income working


the marketing) as well as money (any software you might need, the selling platform you use etc). But Holden says that if you do your market research and


create the right product – and one that’s evergreen – you could potentially reap the financial rewards for long after you put in the initial work. She advises: “There’s a lot of noise online and everyone seems to be selling a course, an ebook or a downloadable guide. Ensuring you have a good point of difference is probably the most challenging element of the passive income process – alongside pricing your products correctly, of course. “While one person might think a £5–£10 for a


downloadable guide is too steep, another might be chuffed to bits that they’ve paid £50 and thereby saved hundreds by learning how to do something themselves as opposed to paying a professional to do it for them.” Byrne says that pricing is tricky. Price too high and you


might put people off. Price too low and they will not see the value. She advises finding out about who you are selling to, and where they are in terms of affordability and disposable income. And, while ebooks can create passive income, this is not


always the case with traditional books. Clio Wood is a women’s health advocate and freelance


journalist who has written for The Telegraph, the i paper and Grazia. She is also the author of Get Your Mojo Back: Sex, Pleasure and Intimacy After Birth. Wood says that while being a published author offers kudos and great opportunities such as brand partnerships, having a book is not all that passive in terms of income. She explains: “Once you have your book, you don’t have to


produce it again. But you do still have to keep selling it all the time. As well as social media, I use my newsletter and go on podcasts. “My top advice would be to not underestimate the


marketing you’ll need for a passive income stream, and don’t imagine it’s going to be the ticket to solving everything – it’s still a lot of work to create the product.”


Begin with the buyers When planning which product to create, start with your audience. Byrne says: “If you already have a following on social media, you already have an audience of readers, which will save time on marketing. Think: ‘How can I best help them?’ What can you give them that’s going to be a no-brainer for them to buy? What topics can you write about forever and keep them engaged? “Also, think about which outfit to sell your product in – a


subscription model, ebook, set of templates or course? That outfit has to fit the audience that’s buying it. For example, if you’re creating a course for busy commuters, they don’t have time to sit and read a course. They might have 10 minutes on


MICHEL STREICH Legal


essentials Clare Veal is a freelance solicitor and founder of Aubergine Legal, which specialises in commercial issues. She has the following advice on selling passive content on websites


• Intellectual property: Make sure you include a copyright legend on your content and be ready to prove the date you created the work (in case someone tries to copy you).


• Data protection: Comply with the UK’s data protection laws (UK GDPR) when collecting, using or storing data from customers. This includes having a privacy policy and registering with the Information Commissioner’s Office.


• Check your terms: Provide clear information about your products, appropriate disclaimers, your company details and a refund policy/ cooling-off period for buyers (although this sometimes isn’t applicable for downloadable products).


More information: 9 Legal Tips for Selling Online Courses: www. auberginelegal. co.uk/post/ selling-online- courses


the train. So, redirect it into their ear. Make sure it’s done in a way they can absorb or it’s never going to sell.” Selling platforms for beginners include Etsy and SendOwl. com, plus there’s Thinkific, Teachable and Podia. Byrne adds: “If you’re having to actively post on social media every time you want to sell your digital product, it’s not passive. Use blogging and SEO along with a landing page, then invest funds from it into advertising. This very quickly creates a funnel that funds itself.”


Test the water Griffiths says that only one per cent of people buy from you in the online world on average, so the bigger the (right) audience, the more likely you are to sell. Take every opportunity to shout about your product – even before you create it. Donna Eade is a podcast host, producer and consultant who


has created a three-part training course to help people launch their podcast (https://donnaeade.com). She says: “Before you put any work into creating a course, talk about it, float the idea and do a pre-sale. If you can get 5–10 people to buy before it’s created, then you’re onto a winner. And you’ve also given yourself the motivation to get on and create it.”


theJournalist | 19


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32