Passive income is a myth and we need to accept it as such

Passive income is the holy grail of business. Or so we're told by business and marketing experts alike. Except – it's not realistic and likely won't happen for you. If it worked, those sunny beaches would be full of passive income earners living it up.

Here’s the bottom line: it takes a lot of work to make money off of courses, books, or guides of any kind, even if you have a large and engaged audience.

Let’s review the bare minimum requirements for creating “passive income,” and what I’d suggest you prioritize instead.

Business, Systems and ProcessesJasmine IrvenJanuary 4, 2024pricing, income, passive income, burnout, sales, sales messages, audienceComment

Perspective shift: Why I stopped using charm pricing

Ever heard of charm pricing? Maybe you’ve even used it before? Full transparency, I used to. These days though, when you go to buy something from me it's a nice, round number until the tax gets added on.

When it comes to your business, and more specifically your pricing, you should be doing what works for you and not worrying about what anyone else says – including me (at least on the number at the end of your prices). That’s not to say your pricing shouldn’t be thoughtful and strategic. Pricing decisions should be built directly into your marketing and business plans.

But there are much more important considerations than the look and appearance of the number you choose.

Systems and Processes, BusinessJasmine IrvenDecember 28, 2023pricing, prices, financial literacy, business finance, personal financesComment

Small business pricing and profits: The importance of aligning your prices to your values

Pricing can be tough when you’re a small business or solopreneur. As business owners, we’re intimately connected to our clients and our pricing. Because of this interesting dynamic, I find small business owners make more emotional decisions, modifying (or not modifying) their pricing based on what they feel their clients can afford.

It isn’t enough to simply pick a number that sounds good out of thin air for your program or service. It isn’t enough to just check a few items off your “marketing to-do list.”

Your pricing needs to reflect your values. And when you take the time to gain clarity on your values and goals for each of the offers you have, you’ll feel much more empowered to share about your business, promote your services, and find your clients.

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