Passive Income: A Simple Guide to Infinite Money

Passive income is great fun! At least that’s what many people want to make you believe and it’s not that it isn’t fun when it’s working, but it takes some time, effort, and resources to make it come true.

Now, there are lots of different types of passive income. At Odd Noodle, we focus on the passive income that can be made with an online business mostly focused on digital products.

First, it’s important to understand that you never get to put something up online and then wait around for the magic to happen. This is why passive income is seldom passive at the beginning.

Passive income requires active action.

But when you take the right action over some time then you’ll find that you can walk away from your business here and there and money will continue to come in.

That’s usually the passive income that many people are talking about.

what does it take to make passive income?

How Passive Income Works With an Online Business

This site that you’re on now is a perfect example.

We have no idea how you arrived here, but you are here and that’s awesome. You might go through this site, read the content, and then buy one of our books or join our course.

We don’t have to be around when you do one of those things.

For all you know, we are traveling around the Universe introducing people to the glories of Rainbow Sherbert.

But the only reason you arrived on this site is because we took massive action to put things in place and eventually we got to reap the rewards. But this doesn’t mean we walk away forever because if we want to continue to grow we have to continue to take action.

The truth is that passive income should be called absent income since you can be absent from the computer and still make money.

So how does it work?

Start With the Pocket Business Formula

All business follows this simple formula.

Audience x Offer = $$$$$$

So if you want to achieve passive income online then you need a way to consistently build your audience and sell them an offer that doesn’t require you to be around.

For example, we use SEO and blogging to bring people to our blog posts which then leads them to our offers.

All of these people are coming from search engines. That doesn’t mean we ignore things like social media because love to do social media.

But social media is mostly active (and that’s okay).

This is the simplest framework for building passive income online.

But to better understand it all let’s look at each variable in the formula above.

Building Your Audience

When we talk about audience what we really mean are the people that will buy from you and have bought from you.

We aren’t talking about the people who randomly follow you and then don’t do anything because those people aren’t going to help your business.

So your goal is to build an audience of True Fans who love what you do. When you have an offer they buy it. When you send an email they read it.

This is why you have to be careful with the people who promote social media growth. You might end up with 100k followers who do not care about your actual business, but they love your videos so they figured they would give you a follow.

Creating Offers

It’s easy to get overwhelmed with the idea of having to create an offer but it’s not that crazy. We usually start with a simple book that we can create over the weekend.

Over time you can build a nice offer portfolio that will allow you to continue to sell to your audience as you help them move along their journey.