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. 

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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. 

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How-to guide: learn to brand yourself with words

What you do, what you say (and the tone you say it in), who you are, how you help your clients or audience – each of these elements create an imprint on the world. You don't get to have control over your brand, but you can heavily influence it by thinking about how you want others to perceive you. 

Honing in on your brand voice, tone, style, and values can help you decide what marketing actions you will take (and which you’ll avoid) to reinforce the traits, values, and perspectives you want to emphasize about your company. 

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Goal setting and planning your marketing for a new year

The New Year is around the corner which means it’s time to get planning.

While it’s never too late to start this process, you’re sure to feel a sense of relief if you tackle it early – giving yourself clarity on where you want to go and what you want to achieve. 

Once you’ve developed a sense of your goals, it’s time to embed them into your business strategy for the year.

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Choosing marketing tactics based on what works (even when you don't like it)

All too often I speak to clients about various tactics in marketing and they scrunch up their faces (giving me a clue that they're not on board) and then share their feelings about said tactic(s). Now, I'm not one to push anyone to do something they're really against doing. But, the objections I hear from clients are often about personal dislike of something, which is a whole different conversation.

While you can always make business and marketing decisions based on your personal thoughts and feelings, in doing so you are missing out on the opportunity to create a well-rounded marketing strategy. Here’s how to approach your marketing instead.

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