There’s a lot of talk around the interwebs about building a business by making passive income. You know — the kind of income that brings sales into your business when you’re sleeping and turns your email box into a cash register — ka-ching, ka-ching! For most people that means they need to become affiliated with another company and promote that company’s products. Online, this is called affiliate marketing and there are tons of people silently creating successful businesses using this model.
One of the most successful is Rosalind Gardner, author of the Super Affiliate Handbook. Ros actually built her business using the affiliate marketing model and then wrote a book about it. She’s what they call a “super” affiliate. And because of her book, countless numbers of small business owners are using this model to find success online. I’ve had my share of success with affiliate marketing and creating passive income streams, so I know it works.
Another awesome super affiliate is Lynn Terry. Lynn has been in business for 13 years and using the affiliate marketing model for over half of that time. You might know Lynn from her masterminds group forum — a place on the net to get really great advice to help you grow your business. Lynn recently completed a thorough Super Affiliate Handbook Review so I tapped into her and asked if she would share her thoughts about passive income and affiliate marketing with you. Here’s what Lynn had to say.
Q1. Everyone seems to be talking about passive income. Is that really possible? Doesn’t being in any kind of business take a lot of work?
Sure it does. Entrepreneurs pour their heart and soul into creating successful business models. That said, there is a big difference between an active business model and a passive business model.
Both require an investment upfront, of either time or money – and usually both. Fortunately, the internet gives us the opportunity to start up highly profitable business models for an incredibly low monetary investment.
An active business model is one that requires your presence in order for it to operate. You’re either managing the details, or managing the team that is handling the details for you. In a service based business, you get paid for what you do – or trade hours for dollars.
A passive business model allows you to make money long after you’ve done the work, and requires very little maintenance to continue producing profit. My favorite passive income model is Affiliate Marketing, using SEO (search engine optimization) as my primary marketing strategy.
With this model, people find my pages by doing a search and they click through and make purchases from the merchants I represent. I don’t have to be in front of my computer, or accessible in any way for that sale to happen. I travel, take day trips with the kids, enjoy long naps and long lunches – and am always making sales.
Q2. Isn’t being an affiliate really just another word for “salesperson?” How does a non sales-y person succeed?
There’s not really any sales with Affiliate Marketing – that’s the merchant’s job. An affiliate only has to recommend and/or pre-sell the product or offer. We actually do this in everyday life, when friends or family ask us for opinions or recommendations. Or when we share our personal experiences with others.
There’s an art to the pre-sell, of course – but it’s easily learned. I have a 7-point checklist for writing product reviews that works out really well for me. You can download that checklist here.
Q3. So if I want to go the affiliate route, where do I start?
My absolute top recommendation is the Super Affiliate Handbook by Rosalind Gardner. It is very newbie-friendly, so it’s a great place to start if you’re not even sure what affiliate marketing is exactly. I first read it almost 6 years ago, and was already doing well with affiliate programs… but it boosted me up to the next level (super affiliate).
It is updated frequently, so I continue to read the updated editions and learn something new every single time. Rosalind is THE super affiliate, and is incredibly successful in niche affiliate marketing herself – so she’s the ideal source to learn from.
Thanks Lynn. So there you have it! If you’re still on the fence about dipping your toe into the affiliate marketing stream, pick up a copy of Rosalind’s Super Affiliate Handbook. At only $47 it could be one of the best investments you’ll ever make in your business.