A passive income is a holy grail for every online entrepreneur. We all aim for a portfolio and a marketing system that will allow us making money while sleeping.
It’s not an easy task to successful setup a passive income. It really depends a lot on what kind of digital product you make.
Usually, when it comes to a passive income, it refers to a product which is sold repeatedly. Say you will create a nice course about investing. You want to be able to sell this same course over and over again. You want to invest your time only once and enjoy the neverending stream of new income.
I have something even better for you! I will show you how you can create a 3-in-1 product you’ll be able to sell on three totally different markets. This way, your one product will act as 3 products, one for each of those separate markets. Yet you won’t create three products, but one.
No, it’s not about dividing your one product into 3 parts and selling each of them separately. This about the ability, to find 3 totally different markets for one single product where you can sell it for different prices to different audiences.
This strategy involves finding those 3 markets even before you start.
You need to know where you will:
- Sell the actual product
- Sell your know-how about creating the product
- Sell a blueprint or a template, so others can repeat your steps without the hardest part – making the actual product
I have found those three markets and I’m about to show you a concrete example now, which works for me. Hopefully, you will find some inspiration in my setup for your own business.
Welcome to the world of iOS development and before you freak out, close the lid of your notebook, turn off the PC or simply close this website, give me the chance to fully explain how easy it actually is to constantly profit from one digital product of this kind.
iOS platform is getting bigger every year. Apple has sold already over a billion iOS devices. That’s a lot of potential customers for your iOS application.
Apple’s customers love their iPhones and iPads. They are sometimes called sheep because they seem to buy everything with Apple logo on it, but for you, it’s actually a good thing because they don’t mind paying premium prices for devices and they definitely don’t mind paying for the apps, which is not the case for every platform. Especially Android users sometimes prefer the other ways of “getting” the apps, which is bad for developers.
More and more programmers are leaving their current specialty and moving to iOS development because they know very well that they can make a lot more money by developing applications and games for iPhone and iPad. They just go where the money is.
Apple helps developers by delivering amazing tools (Xcode) and easy to learn and understand programming language (Swift). It’s never been easier to start an iOS development career.
iOS platform is so huge, that you can monetize your product in many ways
But this is not all, this is actually just the beginning. You see, iOS platform is so huge, that you can monetize your product in many ways. You can publish it on the App Store, but since the competition is fierce there, you need to compete either with quality or the price. But it’s not enough anymore because even AAA titles like FIFA are available for free or very cheaply.
Meet my strategy
My strategy I want to tell you about involves App Store, but not as your primary source of income. It’s more of a marketing tool. You probably know that Apple heavily restricts what can be published on the App Store. It’s a walled garden where only those apps meeting notoriously high quality requirements are allowed.
When your app makes it to the App Store, it’s a proof that it’s good. Use this fact for you marketing efforts when you promote your product on the two other markets where you actually earn serious money. Those two markets are the very reason why you should start iOS development.
- Learning platforms
- Templates platforms
Unlike the App Store, those two markets have many variants. In the case of learning platforms, you can publish your course about making your iOS application on many different marketplaces, like Udemy, Skillshare or Curious. You can also create your own online school on Teachable or Thinkific or you can setup your own self-hosted online school with LMS plugins for WordPress.
Here’s the example of my own setup:
1. I started with Catch The Snake game for iPhone and iPad. I published this game on the App Store, where it’s available for FREE: https://itunes.apple.com/us/app/catch-the-snake/id1092638627?l=cs&ls=1&mt=8
2. Later I took this game and recreated it from scratch while recording the whole process. That’s how I made my first Udemy course. This course is available here: https://www.udemy.com/catch-the-snake-ios-game-from-scratch-to-app-store. To save time, record the whole process of making your iOS application from the beginning, so you don’t have to recreate it like I did.
3. I took the same content, made a package with some instruction for reskinning and posted it on SellMyApp: https://www.sellmyapp.com/downloads/catch-the-snake/
4. Finally, I chopped this course into 20 parts and released it as a series on Skillshare: http://skl.sh/2aEf41O
5. On top of that, I also published this course at my own online school hosted on Teachable: http://learn.bohemiapps.com/p/catch-the-snake-ios-game
When you think about your next digital product, make sure you can reuse it. Create something you can sell not only on different marketplaces of the same kind, like learning platforms. Try to come up with something you can sell in many incarnations on totally different markets.
I believe I’m not done with Catch The Snake. I could still remaster it for Apple TV and write a book about programming this game.