Active and Passive Freelance Writing Income
Monday, 24 August 2009 07:43
Author: Master Dayton
Many first time authors jump into the freelance writing world without realizing that there is more than one type of income available. Most writers, and most workers in general, understand the normal "paid once for work done" model. You write a batch of articles, an e-book, a press release, and you get paid for that work and that's it. You made what you made. Do the job, get paid, and move on.
Many first time authors jump into the freelance writing world without realizing that there is more than one type of income available. Most writers, and most workers in general, understand the normal "paid once for work done" model. You write a batch of articles, an e-book, a press release, and you get paid for that work and that's it. You made what you made. Do the job, get paid, and move on.
As a classic example of the "paid once" model: you write 10 articles and get paid $50. Another example would be to write a list of 50 fun facts for $1 per fact, or you get lucky and get paid $18 an hour, but then you're only allowed to charge for "x" number of articles and then you're done. Once you do this work, it's done and over with and you never make any more money off of it. These are examples of one time payments, and the type of payment that most freelance writers are used to.
But there is another form of income that should be very appealing to freelance writers. In fact, it has spawned a whole new job category of "Internet Marketing." There is the payment method that is called residual income, also referred to as "passive" income. The best example of passive income in the real world would be royalties, or some type of a system where you get a percentage of a referral's income.
Passive income takes place when an article you wrote, or web page, is online and continues to make money for you week by week, month by month, long after you've finished working on it. Usually this is done by having some kind of ads on the page where the writing is displayed, and when someone clicks on those ads the author gets at least a cut of the money made. This way an article that you write a year ago or more can continue to make money for you every week, month, or even day after you've finished working on it.
Maybe the most common way for pages to do this online is using Google AdSense. They're the most famous, but there are many other advertisers who offer a cut, as well as affiliate marketing, and "pay per view" websites. Beyond these examples, there are also websites who take care of the money making aspects and allow writers to simply write and then give them a cut of whatever amount is made. This allows the writer to write and keep getting paid.
Online freelance writers are in a situation where they can actually earn both types of writing income: both passive and active. This is actually one of the best strategies that a beginning freelance writer can have. The one time payments help you pay the bills, learn your craft, and get an idea of how the markets work. Meanwhile, when you have sent out query letters or have all your bids out for online jobs, you can write for yourself and build up your passive online income. It takes a lot of time for passive income to grow, which is why it's so important to have a writing strategy that uses both.
Online freelance writers can enjoy two streams of income: the active and the passive. The best part about this is that when there are tons of active jobs you have to rush to get done, the passive income streams will just keep on making money without any help. When work gets really slow or thin (like during this last recession), then you can keep working on the residual income knowing at least a little more is going to come in. The combination of these incomes, and perseverance, is the only way to have a successful freelance writing career.
Whether you are a novice writer, or an experienced freelance writer who simply hasn't looked at passive income yet, don't wait another day to get started. Having two income streams like this is just smart business sense, and in a freelance world where the next paycheck is never certain, it's always nice to know you have several hundred dollars or more coming in the beginning of every single month from your passive income.
Many first time authors jump into the freelance writing world without realizing that there is more than one type of income available. Most writers, and most workers in general, understand the normal "paid once for work done" model. You write a batch of articles, an e-book, a press release, and you get paid for that work and that's it. You made what you made. Do the job, get paid, and move on.
As a classic example of the "paid once" model: you write 10 articles and get paid $50. Another example would be to write a list of 50 fun facts for $1 per fact, or you get lucky and get paid $18 an hour, but then you're only allowed to charge for "x" number of articles and then you're done. Once you do this work, it's done and over with and you never make any more money off of it. These are examples of one time payments, and the type of payment that most freelance writers are used to.
But there is another form of income that should be very appealing to freelance writers. In fact, it has spawned a whole new job category of "Internet Marketing." There is the payment method that is called residual income, also referred to as "passive" income. The best example of passive income in the real world would be royalties, or some type of a system where you get a percentage of a referral's income.
Passive income takes place when an article you wrote, or web page, is online and continues to make money for you week by week, month by month, long after you've finished working on it. Usually this is done by having some kind of ads on the page where the writing is displayed, and when someone clicks on those ads the author gets at least a cut of the money made. This way an article that you write a year ago or more can continue to make money for you every week, month, or even day after you've finished working on it.
Maybe the most common way for pages to do this online is using Google AdSense. They're the most famous, but there are many other advertisers who offer a cut, as well as affiliate marketing, and "pay per view" websites. Beyond these examples, there are also websites who take care of the money making aspects and allow writers to simply write and then give them a cut of whatever amount is made. This allows the writer to write and keep getting paid.
Online freelance writers are in a situation where they can actually earn both types of writing income: both passive and active. This is actually one of the best strategies that a beginning freelance writer can have. The one time payments help you pay the bills, learn your craft, and get an idea of how the markets work. Meanwhile, when you have sent out query letters or have all your bids out for online jobs, you can write for yourself and build up your passive online income. It takes a lot of time for passive income to grow, which is why it's so important to have a writing strategy that uses both.
Online freelance writers can enjoy two streams of income: the active and the passive. The best part about this is that when there are tons of active jobs you have to rush to get done, the passive income streams will just keep on making money without any help. When work gets really slow or thin (like during this last recession), then you can keep working on the residual income knowing at least a little more is going to come in. The combination of these incomes, and perseverance, is the only way to have a successful freelance writing career.
Whether you are a novice writer, or an experienced freelance writer who simply hasn't looked at passive income yet, don't wait another day to get started. Having two income streams like this is just smart business sense, and in a freelance world where the next paycheck is never certain, it's always nice to know you have several hundred dollars or more coming in the beginning of every single month from your passive income.
Writer:
And if you would like to learn more, please visit my Master Dayton Blog for more great free advice on finding work, passive and active income, and more online writing tips.