Passive income is the way of the future. For working moms especially, this method of earning money opens up possibilities that may have once seemed impossible. Using a variety of approaches, anyone can begin generating a steady income stream with little to no time investment.
No matter what route you take, you’ll ultimately need to plan for your future. Whether you’re looking to start with dropshipping, writing, or freelancing, you’ll need to be able to have a concrete outline for your work. What service will you offer? How will you meet demands? How will you expand and improve your business? All of these questions are essential pieces of the passive income puzzle, and that’s why it’s important to work with others when you’re starting out.
The Importance of Your Community
When you start a business, one of the best things you can do is engage with your potential clients. Get in touch with your community of potential consumers and learn from them.
If you need help visualizing how this works, look no further than Andrea Olson. The founder of the GoDiaperFree movement, Olson has established herself as a successful businessperson. More importantly, however, she’s cemented her status as a fantastic mom. With only three hours of work per week on average, her passive income stream has enabled her to work smarter, not harder.
Understand Demand & Engagement
When developing her method of elimination communication for early potty training, Olson emphasizes that she built upon a solid foundation. Using just 74 contacts on her email list, she constantly checked and conferred with others to determine what her product should look like. She asked important questions:
- What problems must be solved? How would you like to solve these issues?
- Who will use this product?
- How much are you willing to pay for this product?
With all of this data, she developed her platform: a guided method of potty training infants and ensuring they’re able to use the toilet themselves by the time they can walk! This business ultimately led her to spawn another, Tiny Undies, earning her further success and building upon her existing income stream.
Understanding these demands gave Olson the ability to offer the perfect product, while engaging with her target audience allowed for her to constantly build hype and satisfaction. Together, these factors—perfectly met demands and enthusiastic customers—create the perfect conditions for true and enduring success.
Your consumers aren’t the only members of your community, though. You’ll also want to keep tabs on your friends and family. Very few people start out successful. When you’re just getting your footing, you’ll want to utilize all the help you can get. Andrea Olson has admitted that a great deal of her success relied upon the generosity of friends, who gave her a place to stay as she developed her service.
Even if you have a place to stay, your trusted friends and family can help in more ways than you’d think. Meal prep, storage, and childcare are all areas of life that can take you away from focusing on your business.
In fact, according to Olson, focusing wholly on the task at hand is one of the most important things you can do in your life. Whether that task is playing with your kids, watching a movie, or establishing your business, you need to be fully invested. Olson calls this “tilting”, the practice of releasing one task and embracing another in your mind. While this may seem harsh, it’s highly efficient. As such, the act of accepting help from others provides you with the time you’ll need to truly start and nurture your business.
Be Prepared for Work
No matter what passive income stream you’re looking to engage with, you absolutely must know one thing: you will need to work hard. Though the ultimate goal is a mostly self-sufficient business, your early stages will be full of long nights, stress, and hard work. However, when done properly, it will ultimately pay off.
Andrea Olson is living proof! From her long hours and hard work, she constructed a thriving business. Her seven figure income needs only three weekly hours of work on average. The rest of her time is spent enjoying what people were meant to be doing: having fun with family, maintaining the home, and enjoying life!
If you’re ready to take the next step and dive into a future like Andrea Olson’s, then it’s time to join the Rainmaker Challenge! This seven day program has helped thousands of working moms open their own business and find success without having to sacrifice their family time. Slots are limited, so click here to learn more and reserve your spot!