Guest Post // This is How Millionaires Actually Make Money in Their Sleep
Many of you may be wondering how I have time to dedicate to my online boutique, my blog, and my business coaching.
The truth is I don't.
I knew this a few months ago when I started The Danyelle Agency.
This is why I turned my online boutique into a passive income stream.
Before you get too excited, you should know that just because you have created a passive income stream, that does not give you the okay to be lazy.
In fact, this means the exact opposite. Creating passive income means that you have intentionally created systems that will you, the business owner, to focus on other things like growing your company or starting new business ventures.
These things are essential to long term success and I have dedicated an entire lesson in the Boss Babe Business corse to show you how to actually grow your business.
You've probably heard that most millionaires have at least 7 streams of income. This is likely very true and it would be highly inconvenient for said millionaire to 'man' all 7 of those incomes and still have their sanity.
So today, we will talk about how to set up your business to become a passive income stream in order to alleviate your time and maximize your income.
AN AFFILIATE IS SOMEONE WHO PROMOTES YOUR COMPANY TO THEIR FRIENDS, FAMILY, SOCIAL MEDIA FOLLOWERS AND RECEIVES A MONETARY PERCENTAGE OF THE SALES THEY HAVE HELPED THE COMPANY MAKE.
FOR EXAMPLE, BRITTANY IS AN AFFILIATE AND SHE TELLS HER FRIEND TRACY ABOUT XYZ COMPANY.
TRACY BUYS A PRODUCT FROM XYZ COMPANY AND THE COMPANY WOULD PAY BRITTANY A PERCENTAGE OF THE SALE SINCE SHE REFERRED HER FRIEND.
THE MORE THAT BRITTANY PROMOTES THE COMPANY, THE MORE MONEY SHE RECEIVES.
THIS IS WHY AFFILIATE MARKETING IS ONE OF THE BEST WAYS TO GET INFLUENCERS TO CARE ABOUT YOUR COMPANY AS MUCH AS YOU DO AND AS SUCH, YOUR BUSINESS CAN EASILY RUN ON AUTOPILOT WHEN YOU HAVE A FEW
HIGH QUALITY AFFILIATES ON YOUR TEAM.
HOW WILL WE KNOW WHO A SALE COMES FROM?
I HAVE USED A WEBSITE CALLED DPD IN THE PAST WHICH IS A SERVICE THAT HELPS YOU KEEP TRACK OFF AFFILIATE LINKS AND PAYOUTS. BOTH YOU AND THE AFFILIATE WOULD HAVE ACCESS TO THE SAME INFORMATION AS TO NOT RUFFLE ANY FEATHERS.
THE SERVICE COSTS ABOUT $10 PER MONTH.
LUCKILY, YOU CAN START WITH ABSOLUTELY ZERO DOLLARS WHILE GETTING EXPOSURE TO THOUSANDS OF NEW PEOPLE IN YOUR NICHE.
WITHIN THE LAST 3 YEARS, DROP SHIPPING HAS BECOME MORE POPULAR AMONGST STARTUPS AND KEEPS THINGS RUNNING STEADY.
DROPSHIPPING IS WHEN AN ORDERED PRODUCT GETS SHIPPED TO THE CUSTOMER DIRECTLY FROM THE MANUFACTURER. THIS CUTS OUT THE MIDDLE MAN (YOU) AND, IN MOST CASES, ALLOWS FOR QUICKER TURNAROUND FOR YOUR CUSTOMERS.
SO YOU WON’T HAVE TO BE STRESSED ABOUT POLY MAILERS, SHIPPING LABELS, AND LARGE ORDERS, YOU CAN SIMPLY CONNECT WITH A DROPSHIPPING SERVICE THAT CAN COMPLETELY TAKE OVER THE FULFILLMENT PROCESS FOR YOUR BUSINESS.
NOW FOR THOSE WHO DO NOT HAVE PHYSICAL PRODUCTS BUT WANT TO SELL THINGS LIKE EBOOKS OR VIDEO TUTORIALS, I WOULD HIGHLY SUGGEST USING AN AUTOMATION SYSTEM THAT WILL ALLOW YOUR CUSTOMERS TO GAIN ACCESS IMMEDIATELY AFTER PAYMENT.
ONCE AGAIN, I WOULD RECOMMEND USING DPDFOR PRODUCT AUTOMATION AS THEY HAVE ALL OF THE TOOLS YOU NEED TO SEND DIGITAL PRODUCTS.
IT’S A VERY EASY SET UP PROCESS AND ONLY COSTS $10 PER MONTH. THAT’S A STEAL. (NO I AM NOT SPONSORED BY THEM, I JUST THINK IT’S A REALLY COOL WEBSITE AND SUPER CHEAP TO GIVE SO MANY AWESOME FEATURES.)
UNTIL NEXT TIME!