Freelancing gives you a lot of flexibility in terms of how you invest your time. However, starting a professional business can be challenging because you must do everything from marketing to actual work on your own. When you’re at work, you’re probably wondering if there’s a way to transform freelancing to passive income.
You want to be able to avoid exchanging your hours for dollars and gain flexibility by gaining a passive income at some point. Here are seven steps to help you move from freelancing to passive income.
1. Outsourcing Your Projects
You’ll need to take some time away from your freelancing career to begin working on passive income. Outsourcing your projects is the only way you’ll be able to find the time. There are numerous websites, such as Flexigzz where you can find freelancers to complete your projects. At least you outsources a big part of your project if you can’t find anyone that you can’t trust or as qualified as you.
2. Find a Niche Market
Find a niche where your abilities can be put to good use. For example, are an expert in making sketch animation videos. You must select the appropriate audience and ensure that your reach is sufficiently wide.
3. Use Blog and social media to Build Audience
Building an audience is the only way you’ll be able to monetize your unique knowledge. Create useful content and promote your blog. Through doing so, you will begin to develop a personal brand and a large following in a short period of time.
You can market your blog in a variety of ways. You can create a content marketing plan, distribute free white papers, start an online PR campaign, pay for ads, or invest in SEO. You can also get your readers to follow you on social media and share your content through social media platforms for increased exposure.
4. Create and Sell Products in Digital Marketplaces
You can sell your work on different digital marketplaces. ThemeForest, PhotoDune, Graphicriver, Fotolia, and BrandCrowd are just a few of the sites where graphic designers can sell their work. You can sell video effects on Videohive. Audiojungle assists musicians and sound effect creators in monetizing their work. All you have to do now is search for digital marketplaces that fit your works
5. Teach Your Skill Online
Creating your own course is another excellent way to gain a passive income. Creating video and screencast courses is a great way to get started. Consider if you can use your skills to benefit others. You may make courses to assist web designers, engineers, photographers, and other professionals.
If you already have a loyal following or want to establish a long-term company, you should consider hosting your own online course. Teaching online allows you to keep doing what you enjoy while still providing an informational product that can easily scale to reach more customers.
6. Referral and Commissions
Partnering with other professional freelancers and referring them your clients in exchange for commissions is another smart way to receive or grow your passive income. If you’re primarily a web designer, for example, you could seek out an SEO expert and work out a deal with them in which you receive a flat or recurring fee (until the client leaves) for each client you refer to them.
Those are the steps that you can follow if you want to Make your Freelancing to Passive Income. Aside from what is mentioned in this article, there are several other ways to earn a passive income. So, you can explore other revenue streams that fit you most.
Source : freelancetofreedomproject.com
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Flexgigzz is the Asia leading marketplace for freelancer service and together with SOHO Learning Hub which is an online platform for short courses and both of them aims to be the number one provider in Asia. For growth industries such as E-Sport Authority which is dedicated to providing independent media coverage to all E-Sport News related from around the world and for the art world, there is Atelier Auction which is an investable art auctioneer and being in the art scene for decades