SPI 004 : 5 Powerful Ways to Create Profitable Passive Income Products

The Smart Passive Income Podcast Logo

In this session of The Smart Passive Income Podcast, I go over 5 powerful ways that you can create profitable passive income products. There’s a ton of info out there about what kinds of products you can make (i.e. eBooks, membership websites, etc.), but there isn’t much about the creative methods that you can easily create them, which is why I’m excited to share these methods with you today.

I guarantee that after you listen to this, you’ll probably have a ton of ideas about what you can do and you should be well on your way to creating some kind of passive income info product.

Enjoy!

Right click here to download the MP3

Items Mentioned in this Session:

Transcript:

  • http://www.making-your-own-website.com Nabeel | Create Your First Website

    Hi Pat,

    Thanks a lot for the 4th SPI Podcast. I think you are doing a great job with this!

    Creating passive income products. This topic is really a hot one!

    Kindest,
    Nabeel

    • Pat

      Thanks Nabeel – I appreciate it! I’m working hard to keep it consistent and keep it fresh and content driven. Cheers!

  • http://gruber-tom.blogspot.com Tom

    Hi Pat, have you tried Flattr? http://flattr.com/ Seems to be a good Idea to me.

    • Pat

      Hey Tom – I have not heard of flattr.com before. It’s an interesting concept though. I like the cake analogy in the video. Will explore more. Thanks!

  • Hector Cuevas

    Pat,

    This is a good one, it’s funny you mention audio products cuz I just finished creation one. I’m thinking about repurposing my content and creating an ebook next..

    Thanks for the podcast
    Talk soon
    Hector

    • Pat

      Thanks Hector – what a coincidence :)

      It sounds like you’re on the right track. Keep up the good work. Cheers!

  • http://www.lickshunmewah.com Michael

    Pat
    Excellent as as awlays. You have provided a valuable resource here my friend, one I am very grateful for.

    Thanks for sharing.

    Michael

    • Pat

      Cheers Michael! Thanks for taking the time to listen. It means a lot. Cheers!

  • http://www.youngprepro.com/subscribe Onibalusi Bamidele

    This is really cool Pat,

    You’re going so far with your information product and anybody missing this is missing a great deal ;)

    I will be checking this one out right away.

    Thanks so much,
    -Onibalusi

    • Pat

      Thanks Onibalusi for your support, as always. Hope you like this session! Let me know what you think. ;)

  • http://www.masonworld.com Mark Mason

    What instrument did you play? I’m guessing trombone.

    • http://www.masonworld.com Mark Mason

      Oh — I heard trumpet in the podcast. My daughter (13) plays trumpet.

      • Pat

        Actually my main instrument was the trumpet (yay!), but I also played the baritone, trombone, and mellophone.

  • http://www.nomadcouch.com Juha Liikala

    Great tips Pat! Especially liked tips 1,4 & 5 which are the methods I’ve planned to use with my own site & niche later on!

    Nr. 2 is an interesting method, one question though: Let’s say you’d interview 3-5 “experts” on some niche subject and then turn those answers into an ebook (and sell it). Would you attribute or gave the experts some affiliate commission on the books sold, or would you sell the information “as your own”? The latter sound like a really bad choice (at least ethically but maybe even legally if the authors feel ripped off). How would you approach this issue?

    I like the way Cath Duncan is utilizing an modification of this method with her Bottomlinebookclub.com site. She reads some popular personal development book, finds the “bottom lines” (the best takeaways) from it and make’s an audio lecture, creates a manual & workbook and then even interviews an author / expert on the subject. After that she sells the whole thing as a digital product package. Incredibly smart way to create content and bring value to the buying customer I think!

    BTW: Like the intro and outro of your podcast. Funny stuff.. Who’s the guy speaking there, “The movie previews guy?” :D

    • Cody

      I second that. When I was listening to this part of the podcast it got me thinking. This is a great way to get content, but how do you give incentives to the expert? Has anyone ever done this? Could you share with us how you went about enticing and giving the expert the credit due. Thanks a lot.

    • Pat

      Great question, and I wish I had talked about this more on the show. I’m not a lawyer, but I’m guessing, like you said, it would not be smart just to interview people without telling them exactly what you were going to do with it.

