A couple of weeks ago I told you that I don't think you should set passive income as your goal.
If you'd like to read that post, here it is.
I was concerned that you'd be bummed out by this message, but I heard from a lot of you, and everyone who replied said they loved hearing the truth.
A lot of the folx who replied are my Rebel Therapist clients and my colleagues who have built successful businesses beyond traditional private practice.
That got me thinking. If people who already run successful businesses beyond private practice know that passive income is kind of a lie, then why do so many beginner entrepreneurs think it's a great idea?
I think passive income has the beginner entrepreneur's attention because passive income is high profile. Passive income businesses require huge audiences and a TON of marketing, so we see them and we know about them.
(They also require big teams and lots of work. That's all in my previous post.)
On the other hand, businesses based on small-scale high-value offers within clear niches don't require huge audiences or a ton of visibility.
Tara McMullin of What Works was recently talking about how many of the small businesses she sees making great money put very little energy into marketing:
"Many of the most successful business owners I know spend very little effort on marketing and, instead, spend most of their effort on systems & operations."
Tara would know. She’s a business strategist who runs a network for small businesses.
I'm not trying to make Rebel Therapist into a household name. I'm not against it, but it's not my goal. I want to be the secret medicine behind visionary therapists and healers who are doing amazing work and making excellent money beyond private practice.
I don't need a huge audience for that. I need my programs to be highly effective, and I need the right people to know about my work. (Like you!)
Perhaps you're wondering what some of these other low-profile, high-quality, high-profit businesses look like.
Some of the signature programs I see making a huge impact and really good money without going passive are:
1:1 coaching
Small-group coaching
Retreats
1:1 and couple intensives
Masterminds
Courses with live calls
Workplace trainings
Many of these businesses are featured on Rebel Therapist Podcast.
So what about you? What might your ideal business look like?
I'd love to know.