Today, we’re talking about passive income, one of my favorite, favorite topics of all time and one that could absolutely change your life and business if you embrace it.
Today, specifically, we’re talking about why passive income is a mindset issue rather than a logistical one or a marketing issue.
If you’ve been struggling with this one, you’re going to love today’s video. Let’s get into it.
Prefer to listen? Click here.
Passive income in itself feels like a really amazing thing.
You create something once, like a book or a course, people buy it and you get paid multiple times. Otherwise known as making money while you sleep.
This isn’t a dodgy thing, by the way.
Authors, musicians, actors, inventors, franchisors, and companies who license their brand name are all legit businesses that may receive passive income in the form of royalties. Property investors are another group who might receive rental income as passive income.
But for some reason, female entrepreneurs get get really, really blocked around creating passive income in their businesses, and resist it like crazy!
Now, let’s unpick some of the reasons why.
#1: It triggers your money blocks
First of all, it obviously triggers some of your money blocks.
It triggers some parts of your brain that tell you that this is too good to be true, “I’m doing something dodgy here and this is against the natural order of things.”
Let’s go down one level deeper into why that is.
First of all, creating passive income and getting paid for something that you’ve already created feels like cheating. It feels like you’re not really earning it.
A money block that a lot of us women have is that we have to work really hard to make money.
How many times have you heard things like:
“Money doesn’t grow on trees?”
“You can’t get something for nothing.”
If you grew up hearing these things, then the concept of being paid for something that you already did feels like cheating and it feels like you didn’t really earn it.
That’s one mindset hurdle that you really have to overcome before you create your passive income products.
I remember when I was writing my very first book – and after procrastinating for months, I finally put it up for sale on my website. It was only $15, but every time someone bought it, I felt so guilty. I felt like I didn’t earn it.
I almost felt like I had to call up the person and say, “I’m so sorry you spent $15 on the book that I wrote a year ago. Can I read this to you over the phone? Let me earn this money, please. Let me earn it.”
That was for a $15 eBook.
If you’re wondering why you’re procrastinating creating a product in your business, that could be a reason why! Does it feel like cheating for you?
#2: It feels too easy
Many women overlook potentially lucrative business opportunities because it feels too easy or obvious to them.
You’re thinking, “This would be really easy for me to create. Why should anyone pay me for it?”
Again, that speaks to that same money block that you have to have blood, sweat and tears in your product or program in order for you to justify earning money.
Remember, it’s totally okay for you to get paid for something that’s easy and enjoyable for you.
I want you to really get this…
Just because it’s easy and enjoyable for you, doesn’t mean that it’s easy and enjoyable for somebody else.
There are lots of things that I purchase because, frankly, I’m terrible at them. I don’t care that it’s easy for the creator because I want to learn from them, especially if it’s their Zone of Genius (shout out to Gay Hendricks).
So, remember, just because it’s easy for you doesn’t mean it’s easy for somebody else.
It’s totally okay for you to make passive income from doing something that is easy and enjoyable for you.
In fact, that’s the first thing you should create passive income out of – things that you LOVE.
Package up your knowledge and expertise and make it beautiful for somebody else to learn from you.
#3: It feels like an unequal exchange
The last reason why it feels icky to earn passive income is because it feels like an unequal exchange.
You think, “I created this once, but then now people are STILL giving me money for it.”
In reality, that’s an equal exchange. Somebody gives you money to consume your product, program or book and you receive it. That’s perfect, right?
It might feel like an unequal exchange to YOU because you didn’t sweat over it, but you created the product or program and then they purchased and consumed it so, the exchange is done.
You don’t have to feel like you have to constantly overdeliver to justify somebody spending money on you.
That is totally a mindset issue. Feel good about the value you’re offering to people EVEN IF you’re not having to work harder for them to buy it.
I’ve actually got a free workshop for you, specifically on passive income and the mindset of passive income.
We’ll go deeper into some of the points I’ve mentioned here.
If this is something that you want to nail in the next year – and I really hope you do because it will absolutely change your life and business – then take time to listen to this webinar today.
It’s about 30 minutes; you can just listen to it as you go about your day.
It’s at www.LuckyBitch.com/Passive
We’ve got to get your mindset right before we can take action on creating those passive income products and programs in your business.
I wish amazing financial abundance for you and, really, this is the first step.
Put your hand on your heart and repeat with me:
It’s my time and I’m ready for the next step.
See you on the other side of the passive income webinar.
Watch now at www.LuckyBitch.com/Passive
Did you miss last week’s post? Check it out here: How to Take Time Off Without Losing Income