You've probably heard the phrase, make money in your sleep.…Doesn't it sound wonderful?…The idea behind it is that you can have an income even when you're not actively working.…As a freelancer there are a few ways you can develop such so-called passive income.…All require an initial investment of time followed by slow earnings.…However, those earnings can go on for years ultimately adding up to more than…you would have made by selling those initial hours to a client.…The first type of income is one I know and love well. Royalties.…
These are most common among book authors although actors and some other kinds of…creative artists also have forms of royalty income.…Here is how they work.…The author agrees to write a book in exchange for royalties rather than a set…payment of say, $10,000.…Let's say the author earns $2.00 per book sold.…The publisher usually provides an advance payment against those royalties,…let's' say it's $4,000.…Then the book starts selling.…The author earns nothing for the first 2 ,000 copy sold, because those royalties…
Author
Updated
3/20/2013Released
1/30/2013A bonus chapter covers common questions freelancers have when entering the field.
- What is freelancing?
- Defining your career goals
- Funding your startup
- Getting licenses, permits, and insurance
- Setting prices
- Finding work through agencies
- Getting referrals
- Working with time and project management tools
- Increasing your rates
Skill Level Beginner
Duration
Views
Q: This course was updated on 3/20/2013. What changed?
A: We added a bonus chapter that covers common questions freelancers have when entering the field, such as "How do I use Craigslist or other job boards to grow my freelance business?" and "How do I find clients?"
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Introduction
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Welcome1m 49s
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What is freelancing?2m 53s
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Preparing your mindset3m 31s
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1. Making Plans
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Defining career goals2m 48s
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Sharpening your market focus3m 18s
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Transitioning to freelancing3m 18s
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2. Marshaling Resources
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Preparing your portfolio3m 11s
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Estimating costs3m 10s
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Funding your startup2m 42s
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Establishing your workspace3m 35s
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3. Satisfying Requirements
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Creating contracts4m 23s
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4. Handling Money
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Setting prices3m 13s
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Establishing payment systems1m 36s
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Invoicing and getting paid3m 50s
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Keeping the books2m 32s
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Managing taxes1m 43s
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5. Getting Clients
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Announcing your availability3m 16s
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Onboarding clients2m 59s
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Avoiding scams3m 25s
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Choosing assignments2m 59s
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6. Doing the Work
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Interacting with clients2m 11s
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Delivering quality work2m 28s
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Losing and firing clients4m 14s
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7. Managing Time
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Deconstructing big jobs3m 34s
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Creating schedules2m 30s
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8. Keeping the Business Healthy
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Staying motivated3m 3s
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Increasing your rates2m 52s
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Building passive income3m 48s
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Changing focus3m 57s
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Conclusion
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Next steps2m 5s
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10. Bonus Chapter: Q&A on Freelancing
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Freelancing Q&A12m 42s
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Video: Building passive income