In this blog post: Passive Income Made Easy with Lisa Johnson: Part 1, I’m going to bring you the advice I received from Lisa Johnson, otherwise known as The Passive Income Queen and my executive summary of how you can EASILY make passive income RIGHT NOW!

Both Part 1 and Part 2 are a general summary of how to go about doing an online course – as in the bigger picture. I purposefully haven’t gone into the nitty gritty details on these blog posts simply because when I started out (and I know I’m not alone) I became so bogged down in the details, details details details, I didn’t see the wood for the trees and ended up producing an online course that nobody purchased! I missed the obvious. What Lisa does in the podcast and what I summarise in this post is the road map you need to follow – as in the key steps.

It’s golden!

Lisa is one of the only people I know in the UK who is doing this successfully – as in is making A LOT of money and in this blog post I bring you the edited key highlights of the podcast I did with her and it’s a corker!

If your needing to make additional money or simply want to change your 9 to 5 then you must read this from start to finish! She gives amazing and practical tips.

I’ve formed the blog post as a transcript, Lisa is blue and Prosperity Kitchen is pink BUT BUT BUT  i’ve edited thoroughly to bring you only the juicy bits!

We start at the point in the podcast where she tells me how she successfully started a wedding planning business, which led people to asking for her help as a Business Coach and then eventually how she found passive income…..

Pushed for time? Scroll down to the bottom of the page for my summary.

Passive Income Made Easy with Lisa Johnson: Part 1

 

Lisa Johnson – Passive Income Queen

I was going through this divorce and juggling the twins and I had this business that wasn’t making any money. So I thought I would just chuck another £10,000 at the debt! I got a business coach and it all turned around for me. Then people started asking me how how I’d done it. Then they started making money and then people not in the wedding industry started asking me to help them and I did and then they started making money also. And I realised that actually, my passion was / is to break down complex business talk and turn into everyday speak because I don’t believe business has to be complicated and we make it complicated. So I then decided to start my own coaching business and it was very successful and in the first six months I’ve made over £100k. But I was shattered! I started turning Clients away.

Gemma – Prosperity Kitchen

Sounds like me, but carry on.

Lisa Johnson – Passive Income Queen

I think we’ve all felt that at some point and my relationships with suffering. I got married again and I never saw him and I didn’t see the kids enough. So I knew I needed another way. And so I started looking into passive income. I heard somebody talk about it and what they were doing was debating whether it was even a thing. So I started looking into it, I ended up spending about six months really studying it, I spent LOADS on coaching and courses during this time, it wasn’t easy, you know, I had to put some skin in the game. And then I started with a course and then I started the membership and started with a few different passive income and semi passive income streams. And very quickly realised it worked and I didn’t need to take on any one to one clients anymore. And I had all this free time and I’ve hit half a million without even really trying in the next year.

Gemma – Prosperity Kitchen

And did you by any chance study Pat Flynn?

Lisa Johnson – Passive Income Queen

I did. Yeah. He’s one of my favourite people.

Gemma – Prosperity Kitchen

Just so we’re all clear, can you tell the listener what passive income actually is?

Passive Income Made Easy with Lisa Johnson: Part 1

Lisa Johnson – Passive Income Queen

Yeah. And and it’s not what most people think it is. It means that you have an asset up front that you build. And then once you have that asset, you make money from it time and time again, so you’re no longer trading time for money, which is what we normally do and that’s the best way to explain it. It’s as if you have a spare room and you’ve bought that spare room, you’ve painted it you put a bed in it, you’ve made it look nice, you’ve marketed it so that a lodger can come in and live in it. And then every single month from then on, you’ll get money from that lodger without having to do anything.

But you have to get the room ready up front.

Gemma – Prosperity Kitchen

A very good analogy.

Lisa Johnson – Passive Income Queen

So that’s the way I explain it to people. But obviously, there’s loads of different types of passive income streams that you can have. But if you think that the average millionaire has seven income streams.

Gemma – Prosperity Kitchen

Yeah, I say it’s making money while you sleep. Hard work upfront and then it makes you money forever.

Lisa Johnson – Passive Income Queen

It’s exactly what Warren Buffet said. If you don’t earn money while you sleep, you will work until you die.

Gemma – Prosperity Kitchen

So for the average person out there, who are probably in full time work and may be thinking about  setting up a business to get some extra money. How easy is it to do?

