Do you remember the 7 Income streams for an architect? The most interesting one was:
- Royalty Income is the money you get as a result of letting someone use your projects, ideas, or processes.
e.g. If you write a book, you earn royalties when someone buys a copy. If you design a project, you make money when someone buys your designs or adapts it professionally.
The biggest challenge here is to create something unique and then make it repeatable. This will need special skills to create such an asset but once created, there is virtually no limit to the amount of money you can earn. You would hardly find any wealthy architect with an income stream only from the ‘Earned Income’ category. This stream is where our time utilization is least efficient, and since there is a limit to the number of hours we can put in a day, there is also a limit to the amount of money we can earn from this stream of income. All other streams of income are not directly dependent on time, and hence can leverage time well to generate huge wealth.
So go on, chose your streams. The biggest risk to your financial life is being dependent on only one income stream where you are actively involved. Each of these streams are one step above the other. You just need to get into the details and understand them more. Try it out. It could well be life-changing for you and your upcoming generations. Now try to imagine this. You walk outside and open your mailbox. Sitting inside is a check for thousands of Euros. Best of all, you didn’t lift a finger to earn that money 🙂
Sounds fantastic, right? Well, hundreds of architects on Stoor.pro have been enjoying this experience for the last year. And in the past few weeks, we made several new deals that will make it happen more often.
Why are they getting these checks? Because they’re royalties.
You may think the only way to get royalty checks is to sell a book to a major publishing house… or sell a screenplay for a movie or television show… or sell a piece of music that you’ve written. And you’d be half right. Authors, screenwriters, and musicians usually receive substantial royalties for their work.
Now, you can also earn Royalty Checks, selling your own projects all over the world.
Have you ever considered selling your own projects and earning Royalty Income?
Photo Credit by Alexander Mils