What is passive income? It is a form of income that keeps paying you after the initial effort to establish it is done. Unlike writing resumes, where you customize each document for each client, with passive income, you can create one single document and sell it over and over again.
The goal of passive income is to capitalize on what work you have already done. It frees you up to spend time with family and friends. It also allows you to make money while you sleep. (See the cute graphic designed by my husband, Jon, for the presentation.)
Passive Income Strategies
Here are just a few of the passive income strategies I'll be talking about in my presentation.
- Affiliate programs. You can have one -- or many -- affiliate programs that you promote. Many resume writers choose resume distribution services -- like ResumeSpider -- or reference checking services like Allison & Taylor. These are natural tie-ins with your existing services -- and you can market them to your existing clients!
- Write content. Sites like Constant-Content allow you to write articles that buyers can then purchase rights to use. They can buy "usage," "unique," or "full" rights. You can sell the same article several times.
- Advertising. This can be Google AdSense or another service where you promote other products and services through advertising on your site or blog and get paid per click or conversion. Choose a program that works best with your business.
- Create information products. Information products can include ebooks, special reports, tip sheets, manuals, home study courses, teleseminars and more. You create it once and sell it over and over again. (If you're interested in an easy way to create information products, check out Pass-Along Materials from BeAResumeWriter.com.)
If you like the ideas in this blog post and want to know more -- and you're planning on attending the NRWA conference in Charleston in a few weeks, check out my breakout session on Friday afternoon on "How to Create Passive Income and Recurring Revenue For Your Career Services Business."