You desperately want to earn a passive income with your own digital product because you know that having a passive cash-flow can solve a lot of problems for you.
Problems such as:
- Not having an income coming in when you’re on vacation.
- Not having an income coming in when you’re poorly.
- Not having an income coming in when you have ‘meh’ days.
- Not being able to spend more time with your kids and family.
- You want to cut back on your 1-on-1 client work.
- You want to cut back on providing your service for clients.
- You want to earn more with your blog but with less traffic.
Whatever your reason is for wanting a passive income, you now find yourself with a new problem, and that is…
You keep putting off creating your passive income
… and this frustrates you
I find this is a big shame because it’s relatively easy to create a few simple digital products to add multiple income streams to your blog and/or current business. Add automation to that, and you’ve just created a passive income stream – how amazing is that!
That’s why I encourage you to take advantage of the Internet and all those amazing, cool automation apps and tools!
If you’re still on the fence, ask yourself:
“How would I benefit from having a passive income stream in my business right now?”
When you sit down and really think about the benefits of having a passive income in your business, this will give you inspiration, motivation and drive to actually get around to creating that digital product!
8 Things a Passive Income Can Do for You and Your Business
Anyway in response to this, as someone who’s been creating digital products since 2007, I’ve identified eleven reasons why you, you amazing female entrepreneur, keep putting off creating your master-piece, and I’ve followed each one with little handy tips to help you overcome these obstacles.
So let’s get started…
Procrastination means ‘to keep putting off doing something‘ and this generally means that you don’t want to do it!
Now this may not be at a ‘conscious’ level, in fact its probably at your subconscious level, meaning that you’re unaware of why you’re procrastinating. Either way, somewhere in your brain its telling you that it just won’t start the task of creating your digital product.
What To Do About It: Try and find out exactly why you’re procrastinating. Sit down and really think ‘why do you not want to do this’, ‘what’s holding you back?’.
…the answers could be one or more of the following…
2) Fear of the Unknown
You’re delving into new territory and naturally it scares you – this is perfectly normal. In fact, you would be quite in-human if you weren’t a little nervous about starting something alien to you.
But this is more than a little nervous anxiety. It’s actually preventing you from doing what you want to do – and this isn’t great as this ‘fear’ is holding you back both personally and financially.
What To Do About It: Learn the basic steps of what you need to do to get your digital product created so it doesn’t seem so ‘alien’ to you. Just learn the basics at this stage and then start planning the very first steps you need to take. And then take one baby-step at a time.
Case Studies: Female Entrepreneurs Rocking Passive Income
3) Information Overload
On the contrary of the above, you’ve read a lot about creating digital products and passive income from various Facebook groups, blogs, webinars etc., but now you’re suffering from information overload because you’ve soaked in so much knowledge that your bandwidth hurts!
This is so predictable and typical of the internet as it’s a fantastic source of information, but its also so easy to keep on reading and overload yourself with the same information but just packaged in different ways.
What To Do About It: Take a step back from all the information you’ve saved, downloaded and just generally consumed. Don’t go near it for a day or two.
In the meantime, take a look at a simple-step-by-step plan on how to create a digital product, and then methodically put the information you’ve gathered into sections of your step-by-step plan and just scrap any irrelevant and/or duplicate information you have.
At the least, this is a start and a fresh perspective in your mind!
4) You Don’t Have Enough Time
I think we can all relate to this one. There just never seems to be enough hours in the day when it comes to running an online business, no matter what type of business model you run.
What To Do About It: Prioritize. If you really want to scope your business and leverage your income with passive income via a digital product, then you must set some time aside each day to work on this.
I know it’s easier said than done, but try and make a daily habit of scheduling in even 30 minutes to work on the passive income side of your business.
I promise you, you will reap the rewards (passively) for months and years to come!
5) Fear of Launches
This is me and it’s a real thing! But I promise you that you don’t have to do the big, spectacular, in-your-face type of launches that you see some other folk do (if you don’t want to that is).
What To Do About It: Do soft launches such as simply emailing your list to let them know about the release of your new ebook / course, or whatever digital product you will create.
