How To Make More Without Doing More Work: Setting Up Passive Income
Who doesn’t want to make more money? It’s only natural to want to be better equipped and more financially capable of facing life’s problems. But there are only so many hours in a day, and if you have to sacrifice time with your family to make extra income, you might find yourself wondering if it’s really worth it. The ideal is striking a balance where you can make more without sacrificing that precious, irreplaceable family time.
You want to earn passive income– which you can do using the power of the internet and adjusting what you’re already doing.
Today, we’re going to talk about how to make more money without doing more work. We recently sat down with our friend and Rainmaker Family community member Natalie Argo. Natalie is an entrepreneur whose family business is regenerative farming. She shared with us some of the lessons that she’s learned about how you can do more with your time and earn passive income without doing more work.
Find Your Niche
When you’re building your business and trying to create passive income, it doesn’t really matter what that business is. What matters is that you find a niche and lean into it. When we were talking with Natalie, something that came up again and again was, believe it or not… worm farming.
No, really! Worm farming!
See, Natalie realized something important: Regenerative farmers and people who are learning how to start regenerative farming have particular needs, but it can be hard for them to find exactly what they’re looking for. Vermiculture or worm farming is a method of composting scraps in small spaces using worms to break down the organic waste rapidly. Because vermiculture is a common process used by regenerative farmers, it made sense for Natalie to create a resource people could buy and learn about worm farming. A little effort into this niche has created a steady stream of passive income. As a bonus, it’s boosted Natalie’s visibility.
Even if you’re not a worm farmer, you can find a niche within your business’s industry that you can make content about. If that content is educational and provides value, other people will want to use it– and that can mean a passive income stream!
Work Smarter, Not Harder
One lesson that’s important to learn is that when you’re creating content, you need to know how to optimize it. Platforms like YouTube analyze what you say for SEO purposes, so taking time to learn a little bit about scripting your videos for optimum visibility can be extremely helpful for boosting views. If you can rank higher for keywords that you use, more people will see your content.
We like to use gardening metaphors here on Rainmakers. Making more without working more is a mindset that’s all about planting good seeds. In the beginning, you scatter lots of seeds into various niches and see how they grow and multiply. Not all business niches will be fruitful– some will work out better than others. Those are the niches you need to tend and cultivate!
It’s also important to remember that for some aspects of business, there’s a steep learning curve. That’s ok! Just be patient and document what you’re doing. Seeds don’t grow overnight– they take time and nurturing to grow. So does your business. Passive income streams don’t necessarily develop right away. It can take a little time to find just the right niche.
Be One Step Ahead
When you’re working on your business, you should be documenting everything. Careful documentation means that you can track your progress, but it also means that you have a surefire stream of valuable educational content that you can turn into a revenue source! Even if you’re just one step ahead of other people, you still have something valuable to teach them.
There are lots of ways you can take documentation you've already created and turn into something that brings in extra income. You can take what you’ve jotted down and turn it into a YouTube video script, an ebook that you can sell, or even a course people can take! Your knowledge is valuable, and you will find that “common knowledge” is much less common than you’d think.
By taking your business development documentation and turning it into monetized content, you can set yourself up with a nice little passive income stream that lets you make more without doing more work!
More than ever, people are realizing that it’s more important to spend time with your kids and family. If you want to escape the daily grind and learn how to build wealth while still having the time to make treasured memories with your loved ones, join the Rainmaker Family! When you take the Rainmaker Family Challenge, you join a community of entrepreneurs just like you– business
owners who are in it for their families. Join us and learn how to make it rain!