Manage episode 281360654 series 2848350
124 Passive Income: The 5 Blocks Holding You Back From Passive Income
“Making money while you’re asleep” has a good ring to it, doesn’t it?
But what if I tell you that while developing passive income, we can still have blocks?
In today’s episode, I want to share with you some of the blocks and challenges that I faced and you might potentially face while developing passive income streams in your business!
You have to get comfortable with selling
02:18- 03:00 First, you have to get comfortable with selling. Passive income products are not going to sell themselves. You will need to spend a lot of your time developing sales funnels for these products, running launches and activities such as webinars to reach large numbers of people. The other day someone said to me "You’re a great salesperson" and I instantly felt this icky feeling as I hate to be ‘sold’ to. I hope she meant that I was persuasive and really convinced her of the benefits of our program. Selling will only get easier as your confidence grows from seeing the results your customers achieve.
Comparing yourself to bigger competitors
03:03- 03:07 Number two: Comparing yourself to bigger competitors.
03:25- 03:43 I think it's not really awesome to compare yourself with others however I really find it useful to focus on how different you can be or I am different from them or what I have in my product or service that they do not have. So what is your unique selling point?
Stop comparing your prices
04:21- 04:42 Number three: Stop comparing your prices. The market is flooded with passive income products these days, especially now. Everybody moved online. And consumers have so much choice available to them. It can be difficult to not base your price on what other people are charging.
Using your own money blocks to price your product
05:55- 06:19 Number four: Using your own money blocks to price your product. Price is relative. You can't assume what feels expensive to you or you will be expensive or out of reach to anyone or everyone. In the end, this is just about knowing your ideal customer who you're targeting, who is your fish, and what is your value ladder and what they will be comfortable spending on your product or service.
You really have to get comfortable with money coming more easily
06:23- 06:26 Number five: You really have to get comfortable with money coming more easily.
06:34- 07:15 I’m sure most of you will be thinking 'Money coming easy.' Yes, but the thing is if you have always worked long hours, you have back to back clients, you have this work very hard syndrome. Earning passive income might really feel uncomfortable and you might even block it without knowing. And the beautiful part about passive income is you only have to do the work once but can sell it to unlimited numbers of people around the world.
- You have to get comfortable with selling.
- Comparing yourself to bigger competitors.
- Comparing your price.
- Using your own money blocks to price your product.
- You’ll have to get comfortable with money coming more easily.
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