Business of VO: Passive Income

Hey you – stay passive – come on, you can do it! Yup, you read that right, The Bosses want your business to be passive! Because when it comes to income, passive is the new active! Many entrepreneurs view passive income as their final hurdle. The missing key to life-long success and we couldn’t agree more. So grab a chair, kick up your feet and come get passive with us!



Takeaways

Quick Concepts from Today’s Episode:


  1. Anne and Gabby are so flipping excited about this topic; they can’t stop talking over one another!

  2. Making money while you sleep, when you’re not working, even on the weekends. This is Passive Income.

  3. Business owners feel the most accomplished when they start to build passive income.

  4. They also begin to secure a solid retirement when they begin to secure passive income.

  5. Most voiceover actors think that passive income isn’t possible and will never happen because our job is dependent on us being ‘active’ to make money.

  6. Residuals create passive income for some voice actors but they are not reliable.

  7. Audiobook profit/royalty sharing can create opportunities as well.

  8. That’s why this episode focuses on ways that you can make passive income that is apart from voiceover.

  9. Coaching, courses, instant downloads, and other educational products can create passive income streams.

  10. Physical products can create passive income as well but require manufacturing.

  11. You must have a unique product, service or sales position for passive income to be generated.

  12. Voiceover actors have scheduling freedom and can use that time to cultivate a side venture.

  13. Anne creates and sells her Vocal Essentials line of products.

  14. Gabby creates and sells jewelry, gemstones & minerals.

  15. As voiceover coaches, they both have passive income in the form of related voiceover products & services.

  16. And now they are creating new passive income streams together.

  17. You are not a failure if you don’t make 100% of your money from voiceover.

  18. A side hustle makes you a better business owner all around.

  19. Creative outlets keep us from becoming stagnant.

Tweet This

Share ideas with your own network ++

Passive Income is the Entrepreneurial crown – the holy grail of business. #VOBOSS Click To Tweet

I am preparing for a glorious retirement! #VOBOSS Click To Tweet

I offer something no one else has! #myvoicemakesmoney #VOBOSS Click To Tweet


Referenced in this Episode

Direct links to things we brought up ++

  1. Abacus Studios https://abacus.nyc

  2. A Great Book by This Author

  3. That thing we liked on Instagram

  4. Recorded on ipDTL

Full Episode Transcript

>> Today’s voiceover talent is more than just a pretty voice.

>> Pretty voice.

>> Pretty voice.

>> Pretty voice.

>> Today’s voiceover talent has to be a BOSS.

>> BOSS.

>> A BOSS.

>> A BOSS.

>> Join us each week for business owner strategies and success with your hosts Anne Ganguzza and Gabrielle Nistico, along with some of the strongest voices in our industry.

>> Rock your business.

>> Rock your business.

>> Rock your business.

>> Like a BOSS.

>> Like a BOSS.

>> Rock your business like a BOSS.

>> Rock your business like a BOSS.

>> A VO BOSS.

>> A VO BOSS.

>> A VO BOSS.

Anne: Hey everybody. Welcome to the VO BOSS podcast. I’m your host, Anne Ganguzza, along with my entrepreneurial BOSS bestie, Gabby Nistico. Hey Gab.

Gabby: Hi.

Anne: Gabby, today, I think we should talk about one of my favorite topics, although we always talk about my favorite topics. [laughs] One of my favorite topics, and I think it’s yours too. How to make money without working.

Gabby: Yeah, well, this is defined in a lot of different ways for entrepreneurs. Right? This is making money while you sleep.

Anne: Yes.

Gabby: This is making money when you’re not working, making money on the weekends.

Anne: Yes.

Gabby: Passive income.

Anne: Yes, passive income is, yeah, the term that I think we all know and love.

Gabby: It makes me tingle. [laughs] It gets me so excited, the very, the concept, the thought of it, like what it represents. It’s because I think truly –

Anne: Sorry.

