If you want to earn passive income in 2018, this is why you should consider using your writing skills to do it.
What is Passive Income?
Passive income is money made without an active effort. This is not to say that earning passive income requires no effort at all. It just means that you invest your time and/or money upfront before you see returns.
The idea is to work hard for a short period of time and then make money off that work for years to come. This is how stock market investors operate and how many of the world’s wealthiest individuals are able to retire early– they make smart business ventures in which the returns far outweigh the cost for years to come.
Some examples of passive income are income you make from rental properties paid for in cash or Shopify stores that keep earning long after your investment is repaid.
“But rental properties are expensive!” You cry. “And Shopify stores require, at the least, marketing costs!” If you don’t have any cash to start earning passive income, do not despair:
Writing is a great way to make passive income with no money upfront.
Three Ways to Earn Passive Income Writing
So you want to make some passive income but don’t have any money to invest. Then get out that handy-dandy notebook and get to writing! Here are three ways you can make passive income without spending a dime.
1. Content Writing
Using affiliate links in your blog posts is an excellent way to start making passive income off your writing.
If you don’t have a blog yet, you should first choose a niche that is actually profitable. You will design your entire blog around this topic, so make sure it’s something that interests you and something you can write a lot about. Once you’ve decided on your niche, it’s time to design that blog!
Don’t fall into the trap of thinking you need an expensive website and freelance web-designer to get your blog started. Tumblr, Wix, and a thousand other hosting sites like them offer options for free blogs that are extremely accessible to beginners. Don’t believe me? Check out this incredibly useful article with an infographic to help you find your perfect hosting site.
You have your niche and a shiny new site to blog about said niche, what next? This is where your writing skills come in– it’s time to start creating content. Include links, images, keyword loaded headers, and a few affiliate links and you’re on your way to making passive income as a content writer.
“But wait!” You cry. “Where in all of this does the actual money-making come in?” While there are multiple ways to earn passive income from your blog, I recommend doing so through affiliate marketing since this option requires no money upfront.
2. Online Course Writing
Do you like teaching almost as much as you love writing? If your answer to that question is yes, you may want to consider writing online courses to earn passive income.
Creating an online course is easy. Similar to content writing, you can teach courses through your blog or website. To start making passive income with online course writing, follow the steps to create a niche website. The only difference is, you will have an additional page highlighting the courses you offer through your website.
If you don’t want to sell the courses through your website, though, here is a list of online platforms where you can sell online courses you’ve written.
3. Book or e-Book Writing
Another great way to start making passive income is to write a book or e-book.
Since Amazon started offering free publishing services through their Kindle Direct Publishing platform, it is easier than ever to publish an e-book. Many writers find this to be an extremely attractive option for earning passive income since Amazon offers you 70% of the royalties you earn off sales.
Another reason this option is ideal for writers wanting to earn passive income is the wide range of genres you can write an e-book in. You could write an information e-book teaching others how to craft novels or create their own blog. You could write serialized crime or romance novels. Or you could even write cookbooks!
“But you said this option would cost me no money upfront!” You cry. “If I want to self-publish, I’ll spend countless dollars on professional editing and the cover art and the marketing…”
While you will ultimately make less passive income through the traditional publishing process (at most, 25% royalties to KDP’s 70%), the money tends to flow to the author. This means you won’t pay any upfront costs like you would in self-publishing.
While the writing itself and the traditional publishing process will take some time, writing a book or e-book is one of the easiest ways to start making passive income with no upfront investment.
There you have it, folks! Three exciting ways to start earning passive income with your writing without having money upfront. Leave a comment and let me know how you earn passive income in 2018. Happy writing!
Want to start making passive income writing but don’t know where to start? Check out How to be a Writer in Six Steps and begin your writing journey today!