4 Good Reasons Why Passive Income Should Be on Your Radar in 2022

For entrepreneurs in 2022, the list of options for where to invest your energy and dollars is endless. 

Many of us get caught up in the notion of doing more instead of less. The bigger the business, the more you need, right? Wrong.

The simplest and most strategic investment for your business in 2022 is you –  your expertise, your experience, the value you bring to the table. 

Maybe you’ve scaled a successful product-based business, or leveraged a freelance gig to build a service-based empire. Regardless of what you do, your knowledge is valuable to others, and if you had unlimited capacity to give it away in spades, you’d be unstoppable. Wait – what if you did have it neatly organized and available for sale in a format that didn’t require anything extra from you?

Enter passive income – an active way to to scale your earnings without overcommitting, or extending yourself beyond your capacity limits. In clearer terms, online courses

To break it down, online courses are an easy way of making money while you sleep. Yep – while you sleep. Created once, and sold an unlimited amount of times, passive income via a course equals more time, more impact, and more money for you. Win, win, win. 

If you haven’t yet thought seriously about a passive income stream as a vehicle for business growth, here are 4 good reasons why you should be considering this strategy now. 

  1. Everything you need is already within you. 

So many people believe they need to be the absolute best and brightest to create an online course suite, but you are the best and brightest at serving your audience. The meat and potatoes of what goes into a course’s curriculum is already in your head. Let’s extract it, package it, and make you wish you had thought of it sooner ;) 

  1. Your potential is limitless. 

In the form of a digital product suite, your potential is limitless. Of course, there’s an upfront investment in the time and money it takes to create your course and get it off the ground, but once it’s done, you’ve got that output to sell and promote to your audience base forever. If you’re forward-looking, think stacked offers and varied levels of investment for different course offers so you can serve more people in a more impactful way. Limitless.   

  1. You can start small and build gradually. 

Just like a self-paced course, the rate at which you build out a course suite is totally up to you. Start small and focus on a core problem or skills gap your audience has, and help them bridge the gap through online learning. 

  1. You break the time for money trade-off. 

The time for money trade-off is the single biggest thing that contributes to entrepreneurs under-serving both their clients and themselves. Nobody goes into business with the vision of trading all their time for money. Everybody wants “the good life”, but if you’re too busy working to enjoy any of your hard earned dollars, what’s the point? 

A passive income stream is your ticket to creating greater freedoms both in your business and for yourself personally. It’s permission to live the life you envisioned while still serving your business as you always dreamed of. 

Still have questions? Let’s chat through it together. Book a free consultation with Rosewood today to learn more.