Sharing your expertise and skills that you have learned building your career or leaving a family legacy are admirable motives. Legacy: Making money should not be the only reason to publish.Control: Self-publishing gives you the final say on all aspects of your books no someone else.However, in self-publishing, you can write books based on your expertise and ‘test the water’ by short-run printing. Niche: A traditional publisher is less interested in publishing niche specific writings because of their mass market appeal.You need to purchase the rights before you can do that. If they lose interest in your book and doesn’t print and sell you can’t print yourself those books. In traditional publisher, you don’t own the rights. Ownership: In self-publishing, you own all the rights of your books.But in the case of self-publishing, you may get higher royalty depending on the platform you are using. Profit: A traditional publisher will finance the project and you may be offered 5-20% royalty. In many online services such as Amazon print/ ingramspark, your book production and distribution starts immediately after receiving an order ( you or customer ). Time: Traditional publishing takes too much time in producing your books which are not in case of self-publishing. There are many reasons to choose self-publishing. Then, reach out to brands with your media kit and pitch them on advertising on your social media, blog, newsletter, or podcast.Unlike traditional publishing companies, a self-publishing author allows the author to be in control of the entire creative and selling process.Ī self-published author you have to pay the cost of producing your work and are responsible for marketing and distribution.Īt present individuals, corporates and many organizations are using these services. If you're looking to get started doing this, put together a media kit that outlines your platforms and metrics. This generates close to $1,000 a month in passive income for my business. This is different from an affiliate model where you get paid based on how many people buy a product. I pick the brands I believe my audience will enjoy hearing from and get paid through a one-time fee. Every month, I sell ad space for people to market their businesses on my newsletter and podcast. Selling adsĪfter years of building my platform (social media followers and email subscribers), I decided to make passive income off the people who consume the content I create for my different businesses and brands. If you have a current business or brand, you can set this up by designing the item for free using Canva, and then hosting it on a website like Amazon Merch or Printful, where they take care of the details after the purchase is made. I don't have to think about making the product, putting it in the mail, or even handling refunds. I did this by selling print-on-demand merchandise.Īfter I designed hats and T-shirts and listed those items on my website, whenever a person went to buy an item, the print-on-demand store would print it and ship it to them. I decided to create a product for my business that would generate passive income and not require much of my time. They then pay monthly interest on these loans and I receive a share of those payments. Since I'm just getting started doing this, I'm using a website called PeerStreet, which lets you lend capital to people who are real estate borrowers. This is when you loan money to borrowers who might not qualify for traditional loans. Peer-to-peer lendingĪnother way I decided to diversify my investment portfolio and make passive income was through peer-to-peer lending. If you're interested in doing this, you can start with a small amount ($100 even) and do it through a platform like MainVest. While my monthly passive income from this route will pick up over time, it's allowed me to become an investor in businesses for the very first time. I decided to invest a small percent of my income every month in businesses that agree to share a percent of their future revenues until this investment is paid off. Investing in small businessesĪs a small business owner myself, I wanted to find a way to invest in other entrepreneurs and make passive income as their businesses begin to take off and see profit. All you do is shop through their portals, and when you buy an item from a store, you can get anywhere from 1% to 30% cash back. I also use cash-back websites, like Rakuten and TopCashBack, for online shopping. I usually find myself getting around $30 to $50 a month in cash back from using this card. I get unlimited 3% cash back on dining, entertainment, my streaming subscriptions, and at grocery stores. I decided to get a cash-back credit card to use for my everyday purchases. An easy way I've been making passive income lately is through cash-back credit cards and websites.
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