2 January 2011

Passive Income for Freelance Writers

5 ways to turn your website into a passive income source

I hope you all had a very good start in the New Year. I kicked off 2011 by writing two articles (total over 1300 words) and it made me feel really good. I also decided that January will be a month of Passive Income here at WritingMakesRich.

I consider passive income to be one of the more important revenue stream for freelancers. There are only that many hours you can work in a day and at the same time, raising your rates stops being enough at some point.

I’m not going to hide, this Passive Income series is going to serve mostly as my very own resource center as I learn more about passive income opportunities and try to find out which work best for me.

Freelance writers have a lot of options open to them, though most of them demand a lot of time and effort before they even start paying back.

I’m at the very beginning of my freelancing career. I don’t work non-stop and I don’t have a whole bunch of clients. Which means that I do have the time to invest into my future income. There are many things freelance writers can do when they don’t have enough work and while I keep applying for various jobs, I always preferred investing in myself.

Working an hour a day or so on a personal project that has the potential of bringing extra money in might seem like a big commitment, especially if the money isn’t anything impressive at the very beginning, but I believe in planning and considering all the options before actually taking the jump.

I will no doubt write about revenue streams that I’m not involved in personally. I will mention things that are great for writers, but take a lot of time, which is why I’m not tapping into their potential just yet. But they are nonetheless good opportunities and every writer should at least consider them.

It seems like it’s going to be a very productive and a very interesting January, and hopefully a year. Happy New Year everybody!