Monday, March 23, 2009

Spreading the Wealth

I've talked about finding ways to create a residual income here before, but now I'm actually taking steps to do it. There are lots of writers out there making money from more than their client projects. Some writers write books and receive royalties; others write ebooks and reports, create and monetize niche websites and blogs.

Building "passive" income

This income is anything but passive considering the time and energy that needs to go into creating the final product. The fact that it can continue to make money long after you've created it is the lovely thing about it. This combines well with everyday client projects.

Write for yourself

Some writers say their "passive" income has grown so much that they have the luxury of scaling back on client projects. They can spend the majority of their time writing for themselves. Beautiful.

Have you made any effort to create a passive income with your own projects, or is it something you've ever considered?

4 comments:

Lori said...

I'm watching this post, Kimberly. Like you, I'm hoping to find ways to monetize beyond putting tons of annoying little ads on everything. I have a sparse amount of Google Ads on my blog now, which nets me about 5 cents a year (really not worth it, is it?). I'd love to hear what others are doing!

Kimberly Ben said...

Lori, I'm hoping to be able to share some of experiences soon. I have so much to learn!

Devon Ellington said...

I really hate the term "passive income". But then, when it relates to advertising, I stop visiting plenty of sites that i feel have too much advertising, and I don't like ads on my site.

However, I do earn royalties on my plays and my fiction -- and let me tell you 'royalties' is not only a much lovelier term than "passive income", but royalty checks make me all warm and fuzzy.

Kimberly Ben said...

Devon, I can only imagine the warm and fuzzy feeling getting royalty checks can bring!:-)

 
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