passive income
DESCRIPTION
My talk on Passive Income for Freelancers at Newcastle University for SuperMondays.TRANSCRIPT
Hello. My name is Lee.
I’m a freelance designer, developer & projectmanager from Sunderland.
6 years in the industry as a freelancer
Loved every single minute of it!
“
What is Passive Income?
Passive income is an income received on a regular basis, with little effort required to maintain it. - Wikipedia {en.wikipedia.org/wiki/Passive_income}
“
Why is it important?
Acts as a financial security if/when the new clients stop knocking on the door
Helps bring in extra cash*
Helps build personal brand and your business
* “Greed is good.”
Types of passive income
Sell Something
Write Something
Build Something
Selling stock content is the simplest form of passive income
Selling stock is now more than just photos;CMS themes and designs, code snippets, flash and flex files and 3D models
More important to sell exclusively throughone puone publisher
1. Sell Something
1. Sell Something
Plenty of websites where you can sell stock
Envato Network is the biggest
Commission between 40% - 70% on the sale price depending on volume of sales
Top users have made $200k+
1. Sell Something
2. Write Something
If you’re already doing this for your own siteyou might as well get paid to do it
Cash in on your expertise
You don’t actually need to be good at writing
2. Write Something
Writing for passive income comes in two flavours: Articles
Writing an article on a specific subject or topic, or compiling at list
Tutorials
Writing a step-by-step guide on how to do something
* Sorry for all the dollars
2. Write Something {Articles}
Look at what other people are doing
Pick your subject carefully for the blog and don’t worry if they don’t publish it first time
Commissions range from $50 to $100* butsome publishers will let you suggest the fee; don’t punch above your weight
2. Write Something {Tutorials}
Choose a topic that doesn’t have a ton of tutorials already
Make sure you look at the publishers guidelines and keep the quality high
Video = 100% FTW!
Commissions are generally higher and mostpupublishers ask for fee pitches
2. Write Something
Build a mobile app, a premium plugin, a web app or license code from previous projects
Lot more work than selling stock, but no publisher to share the profits with; maximum exposure
Get the price rightGet the price right
3. Build Something
Not a developer? Build a small web business
Affiliate marketing, price comparison andcontent aggregation websites are easy toset up
They don’t have to be sexy or interesting and if gets to much, you can always sell
3. Build Something
Remember: the more complex the app or business the more support you might needto provide!
3. Build Something
3. Build Something
REMEMBER!
Stay in your comfort zone; this is not the time for experimenting
Either sell it or don’t; donationware rarely works
Keep it low maintenance
Clients come first
Remember
