearly so you know exactly what you need to do. Okay, so step one, you need to get really clear on what your Expertise is and you need to pinpoint a problem that you're going to be solving. You cannot sell a solution until you are crystal clear on that problem that you are solving. So ask yourself, what do people always ask you for help with? What feels obvious to you but others struggle with? And what problem have you solved for yourself or for a client that other people are still struggling with? Because passive income is all about solving specific problems that people are experiencing. And the clearer you can get to.

Karen [00:09:14]:
And the clearer you can get to. So for example, how do I come up with an online course idea that people will pay for? Okay, that was something that I was thinking about not long ago and so I developed a pro. Passive income is all about solving specific problems that people are facing. So for example, one of the questions that I Passive income is all about solving specific problems that people are going to pay for. So for example, how do I come up with an online course idea that people will pay for? That's the exact problem that my easy course Kickstarter kit solves. So start with a problem, not the format. So step one is about clarifying your expertise and pinpointing a problem. Now, in order to do this, you need to get really clear on what it is that you are good at.

Karen [00:11:09]:
What do people ask you for help with? What do you support clients with? Have you solved a problem for yourself that you know somebody else would benefit from? So get really clear on what it is that you're really good at. And then you also need to really understand who your audience is as well, and what they're struggling with and also why they're struggling with it. Because anytime that we create anything in our businesses, we have to go to where our ideal person is so that we can help them at that specific moment. So they're not going to come to you, they're not going to come to you looking for a product to solve a problem. You've got to go to them. So if you know that one of your clients, for example, is struggling with a specific problem that you can fix really easily by creating a very simple product, then that may be where your starting point is. So think about what your ideal audience are struggling with, pinpoint that problem and get really specific about that problem. The clearer you can get to understanding what that problem's about, then the easier it's going to be for you to create something that's going to support them with that.

Karen [00:12:31]:
Now step two is about choosing a bite size but high impact solution so it doesn't have to be everything. And the kitchen Sink it can be something so, so simple because this is where most people will overcomplicate things. They try to build an entire 10 module course with workbooks, with coaching, with Q and A, with bonuses, with and actually you don't need to do that. The first product that you should be creating should be simple, it should be fast to consume and it should be easy to implement. So what I want you to think about is creating something like a simple checklist or a three step system or a plug and play template, or it could even be something like a ten minute audio guide. It doesn't matter what the format is, it just has to solve that specific problem. So is there something that you can create that can help your ideal person, your ideal customer, go from being really stuck with something to achieving progress? And if there is, that's what you package up. So I have a product called the Passive Profit Plan.

Karen [00:14:00]:
This is a five step plan, five step system to coming up with your first product idea, planning it out and getting really clear on what it and what that is. It's a really simple, easy to follow mini course. And yes, there's resources and templates and things that somebody will need but it's, but it provides a solution because if somebody is struggling with to know what to come up with for their first idea, this plan gives them what they need to achieve that. And I sell this for 27 pound. So it's a very low cost offer but it delivers a high impact solution. So what is it that you can create that's going to deliver something of value? Now of course I've been doing this for a long time. So yes, I've got the resources and the templates and the tools within it, but you don't need to necessarily do that. You can just provide a simple solution to a problem and it could be that Maybe it's a 30 minute training with a template.

Karen [00:15:27]:
It doesn't have to be everything and the kitchen sink. Just keep it very simple. Okay, so step three is about building your product. But you've got to again keep this really simple. The great thing about where we are now in the online world is that there are lots of tools available to us that actually make this really simple. So you do not need to have a full production studio to do this. You can get an off the shelf tool that has exactly what you need to do what you need to do. So what I would encourage you to do is map out a really clear outline of what your product is.

Karen [00:16:17]:
What I would also suggest is that you define what the Delivery format is going to be. So this could be a PDF or it could be a video, it could be audio, or it could just be a very simple template. So you need to define what that format is and then choose a tool that you're really comfortable with. And this could be something like Canva, it could be Google Docs, it could be Loom. It doesn't have to be really high tech. You can create something in, you know, a Word document or an Excel spreadsheet. If you have a system, for example, that helps somebody to do something, but the format works in Excel, then use that. It doesn't have to be anything fancy.

