In today’s business model, we will be creating a cool little passive income source to help out students with software they require for their university courses. The most beautiful word I wrote in the sentence above is “Passive”. Put in the work now and let it generate money for you while you sleep. All of our active income sources at RSE Investments are passive and that’s exactly how we like it.
Jumping right in:
Step 1: Find a software that you use on a daily basis, that you are exceptionally good at using. Believe me, you may not find yourself that good at it, but if you find yourself teaching people naturally at work, then you are above average. This is good enough for the purpose of this business model.
Step 2: Create videos or ebooks to teach students how to use the software in great detail. The video don’t have to be professional, but of a high enough standard that someone can learn from them. For example, if you are doing an Excel tutorial, the student needs to be able to clearly see the formulas you are using. This will be much easier if you choose to create a PDF (eBook).
Step 3: Sell your software courses on udemy.com — this is where the passive income comes in. Once your course is successfully launched on udemy, with a little marketing here and there on social media, you should start the sales coming in. Once you reach “Word of Mouth” status, you’re golden. The course will keep generating money for you. If you know some existing students, ask them what software they want to learn how to use. Then ask them to tell their friends about it and you’re good to go!
Your initial goal should be to sell:
- 25 courses/week
- That’s $250/week, or;
If you put in the effort (and I mean REALLY put in the effort) to make the quality of your videos/ebook exceptional, your work will speak for itself. You really shouldn’t have to do much once your course is up and running. Do not rush this. Remember, you are creating a passive income source. The very best kind of income. The income that people will ask you about when you start heading to the coffee shop in the afternoon instead of working away at the office. Yes, $13,000 may not be the income that will get you there, but once you understand the logic behind passive income, who’s going to stop you from scaling your operations? No one.
If you need me to expand any of the steps above, please leave a comment below and I’ll be more than happy to help.