A passive income is what many Kenyans need because the meagre salaries Kenyan employers pay isn’t sustainable. A hobby business helps set you apart by enhancing your earning abilities. Plus a side hustle helps you have extra income in spending money, entertainment money and emergency funds.
A business that can create a forever income (while you sleep) means you live a fulfilled life. A life where the money isn’t a problem but how to spend it.
Some ideas need to be your hobbies or what you love doing in your free time. This is a tip! And you can add more to this list.
A successful passive income comes from keeping a number of points in mind:
1. Knowing Your Brand.
A brand is your identity in business. Will it be your colours? Will it be the way you communicate in your business? Will it be the exemplary customer service you offer?
A brand is knowing your mission and vision and keeping the mission and vision alive always when interacting with customers.
2. What’s Your Marketing Strategy?
In order for your passive income to succeed, you need to develop a solid marketing strategy. A solid marketing campaign means, knowing your audience. Knowing the ins and outs of your products.
In addition, having a team that knows how to tell the strength of your brand products. Or would you rather have a business where you get phone calls all the time regarding a specific product because it wasn’t well communicated to your employees?
And to constantly promote your products without shame or fear. Knowing how to creatively come up with ideas of putting your products before your customers that doesn’t seem spammy or too salesy.
Marketing is about knowing the psychology of your buyers and working to fulfil exactly what your customers want. Marketing is also knowing where your customers hang out and strategically marketing to them.
For example, if selling children’s clothing, who buys clothing for children? Parents, of course. So, how will you reach to the parents? Where do parents hang out on social media for instance? Are there groups for parents for instance on Facebook? Are there some hashtags you need to engage with, into the market to your targeted audience?
When you have a solid marketing campaign, reaching your customers won’t be an upheaval task. You’ll already know how to communicate your message to them. And your real customers don’t mind you selling always.
Get into the knowledge of marketing by using Psychology of Marketing BluePrint.
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3. Begin From a Niche
I suffered from a lack of choice. Some people do have a choice, I don’t. Being a multi-passionate individual doesn’t make choosing a career easier. In fact, confusion becomes the middle name.
Now, if you don’t go searching for what you are great at, your ideas will die with you as ideas. No one will ever find out about them.
If for example, you have interests in writing, sewing, crafting, travelling, graphic designing, mentoring/ life coaching, you’ll first sit down with your pen and paper. Yes, pen and paper are the best way to decision making because you create a roadmap and a vision for yourself and brand.
Now, decide which of these is an umbrella. Which one swallows all of them? All these ideas get back to writing. Then, ask yourself how am I going to use writing and sewing in the same space? By creating sewing tutorials. How can I bring my graphic design work into the vision? By writing my designs down.
Now, start a blog or a YouTube channel, choose one other very passionate niche, maybe sewing. Create the best tutorials ever. Do consistently for six months or three months or one month. Whatever you decide, keep switching your passions because I know it’s not easy to let your passions go.
And whatever you do, remain persistent. You’ll be told to stick to one, don’t. This will discourage you. As time goes by, you’ll begin to see what really is your strongest passion/niche. Stick with it. Don’t throw the other niches away, in fact, keep bettering them. As one or two niches start paying, you can show the world you’re not done yet.
Multi-passion requires a lot of patience and non-comparison lifestyle, bear that in mind. You were born different and will remain different. Remember to always stand out and come up
4. How To Use Social Media To Market Your Business
What business doesn’t require social media these days? If you’re a business owner and haven’t embraced social media, you’re missing out. According to statistics, social media will only blow up. Why are you not part of it?
The various social media you to utilise depends on your business’ target market. For example, if you’re selling before and after pics as an interior decorator, the social media to utilise are Instagram and Pinterest. These are visual boards. Then, use Facebook groups having women dealing in or interested in decorating their houses. For example, the home of DIYers and Glam my Home. Make it lucrative by starting a YouTube channel.
Or you could start by uploading photos of your own home makeover and create an empire from it like this lady.
5. Keep Learning and Improving
Don’t look at what people are doing, look at what they are not. Find the gaps its gaps that made Steve Jobs famous. It gaps that make Jack Ma, Jack Ma. It’s gaps that make Oprah, Safaricom and Amazon. Then, keep learning.
