Passive Income |

Licensing your tips is like renting out your information. You still own it, and someone pays you to use it for a certain period of time in a certain way. There are ideas right in front of you to make money from your tips that are in your articles you give away, ways that you may have had no reason to consider

Are you a tea drinker? Have you ever looked at the tag on the end of the string of that tea bag? Some companies put quotes on those tags. They could just as easily put one of your tips, or a whole lot of your tips over time. And pay you for the right to use those tips.

How about Chinese fortune cookies? Remember the last time you cracked one open to see what your fortune would be? The fortunes inside those cookies can easily be customized to each be a tip for living a better, and sold by an advertising specialty company to businesses who want to give out something different to be memorable.

Do you have 365 tips on how to save time or how to exercise at your desk or, or, or? You can license those to a corporation to drip a daily tip by email into their employees’ Inbox or out to the company’s mailing list as a way to stay in touch with their clients and prospects. Some professional associations already do that with their members. The tips are pre-programmed so there is no “heavy lifting” for anyone.

And you recycle your content and make money from it. You probably thought of some other directions to go, too. And you’ll no doubt be more aware of opportunities than you were before reading this!

Your trusty guide,

Paulette

www.tipsbooklets.com – main

www.tipsproducts.com – blog

www.CollectionOfExperts.com – co-authoring

Many people who trade time for dollars as an employee, a consultant, a coach, or other primarily service provider longingly talk about wanting to create passive income — money that is earned while sleeping rather than money that is earned from showing up someplace at a certain time.

In making the transition from trading time for dollars, it quickly becomes apparent that there is nothing passive about selling products, no matter what sales and marketing methods you utilize. It takes time — somebody’s time, whether it’s yours or someone you hire. And if you hire someone, it takes your time to interact with them to train them, to evaluate how things are going, and make course corrections. Yes, there is heavy lifting on the front end to set up the marketing and follow up with the sales. Nope, nothing passive about any of that.

So while the sense of freedom from scheduling looks appealing, it is not, in fact, passive. No more commuting on a busy highway, train, or airplanes. No more boss placing unreasonable demands. Agreed.

The bigger and better thing, though, is to create income that repeats itself with as little effort on your part as possible. That’s the ideal combination. Some ways to do that:

1. License your tips content to a company for a certain time span for their promotional use, on a renewable basis. They may want to drip a tip on their mailing list each week, for instance.

2. Have choices of content for that same company to use so they can have a quarterly campaign with different content. They license one set of tips for the first quarter of the year, a different set of content for the second quarter, another for the third quarter, and yet another for the fourth quarter.

3. Create your content in different formats. The same quarterly idea can apply, just with different formats like a booklet, an audio file, just tips, and some interactive format.

By having these choices, you can create a year-long arrangement that can be automated delivery from you and have a renewable element in it to provide you recurring revenue. These suggestions are to get you thinking of the endless additional ways you can craft your business to provide you both passive and recurring revenue, the ideal combination.

Let’s explore specifics for your company. Feel free to share your suggestions here in the “Reply” section below.

Your trusty guide,

Paulette

Category Archives: Passive Income

3 Ways to License Your Currently Free Tips

Passive Income, Recurring Income, or Both