Gabby: Go ahead, go ahead.

Anne: I was gonna say –

Gabby: This is the problem. We’re both so damn excited. [laughs]

Anne: I know, it’s like the entrepreneurial crown.

Gabby: It’s the holy grail.

Anne: It is.

Gabby: Yeah.

Anne: It’s like, I’ve earned my crown when I have, I have succeeded at passive income.

Gabby: Oh for sure.

Anne: And how many different ways can I make passive income? I love it.

Gabby: Oh. [laughs] There’s the big picture piece. But I think for most business owners, they don’t really, truly realize their potential for longevity and success and retirement until they figure out this all-important piece, until passive income becomes a regular part of their job.

Anne: I don’t know about you, Gabby, but I am preparing for a glorious retirement, and in doing so, my brain, my business brain is thinking differently now. Maybe not differently, but it’s more focused – it’s really focused on, how am I going to secure income in the future so I can live and travel the country like I want to do and do everything that I want to do? Passive income is right there at the top of the list. So let’s talk about passive income, and how do we start planning for it, Gabby?

Gabby: Let’s back up one step. Let’s address the voiceover elephant in the room, right?

Anne: Yeah.

Gabby: I remember like years ago the first time I really heard the phrase, the expression passive income, I just of course went, ‘ok. Well that’s never going to happen.”

Anne: Yeah, yeah.

Gabby: Because my immediate thought was, right, what I do is dependent upon me in that moment.

Anne: Voice.

Gabby: Working, being engaged, like what could I possibly sell or have that’s going to be passive?

Anne: I don’t have a product. Exactly.

Gabby: This episode is going to be a little different than what we normally do. We’re talking about things that could be voiceover related but ultimately are outside of the voiceover sector.

Anne: Yes. Now –

Gabby: I don’t believe that there’s a way as a voice actor, doing the proper job of voice acting, there’s a way for passive income to be possible. Do you see one, Anne? I mean, residuals, I guess.

Anne: Yeah, residuals. I mean, and royalties –

Gabby: Residuals are a form.

Anne: They’re a form of that.

Gabby: But of course there is no – you can’t depend on residuals. They’re –

Anne: Unless you can craft a way so that in the future, which I’m sure people are scared of and thinking about and investigating, of having your voice footprint as a product that you sell over and over again, which sounds scarily like text-to-speech AI, all that good stuff. You know, but hey, I say be an entrepreneur. [laughs] There could be something there.

Gabby: There could be.

Anne: You know?

Gabby: There’s also royalty shares and profit shares with things like audiobooks.

Anne: Sure, sure. Absolutely.

Gabby: That’s another example, but outside of that.

Anne: There’s really not –

Gabby: I don’t think there really is one. It’s ok for me, I mean, well, both of us, as coaches. We have in some ways explored a version of passive income there.

Anne: Yes, it’s another product.

Gabby: Exactly. And we have specific products and things people can go to our websites and instantly buy or download and pay for, on the spot, instant gratification all the way around, and then we get thee little text payment from –

Anne: I love that.

Gabby: Yeah, PayPal says you made money. You made money. [laughs]

Anne: “You’ve received.” Probably one of the more popular forms of it would be, like you said, like digital downloads, or courseware. Courseware I think is super important –

Gabby: For sure.

Anne: – for a lot of people in our industry because it’s something you can sell that’s completely digital. It’s not a physical product where you have to worry about packaging and shipping and purchasing, that sort of thing. You just have to put in the work to create it. That’s why you see so many people with so many online courses. So I think for that you run in to the issue where it’s a great idea, and it’s a great way to make revenue, but it’s so competitive.

Gabby: It is, and the coaching market, not just in voiceover, but all around is –

Anne: Yeah.

Gabby: – very, very oversaturated. There’s going to come a point in time where it’s really going to max out. We’re in sort a trend phase with that, and I think it’s gonna get thinned at some point.