Which do you think is more valuable, residual profits from an online art business or wages? Which has more security over time?
This is a tough issue.
Our culture teaches us to expect wages for our time--the person who makes ten dollars an hour wants twelve, the attorney who makes a hundred dollars an hour wants to work his or her way up to two hundred, and so on.
Whatever the level, we’re talking about wages, or linear income. Is your income linear or residual?
Here’s how you can tell. Just ask yourself this question: How many times do I get paid for every hour I work? If you answered, “Only once,” then your income is linear--you are making wages.
Salaries offer linear income. Doctors and dentists earn linear income. Linear income is very time dependent--typically, when you don’t show up for work, or you take a day off, your paycheck stops.
Why Artist Residual Profits Are Better
With residual income (profits), you work hard once and it unleashes a steady flow of income for months or even years. You get paid over and over again for the same effort. For instance, if you wrote an eBook about how to paint in oils and started selling it on your artist blog, then you would create residual income or profits.
You can sell the eBook tens of thousands of times, over and over again, without any more effort on your part.
I get emails from people almost every week who have been let go by major companies. They write that they are angry because, after twenty or twenty-five years of working for security, they are now left out in the cold.
No matter how wonderful your company is, if you’re making a linear income, you are not secure; you only have the illusion of security.
Working as an employee, with no connection to the profits you help bring in, is not security. It’s just the illusion of security.
You can work for linear income and still create residual income in other ways. Internet marketing, visual arts, and blogging are just a few of the ways that offer artists potential residual income.
I created Smart Art Marketing Pro to help artists create a strong based of residual profits from an online art business. You can start out very small just like I did, and with no money, and build an online art business that will generate residual income in your spare time.
Something changes when you start working for profits rather than wages. I’ve seen the guy who’d always been too tired to go to work become motivated to stay up all night writing his first art blog posts. Or the woman who’d felt depressed and exhausted all week spend forty energetic hours on the weekend writing her first eBook.
I’ve seen a person’s attitude, voice, and face change when he or she starts to embrace this new way of working. The possibility of profits is empowering and releases the deepest reserves of creativity and energy.
Working for wages is limiting--the temptation is to do the very least to maintain the predictable and limited reward.
Connect with Gary on Google+