Create Royalties While Working a Full-Time Job

Don’t you hate waiting for an annual pay raise for a promotion? That’s what happens when you depend on someone else for income.

But I am a realist; most people cannot leave the workforce to pursue a start-up business full-time. We all have responsibilities such as a family, living expenses, or medical needs. 

However, we can add an element of additional income to our full-time employment paychecks. If we add royalties to our regular jobs, we get extra income while leveraging the power of compounding.

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What are royalties? Royalties are payments you receive from selling your unique creative works. I like to separate royalties from other items like printable t-shirts, digital documents, and low-content books (which I consider automated business). 

Royalties can come from many sources, such as podcasts, videos, books, music tracks, photos, and artwork. You can decide what works best for you.

You can also receive royalties from selling software or license from your protected intellectual property. The sky’s the limit when it comes to royalties and royalty income.

Creating royalties from your work. Now for the hard part—creating passive income from royalties. The only way to earn passive income is to generate a lot of content.

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Consumers today expect you to create massive amounts of content. You may create for 3-5 years before anyone notices you; then, you become an “overnight sensation.”

The good part is it takes 10,000 hours to become a master of your craft. So, you can put those hours in when no one is watching. By the time the public notices you, you will be an extraordinary talent.

Royalties plus working full-time. But how are you supposed to create when you work full-time? You must utilize your time to perfection.

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First, get your family onboard. You must deeply understand how building an audience works when you speak to your family. 

You cannot create royalty income without an audience. Therefore, releasing content slowly helps you add followers and create raving fans. 

Books such as “The Practice” and “Manage Your Day-to-Day” help you get into a creator’s mindset.

When you talk to your family, you must be ready for the grind of your life. Explain that you may work 2-3 hours a day for five years before seeing the fruits of your labor.

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The end state of building royalties. Eventually, you will want to retire with royalties assisting with your expenses. 

Your royalty income can grow indefinitely if you continually attract new consumers to your work. The ONLY way to attract new consumers perpetually is through Google Web Search.

No matter how you earn royalties, you must start a blog and release written content. There are other ways to attract consumers, but they are all active.

Other ways include Facebook Groups, LinkedIn articles, YouTube videos, etc. These methods use algorithms that prioritize fresh content. If you stop producing, you slowly stop earning.

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You could also run ads on Facebook, Instagram, Google Search, and Amazon, but that is hit or miss. Even worse, it is expensive. 

Retiring with royalty income. While in the workforce, you have two mandates: create content and drive traffic to said content. 

These are two separate tasks, and both require time. Keeping your job gives you the time necessary to create a massive backlog of content and grow your domain ranking on Google Search. 

Let’s look at Military Family Investing. I am an active-duty Marine currently. I create books every day and post them on Amazon and Draft2Digital. 

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I drive consumers to my books in many ways, including my two YouTube Channels (Military Family Investing and Design Tips), my blog (Military Family Investing), my Facebook group (Military Family Investing), and Pinterest (Military Family Investing).

The primary way I plan to drive traffic is through my website. As my domain ranking increases, my 1,100 articles will slowly start bringing in more consumers from the street. 

Once a consumer arrives, I have a mild sales funnel that drives them to Amazon with free book promotions. Once they are there, they can view other books and my paperbacks. 

I am slowly building a following on Amazon authors, WordPress blogging, YouTube, and Facebook groups.

The magic of royalties. The main reason royalties will outperform your job is the ability to create multiple income streams. 

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For example, books are a low-ticket item; however, they serve a bigger purpose. Once I get significant traffic reading my books, I can add more products for consumers.

Let’s say I start selling 250 books monthly (roughly $500/month). I can add a link to an online course I created that sells for $200. If 2% of my readers buy the course (5 people), I make an additional $1,000 that month.

I can also add merchandise like mugs, T-shirts, dividend and passive income digital trackers, physical calendars, etc.

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These are additional passive income techniques, but I can also add active income methods. These include webinars, consulting, mentoring, and coaching. 

A full-blown business. Before you know it, you have a full-blown business. However, it all starts with royalties. 

Most entrepreneurs want to start with consulting, launching a product, or hosting new services. This is a difficult way to sustain a business.

The way I suggest is from the book “Content, Inc.” Create content, build royalties, drive traffic to said products, and monetize your rabid fan base with resources they can use.

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My way takes an additional five years upfront, so that’s why you need your job. However, I am living proof that this way can work. It moves slowly, but you can see flashes of greatness. 

Yesterday, I received an email saying I sold 37 books last month on Hoopla, one of the many platforms under Draft2Digital. This stacks on top of Amazon sales and other platforms on Draft2Digital.

If I had an online course, and one of those 37 readers ordered it, I could have made an additional $200. Wouldn’t it be cool to earn $200 while you sleep?

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Conclusion. I am taking my difficult path to start a sustainable automated business. It begins with building royalties and slowly adding multiple income streams to give more purchasing options to your audience. 

Building an audience takes time, so keeping your job is vital to paying expenses and saving money. Getting your family on board will be tough, so you must sell your vision.

Better yet, you must understand business, royalties, building an audience, and adding value. If you give yourself 2-3 hours a day for five years, you can start a strong brand and business. Good Luck!

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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it.  I have no business relationship with any company whose stock is mentioned in this article. All Right Reserved Military Family Investing