Creating Passive Income Streams: Monetizing Old Content [Ep. 228]

Michelle (: 00:00

Hello, hello, my friends and visionaries. Welcome back to another episode of the real truth about business. The show dedicated to helping small business owners and solopreneurs like you build a sustainable and profitable business with the real and honest straight truth about what it takes to do that. Um, I'm your host Michelle DeNio and I am so excited to dive into today's episode on passive reselling of old passive income.

So let's just start with passive income. It's a buzzword in a lot of business owners minds in the noise of the space, whether you're in the online, whether you're an online service provider, or whether you have a local business or something that deals a little bit more broad than just online service, passive income, right? It's something we're all striving for. It's something we all want.

And obviously it's a great way to scale your business. It's a great way to increase revenue. However, I want to give you the disclaimer that nothing is really truly passive. Okay. Um, everything requires some level of work. There is some level administrative time. There's some level of expense behind passive income. So, you know, these people that talk about how they wake up to, you know,

There's striped notifications going off while they're sleeping or while they're on their phone, you know, they're on vacation and all this crap and you know, they're getting these striped notifications. Trust me when I tell you they've got things working behind the scenes, whether that's ads or staff or VA's or something, or they've done a bunch of, they've got emails going out or whatever content, et cetera. They've got something, there's skin in the game. There is an expense associated with passive income.

So what I want to talk about though today is how can you use the content you already have to create an additional revenue stream passively in a sense passively. And this keeps coming up on, I was talking about it and thinking about it for myself and my own business and also in the mastermind, it was brought up of like, what should I do with this or how can I promote this or how can I capitalize on this? And I want to encourage you to use some of your old content.

Michelle (: 02:18

and start selling it, okay? You don't always have to create new. So I'll give you an example, a personal example. I ran a, last year, I don't remember, I don't know if you guys, depending on how long you've been listening to the show, you may or may not remember, I ran a, it was called the One -to -One Profit Accelerator, which I've since changed the name as the Rapid Fire Formula, which basically is a workshop that teaches how to create that boxer style coaching.

And I've been wanting to teach it again. And I have the workshop. I've done all the work. I did the slide deck. I did all the things and I've been wanting to teach it again. But like, I just don't have the capacity. I didn't want to launch it. I don't want to do all the things. I haven't wanted to re record it. And somebody actually purchased it not too long ago. I can't remember. Somebody asked me about it and I said, you know what, I didn't re record it. But if you want the replays, I'm happy to send that to you and you can buy that. And they loved it.

And I actually did this with the Focus Visionary, the five day kickoff as well. Somebody purchased it and then we ended up working one -to -one and she loved it, the replays. And so I wanted to encourage you, if you've done a masterclass, if you've done a webinar, if you've done a workshop, if you've done something that was a paid offer one time, or even maybe it was free and you have it, you can literally sell the replays, okay? You could start making an income right now.

by simply selling the replay. And I know a lot of you think like, oh yeah, but if I'm gonna sell it as a course or a program and it's gonna be DIY, I probably should rerecord it, it should be professional, and it shouldn't be on Zoom and yada, yada, yada. Here's the thing I want you to understand about the replays and what's so powerful about them and why I'm telling you to do this is because a lot of times when you are teaching a workshop, a lot of the actual like,

best information that comes out of it is in the questions that people that were in attendance live were asking. And if you go and you do this, I will promise you like people will say like, Oh, I loved hearing other people's perspectives. When I had a client going through the focus visionary replay, she was like, it was so nice to hear other people's questions, things I wouldn't have thought of. Right. And again, they're not everything that you can't plan for every question that's going to come your way when you're rerecording.

Michelle (: 04:39

you know, something for a DIY or for a course or something like that. So the replay actually adds value to the person buying it because they're getting that perspective. They're getting that kind of live feedback from other people that are asking the questions that they may not be thinking about. So I really, really encourage you to go through. Did you have you taught a workshop one time? How many of us have done something we've created at one time? It could be even something that you created to do as a guest expert spot.

in somebody else's group, if you've done any guest speaking, if you've done any guest teaching, have you done any type of webinar or masterclass that you could literally sell and put on your website? And so one of the ways to create this more passive income is to create something of that and then you can add it to every email that you send out, like, oh, by the way, if you're struggling with this, here, you can buy this link to whatever.

