Some time ago there were a lot more remote workers and a lot less self-employed workers competing for it for freelancing jobs. In 2020, earning income through freelancing has significantly changed. Today, it is more difficult to start freelancing without any specialized help. That is why many freelancers are now considering generating passive income. Indeed, once you have high enough rates, multiple income streams, and an established freelance profile, it is worth it to try implementing passive income ideas you may have in your mind. In this article, we have decided to look at some ways that remote workers can generate passive income to help you maximize profit from your online business.
Passive Income for Freelancers
The ideal thing with passive income is that you can make it in-between your main job. Generally, there are numerous passive income opportunities depending on your creativity, expertise, and industry you work in. However, sometimes earning passive income can be even more difficult than making an active one. That is why before you get started, we recommend you to utilize your passive income strategies only after you have established a stable stream of income capable of fueling all your side projects. We have gathered some of the top passive income ideas for creatives to help you launch your passive-income portfolio.
How You Can Generate Passive Income While Freelancing
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Start a blog
Yep, you can create your own blog to generate passive income. Definitely, it is probably one of the most overcrowded fields out there, however, it does not mean you should not give a shot. Besides, the advantages of having a blog are two-fold. Firstly, it will help you drive clients to your services and build your own brand. Secondly, you can use a blog to drive other sources of passive income, such as your digital assets or online courses. Additionally, you can always sell ad space on your blog/site. So basically, blogging can generate both passive and active income.
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Write eBooks
When it comes to earning passive income for freelancers, writing eBooks is one of the best ways to do that. Of course, it is easier to say than to do. Writing an eBook requires a high level of dedication before you become a trusted and valuable source of information to potential customers. You can write about whatever topic you want. The most important thing here is to develop your specific niche.
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Sell digital assets
This is one of the best passive income ideas. If you can design, consider selling your digital products like vector graphics, mockups, textures, templates or WordPress themes on platforms like Creative Market or Themeforest.
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Create online courses
Online products like webinars, workshops, or courses are a great way to build some extra income for freelancers. Although it can take lots of time, the creation of such products can generate thousands of dollars (with concentrated effort). Where to start? Determine what’s the first issue you can solve for your readers, and then provide as much value as you can. You can do:
- Case studies;
- Interviews and supporting articles;
- Q&A;
- Book recommendations
- Free PDF’s
Best case scenario - you earn a whole lot of extra money, learn new skills, and get a lot of new information about yourself. Worst case scenario - you learn some new skills and get a positive and memorable experience from making something from scratch.
Read also: Steps to Start a Freelancing Business
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Amazon affiliate links
This is probably the simplest option among all passive income opportunities. You tell your readers about Amazon products, and they pay you a cut of every sale your users make. Typically, you get up to 10% of the sale. It is a great passive income stream that you can insert into your blog posts, emails, courses, or coaching.
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Coaching packages
What is obvious to you may be unknown to others. Find that spot and use it. Teach people what you know. It could be anything from essay writing to bodybuilding. Sites like Tutor Hunt allow you to showcase your skills and provide coaching. Making money coaching is a perfect way to create passive income for freelancers. Just remember that clients are not paying you for coaching, they pay you for the result. This means they do not really care what certifications or credentials you have, they want to see the result.
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Freelance gigs
Lots of people do this kind of work. That’s because there are many high-quality freelance vacancies out there. But it is often hard to know where to start, how to get clients, what content to generate, and how to keep the ball rolling.
Yep, you can create your own blog to generate passive income. Definitely, it is probably one of the most overcrowded fields out there, however, it does not mean you should not give a shot. Besides, the advantages of having a blog are two-fold. Firstly, it will help you drive clients to your services and build your own brand. Secondly, you can use a blog to drive other sources of passive income, such as your digital assets or online courses. Additionally, you can always sell ad space on your blog/site. So basically, blogging can generate both passive and active income.
When it comes to earning passive income for freelancers, writing eBooks is one of the best ways to do that. Of course, it is easier to say than to do. Writing an eBook requires a high level of dedication before you become a trusted and valuable source of information to potential customers. You can write about whatever topic you want. The most important thing here is to develop your specific niche.
This is one of the best passive income ideas. If you can design, consider selling your digital products like vector graphics, mockups, textures, templates or WordPress themes on platforms like Creative Market or Themeforest.
Online products like webinars, workshops, or courses are a great way to build some extra income for freelancers. Although it can take lots of time, the creation of such products can generate thousands of dollars (with concentrated effort). Where to start? Determine what’s the first issue you can solve for your readers, and then provide as much value as you can. You can do:
- Case studies;
- Interviews and supporting articles;
- Q&A;
- Book recommendations
- Free PDF’s
This is probably the simplest option among all passive income opportunities. You tell your readers about Amazon products, and they pay you a cut of every sale your users make. Typically, you get up to 10% of the sale. It is a great passive income stream that you can insert into your blog posts, emails, courses, or coaching.
What is obvious to you may be unknown to others. Find that spot and use it. Teach people what you know. It could be anything from essay writing to bodybuilding. Sites like Tutor Hunt allow you to showcase your skills and provide coaching. Making money coaching is a perfect way to create passive income for freelancers. Just remember that clients are not paying you for coaching, they pay you for the result. This means they do not really care what certifications or credentials you have, they want to see the result.
Lots of people do this kind of work. That’s because there are many high-quality freelance vacancies out there. But it is often hard to know where to start, how to get clients, what content to generate, and how to keep the ball rolling.
Key Takeaways
We hope that the advice above will be of assistance to you in creating your passive income. To be fair, it is not going to be lots of money at the beginning. However, it is definitely worth trying. Start small, study your craft, experiment, learn, give yourself time, and you will eventually get it right.