The 4-Step Plan I Followed To Make $1,800+/Month in Passive Income

I’m all for passive income.

Who isn’t, right?

It’s a smart way to create income streams for yourself that you don’t have to actively manage in order to continue earning in the future.

When this year started, my goal was to create an actionable plan for making more passive income. I decided on an income stream and then, put my plan into action to make it passive-income producing.

Since then, it has turned into a $1,800+ per month income stream for me with a lofty goal to hit $5,000/month in passive earnings by the end of the year.

Here’s everything you want to know about how I did it and the plan you can clone to do it for yourself.

Let’s go!

How I built an $1,800+ per month passive income stream

Before getting into the 4-step plan that took income from zero to $1,800+ per month for this income stream, I started by picking an income vehicle.

There are many paths you can take with passive income:

• Investments
• Real estate
• Short-term rental of your home or car
• Courses
• Ebooks

I decided to go with ebooks.

Ebooks are incredibly easy to create. They don’t have to be expansive 20,000+ word books (unless you want them to be) but instead, short, digestible e-books or e-guides that can be consumed in a day.

I had experience with ebooks many years ago but, I didn’t see the growth and income that I envisioned at the time so I gave up on it for a while, until this year.

With ebooks chosen as my target passive income stream, I put my 4-step plan into action.

Here’s what I did…

4 Steps for Building Your Passive Income Stream

1. Choose a topic
2. Outline the book
3. Rough draft + Proofreading and editing
4. Launch

Step 1. Choosing a topic

I picked topics I was knowledgeable about. The goal is to solve a problem for your audience. Your ebook will be the solution.

For example…

Problem: Paying off student loans

Solution: Actionable plan for paying off up to $100K in student loan debt in 3 years

Problem: No growth in online business

Solution: Business coaching/mentoring to identify and overcome obstacles that are stifling business growth

Problem: Lack of growth on Twitter

Solution: Guide for when, where, and how to post on Twitter to encourage growth

Think about pain points your audience has and create a solution for it with your book.

Step 2. Book outlining

This is about creating a rough draft of your book.

Think about:

• What topics and sub-topics do you want to cover?
• Are activity worksheets/templates/quizzes included?
• Is there an online community available for students to connect?
• How will the book be arranged?

Once you outline your book, it will become much easier to start writing. You can group your thoughts into chapters or sections, based on your outline.

Step 3. Writing the book, followed by proofreading and editing

You’ll write your book. Read it and then re-read it. Then, proofread it for errors or hire a proofreader and do your editing.

In this step, consider giving the book to someone else to read.

It’s a good idea to get a second opinion on your content so you can get unbiased feedback and ideas for improving it before going live in your launch.

Don’t be afraid to spend money here.

You can hire a proofreader and editor, saving you time and getting quality work in the process, so you can get that much closer to your launch date.

It’s tough when you do it all yourself so investing, is a smart way to outsource some of the steps so you don’t spread yourself too thin.

Step 4. Launch

There are many ways you can create an ebook launch…

• Start creating buzz before your launch and build an email list
• Focus on organic marketing
• Invest in paid ads
• Go with influencer marketing
• Content marketing
• Share with your personal network

Pick a strategy, put it into play, and take action.

I went with content marketing and email marketing.

Takeaways

These are the steps I followed to launch my books.

I chose website flipping and faceless Tik Tok business as my topics to tackle. I have experience with both and I knew I could teach both topics to my audience, helping them build businesses and grow their income through both channels.

What do you think?

Have you created a passive income stream for yourself? What did you do to build it up?

Want to read more stories like this? Check out my Substack where I talk about side hustles, social media, content creation and business.