Passive income is a concept that people like to argue about. There are multiple schools of thought, but the same principle exists in each definition. The most basic definition is that passive income is anything that generates money while you are not actively working on it.
Passive Income in regards to content creation is creating something one time that you can sell in perpetuity.
This “creation” is called an asset.
This is where it gets good. When I was early on in my career, I got a hold of Robert Kiyosake’s book, “Rich Dad, Poor Dad”. It was a total paradigm shift when I learned that the rich didn’t trade their time for money, but rather bought assets that generated the money for their lifestyle. The problem with that was, I wasn’t making enough money to purchase any assets. Over time, I realized that there are other assets that you can create, such as a side business or goods to sell. These were a great starting place, but they didn’t create me any passive income…until I began my graphic design business and discovered Merch by Amazon.
Free places to develop design skills:
Places that will teach you in depth graphic design for minimal cost:
TheVectorLab.com – Ray Dombroski is an incredible artist and teacher
Possible course coming soon by Cosine Designs.tt
In order to create passive income with graphic design, you need to think about 2 words.
The Buy Buttons concept is taken from Nick Loper’s book of the same name. The concept is super easy to understand, but it takes effort to execute.
1. Create an Asset
2. Find as many platforms online that will allow you to post that asset and get paid for it.
3. Post the asset and get paid over and over for the single piece of content.
In order to create high quality assets, all you need is a computer and a piece of software that lets you digitally create assets.
Free Online Software:
Adobe Illustrator – For vector based graphics
Adobe Photoshop – For creating and editing photos
Adobe Indesign – For creating and editing large documents like books and pamphlets
Corel Draw – For vector based graphics
Tools I use for Merch by Amazon:
There are a TON of places to upload your designs and sell them, and here are a few that we see people being successful on. Each of these platforms may have their own content area on our site in the future, but for now, we’ll just link to them:
Etsy.com – you’ll have to learn how to use dropshipping for this.
Self-Published and Low Content Books:
Kindle Direct Publishing – KDP.com
Create a Shopify store.
Last, but not least, creating your own personal blog to showcase your skills and creations may be the best way to control your content and begin to create a following by using it as your home base for all of your other content.
Here are a few of my favorite places to to learn about passive income.
SmartPassiveIncome.com with Pat Flynn
SideHustleNation.com with Nick Loper
MarketYourMessage.com with Jonathan Milligan
Side Hustle School Podcast