There are several different ways that freelancers can make money. The most common and obvious way is to sell your services. However, diversifying your income beyond your services can be a great way to keep the cash flowing each month, even during the slow times.
Having an active income is great. You receive a project and actively work at it until completion, at which point you get paid.
Having a passive income is amazing! You work on a project (often self initiated), complete it, and put it up for sale somewhere. There will be some minor upkeep for the project, but for the most part, all you have to do is watch it sell.
Passive income comes in many forms including selling templates, products, stock artwork, and ebooks.
“3. Ebook Sales
In around 2008, I first picked up Tim Ferriss’ book: ’The Four Hour Work Week’. It got me really excited about the idea of earning money passively. After I read the book, I got to work writing my own so that I’d have a product to sell online.
It was an ebook entitled: ’10 Steps to Powerful Online Self Promotion for Creatives’.
Read the full book for free, here.
I had learned a huge amount about online promotion through being a self-taught illustrator, and knew there was a gap in the market for other creative professionals needing help with marketing.
I wrote the book in about two months, and launched it via RLC in January 2010 (I’ve since taken it down because I’ve replaced it with updated approaches).
With a small audience subscribed to the site, the book did very well, selling over a hundred copies at launch, and a few hundred over the next year and a half. For me at that time, it felt like a huge success and it inspired me to keep writing from that point on.”
Read the full article at the Red Lemon Club.