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124 Passive Income: The 5 Blocks Holding You Back From Passive Income
“Making money while you’re asleep” has a good ring to it, doesn’t it?
But what if I tell you that while developing passive income, we can still have blocks?
In today’s episode, I want to share with you some of the blocks and challenges that I faced and you might potentially face while developing passive income streams in your business!
Free Resource: "Soul Why: Soul Rich Woman Blueprint" and "How to Delegate 80% of your to-do list" ---> https://be.soulrichwoman.com
Money & Me: Get anything you desire this year 5 Day Audio Program: https://www.soulrichwoman.com/money
I believe we can change the world. But first, we’ve got to stop living in fear of being judged for who we are.
Hi I'm Genecia Alluora, Founder of the #1 Leading Female Entrepreneur Network in South East Asia supporting 1 Million women to Own & LOve The F-Word. Being fabulous, having freedom, financial independence and Family.
With a challenge to women everywhere to stop TALKING themselves out of their dreams, Soul Why? Secrets of The Soul Rich Woman Blueprint identifies the excuses to let go of, the behaviours to adopt, and the skills to acquire on the path to growth, confidence, and believing in yourself to be recognised as a leader online. Get clients online and to have more impact on the world!
Stop Believing THE Lies ABOUT Who You Are so You Can Become Who You Were Meant to Be. You're Just an "F-Word" Away from The Life You Want, The Marriage You Want... The Family That You Want, Is Going To Be Fueled By The Business & Life You Build ... Join me, become a Soul Rich Woman. Alone we are strong, Together we are unstoppable!
Ask Me Anything & get featured on the podcast: https://podinbox.com/genecia
[00:00:00]
Genecia Alluora: This episode is brought to you by Instantpodcastleader.com, the leading platform to launch your podcast in 48 hours and make it profitable. Get your free audiobook and free web class at instantpodcastleader.com/webclass. I believe we can change the world. But first we've got to stop living in fear of being judged for who we are.
[00:00:27]
Genecia Alluora: Hi, I'm Genecia Alluora, founder of the number one leading female entrepreneur network in Southeast Asia, supporting 1 million women to own and love the F word. Being fabulous, having freedom, financial independence and family. With a challenge to women everywhere to stop talking themselves out of their dreams. Soul why - Secrets of the Soul Rich Women's blueprint identifies the excuses to let go of the behaviors to adopt and the skills acquire on the path to growth, confidence and believing in yourself to be recognized as a leader online, with clients online, and to have more impact on the world. Stop believing the lies about who you.
[00:01:11]
Genecia Alluora: So you can become who you are meant to be. You are just an F word away from the life you want. The marriage you want, the family that you want is going to be fueled by the business and life you build. Join me. Be a soul rich woman. Alone, we are strong. Together we are unstoppable. Welcome to the show.
[00:01:35]
Genecia Alluora: Hello, gorgeous. Welcome back on today's episode. My name is Genecia Alluora and I want to share with you the passive income blocks. That means the five blocks that is holding you back from creating passive income. Now, this is very real because I've created the multiple passive income streams with my digital products and my own businesses as well. But it has not been easy. I want to share with you some of the blocks and challenges that I faced and you might potentially face while developing passive income streams in your business. Okay? So first you have to get comfortable with selling. Now, passive income products are not going to sell themselves. You will need to spend a lot of your time developing sales funnels for these products, running launchers and activities such as webinars to reach large numbers of people.
[00:02:36]
Genecia Alluora: And the other day someone said to me, you are such a great salesperson and I instantly feel this ecky feeling as I hate being to be sold to. I hope she meant I was persuasive and convinced her on the benefits of our programs. You see, selling will only get easier as your confidence grows from seeing the results your customers achieve. Number two, comparing yourself to bigger competitors. You see, a lot of times when you already have built some small passive income streams, you will look at other people around you and say, wow, why this person is making so much wow, look at their business is so good and so great.
[00:03:24]
Genecia Alluora: I think it's not really awesome to compare yourself with others. However, I really found it useful to focus on how different you can be or I am different from them or what I have in my product or service that theirs do not have. So what is your unique selling point? What is my point of difference? What is your point of difference? Why are you so unique in your own way? What is your promise that you have made? I also look at their business structure and the different methods that they use and ask myself, is that what I really want? Do I want to run big events or have a video blog every week? So it really boils down to who you are as a person, what kind of diamond you have within you that is waiting to shine through.