Don’t be discouraged to go for money fast. Be encouraged to get to the people who deserve your products. Create content for them. You’ll also learn that sometimes, you have to do what the people love and what you love.
Be persistent, passionate and resilient. Keep improving your products and methods of delivery or packaging. Don’t do the same over and over. Change with the times and adapt your business to the NOW of doing business rather than the 1990s or 1900s as my mum would say.
What are the businesses you need to engage in to make a passive income as a Kenyan?
- Write a Book
A book is hard to write, I won’t lie. And even harder to market. Don’t stop writing though. The first tip in writing a book is researching. What topics are you good at? What can you write better? Is it biographies? How can you make a biography an interesting read? Is it fiction? What fiction genres are most read? Can you write in them? You don’t need to take writing courses, you need to write the damn book!
Choose a lucrative most-read niche and they include:
Not to say that other genres aren’t famous. It’s just that these genres have ready hungry readers waiting to devour the next bestseller.
Don’t stop writing non-fiction. The only downside with non-fiction is you have to keep updating the content.
2. Create an Online Course
Since the invention of online courses, online course instructors make a killing. Others have started by creating YouTube channels. Others by finding independent course creation websites and making a killing there like:
After your students graduate, other new students keep coming. As long as the content you offer is fresh and up to date.
Some famous online courses include:
Photography with a DSLR Camera
How to Become a Plumber
How to Create Online Courses and Sell Them.
Find a Niche, cannot insist enough every niche is lucrative.
3. Start a Laundromat
We’re going to need to wash our clothes all the time. We need to smell good. Starting a Laundromat needs for you to position yourself in a way that you cater for small orders including family and are ready to charge fairly. Regular washing and dry cleaning vary in prices, right?
Think of the competition and how to beat it.
4. Start an Online Store with Dropshipping
A business model where you don’t have to hold the inventory of the business is called Dropshipping. A dropshipping method requires a lot of research. To find out what people are really looking for.
To start a successful dropshipping business, you have to have a Shopify Store and Oberlo App installed. More of this in another blog spot. Some drop shippers make way above six-figure incomes.
There are downs to it too: like the delayed shipping or long shipping times. How does one avoid this? Know-How to Operate a Successful Dropshipping Business by subscribing to get updates when I create content or make videos.
5. Monetise Your Internet Content
Do you have a blog lying around where you slave away all day? Or a YouTube channel with 10 subscribers and are hoping to make money? Many will tell you to wait for your subscriber list to grow. No, you don’t have to. Start selling your products asap. Monetise that content because a hobby dies down when it doesn’t have supplies.
6. Create Downloadable Products
I fell in love with digital downloadable printable products last year. It’s a fascinating way of an eCommerce store because your customers don’t have to wait for products. They get them in their email inbox there and then.
I delved into the greeting card business and now cannot stop creating.
Check out my designs here on Zazzle.
And I’ll soon be updating them to my Shopify Store.
And you can get my products on items you love for branding like T-shirts, socks, backpacks, pillows.
7. Jump into Real Estate
Selling and buying houses has been my dream since I was a little girl. The dream came true. I’m not there yet but I love the strides. You know, you can never go wrong in investing in houses.
And in 2019, you don’t have to sell houses you Airbnb the empty ones. Get into the Airbnb business as a Kenyan Realtor by reading this guide.
8. Freight Moving
People transport goods all the time. We need to move houses, goods. Buy a trailer or start with a lot and there you go! Look at Buzeki.
9. Get into the Automatic Car Wash Business
Car lovers die for a place where their cars get cleaned to their finest details. Because a perfect wash means the car won’t be needing repairs soonest. It means the car owner is set for months. People are buying cars and will look to buy cars. In fact, Kenyan statistics show that cars will only increase in number as the middle class keep acquiring products. Your business will increase as the car demand in Kenya increases.
10. Affiliate Marketing
How would it feel to get paid to promote other people products? That’s what Affiliate Marketing is about. You promote products and you get paid for it, a commission. I do this with my pillow sewing empire. Start your pillow business by ordering from me.
I guarantee results in six months. I teach you how to handle customers. How to market, where to market. Get more info about my pillow affiliate business here and how my pillow sewing empire started.
What passive income venture are you going to dive into in 2019 as a Kenyan? Why or Why not?
Engage with me, I’d love to hear your thoughts on passive income and if they are a business model you’d employ as a Kenyan entrepreneur.