A few weeks back I played a board game, Cash Flow, created by the author of ‘Rich Dad, Poor Dad’, Robert Kiyosaki. To me the game is a warped version of Monopoly. The concept of the game is that we are living in world filled with expenses, budgeted and unexpected. The ‘Rat Race’. And the only way to get out is to have a passive income that is more than your current expenditure. Then and only then can you chase your dreams.
After playing the game I was desirous of applying some of these principles to my life. But the thought of making a passive income from designing website templates did not seem feasible. Until I saw this:
“Since joining ThemeForest I'm making enough passive income a month to cover my mortgage and its afforded me to buy a new BMW M3”
I know the guy probably lives in Europe where its cheaper to by a BMW than it is to buy one in Jamaica (W.I.). However, it’s clear that this is Contempoinc’s experience.
To Sell or Not to SellI pride myself on being able to understand what a client wants and designing a website that fits like a glove. Which means that it’s not very often that I get a file rejected that I can slice up, package and put on a shelf for resale.
But I fought tirelessly with the thought of selling my templates on someone else’s network. Why not create my own? I can make more money that way than have someone dictate the price of my work?
True! But there are some advantages to consider. While it may seem better to do my own thing if I were to sell in a marketplace (like Envato’s) I’d get a lot of opportunities. I would:
- Gain the ‘right of passage’ to an existing client database
- Have the support of a reputable company behind my product
- Showcase all my products
- Attract a following
- Be able to network with potential clients and associates
The key that unlocks the flow of Passive IncomeWhat is the science behind designing websites as a passive income and being successful? Well the answer is hard work, dedication, volume and customer service.
Hard work and dedication go hand in hand, there is no separating the two. A designer/developer has to be committed to honing his skill in order to produce work of the highest standard. The challenge is never to out do another designer, it’s to out do yourself - your last project. John Maxwell puts it this way “If what you did yesterday still looks big to you, you haven’t done much today.”
Finding a rhythm and a effective workflow makes it possible to increase your product line. The more items you have, the larger your volume of work and the greater the possibility of making a sale grows.
Sales can also be affected by your design. Many may think designing a website similar to the top sellers is the key but it’s often those who are thinking outside the box, fusing tradition with creativity, that make an impact, winning the hearts of buyers.
Though making a passive income in the traditional sense doesn’t include servicing clients, selling templates does. You can provide all the documentation in the world but the use of your template will vary with each customer. Providing support is critical because happy clients return or recommend you to their associates.
The Short of ItWhat the heck am I trying to say? It’s possible to get passive income by designing a few web templates for resale but it requires commitment. And the best place to start is in one of Envato's Marketplaces like ThemeForest.
Just remember what they say in the technology world, if you put garbage in, you’ll get garbage out.