Lisa Johnson – Passive Income Queen

It’s not difficult depending on what kind of passive income you want to set up. There are things like writing an e- book, which are quite simple or like drop shipping, which is where you you don’t have any product that you own or keep with you. But you sell products for a manufacturer. I believe that the easiest way to make passive income is courses memberships. But (and this is what most people don’t tell you),  you need to grow an audience first. And that’s the bit that takes some time.

It doesn’t have to take a lot of time, my first audience of 1500 people grew organically in five months. And my second, I used a few Facebook ads and grew a group of about 2000 in three months, and then made 100 k from them in month four. So it doesn’t have to take a lot, but you will have to grow an audience. So it’s best to get started on that bit first before you even think about passive income streams. But remember that you said that you really want this to be for the average person out there.

And that’s what I love about passive income because if you think of a membership, for example, it doesn’t have to be about business. It doesn’t have to be about you know, how to get clients. It can be about something that you like to do. Like, you know, when we were kids, we always wanted to be in a club with other people that were bit like us. Nothing is different to that now. So I have clients that have memberships in all kinds of things from caribbean cooking to one lady who makes £10,000 a month from having a membership with people that like the theatre.

Yeah, there’s lots of different ways to make money with memberships, especially memberships are about low cost, high volume, but you need to build the audience first. Don’t automatically think, “well, I’m not the expert in anything…..” which is what most people do. So I can’t have a membership. I can’t do a course.

Remember the definition of an expert is the person that knows the most about that particular subject, in an average room – NOT in the world.

So you will know something more than anybody else in an average room that other people want to know about. And if that’s all in your head, you can make a course out of it or you can make a membership or group programme or or an E book.

Gemma – Prosperity Kitchen

Just to clarify for the listener  – audience means? To me that traditionally means an email list or Facebook group?

Lisa Johnson – Passive Income Queen

That’s what I mean yeah, I have had some clients that built their whole audience on Instagram on LinkedIn. I still prefer Facebook groups and and definitely an email list because we never know what’s going to happen with Facebook. So best to be on the safe side and have that list as well. But you can grow them both at the same time.

Gemma – Prosperity Kitchen

So just to clarify what Lisa is saying, although I think I’m just repeating what she’s just said! You said it’s all very well having potential passive income stream ideas, but you need to have an audience ready to sell too.

And that’s traditionally been by an email list.

Passive Income Made Easy with Lisa Johnson: Part 1

Lisa Johnson – Passive Income Queen

Yeah. But if you look at actual figures of how many people are on each Facebook, it’s better. And yet so many people are thinking that Facebook groups are dying but they’re not.  You just have to be a bit clever and strategic about how you use them.

Let’s say I want to help mums in business. So that would be your client and you’d work out everything about that client and nurture them over a period of time. And that’s when you can decide what kind of passive income stream you’re going to have. Because until you’ve grown this audience of your ideal clients, you don’t know what to give them because you’re just be deciding rather than asking, and you need to ask them what they want. It’s about finding out what they want before you produce it.

Gemma – Prosperity Kitchen

Yeah. So let’s talk about that. So we’ve got a listener out there, and they’ve probably got a small business that’s going to be our avatar. And they would like to produce an evergreen online course.

Lisa Johnson – Passive Income Queen

Okay, let’s just point out the difference here between passive and semi passive because I think courses are best done semi passive, not evergreen.

I have a course at the moment called fabulous foundations, it goes over 10 months.  It’s already been written because I’ve delivered it four or five times, but once a month I still go in and deliver training live on zoom. And I have to do that every single month for the 10 months that it runs. Now that’s semi passive, because although I make £100,000 for that 10 hours work, I’m still working, I’m still having to actually deliver it live. Whereas I have other courses that are completely passive, which means you could go on to my website, you could buy one on, off you go, and I don’t have anything to do with it, you just do it yourself.

Now, I realised after doing quite a lot of passive courses, that I much preferred, semi passive, because the clients got better results because I was delivering it live, they could ask me questions, so they’re more likely to get what they need out of it. And I got much better testimonials because I was there doing it with them. Whereas when it’s completely passive, you don’t really know what happens: they go off and they do it and and you have no idea whether it was a success or not.

