I am creating two more streams of income ..
- ektalakhera1
- Aug 7, 2023
- 3 min read
I have been working, for the past month; on two projects which by my estimation, will positively add to my income. Since I am still in the development stage, these projects will take a few more months to be live for my audience to engage with. I wanted to share the truth about passive income generation, how I am going about it and how you can do it too.
The best part about passive income is you only have to do it once and then you can sit and reap benefits. That being said there are a lot of things that need consideration before you can start counting your chicks.
What I am up to?
I have been an absolute book nerd since I was in middle school and recently it has dawned on me that all the information that I have in my brain needs to be organised, written down and offered to other people where it can become more than just information. I am a teacher by trade and keeping knowledge to myself is no less than a crime.
As I started on LinkedIn as a creator making content on what I love the most i.e. 'reading', an idea began to formulate. I had all this knowledge about reading not only as an avid reader of more than a decade but as an engineering student who had to go through scientific readings and then again as an educator who is trained in learning through reading. All of these experiences could be used as an excellent repository for someone who was struggling with this skill, or just anyone who wants to improve their proficiency.
I have decided to write an e-book and author a course on reading. The e-book and course content will be similar but not exact. The course will be much more thorough and include assessments to make you practice the skill, consider it a form of master class.
These two will be made available to my audience as well as the broader public on platforms like SkillShare, LinkedIn and my own website soon. These two will be available for everyone and anyone who wants to learn free of cost for one year, after which I plan to charge a minimal cost.
The reality of money making
The truth is I won't make money through these products, till I grow my audience sufficiently. Marketing is also a very important part of product creation. The quality of the product goes a long way but marketing does fill the gap wherever needed.
Creating courses and books takes time, patience, research and lots of hours. If you have a full-time job like me, you will need bulletproof scheduling or you will find yourself burning the midnight oil and motivation can only take you so far.
I am creating my e-book on Canva which has tons of loaded e-book templates. Now that really eases a lot of design work and allows you to focus on making the content shine.
Creating a course is whole another ball game.
I have been on track to learn course authoring tools like Articulate Storyline 360 for creating my course. Not everyone needs to learn self-authoring, courses can also be created directly on may platforms. tools aside you need to first figure out how you are going to present the course to your learners, create a storyboard and choose the ways you're going to engage learner's of various kinds and retain their interest through the course.
Making money passively is not as easy as some internet gurus can make it sound. For me, fast marketing and quick products can get you an audience but can it keep them invested?
Yet again, I'll find that out. I'm sure on this learning journey there is so much I don't know yet but surely I'll let you in all my stumbles so that you can avoid that hurdle on your own journey!
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