I haven’t been the smartest writer I could be. But the way I see it, it’s never too late to learn a few tricks! These days, it’s not enough just to be a writer. You could get stuck in an endless rut of writing and revising and searching for an agent or places to submit your work and not see one cent in return.
I didn’t really have any clarity on this topic until I spent some time listening to some motivational podcasts that all focus on chasing your dreams . . . practically. Little by little, I learned that there are things I should be doing with my writing that could earn me passive income with my business, and I smacked myself in the forehead when I realized I haven’t been taking advantage of it. Yes, I’m a writer, but I also need to make money where I can.
For example, I have a website. But up until recently, I didn’t even have a “subscribe” button activated on it—I was mostly using it to house my blog and a portfolio of my work. But when I started brainstorming my own podcast idea, I realized I would have to use my website to promote the podcast, but how could I do that without a subscribe button?
I’ve also developed a reputation for writing about true crime—why not use my expertise to share products, books, TV shows, films etc. in this area and use affiliate links to earn passive income? For example, one author I follow sends out a weekly e-mail. One week she’ll share something like a simple list of her top five business books she recommends. If any of her subscribers click on those links and purchase, she earns a small commission. This is passive income for her, but with a following of more than a million people, it adds up. Even if an author had a few hundred followers that could be worthwhile. Another influencer/educator has created her own line of courses on different topics for business owners, as well as templates people can purchase through a Shopify store. She does the work up front to create the modules for the educational programs and templates/checklists and literally earns money in her sleep.
I’m determined to work smarter, not harder in the next year by slowly adding in my own passive-income opportunities. The trick is to alternate offering free education and information to your followers and then offer them an opportunity to purchase something. I’m excited to get started.
Have you created your own passive income tied into your writing business? If you haven’t, I’d love to hear your ideas about how you could implement this yourself.