Join Tom Geller for an in-depth discussion in this video Building passive income, part of Freelancing Fundamentals.
- View Offline
- Exercise Files
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…
A 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
1. Making Plans
2. Marshaling Resources
3. Satisfying Requirements
Creating contracts4m 23s
4. Handling Money
5. Getting Clients
6. Doing the Work
7. Managing Time
8. Keeping the Business Healthy
Next steps2m 5s
10. Bonus Chapter: Q&A on Freelancing
Freelancing Q&A12m 42s
- Mark as unwatched
- Mark all as unwatched
Are you sure you want to mark all the videos in this course as unwatched?
This will not affect your course history, your reports, or your certificates of completion for this course.Cancel
Take notes with your new membership!
Type in the entry box, then click Enter to save your note.
1:30Press on any video thumbnail to jump immediately to the timecode shown.
Notes are saved with you account but can also be exported as plain text, MS Word, PDF, Google Doc, or Evernote.