Karen [00:17:10]:
Perfection is in the gulp, progresses. And so we have to start focusing on getting things done. Perfection isn't the goal here. Progresses, and so we have to get comfortable with being able to do things that aren't. That does. It isn't perfect because that's not what people are buying. People are buying a solution. So what can you create that gives somebody a solution? If you're an accountant, do you have templates that you can be packaging up and selling to business owners that maybe need to implement some kind of accountancy system in a really simple way? Maybe you have an Excel spreadsheet that will help them to.

Karen [00:18:50]:
So perfection is in the goal here, progresses. So I want you to ask yourself, can someone use this product and get a result from it without me having to explain it to them? If the answer is yes, then you are good to go. So, for example, something that maybe a bookkeeper could create or an accountant is an expense tracker, something that perhaps helps business owners to track their expenses. Maybe a business owner doesn't feel comfortable using an accountancy system. So maybe setting a template up in Excel may be an easier solution. So that could be a really good product that could be sold. Another idea could be a fitness PT person, somebody that specializes in fitness nutrition. You could create some kind of fitness tracker or journal that maybe helps your clients to keep track of what they're eating, the exercise they're doing, and maybe their water intake.

Karen [00:19:58]:
And this could again be really simple. It could just be a simple journal or tracker that is then created on Canva. Or maybe you are a. Or maybe you're a social media coach and you teach your clients how to create strategies in their business so that they can actually get results from social media. Could you package up a template, could you create a video where maybe you walk them through how to create a social media strategy plan and then provide them with the templates to go with that and Then you can package that up and sell that on repeat. All these ideas could be created in Canva, which is a super friendly, really affordable design tool that provides templates and really resources to help you create these products. And then if you're wanting to create a video that you can then sell, you can create that using Zoom, or maybe you can. You use Loom.

Karen [00:21:44]:
That's your go to platform. So you can record on Loom as well. And Canva has a recording studio. So if you wanted to deliver some training and record that training, then you can use the Canva recording studio to help you with that. So you don't have to go and buy other tools to support you with this. Use what it is that you have available. The great thing about a platform called Canva is that I think the pro version is about 10 quid a month, so it's not expensive. But you get so much for that, for that investment that you can actually create lots of different products that you can sell.

Karen [00:22:33]:
I know in my business I have lots of digital products that I sell. I've got a blog planner. So for somebody that is looking to start blogging, I have a planner for them. I've got an online course workbook, I've got online course worksheets. I have notion templates that I've created. I've got lots of different things and. And they're born out of a need that maybe I've had or a client's had. And what I've done is I've just simply packaged them up and I've put a payment wall around them and then I've sold them.

Karen [00:23:08]:
So you most likely have some great things in your business that you can use. You just need to really think about what your clients need, what can you can package up and what you can. So really think about this. Do you have training that you've already delivered? Do you deliver workshops in your business? Is that part of your, you know, your lead generation? And if so, can you take a recording and can you package that up with a workbook and sell that so you don't also have to start from scratch? You can repurpose things that you already have in your business. What you have to remember is that if what you. The great thing about this is that you are simply selling your knowledge and expertise, which means that once you do package it up, you can sell it on repeat because you're not having to be there in person to deliver it every time. Okay, step four is setting it up, ready to be f. Okay, so step four is about setting up a way to sell your product.

Karen [00:24:45]:
So this is where the passive income magic starts to happen. Because once your product is ready to go, then you just need a really simple system to get it into people's hands. So what you need is you need a simple sales page, a payment processor like Stripe or PayPal and an automated delivery system. So this is where maybe your email marketing comes in or a digital product platform. I personally use a platform called Sysden for this because it handles everything. It handles the checkout, the delivery and the emails all in one place. And what I love about System is that it's completely free to start, which is always a win. So you can start.

