There is a lot of financial instability that comes with being an influencer or content creator. It’s different from having a 9-5 where you receive a weekly or bi-weekly paycheck. When creating content online, you might get paid by brands on a net60 or net90 basis, which means you get paid 60 or 90 days after you’ve posted the deliverables. This makes it hard for creators to even estimate how much money they’ll make that year. To battle this instability, you should focus on developing passive income streams – here are 5 ways to build passive income streams as a content creator.
Passive income is a form of making money that typically doesn’t require lots of attention. It can come in many different forms and can increase your income for less ongoing work. It’s a great option if you’re looking to make more money but don’t have consistent extra time to commit to another income source.
You can create your own class for something you’re knowledgeable about. Once it’s been created, it can be purchased and viewed by a variety of people that want to learn! The best part is that once you create and promote it, there’s no limit on how many people purchase the course and you don’t have to spend lots of additional time on it.
There are many platforms for online courses, such as Udemy, Teachable and Skill Share.
You can find affiliate programs for almost any brand, no matter the size. Partnering with brands for personalized affiliate links can earn you money for each person that uses your link or discount code.
This is probably the best form of passive income because all you have to do is promote it with your own purchases from brands. You can find affiliate links at ClickBank without even partnering. Or you can also join & download the LikeToKnowIt app.
While running an e-store might be a lot of work, you can sell downloadable content! This could be images, Lightroom pre-sets, printable products, or PDFs.
This can be completely automated with online sites like Etsy and Shopify. However, there may be a small fee on your sales or monthly cost.
To keep track of affiliate links with brands and any other kind of collaboration, make sure to sign up for Klaia!
If you aren’t already a content creator that has a blog, you can start now! Similar to YouTube, you make money on old posts for as long as they’re up and available to your audience. The key here is to build an audience and to display ads.
However, keep in mind that it takes time to build an audience on a blog and the profit will come from incorporating some the other options listed above.
A great way to make money is selling your own photographs online. This may not seem passive, but you can sell your photos repeatedly.
If you are already doing some kind of content creation that involves photography, try to take a few extra photos that you can sell. The production will feel less time-consuming this way.
It’s important to consider the kinds of photos that are more in-demand. Some places to sell your photos are Getty Images, Alamy, or Shutterstock.
Build passive income streams and also diversify those income streams to ensure (some) financial stability as a content creator.
