passive income ideas for your creative business
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Having passive income is a good way to have an extra income stream when working with clients or other aspects of your business. Creating that product will take time and dedication. If you’re unsure of what is passive income, this is where you sell products or services on autopilot. You’ll be making money while you’re away from your computer.
Having an ebook on a certain topic is a good way to make passive income. However, ebooks are usually on the lower end price point when it comes to creating passive income. Most of the eBooks I’ve created I’ve usually offered them for free or with a purchase of a template. Depending on what you’re offering with your ebook and the topic it will be priced at $30 or less. You can sell these on your website or you can go an extra mile and sell on Amazon.
One of the most popular ways of creating passive income today is teaching others what you know will help them get results. This is great because it will allow your students to go at their own pace and they don’t have to rush through the content. You can host the course on your website or it might be best to host on sites such as teachable or Podio. Online design course can range anywhere from $47 to $1,000+.
Affiliate marketing is most popular among bloggers especially lifestyle bloggers. But it will work for anyone that shares content on their website or even social media accounts. You can include affiliate links to different products or services that you recommend to your readers. When they sign up or make a purchase you’ll earn money based on the referrals. Different sites have different ways and rule on how referrals work. Some will give you money when someone signs up from your link but most only give you money when they make a purchase. You have to be good at affiliate marketing to make a profit using this as your only form of passive income.
This is where my focus is when it comes to having a passive income for my business. Today, it has become a very saturated market so you have to be offering something that your audience will purchase. Templates can be for social media, presentations, flyers or websites. You can sell your templates on your website or sites such as Creative Market or Themeforest. When selling on these sites they take a percentage of each sale you make usually which is usually around 30%.
If you’re photographer this is a perfect way for you to create passive income. Create a studio set up area and take a series of photos that you can sell online. You can sell them individually or in a set – sets work best in my opinion. You can also sell general scenery images as well you don’t have to stick to styled photos. Make sure you have an audience for the type of photos you’re likely to sell.
Most people think being a Youtuber is easy but it’s not as easy as many people think it is. There is a lot of work that goes into planning the videos and editing the videos. Although you can make money from Youtube it takes time and you’ll have to upload regularly and grow your following. It’s not something where you can post 1 video and expect results immediately. You make your earnings per video through Google Adsense and not directly from youtube. So when people watch advertisements on your videos that’s how the funds come in.
Until next time