If you are looking for a way to make extra money, you might want to consider writing a book. When you write a book, you open yourself up to the opportunity to make passive income. While the up-front work of writing a book isn’t easy, it does offer plenty of passive income ideas for busy folks.
In today’s world, you do not have to be a Pulitzer-Prize winning author to sell books. Thanks to websites such as PaperHelp, Self-publishing has become a go-to method for anyone looking to share their ideas and make money while doing it. Once you’ve written your book and offered it for sale online, you can look for other ways to leverage money out of your ideas.
1. Turn your book into podcasts.
People love to listen to podcasts. If your book has ideas that can be built upon, then you might consider creating a regular podcast. You can sell subscriptions and you can sell your book through the podcasts. Make sure that your topics are both timely and evergreen so people can listen to them and get something out of them at any time.
2. Start a YouTube channel based on your book.
If you can create podcasts, you can create YouTube videos. These can be lucrative if you are able to build a substantial audience. The videos should expand upon ideas in your book so that people will come back for more. With clever topics, your videos could turn you into an influencer as you share your expertise with your audience. Always be sure to plug your book so you can continue to put it in people’s hands.
3. Create an online course based on your book.
Online learning continues to grow and people are looking for interesting courses to take. If your book has topics that can be taught, you can develop a course that could also bring in passive income. You don’t actually teach the course, but you sell the material through educational platforms. Your course could include podcasts and videos, as well as assignments out of your book.
4. Become a paid speaker.
Some authors love to speak in public. After your name becomes better known, you might begin to speak at local events. If you enjoy it, you can broaden your market and move through your state. Authors are always in demand at speaking events. Maybe you find your way into a local TED-Talk style event.
5. Coach other writers.
Writers are always looking to learn from other writers. Once you have published your book, writers with similar goals will come looking for you so they can learn from your experience. You can host writing events at local bookstores or libraries. You might find that teachers want to you to visit their classrooms to talk to their students about becoming an author. You can also offer paid write-ins or coaching events where people learn the craft from you. Start small so you can build an audience, then as you grow, increase your prices. You can even develop package deals that include an autographed copy of your book.