You don't reach a sudden point of knowing everything, learning and acting should really work in conjunction with each other.
I have started working on creating a coloring book in Canva to sell as a digital product. That is awesome because I’m not just reading about passive income; I’m creating a product that can actually have the potential to become a source of income! There will be always more things for me to learn.
(What type of digital product to create?
What marketplaces are available?
How to price a digital product?
Keywords that customers are using for digital products?
How to marketing a digital product?
Customer preferences…)However,I shouldn’t be consuming all my time on watching tutorials on YouTube, reading blog posts or even doing further research into new business ideas. At one point all the extra information will only start to weigh me down without necessarily serving any purpose, unless I can practically apply what it will offer. For me, I think I should approach this process by learning, implementing,Publishing and refining.
For instance, if I learn a better way to cover my coloring book, then implement that by improving my cover as I am creating my coloring book.
If I learn of a better keywords to use I will put those keywords into my listing when I upload it. If I learn about any marketing techniques to increase sales I am going to put them to test! I may not create an amazing and high converting product with this first coloring book but it should be a test run that can tell me if people are going to be purchasing my product and how I can further improve in the future! What to do after I publish my digital product for the first time?
The process will be: Publish my first digital product, measure the sales, try different marketing strategies and create the next digital product.
Passive income is not entirely “passive”. Digital products can sell with very little input or additional effort on my side on a constant basis but making sales and building that passive income will definitely need input, testing,marketing, and of course creating additional digital product. For me the main question is not “When should I stop learning?”
but “What else do I need to know in order to get closer to my next steps?”. I will keep on learning but make my learning is going to be directed towards action rather than endless consuming information. My objective is not to wait till I will be expert before doing any of it, instead, I'm going to start, experience it, learn and then continue!
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