Hello, gorgeous Lucky Bee.
Why the hell would you resist passive income? Well, we’ve all done it!
I know that in some way you’re either resisting getting started, or resisting taking your passive income to the next level.
This is a gentle smackdown from me, so let’s get right into it.
Prefer to listen? Press play below.
Lucky Bitch Video Transcript – 4 Reasons You’re Resisting Passive Income
First of all, you might be wondering what passive income is.
One of the definitions of passive income is: money that you didn’t have to actively work for.
But in business, that’s not true.
It’s money you earn from something you’ve created in the past.
So it means not having to trade your time one-to-one for money.
Generally, with Internet marketing or online business, it’s something you’ve created once, put your heart and soul into, and people can buy it without you having to do a lot more work to earn that additional money.
For example, a book you earn royalties from, a course that people can buy off your website, etc. You (theoretically) do the work once and get paid without doing more work.
Sounds simple right?
But it’s not. In my experience, earning passive income starts to bring up some interesting things for women.
Let’s be honest here
I have a very successful business, and I still resist passive income. I still have money blocks that I work on all the time – even though I have a very healthy seven-figure business, and most of my income comes from passive income sources.
Passive still requires work
That’s the dirty truth of passive income. It still takes a ton of work.
I don’t just go to the beach every day and sit there and money comes in. I still do a lot of marketing in my business (even though I’ve created amazing systems).
I’m the CEO of my business, and I have to manage it in order to make the passive income work. I’m not out there sweating for the cash, but it would stop if I took my eye off the ball.
But that’s not why women resist it. Most people aren’t afraid of a little hard work. The blockages are a lot trickier than that.
Here are four reasons why you might be resisting earning more passive income:
1: It feels slightly unethical
The biggest resistance I had to passive income at the start, was that I felt like I was doing something a bit weird, unsavory, and even a little bit unethical.
Who am I to earn money easily?
This is weird because, for example, a form of passive income could be royalties from books. And you don’t think all those authors who are getting royalties from books (think of some of your favorite authors) are doing something shady every time you buy a book from them, right?
You’re just buying something they created, sometimes five, ten, fifteen or twenty years ago, that they’re still getting paid royalties for today.
But somehow, in the Internet marketing space, it feels a bit icky.
Maybe you’re worried that you have to scam people, or do something unsavory to earn passive income.
That’s absolutely not true at all
The second reason you might be resistant to passive income is:
2: It feels like cheating
I’ve definitely felt like that, especially with my bestselling passive income course: The Lucky Bitch Money Bootcamp.
Over the years, it’s gone through three different versions and I upgrade it every few years, but it’s an evergreen course (meaning I don’t do big launches, people can buy it every day).
Yes, it took months to create it, but I earn passive income from it every single day, without a lot of extra effort.
The very first time I ran the first course, it was the most stressful experience ever. I pulled an all-nighter almost every night for weeks. I created all the content last minute, I was super stressed out and I didn’t talk to my husband for weeks (I didn’t even shower for weeks, I swear!).
It was stressful
But, at the end of the day, I felt like I earned that money because I literally put a lot of sweat into the course.
That’s why people say they put their “heart and soul” into their business. Or “blood, sweat and tears”. Holy crap. No wonder why people feel guilty.
You can’t put a price on your soul, right?
Your creations feel like your babies
There are tears
There might not be blood, but it’s like you’re putting your life’s essence into creating something for the first time.
If you’ve ever written and released a book it feels like you’re giving birth to a baby. It’s a massive, creative project that requires a lot of energy.
If you’ve created a course before – you understand the work that goes into it.
But think of the second time you run it.
Suddenly you don’t have to do as much work. The sales page has been created. The videos done. The email sequences written. You can re-purpose a lot of the work.
For me, and lots of other women, we suddenly feel like we’re cheating. We’re like, “Oh, hang on. How am I allowed to earn this again when I’m not putting MORE blood, sweat and tears into it?”
That’s why women resist it, or they break their businesses so they have to start again from scratch. Or you feel guilty from earning the money because you feel like you didn’t really earn it.
That’s a very common money block. We feel like we have to work extra hard to earn money or it doesn’t count.
It’s a big one to overcome.
Here’s another one:
3: Perfection or nothing
Oh man – this is a brutal one that is honestly killing your income potential. Everything has to be perfect, or you won’t share it. This one definitely holds women back.
You probably have a lot of stuff sitting on your hard drive already – work that you’ve created that could be one of your first, or next, passive income products.
But you think, “It’s not perfect, it’s not ready.”
I’ve never done that…
Wait. Yes I have.
Here’s an example: I created my Manifesting Course YEARS ago.
I ran it once or twice as a live course, and then I went into a professional recording studio and re-recorded the whole program so it would sound really nice.
Then I did nothing with it for three years.
