The SMART Journey to Passive Income
Passive and residual income is possible generating automated Revenue where you don’t have to trade your time for money is in fact real. However it’s never going to happen unless you learn this framework that I’m about to share with you. This is the Smart entrepreneurs Journey this is an acronym and we’re going to go over this step by step. This is the road map to passive income. Passive income only happens here in the final step like I said so let’s start from the beginning with s. So what does s stand for it means start fast. The road map to success begins with starting fast not overthinking things not learning too much and getting in your own way or procrastinating. So okay that makes sense but what exactly are we deciding or doing in this first stage where you’re doing two things.
Number One Selecting a Niche
Number one you are selecting a niche or a market to Target and through that selection you are learning more about them. You’re understanding their pains their problems also their wants and dreams and desires so you can get in their mindset get in their head and understand what you could possibly do to serve them. I’ve gone much much deeper into market research and we’ll link to those in the description but again I’m just high level telling you the road map to passive income here. The second part inside of start fast is deciding on your digital stage now that you know who it is that you’re serving where are you going to call home and create content to become more of an authority a voice an expert in that space.
Deciding on Your Digital Stage
And don’t worry you don’t have to be the leading expert in order to help a lot of people and build something incredible we’ll get to that in just a second but you need to pick a platform whether it’s something on social or like a podcast or a YouTube channel and call that your home and show up consistently. These are your first steps you might not even know exactly what you’re going to be serving that audience with but when you select that audience always remember the riches are in the niches. So you can go Fairly narrow. I have a student of ours inside of the SPI Community who is a photographer but he’s not just a photographer he’s a bird photographer but he’s not just a bird photographer he’s a photographer who’s going to teach people how to film and photograph flying birds.
The Riches are in the Niches
So he’s a flying bird photographer seems pretty Niche and narrow right so you might be wondering and questioning well isn’t that too narrow. No because it’s giving him a specialization it cuts through all the noise and there’s no competitors in this space and in fact he’s going to be partnering with other people with larger platforms as a result. So that’s just a taste the riches are in the niches. Let’s move on m stands for marketing your message and on this platform that you choose this is where you show up and learn what gets people to move what gets them to tick what are they interested in what are they not interested in. This involves experimentation trial error as you build your brand and your personality online.
Marketing Your Message
A phrase I like to say here is you’ve got to be cringe before they binge. So this is a huge hurdle for a lot of entrepreneurs and often where they fail and stop. They don’t want to put themselves out there or they do a little too carefully they’re too afraid to put themselves into that content but here’s the truth. There’s so much information now what you are talking about is likely not anything super new or Innovative but what is new is that you are coming in at it. Nobody’s like you you have that huge Advantage so you might as well use it. Two things to help you out here number one make authoritative content right you’re not just regurgitating what other people have said but you’re using things like case studies.
Establishing Authority and Connection
You’re taking perhaps contrarian views with backed evidence to Showcase your position these all position you as an authority it’s connecting with other leaders in the space so this involves the second part of this which is to connect with people in your audience so you can learn even more about them and which messages and marketing positions are in fact making an impact and also other colleagues and other influencers and authorities in the space too. The big thing here is you want to position yourself as Daniel Priestley says a key person of influence not necessarily an influencer who’s like look at me look at all the things I’m doing. As Daniel Priestley says in his book key person of influence you talk as if look at this look at what I’m discovering here and here’s how it can help you.
Becoming a Key Person of Influence
That is becoming a key person of influence so in a space you’ll be more recommended more shared more the go-to Authority for a particular Niche that you’ve targeted. Let’s move on a attract your audience. Here’s what I like to say about the a or building your audience you’ve got to own what you’ve grown. As you on one or more platforms share your message build an audience there you got to realize that you don’t control those audiences and those algorithms can change at any moment in time. You have to own what you’ve grown which means bringing them over to your brand through something like an email list or a stand store or a website where you can have a little bit more control over their experience what they’re learning from you and go a little bit deeper with you.
Attract Your Audience
You’re going to use things like lead magnets to bring people over to your brand to subscribe for something that they get back in return and receive a quick win from you. Then through that email list that you’re building or other platform that you might have a little bit more control over you go and have conversations with your audience to learn more about specific problems that they need. I once shared a video called the 111 strategy that fits perfectly into here and that’s through this audience that you’ve attracted find one person who has one problem and give them one result. This does a few things for us number one it helps you learn how to find these people and communicate with them.
Number Two Working with Your Audience
Number two it helps you learn how to work with them and what they might be interested in getting your help with and number three when you get that result not only do you get a testimonial but you unlock that confidence that’s so key in you now putting yourself out there even more to become even more of an authority with backed evidence that what you’re talking about actually works. So if you don’t yet have that success story under your belt go do it find one one person get them a result. Yeah you’ll get a testimonial which is great for marketing but you’ll also gain the confidence that what you’re doing actually works and that confidence is just going to come across in your content and how you show up online elsewhere.
Generating Revenue
Next the r is where Revenue comes into play and here you need to select a business model. We teach launching early so pre-selling or pre-launching why because that helps you validate whether or not these things are actually things people would want to pay you for whether it’s something like an online course or coaching or Consulting whatever it might be. Again we’re not getting into the business models here we’ll have more of those videos later and there’s a lot in the catalog as well for you and on the podcast but for right now this is again finally where Revenue comes into play. It only can come and should come after all of the stuff we’ve already talked about right a lot of us start here this is where we get it wrong.
Launching Small to Grow Big
We’re building things we’re creating business models about people that we don’t even know about yet we don’t know exactly why they want to do this or what their ultimate outcomes and goals are. This is also where you launch with something like an MVP right you go small you start small to grow big and scale up again we’ll have more sales funnels and revealing how to generate Revenue in the future. Again this is just a high level view of how to get the passive income because passive income can only happen after active income gets started because the final step here like I said where the passive income finally comes into play is with t and with t we are getting our time back time comes back.
Getting Your Time Back
This is where passive income comes into play because through things like one tools so taking these things that you’ve systematized that now you know work they just need to work better or smoothly or without you you can Implement tools to automate a lot of that stuff. And secondly team if you still need a human interaction somewhere in this process for this business model that you are generating Revenue with well the question is does it have to be you. This is where a team can come into play a lot of people build agencies and have multiple team members to offer and deliver value to Their audience and the customers that they have so this is the pathway to passive income.
Optimization and Final Steps
It is through optimization but you cannot optimize what you have yet to get started with. So again taking us back to this first part here start fast. If you want to start fast we got the ways to do it in fact there is a free course that I could offer you right now you don’t need to pay anything it’s called smart from scratch. It’s going to help you nail your Niche find out who that target audience is it’s going to take you through the market research process and take you through this smart application so go to smartpassiveincome.com smmart to get access to that thank you so much. Read More