Karen [00:25:35]:
And their free plan as well is very generous. I've been using System now for a couple of years and I, I recommend it to my members in my membership because when you're creating digital products and online courses and memberships, you want a really great system that's going to support you as you grow. And the great thing about System IO is that it has everything that you're going to need for your online business. And as I said there is a free tier which is actually really quite generous. So you can start creating digital products. You can set them up to be sold and not have to pay anything. But what system allows you to do is just keep it really simple. Don't get lost in the tech.

Karen [00:26:27]:
The goal is to make it easy for someone who wants to buy fee from you. So having a really good, robust, simple to use system in place is going to really help you to move forward with. And one of the reasons I chose System is because you don't necessarily need to have an online course or a membership to set up a checkout. You can create an order form and a checkout page for anything. So if I'm running a workshop or maybe I'm selling a one off product or maybe I am creating a coaching program and I just need a sales page with a checkout I can do that in System. It doesn't necessarily necessarily need to connect to another product that I have created in the system. So for me I, I absolutely love it, I highly recommend it. If you want to check it out, I'm going to put the link in the show notes.

Karen [00:27:35]:
But I honestly you. If you are looking to create an online business and you are looking to create passive income, then then Systeme is one of the best platforms out there. So I do encour you to check it out, have a play around with it because you'll, you'll just love it and I love it. So my fifth and final step is about sharing it often, but doing this in a really authentic way. This is the part that I think most people forget because you have to talk about your offer. You have to talk about it a lot. And I know sometimes people worry about coming across salesy when they do this, but you're not, you're not having to be salesy in when you talk about your offer, your offer is a solution to a problem. When you present your offer, all you are doing is prevent presenting an opportunity for somebody to solve a problem.

Karen [00:28:43]:
Whether they take you up on that or not is down to them, but you're essentially providing the doorway that they can walk through to get to the other side. So if you are somebody that worries about coming across salesy, if you start to talk about what it is that you have on offer, then you just need to reframe your mindset. Because we, we are in the business of providing solutions. That's what we do. And we provide those solutions to the people that need it. And as long as you do this in a genuine and authentic way where you're providing value and support, you cannot be salesy. So I just wanted to kind of give a little prep talk, pep talk here because I know this is something that a lot of people struggle with, but it's also something that will hold you back and stop you from making money in your business. So all it takes is a little reframe around, around that idea of selling.

Karen [00:29:47]:
But once you get there, then you can absolutely move forward and talk about your offer in a way that is aligned to you. Now, as I said, we need to talk about our offer because we want to bring that awareness to what it is that we have to sell. So think about what you can do online in order to get it in front of the right people. So for example, you could, if you are on Pinterest and Pinterest is one of your platforms that you use, you could pin a post about, you know, linking to your offer on Pinterest. If you are on Instagram, then you can create a carousel or a reel and you can pin it to your Instagram profile so it's always there. You can also add links in the link area that links directly to your offer as well. You can also add it to your email welcome sequence so as when somebody signs up to receive your email newsletters, you can include it in that email sequence or you can just simply mention it on your podcast or in your blog content, if that's what you do. Now one of the great ways to promote your offer is to of course share client wins or personal stories that relate to the product because that will give it context, but also it will demonstrate how good your product actually is.

Karen [00:31:27]:
Because people need to hear about your product more than once before they're ready to take action. It's perfectly normal for somebody to come across what it is that you have to offer and not take action. Maybe it's something that they like the sound of, but they're just not in the right place at that moment to purchase. So you need to make sure that you're repeating yourself and you're showing up so that when they are ready to buy, you become the no brainer. Repetition is going to build that trust. Consistency creates momentum. Passive income doesn't happen without that visibility. So we need to repeat ourselves, we need to consistently show up and we need to be visible as well.

Karen [00:32:22]:
Now what I would encourage you to do, if this is new to you and you have never done this before, I would encourage you to start small and then stack. Because rather than diving in and trying to create a big course, something that you're going to end up feeling overwhelmed by, it's better to start small. Create one small, really great offer, get comfortable with selling it and then build from there. Because that first win that you're going to have is going to build confidence. And that first sale will show you what's possible. And if one person buys, there's no reason why a million people can't buy. And this is the mindset that we need to adopt to make this a success. Your first product is going to become the foundation for a product suite that you can then go and scale so you can create mini products that will eventually lead to maybe a full course, or maybe it will lead to a full membership or a group program or even a done for you offer.

