The METHOD Step 1:
The first step in The Passive Project Method is ‘Create’.
Any successful business needs a rock solid foundation.
Even if you have been in business for a while, you might not have paid enough attention to developing the core of your online business. It is very important that you go through these foundational elements so that you know exactly who you are serving and how you are going to serve them.
What we are going to cover in Step 1:
Defining Your Specialty
The Big Picture of your Business
Recommended Order of Passive Income Streams
B2B versus B2C and why this might be important for your business
Defining your Niche and Target Audience
Validating your Idea(s)
Creating your First Passive Income Stream Product
Resources Pages for each Passive Income Stream Type (recommendations and how-to guides)
At the end of the ‘Create’ Module, it’ll be time for you to go off and get started on that first passive income stream product. We generally recommend an online course or membership (more on why in the lessons below).
Work on this at your own pace - it isn’t a race! Take the time to go through each and every lesson and happy creating!
The ‘Step 1’ Workbook:
Print out the Workbook for Step 1 and have it alongside you as you watch the lessons below. You’ll be able to record your notes and complete the required exercises as you watch!
Lesson: Defining Your Specialty
This lesson is all around identifying your specialty.
Ultimately at the core of every successful business is a problem. There is a problem that your audience struggles with, and you are there to help them solve it. Watch the video below to dig deeper into this.
Lesson: The Big Picture
Time to do some major big thinking and brainstorming about your business. Watch the lesson and then take some time to complete this in your workbook!
Lesson: Recommended Order of Passive Income Streams
There are a lot of potential passive income streams and ideas we can choose from to create our businesses.
smaller digital products;
physical products using a dropship strategy;
display ads (which I really only recommend once you have a highly trafficked website).
In this lesson I give you a sense of what order you should consider implementing these, in in order to grow your business the most efficiently and quickly.
Bonus Lesson: B2B vs B2C
What these terms mean, and how they might be an important distinction for you and your business. This is a quick but important ‘bonus’ lesson!
Lesson: Niche and Target Audience
Let’s deep dive into niche and target audience. I know, I know.. you’ve probably done all this before. But it’s actually something I revisit regularly with my own businesses and I believe everybody should do the same.
Have a listen to the lesson and don’t skip out on the corresponding work in your workbook.
Lesson: Validating Your Idea(s)
One of the things that is really important to do before we launch any new products is to validate them.
It’s a step that a lot of people miss. They think “oh, that seems like a good online course topic, I’ll do that” and then they spend months and months building out content that may not actually be sell-able.
So what I want you to do before you launch anything, is try out some validation techniques to help you understand whether your idea is a good one. Or to help you narrow down on one offer, if you are bouncing a few ideas around.
Lesson: Creating Your First Passive Income Stream
Now that you have come up with an idea and have validated it, it is time to start creating! Listen up to the lesson below to find out what I DON’T want you to do, and the important next steps you need to take.
Now to dive into the resource pages.
Below are the guides for each passive income stream that contain a lot of the more practical, how-to information. Warning - they are dense and text-heavy ;)
Don’t forget to hop into the Facebook Group and let us know what your focus is for your first passive income stream. We’d love to hear from you!