Guest Writer: Lance Cody-Valdez
For informative content and services to help you build your brand, manage ads online, and more, visit Razzle Marketing’s Services.
When it comes to working hard and making money on the side, freelancers are the world’s best.
You know you should take the jobs that come along, and you do them well! But what about passive income?
Passive Income is a concept that centers around the fact that you can earn extra cash without being actively involved in generating it, which can be a great option for busy freelancers who need the extra income but don’t have time to do more.
So let’s take a look at some ways you can earn money on the side where your money does the work for you, rather than you doing the work –well, most of it.
1. Publish an eBook
Writing and publishing books online is a good way to do a lot of work upfront and then enjoy the spoils for years to come.
Chances are, you won’t have to do too much work, to begin with, if you have been writing about a certain subject for a while. It’s a great way to turn a hobby into an income generator!
Are you passionate about, say, freshwater fishing? Or perhaps, science fiction movies? Write a short book about your hobby and publish it on Amazon in Kindle format.
(You will be surprised at just how much you could make from this. Remember, there are BILLIONS of people on this planet.)
2. Get Your Online Brand Right
Another way to earn income on the side is to create and maintain your online presence, which includes instilling a brand message on all of your online properties.
A blog or other kind of project-based website can be a great way to earn money through ads.
Installing Google AdSense on your site or setting up advertisements through your content management system itself. For instance, WordPress has built-in ad tracking for certain plans, which can earn you money on the side just through the virtue of having ads on the site.
You get paid based on how many people click on the ad.
(Hint: A website is also a great way of marketing the eBook you published in step one!)
When designing your website, you may need to hire other freelancers who have skills you may not have — like graphic designers to create your logo, for instance.
You may think you know what you want when it comes to representing your brand, but usually, it helps to have an expert’s opinion to help steer you in the right direction. Because if your brand is off or unclear, you won’t get the clicks you need to make money.
And while you’re gettning your brand on point, you will want to consider getting direct deposit set up so you can get paid!
3. Invest in Real Estate
Investing money in passive stocks and bonds is one thing you can do to earn money on the side without much effort.
But let’s take that one step further: real estate investment trusts are like the stock market — but for property.
Real estate is a great investment, whether you’re using crowdfunding apps like RealtyMogul or buying a condo to fix up for rent. Property management, in particular, can improve your financial situation and offers financial stability, as long as you have tenants living in your property.
It’s a great option for anyone who has the funds to invest. Again though, we urge you to seek an expert’s help to do this right.
4. Sell Stock Photography
Chances are, if you’re a freelancer, you’ve encountered stock photography in your line of work.
Stock Photography is the supply of photographs which are often licensed for specific uses.
This is an easy way to make a little extra cash. All you have to do is take photos you believe would be good for online content, then upload them to stock photography sites like Flickr,
Shutterstock, and Pexels; and let the money come in!
Royalty payments on photographs won’t pay for your vacation by themselves, but it’s still passive income that you don’t have to work too hard to achieve.
Only Scratching the Surface
These are only a few ways to let your money work for you. For freelancers like yourself, it can be beneficial to spend a few moments setting up these streams of passive income — and then you can reap the rewards while continuing to do your freelance work!
We hope you are feeling inspired and empowered by the potential for passive income. If you would like to read more freelance resources, visit free-lance-now.com