So again, it could be something kind of automatic where people can click the link. It could be in the link in your bios. It can be on your website. You can have a whole page dedicated on your website to like DIY purchases, you know, DIY courses or resources, masterclass, whatever you want to call it, where people can kind of binge and buy. It's that binge and buy marketplace style where like you have multiple different things and they're low priced and you not.

not terribly low, depending on your business model. Again, everybody's business model is different, but you can just not have to redo it. And that's what I want you to think about here. And that's what's most important is like, it does not have to be perfect. Okay. The best part about passive income or one of the easiest ways to make passive income is to not have to redo it. Right. So if you've already done it one time, you've already done the work, you've already created the slide deck, you've already put the time into it. You've already taught it.

You already have the worksheets, et cetera, like the rapid fire framework or rapid fire formula. I think I called it. That's done. Like what a waste to have it sitting there waiting for me to launch it again when other people could literally be buying that, which by the way, if you want to add a rapid fire program onto your coaching or in any, if you're a service provider and you don't have some rapid form, uh, some form of like rapid fire or Voxer, some people call it voice or texting.

Michelle (: 06:58

If you don't have that to me as one of the best passive incomes, because you literally can do it from anywhere. I'm going to put the link where you can purchase the replay to the workshop with the worksheets that will walk you through how to set up this offer from soup to nuts, including all of your onboarding and everything, right? Like what a waste that I already did that and I only taught it once. That's crazy that I've done that. So I am going to get this out so that people.

can purchase it, there's no reason why I should not have that available for purchase, right? And I know you have workshops and master classes or it could even be eBooks, it could be courses, it could be things that you've put together for other clients. Have you put together templates for other clients? Not obviously specific to their business, but like could you sell that? That's where passive income comes in. Now, here's the caveat. Again, it still needs to be promoted.

Just because I put it on my website and I tell people they can buy the rapid fire formula, um, replays or the, you know, the actual workshop does not mean it's going to automatically, people are just going to magically find it and start. You still have to promote it. Right. And this is my biggest thing with passive is like, people think, Oh, okay. I made it available for purchase, but it's not selling. You still have to promote it. All right. So you still have to let people know it exists. And again, you don't want to get derailed with.

what else you're promoting, right? So that's where I say it's a great way, maybe as a pop -up, I know people hate pop -ups, but guess what they work, to do something like that. If you have Pinterest, it's a great way to put it on Pinterest. If you have, that's like a great option for Pinterest. If you have a blog, you could put it as a, you know, a link on your blog post. You know, there's ways like that where you're still continuing to promote it, where people might land on your website for one thing and then, oh, they find this and that's how they can, that's,

that's more passive. But again, you're still promoting something. You're still driving traffic to you, whether it's your content, whether it's your link tree, you still have to drive the traffic to it, but you can maybe capitalize on it by having it there and people can just find it because you know, people get click happy, they get snooping around, they get down these rabbit holes and you just never know when somebody is gonna want something or.

Michelle (: 09:16

You know, and then the other thing that you can do is if you have programs like this, if you can put an affiliate program behind it where other people are selling it for you, especially if it makes sense, like for other coaches that don't necessarily want to teach that style of offer, I could give them an affiliate link very easily and tell them, hey, you can, you know, if it makes sense, share this with your audience. And that is passive, right? So that's the beautiful thing about creating some type of product in your business.

is that then you can create an affiliate income and it's much easier for people to refer because there's no introduction needed. They don't have to, you know, it's not like one -to -one or a service provider, something of that sort. They can literally just say, hey, go buy this, right? Like that is a great way to bring in passive income. So you look back through, I mean, there's so many ways to create passive income and I could talk about all the different ways, but this one, I'm gonna keep this episode short because I just wanted to...

put it out there. Like if you're looking for cash injection sales, like these, this would be something I would consider like a back pocket cash injection offer. You have it, it's available. Maybe you promote it once a month, you know, maybe you promote it once a quarter, maybe you promote it at the footer of all your emails and like a PS, something of that sort where it's just, it's something you've already done.

It's something you've already done. And then maybe every month you kind of add something new to it or every quarter you add something new and maybe you send it out, right? It's just another way to, to stay in touch with your clients. Oh, by the way, you may have missed this. I'm not running it again live, but you can buy the replay or you can buy the workshop here. You don't even have to tell people that it's a replay. Um, I don't even think that that's necessary, but I'm telling you the replay is powerful because that's where the questions get answered.

Right. And so it also opens up their mind to think. And then it would, most of the time, what I have seen is that it encourages people to reach back out to you and say, Hey, so -and -so asked this question in the workshop. I loved it. I have a question for you as well. Do you mind? Right. So now there's potential there to sell or upsell them. And speaking of upsell, like you can have the upsell right there on the page, right? Like buy the workshop and a one -to -one with me, um, buy the workshop and.

