Whether you’re a life coach, massage therapist, reiki master, or yoga teacher… When you start your own Soulpreneur business adventure you, no longer have the security of a regular wage, holiday pay, sick pay or pension. You now trade your time for money to live, and if you’re not working you’re not earning.
This can not only be exhausting, it can cause great anxiety for present and future security, even effecting your health as it can often become increasingly difficult to take time off from your business when you’re sick or if you just want a holiday to practice a little self-care.
When I left my very safe and secure career in NHS health services, I let go of financial security in the way of full holiday pay for up to 6 weeks per year, sick pay for up to 6 months, and a fabulous pension!
Needless to say, building security and a passive and residual income stream in to my business as soon as possible was a top priority of mine, and I’m sure you feel the same.
The great news is it’s absolutely possible to make both passive and residual income as a life coach or holistic health and well-being coach or teacher…
Below are 5 of the quickest and easiest ways to get started generating Passive and Residual income into Your Business.
Have you ever dreamed of writing a book about your specialist service, your message to the world or your story? It’s so easy to write your book, or eBook today, get it edited professionally for a very reasonable cost and publish it yourself. There’re various ways you can do this from going to a publishing house, or simply uploading to Amazon and self-promoting yourself. It really is so accessible for budding authors today and a fabulous way to share your knowledge and message
- Become an influencer or an ambassador.
Holistic health and well-being, or spiritual health is big business right now, there’s a ton of brands and companies looking for low cost advertising. They understand the power of recommendation from an expert… this is the best marketing tactic and they’re always looking for brand ambassadors to help market their products for this reason. You may not always get direct financial payment but instead get free products, but this is still really helpful in reducing your own costs or even selling on what you don’t need.
- Create a Profitable Blog, Vlog or Podcast
The internet is a powerful tool to create a business that can generate income. Having an online blog, vlog or podcast with a lot of followers can be awesome because just like, ad space around your posts can be bought through Google.
Creating a successful blog, vlog or podcast takes time, dedication and consistency, but you can easily make an extra money each month once you have a decent following.
Show your expertise by creating an online course about a topic you are passionate about.
Online courses are a great way to show your leadership and authority in your field too, getting your message out there for people to hear.
Maybe it’s a meditation course or an exclusive mindset course, creating something like this can help you spread the word about you and your business.
Recommend a product you love and partner with a company whose vision you share. Network marketing
is one of the fastest growing ways to create passive and residual income as a life coach or holistic health and well-being teacher or coach. It’s the fastest growing business model for a very good reason, when you partner with the right company, and are in alignment and have the right mentor and compensation plan, and when you treat it like a business not a get rich quick scheme, it can be incredibly lucrative and a fabulous way to create both passive and residual income.
However, just like any business, it requires your time and a small investment to get started.
Network marketing companies often offer amazing products, so make sure you connect with the products they sell and above all the company’s values.
If you choose the right product, company, mentor and compensation plan, network marketing can be a fantastic extra income or even set you financially free, however it’s essential you get started right.
If you’re new to the idea of network marketing and want to learn the do’s and don’ts you can read my post here to make sure you know exactly what you need to do to ensure you have success.
You can also schedule a time to have a quick chat with me to see if essential oils and partnering with me as your mentor in building a networking business is the right fit for you to build residual income.