Episode 77: Earning Passive Income
This week we discuss the realities of earning passive income from your art and digital products. We take a look at how passive income often isn’t all that passive and the gritty realities of what it really takes to be successful. Without further ado, let’s get into the show!
Show Notes for This Episode:
[1:00] Passive income is nothing but passive.
[2:00] What exactly is passive income?
[3:00] Misconceptions with passive income.
[4:00] Breaking even with a product.
[5:00] Taking a risk upfront on a product.
[6:00] Passive income streams reducing freelance stressors.
[7:00] Dustin and Tom share how they were wowed by passive income.
[8:00] Tom shares when he knew he had to leave regular employment.
[9:30] Earning a living while you sleep is no fantasy.
[10:00] Calculating a products breakeven point.
[12:00] Everyone experiences the woes of operating costs.
[13:40] Why building passive income takes time.
[16:00] If you feel this way then passive income isn’t for you.
[17:50] Do designers really need 7 income streams?
[24:00] Broadening your market reach.
[26:00] Strategically product releases.
[28:00] Gauging a niche, market appeal and trends.
[29:00] Crafting a products for enjoyment rather than money .
[30:00] Dustin talks about products that fly your freak flag.
[36:00] Riding the passive income roller coaster.
[38:30] Battling anxiety and trusting yourself .
[41:00] Finding joy in the journey.
[41:50] Ian shares what he loves and loathes about passive income products.
[43:00] Dustin explains why he loves what he does.
[45:30] Lisa discusses struggling with work/life balance when you love your work .
[47:00] Tom describes his experiences with passive income.
[50:28] Starting your business money and stress.
[52:10] Passive income and finding happiness.
[53:00] Your business is a lot like taking care of a baby.
[54:00] Being realistic about your success.
“A must for every creative freelancer (or those aspiring to freelance). Thank you for being so… honest! Such a wealth of information from people I admire who have ‘been there and done that’. Listening to the podcast every week feels like I’m among friends. Can’t wait for more episodes!” – AG_GD
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