Passive Income Ideas for Virtual Assistants

Passive income products allow you to make money while you sleep. Sounds pretty good, huh?

And guess what! You can create these products anytime during your VA journey. 

In this episode, I’ll be covering different types of passive income products you can create, plus tips and tools for creating and selling your products.

Even if you’re not ready to create passive income products yet, it’s good to have an idea of what’s possible with your business in the future.

Mentioned in this episode:

• *Canva for creating materials like templates, presentation slides, AND recording your presentation - https://desiretodone.com/canva
• *Creative Market for cute clipart and patterns for your printables or print-on-demand products. You can also sell your designs there - https://desiretodone.com/creativemarket
• PDF Escape to make your templates, printables, ebooks, or workbooks editable so people can fill in digitally (instead of printing) - https://pdfescape.com/
• *DPD which stands for Digital Product Delivery for selling your templates, printables, ebooks, or workbooks - https://desiretodone.com/dpd
• *Screencast-o-Matic to record and edit tech tutorials - https://desiretodone.com/screencastomatic
• Passive Income Ideas for Your Business course - https://introvertvaclub.com

More resources:

• *Ring light – Good lighting is essential if you’re doing videos of yourself talking - https://amzn.to/3mj7Oi8
• *Lavalier microphone for recording videos of yourself talking. It attaches to your shirt and connects to your video recorder or phone. - https://amzn.to/3wNuPPc
• *Rode Podcaster Microphone – This microphone is used for recording screen recordings: https://amzn.to/3A5UaTd You’ll also need a *microphone stand for your desk: https://amzn.to/2WGsPZu
• *Teachable – Super easy to set up and sell a training, workshop, or ecourse. You can even create a simple membership - https://desiretodone.com/teachable
• *40 Days to a Finished Book – Writing a book can be a daunting task! This course will help you write and publish your book in less than 2 months -  https://desiretodone.com/leoniebookcourse
• *If you create videos of yourself talking (referred to as talking head videos), I highly recommend these videos by Dennis Schrader on Skillshare -  Make Engaging Videos with a Teleprompter or Phone: https://skl.sh/3rn0Eez, Framing and Composition for Videography: https://skl.sh/3NCjl6K, and Lighting for Video: https://skl.sh/3lQ65iZ

Sign up for my weekly newsletter full of VA tips: https://desiretodone.com/newsletter

*affiliate links

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Transcript

Passive Income Ideas for Virtual Assistants

This episode may contain affiliate links, which means if you make a purchase through the link, I get a small percentage at no additional charge to you. 

Passive income products allow you to make money while you sleep. Sounds pretty good, huh?

And guess what! You can create these products anytime during your VA journey. In fact, I created my first ebook within the first year of becoming a VA.

Not only do passive income products increase your profits, but you can also create products for people who can’t afford your 1:1 services. For example, if you offer social media management for Instagram, you can create a template with captions that people can edit and use themselves.

Hello! Welcome to the Desire to Done podcast! I’m your host Billie Gardner.

In this episode, I’ll be covering different types of passive income products you can create, plus tips and tools for creating and selling your products.

So what kind of passive income products can virtual assistants create? 

Well, there are actually lots of options to choose from! A few ideas are:

Templates

Printables

Ebooks

Workbooks

Trainings

workshops

Ecourses

Print-on-demand products

Paperback or Kindle books or

Membership sites

If you’re wondering which product to create first, I say go for the quick win and choose the one that’s the easiest to make and launch. This would be a template, printable, ebook, or workbook. Later on, you can do something more advanced like creating an ecourse or workshop.

I’ve been offering passive income products for several years now and have learned a few things along the way! Let me share a few tips with you.

Tip #1 - Start small! Don’t dive headfirst into creating a membership site. Start off with a small, low-price product first, such as a template or ebook. It will be a lot quicker to make, and therefore you won’t get overwhelmed and quit. 

Tip #2 - Some products are more passive than others. When figuring out which product you want to create, consider how much time you have to maintain it. Some will take more time and energy to maintain than others. For example, Templates and ebooks don’t normally need much maintenance. That is unless you create it based on a topic that is constantly changing…more on that next.

Tip #3 - Some topics are more passive than others. For instance, let’s say you want to create an ebook or course on how to use Pinterest. Well, Pinterest’s algorithms are constantly changing; therefore, you’ll need to update your material a lot to keep it relevant. This also applies to any tech tutorials that you need to update (cuz tech platforms LOOOOVVVE changing their interface once you make a whole course on their tool!!)

Tip #4 - Some products are less time-consuming to maintain. An ebook or DIY ecourse is less time-consuming to run than a live ecourse or membership site.

Tip #5 - Some products will require you to consistently create new content (like a membership site) where something like an ebook won’t.

Tip #6 - Every business is different. Something that works for me might not work for you and vice versa. Running a business requires testing and experimenting to see what works. You’ll eventually figure out which products your customers like best and at which price point.

Tip #7 - You can always change the price of your products. Don’t stress too much about the price because it’s not set in stone and can be changed at any time – even a book you publish on Amazon! It’s usually best to start low and raise your price rather than the other way around.

Tip #8 - You can always update and improve your products. Don’t get caught up in making everything perfect – you can always go back and improve. DONE is better than perfect.

Tip #9 - You must promote your passive income products to reach customers. Just because you make an ebook and put it on your site doesn’t mean people will flock to buy it. You need to create a sales page, use SEO strategies, write blog posts about the topic, promote on social media, have an email list, and send emails to your subscribers. Don’t let this stop you, though. Making money in your sleep is the payoff!!

Tip #10 - Making money from a passive income product can be a slow process, especially if you don’t have an audience or email list yet. Just keep promoting it, grow your email list, and give it time.

Some of my favorite tools for creating and selling passive income products are

Canva for creating materials like templates, presentation slides, AND recording your presentation!

Creative Market for cute clipart and patterns for your printables or print-on-demand products. You can also sell your designs there!

PDF Escape to make your templates, printables, ebooks, or workbooks editable so people can fill in digitally (instead of printing).

DPD which stands for Digital Product Delivery for selling your templates, printables, ebooks, or workbooks.

Screencast-o-Matic to record and edit tech tutorials.

I have a few more recommendations - I’ll share the ones I just mentioned and more in the episode description. 

As you can see, there are many ways to make extra cash with your Virtual Assistant business. Remember to start small, promote the heck out of it, and give it time.

Want to learn more about the passive income products mentioned in this episode?

I cover the pros and cons, examples, and my experience with each in the Passive Income Ideas for Your Business course. It’s included in my membership program, the Introvert VA Club, along with a supportive community, a library of resources, and more. Go to introvertvaclub.com to sign up. 

Thanks for listening! I hope you enjoyed this episode! Even if you’re not ready to create passive income products yet, it’s good to have an idea of what’s possible with your business in the future.

I’ll chat with you next week! Bye!