Take some of your better pieces and post them on sites like istockphoto.com or shutterstock.com. SMB's use these sites all the time for animation, photo and illustration resources. They pay by the piece and you get paid by the download.
Passive/Supplimental income ideas to stave off starvation when biz is slow.
I'd like to gather some ideas about generating passive or supplemental income for when new clients are nowhere to be found. I'm a multimedia designer and I usually have more than enough work to do. There are those times, However, when things slow down and I have to dip into the savings account to pay the bills. I'd like to setup a low maintenance method of generating a small amount of steady income. I'm not talking about getting rich without lifting a finger. It'd just be nice to have something I could keep in a slush fund for when times are hard. Any ideas or examples?
10 Bizniks have posted replies
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Posted by Scott Brinkerhoff, Marysville, Washington | May 09, 2008
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Posted by Nancy Juetten, Bellevue, Washington | May 09, 2008
Affiliate income is one way to enjoy "pennies from heaven" to get you through rough cash flow patches in your business.
If you already happily and proudly endorse products or services provided by specific companies because you genuinely consider their work to be extraordinary, find out if these companies offer an affiliate program.
If so, you can earn affiliate income for orders that flow to their doors when you use your unique affiliate link to endorse them to your clients, colleagues, and other people in your network.
I am sure you can "Google" the term "Affiliate Income" and have an abundance of resources pop up to help you explore what is possible.
Check this out and see if this option delivers the extra income you need. Good luck!
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Posted by Justin Baker, Seattle, Washington | May 09, 2008
i solved this problem for a while by being a live in caregiver for a quadraplegic. i got housing and a 50$ a day salary. it was pretty sweet. for those that have the right stuff to do this kind of work, i highly recommend it. it's rewarding, and if you have an active patient(preferably with a job) that is pretty self sufficient once they are in their chair, you have normal working hours available to do your primary pursuits.
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Posted by Justin Auch, Grand Forks, North Dakota | May 09, 2008
I like the i-stock idea... Prob could throw something together that would generate some downloads. Never had much luck with affiliate sites... you need to invest too much into creating a site and driving traffic to it to make it work.
I tried creating a restaurant menu site a while back. It was a good site and it would have worked if I had had the means to advertise and hire someone to gather the menus for me. It turned out to be a lot of work for one guy.
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Posted by Bob Dunn, Renton, Washington | May 09, 2008
Hi Justin, just a quick note on iStock. I have some photos on there as well, and yes, it's some extra income, but very, very passive. Since their prices are so low (great for the buyer), your percentage is pretty low as well. It will take a heck of a lot of images on that site to make any kind of money. But I'm sure some do. I do know photographers that won't let go of their photos for such a low price, and that's understandable as well. But again, when I need to buy an image, I go there first because of the great prices.
good luck!
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Posted by Justin Auch, Grand Forks, North Dakota | May 09, 2008
yeah... I kind of figured that it'd be low. Istock is my goto place for photos too. Have any of you ever designed for something like TemplateMonster.com? That seems like it'd pay out alright... of course there's a lot more work involved with something like that.
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Posted by Stacy Karacostas, Seattle, Washington | May 13, 2008
Hi Justin, People are hungry for information, and I've been very happy with my forays into the world of info-products. These could be e-books, reports, videos, teleseminars or audios delivered online or by phone.
I bet there are other multi-media designers who could learn from your experiences (whether it's running your business, getting clients, managing projects, or actually doing design work--especially if you're familiar with a niche software product). And I know there are lots of small business owners dead set on doing it themselves who could use practical tips and ideas to help them get started.
All you need to do is have someone interview you (or interview another expert in your field) and you've got an audio product. Have transcripts made and you've about got an e-book.
These days, it's pretty easy to set up a little ecommerce system using PayPal or, even better, 1shoppingcart. You can use your current Website to start, or create a simple blog site to get going.
Then just start marketing your products to your clients, your list, or other designers. Before you know it the trickle will grow to a steady flow.
You can check what I'm done on my site at http://www.success-stream.com/products.htm
Best of luck!
Stacy
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Posted by Justin Auch, Grand Forks, North Dakota | May 13, 2008
Thanks for the advice Stacy. This is an avenue that I have yet to explore. I've thought about creating a blog featuring video tutorials and the like. It seems to me that something like that could blossom into a substantial source of income given enough time.
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Posted by Mark Silver, Portland, Oregon | May 15, 2008
Definitely, a second vote for info-products. We've done over six figures in info-product sales in the last two and half years, and it's currently providing about a third of our revenue.
It definitely takes work to create a quality product, and you have to hit the nail on the head for your customers to really want it. Plus, you want to have a regular list of either blog or ezine readers with whom you have a good connection.
But, if you build those up, you can definitely have some decent income from it, and the people who buy actually end up becoming your best clients- and so your pipeline gets fed, too.
If you have more specific questions about it, please ask.
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Posted by Laura Roeder, Chicago, Illinois | May 28, 2008
I agree that creating a product is the way to go. It's just like anything else - find what people need a create a solution! My product is microsoft word templates for ebooks - http://www.EBookTemplatePro.com
It doesn't bring in a lot of money, but I haven't really promoted it either and a little extra income is always nice.
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- supplemental
- income
- passive
- extra
- cash
- slow
- side jobs
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