What is Passive Income, Anyway?
So you may be wondering, “what is passive income, anyway?”
Well, that’s exactly what I’m here to clear up today:
What Passive Income Is and Is Not…
Especially as it pertains to creatives like you and I.
Everyone talks about “making money while you sleep!” and how awesome it is.
Yeah, it is nice.
But the truth is, I prefer to make money when I’m out on an adventure, or spending time with my family and friends, or art journaling, or even just relaxing on the couch. Making money while you sleep is fine, but making money while you’re out enjoying life is even better!
I have an app on my phone that notifies me anytime one of my ebooks sell, and I’ve started a list of just some of the fun things I was doing when I received those notifications. Here are a few:
- While I was out having my birthday dinner with family and friends.
- While I was on vacation in California.
- While I was painting.
- While I was at a blogging conference.
- While I was picnicking with friends by the river.
- While I was doing karaoke with my daughter.
- While I was at an Etsy sellers’ meet-up.
- While I was on an airplane.
- While I was at the movies.
- While I was at a mastermind meeting.
- While I was working.
- And, of course, while I was sleeping!
That’s the really great thing about passive income: not that it happens while you’re sleeping, but while you’re out living a fuller, happier life!
[bctt tweet=”That’s the really great thing about passive income: not that it happens while you’re sleeping, but while you’re out living a fuller, happier life!” username=”OhHeyCB”]
But what is passive income, really?
It’s income you make from something you work on once, and can sell over and over again, without having to make it again and/or pack and ship it. Typically, this means more work up front (sometimes a little more, and sometimes a lot more.)
Some examples include:
- Creating PDF patterns of your products so DIYers can make them for themselves.
- Selling prints of your artwork through one or more of the various websites who handle all the sales, printing, packaging and shipping for you.
- Teaching a class on video that can be sold over and over.
- Creating online courses about creativity.
- Writing a How To ebook about what you make.
- Blogging about what you do and making money with affiliate links.
What passive income is not:
Easy. You still have to work for it!
Quick. Passive income definitely does not happen overnight. It takes time to create products, launch and market them.
Or even totally hands off. Because, just like with physical products, you still have to sell what you’ve made. Or get people on your list, to your website, or following you in order to get them to click and buy.
But guess what else it isn’t?
Which is exactly why I created the Creating Beautifully! (Well, one of the reasons, anyway!)
Because I don’t think you need to start another business in order to create sources of passive income. You don’t need to start down a new path, or start a whole new business, etc. My hope is that, through the ideas discussed on this website, you’ll come up with ways to make more money, as passively as possible, in your current creative business and/or with your favorite creative pastime.
Because I’m guessing you started doing what you’re doing, making what you’re making, selling what you’re selling, because you have a real passion and talent for it. Am I right?
So let’s piggyback on that, and figure out how you can earn more, just passively! Check out the blog for some ideas, and check out the resources I’m using every day that help me make more passive income.
But I hope that helps answer the question, What is Passive Income, Anyway?
(One last note: when I talk about “creative passive income” on this website, I’m not talking about some other forms of passive income like: Network Marketing, Real Estate, Investing, etc. Not that there is anything wrong with those things – my own mother has been a very successful real estate investor for almost 20 years now with nearly 100 properties. My Grandfather became a millionaire after retiring from the L.A. fire department by investing in the stock market. So I know those things can be awesome for some people! And I’m sure there are some great websites that can help you with that kind of info. That’s just not what I’m talking about here.)