Ep 79: How to Increase Passive Income with Speaking
You’ve seen the Facebook ads, listened to gurus, and downloaded the resources that promise to help you “Make Money In Your Sleep!” But something isn’t adding up. Passive income has started to feel more like a mythical creature than a reliable revenue stream in your business.
Let’s be honest, there is a lot of misinformation out there about what passive income really looks like. In today’s episode of The Creative Speaker Podcast, we’re breaking down exactly what passive income is (and isn’t), how to get started right now, and how speaking can be the secret sauce to increase your passive income sales without feeling icky about it.
If you loved this episode and it motivated you to add speaking to your business, I’d love for you to leave me some positive feedback on iTunes and tell me about your biggest takeaway. Take a screenshot of you listening on your device, post it to your Instagram Stories and tag us @thecreativespeakerpodcast.
Episode takeaways you don’t want to miss:
Passive income is revenue that comes into your business when you are not physically in the office doing to the work (without trading dollars for hours).
This gives you more flexibility for going to speak at events. Without passive revenue in place, time away from your office is money out of your pocket.
Common Misconception: Passive income isn’t necessarily passive. You still need to feed new audience members into your funnels and serve your clients/customers/students.
Passive revenue streams are the perfect way to scale your business from the stage. Even if your current workload is completely maxed out - you can still serve your audience at each and every speaking engagement.
If you are a 1:1 service provider go back and listen to episode 77 on how to leverage speaking to grow your 1:1 service
Having passive revenue set up in your business does NOT mean you’re going to sell any of it from the stage.
We need to shift our thinking. We’re putting way too much focus on our end goal (sell the product) and not enough focus on what really matters - our client’s journey.
Audience members are likely meeting you for the first time. 20 minutes after meeting you, are they going to be ready to buy into your big fancy-schmacy $3k online course. Maybe, maybe not.
What do they need to know, understand or be able to do before they’re ready to say yes. Is your presentation, or post presentation funnel hitting on all of those?!
Let’s unpack a few specific ways to leverage speaking to increase your passive revenue:
Use speaking opportunities as a new entry point to your funnel
Add a trip wire on your opt in page to increase passive sales
Fast track your customer journey in-person
Plan your launch/revenue calendar around speaking opportunities
Use speaking to Target your ideal student audience. This is especially helpful if you serve a mixed audience in your business.
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Resources mentioned in this episode:
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