Passive Income – How to work less and make more money

5th February 2024
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One of my favourite subjects and one that keeps me talking endlessly is the topic of passive income and how to earn more money while working less time. Isn’t that what we all want? 

I thought it was a myth. My dad would tell me the harder I worked the more money I would make. I quickly found out that you could work smarter rather than harder, which is what I do now in my business.

I was told at the beginning of my consulting business that to be successful I needed to get my client book filled. I knew I had a good work ethic and so I started a Facebook group in which I was going live every day and I was securing 1-1 clients. Within six months I made 100,000 pounds in profit, but I was working all of the hours that God sent.

Perception vs Reality Of My Own Business

The perception of my own business included me thinking I was going to spend loads of time with the kids, travel and nobody is going to make me come in and do things that I don’t want to do. The reality was I gave up my 9am-5pm to work 6am-11pm on my business. I enjoyed it and so it didn’t always feel like work until I realised that I wasn’t getting to spend that time with my family, I knew something had to change. 

This posed the question – how will I ever make more money and achieve the personal goals I had set for myself, especially with my twins? I needed to look for a different business model that supports the life I want more and at the same time scale my business. Nothing made this more clear to me than the day I forgot to pick my boys up from school.  I had been so busy working with my 1-1 clients I just forgot and I was so mortified. I went and picked them up and knew from that day going forward I was going to make that change. I didn’t know how I was going to do it but that’s what I was going to do.

Is Passive Income Just A Myth?

I was listening to a podcast about passive income and whether or not it was just a myth. As the podcast hosts debated the subject I found myself swaying towards the idea that passive income wasn’t that achievable. In my head when I thought about passive income streams, I thought that meant multi-level marketing, scams etc because that’s all I’ve known it to be. I started to look into different kinds of passive and semi-passive income streams and thought about which ones could work well for me.

I looked at drop shipping then I looked at affiliate marketing, I looked at stocks, bonds, property, memberships and courses and how that could work, online workshops and events, things that were just not passive but semi-passive. Over the next 8 months, I tried and tested adding these income streams into my business until it got to the point at which I was working a hell of a lot less but earning more.  

By the end of year 2, we sat down and had a look at how much I was earning and how much I was working and it was so different. If you looked at me at the end of year one, I earned a little bit extra because I put my prices up but I was also working 80 hours a week and that was too much.  At the end of year two I was working 30 hours a month, not even a week, a month. I had all this time back because I’d given up all of my 1-1 clients and instead I was doing all these passive income streams and I was earning over a million pounds in revenue.

Sharing That Passive Income Passion With Others

Now that passive income was working for me it was my passion. I saw lots of my clients who were doing the same as me in the beginning. They had started their businesses, began to struggle and were showing signs of severe burnout. I wanted to share with them that passive income is really about growing an asset or building an asset upfront. I always explain passive income using the spare room analogy. You have a room, you paint the room, you make the room look nice and that’s you building the asset. You market the room, and then you make money because a tenant goes in there and pays you every single month for living in that room. You don’t have to do anything else because you’ve already built the asset upfront. That is how a passive income stream works. You create it once and it keeps generating revenue for you.

Knowledge Is Power

The easiest type of passive income in my opinion is your knowledge because our knowledge is not common knowledge. You know things that others do not. This means you have something that you could have a passive income stream on. You could sell a course on it, have a membership or an online workshop, a group programme or an ebook that means you’re just getting your knowledge out in a way that people can buy it. 

Don’t listen to other coaches that say you have to orchestrate your passive income stream by having 1-1 clients or being an expert in something. I just found it to be completely untrue because we get to decide the business model we want for our business. After all, it’s our business. A lot of my clients come to me and want to do my courses because they get a mix. That’s why the name of my programme is “one to many” because it is literally about going from 1-1 to one to many and freeing up your time doing things that way.

The CASsH System And How It Works

I have a system which I trademarked called the “CASsH System” because I realised every time that I was helping people make passive income from things like courses or memberships I was doing the same thing. I was following the same steps that I had done in my own business and that’s what I teach them to do. 

This system is the best way to see if passive income is the right stream for you.

C – Client

You have to understand exactly who you want to serve and who you want to help. Maybe you haven’t thought about it until now but you need to know everything about that client. Your ideal client will tell you what they need and then you can create that for them knowing that they want to buy it.

A – Audience

Now you know who your client is, you then move on to growing an audience of those people somewhere you want, ie an email list, a Facebook group etc. You’re nurturing the audience, you’re giving them great value, you’re inspiring them and they are getting to know you through your personality. We all know people buy from people so grow an audience by showing them who you are. 

S – Systems & Structures

The next step is delivering what you want to deliver to that audience. Think about the structure and the systems that you’re going to use, the tech side of things that will hold your courses, that will host your membership, have a play with them and decide which ones are right for you.

S – Selling

Selling is the most important bit of the process. You need to know how to sell and launch your passive income product or service. This is the bit people get wrong. They built their audience but didn’t do enough to launch it. Maybe a few social media posts, but that’s not enough. 

H – Happiness

This means keeping your clients happy. You need the clients you have to rave about you by delivering them the results that you promised. The clients then go away and share the results with others who in turn want you to generate the same results for them.

The CASsH System allows you to start making passive income so you can start living the life that you want. I now travel with my kids and I have a business that’s scalable because it doesn’t matter about my time. I can put more people into a course, I can put more people into my membership and my programmes. The work is already done.

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