Write a blog post about the benefits of your new digital product and then link to the sales page within the post. Then promote that blog post on Pinterest, Facebook, LinkedIn etc.
See, that’s not scary is it!
6) Too Many Ideas Bouncing Around In Your Head
The more information you learn Online, the more ideas you will have bouncing around in your head. You’re not alone, we’re all in the same boat. The trick is how you ‘manage’ these ideas.
What To Do About It: Do a ‘brain dump’ and put all of your ideas onto paper and sort them into different topics. You can then methodically see where you need to focus on first whilst keeping in mind the best interests of your customers/clients and how to serve them best.
7) You Literally Don’t Know Where To Start
You know that you want to earn a passive income and you need to create a digital product, but you just literally don’t know where to start.
This is a typical response when starting something new.
What To Do About It: I’ll give you a quick overview here of the 7 steps to take to create multiple passive income streams:
Step 1: Find Your Product Topic Idea
Step 2: Creating Your Digital Product
Step 3: Setting Up Sales Processes
Step 4: All Things Lead Magnets
Step 5: Automated Email Marketing
Step 6: Digital Marketing Techniques
Step 7: Digital Product Suite & Business Goals Mapping
8) Fear of Your Product Not Being Good Enough
This obstacle comes in two-fold.
#1 You’re having self-doubts about yourself and what you have to offer to potential customers, and
#2 Your probably ‘guessing’ what your product should be.
What To Do About It: Make sure you know (for certain) the problems and pains of your target market, then create a product around those. Then validate your idea to make sure its going to sell, before you even start creating your product.
9) You Lack Knowledge In This Area
There’s a lot of information Online about creating digital products, automation and passive income but sometimes it can be hard to find, or you’re coming across the wrong kind of information which is mediocre and you’re not learning anything new.
What To Do About It: Learn the steps you need to take in a methodical order from someone who has already done this (ahem – me!)
#1 Read the articles on all things passive income.
#2 Look at these case studies of successful female entrepreneurs already rocking passive income.
#3 Watch my free workshop on finding your ideal digital product topic idea.
10) Marketing & Visibility
This goes along with the fear of launches as above, but it’s a more ongoing marketing approach which you’re not sure of. You feel as if you should do different marketing strategies for the different types of digital products there is but you don’t know which marketing technique lends itself best towards a certain digital product.
What To Do About It: Understand what works best for you, your brand and your target audience and focus on that.
The 6 Main Digital Marketing Techniques
For example, if you’re shy and very uncomfortable on video, then do more written content marketing in the form of blog posts and social media posts. Then create pin images for your blog posts for Pinterest.
Hint: Putting together a passive traffic strategy is part of my passive income system which I go over in my free workshop.
11) The Technical Stuff Is So Complicated!
Is this probably the no. #1 reason why so many female entrepreneurs don’t bother to get started on creating a digital product, and I totally understand this.
I’m not a very technical person myself, I’d much rather create pretty Pinterest pins than mess around with the likes of sales funnels and shopping carts, but the technical aspect of creating passive income streams is a necessity.
I have since conquered most things technical, at least to the level to get me moving along.
These are some of the things that you’re probably not sure of and are holding you back:
- Automatic delivery of your product
- Shopping Carts
- Sales Pages
- Email Autoresponders
- Sales Funnels
What To Do About It: Don’t fret about the tech side of things to let it put you off with your digital product creation:
1) Keep your end goal in mind ~ passive income to reach your income and lifestyle goals!
2) Know that there are automated tools and services which do most things for you with minimal set-up from you.
3) Just concentrate and focus on one stage at a time.
4) You can always get help and advice from appropriate Facebook Groups.
Over To You…
Are you procrastinating at creating digital products for passive income?
If so, do any of the above resonate with you?
Can you identify any other reasons of what is holding you back?
But there’s no need to procrastinate any more my friend. Start your passive income journey today – in fact now, this very minute – by watching my free workshop…
Claire is a work from home mother to two teenage sons. Claire has been creating passive income with digital products & automation since 2007 when she created her first ebook. Claire now helps other women create passive income cash-flows.