Quick Disclosure - This post may contain affiliate links, which means I may receive a commission (at no extra cost to you) if you click the link and make a purchase. Please read my disclaimer policy for more information.
Passive Income Ideas for Writers
As aspiring authors, it’s normal to have fear and anxiety about supporting ourselves financially while pursuing our passion. Let’s face it: making money from our books takes time.
That’s why many of us fall back on the 9 to 5 to keep our writing aspirations afloat. But these unfulfilling jobs take up so much of our time, and often, our writing takes a backseat!
Enter passive income, the solution to our writing and financial woes.
When you create passive income streams, you no longer have to trade time for money, which frees you to do more of what you love – write.
Don’t worry if the idea of passive income is new. In this post, I will explain how passive income works and share the best passive income streams for writers.
Keep reading to say goodbye to financial stress and hello to more writing time!
What is Passive Income?
Passive income is a term that has been buzzing around the internet for quite some time.
But what is it, and how is it different from a paycheck? Well, let me break it down for you.
A paycheck or active income is the money you earn by trading your time and skills for money. This is your typical day job where you get paid a salary or hourly wage. If you don’t show up to work, you don’t get paid.
On the other hand, passive income is the income you earn without actively working for it. For example, when you buy stock and earn dividends, you earn passive income because you make the money that flows from the stock without lifting a finger.
Some income is more passive than others. Stock dividends are purely passive income. Rental income also falls into the pure passive income category.
Other types of passive income require a limited amount of time, but once you complete the work, you have the potential to get paid indefinitely.
Book royalties are a perfect example. You will spend a few months writing and editing your book, and once you complete the book and it sells, you will get paid for as long as the book remains on the market.
In this post, I won’t cover stock or rental income because that requires a large upfront financial investment to generate the amount of passive income you need to free up your time.
We can leave the stock and real estate investing to when you are generating the big bucks from your book sales.
I’m also not going to cover book royalties because first, we need to make more free time to write the actual books we plan to sell.
But don’t worry. You don’t need stock, rental income, or book royalties to work less and write more.
As a freelance writer, there are several passive income streams that you can tap into that don’t require a large financial investment or best-selling author status.
Benefits of Passive Income
By exploring new ways to make money (outside of the 9 to 5), you can increase your cash flow and focus on your writing without all the financial pressure.
One of the best things about creating passive income streams is that it can help you avoid the unpredictable income highs and lows of being a freelance writer. A more predictable income means less time worrying about your finances.
Another benefit is that passive income can give you more time and freedom to focus on the writing projects you love. When you’re not constantly scrambling to earn money, you can devote more energy to writing your stories.
Of course, creating passive income streams does require some upfront effort. You’ll need to invest time and some money into creating products or content that can generate revenue over time.
But the potential rewards are well worth it. With some strategic planning and creative thinking, you can build a portfolio of income streams that support your writing career and give you greater financial security and peace of mind.
Passive Income Streams for Writers
Create a Website and Blog
As a writer, you have a powerful tool to attract readers, set up an author platform, and establish a strong online presence: your website.
Creating a website where you provide valuable content and showcase your writing allows potential readers to find you and discover your work. A website helps you attract a loyal following of readers and fans who will be eager to support your writing career.
The cherry on top is that starting a website can be a great way to earn passive income. Your website’s earning potential is limitless, and you can monetize it through ads, affiliate marketing, and even selling your products or courses.
Here’s a quick guide to setting up a website and blog:
- Choose a Domain and Hosting: Select a domain name that reflects your brand as a writer (your name works) and choose a reliable hosting provider like Bluehost.
- Create Helpful Content: Create high-quality, helpful content for your target audience. This can include writing samples, blog posts, author insights, and behind-the-scenes looks at your creative process.
- Connect with Your Audience: By seeking feedback from your audience, you can encourage interaction and build a community around your writing.
- Monetize Wisely: Look into the various ways to monetize your website, such as affiliate marketing, display ads, and product sales.
Whether you’re a seasoned author or just getting started, a website is super important for building your brand and growing your online presence. So don’t wait any longer – start building your website today and start reaping the benefits of passive income!
A great beginner resource is The She Approach to Starting a Money-Making Blog.
To get started, you can also check out the following blog posts:
Affiliate Marketing
Let’s dig deeper into affiliate marketing.