      A lot of times, people are happy to interview with you for nothing in return, maybe just a mention somewhere in the product. Of course, all of the proper legal forms and disclaimers should be signed (kind of like when you appear on television or model for something, you have to sign papers, no matter how experienced you are).

      I would be honest, and if people aren’t willing to do it because you will be selling it, I’d offer some kind of payment up front for their time, or something in return – maybe a small percentage of the profits but then that could get complicated as far as bookkeeping and finances/taxes are concerned. I should find an internet marketing lawyer and having him/her on the show – I bet they would answer a lot of these questions people are dying to know!

      • Dierdre

        I would love to hear the answer to this! I’ve heard this approach recommended before, and my first thought has always been, “Nobody would be interviewing *me* without giving me a percentage of profits from the resulting product.”

  • http://www.bloggersjournal.com Mark Bell

    Hey Pat,
    I’m finding myself looking forward to your podcasts. I’ve read the content, but the podcast is much easier as I haven’t often the time to read.
    Anyway, some awesome tips there. I’m actually blogging less at the minute and spending my time planning what I want from my blog. I’ve established that I’ll be following the method of writing content which will ultimately form an eBook. A blog can be quite random, or tricky to get the entire series of articles – so, as you say, structuring it in the form of a book is a great way to generate revenue.

    I’ve thought of membership sites/coaching programs. I think I need to establish what I’m really good at, and can make a name for myself online. We’ll see how that goes I guess.

    Thanks again,
    Mark

    • Pat

      Good stuff Mark – I think that spending the time to think about where you want to take your blog will be totally worth it. Keep up the good work, and thanks for listening! I’m glad you’re enjoying the show! Cheers!

  • Jeff

    Hi Pat,

    Great podcasts! Who do you use for your transcriptions?

  • http://wilsonusman.com wilson

    Good stuff man, I didn’t even know you played soccer. I did too since I was a kid.
    But anyway the podcasts are really rocking. I like it because I can work out in front of the computer while listening to them. or just listen to them on my iPhone it’s cool.

    • Pat

      Awesome dude. I’m glad someone is listening to them while doing something else – that was the whole point!

      Cheers!

      p.s. did you get my email about resending those interview questions?

  • http://inventionaddict.com Stephen B | Invention Addict

    Pat,

    The podcasts rock. I really like the transcripts. People learn in different ways (visual vs. auditory) so when I read the transcript of Glen’s interview and then listended later I was ableto absorb the material and process it much better.

    As I listened I wrote note for actions to take. It’s like being in school again. The content you have is pure gold.

    Thank you so much,

    Stephen

    • Pat

      Thanks Stephen – and I apologize the transcript was a day late on this one. It’s up now though!

      Haha, I always wanted to be a teacher of some kind – I guess you all are my students! Time for recess!

  • http://successfulupstart.com Brandon Winters

    Hey great show Pat. Your intro and outro are so bad A! I bet it helps bring some more popularity to the blog.

    I totally agree that it is looking in those unique voids in the world where you find opportunities to make that product that will earn the passive income. Exploring yourself and finding people to reach out to and help just as you have helped yourself is my favorite way of earning my living. And its fun because it isn’t easy, it is a challenge, but it betters me and everyone involved and so it totally makes it worth while!

    See you around!

    • Pat

      Hey Brandon – thanks for the props on the intro/outro :)

      I think it’s all about keeping an open eye for things. There are always new opportunities and chances to go big around us – we just have to 1) know they are there and 2) take action.

      Cheers and thanks for listening!

  • http://cashcampfire.com Christina Crowe

    Great Podcast! I can think of a few bloggers who make money by writing eBooks on content already on their blogs and those who make money with online courses and then offer visitors the chance to pay a lower monthly fee to view the content through a membership program.

    I’ve been considering writing an eBook of my own about a topic that I’ve already been talking about on my blog for a few months. I’ve been getting many interested readers, so I think the eBook would do well.

    This podcast has really motivated me to take action. I loved the topic and look forward to the next podcast!

