How Therapists Can Create Passive Income

Are you happy being a therapist but want — or need — an influx of additional earnings? Would you love to build your bank balance without raising prices, increasing work hours, or taking on staff? Have you heard colleagues talk about passive income and wondered how to create this “hands-off” source of cash?

Creating passive income for therapists is entirely possible. You hold the expertise that people desperately need and, yes, they are willing to pay. You know this because you currently treat clients. You already exchange your time and expertise for payment.

Yet, it’s easy to fall into the false belief that consulting is the only way to earn an income. To reframe this strongly, it’s not! There are ways to harness the power of your incredible knowledge to create additional revenue without high ongoing costs or effort.

That’s the promise of passive income: earnings acquired with minimal labor. And with the internet makes earning a passive income possible and achievable. Cyberspace opens various income-producing avenues without investing in other forms of passive income like shares and property. With this in mind, let’s answer the question “how to make money as a therapist” in a passive way.

Write and sell a book

Writing a book can create active and passive income for therapists. Yes, yourself included!

While writing a book takes time and effort, once completed, it can become a passive source of income. It’s simple to produce a book in both digital (eBook) and print format. You can then sell your book in practice, on your site, in other practices and stores, and through a print-on-demand (POD) platform like Amazon, IngramSpark, or Lulu.

POD platforms are powerful because:

• Your book can be discovered and purchased.
• A platform like Amazon offers a massive stream of potential customers.
• You can direct your following here. The platform will print and ship your book and pay you after they’ve taken their fees.
• You can order author copies of the printed book, which you can sell in practice or elsewhere.

Your book can sell for years with the right topic, an attractive title and cover, and great content. Plus, a book can create additional benefits, including passive and active income.

On the passive front, you can sell other books, courses (more on this next), and products from the pages of your book.

On the active front, writing a quality book will grab the attention of potential clients who will seek you out for care. It can help you gain media attention, secure speaking engagements, and unlock doors that would have remained closed.

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“But I couldn’t write a book!”

Yes, you can!

Even if you’re busy, not a confident writer, or unsure how to begin, there are cheats; ways to craft a powerful book faster and with less effort.

To begin, think about the problems that often present in practice. Think about the conditions and challenges you are great at helping clients to solve. Looks at your Google Analytics account and see which topics are most popular on your site.

Then research the popularity of your topic. The potential audience needs to be significant and motivated to make passive income from your book.

Once you’ve chosen the topic for your book, decide on the subtopics. These will form your chapter topics.

Then, the magic can begin!

• You can research and write your book yourself.
• You can use your outline and speak your book. Once you’ve recorded what you wish to say, have the audio transcribed. This can be a quick way to produce your first draft. You can then edit your book or outsource your manuscript to a professional editor.
• Speaking of outsourcing, you can also use your outline more imaginatively. It is common for experts to outsource the writing of their books. This is likely the fastest way to have your manuscript written.

Being the author of a book positions you as an expert and authority on your subject matter. This can bring in both passive and active income.

Tip: How could you fill a whole book? Listen to the episode of The Therapist Experience called How Writing a Book Can Super-Charge Your Entire Practice.

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Create and sell e-courses

With a higher perceived value than a book, e-courses can be a great source of income.

An e-course allows for a multimedia approach. Instead of connecting through the written word alone, a course can contain written, audio, and video content. This will enable viewers to get to know your voice and appearance, characteristics, and expertise on a deeper level.

When someone consumes a quality, helpful course, they feel connected to its creator. The process often builds strong rapport and trust. This can convert into a client booking and purchasing other products from you. And creating an e-course is easier than you might imagine.

For example, if you specialize in treating anxiety and relationships in adulthood, you might create an e-course titled “How to Date With Social Anxiety Successfully.” As you are presenting on an area of expertise, you already know what to share. You’ve likely provided the same advice 1000 times.

Tip: Create an outline, then record yourself on video. Audio can be isolated and a transcript produced. This will quickly provide the foundation for a multimedia course.

To learn how to build an e-course, listen to the episode of The Therapist Experience called How to Create an eCourse to Bolster Your Business Income.

Once your course is created, you need a way to deliver it. A professional platform will allow you to host your course on their website. Or you can use plugins or purchase a platform to host your course on your own website.

Produce and sell simple digital products

Want to know about side hustles for therapists that are faster to produce than books and courses?

Not all sources of potential income take considerable time to produce. Why not add simple digital products to your website store?

Consider producing:

• A meditation audio
• A downloadable journal
• Beautiful affirmations that can be printed and placed around the home
• Tutorials or guides (including self-care guides)
•  Cheatsheets and worksheets
•  Inspiring or educational digital posters

Expand your imagination and brainstorm ideas. For example, consider selling recipes, meal plans, and food preparation advice if you use nutritional medicine as part of your therapeutic approach.

Need more inspiration?

Ask your current clients what would help them most.

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Create a program for other therapists

Is your practice flourishing?

If so, you will have great insight and guidance to share with other therapists, expertise that can attract a premium. Business owners — including other therapists — typically pay higher prices for content that will shortcut the road to success and help their businesses to soar.

As with e-courses created for people with a health condition or challenge, you can create multimedia e-courses aimed at business owners.

Engage in affiliate marketing

Did you know that to add passive income to your bank balance, you don’t need to create products yourself?

The web allows you to benefit from the great offerings of other experts.

Affiliate marketing is similar to a finder’s fee arrangement. You find a quality, helpful product or service and point your current and potential clients to them. You get a percentage of the sale or a set amount if they purchase.

While being an affiliate won’t necessarily enhance the relationship between yourself and the purchaser, it means you can ethically profit from the efforts of another. You don’t need to create a product or deal with customer service.

As with all skills, the better you hone your craft, the more success you’ll have as an affiliate marketer.

The takeaway

You deserve to be paid well. Your expertise and experience change lives. The internet allows side hustles for therapists that can bring in additional income that makes a difference. Take advantage!

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