What is it and how does it work for artists and designers?
Ever dreamed of sitting back, doing nothing and just watching your bank balance grow?
This is not blue sky thinking, but a savvy way to generate income even when you’re asleep.
Welcome to the world of residual income – a term that enables you to earn money round the clock. This passive income generator is what can happen after you have put a lot of effort into a job that continues to pay months or even years later.
Setting up to earn residual income is relatively straight forward and there are different ways to keep generating money from royalties from intellectual property, such as books and patents to subscriptions and affiliate links from your blog/website.
Equally, transferring the rights to a song you recorded or a software program you created to a company agreeing to pay you a percentage of each copy of your work sold to e-book sales are all forms of residual income
Good at art or photography, then what about stock photography royalties or art licensing?
How to keep the money rolling in
The ideal income stream means you won’t have to market personally or interact with the business. However, realistically, you’ll have to put effort into continuing receiving residual income on the business you started.
Marketing your online sales through social media and your network will help earn. Think of it as a part time job that can potentially bring in full-time pay.
Residual income advantages
You can be financially independent if your residual income produces enough money.
Having residual income allows you to do more important things.
You’ll have a constant flow of income. Critical if you get injured or sick, can’t work because of another emergency, or if you just want to take an extended vacation. You’ll make money no matter where you live, unlike a fixed job income.
Of course, before the money starts rolling in you will have to put time, effort and money into the project. Patience and determination will seal future residual income.
Residual income also unbinds your ties to your everyday business. Small business owners often cite a lack of hours, staff problems, cash-flow struggles and frustration at being tied down.
So, ask yourself: What if I had a business coach alongside me right now, urging me onwards and upwards? What if I had a mentor who’s been where I’m going? Would that sort of support make a real difference to you and your business?
Here’s our guarantee. We can help you drive your residual income through our business coaching. We’ll enable you to get more control faster, make money sooner; enable you to spend more time doing what you really enjoy and live the dream you first set out to achieve.
Take action now and reserve your seat Now.
We are running workshop at COSydney. You can book your workshop on the following dates:
- 20 June 2015 From 10.30 am-1.30 pm
Allow us to unlock the secret to your residual income generator now.
You’ll have the opportunity meet established artist Gabby Malpas. Gabby will share her journey with you.
Gabby Malpas is a practising and exhibiting artist, and has been since 1987. Gabby combines her art practice with her corporate experiences. She is now a full time artist doing what she loves.
Gabby will share her knowledge with you, give practical advise, and will encourage questions.
Find out more about Gabby Malpas here: www.gabbymalpas.com
Hosted by Vinh Van Lam & Stuart Horrex; Cofounders at CoSydney – Sydney CoWorking + Project Space
PAY IT FORWARD:
The payment requested for attending this seminar will be used to provide coworking space & support to emerging creative industry professionas as part of our commitment to the creative industry of Australia; an ArtSHINE sponsorship program supporting the development of business and entrepreneurial skills of Australian artists, artisans, and associated creative industry communities.