    Christina

    • Pat

      I’m glad I could inspire you to take action, Christina! Nothing good will happen unless we do that, and you seem to be at a good point on your blog to do so! Good luck! Let me know how it goes. Cheers!

  • http://www.virtualbusinesslifestyle.com Chris C. Ducker

    Excellent edition to the growing line-up you have here, Pat.

    Your plan of attack for consistently is a very important one. And, I’m happy to say you’re doing a fine job.

    Mix things up a little, buddy – be as strong as you can, but a little ‘loosey goosey’, too. The ‘passive income’ space is YOURS as far as I’m concerned, so stay true to it, and you’ll do just fine, I’m sure.

    Downloaded Ep.4 straight into iTunes without knowing it as I listen to Brother James this evening…! Awesome.

    Chris

    PS. Funny how our posts are so similar today… Are you also wearing Superman underpants, too? If so, that would be freaky!!!

    • Pat

      Thanks for the kind words Chris – I appreciate it!

      It is pretty coincidental that our posts go hand in hand – I guess great minds think alike!

      And sorry, no superman underwear. It’s Simpsons ;P

  • http://savemoneyeveryday.net Sebastian

    Hey Pat,

    i really enjoyed listening to your newest Podcast. Go on, wish to hear more from you!

    • Pat

      Thanks for listening Sebastian!

  • http://missiondrivenbrand.com Rob Pene

    Great job!

    I love the “teach somebody something” idea…never thought of it from the angle you shared…thanks brotha!

    • Pat

      No problem Rob! Thanks again for all of your support! Cheers!

  • http://nicheblogpro.com Gerry Media

    Hi Pat,

    You mentioned in your podcast a tip about interviewing experts in a niche. I would like to interview you for an article on my blog (NBP). Do you accept interviews?

    Talk soon!

    Gerry

    • Pat

      Hey Gerry – of course, I almost usually accept an interview if my time allows me to. Contact me via the contact form and we’ll chat. Thanks!

  • http://www.learningguitarnow.com John Tuggle

    Good one Pat! What you’ve described with the Trumpet is a lot like what I’ve been doing for the last 3 years.

    Lots of competitive guitar players too. I can just imagine Trumpet players blowing their head off to get that high note!

    See ya!

    John

    • Pat

      I remember once in high school, I was the section leader and I was leading the trumpet section in some exercises. Well, one guy decided to go for a high & long note, and then he actually faints and collapses onto the floor, hitting his stand along the way.

      It was sort of scary, but after we found out he was okay we laughed about it…for weeks.

      • http://www.learningguitarnow.com John Tuggle

        Nice! :)

  • http://www.thewisebuck.com Mike

    Great Podcast Pat – I think you’re doing a great job of good content on all the Podcasts. It is true that people will pay for content that is already available. The ease of use that comes from organization and putting it all in one place is valued! Keep the podcasts coming! Take Care, Mike

    • Pat

      Thanks Mike – I appreciate that insight. More sessions to come! I love doing them :)

  • http://www.theweekendhomebrewer.com/ Clay

    Have been following the podcasts since you started. Great stuff as always. I’m still feeling my way around right now. Trying to get the ins and outs of things. It’s going a little slow. But getting started is the first step right. I look forward to the next podcast. Cheers to you!
    Clay

    • Pat

      Hey – slow isn’t necessarily bad, as long as you are taking some action. Keep up the good work, and thanks for being an awesome listener!

  • http://clintonskakun.com Clinton Skakun

    Great idea, in fact, I’ve been thinking of doing the same thing!

    • Pat

      Awesome – thanks Clinton!

  • TrafficColeman

    These super steps are awesome Pat..people need to realize that theirs a lot of niche markets out there..you must just do some research and find them.

    If that market doesn’t have an affiliate product to sale, hey do what Pat say and interview people in that industry.

    “TrafficColeman “Signing Off”

    • Pat

      Yep – you can create your own product and earn even more than if you were an affiliate for some kind of product. Cheers dude!

  • http://www.bodybypatrick.com Patrick

    Pat, I just found your Blog through a friend of mine…And, I must say that your story is a true inspiration to what is possible if you’re willing to work hard. I love the content that you provide, especially your podcast, and I can’t wait “dive in” every time you create a new podcast.

