Passive income gets page views on the Internet. I’m giddy just thinking about the volume of traffic I’m getting for this post.

Just hearing the phrase “passive income” does something to our brains. (Can you feel the dopamine?) That’s true for lawyers and nonlawyers alike. We all like the idea of making money without working.

This guy, Pat Flynn, is making a small fortune selling the idea of earning an income passively. He’s got a wholesome, sincere thing going that really sells. Of course, he makes almost all of his money selling website hosting accounts to desperate people seeking their fortune on the Internet. The person making the income is him. Oh, and by the way, he’s working long, hard hours, so his income is far from passive.

Why Passive Income Could Work for You

But despite the get-rich-quick aura surrounding the idea of passive income, it’s possible to earn money while you’re sleeping. There’s no reason you shouldn’t turn your big brain in the direction of dreaming up some experiments to see whether you can turn your thoughts into deposits at your local bank branch.

Here’s what I know:

• You’ve spent a small fortune plus vast amounts of time acquiring knowledge about some pretty important and obscure stuff.
• People need what you know.
• Your knowledge and skills sell at a very high price.
• That price is more than some people can pay.
• Some people don’t like buying your knowledge the way it’s currently delivered.
• There are technologies available that allow you to impart some of your knowledge without you having to personally interact with each recipient of that knowledge.
• You can help people who need help at a lower price (or different delivery mechanism) if you harness those technologies.

That’s about as far as I can take you. You’re going to have to apply your knowledge of your market, their needs, and your talents, skills, and abilities. Is there a way for you to help others without having to do it one on one in the traditional lawyer client setting?

Consider the possibilities:

• Newsletters. They’ve been around forever and are still a successful concept usually done via e-mail.
• Books. Though they’re not exactly novel, they’re a proven concept.
• E-books. It’s the same deal as for books but the digital version. I’ve done very well with my books on this site.
• E-books coupled with video. These are easy to do today, and you can shoot the video professionally or with your iPhone.
• Complete courses. There are services that help you create, market, and sell your courses. You can couple text with video and tests.
• Membership sites. I’ve seen a number of examples around. Landlord/tenant makes sense to me, as does employment law for employers. The possibilities are endless, with features like discussion forums for members, ongoing education, etc.
• Apps. Can you turn your information and advice into something that works on an iPhone? Probably so. People love the idea of having what they need with them all the time.
• Web applications. Why not create an application running on the web that helps your market?

Of course, there are other possibilities. The only limit is your imagination combined with your willingness to experiment and your ability to overcome the oppressive lawyer need to do things the old way like everyone else.

Are all these approaches passive? I suppose some are, but many require lots of hard work. Can you make money while you sleep? Maybe so, but you’re going to have to do some work when you wake up.

Can you stop conforming and roll the dice? Can you overcome your fear and try something different? Can you step away from the pack? Are you willing to try something and fail? Are you willing to try something and succeed?

You own a valuable asset. You know people who need what you’ve got. Can you put the two together in such a way that it earns income for you without your direct, moment-by-moment involvement? Can a lawyer earn passive income? It’s time for you to find out.