Are you looking for ways to supplement your income as a teacher? I shared with you possible ways to start a side business while still working as a teacher but I wanted to go a little deeper with the idea of passive income; especially how to earn passive income as an edupreneur.
Passive income is money you earn that requires little to no daily effort to maintain. This type of income takes some work to get up and running, but it could eventually earn you money while you sleep.
I don’t want you to think being an edupreneur takes little to no effort. As a matter of fact, it’s a lot of work. However, I do want to share the benefits of passive income.
Why is it a Good Idea?
You may think your greatest wealth building tool is talking to the representative from Edward Jones during your lunch break. That’s because most people have been conditioned to think the only way to earn income requires the active participation in a full-time job and participating in teacher retirement.
Even if you love what you do, I’m sure you wouldn’t scoff at a little extra dough each month. Especially, if it didn’t require a huge time commitment of working another job away from your family.
Don’t take my word for it. Dave Ramsey talks about building passive income. He shares that passive income:
- Increases your wealth-building plan
- Creates an opportunity to retire early
- Protects you from a complete loss of income if you lose your job
- Provides an additional source of income when you’re no longer able to work or if you outlive your retirement fund
The reasons above are just some of the reasons I decided to create my own digital products. As you may know, one of the ways I earn passive income as an edupreneur is by creating digital products.
One of my best sellers is my Aesop Fables Unit. While I didn’t calculate how long it took me to make the product, let’s just say it took me four hours everyday for a 5 days. So 20 hours of work, seven years ago, continues to make money years later (although I do spend time periodically updating).
Another reason I love earning passive income as an edupreneur is the impact it makes in the lives of other teachers and students.
How to Earn Passive Income
I wrote about a few ways to earn passive income, but I’d like to share specifically how to earn passive income as an edupreneur:
- YouTube Channel
- Digital Products
- Book Writing
- And more…
If you are working a second job, tired, and burned out, I hope this post helps you see the potential earning passive income as an edupreneur can bring to your life.
I’d love to help you get started on your journey. One way I can help is to share my branding freebies. Thinking through your brand is an important first step in starting your business.