Monday, February 9, 2015

What To Do When You're Waiting

So, what do you do when you've called your clients, sent out your drafts for review, bid on all the jobs, and emailed your prospects? You wait.

What do I do when I am waiting for people to get back to me?

Well, if this was last year, I'd be scrolling through my Facebook feed, or tweeting or doing some other time-wasting web surfing. True, I still do that, but I limit it now. I've set a time limit for goofing off. 

What I do with my waiting around time now is work on Passive Income Projects. I've spent some of the past few months thinking about how to generate passive income.

Passive income is income you get from something you did in the past. Royalties from book or music sales is a prime example. It's something you create once and sell many times. Patterns, coloring books, books, recorded music, fabric designs - all these things (and more) can be passive revenue streams. 

They do take some time and effort to create. And they do take some time and effort to market. There are ways to have other people help you market the things you create, but you have to create them first.

My list of passive income projects are these:
  1. Illustrate the two children's books that I've written.
  2. Write up the quilt patterns I've had on the back burner for the past 5 years.
  3. Promote my music that I've finally made available for purchase online
So, what are your ideas for creating passive revenue streams for yourself?

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