I was on Kidgas’ blog today and his final statement on a recent post made me chuckle “Just wish that passive income was less active.”
He’s got a point, but residual income becomes more passive and less active over time. The amount of initial activity usually depends on two things:
- How much money you want to make
- How quickly you want to earn it
If you want to earn a lot in a short period of time, then it takes more focused concentrated activity. However, if you’re not in a rush (which most of us are) and money is not the driving force for online writing (which it usually is), then you can take it easy (which we don’t).
I spend a lot less time writing now than I used to. Actually I spend a lot of time wandering around, looking at other blogs, reading about new tools, looking for new and exciting ways to make money and sometimes playing games. Other times I’m tweaking my sites or blogs. My actual writing time has truly diminished from when I first started.
Back in April 2007
When I first started writing online, I made sure to work the equivalent of a full work day. I had just quit my job and I wanted to replace the income fast. I spent many hours working for Demand Studios popping out $15 articles. I was happy because I was proving to myself that I really didn’t need to go to a traditional job.
You see, when I first quit my job, in my heart I believed I could make a go of the online freelance writing thing, but there is no better confirming factor than actually making the money. Unlike Kidgas, I hadn’t quite realized the beauty of residual income when I first began, so I spent many hours trading my time for money (what I call the cubicle mentality).
The Light Bulb Moment
I’d like to say that I had a light bulb moment when I realized that I could eventually direct my own time if I concentrated on residual income, but I didn’t. It was forced upon me. I’ll be forever grateful to Demand Studios for the forced revelation. Their frustrating editorial feedback and, at the time, slow review times made me realize I had invited a level of frustration into my life that was not welcome and I had to do something about it.
That’s when I started concentrating more on residual income. In 2008, although I still wrote for Demand Studios, I also devoted part of my day to writing articles for residually paying sites. When my residual income reached $1,000 per month (not yet enough to live on), I began to evaluate how I was spending my time. If I could spend that Demand Studio time writing residual articles, I would eventually drop Demand Studios from my freelance writing bag of tricks.
The Demand Studios Weaning Process
Every time I thought I was through writing for Demand Studios, I would write an article or two for them. In February 2009, I tried quitting cold turkey, but in March I wrote 4 more DS articles. Then I quit again in April, but in July, after receiving their standard “We want you back” email, I wrote three more articles for them in July.
Since my last few July articles, they’ve made bio request changes and other changes that I just didn’t feel like complying with so for all intents and purposes, I’m done with them and have been earning 100% residual income since then. I now spend my DS time writing residually earning articles. Doing so has paved the way for me to get closer to $2,000 in monthly residual income (I’m not there yet, but I’m not far from it).
My Freelance Writing Musts
Dropping Demand Studios was like having a weight lifted from my shoulders. It took me a couple of years to get there, but I made it. Now I have two freelance writing musts:
- I must write one insurance article a week for Suite 101 (they very gently reminded me of my obligation as I had fallen behind).
- For my sanity, I must add 2 to 3 weekly blog posts here. My hubby is very thankful that I blog here, or else he would be the one to hear all of my online writing successes and failures. Don’t’ get me wrong, he does humor me and listens intently (Umm hmmm. Really? No kidding? Ummm hmmm), but he isn’t a writer so he’s happy that I share my stuff with you guys.
Back to Kidgas’ statement, he’s right, passive income is very active in the beginning, but after a while it truly becomes passive. You just gotta hang in there long enough.