Knowing how to use Facebook (fb) ads manager is a valuable skill. I know a lot of people with this skill personally. I don’t know many people that know how to monetize this skill set. I can’t think of anyone that flipped this skill to a completely passive income stream. Let’s discuss how I would do this.
Normal monetization path
Starting on UpWork is a go to move for many people. This applies for FB Ads Manager work. Here’s a list of opportunities that are available right now. A person can start here, get experience, acquire paying customers, and referrals.
Whenever I start a new venture, my goal is to get my first customer. I first start with my network. If I don’t get any hits, I see if there’s opportunities on platforms like UpWork for me to start. Again, when I think UpWork, I see it as a springboard to a stable flow not depended on one source.
After this income stream is flowing well, I look for other options. I personally like to reduce my hours I focus on this stream over time. My goals is to make the same if not more money with less investment of my time. Fb ads falls into this category.
Semi passive stream – Rev Share
It very easy to figure out how much you can make with a client. At least when it comes to a ball park number, I can calculate this easily. If I think my client has upside and will do more business than they’re doing today, I would explore a revenue share agreement with them. This way I will set a floor for my earnings and increase my earning potential earnings if the client experiences an upside for any activities covered by the rev share agreement.
For example, I can do work over a six week period and continue to get paid over the duration of revenue share agreement. If the agreement period is a year, I can work for six weeks and get paid for a year. That checks my box for semi passive income.
In this scenario, I flex my price down. I’m willing to get less dollars initially for more dollars or a consistent stream of dollars in the future. This can be a great option for cost concerned clients.
Semi passive Stream – Udemy Course
A Udemy course fall into the category of produce once and get paid multiple times. It’s not too hard to create a self paced course that requires little overhead.
There are different types of courses to create. Step by step guides are pretty popular right now. Delivering a guide through a course on Udemy allows people to get up to speed on whatever they’re learning at their on pace.
Hands free passive stream
It will be very hard to run a complete passive stream using your skills as a fb ads manager. Running ads campaigns are about constant adjustments and optimizations. Ads are never fire and forget. I feel you have to monitor them consistently and react appropriately.
If I have an active or semi passive stream, one option I have is to take some of the profit and invest in the stock market. Targeting an index fund that tracks the S&P 500 makes sense to me. When I do this, I’ve now taken proceeds from active funds and moved them to a passive income stream. The cool part is this is completely rinse and repeat.
Note: I’m not a financial advisor. If you’re thinking about investing, please consult professional services in this area. I’m mainly share this information to educate. I’m not telling you to be stocks or invest in index funds.
Signup for my email distribution list
I don’t email often, but if you would like to keep up with what I’m working on in the area of passive income, please signup. Thanks!