Karen [00:33:36]:
My very first product was a brand strategy planner. And that was born out of a brand discovery workshop that I used to deliver with my clients. Because I needed to get a really good brief from them so that I could deliver their branding and their the and creative services. And so I decided because I was would spend a lot of time with them in order to really find out what it was they needed, I would package up my brand strategy workshop and I would charge them for that so that I could make money for my time. And then what I did is I turned that into a brand strategy planner that I could sell on repeat. It was the same stuff, the same questions, the same process. It was just condensed In a very simple planner. And that was so popular.

Karen [00:34:35]:
The first year I had in business, I had a party on my first anniversary and I created it to sell at that party because I wanted to have a product that I could sell on repeat. I had the content already because I delivered that brand strategy workshop. So think about what it is that you can create. That brand strategy planner then turned in to a full online course and that was my very first online course. Crafting your brand so one thing could lead to another and then before you know it, you have these products that stack. So somebody comes to you with a problem that you can support, that you can help with. All you can, all you do is simply offer them. These, these products that you've already created, they get the result and you get that, you get the income.

Karen [00:35:39]:
But you're not having to be there every time to deliver. Just starts with one product solving one problem. So what is it that you can create that's going to solve a problem? Now, if you want help taking the first step, if this episode has got you thinking and you know that you want to start creating passive income in your business, but you're not sure on what kind of product that you want to create or how to make it work, then I've got something for for you. I've got the passive profit plan which is a step by step roadmap to help you plan, package and position your very first digital product without second guessing every single decision. Now, inside this plan you'll get crystal clear on what product that you can create and I'm going to walk you through that planning process so that you can create something with confidence that you know you're going to be able to to sell. Plus I've got lots of different bonus tools with it. So I'm sharing my online business planner. I also have a guide 50 Ways to Sell your product.

Karen [00:37:09]:
And I'm also sharing my scaling up series that's going to help you to achieve momentum. So if that's something that you're interested in, then Visit my website, www.sellyourbrillianceonline.com Passive Profit Plan or CL. The link in the show notes, this is the plan that I wish I had when I first started. So I've packaged my own framework up and I'm selling it and it costs 27 pounds. So it's a small investment but it will give you big results. But it, it's a small investment to make but it will help you to but it will help you on your passive profit journey. So before I Finish up. I just want to sort of say that passive income isn't just for big influencers.

Karen [00:38:18]:
It is for you. Whether you're a coach, a consultant, a creative or a service provider who's perhaps tired trading your hours for income and wants to create a business that works for them. So if you have been waiting for the right time, then now is the right time. You can do this. I promise you you can do this. So I just. Let's just recap. So here's just a recap on my five step roadmap.

Karen [00:38:51]:
So first and foremost, clarify your problem. Get really clear on what your problem is. Is secondly, create a bite sized solution. Third, build your product. Simply don't over complicate it. Four, set it up in a way that you can sell it. And then finally fifth, I want you to share it consistently. Okay? So let's recap on my five step roadmap that I've shared with you today.

Karen [00:39:28]:
Step one is about clarifying the problem. Step two create a bite sized solution. Step three build your product. Simply do not overcomplicate it. Step four is set it up in a way that you can sell it. And step five is sharing it consistently. You can start this week, you can earn while you rest, and you can ultimately build a business that supports your life and not the other way around. Your brilliance is so worth being paid for.

Karen [00:40:09]:
Your brilliance is so is worth paying for. Your brilliance is worth paying for. And passive income is how we make that brilliance work for you. Thank you so much for tuning into today's episode. I hope you found this episode of value. And of course please do feel free to share with others who you may think will also benefit from today's episode. 

Now, if today's discussion has sparked some inspiration and you are eager to get started with creating your first passive profit product, then head on over to my website, www.sellyourbrillianceonline.com/passiveprofitplan or click the link in the show notes to take you straight there. I will be back next week with another episode, but until then have a great rest of your week.