The Freelance Writer’s Guide to Passive Income
Regular FreelanceSwitch writer Thursday Bram has just released her latest book, The Freelance Writer’s Guide to Passive Income, and we were lucky enough to score a big discount for our readers over the next couple of days.
The Freelance Writer’s Guide to Passive Income is an ebook for freelance writers who are just starting to explore passive income opportunities and want to get started providing themselves with a steady cushion of income to prop up their freelancing business without ongoing effort.
The coupon code FREELANCESWITCH knocks $10 off the cover price of $27. The code is currently set to expire at midnight MST on May 15.
Click here to learn more about the book and purchase it.
5 Passive Income Opportunities for Freelancers
When it comes to increasing our income, freelancers face a challenge. We’re used to trading our time for money — even if we charge a per project rate, rather than work for an hourly rate, we don’t get paid until we’ve put in a certain amount of time. But there are ways to make money without that direct connection between the number of hours we work and the amount we get paid. That sort of approach to making money is known as passive income — although passive income is a bit of a misnomer. It does take work to bring in money that way, although there is definitely potential to increase the ration of money to your time.
Turn Your Unused Client Work into Passive Income
For many freelance designers, an extra buck here and there would be a welcome sight. Unfortunately, many freelancers are currently experiencing just the opposite. I’d like to share a technique that can help you create additional income opportunities through recycling old work. For the purpose of demonstration, I will be talking about turning unused logo concepts into cash, but with a little imagination, this same technique could just as easily be applied to almost any other design medium.
If you are a graphic designer, you have probably designed quite a few logos for clients that included presenting multiple initial concepts. What happened to all of those concepts? Some designers may get a little bit of mileage out of their unused concepts by including them in their portfolio for self-promotion, but generally speaking, most unused concepts go to waste.
2009, Big % Increase & GraphicRiver Beta Invites
Looking back on last year, Envato had a pretty big 2008 by any measure. We jumped from 4 sites to 13, a million monthly visitors to 5 million, and while our team began the year numbering 12, we ended it totalling 55 talented reviewers, editors, managers, developers, writers and support staff. With such a crazy year in the rearview mirror, it is with no small excitement that I can say that 2009 is going to make 2008 pale in comparison. And today I’m here to make a huge announcement for all the authors of our marketplaces, give beta invites for a major new site, and give sneak previews for some of our Envato plans!
Multiple Streams of Income for Digital Nomads
True or false: freelancers tend to be relatively adventurous people, given that they’ve eschewed a “regular” job to live a more free work/life style? I vote for “true,” so it wouldn’t surprise me if a large proportion of freelancers suddenly decided that they wanted to live the lifestyle of a Digital Nomad – a person who utilizes technology to combine work and travel.
How to Scale Your Freelancing Practice & Automate Income
This article won’t be for everyone. Not all of us care to grow a large business or automate our income. Many of us are perfectly satisfied to earn dollars per hours and that’s great!
However, I have a lot of freelancers ask me this question:
How can I scale my business? I can only take on so many clients before I lose my sanity, free time, and desire to work!
So for those who want to increase monthly income and perhaps even automate it, how is that possible for a freelancer–without simply raising prices?
Below are some ideas that I and others have used to scale and automate our freelance business.
Option 1. Productize Your Services
This isn’t nearly as difficult as it sounds and the only way to truly automate and scale your income beyond six figures.
Now don’t instantly balk at this. I understand that not all of us would want to offer products alongside our services. However I encounter many service providers who want to scale their business but don’t think it’s possible to offer products as a service provider.
