There’s a saying you may have heard: “the rich get richer and the poor get poorer”. The reason for this? Wealthy people approach a situation looking for opportunities and those opportunities usually result in passive income. Those who are, unfortunately, already struggling tend to focus on the challenges it presents and so rarely get the opportunity to create passive income from multiple streams.
It’s understandable that many consider current conditions challenging for running a business and making money right now. Passive income is no different because in the current climate the only certainty is uncertainty. Yet if you can shift your perspective, you’ll recognise the immense opportunities that still currently exist all around you.
Here are my TOP 3 opportunities for making passive income in 2022. When I use the phrase ‘passive income‘, what I mean is you put in the work once to create the asset, then receive passive income from that asset on an ongoing, recurring basis.
My first opportunity is taking advantage of the rise in decentralised businesses. Decentralisation is a peaceful-rebellion against globalisation, where monolithic corporations have gradually overwhelmed and assimilated smaller businesses. The globalised corporate landscape is now dominated by a few key players such as Apple, Amazon, Google, Meta, Microsoft and so on.
But decentralisation has begun the process of shifting the power and control back into the hands of the many rather than the few. Here are 3 main ways decentralisation is shifting:
- Decentralised Finance, also known as De-Fi, provides an alternative to the conventional banking system by using blockchain technology
- Decentralised money in the form of cryptocurrency. A self-regulating means of storing and exchanging value that isn’t controlled by governments. There are numerous incarnations of cryptocurrency including Bitcoin, Dogecoin, Ether etc.
- Social media platforms have decentralised the previously dominant media industry. Platforms such as YouTube, Facebook and Twitter have dethroned empires like Fox, HBO and Sky
Opportunities exist for creative entrepreneurs to compete on a level playing field with mainstream media and influencers, with the same potential access to consumers world-wide. New platforms like Rumble, Twitter Spaces, Fireside are launching for the benefit of creators looking to expand their reach. I have my own presence on Clubhouse which currently has nearly 300,000 subscribers. I obtained 100,000 subscribers in 4 months, so the potential is there, you just need to work at it.
Anyone can create an NFT or launch a social token on a blockchain. You may think it risky or daunting to exploit decentralization, but the real risk is to ignore the opportunity. In early 2022 I launched my own range of NFT’s that provide exclusivity.
The control and power are in your hands and the time is now. You must get over any technical fears you may have.
Passive Income from ‘The Creator Economy’
Getting this right will earn you multiple streams of passive income from virtually all social media channels. Instagram lives, Facebook audio rooms and podcasts are just a few of the current ‘hot’ opportunities. Together with conventional channels like YouTube and blogs, there are multiple ways for creators to connect with audiences and share their content.
Everyone can spare 15-minutes each day to create content. Aim for three shorter pieces at 5-minutes each, published on one platform, or one longer piece shared across multiple platforms. This should be enough to grow an audience whose attention can then be monetised.
Your content is your asset. Create and publish written, audio, video and live versions of a single asset and suddenly you’ve got multiple pieces of content to leverage across multiple channels, quadrupling your output from a single recording.
Assets can be monetised by running ads, promoting paid events, enabling supporter schemes, selling subscriptions and in many other ways. Each of these generates recurring, passive income provided your content is evergreen and highly valuable to your audience.
You don’t need a costly studio set-up. With a couple of old iPhones on stands and a microphone, you’re ready to go. Content can be simultaneously broadcast live on multiple channels and recorded for re-use.
The key is to get started now. We’re early in the life of these opportunities, but fear will prevent many from taking the leap.
“Be fearful when others are greedy, be greedy when others are fearful”Warren Buffet
The Subscription Business Model
The final opportunity that can bring your passive income in 2022 brings is subscription based revenue.
My own subscription site rob.team – can be accessed for just $5 per month. It’s a low price which represents a minimal barrier to entry compared to the fees I charge for masterclasses and training courses.
Subscribers gain access to similar content as on courses, but enhanced with premium content. Large numbers of subscribers join and consume my content thanks to the low price-point. In return, creators receive recurring revenue as membership grows.
The subscription model will be massive in 2022 since it represents better fair exchange. Costs are low for the content creator and value is high for the consumer as they’re getting a lot for their money. A high ‘bank for your buck’ value is key to keeping your audience onboard. It’s the same principle as Netflix offering a vast catalogue of videos on-demand, or Spotify providing enormous catalogues of streaming music for a monthly subscription.
Build your own subscription site and produce high quality, engaging content that others can consume at a low cost.
Fill it with the five main types of premium content that I share on rob.team:
- Premium content (not available elsewhere for free)
- Masterclasses and deep-dives
- A member’s community
- Access to live meetups
- Members challenges
Once it’s built, watch as recurring revenue flows in return. Have you got any others that I may have missed off?
Have a question or wish to find out more? Then simply get in touch with me today and a member of my team will be on hand to help.