Passive Income Road Trip #6: Royalties

Wow, I don’t remember Yuma, Arizona, being so hot. As I pulled into this magical city, my thermostat read 106 degrees. Yikes.

Yuma is one of my favorite places on Earth and the first place I truly felt at home in my life. My wife and I bought our first home here in 2008 and still own it. I got to stop by and see it for the first time in five years.

As I reminisced about past times, I also thought about my books that were out making me money. Separating your creative works from your physical being is the art of earning royalties.

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Welcome back to the Passive Income Road Trip series (Financial Mindset, Retirement Planning, Dividends, Cryptocurrencies, Real Estate), where we always make our time count.

The magic of royalties. Most people will never earn royalties because it takes you putting yourself out there. You must release your creative works into the world—letting others scrutinize and mimic them.

One of the most extraordinary limiting beliefs is the fear of public speaking. Royalties tap into this same fear of rejection and humiliation, keeping most from even attempting to show their work.

However, if you can overcome this limiting belief, you’ll understand that no one cares about your creativity. Everyone is too busy even to dismiss your artwork.

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Once you put your work out there and realize the world didn’t sift from its gravitational pull, it’s easier to continue to build your body of work.

The magic of royalties is that your works are supposed to suck first. You can then go back and look at these works, which hold value even better than your newer ones.

It sucks to suck. Indeed, creating is the only way to get better at being creative. Our human brains long to create, but the education system tells us early on that we must build towards getting a job.

They remove all of our creative energy by funneling us through dry educational materials, one-way classrooms, and boring teaching methods. 

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When we arrive in the real world as 18 to 22-year-olds, all we know is to look for a job. But, there has never been a better time to be a creative person. Let’s explore how to get started with innovative projects and start building royalties. 

The six types of royalties. I like to divide creative royalties into six classes, although you could add intellectual property and software to the list.

1. Passive Income from Music. You can earn money by writing and performing music. You can also teach others to play via YouTube. There are unlimited ways to make income centered around music.
2. Passive Income from Photography. Other creatives and entrepreneurs need stock photos for all types of advertising and commercial use. You can supply these pictures via stock photo sites or start your own.
3. Passive Income from Art & Design. I download artwork for creating books and articles. You can also sell your art to tattoo and design studios. With NFTs on the rise, there is a better time to be an artist. 
4. Passive Income from Video. YouTube is the big one here, as well as creating quality online courses. I wouldn’t go the TikTok route as my primary method. The big dollars will remain with long-form content.
5. Passive Income from Audio & Speech. Do you want to start a podcast? You can talk about anything in the world and build an audience—the key is consistency. You’ll probably need 100 episodes before anyone takes you seriously. 
6. Passive Income from Writing. My personal favorite (you should know this) is writing. Once you write something, you can monetize it in various ways, such as video, books, podcasts, or movies. 

Getting started with creative royalties. I started writing because in the book “Rich Dad’s Guide to Investing,” Robert Kiyosaki said you could create an asset from your brain. Doing this puts your investment in an infinite return immediately. 

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Being able to create assets from thin-air has always stuck with me. I can wake up and create whatever I want, and it has a chance to sell.

However, I went through a period where all my writing sucked. I wrote 100 articles before even starting to have a voice of my own. These original works are worth their weight in gold today. I have written roughly 980 articles with no intention of stopping.

The best way to become creative is to create every single day. You’ll need to create (no excuses) to grow into your desired producer. 

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How to create every single day. I am a fan of the expansion method. I wrote about this technique in “How to Create a Never-Ending Stream of Content 2.”

You take your basic idea or premise (mine is passive income) and divide it into five or six smaller supporting groups. My six groups are financial mindset, retirement planning, dividends, cryptocurrencies, rents, and business.

From there, you create inside each of your categories. The magic happens when you mix and match your types to create wholly original content.

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A good example is my “From Dirt to Dividends” series. Here I mixed sustainable farm living with income investing. 

A quick example. If I wanted to become a fantasy artist, I would use fantasy as my main topic. I would split my sub-niches into elves, dragons, mages, rouges, princesses, and knights. 

I would then draw each of these characters every day. I can read books or materials in each sub-category to become a better artist.

Finally, I can mix and match ”mages & dragons” to create unique art that people couldn’t find anywhere else.

Creation begets creation. By forcing yourself to create every day, your brain will become a productivity workhorse. You will see ideas and concepts everywhere you turn. 

I have over 30 pages of notes for articles and books I need to write. If you try to create one thing a week, your brain will react slowly. Daily creation is the best way to become the creative you envision.

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I recommend these books for those seeking creative pursuits: “The Practice” and “Manage Your Day-to-Day.”

Conclusion. One of my pet peeves is hearing parents telling their children to go to college and get a job. Yes, most people will need to do these things; however, this is not the whole story.

Our kids can still be creative in their off time. They can play video games on YouTube or write blogs about woodworking. When we don’t produce, we become unhappy.

We all need to respect the magic of our creative brain and work hard to add value to the world via creativity. We can genuinely explore our happiness and freedom when we find ourselves through our art. For more on Royalties, please read “Retire Rich, Retire Comfortable with a Business 2 (pdf).”

I wish more parents would learn that automation cannot replace creativity. This means that artificial intelligence, machine learning, and the metaverse cannot replace a human’s creative brain.

Therefore, becoming creative is one of the safest routes a young person can take today. I became creative two years ago, and the journey has been more fulfilling than I dreamed. You can do the same with effort and daily production. Good Luck!

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