How Freelancers Can Create a Passive Income Portfolio
Do you know that freelancing in Africa is very lucrative and rewarding? Asides from the monetary benefits from freelancing, African Freelancers enjoy many other benefits. One such benefit is flexible schedules.
Of course, freelancing is not without its challenges. For example, a freelancer can get swarmed with work and may not deliver as and when due. This, when having a passive income portfolio, comes in handy.
Tips to help you create a passive income portfolio
There is a point you get to that all you want is passive income. Do you know that feeling of money coming in without you stressing? That’s exactly what we want to teach you here. Check out these tips to help you create a passive income portfolio.
Outsource your projects
We decided to begin with one of the oldest tricks in the book of freelancers. The first step to developing a passive income portfolio is first to get some time off active freelancing. How can you possibly get some time off with a load of work on your desk?
It’s simple, start outsourcing those projects. Find efficient freelancers in the same niche to take up your tasks. You can find such talent on Upwork, Guru, Fiverr, etc. Another way to do this is to advertise the opening on freelance communities like African Freelancers.
Asides from helping you grow your passive income portfolio, outsourcing helps to grow your freelancing business. Isn’t this why we all love freelancing in the first place?
Choose a niche that matches your skills.
Many freelancers in Africa make the mistake of trying to do everything with specializing. You must have heard the saying, “a Jack of all trades and master of none.” As much as many people argue with this statement, it is true in this case.
The first question to ask yourself is, “what skills do you possess that are marketable?” Writing, graphic design, app, website design, social media marketing, digital marketing, etc., are all marketable skills. The earlier you find your skills, the better for you.
After this, you need to answer the question, “to which niche do my skills belong?” Finding your niche leads you to find the exact target audience that you need. It also ensures that you find the right freelancers to outsource your gigs too.
While you may begin as an all-rounder, you must define which niche you belong to as you grow. This will help you to attain a level of credibility and authority in that niche. The more authority you have, the easier it is to create passive income.
Grow your online audience
It is amazing how much African Freelancers can achieve in the digital space these days. Do you know that by 2025, at least 475 million Africans will have access to mobile internet? This means that one of the fastest ways to publicizing your business is by growing an audience online.
There are several ways to achieve this. The most popular methods include social media, email marketing, and blogs. Here’s the good news, you can make use of all three depending on your business objectives and target audience.
Whichever method or combination of methods you choose, there is an underlying factor. You must have a workable plan. It is almost impossible to grow followership online without a clear-cut plan.
For example, if you are running a blog, you must decide on the best times to post. Find the best keywords and decide if you will mix SEO with SEM or not. A good plan will yield great results, and soon, you’d achieve your aim of a passive income portfolio.
Become an affiliate
This is one of the easiest ways to create passive income. You don’t have to put in too much effort, especially if you already have a huge following online. The idea is the use your influence to promote the products of other brands to make money.
Some of the biggest affiliate platforms in the world include Amazon, CJ, and Clickbank. Doing this allows you to earn a percentage on each sale or a flat commission.
Some freelancers in Africa prefer to focus their efforts on promoting products with recurring commissions. This is particularly a great idea if your main aim is to generate passive income. Examples of such platforms include accounting apps, email marketing platforms, and different membership websites.
Create your products and sell them in digital marketplaces
This idea works wonders for all classes of African Freelancers. If you are a writer, you can sell articles, stories, or poems to different companies online. Graphic designers can create beautiful graphic designs and sell them, as well. This helps you to generate passive income.
There is almost nothing that you can’t sell online. All you need to do is find the best marketplace for your class of products. After this, go through the necessary registration and verification processes, then you can begin selling.
Create an online course to teach your skills
Freelancing in Africa is moving at a swift pace. Now, you don’t have to bid for jobs to create a source of income; there are several ways to earn passive income. One such method is creating an online course to impart knowledge.
Many Africans are already open to the idea of learning online, so it should be easy for them to accept. The good thing about this idea is that you don’t need to be present to teach. Shoot a video of you teaching the course with the appropriate materials.
Next, sign up on tutorial sites in your niche, upload the video to YouTube or place it on your website. Asides from building your passive income portfolio, it helps you to add value to others, especially young ones.
Wrapping up
By now, you must be buzzing about the idea of creating a passive income portfolio. This is great, and we have shared a few strategies to help African Freelancers achieve this aim. What other strategies do you know? Could you share with us in the comments section?
