Earn Passive Income with an Online Business
Monday, December 20, 2010
By Laurie Taylor
Be careful what you wish
for! That’s the thought that crossed my mind when I learned that I had been
accepted as a speaker for this year’s ConFab, the annual conference of IMC USA.
I had submitted three topics: two were
in my areas of expertise but the third wasn’t. Of course, it was the third
topic that was selected.
Months earlier, when
thinking about what I would submit, I had just embarked on an initiative to
take a portion of my offline business and turn it into an online business. As I submitted my application for ConFab, I
thought perhaps this journey that I’m on – learning all about list building,
affiliate programs, shopping carts, tele-seminars, webinars, etc. – would be of
interest to other consultants. Perhaps my desire to expand my reach and create
a passive income stream would appeal to other consultants just like me.
I have been speaking to
business owners for two years about the importance of understanding the
financial aspects of their business. The topic isn’t sexy, but it is the
lynchpin in building a sustainable business. Too many business owners ignore
profit planning, cash flow management and the importance of measuring key
indicators. In October of 2009, it occurred to me that I could create an online
program and reach out to hundreds or thousands of business owners with my
So this is the journey that
I shared with the audience at Confab. The promise of raking in thousands of
dollars a month while relaxing on a beach somewhere is feasible – and happening
to people with far fewer experiences to share than we have.
My driving force isn’t just
the money – it’s the ability to reach a far greater audience than just one
person can reach. I believe very strongly in my message and the tools and
techniques that I teach to business owners about managing their finances.
Finding a vehicle that allows me to do this without getting on a plane every
week is just too good to ignore.
And I want to share my
lessons, my on-going experiences and my successes and failures with other
consultants. To date, I’ve increased my
mailing list by 68%; I have created my online program called Destination, Greatness with 30
participants to date; and I have plans to create 15 products from this initial
The bottom line? Creating an
online business is all about:
Building a list – finding people who want to hear your
Creating a relationship with the people on that list
Gaining the trust of your contacts
Sound familiar? It should.
Online business building isn’t that much different than offline business
building. The main difference is the reach and a future view of your business
that has the cash register ringing while you are sipping Pina Coladas on your
Laurie Taylor is the President of FlashPoint! LLC, dedicated to
helping business owners stay ahead of their growth curve by focusing on the
right things at the right time, responding to the needs of their company, and
predicting how growth will impact them.