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Entrepreneurs on Fire
How to Scale to 7 Figures by Adding Semi-Passive Income Streams with Lisa Johnson: An EOFire Classic from 2021
Jul 28, 2023
29:30
Snipd AI
Lisa Johnson, helps business owners add semi-passive income streams to their lives. Topics covered include the importance of semi-passive and passive income streams, the value of making mistakes and learning from them, and the significance of building an audience early on. They also discuss the tax implications of winning on game shows and share options for adding semi-passive income streams to a business. Scaling to 7 figures with semi-passive income streams is explored, along with surrounding yourself with the right people and taking action.
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Quick takeaways
- Having a semi-passive or passive income stream is crucial for earning while managing other responsibilities.
- Building an audience early on is essential for successful creation and launch of a passive income stream.
Deep dives
The Cash System for Creating Semi-Passive Income
Lisa Johnson shares her Cash System for creating semi-passive income streams. The system consists of five steps: identify your target audience, grow and nurture your audience, establish the necessary systems and structures, implement effective launch strategies, and prioritize customer satisfaction. Lisa emphasizes the importance of having an audience before creating and selling a product or service. She advises against spending excessive time developing a product without validating its demand. Additionally, Lisa addresses common mindset challenges, reminding entrepreneurs that everyone has unique knowledge and expertise to offer. She encourages starting the journey to passive income by building an audience, ensuring a head start when launching a product.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode