Spiritually-aware people want freedom. You may know what I’m talking about, just like plenty of other people who are waking up to see the old system as totally out of balance. When working online it’s one thing to get paid per project, but you should seriously start growing a PASSIVE income when freelancing. You want freedom, right?
The meaning of passive income implies creating an income source that will pay you sporadically, periodically, or on a recurring basis, without any time or work invested. Usually this means payment as a commission for referring products from other online businesses.
One of the most important choices I made that led me to have the freedom I wanted was to trust my dreams and leave a job working in a hotel. After 5 years of working the night shift at this city hotel, I finally had enough.
First, I will quickly explain what “passive” and “recurring” income are. Second, I will share the method I have used to create a work-from-anywhere lifestyle with freedom and flexibility.
It’s easy, and anyone with a computer can learn how to do it within a week.
What are recurring and passive income?
I think it’s good to cover what the difference is between these two terms because you will have to deal with both, and there are differences. In my opinion, one is more “fun” than the other.
First of all, let me cover “recurring income”.
Recurring income will be money that you get paid on a recurring basis – like from a client that pays you monthly for a service. That means that there is work involved because you will have to follow up and deliver for the time your client has paid you for.
Passive income is money you get paid monthly, or periodically, but there is no work involved. In case you haven’t heard about it and it sounds weird – yes, it’s a normal thing on the Internet.
I personally have both recurring and passive income flowing in. My goal is to grow as much passive income as possible. Let me give you two examples of how I do this:
Shopify is paying me about $600 monthly for doing nothing. I recommended Shopify stores to my clients in the past, and I still do. The stores that are active signed up through my affiliate link, or set up through my partner account, give me a 20% monthly commission.
ConvertKit is an email service I recommend to all my clients unless they are truly happy using the one they already have. ConvertKit pays me a 30% monthly recurring commission for every client that signs up using my affiliate link.
I also have other recurring affiliate income every month that is “passive income” because it is running on its own.
To clarify – some of my income is passive because I share my partner or affiliate link online and with my clients. When new customers sign up, I get paid automatically. There’s no other work involved.
Sometimes, like with Shopify and ConvertKit, those commissions recur every month – and not just with a one-time commission (which is normal).
Creating Websites – Simple Way to Passive Income when Freelancing
First, here’s a beginner’s quick blueprint on how to make money creating websites.
After quitting that hotel job, and with greater joy and feeling of purpose, I started my online business. My focus at that time was creating websites, and getting jobs was rather easy.
They just came to me as soon as I did my first 2-3 projects. I guess it was mostly through word of mouth.
I started from ground zero. My first few websites looked like a really bad dream. At that time I used manual HTML combined with “Dreamweaver” and Photoshop (lol!).
That’s not how it is done now. You don’t need any coding or design skills at all to built beautiful websites and get paid for them.
Now, earning a part-time or full-time income creating websites is not all that hard. Like I said at the beginning – it’s one thing getting paid for the project itself, but you shouldn’t just get paid one time for the job. You should also add on with passive income!
What I have discovered in my “Accelerate to Freedom” Coaching, and by talking to beginners, is that most newbies to this business do not focus on growing their passive and recurring income streams.
Unfortunately, I have also seen this in well-established freelancers and Digital Nomads.
Learn How to Grow Your Passive Income While Freelancing
In this article, I’m going to show you MY method of creating a solid income by working online, from anywhere. However, there are lots of other different services around that can do this as well.
My trade is Web Design, and now, compared to a few years ago, it’s pretty easy to do.
If you have a laptop or home computer with an Internet connection, you’re basically set up to build websites.
When building a website for a client you normally get paid for that one single project. Maybe you split the payment up into a 50/50 percentage, or maybe a 70/30 before and after. When the job is done though, that’s it.
So to stabilize your future freedom, learn the clever ways of growing your passive income when freelancing. So if you already do work online, make sure you learn the various methods to start growing your income streams as well.
And it’s not just for Freelancers and Digital Nomads building websites. You may have the skill to do graphic design, copywriting, coding, photo editing, marketing, social media management, or other digital content.
With most types of work, there are services you can offer and tools online you can promote to clients that will bring you that extra stream of income. Basically, a type of income that only can grow over time.
The following article about how to build a passive income working online will show you some of the steps I’m talking about.
I also wrote a quick-read eBook teaching complete beginners the workflow on how to grow passive income. It will also give you the 11 most important recurring and passive income streams I make money from now.
For a case study in this, here’s an article about Sean Martin, a clever guy that I supported through coaching. I showed him how to start a podcast and set up his online business.