More clients. More high paying clients. More business. More cash flow.

This is what my clients, contacts, colleagues tell me they want day in, day out.

They also want balance in life so that they are not working themselves into the ground.

The dilemma? More clients means more hours worked.

It’s actually funny if you think about it: you get a wave of new clients (good news) then you have to work alot of hours either face to face, chained to the phone, or get on an airplane to meet with them (bad news) Then, you’re finished with that engagement and you have to do it all over again – market to new people, engage new clients, work more hours to generate the revenue.

This is not freedom. This is trading hours for dollars. This is the challenge every service provider, consultant, coach, speaker, and trainer faces: How to grow the business without simply adding more hours worked.

The solution? Passive revenue. Who doesn’t love the idea of making money while you sleep? Is this easier said than done? Well, certainly, it is not a get rich quick promise. Yet passive revenue should be part of every entrepreneur’s business model

How do you generate passive revenue? The beautiful news is that today, technology allows us to service and educate more people, generate a steady stream of revenue, and greater flexibility of time, place, and ways to absorb information, motivation, and education more than ever before.

Enter: Elearning programs and products.

If your business is a service or information/knowledge based business, elearning offers you a treasure trove of opportunity.

What is elearning exactly?

Elearning or distance learning includes teleclasses or teleconferences, webinars, digital ebooks, edu-videos, digital infoproducts, pdfs, reports, audios and more….

Imagine taking what you normally deliver live in a a full day or two days after traveling a whole day there and back and now creating 7-8 learning modules that you deliver from the comfort of your office or home, and make them into tangible products that you formulate or create once and then sell and deliver over and over and over. No airplanes, cars, traffic, delays, or weather issues. And your clients get to keep the recordings, videos, powerpoints, and work on each module at their individual pace. You can even ensure their progress by requiring the completion of one module before the receipt of the next.

Many people fear that we cannot translate certain consultative information into elearning, or that we will lose the personal connection, and relationships, if we don’t do live coaching, training, consulting, or speaking.

Au contraire.

This is not a case for the elimination of live events. It is an invitation to layer into your business the method of elearning so you can multiply and monetize your services and information. Your clients will have a tangible product to refer to (this is huge as so many find marketing coaching and consulting difficult because they seem so intangible to prospects) and everyone can benefit from choice of when and where to learn.

To be fair, there are alot of elearning programs and products out there. A great deal of it is way too simplistic and poorly executed so people don’t learn as much as they can or want to. The key is to formulate your elearning programs with the following 3 essentials:

1. Extreme targeting – What will people get from the program, what solution(s) will it provide, and exactly who wants this information (knowing the specific pain points is critical in the design of your content).

2. Step by step, paint-by-numbers information delivery - Good elearning must be structured so that all questions are answered either by the actual course content OR through Q&A sessions, or FAQ’s.

3. Learning style variety – Different people learn in different ways. Some like to read, some like to listen, some like a combination. Audios, transcripts, Powerpoint slides, videos may all be required so that your elearning solution is delivered in ways your specific market prefers to intake info.

Do it yourself videos, audios, editing, powerpoint integration with audios have gotten so easy and so inexpensive that it will be a no-brainer to build your passive revenue through elearning programs and products.

For more information on how you can begin to build your custom elearning programs and passive profit streams, subscribe to my newsletter The Business Fox Bulletin at www.thebusinessfox.com as I will be publishing some high-content articles about elearning passive profits. And stay tuned for our new website and upcoming programs on passive revenue and elearning for your business.