Passive Income For Interior Designers: Digital Downloads (Part 1)
/Do you have any tasks that you feel like you’re doing over and over and that you’d like to streamline? Well this task could create a great opportunity for passive income which would create another stream of income for your business.
With passive income, you do work upfront (in this case, it may even be work you are already doing), and earn over time with minimal maintenance. This can provide you with greater financial stability and freedom, as well as the potential to increase your overall income and build wealth over time. A great option for designers to create passive income is through digital downloads. There are many different types of digital downloads you can create easily once and then sell for years.
Here are some ideas for digital downloads:
How-To Guides & Templates
Maybe you feel like you’re constantly getting asked the same questions about paint colors, accent walls, or art ideas. Moreover, this is a topic that you could explain in your sleep. A great option to convert this into passive income would be to create a how-to guide or template for clients to download from your website – a win win for you and the buyer as they get your professional design expertise and you get paid for it without doing repetitive work. Another great benefit of guides like these is that you can create more than one!
A simple way to get started with this is to write down common client questions that you feel you’re answering repeatedly or are getting asked on social media. If you have a niche that you are known for you could create a “Getting Start Guide” for clients who are curious about working with you. An even simpler version would be to produce a template with images and graphics on your topic, like how to create the perfect accent wall for example. Selling guides and templates with simple graphics that showcase your expertise is a perfect way to get started with digital downloads.
eBooks
eBooks are another great way to make passive income with your design expertise for clients who like more DIY type projects. An in depth book that could help customers with a bathroom refresh, picking paint colors, decorating for a rental, or how to Feng Shui their space are examples of successful ebooks on the market. Similar to a how-to guide, they get a lot of expert design knowledge and you don't have to do anything but the initial set up.
Where to Sell Digital Downloads
With strong marketing your digital downloads could bring in quite a bit of revenue. There are many places you can post your downloads to be purchased, the first one being your own website. As clients are already browsing your services, having a shop on your site with digital downloads that answer their design questions could be a quick way for you to make some passive income. You could also create an Etsy or Shopify account to sell your products. That way whenever you receive a DM asking a simple design question, you can let the inquirer know that you have created an entire guide that answers all of their questions.
Passive income can take some effort and investment to set up initially, but once you have established your sources of passive income, they can continue to generate income for you over the long term with minimal ongoing effort required.
Let us know if we can help! We’ve got VDA’s on the team that love helping designers create passive income streams. More in this series to come!
xx, Danae