Affiliate marketing is a popular business model for bloggers who want to earn passive income by promoting other people’s products or services. You earn a commission when a sale is made through your unique affiliate link.
The key to successful affiliate marketing is to create helpful content for your audience and then provide genuine recommendations by seamlessly integrating your affiliate link into your content.
Affiliate marketing is great for bloggers for a few reasons:
- Affiliate marketing generally requires little investment, making it easy for new bloggers to start.
- Once you set up your affiliate links, you can earn commissions on sales with little effort.
- There is no limit to your earning potential.
- There is an endless range of products and services to promote.
Getting Started with Affiliate Marketing
If you’re new to affiliate marketing, here is a quick rundown on the key steps to get started:
- Choose Your Niche: Identify a niche or topic you are passionate about that aligns with your audience’s interests.
- Select Affiliate Programs: Research and join reputable affiliate programs relevant to your niche. Popular options include Amazon Associates, ShareASale, and ClickBank.
- Create Quality Content: Develop high-quality, engaging content that provides value to your audience. Incorporate affiliate links naturally within your content.
- Promote Your Content: Use social media email marketing to drive traffic to your blog and affiliate links.
By following these steps and consistently creating valuable content, you can use affiliate marketing to generate passive income while providing genuine value to your audience.
Ad Revenue
Ad revenue is also great for writers and bloggers. If you create a website, services like Google AdSense allow you to display ads on your site and earn money whenever visitors click on those ads.
I like the idea of ad revenue because it’s completely passive. You place an ad on your site, and there’s nothing more for you to do.
The key is to continue creating compelling and valuable content that attracts a steady stream of visitors to your site. This will increase the potential for ad clicks and, in turn, passive income.
Also, remember not to overwhelm your site with ads. That gets annoying. You’ll have more luck with ad revenue if you place ads in strategic places on your site. Less is more!
As your traffic grows, you can sign up with more lucrative ad revenue companies that pay more for clicks than Google Adsense.
You won’t get rich with ad revenue, but when combined with other passive income sources, ad revenue can add up.
Getting Started with Affiliate Marketing
- Sign up for an ad network like Google AdSense.
- Place ad codes on your website.
- Generate traffic to your website using social media, SEO, or Pinterest.
As your audience clicks on the ads, you earn money. It’s like getting paid for sharing cool stuff with your friends.
Sell Printables
One of the most lucrative passive income ideas for writers is creating and selling printables on sites like Etsy, Shopify, or even your website.
Printables are digital files that customers can download, print, and use for various purposes. From calendars, to-do lists, meal planners, and more, printables are in high demand these days. They are a great way to help people stay organized, motivated, and on top of their game. The best part about printables is that they require minimal effort to create.
You can research popular niches and create printables around them to get started. For example, if you’re a mom, you can create printables around meal planning, chore charts, and educational activities for kids. Once your products are ready, you can list them on sites like Etsy or Shopify and promote them on your social media channels.
All you need is to come up with a good idea for a printable, design it using tools like Canva or Adobe Illustrator, and then upload it to a platform like Etsy or Shopify. You can also sell them on your website if you have one.
The beauty of printables is that they are infinitely scalable. You can create one design and sell it over and over again without having to worry about inventory or shipping. Plus, you can set your own price and keep all the profits for yourself. It’s a win-win situation!
So why not put your writing skills to good use and start creating and selling printables today? With some creativity and effort, you can create a profitable passive income stream that will keep giving for years.
Getting Started with Selling Printables
- Create eye-catching printables like planners, wall art, or helpful worksheets.
- Set up a shop on a platform like Etsy or your website.
- Showcase your printables with enticing images and clear descriptions.
- Set your prices and customize your shop with your branding.
- Start promoting your printables on social media, Pinterest, or through email newsletters.
When customers purchase one of your printables, they download it instantly, and you get paid. It’s a great way to share your talents and help others while making extra cash. So, roll up your sleeves, get crafty, and share your amazing printables with the world!
If printables interest you, Sell Printable Word Art with Canva and Etsy is a great, inexpensive course.
E-Courses
Creating and selling an e-course is an incredible way for writers to generate passive income streams. It is an excellent opportunity to supplement your writing income while sharing your expertise with others.
You can create e-courses on various topics, from creative writing to gardening and cooking. This allows writers to explore their interests and passions while earning money.
