Young Architect Guide: 6 Proven Ways Architects Can Earn a Passive Income

Instead of trading hours for money — which is typical for the architecture business, like any other service business — a passive revenue stream is not directly linked to the number of hours you put into it. For example, take an ebook that’s doing well and has steadily sold many, many copies: once the e-book is online and ready for sale it stays there as a permanent revenue generator. Instead of being paid for a project once your contractual obligations are done, such an income stream — once established — generates money in the background on autopilot. You get more freedom as you become less financially dependent on the service business: freedom to do what you like (like spending more time with friends and family) or to chose what to work on (interesting architecture projects, scaling your passive income streams, charity projects, generating new income streams and so on). It should be noted that building a passive income stream is not easy, requiring significant upfront effort, dedication and passion, and even when it’s established it still requires effort to maintain and scale. So if you’re looking for an easy way to get rich overnight, this is not the way. However, ... , Peter Eerlings (ArchiSnapper), read more Architizer http://ift.tt/2dUT1Za