As you grow in your career and raise your profile, you may find that you have opportunities for passive income. Passive income, at its core, involves turning your services or intellectual expertise into a product--a course, book, ebook, or other product that shares your expertise--that you can then sell at unlimited scale without having to be actively involved. Whether you treat it as a side hustle or another product or service your business provides, these products can provide a new revenue stream and also allow you to diversify your income.

Once you've created your product, you need to build an audience. Contact bloggers, influencers, media, and others who can help you create a buzz. Send information to your email list. If you don't have one, start with your internal network and create incentives for them to share it among friends. Create a community that is willing to share your content because they have a tangible interest in your success. And remember to be helpful and available for your biggest advocates and evangelists.

Published on: Aug 12, 2017