Passive income is the life-blood for Creative Entrepreneurs . It’s dependable. Effortless. But, not at first. In the beginning, it’s tough. I liken this to doing the most amount of work for the least initial return. However, over time, as your passive income begins to increase, your reliance on an active income decreases. That’s when the real magic starts to happen. Here are 5 Passive Income Ideas for Creative Entrepreneurs.
1. Create an Online course
Everyone has an expertise. When it comes to creative professionals, when you learn how to teach your process, we can duplicate and leverage our income as well. Remember the people who like to learn a skill.
2. Write a book
The modern day business card. Books are a great way to establish yourself as a thought leader in your field. Approach your book like a manifesto of your creative process that is applied directly to a project. i.e. “How to create focus on a 1 month long film shoot”.
3. Build a Membership Site:
Building a community around your gifts and expertise. Membership sites are great because are a great way for a creative entrepreneur to engage with their audience on a personal level as well as build a predicate income stress that can create more freedom in other areas of life.
4. Build an E-Commerce Store
Online shops are a great way for creative entrepreneurs to monetize their creativity on physical and digital products. If you have a catchy slogan or mantra that is unique to your brand, put it on a shirt and offer it in your branded e-commerce store. If you have efficient process for building a website offer your step by step checklist for building the perfect WordPress website. Info products are by far my favorite means of generating passive income as a creative entrepreneur.
5. Productized Consulting
This type of offering turns active income into semi-passive income. For example If you offer web design services, document your process step by step, and create a straight forward list of deliverables that your client will receive. i.e “10 pages, free-hosting, logo design, etc”. It’s much easier to sell templated packages than it is to start from scratch on every project.
Pick one of these Passive Income Ideas and start today! Passive income is like planting a seed of a mighty oak tree. The longer it’s in your head / hand, the longer you will wait for it to grow.