Automate your cash flow: 3 Passive Income Ideas for Freelancers

If the only kind of work you’re used to doing is the type where you exert all of your time and energy, it becomes very easy to get tired- maybe to the point of throwing in the towel. What if there was a way to around that and make money without having to sweat all the time? Not only would this be more rewarding, it would also be exciting and make you more relaxed as an individual, don’t you think?

Passive work is also work; it just involves a lot less stress than the other kind of work, the one which most of us are used to. Income gotten passively isn’t subject to more scrutiny in the hands of sellers of wares, so why should making passive income be discouraged? However, according to Pat Flynn, there is no such thing as 100% passive income. That shouldn’t come as a surprise, but you can still make a lot of money from these ideas.
Wouldn’t it be glad to literally make money while you’re asleep? I guess it’s one of those stuff which dreams are made of, but really, if it can happen, why do we only dream about it instead of taking the bull by the horns? Easier said than done, I guess.
Building your freelance empire is easier when you have a lot of ideas through which you can make money, instead of relying on just one path which might not even fetch you as much as you want to earn, especially if you haven’t gotten to that stage where you’re a very big name.
A freelancer can automate cash flow, reducing the amount of drudgery he or she would be subjected to, but it would take quite a bit of creativity!
Here are 3 ways to automate your cash flow:
1. Blog
Blogging is one great way of making passive income. Regardless of what you do, your ideas can be converted into tips to be shared on your blog, or simply stories to be shared there. Not only are you likely to make impact on people and make them feel fulfilled when you blog, you are also able to create an income source through your blog. For instance, if your work is showcased on your blog, then clients can reach you by reason of that. If you’re wondering how that qualifies as passive, think of the number of hours you might have to otherwise spend on pitching to clients.
Besides getting clients from your own blog, blogging can also be a source of passive income when you become a guest writer for paid blog sites.
2. Affiliate Marketing
Affiliate marketing can be a huge source of lifetime passive income. What affiliate marketing simply does is to create an avenue through which individuals/companies can make advert placements on your blog and you get paid per click of that post. When you sell anything for someone and are paid a commission for it, you are an affiliate marketer. Don’t be sad if the money doesn’t roll right when you start doing this; because just like anything that would stand the test of time, you would have to invest time and effort into ensuring that your blog gets high ratings and has a lot of traffic before it begins to pay off. But it sure does pay off, and you can be sure that in a number of years- if you are consistent, you would be raking in a decent amount of passive income, thanks to affiliate marketing.
3. Consulting
A consultant in any field is one who has a lot of experience tucked under his or her hat in that field, basically a consultant is a professional who knows the tools of the trade! If you have built a niche for yourself in freelancing, one way by which you can get yourself some more money in the form of passive income is by consulting. What a fun way to earn money! Since you have knowledge in that area, diagnosis of the problems which ‘patients’ have will be easy and the provision of solutions as well wouldn’t be such a horrendous task.
Another good thing about consulting is that there needn’t be fixed prices- in fact, the more experienced you get, the more you can raise the bar on the same kind of advice you’re giving out; because you have even more experience to back that advice and it isn’t just ‘plain talk’. Do think about consulting, and look for people/companies that might be in need of such expertise as you can provide.
Making money doesn’t always have to be strenuous, and having automated sources of income can be the difference between an enthusiastic freelancer and one who is simply tired. Any more tips on how to automate cash flow?