Make money while you sleep

Do you want to make money while you sleep?

That's the promise of passive income.

And anyone who doesn't make as much money as they'd like selling their time is attracted to this promise.

According to Tim Ferris’ Four Hour Work Week passive income brings promise of freedom, adventure, ease and wealth.

But is this always the case.

Does pursuing a passive income model actually bring less you happiness because you then become a slave to click funnels and spreadsheets?

And, given your interest in pricing well, what does it take to find the right price for a passive income product?

On this episode of Waking Up To Money Ben and I covered a couple of core ideas.

Firstly, what's your intention for starting your business?

Is it purely about creating a passive income business?

If so, your only metric of success will be money and your focus will be about maximising passive revenue.

However, if your intention is to maximise impact then creating a  product or course that many people can get value from without the need for your time might be the best way to go. And so passive income could be your revenue model of choice.

But in this latter case you'll be focused on the impact and not just the income.

Pricing well is about understanding what your customers consider valuable.

This requires you to be in conversation with them. But this doesn't have to be just one-to-one.

This can be done at scale through your marketing. Particularly through social media.

Then the job of marketing isn't to just tell people that you have something to sell.

But to engage with people you want to work with and listen to what they think is valuable.

You can then set your price accordingly.

And to get to the right price you need to iterate by putting a price out there and then changing it (or your target audience or your offering) if no one is buying.