[00:04:14]
Genecia Alluora: So it's really important to remain aligned to your business vision and true to yourself. Number three, stop comparing your prices. Now, the market is flooded with passive income products these days, especially now. Everybody has moved online and consumers have so much choice available to them. So it can be difficult not to base your price on something, on what other people are charging. But I want to tell you this. By matching pricing or price lower than your competitors, or matching your price with your competitors, or matching your money block to your competitors money block, you understand this? That means you base your pricing on someone else who may be pricing lower than what you're thinking of, and you are basically lowering your standards or lowering your bar, and you're matching your block with them.
[00:05:17]
Genecia Alluora: So that's why I made a choice to price my mentorship programs and my digital programs premium higher than competitors who might be more well known than me. The reason why? Because I am certain that my program, my mentorship, my coaching, my digital products offers more content and more support than theirs. And I am confident in the return on investment for my clients. And you know that this is what feels right for me. Number four, using your own money blocks to price your product. I mean, price is relative. You can't assume what feels expensive to you, or you will be expensive or out of reach to anyone or everyone. In the end, this is just about knowing your ideal customer, who you are targeting, who is your fish, and what is your value lagger, and what they're comfortable spending on your product or service. So you really need to be aware of that. Number five, You really have to get comfortable with money coming in more easily. Just looking at PayPal, looking at Stripe, so easy. Just pay la, pay now you, easily. I'm sure most of you will be thinking, money coming easy. Yes. But the thing is, if you always work long hours, you have back to back clients, you work very hard, you have this work very hard syndrome, earning passive income might really feel uncomfortable for you, and you might even block it without knowing.
[00:06:56]
Genecia Alluora: And the beautiful part about passive income is that you only need to do the work once. I repeat, passive income products, you just need to do the work once, but you can sell it to unlimited numbers of people around the world. One of my best selling product is my The 21 Days: How do you build your brand and confidence online, that course, $21 is my best selling product at that price point, and I've sold thousands of it. Can you imagine waking up looking at PayPal just coming in Stripe and just looking at my phone and all the notifications and receiving that $21. And imagine that. So easy, right? Now, making money doesn't have to be that hard, seriously. So get out of your own limiting belief, embrace that amazing diamond that is within you that is waiting to burst out with all these possibilities of making passive income by leveraging on the technology has provided with us to share our gifts and talents with the world and also having a great lifestyle balance.
[00:08:17]
Genecia Alluora: Now, please share this episode with a friend and share it with your entrepreneurial groups because Soul Rich Woman Blueprint are just an important topic for female entrepreneurs, and we all have the responsibility to clear them, to really shine and not just for ourselves, but also for the rest of our communities as well. We all have a part to play in this. This is your time and you are ready for the next step. The more you take action in a consistent way, the faster you'll be able to build momentum and grow your business. If you love today's episode, do remember to rate, review and subscribe our podcast on iTunes and Spotify, or any apps that you're using to listening in right now because it helps us to get found more easily. Someone might just need to hear this episode today. As always, I love you and I appreciate you and I thank you for being here. You are the reason why I show up every day to walk with you, not in front of you and not behind you. Thank you and I see you in the next episode and bye for now.
[00:09:30]
Genecia Alluora: Need more unstoppableness? Alleviate your status instantly in your brand, business, and life? This new free book shows Unknown Secrets to get from stuck to unstoppable without changing who you are even if no one believes in you or stand by you. We'll like to rush a free copy of a brand new book to your doorstep ASAP. Reserve your free copy now at makeithappensecrets.com.
[00:09:55]
Genecia Alluora: The key to unlock consistent success. The key to unlock that diamond within you. No other things involved. This is what you need to do and must do tonight. You can do it because I've done it. As long as you have a mentor who can take you from where you are now to where you want to be, you can shortcut your success. You can be different in order to make a difference. Turn your talent into your business. Turn your passion into a paycheck by being you, by being you and owning you. Give yourself a second chance. Never say no to your failures. As a woman, we have the power in our hands. Never let your fears hold you back. Quit thinking and start doing. Life is really short and keep pursuing what you truly ever wanted to achieve. Women come together. Alone, we are strong. Together, we are unstoppable. The Soul Rich Woman Blueprint is going to be transforming your life today, yesterday, last year. Because you took action today, I'm going to say more power to you.