Compared to my book, which fizzles out when I'm not actively marketing it, building a B2B subscription product is the best, most turnkey income source I've ever had.
Looks great. But is this passive income? It looks like you've invested a lot to get this off the ground, correct? How much time do you spend on this, let's say per week?
Passive income generally means that hours spent don't directly translate to dollars. All passive income solutions (that I know of) require some initial investment. Maybe "time-scalable income" would be a better term?
I understand that. But if you spend 80 hours per week on it, is it still "passive" or do you simply have two jobs?
To me the idea of "passive" income is that you might spend a certain amount upfront but after that initial push it doesn't require a lot of attention, i.e. passive.
Well if he's spending that much time on it, then yeah I'd agree, not passive. In the interest of naming arbitrary cutoff points I'd call anything more than 10 hours a week not passive.
Brilliant. What was your major set back from day 0 till now and how did you overcome it? I am asking you because I need some inspiration here. When I usually hit couple of set backs I tend to demoralize and give up.
Content marketing mostly, and over delivering awesome, awesome support that gets customers to refer others.
You can also do really well by just optimizing the hell out of the visitors/expired trials you already have. SO MUCH EASIER than attracting more eyeballs.
Doesn't all of the above take this out of the realm of "passive"? Or are you able to magically get all of that done in such a short time that you consider it negligible?
I spend about 2 hours a week total, so right - it's not totally passive... But I'm at the point now where I could outsource first tier support and maybe get away with no weekly involvement.
But I want more growth, so I'm still actively working on promoting Planscope.
Compared to my book, which fizzles out when I'm not actively marketing it, building a B2B subscription product is the best, most turnkey income source I've ever had.