Passive income is a great way for designers to earn a little extra every month alongside your full time or freelance gig. In this episode of Design Life we discuss the different passive income streams we have used successfully, what we have learned and what we hope to try in the future.
Earning an income on the side as a designer, in any industry in fact, is pretty cool. Income earned without the direct transaction of time for money is passive. Passive income gives you an opportunity to earn money for something you have already done while also giving you the chance to develop different revenue streams.
Affiliate links are a great way for designers in particular to generate passive income. An affiliate link is a link you post which other people use to buy a service or product. You then earn commission on the product or service bought. Affiliate links are particularly good for designers because we are already talking about and recommending different design tools all of the time.
A necessary precursor to generating many forms of passive income is building an audience, whether that be through social media, YouTube or email marketing.
Try to find the opportunities where you can get a big win for minimal effort. Consider what you already have available or what you have already made. Could you sell your textures or fonts on an online marketplace to generate some passive income? Consider the time you have already invested in making the assets, generating a little extra revenue from something you have already made is a smart move.
01.14 – Catch up
05.51 – What is passive income?
12.00 – Affiliate links
17.00 – Other ways to generate passive income
20.45 – Building passive income without an audience
22.40 – Licensing