Have you seen the animated movie, ‘Minions’?
Even if you haven’t actually watched it, you may recognize those funny little yellow characters from the film.
They are obliging, patient, hard-working little guys who are perfectly happy to do whatever is asked of them. They are good-natured, and will do everything in their power to serve the person who looks after them.
A Minion, for your online business, is something which you create, and own, that always does your bidding. It is good-natured, always on your side, and will work for you to free you up to focus on other things.
When you run your own venture, and you are responsible for every aspect of your business, it can be incredibly time-consuming. You have your customers to deal with. You have to do marketing, accounts, communications, finance, product creation, social media updates, product development, competitor analysis, market research and many other tasks just to make sure that your venture stays current and provides a great product or service for your customers.
It’s pretty exhausting to run an online business, well.
The number of different skills you need to keep things going, combined with the pressure of having ultimate responsibility for the success of the venture can take its toll. Inevitably, when our business reaches a certain level of success, we start to cast around for things which we can do, to alleviate the pressure of maintaining it at that level.
When I started out as an online business owner, I had a lot of ideas.
I was going to change the world!
I wanted to set up a service where I supported people like me, who wanted to make a living purely online. I was going to help every single potential online business owner by developing websites and blogs for them, and helping them on their way to becoming internet millionaires.
My motivation was not purely altruistic, obviously.
I also wanted to make an equivalent income to the one I had left behind when I walked away from the corporate grind. However, I was optimistic that I would be able to give people my time and knowledge, and get paid adequately in return.
The model worked brilliantly…for a time.
But, there came a point where (for example) my services would get recommended to four or five people in one week. Everyone wanted a website – yesterday! I found myself struggling to keep up with the demands of the job, as we each only have a certain number of hours we can devote to our customers, providing a one to one service.
I learned about passive income when I was hunting out ways to work smarter, not harder.
I was at the point where something had to give. Instead of freeing myself up with more time, and more money, through my online venture, I was finding myself stretched beyond all reasonable capacity, trying to squeeze out more hours in every day to support my clients.
At this point, for all of us, when we step back we can clearly see how passive income is the equivalent of creating our very own obliging ‘Minion’ to help us out.
For my own business, I created a ‘Minion’ in the form of a series of eBooks. I invested a little time and a lot of passion into creating a series of guides for people which answered the top questions my customers asked me, every day.
I published the guides, and left them alone.
They started to sell.
I would wake up in the morning to check progress, and find that my Minions had been generating revenue and supporting my clients, while I slept.
This is the beauty of passive income opportunities – it’s about creating a single product which supports your customers, that you can walk away from, safe in the knowledge that it is furthering your business strategy, and supporting you to reach your goals.
If you’re struggling to find enough hours in the day to help your clients, it’s time to step back. Create a Minion to work with you!
Develop your own passive income products, and achieve a way to work smarter, not harder.