Literally, it just sat on my computer doing nothing. Because I thought, “Oh, I don’t like the branding. The logo is ugly”
Finally, a friend said, “Oh, my God. Here’s the name of my graphic designer. She’s really quick. She’ll do something great for you.” I totally resisted paying the money for it. Finally I did, and released it.
Now, this course makes me, on average, about $17,000 of passive income every single month. Something I created a couple of years ago. The content is great, and I get amazing feedback from it all the time.
It’s a $200 course, and I make money out of it every single month. But I resisted that money for a long time because I didn’t think it was perfect. I thought it had to be super amazing before I was allowed to put it out.
Think that’s out of reach for you?
My very first passive income course was $50, and quickly made me around $1200 each month (24 sales a month).
What could you do with an extra $1200 / month. Seriously – ponder that for a moment.
Is your perfectionism keeping you from earning that money, and achieving those goals?
Perfection rarely makes money
Let this be a big lesson to all of us.
You’ve probably got amazing passive income products all ready to go or you’ve already got content that you can re-purpose.
You could refresh the brand, upgrade some of the elements of it and get it out earning money for you straightaway. Seriously – get your information working for you.
It’s not making you money sitting on your computer.
People need that information
We get emails every single day from people who love my Manifesting Course.
And I think, “God. Imagine if it was still sitting on my computer. All those people would never have been able to access it, and I would have missed out on all that passive income at the same time.”
That’s a hugely important one about the perfectionism thing.
4: You feel like you have to reinvent the wheel
I see this all the time with women.
They say, “I’ve already delivered that course. People liked it, now it’s over.”
Or “I launched it and only got one person.”
I’m like, “Great. Run it again.” They say, “Oh, I can’t run it again.”
Why not? It’s already there. You’ve done the work. Now reap the reward and stop reinventing the wheel.
This goes back to my first point of feeling like you’re cheating if you’re not creating new stuff all the time.
I was reading Judd Apatow’s book, Sick in the Head recently and Amy Schumer talks about her stand-up routine. She says:
“80% of it is the same material. I don’t feel like I have to reinvent the wheel all of the time because it’s my best stuff and there’s new people in the audience every single time. The people who come and see you all the time and know all your material? They don’t care because they love you anyway.”
That’s how I feel with this whole reinventing the wheel thing.
Millions of people in the world are potential customers
Just because you’ve already found 10 of them doesn’t mean that’s the end of it. It doesn’t mean that’s the end of your customer base forever.
I’ve done this myself when I got to 500 and then over 2000 people in my Lucky Bitch Money Bootcamp.
I thought, “Maybe I should do a different course now. Everyone has seen this.”
OH REALLY? EVERYONE IN THE WORLD?!!!!!
Then I was like, “Dude. There are a lot more people that need your work before you quit and create something else.”
(I coach myself all the time too – and I’m making ALL the same mistakes, trust me!)
Leverage what you’ve already got, stop reinventing the wheel.
You can improve the wheel but don’t reinvent it.
You can spray paint it in glitter every couple of years – and that’s exactly what I did with my Lucky Bitch Money Bootcamp.
The first version was me in my office, filming it myself on my ipad, no microphones, no fancy backdrops or anything. Cost: nothing
The second version was me in a hotel room and one camera guy. We had to move the bed around so it wouldn’t be in shot. Cost: around $1550 for filming and editing
The third version, which is the current version, was a whole team – from set designers, to amazing graphic designers, and a four-person crew. Cost: a lot!
It’s really pro NOW, but it didn’t start out like that.
I go through all the costings and show you the different versions here.
You can improve things, but don’t feel like you have to completely reinvent the wheel every couple of months for you to really “earn it”.
Get focused on something – get well known for it – and that focus will bring passive income.
The last tip I want to give you is this:
It’s safe for you to create passive income
It’s okay for you to make money out of something you’ve done before.
It’s okay for you to make money out of something that’s easy for you.
It’s okay to make money out of something that doesn’t take a lot of work for you anymore.
It’s totally safe for you to make passive income
When you shift your mindset, the other stuff falls into place.
Give yourself permission to make easy money.
Give yourself permission to improve things rather than throw things out.
Give yourself permission to be imperfect and take action anyway because people need what you’re offering.
Allow yourself to profit from your skills
Need some extra help with your mindset?
I did a whole live webinar on this mindset of passive income, and I’d love to give it to you today.
It’s totally free for you to download and watch, and it will be an amazing investment in your time.
The whole passive income shift will completely revolutionize your business and your life.
Imagine what it would be like if you could use your skills and talents to leverage things that you’ve already created, help other people, and make money as well.
Watch it today, and make the shifts you need:
It’s at www.LuckyBitch.com/Passive
It’s your time to take your business, life and income to the next level.
It’s your time and, guess what?
You’re ready for the next step.
Did you miss last weeks post? Check it out here: How To Deal With Fear, Insecurity, and Doubt In Your Business