“Passive” writing income is derived from work that is done one time and continues to pay over and again, as opposed to “active” writing income which means a particular assignment is undertaken and paid for when it is complete. Getting paid for an article or an eBook one time is great, but how about getting paid for the same article or book many times? For freelance writers, creating passive income sources adds flexibility; a cushion of passive profits allows for working less while still maintaining a significant income level.
Where can you earn passive income from freelance writing?
Passive income can be derived from a variety of sources — blogs, selling digital or ebooks online, websites, traditional or self-published physical books, article sites like Squidoo and Helium, and semi-local news sites like Patch and Examiner.
Writers with a solid foundation in place will continue to draw readers or sell books even when they are sleeping or on vacation.
Selling eBooks Online: Writers with specialized knowledge that would help others can put it together in an eBook and sell it online. It is easier than ever to sell nowadays, and listing on Amazon for Kindle download makes it super convenient. EBooks on popular topics continue to earn as long as marketing is done, and at the typical 30-50 pages, one can be put together quickly.
- Blogs: Blogs can be great passive income sources once the time and effort has been put into building traffic and revenue streams. Many new bloggers give up on their sites much too soon; they do not instantly see lots of traffic and they stop blogging. In reality, there is a growth curve for new blogs, and most often the blog will not receive massive traffic or much income for the first six months to two years.
- Websites: Like blogs, websites that offer great content that is valuable to a large number of people can draw massive traffic. In turn, offering digital products on the site could add up to earning a substantial income. Research the market to be sure the products offered are relevant and compelling to lots of people.
- Traditional and self-published books: Not to be confused with eBooks, traditional and self-published books can also be sold online, on sites like Amazon. The length is what differentiates these from eBooks. Books published by most publishers can be sold online and in book stores; when a publisher takes on a book, they generally work with the author to make sure it sells well. Many authors have self-published, both online and in print form, with varying degrees of success. Bloggers can easily make the move to book form by utilizing the wealth of information they have that can be packaged and sold. It is important to consider print versions of books because some people prefer a physical book.
- Royalty sites: Freelance writers can also write for online sites that pay by the popularity of their articles. There are a large number of these sites online; among the most popular are Squidoo, HubPages and Helium. These sites typically pay based on many views your article gets, so write a quality article and publicize via social media to get the most readers to it. Other sites where you can write on a specific topic and get paid on a revenue sharing basis are ExpertsColumn and Suite 101. Sites like Examiner and About.com offer writers both nominal pay upfront and pay for the number of views.
- Affiliate Writing: Writing articles promoting affiliate products is another way to earn passive income. Writing an article outlining a problem is an excellent way to introduce the solution…and you get paid whenever someone clicks on your article’s link and takes advantage of that solution. Once your article is written and online, you will continue to get paid anytime someone clicks and/or purchases the product, depending on the affiliate agreement. Your articles can be posted on your blog, other blogs and websites, and even article directories. Again, promoting them with social media and bookmarking sites will increase your audience, and ultimately, the money you can make.
Do some passive freelance writing so that money will flow into your bank account even when client, family, or other responsibilities demand most of your time.