7 Leveraged Passive Income Streams for Writers

How to Earn Money While You Sleep

Photo by Austin Distel on Unsplash

There are many benefits to being a freelance writer.

You can set your own hours, work from home, and choose the projects you want to work on. But one of the best things about freelance writing is the ability to create passive income streams. Passive income is income that you earn without having to actively work for it.

Without further ado…let you and I discuss seven different ways that you can create passive income streams with online writing!

1. Sell Digital Products Such as e-Books, Online Courses, or Templates

As a writer, you have a lot to offer the world.

You can communicate complex ideas clearly and effectively and connect with people on a deep level. Unfortunately, these days it can be difficult to make a living as a writer.

Traditional publishing models are increasingly difficult to break into, and even when you land a book deal or article assignment, the pay is often low.

But there is good news: there are new ways to monetize your writing that can help you earn a significant passive income.

One such way is to sell digital products, such as e-books, online courses, or templates.

By creating products that offer value and providing them at a reasonable price point, you can earn money while you sleep — literally! So if you’re looking for ways to make your writing pay off, consider developing a passive income stream by selling digital products.

It could be the best decision you ever make.

2. Write for Other People’s Blogs or Businesses as a Freelance Writer

If you’re a writer, there’s a good chance you’re always looking for new ways to earn money from your craft. After all, writing is a notoriously tough profession and making a sustainable income can be a challenge.

One way to do this is to create what’s known as a “leveraged passive income stream.” This simply means finding ways to earn money from your writing without having to put in constant effort.

For example, you could write articles for other people’s blogs or businesses as a freelance writer. This way, you can get paid for your work once, and then continue to earn passively as long as the article is live.

Not only is this a great way to make some extra money, but it can also help you build up your portfolio and showcase your skills to potential clients. So if you’re looking for ways to earn money while you sleep, consider creating a leveraged passive income stream by writing for other people’s blogs or businesses.

It’s a great way to make some extra money without having to put in too much effort.

3. Create and Sell Audio Recordings of Your Writing

Audio books are a booming industry, and there’s no need to be a celebrity narrator to get in on the action. If you have written a book, short story, or even just a long article, you can create an audio recording and start earning money while you sleep!

The process is simple: just record yourself reading your work, edit the recording as needed, and then upload it to a platform like Audible or iTunes.

Once your work is live, it will start earning revenue based on the number of downloads. And best of all, this is a completely passive income stream — once your work is live, you can continue to earn money from it indefinitely.

So if you’re looking for a way to generate some extra income with minimal effort, creating an audiobook is a great option.

4. Self-publish Your Work in Paperback or Electronic Format

Self-publishing has become a popular option for writers in recent years, and for good reason.

With self-publishing, you have complete control over your work, from the editing process to the cover design. Plus, you can choose to publish in either paperback or electronic format (or both). Best of all, self-publishing gives you the potential to earn a passive income stream. That means you can earn money even while you sleep!

There are a few different options for self-publishing your work. You can use a traditional self-publishing service like Amazon Kindle Direct Publishing or CreateSpace. Or, if you want to have more control over the process (and potentially earn a higher royalty rate), you can publish your work through a platform like Smashwords or Draft2Digital.

Either way, self-publishing is a great way to get your work out there and start earning money!

5. Publish Articles on Sites Like Medium, Substack, or Vocal to Get Paid by the View

As a writer, it’s always great to get paid for your work. But what if you could get paid even when you’re not writing? That’s the beauty of a leveraged passive income stream.

By publishing articles on sites like Medium, Substack, or Vocal, you can get paid based on the number of views your article receives. That means you can earn money while you sleep! Plus, it’s a great way to build an audience for your work and reach new readers.

So if you’re looking for a way to make some extra money, consider publishing articles on one of these sites.

It’s a great way to get paid for your writing while building your audience at the same time!

6. Start a Patreon Account and Ask Your Fans to Pledge Monthly Donations

Patreon is a membership platform that provides business tools for creators to run a subscription content service. It allows artists to receive funding directly from their fans, or “patrons”, on a monthly or per-creation basis.

Patreon is an ideal way for writers to build a passive income stream.

Once you have built up a large enough following, you can ask your fans to pledge monthly donations in exchange for access to your content. This can be anything from exclusive blog posts and behind-the-scenes looks at your writing process to audio recordings of your work and advance copies of your latest books.

Not only does this provide you with a steadier stream of income, but it also allows you to build closer relationships with your fans and get direct feedback on your work.

Patreon makes it easy to set up and manage your account, and there are no fees charged to either creators or patrons. If you’re looking for a way to monetize your writing, Patreon is definitely worth exploring.

7. Start a Blog or Podcast

Let’s face it, most writers don’t earn a lot of money. In fact, the low earnings potential discourages many people who want to become writers. But there is a way to make money as a writer without relying on traditional sources of income.

By starting a blog or podcast, you can create what’s known as a leveraged passive income stream.

This means that you make money without having to work for it. Instead of trading your time for money, you’re making money while you sleep. And the best part is, once you’ve set up your blog or podcast, it doesn’t take much effort to maintain it.

So if you’re looking for a way to make some extra income, consider starting a blog or podcast today. It could be the best decision you ever make.

Conclusion:

There are several ways to make money as a writer, but not all of them are created equal.

If you want to earn a passive income, self-publishing is a great option. You can also make money by publishing articles on sites like Medium or Substack, or by starting a blog or podcast.

Whichever method you choose, make sure you put in the effort upfront to ensure a steady stream of income. With a little hard work, you can start earning money in a fairly short time.

If you want to get my posts directly in your inbox, subscribe below:

Get an email whenever Hein publishes.

Become a Medium member for unlimited access to the platform. It’s only $5 per month, and it helps writers significantly, and you can also make money with your writing. Sign up below…

Join Medium with my referral link - Hein V

Let’s connect on social media!

Professional Writer | Twitter, Instagram, Facebook | Linktree