|

How to Earn Passive Income as a Freelancer

Most freelancers earn active income. While this is a great option and mostly how everyone who is into freelancing starts their journey, it can be hectic. The thing with active income is that, you have to work to earn. This is great, but there are times when you might not have work or projects. At such a time, your finances can be in trouble.

Passive income, on the other hand, comes without any extra effort from your side most of the time. It’s like having a money-making machine that keeps churning out cash for you whether you’re working or not. Passive income can come in handy for you as a freelancer, especially when your clients aren’t sending work your way.

How do freelancers make passive income?

Passive income could be in the form of a book you wrote and published, an online course that you sell to earn money, or even affiliate marketing. Passive income allows you to make money while doing other things.

There are a number of ways through which freelancers can earn passive income. Those include:

1) Create an online course to generate passive income

As a freelancer you already have a skill that you are monetizing actively. To pursue this passive income idea, you don’t necessarily have to a teacher by profession, but it does help if you are. Online learning is a $250 billion dollar market. Why not get a piece of the pie?

There are a number of platforms you can use to create and sell your courses, including Udemy, Teachable, and Skillshare. All you need is some content (which you likely have), video or audio recording equipment (you don’t need anything fancy) and the willingness to put in some effort upfront.

Once your course is created, you just have to market it a bit and watch the sales come in. You can even outsource this task to someone else if you don’t have time for it.

Passive income ideas for freelancers: create an online course! Click To Tweet

2) Become a dropshipper and earn passive income

Thanks to Shopify almost anyone can give dropshipping a try. Dropshipping is a way to sell products online without having to buy the items yourself. The customer buys from you and you then order it from your supplier who ships the product directly to your customer.

You don’t need any inventory and there’s no investment or risk involved. You can even design your own brand if you like and sell clothing, accessories, shoes, and more.

In case you’re wondering if dropshipping is legit or not, there are many dropship success stories which show it’s a viable money-making opportunity for freelancers.

Dropshipping Passive income ideas for freelancers: become a dropshipper! Click To Tweet

To learn everything about the business model, we suggest you check out these courses from Shopify. You can choose to outsource some of the tasks as you learn more about it, but it’s a great way to get started.

3) Earn passive income as an eBook writer

So you’ve been freelancing for a while now. You’ve upskilled and you’re a pro at your game. Why not share this knowledge and earn from it? Passive income as an eBook writer is a great way to do this.

There are many platforms that allow you to self-publish your work, and some even give you a commission for every sale. Amazon Kindle Direct Publishing and Barnes & Noble NOOK Press are two such platforms.

You can also market your book through social media, your website, or even by giving talks on the subject.

Passive income ideas for freelancers: write an eBook! Click To Tweet

It’s a great way to make some extra cash, and you already have the skills necessary to do it.

4) Start a blog or create videos to share your knowledge and expertise

In case you’re not familiar with it, passive income is basically money that you make without having to do anything. You set up a system and then sit back and watch the cash flow in. It’s one of the most sought-after things in life, and for good reason

One great way to create passive income is by blogging or creating videos. Passive income blogs allow you to create content which helps people solve a problem, and then earn money from it by promoting products or services that your audience will find helpful.

For example, if you’re an SEO expert who has been freelancing in the field for a while now, why not start a blog where you share tips and tricks? You can then promote an SEO course you created, or even an online tool that you use and love.

The great thing about this passive income idea is that it doesn’t require any special skills or knowledge – just a willingness to share what you know. And, of course, a blog or YouTube channel takes time and effort to get off the ground. However, once it’s established, you can earn money from it for years to come.

Passive income ideas for freelancers: build a blog or YouTube channel! Click To Tweet

5) Create digital products like plugins, templates, or WordPress themes to earn passive income

If you’re a web developer, you could create digital products like plugins, templates, or WordPress themes to sell online. This is a great way to make passive income because once your product is created, you can continue to earn money from it for years to come.

You can use marketplaces like Creative Market and ThemeForest to sell your digital products. Once you’ve created the product, it’s up to you how much effort you want to put into promoting and marketing it. Passive income for freelancers: create digital products! Click To Tweet

This is a great way to monetize your skills as a web developer or designer, but it does take time and effort in order to create a quality product that people will want to buy.

6) Create and sell digital assets to earn passive income

If you’re a graphic designer, you could create and sell digital assets to earn passive income. There are many platforms that allow designers to upload their work so it can be sold as stock images or used in other ways by buyers. Platforms like Creative Market and Shutterstock are two great examples.

Passive income for freelancers: sell your digital assets! Click To Tweet

The great thing about this type of passive income is that you can continue to create new work and sell it on these platforms over and over again. It’s a great way to make money from your skills as a graphic designer, and it doesn’t require any extra work once your product is uploaded to the platform.

Start generating your passive income

We hope these passive income ideas for freelancers gave you some food for thought. Passive income is a great way to make money from your skills and knowledge, and it’s definitely something worth exploring. Do you have any other ideas for earning passive income? Let us know in the comments!

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *