Thanks for this post! I agree passive income is not totally passive, at least you have to make a big chunk of work in the beginning to launch it.
I've been working online for 24+ years, initially as a freelance translator (Swedish and English into Spanish), 8 years ago I started a YouTube channel in Spanish talking about essential oils, and that started bringing me "on autopilot" people who wanted to purchase them with me (that is, I was offering an intro class as lead magnet, and its email sequence took them to the doTERRA page to sign up).
I quit translations in 2019 when both sources of income were the same (around 5000 euro a month each) since I wanted more time to build the new business. I started offering online courses on essential oils in Spanish, and also some eBooks, and that has been a minor passive income (most sales where coming when I did a campaign, such as Black Friday). In 2020 we got to the six figures a year.
In 2020 I started teaching entrepreneurship online in Spanish (in 2023 I added English to the mix) and I started offering SAAS as an affiliate (the online tools I use). That's giving me some 500-600 euros a month, so it's rather minor but I intend to make it grow.
Currently my income is some 40% doTERRA (currently on autopilot, based off the people that are purchasing monthly on their own); some 50% is selling my different courses and programs (a membership is coming up next week for online entrepreneurs who want to use conscious manifestation, holistic lifestyle and business automations); and the rest is affiliate income of online tools. My big YouTube channel with 78k subscribers pays me currently some 50 euros a month, so I don't believe in Adsense (for some niches at least).
I love having multiple streams of income, perhaps Substack might be one in the future! I posted my first post today.
This resonates a lot. I am now at this point of getting back to my old freelance job - photographer - as I feel the urge to make photo again for clients and because it is more clear way to earn money for me. I have done it for years and got burned out with wedding photography. Gonna be wiser now and won't offer this service. But as I am fascinated by people, I am really looking forward to making photos of them for them.
Step by step I came to a kind of strategy I would love to build my work and art life around. Offering services and keeping donation options open. Combining what I do for money and what I do because it feeds my creativity.
I am rebuilding my website just right now in the moment!
That's a useful lesson as well. One might love the actual work, but not necessarily every type of project or client. It was the same for me with web design: took me few years to start being more selective with my clients and only take on the work I really wanted to do. It made a huge difference to work satisfaction.
Ooooh, exciting with the website! Curious to see it when it's done. 😌
Sooooo thankful you write about this. As an author, artist, podcaster, etc. I wonder so many times, "How do others juggle all this? Are they feeling the same things I am?" It just saps the creativity and delight right out of the marrow of my bones . .I am continuing to take clients on the side (copywriting/marketing) and do the creative writing/podcasting. I feel like my business endeavors are the "patron" that support my creative writing and artistry. I've stopped feeling bad about it "passive income" not being what it's hyped up to be. Instead, I'm just focusing on producing content content content. (PS my client is in Sweden and I'm in California. Funny!) Keep doing what you're doing Louise, it's wonderful.
That's a really useful way of looking at it! A balance of both is healthy, and it can always be adjusted as we go. That's the beauty if being your own boss. 😌
I’m so glad you wrote about this because I’ve been feeling the same lately. I recently stepped away from software engineering to start my creative business and have been trying to build all the passive income streams per others suggestions to no avail. I’ve been really missing the personal connection I get from helping someone 1:1 and I want to pitch and market myself more intentionally and actively. So I’ve been thinking about doing freelance pattern design work but struggling with the voice in my head telling me it’s not a “real” business if I’m trading time for money. Trying to ignore the voice and just concentrate on doing what I want.
So glad to hear that I'm not alone in these thoughts, and with the struggling to make passive income work. 😅
Trading time for money is one of the -most- legit businesses there are! It's really gotten a bad rap lately because of all the passive income, bro marketing bullsh*t. Not every business needs to scale. Not every business person should scale. For many businesses, NOT scaling is a much quicker and easier path to business growth, and personal satisfaction.
So yeah, ignore that voice in your head. Do the freelance pattern design. 🥳
Personally, I'm just getting started trying in to build a freelance editing business as well as a passive income here on Substack. It is hard to do both, but I think it's a strong combination. I do, however, prefer working on my own projects than working on other people's, so the 'passive' side is what gives me a greater sense of autonomy, while freelancing is more of a way to fund that.
I completely agree: doing both is the best option. I was never fully satisfied just as a freelancer, because I was constantly on someone else's beck and call and felt like an order taker without a life and vision of my own.
I like to think of freelancing as the short term game, and the other stuff as the long game. Both are needed, for one's financial and psychological well being. =)
Thanks for this post! I agree passive income is not totally passive, at least you have to make a big chunk of work in the beginning to launch it.
I've been working online for 24+ years, initially as a freelance translator (Swedish and English into Spanish), 8 years ago I started a YouTube channel in Spanish talking about essential oils, and that started bringing me "on autopilot" people who wanted to purchase them with me (that is, I was offering an intro class as lead magnet, and its email sequence took them to the doTERRA page to sign up).
I quit translations in 2019 when both sources of income were the same (around 5000 euro a month each) since I wanted more time to build the new business. I started offering online courses on essential oils in Spanish, and also some eBooks, and that has been a minor passive income (most sales where coming when I did a campaign, such as Black Friday). In 2020 we got to the six figures a year.
In 2020 I started teaching entrepreneurship online in Spanish (in 2023 I added English to the mix) and I started offering SAAS as an affiliate (the online tools I use). That's giving me some 500-600 euros a month, so it's rather minor but I intend to make it grow.
Currently my income is some 40% doTERRA (currently on autopilot, based off the people that are purchasing monthly on their own); some 50% is selling my different courses and programs (a membership is coming up next week for online entrepreneurs who want to use conscious manifestation, holistic lifestyle and business automations); and the rest is affiliate income of online tools. My big YouTube channel with 78k subscribers pays me currently some 50 euros a month, so I don't believe in Adsense (for some niches at least).
I love having multiple streams of income, perhaps Substack might be one in the future! I posted my first post today.
Wow! Thank you for sharing this. Always curious about how other entrepreneurs juggle their many projects and make it work. 😊
Totally agree on the Adsense. It seems to vary so wildly from channel to channel.
Congrats on your first post! 🎉
Thank you Louise, I always really enjoy your articles and the resources you share.
I would have said website design and business consulting but you can only choose one answer, so I write it here too ;)
Thank you! 😊
This resonates a lot. I am now at this point of getting back to my old freelance job - photographer - as I feel the urge to make photo again for clients and because it is more clear way to earn money for me. I have done it for years and got burned out with wedding photography. Gonna be wiser now and won't offer this service. But as I am fascinated by people, I am really looking forward to making photos of them for them.
Step by step I came to a kind of strategy I would love to build my work and art life around. Offering services and keeping donation options open. Combining what I do for money and what I do because it feeds my creativity.
I am rebuilding my website just right now in the moment!
That's a useful lesson as well. One might love the actual work, but not necessarily every type of project or client. It was the same for me with web design: took me few years to start being more selective with my clients and only take on the work I really wanted to do. It made a huge difference to work satisfaction.
Ooooh, exciting with the website! Curious to see it when it's done. 😌
Sooooo thankful you write about this. As an author, artist, podcaster, etc. I wonder so many times, "How do others juggle all this? Are they feeling the same things I am?" It just saps the creativity and delight right out of the marrow of my bones . .I am continuing to take clients on the side (copywriting/marketing) and do the creative writing/podcasting. I feel like my business endeavors are the "patron" that support my creative writing and artistry. I've stopped feeling bad about it "passive income" not being what it's hyped up to be. Instead, I'm just focusing on producing content content content. (PS my client is in Sweden and I'm in California. Funny!) Keep doing what you're doing Louise, it's wonderful.
That's a really useful way of looking at it! A balance of both is healthy, and it can always be adjusted as we go. That's the beauty if being your own boss. 😌
I’m so glad you wrote about this because I’ve been feeling the same lately. I recently stepped away from software engineering to start my creative business and have been trying to build all the passive income streams per others suggestions to no avail. I’ve been really missing the personal connection I get from helping someone 1:1 and I want to pitch and market myself more intentionally and actively. So I’ve been thinking about doing freelance pattern design work but struggling with the voice in my head telling me it’s not a “real” business if I’m trading time for money. Trying to ignore the voice and just concentrate on doing what I want.
So glad to hear that I'm not alone in these thoughts, and with the struggling to make passive income work. 😅
Trading time for money is one of the -most- legit businesses there are! It's really gotten a bad rap lately because of all the passive income, bro marketing bullsh*t. Not every business needs to scale. Not every business person should scale. For many businesses, NOT scaling is a much quicker and easier path to business growth, and personal satisfaction.
So yeah, ignore that voice in your head. Do the freelance pattern design. 🥳
Personally, I'm just getting started trying in to build a freelance editing business as well as a passive income here on Substack. It is hard to do both, but I think it's a strong combination. I do, however, prefer working on my own projects than working on other people's, so the 'passive' side is what gives me a greater sense of autonomy, while freelancing is more of a way to fund that.
I completely agree: doing both is the best option. I was never fully satisfied just as a freelancer, because I was constantly on someone else's beck and call and felt like an order taker without a life and vision of my own.
I like to think of freelancing as the short term game, and the other stuff as the long game. Both are needed, for one's financial and psychological well being. =)