    Thank you for all your insight, and I sincerely hope that I can realize at least a fraction of what you’ve already achieved online in a relatively short amount of time.

    I love your idea about interviewing other experts on a particular subject, and then transforming that into a product for sale later–brilliant!

    I do have a question though: After recording the interview, what service do you use to transribe the audio or create your manuscript that you later post on your site? I definitely want to utilize your interview-to-product idea so, I would be most grateful if you don’t mind sharing the service you use to create your manuscripts or transcribe your podcasts.

    Thanks again for providing great content, and I look forward to your response.

    -Patrick

  • http://www.creatingmyempire.com Dustin Stevens-Baier

    I just finished this podcast and I think it is your best one yet. You can definitely hear the improvement from the first episode in your presentation style. I look forward to more podcasts in the future.

  • http://sidsavara.com Sid Savara

    Thanks for all the info Pat!

    And do you know the first thing I Googled after hearing your podcast?

    “how to punt a football”

    =)

  • http://www.crunchbase.com/person/tej-kohli Tej Kohli

    Hi Pat,
    Thanks for this post , Its seems Like All in One Pack … I will make a post on blog after reviewing all aspects of Smart Passive Income .. Keep it Up !

    Thanks
    Tej Kohli

  • http://www.estrategiasdemarketingonline.com Jose

    Awesome Podcast Pat!! You are such an inspiration to me. I would like to start my own podcast and I would like to know which service do you use to host the podcast, and to put that beautiful player on the post.

    Thanks for all the information you give!
    Jose

  • http://www.wordpresshostinghq.com Wordpress Hosting l Jake

    You’ve made my Podcast hit list – I’ve A-listed you above all the other business/marketing/internet business podcasts that I’ve been following!

  • Pingback: My Income Report – October 2010

  • Tim

    Damn)
    I play soccer and can kick ball pretty far
    make a product…)

  • http://www.transpiral.org Yasmine

    I came across your website when I am looking through your website, and been listening one podcast a day and found the information really interesting.

    I wanted to find out whether you think its better to have blog posts or to have those squeeze fights.

    Also for someone starting out, how soon do you think we should offer ebooks and also how do you go about building up your editorial planning. Do you write what you think is right or do you have a plan?

  • http://www.iblogjuicing.com/motivation-to-lose-weight/ Frank

    I’m looking forward to checking out Darren Rowse’s 31 day to a better blog

  • http://www.daisypeel.com Daisy

    I’m currently teaching online classes, have written an ebook, and generated a bit of other content on my website (definitely a niche that I’m an expert in!). I’m looking to extend my ability to reach and help more people – teaching directly is not a scalable enterprise :)

    So I’m happy to find your webpage with a lot of good solid advice, not a lot of snake oil, and I’m enjoying your podcasts. I have searched quite a bit and am wondering if you ever DID do a podcast on how to set up small-group online coaching, or how to set up the resulting products OF that coaching? Just looking for overviews, I’ve got the content (ebook, DVD/video, more on the way), I’ve got people I know would be interested, I know how to use WordPress and eMember and S2Member and all that…just need a little creative direction on how to get from point A–>Z

    Little things like, how MUCH content (minutes) is typically marketable in a video lesson? How small/big are chunks from a marketability standpoint?

    Or, general flow from the idea of online coaching –> marketing it –> providing it –> wrapping it up for resale –>? I’m sure there are lots of steps in that flow I would be suprised to read about and would appreciate knowing in advance!

    Thanks again for a great site!

  • Lorraine

    Love it, I have a question, why all products cost $47, $97, $497? they always have this price that ends in 7. thank you

  • Greg H

    Hi Patt after I heard of leveraging existing blog posts to create an ebook I decided to take action and create a free e-book on Sydney Australia. After creating that one I went on to create a paid one on New Zealand on the Kindle store that just went on-line. Thanks to your idea and motivation.

    http://www.amazon.com/NEW-ZEALAND-Travel-Adventures-Islands-ebook/dp/B00NQ6TR8G/ref=sr_1_8?s=digital-text&ie=UTF8&qid=1411141861&sr=1-8&keywords=travel+new+zealand