With the world going digital, e-courses have become increasingly popular, making them an excellent platform for you as a writer to showcase your skills and knowledge.
By selling your e-course through your website or platforms like Skillshare, writers can reach a wider audience and earn a steady stream of passive income.
Getting Started with E-Course Creation
- Identify Your Expertise: Choose a topic that you’re knowledgeable about, and that would benefit your audience.
- Plan and Create Content: Create a curriculum or list of lessons for your e-course, making sure you cover all the information your audience will need to learn the topic.
- Choose a Platform: Look into e-learning platforms like Teachable to host your course.
- Promote and Optimize: Use social media and email marketing to promote your course.
To learn more, check out this great court for beginners.
Print on Demand
With the rise of print-on-demand services, creating and selling your products without worrying about inventory or shipping is easier than ever. Print on demand allows you to create custom designs for products like t-shirts, mugs, and tote bags and have them printed and shipped directly to your customers as orders come in.
One of the best things about print-on-demand is that you can sell your products on your website, giving you complete control over your brand and profits. You can also use popular platforms like Amazon and Etsy to reach a wider audience and take advantage of their built-in customer base. With some marketing and promotion, you can start earning passive income from your designs in no time.
Opening a print-on-demand store is a great way to earn passive income and allows you to showcase your creativity and build your brand as a writer. By creating unique designs that reflect your writing style and brand, you can connect with your audience in a new and exciting way.
The low startup costs and minimal time investment make it a low-risk way to diversify your income streams and support your writing career. So why not try print-on-demand and see how it can boost your income and brand?
Here is a quick breakdown to get started with Print on Demand
- First, find a Print on Demand platform like Printful or Printify.
- Then, create an account and upload your designs or artwork.
- Next, choose the products you want to sell, like t-shirts, mugs, or phone cases.
- After that, set your prices and customize your storefront with your branding.
- Once everything looks good, it’s time to start promoting your products on social media, your website, or through your email list.
When a customer buys one of your products, the Print on Demand company handles the printing, packaging, and shipping for you, and you get paid. It’s a cool way to turn your creativity into cash without dealing with inventory or shipping hassles.
Give it a try, and have fun with it!
Self-Publish an Ebook
As a writer, one of your ultimate goals is to make a living from your writing. One of the best ways to make writing income is by writing and selling an e-book. Like an e-course, you can write on a variety of topics.
Not only is it a great way to earn passive income, but it also allows you to showcase your talent and build your brand as an author. With the rise of self-publishing platforms like Amazon, Kindle, and Etsy, it has become easier than ever to sell your e-book online. You can also sell the book on your own website, which gives you complete control over the pricing and distribution.
The best part about selling an e-book is that it can be a source of income for years to come, even while you focus on other writing projects. So, if you’re looking for a way to support your writing career, consider writing and selling an e-book. Not only will it provide you with financial stability, but it will also allow you to share your passion for writing with a wider audience.
Proofread and Edit Content
If you love playing with words, fixing grammar, and spotting typos, you can earn income through proofreading and editing.
The world of proofreading and editing can be a great way to make money on the side. While not precisely passive, proofreading and editing are ways to use your writing skills to make extra income.
To get started:
- Brush up on your language and grammar skills. If it’s been a while, brush up on styles such as MLA to take on various types of content.
- Find opportunities to offer your services on freelance platforms like FIVERR.
To transform proofreading and editing into a source of passive income, consider creating digital products or resources related to proofreading and editing, such as e-books, online courses, or templates for everyday editing tasks.
You can sell these products on platforms like Etsy, earning passive income without an ongoing time investment.
Final Thoughts on Passive Income Streams for Writers
As an aspiring author, making ends meet while pursuing your passion can be tough. However, passive income is the best way to create income that doesn’t require you to sacrifice your writing time. There are many options for you to consider, including starting a blog and creating and selling e-courses and e-books.
Fortunately, there are numerous ways to make passive income that align perfectly with your passion for writing. This helps you supplement your income while staying true to your creative goals.
In addition to blogging, creating e-courses, and crafting e-books, other ways are worth exploring, such as affiliate marketing, self-publishing, and freelance writing.
So, if you’re a writer looking to support your career and create more financial stability, don’t be afraid to explore these passive income ideas. With a little hard work and creativity, you can start earning money while still doing what you love – writing!