Hey friend, if you want to take things to the next level, passive income could be the answer! Whether this is a new topic for you or just a refresher, I’ll be covering the basics of passive income specifically for creatives and artists, so let’s dive in!
WHAT’S PASSIVE INCOME?
Ok, before we dive all the way in, let’s build a definition. Passive income refers to a source of earnings that requires minimum to no effort from you in the long run. As an income source, it involves work or an investment in the building stages, but it’s something that once built up generates incomes by itself over time.
In the last few years, passive income has increased its popularity among bloggers, online content creators, and entrepreneurs. Why? Passive income is the smartest way to have time for the things you love while earning money from your skills, artistry or knowledge. In a few words: it’s the future of the online business, and personally, I think it’s the best objective for creatives and artists.
PASSIVE INCOME SOURCES FOR CREATIVES:
So, what can generate passive income for you as a creative person?
Number one is by becoming part of affiliate marketing programs related to your niche or by selling digital products online (this includes e-courses).
So let’s dive into these:
• AFFILIATE MARKETING
Creatives, artists, and bloggers can generate passive income by becoming affiliated with brands they trust, have used, and believe in. And it’s very simple, you’ll get paid if someone purchases the products you’re promoting.
If this resonates with you, you can research which of your favorite brands and products have affiliate programs, and then research their benefits and conditions to make sure they fit in with your brand and values. The most important thing here is to stay authentic by sharing the products you know and trust so your clients become really interested in something they know you really love and have tried before.
These are some of my favorite brands that have affiliate marketing programs: DickBlick, Amazon, ConvertKit, Skillshare, Creative Market, Adobe, and Shopify.
• DIGITAL PRODUCTS AS PASSIVE INCOME
The way I’ve created passive income for 10 years is through selling digital products. And just by doing that, I’ve been able to reach six-figures a year.
Offering digital products is a great way to create passive income as you’re investing time and energy only one time while you’re starting. Then you can generate multiple sales from the same product into the years ahead. Automatization plays an important role here. Leading new potential customers to your site, closing sales, and delivering the products can all be on autopilot, so each earning isn’t as demanding on your time, energy, or customer service.
There are a lot of options for digital products, and I’m pretty sure you’ll be able to find one that resonates with you and your audience.
Now you may be wondering, what can I offer?
1- SELL YOUR OWN DIGITAL TOOLS TO FELLOW CREATIVES
Think of the digital tools you’ve created for yourself or your business that can be game-changers for your peers. Those tools or resources that have simplified your life or workflow might work just as well for others.
2- SELL YOUR KNOWLEDGE
Online education has become one of the best-paid resources on the internet. Investing in online education has become really popular lately, and digital resources have made it more accessible and appealing to everyone. From online courses to video tutorials, how-to ebooks to audio lessons, the ways to share knowledge is up to you!
You can serve others by sharing your knowledge, signature methods, and experiences. Check out these templates I’ve created for you to sell your knowledge, step by step methods and quick guides.
3- OFFER YOUR OWN CREATIONS
This is one of my favorites! You can put your paintings, patterns, doodles, presets, templates, logos, videos, audios, speeches, written content, or anything you love creating, out there into the world! And you can do this all with the intention of serving others. I looove this so much because it allows creatives to work on the projects they really enjoy doing, and not be limited by another’s creative vision. You can set your own terms, style, deadlines, and evolve as an artist.
Want more ideas? Check out these 60 ideas to create passive income for creatives
WHY IS PASSIVE INCOME PERFECT FOR CREATIVES?
In a few words, passive income allows you to create your dream job and lifestyle! Passive income doesn’t mean a few more pennies in your pocket, it could be the primary source of your income and the stream that demands the least amount of time, energy and effort on your part.
It literally means that you can make money while you rest, sleep, take a vacation, are on maternity leave, or even when working on a different project. Oh! And one more thing, it lets you work at any time of the day and wherever you want! You tell me, isn’t that AWESOME?
