Creating a Passive Income Source

Tomorrow’s financial freedom depends on what you do today.

I love Cape Cod!

Every once in a while I try to enjoy life at the sea. It has been a long way, not only because I was born in Mexico, or because I didn’t have enough money, but mostly because I felt that I couldn’t go to a place as beautiful as this and just rest.

Over the years, I have learned to take time for myself and I know this is key to my success as a professional.

My name is Marcela Urteaga, and I’m a recovering workaholic. I work as an organizational consultant and I help people and organizations share what they love with the people they serve.

Over the last 18 years, my life has gone through big changes. I lost my job at one of the largest companies in Mexico, I struggled for a few months and reinvented myself twice in the process. Then I quit my job to come to Montreal and I had to reinvent myself again. Then five years later, I lost my job once again, and this time was unemployed for over two years. I had to reinvent myself again and as a result of that, I ended up in Toronto, doing something different once again.

Career reinvention is a real challenge, as our identity is intrinsically linked to our identity. We tend to think we are playing safe by having a job, but after losing my job twice, I realized I did not have job security. That the only way to have a plan B was to build it from scratch. Over these years, there was a quote that resonated deeply with me:

“A bird sitting on a tree is never afraid of the branch breaking, because her trust is not on the branch but on it’s own wings. Always believe in yourself” 

Over those two years that I was looking for a job, I had to manage multiple priorities: taking care of my family, applying to every single job that I thought I had a chance to get, reinventing myself, developing new skills, finding a new career, putting myself out there as a consultant, and most importantly, getting myself out of depression. Losing your job is tough at any time, but as an immigrant who thought that things were finally getting better, it was a hard blow.

During those years I had the opportunity to learn about digital content and online businesses, and I was able to emerge as a digital strategist and social media manager. I did this for a couple of years (although that new role didn’t have much to do with my career). Later, when I got a job in my field again, I decided to create a digital academy and help other people who were struggling with these challenging times. I called this community Kaironauts, as we were navigating this crucial time, which is also an uncertain one. I help Kaironauts to create an additional source of income, preferably a passive source, or one that requires a minimum of time. I understand intimately people’s fears about starting from scratch, about getting into a new career, and about losing a job.

Time is our most precious resource, and that’s why many people struggle to build a business like this. I currently work as a consultant and coach, and I dedicate about 3 hours a week (half of the time goes into promotion and the other half to the creation of new content, such as courses, workbooks, templates, and more) to maintain and grow my community of Kaironauts.

To create a passive income we have to invest time and effort, and we may be discouraged as it is not an easy process. It took me at least a year to realize that I had to create something that would allow me to better invest my time and that I needed to put systems in place to automate my process. My husband has used the same principles that have allowed me to create over 15 courses and products as a side gig, and we are delighted with the results.

If you want to discover how to use digital content to create a passive income source that can give you the financial freedom you want, this is it. Let me share what I have learned.