Michelle (: 11:32

a free one hour strategy call, right? And bundle it together and give them a discount on it, something of that sort. So there's so many ways that you can do this. Again, I don't want it to derail you from your main offer or whatever your focus is because, you know, go back to my episode about tanking my income. You know, when you start promoting something low cost, especially if you don't have big numbers, remember low cost requires high quantity. So if you're not looking...

And you don't have like a high quantity of people that you can sell this to do not stop promoting your higher ticket offer, but you could also use this to the other beautiful thing about having something like this or read, you know, having an available to sell is if somebody can't work with you right now, one to one, um, they can, they can buy this, you can offer this as a down sell, right? So maybe their budget doesn't afford, they can't really afford you right now, but you could say, you know what, why don't you buy this?

and get started with this. And then when the time is right, we can do this one to one. Which actually I love when I have these ideas. I just, I have somebody in my inbox right now that I might actually do that too. You know, so again, that's the thing about having these think outside the box a little bit is like, you don't have to complicate. You don't have to create more. You have all of this knowledge. You've already done all the things you've already created. How can you repackage it? Maybe you

package like three master classes together and sell it as a bundle. And again, they could be replays. Maybe it was, who cares even if it was a free replay, if it was a free replay and they missed it, sell it to them, right? Sell at low costs, even if you sell it for 20 bucks, less than 20 bucks, right? That's passive income because you've already done it. It's just capitalizing on the time spent that you took to actually create the thing, share it live. People aren't gonna go hunting.

for some free live, like people's time means more to them than a lot of things. So who, how many people, how many of you actually were like, oh, I meant to hit their live and I forgot, you know, I don't want to pay for it. I'm going to go search for it, right? Like most people don't have the time or the wherewithal to actually go searching for something that was free. They can be like, well, for 20 bucks, it's going to land in my inbox and I can watch it on 2X speed.

Michelle (: 13:51

Yippee, right? Like they would much rather watch it on one and a half to two X speed and have it in their inbox where they can easily find it than have to go searching for it. So again, take some of this mindset stuff out of the equation because it's all just bullshit in your head. It's all just stories you're making up in your head. You can literally sell anything that you want to sell. If you feel confident in it and you feel good about it and you know, like, damn, I did a great job with that workshop, then freaking sell it, you know?

If you already have the replays and everything else, just sell it, just sell it. That is a way that you can kind of increase your income. You can use it as bonuses, right? If it is a sellable product, you can then add it as like a bonus on to your one -to -one offers. There's so many things that you can do with your past content. And that's the point of this episode today. So go take action. And what I want you to do is when you're done listening to this episode, I want you to email me, Michelle.

at michelle .denio .com. I'm going to put the link in the show notes in case you don't remember it. Um, and I want you to send me a link to a past product or email me and let me know like, what is your past product that you are going to start selling? I know you have something, even if it's a $20 offer, it could be $20. It could be 200, like the rapid fire workshop, probably going to sell that for like $97 or 149.

Probably maybe a 140, I don't even know. By the time this episode's come out, the link will be in the show notes and you'll be able to check it out if you want just to see how I do it. But again, I want you to tell me, take action on this. Don't just think about it because again, this is a fast action. This is something you can take action with right now. You literally have to create a payment link which you can do in your email provider if you have ConvertKit or MedlarLite or you use Stripe.

You can create a Stripe payment link. You can create a landing page and it could literally be a link to a Google Drive. You do not have to have an LMS platform. You do not have to have Kajabi or Thinkific or Teachable or anything like that. One of the replays I sold was literally in Google Drive and the other thing she said to me is I loved how simple it was. I loved that I could just access the drive file and everything was right there. Don't over complicate everything. Yes, there is a time and place for

Michelle (: 16:18

these platforms and professionalism and all of that. I'm not saying that, but I personally, like send me a Google, I love Google Drive. I don't, a lot of people have trouble navigating these really complex platforms. And so then the second they have trouble or they can't remember their password or they don't remember how to log in or they don't remember the link, then they don't use it anyways. So keep it simple. If you have a replay, whether it's unlisted on YouTube or whether it's uploaded into a private Google Drive file,

You can create a quick landing page with a payment button, collect the payment, put an automation behind it that sends the link to the replay. And that's it. So simple, so easy. You can get this done, um, in an hour, in an hour, you could literally get this done. Okay. So go take action and go find something that you can create passive income with that you've already done and go sell that knowledge.

Sell that knowledge. Okay? I love you. I believe in you. I'll talk to you later.