The lifestyle I’m provided is the main reason I’m passionate about it and can’t help but share every single detail for you to achieve it. Because friend, I truly believe every creative deserves to have this lifestyle of freedom, creativity, and personal fulfillment.
BEGIN WITH A PURPOSE
Having a purpose is essential if you want to build a passive income empire.
The products or income source you create should stay true to you and your values. Mainly because you will have to promote, talk about, and believe in this to the core for months and years to come to make it sustainable and successful in the long run. So making sure you’re passionate about the things you’re offering will make your work more natural, easier, and will lead you to succeed.
So let’s face it, if you don’t feel passionate about what you’re offering, your attempts to generate a passive income will fail. So defining a purpose is the first thing that needs to happen.
THE SECRET TO PASSIVE INCOME
Creating digital products and just waiting for daily earnings like magic won’t happen overnight. Having a STRATEGY is the key to converting those products into a real passive income for your business: AUTOMATE!!
Say yes to everything you can automate. Online marketing, email sequences, delivering your digital products, customer follow-up, etc. Make it a point to automate everything you can in the process.
THE SALES FUNNEL
The sales funnel plays a big role when creating passive income. A sales funnel generates an automatic system that brings in clients, educates them about your product, allows them to build trust in you, and finally invites them to purchase. Fortunately, you can automate this system to repeat over and over again, so when the engine starts it won’t stop even when you’re in vacation mode. That means you can attract new potential clients every single day, all year long. Isn’t that amazing?
MAKE IT LAST WITH EVERGREEN CONTENT
Passive income is about generating earnings over the years, so to make sure your product will be alive, trendy, and eye-catching over time, you have to concentrate on creating evergreen content. What does evergreen content mean? Well, it’s the content that will be useful today, tomorrow, in a month and for years to come. It’s material that’s relevant no matter the season or the date. That way you make sure your product will always be IN and that your customers will be likely to invest in them without second guessing.
THE TRUTH ABOUT PASSIVE INCOME
You have to work! Yes, my friend, work hard ONCE, and then let the wheels turn to generate earnings while you sleep. That’s the best and most exciting part.
I’m proof that if you use the right tools and implement a strategy, the passive income will get real and you’ll start to experience the freedom you’ve always dreamed of. Working from wherever and whenever, taking an entire year for maternity leave, traveling around the world, resting when I need it, and working on the creative projects I love the most is the most rewarding feeling ever.
THE PROS
- It boosts your creativity as you can create whatever you feel into that day.
- It allows you to take breaks and detox when you may feel creatively stuck.
- You can work from anywhere, at your own pace and on your own schedule.
- You never run out of stock.
- You don’t have to invest money to get started, just time and energy.
- You set up your pricing for your work.
- You can automate everything (marketing, delivery and even follow up).
- You have the potential to reach the entire world with your products.
- You can help other business owners with your tools and build community
- You add value to your blog or brand.
- The sky is your limit
THE CONS
- Risk of copywriting infringement, which you can avoid by protecting your products.
- You can become obsessed about this and won’t be able to stop creating more and more.
- I really can’t think of any other cons over here. So you can imagine how lovely it is working on this!
WHAT IF THE THING I WANT TO CREATE OR SELL ALREADY EXISTS?
Don’t get discouraged if you have an idea and then find out it already exists. All the stars in the sky have a place to shine, and you’re no exception. If you thoroughly work on your product with intention and purpose, and pour in your own knowledge and personal style, I bet it will never be the same as others.
Noticing that there are other creatives doing “XYZ product” tells you that there’s a market for it, so you’re probably on the right path. Do your due diligence into market research, take note of its weak spots, and determine that you can present a solution and improve that weakness through your offerings.
Take a look at what others are offering ONCE, then put what others are doing out of your mind. So in the process of creating, you stay true to your style without being influenced by competing products.
Passive income is one of my biggest passions and I can’t help but want everyone to get into this profitable and satisfying business!!
I’ve made a commitment to share everything I know and make it accessible for most creatives, entrepreneurs, and artists.
So if you have questions, suggestions, or there are topics you want to know about please contact me or leave a comment below!!
Xo,
Rose
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