Freelance writing works a couple of different ways. Being hired to write and receiving instant payment is probably the most obvious form of work. But there is another way. It involves getting paid later and is known as "passive" or "residual" income.
I want my money now please. So far, this is my preferred way of writing. I earn a per post wage for different websites and receive payment monthly. I write requested "how-to" articles for a website that pays between $5 and $15 per article. They pay me once a week. I also earn a per post amount for including assigned links in my personal blogs. They pay once a week, as well. Then I also have clients who pay me per assignment whenever the assignment is completed. I compare this to my days of waitressing and always having money in my pocket from tips. I love it and it works well for me.
The check's in the mail. Earning passive income takes patience and that's probably why I am not hooked on it yet. No patience. You write content, usually of your own choice of topic, and receive no guaranteed payment for it. Instead, you earn an amount based on how many readers (page views) you attract. My most popular article, How to Treat Acne in Children has received 1,765 page views since July and has earned $1.73. I wrote it as a fun experiment with my daughter and have never, until now, linked to it or marketed it in any way except to tell friends and family.
Why bother with passive income if the return is so low? Although instant return is low, the potential income has no limit. My three articles combined make between 9 and 50 cents per month. But I wonder, what if over these same past 9 months I would have written more articles... just one per week even... how much of an impact would that have? Then, what if I actually marketed the articles by mentioning them in my blog posts or simply Twittered them? On top of that I could have built a bigger group of friends in the network who would help build my traffic. Soon my cents per month would be dollars per month. And it keeps coming. You write it once and get paid on it forever. It could potentially surpass the $15 up front fee received upfront in the guaranteed payment model.
Wow! So why wouldn't I focus solely on passive income writing? Simply, you have to wait for it. How many $15 articles could you have written and been paid on in the amount of time it takes to build a portfolio of residual income articles?
Okay, now I'm confused. Which is better? It's up to you. In either case it's important to research the company or website you are writing for. Most of the companies that pay up front require that you give up all rights to your work, which is fine by me. It is not generally a topic that is near and dear to my heart, anyway. The one I use the most does give me a byline so I get credit for it which is fun. The passive income sources usually have less rules, but you are responsible for marketing your own work. And if the article falls flat and doesn't get much attention the whole risk falls on you. It could take years to be compensated for the time you put into writing it.
I suggest trying at least a few residual income articles that you can monitor, like I do, and make up your own mind what works best for you.
