Part 4: How to Pivot When Passive Income Isn't HappeningDec 27, 2021
So this is an unpopular reality, but creating a learning offer doesn't equal generating passive income. There's a lot more that goes into it than that!
But a learning offer does make your thought leadership accessible, available, and useful to people. And a learning offer can lead to passive income when you have the right business model and the right sales set up — to get there you may need to pivot your learning offer.
Let's unpack that.
Why isn't your learning offer generating passive income?
There's so many businesses that seem like perfect examples of passive income: rental properties, vending machines, ice machines, RV parks, car washes, and the list goes on. All of these business have the opportunity for passive income but only if you have set up the people and system that keep them running without your involvement.
Learning offers are exactly the same way. They can be wonderful sources of recurring revenue but only if you set up the people and systems to do so effectively. Passive income requires activation.
For a learning offer, these activation systems can look like an evergreen sales funnel where you have someone else manage the marketing and the client experience. It can look like licensing your content and letting others facilitate the delivery. It can look like teaching others how to facilitate the delivery and leading those individuals. The list goes on.
Digital courses seem like the trendy way to generate passive income, but they aren't the best fit for everyone. And they may not be the best fit for you.
How can you pivot your learning offer?
In-the-box thinking isn't going to get you the results you want. If you want to generate passive income in a way that works for you and works for your audience, you will have to pivot, shift, and maybe even bring in expert help.
For some people, you're stuck on mindest obstacles. Other people may be stuck thinking they only have one business model to choose from.
But you can address your mindset and still be stuck. You can explore different business models and still be stuck. You can get stuck on something you don't even realize is an issue. Is it a technology delivery issue? Is it a learning product content issue? Is is a sales funnel issue? Or is it a mixture of small issues throughout?
That's where an expert comes in to help you evaluate, identify the issues, and work through the pivot process together. And that's what we're focusing on with this mini-series.
Need advice from a learning strategist? Schedule a free discovery call today with Manja Horner, Founder of Boost Learning Design today to talk about your dream project.
We will Audit your existing learning and can help build your dream learning product. The longer you wait, the longer it takes to get that new learning product to market. So connect now for a call.
Test your own capabilities as a learning designer by taking the Course Creator Quiz
And, get mega organized in your business with the Complete Business Productivity Notion Templates.
We are accepting podcast applications for the new year. Apply Here
We love to hear from our community.
Let's talk about your course, program or learning offer.
Stay connected with news and updates!
Join our mailing list to receive the latest news and updates from our team.
Don't worry, your information will not be shared.
We hate SPAM. We will never sell your information, for any reason.