There’s a lie out there about passive or leveraged income. And it’s around the idea that if you just create passive income, or a group program, you’ll never have to work again.
Maybe this thought has gone through your head too?
In this podcast episode of my series: 4 Things I Wish I Knew Before Becoming an Entrepreneur I’m breaking down this lie and telling you the biggest secret of all:
PASSIVE + LEVERAGED INCOME IS A FULL TIME JOB.
Now, I LOVE leveraged income. My group program - the Accelerator - is an leveraged income group.
It also means that to enroll people in the group - I or Ira, my virtual assistant, have to full time job/ work tasks like:
Create social media posts, reels, graphics
Brainstorm, record, edit, caption, upload and post to social media the podcast
Write + schedule launch emails
Get people to know about the wait list
Do workshops with other brands/companies to get the word out
Run ads
Host the back end of the program, continue to make updates and upgrades
Evaluate client feedback forms
Get client case studies
Host the actual client calls and review client work
Run my annual client only virtual planning retreat at the end of each year
Bookkeeping and financials
Updating systems + processesAnd more things I’ve no doubt forgotten. You know what all goes into running a business.
Running a leveraged income business is just as much work as running a 1:1 business - if not, more because due to the nature of it, you have to create more assets, more content; you get to a point where you need more people on your team and it can seem like the back end tech work is never ending.
I also love passive income! AND if you want something you’ve created to sell, over and over again, you have to put in the work to market it, talk about it, get testimonials for it, update it as needed.
You can’t just upload things to your website and call it a day.
Leveraged income is great. Passive income is great. 1:1 income is great. They ALL require work. Knowing THAT when you go structure your business can make all the difference.
💃 GROUP PROGRAM - Enrollment for the next class of the Accelerator: Create Your High Dollar Signature will open in August 2022! Get on the waitlist to be notified of everything first.
🙋 1:1 PROGRAM - I have select spots available to stylists to work with me in the Accelerator program on a 1:1, tailored basis. The 1:1 program is best for stylists who have a consistent or growing client base, do not have the systems, processes in place to grow their business, want to implement a signature service to take it to the next level, and are ready and able to make an investment in their business growth. Is this you? Apply here.