Day #22: Passive Income with Your Virtual Assistant

The highest summit of delegation is finding a way to make passive income with your virtual assistant.  Now, I have to admit that I am new to this aspect of delegating, but it is very possible to take the talents and skills of your virtual assistant and use them to create products that you can sell online over and over again.  Don't get me wrong, this still takes a lot of hard work on your part up front, but it's ultimately worth it .

Here are some ideas on creating passive income streams.

Oldie but goodie: create an ebook

I think that people underestimate the value of what they know (myself included).  When I write an ebook, I have no idea if it is going to sell or not.  It's scary.  However, rather than fearing whether someone will buy my ebook or not, I focus on sharing the information that I've gathered rather than my pocket-book.

If you are worried about whether your information is valuable enough to sell or not, ask yourself these questions:

  1. Have I paid to learn the information that I know?
  2. Would I pay to learn more about what I know?
  3. If I have paid, or would pay to learn more, what's keeping me from making a product based off of my information?

All that being said, you can semi-easily create an ebook using a virtual assistant.  Here's what you do:

  • Create a mind map or an outline (or both).
  • Gather all of your blog posts, articles, etc.
  • Create audio information using your iPhone, or other recording device.

Give all of this to your virtual assistant and then work with them to create a first draft.  After the first draft you may want to include things like interviews from experts, questions from your readers, checklists, etc.  While you are making the information, your VA can write it and format the entire thing.

WordPress plugins or other software

If you are a blogger, or use a computer to do your work, there is ALWAYS something that you wish you could do easier or faster.  Take that wish and give it to your VA (if they are a developer).  When you scratch your own itch, you'll know exactly how that product should function.  Not only that, more than likely there are thousands of other people who wish they had the exact same thing.

Once you've developed the product, you can use something like e-junkie to sell it online and even create an affiliate program.

Membership sites

People underestimate the value of the hobbies that they have.  There are TONS of people who pay for sports related subscriptions, model airplane subscriptions and so on.  Take your hobby and have your virtual assistant create a membership website where people with your same interest can receive and share valuable information.

Other ideas

  • Create checklists and cheat sheets for a specific class or certification
  • Have your VA create a video product based off of your public speaking talks
  • Have your VA create an audio product from your podcasts
  • and so on..

Action steps: take inventory of your talents

Everyone has a talent of value (even underwater basket weaving).  What talents could you make into a product?  Ask people in the comments in the comments if they'd buy your product.  Seriously.