Here's how you see it coming down the line... you set up an online retirement business about something you already are an expert at, then you set up a payment processor that collects the money and delivers your product without you being there, then you start earning passive income night or day, and, finally, you (mostly) sit back and enjoy your retirement! This may seem like a dream, but it has the potential to come true when you set up a membership retirement business model.
Here's how membership sites work:
People subscribe to your membership site to get your digital info, physical info, discount coupon, software, or whatever you offer, and pay you every month for it. It's up to you to feed your members new stuff - the stuff they want - every month to keep them happy and continuing with their subscription.
You create the material once and sell that same material over and over again with the membership business model. You can even limit the membership to a certain time period, such as three months or one year, and continue to offer the membership to new potential customers. This is continuous passive income at it's best!
Here's how to get a membership site going:
Make a list of what you know, or what you feel you can become an expert on fairly easily. Remember, an expert means you know more than someone else; you don't have to know everything on the subject.
Do research and find out what topics people are willing to spend money on. If you find a good one that meshes with what you know, you might have a winner.
Decide on the details - the best way to set it up, method of delivery, how often delivered, how much material and in what form, and so on.
Get to work creating the material and establish the framework for each month. Think pdfs, audio interviews, how-to screenshot videos, ebooks, PowerPoint presentations, Q and A, member-only webinars, etc. Consider outsourcing to get some help with the creation. Always give your subscribers more than they expect.
You can start your membership site before you have all the material created, but know that it can be stressful always trying to stay one step ahead of the members. It's better to stay at least 3 months ahead to give yourself some breathing room.
Once you've got the whole thing up, it's time to market your membership. You may have completed your membership info for a whole year, but your job is not finished. You need to market the heck out of it to get subscribers. Never stop marketing it because for various reasons, some people will leave the membership before it's finished and you'll want to replace them.
Having a membership site(s) means creating the material once and having continuous income coming in from your many members through the lifespan of the membership site. This is steady income you can be proud of.