There are loads of ways to make money out there and often, as Creatives, we can get caught up in the art of what we’re doing and forget about the business of art.
To continue doing what we love, the undeniable truth is: we need to make money.
Without money, there are no tools and materials to work with.
Without money, we don’t have time to take a holiday to find our muse and allow creative thoughts to flow.
Without money, there is no food to fuel our creative imagination.
In short, just like everyone else, Artists and Creatives need money to do what they love.
Now that we’ve established that ‘making money’ aren’t dirty words and the act of making moolah is, in fact, extremely necessary, we can start thinking about options of getting that cash into your hands to help you live your best life.
You might have a small or burgeoning creative business where you make items individually by hand and this takes a lot of time (but you totally love it).
This can be so rewarding – but there is always going to be a time when you hit a ceiling of how much you can make in the time you are awake.
You can take on staff and grow your business if that’s what you want.
OR you could try to find some passive income to supplement your income from your handmade business.
What is passive income?
Usually it’s the kind of thing you can ‘set and forget’ and it slowly ticks over and makes you money.
Passive income is not necessarily easy and it can take hard work to get it up and running, but the reward is rarely having to work on it once it’s done and available to the world.
I’m going to give you a list of income streams which you can get going that might compliment your creative business, but that you don’t have to work on day to day after the initial set up.
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Write an eBook
Whether you’re a writer or not, chances are; you are an expert at something. {Hint} Whatever you’re making and selling – you’re an expert at that!
If you’re a silversmith, perhaps you could write a simple printable with tips and tricks that a beginner might need to get their own workshop started and how to sell their own products.
Or perhaps you’ve had loads of success with marketing your business and getting excellent PR. If you write that down and offer your expert information in the form of an eBook, you can charge a fee each time it’s downloaded.
The passive part: Once you’ve written the eBook, you only need to advertise it from time to time and let people pay for your expertise.
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Sell Stock Graphics or Photos
Have you mastered the art of photography through your work on your business?
I see so many amazing Creatives who have incredible photos in their online stores. If that’s you, I bet you have a catalogue of awesome pics which you can sell to people who want stock images for their own website, blog or business.
Some great places to start are Shutterstock, iStock Photo, Alamy and 123rf but there are loads out there which all have differing payment options.
For the graphic designers out there, some of the photo sites will also sell your graphics or you can find companies which specialise in using your graphics for saleable items.
Most people know Threadless Tees and then there’s Society 6, Redbubble, Zazzle and inPRNT which do most of the hard work for you – you just submit the design and forget about it.
The passive part: Take new photos or just grab some from your collection then submit and forget.
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Monetise your blog
So if you’ve been reading this website for a while, you’ll know that having a blog is still a must for your business these days. It tells your story, helps with your SEOs, builds relationships and lots more – read all about it in Megan’s excellent post here.
There are lots of ways to monetise and you can definitely do your own research but the first thing you should consider is whether or not you want ads on your blog.
It’s ok if you don’t – you absolutely don’t have to – but it is a way of adding a passive income stream for almost no effort. Some companies will let you target ads so that they match your target market which means they won’t turn off your loyal followers.
You could also charge for premium content on your blog by having a members-only section where VIPs get exclusive access to content. This could include printables, downloads, special discount codes or expert information.
Affiliate marketing programs are another great way to get some extra income however they can take a little more time (making them less passive). If you have become an authority in your field, you can recommend products adding an affiliate link which identifies you as the referrer and rewarding you with payment.
It’s best to always identify that you are being paid for your review or link to ensure your followers are on the same page.
The passive part: Once you set up these items on your blog, you will only have to come back to add content or write a review
There are so many more ways to make passive income to supplement your income from your creative business.
At some time or other, every Artist and Creative worries about money and how to make sure their business is a success.
Just as in life, diversifying and adding alternative income streams might be a way to give you some breathing room via a regular and reliable income.
As I said before, it’s not easy to set up a successful passive income stream. But once you have, it will hopefully make you more financially comfortable in the future to get on with creating what you love.
