Outsource And Diversity — Two Top Strategies For Passive Income Entrepreneurs

Today, I want to focus on two top strategies for your passive income business — Outsourcing and Diversifying. I find both of these essential to my success, and were repeatedly mentioned to me, by mentors I look up to.

Outsourcing:

In order to not become a slave to the minor activities that are necessary to run an successful passive income business, outsourcing is necessary. Which part of your duties you will outsource depends on your budget, the size of your business and what your major income streams are. Here are few ideas of what can easily be outsourced

1. Designing the cover of your kindle books

2. Social media marketing

3. Editing and formatting your blogs and your YouTube videos

4. Transcribing your podcasts or videos into blog posts

Start by outsourcing those items on your list, that you hate doing the most, and which would free most of your time. These outsourced items do not necessarily mean that they need to be business related. You can hire a personal shopper, have someone clean your house, have groceries delivered to your home, have a virtual assistant schedule all of your non- business related appointments as well. Be creative, and outsource. The more money you will make, the more you have to learn to let go off the little things on your to-do-list.

Diversify

Opening your time via outsourcing allows you to diversify your passive income streams. You could not only depend on affiliate marketing, but also include selling the photo’s you already make for your blog on a stock photo site, or place them on products and sell them on Zazzle or Fine Arts America. There are multiple ways to make passive income, but fixating on one of these will not allow you to reach your full potential. The good thing is, that you can use one income stream to funnel into your other income stream, if you use wise strategies.

Take Kindle publishing for example — you can drive traffic to your blog via an additional resource, which in return creates future customers for additional products or affiliate links. Another example would be, that you could draw attention to your motivational Zazzle designs, via your blog, where you talk about motivation and motivational products.

Question: Do you outsource some of your activities? Which ones, and how?

Blessings!

Claudia