So I changed all of my income streams to semi passive from passive which still means I have to work BUT very little. But it also means the clients get the best results. And that’s more important to me than me just making money.

So, I would strongly advise, at least for the first couple of times, you do a semi passive course.

Gemma – Prosperity Kitchen

How you would start?

Lisa Johnson – Passive Income Queen

You would start by looking at your audience, if you already have one, if not growing audience of the people that you want to help.

But let’s say you already have a small audience, you would start by asking them what they need and you might have some ideas of the courses you really want to do. So put that out to them and ask which one of these do you think would be really useful for you? And this is the biggest tip before you write a single word of any course (ask your audience what they want)…

 

Need to boost your confidence levels?

How To Build Confidence Gemma McCraeLooking to build up your confidence levels but not sure how? Got a particular area of your life where you need more confidence? If you do then click here and watch my FREE video on How To Build Confidence.It’s helped so many people already.

There you are everyone, watch out for Part 2…………..

I hope this helped you.

Gemma

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Full Podcast Interview with Lisa click here.

Summary – Passive Income Made Easy with Lisa Johnson: Part 1

Passive Income Made Easy with Lisa Johnson: Part 1

  1. Look up Pat Flynn – Smart Passive Income. He is amazing. Click here for his website.
  2. Passive Income =  It means that you have an asset up front that you build. And then once you have that asset, you make money from it time and time again.
  3. The average millionaire has seven income streams.
  4. Lisa believes that the easiest way to make passive income is courses memberships.
  5. But the SECRET to creating passive income is to grow an audience first
  6. E-mail lists and Facebook Groups are the best way to grow your audience.
  7. Understand the difference between passive and semi passive income.
  8. Lisa prefers semi passive income (online courses) because the client gets better results.
  9. Another BIG TIP –  before you write a single word of any course – ask your audience what they want.

 

Remember watch out for Part 2…………..

BIO

Gemma McCrae

Gemma is a leading Life Coach & Business Coach, Award Winning Podcaster and the owner of Prosperity Kitchen. Regularly featured in the national press, Gemma is one of the “go to” people on Life Coaching & Business Coaching. Gemma counts VIPs, High Net Worth Individuals, Entrepreneurs, Career Professionals, Stay at Home Parents and all manner of other amazing people as her clients. She specialises in Personal Development, Career Coaching, Employee Coaching, Executive Coaching, Confidence, Motivation, Health and Small Business Coaching.

 

Passive Income Queen Lisa JohnsonLisa is a business coach and is known as ‘The Passive Income Queen’ after taken half the year off to go travelling with her family all whilst earning multiple 6 figures a year! Lisa is passionate about wanting to share what she has learnt with others…She said; “My biggest piece of advice is to work alongside a business coach or life coach to establish a plan of action with clear goals. This self-investment not only helped me to reflect but in the long-run saved me so much time and also money!  With the help of my coach, I learned so much about business, working hard on my mindset and putting into place a plan of action that saw my business go from no clients to fully booked in just 5 months whilst upping my prices 3 times in that timeframe.  Industry colleagues wanted to know how I had achieved this level of success and so I started to spend time with them, helping them to analyse their businesses, who their ideal clients were and how they could go about attracting them. They then started seeing huge successes and increasing their profits as a result of the guidance I had given them. This was the start of my coaching business and within the first six months I was hitting six figures and every programme I launched was selling out within hours. “After years of working crazy 80-hour weeks, feeling exhausted and with little free-time, my coach encouraged me to explore and learn the ways of passive income streams to gain myself freedom – Passive Income now defines my way of business, meaning I have so much more freedom to spend time with my family.  It has allowed my husband to retire from his 9-5 job and focus on our wedding business, and look after our twins, who are seven. As for me, it means I can just work 9am-3pm four days a week, with 80% of the money I earn being passive income from courses and memberships.  Reduce working hours allows more free time to enjoy life – “we work to live not live to work!” I am now known as The Passive Income Queen, having taken half the year off to go travelling with my family all whilst earning multiple 6 figures and I want to share what I have learnt with fellow entrepreneurs.  I now work as a business coach for ambitious entrepreneurs and specialise in helping my clients understand and implement passive income, helping them reduce their working hours and give them more free time to enjoy life.”  https://lisajohnsoncoaching.co.uk/

 

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