Stop Trading Your Time for Money with Lucrative Passive Income Streams!
Okay, so how many of you feel like you’re struggling to make money and get your business off the ground? How many of you feel like you’re stuck in the never-ending rat race? When you trade your time for money; that’s exactly what you are in! You are in a never-ending rat race because there is only so many hours in the day and there’s only one of you and that’s the problem. The most successful business owners utilize passive income streams to stop trading their time for money.
I always talk about blogging and how important it is for SEO, but it’s also a great way to make money. You can generate money through ads, pay-per-click links, affiliate links, and backlinks. You can even get sponsorship by big stores like Target and Macy’s if your blog has a big enough following. Blogging can be a great side hustle and if you’re strategic, you can relate it back to your fashion business.
Don’t think you need to buy expensive video equipment to do this! You can literally film on your smart phone, edit on iMovie, and upload!
If you use ads and include the right keywords, you can gain a lot of traction and start to make good money. I posted a video on my YouTube channel about four years ago and I have to say it is a horrible video. It was a fashion sketching video and my hand is literally blocking the camera, so you can barely see what I was doing. But it BLEW up overnight and now it has over 500,000 views even though the quality is horrible. So, just start somewhere and start posting stuff. You and your quality will get better over time. Don’t be crippled by perfection because once it goes viral and you’re making money, trust me you’ll be glad you started!
Create an App!
Depending on your business model, it might make sense for you to create your own app. You can charge a couple bucks for the app and then of course get paid to display ads. You can also charge for certain features and upgrades inside of the app.
Become an Amazon Affiliate!
Amazon affiliates get paid for referring people to various Amazon products. You can refer new customers by adding links to your blog and social media accounts. Then every time someone clicks your link, you get paid a commission!
Start an Online Boutique and Start Selling Other People’s Products
So, it’s great if you start an online boutique for your own products, but why not start to feature other designers and get paid for their work as well? If you own a clothing line, feature different accessory, shoe or jewelry lines– something complementary to what you’re selling.
Oberlo is a great app that links to your Shopify store. All you have to do is post the picture and add the link to the merchandise you want to sell on your Shopify account. When someone clicks on your website to purchase it, they will link it back to Oberlo’s website, handle the payment, pack it, ship it, and you get paid a commission! You don’t even need to stock inventory—it’s that easy!
Become an Influencer on Social Media
This is amazing because people will start paying you to promote their products and their services! Once you establish a huge following, more and more people will pay you to do promotions for them.
I know that custom-made business models are trending, but mass production is the only way you’ll get ahead financially.
The reason you can buy a $4 T-shirt at Walmart is because they’re selling hundreds of thousands of T-shirts. If you’re wondering why a garment is costing you $1000, it’s probably because they’re not producing that many of them– they are probably producing between 10 to 100 pieces. Manufacturing can be a really lucrative business if you produce high volumes, the higher you will go, the more money you’re going to be able to make. What most people don’t understand about mass production is that the cutting stage alone takes the same amount of time– whether you’re cutting one garment or you’re cutting 100 garments. That’s why the price goes down when you produce more garments.
Why Digital Marketing is the Gateway to Passive Income Streams
So what do all of these passive income streams have in common? They all require a massive online following! Whether you start a blog, create an app, or launch an online store– your profits depend on the quantity/engagement of your followers! This is why digital marketing is such a crucial skill for budding entrepreneurs. That’s why we have created one of our best-selling online courses called Mastering Digital Marketing! You’ll learn the following:
- How to drive traffic to your online store
- What to post on social media to skyrocket your engagement
- How to properly build your website
- A keyword research checklist and website building checklist
- How to write an effective blog post and seven places to post and promote it
- 12 ways to grow a massive email list
- Questions to ask in social media strategist if you’re going to hire one
- And SO much more!
So, if you’re interested, sign up here for the Mastering Digital Marketing Course!
And for weekly fashion biz tips, join our Fearless Fashionpreneur Page here!
Like this post?
Sign up to get more like it