Royalty is a monthly payment to the owner of some intellectual property.
For example, musicians receive royalty payments from selling their music records. Photographers get royalties from selling their images. Bloggers get royalties from showing ads to their viewers.
The main advantage of getting royalties is that this is a passive income. Work once, and you’ll be getting royalties for a very long time, potentially throughout your life. Sometimes the author’s descendants receive royalties after his death and, in some cases, they get even more than the author during their life.
How to get royalties?
Write a book
You can write a book on a topic that’s important to you. You can do it on an “Opportunity” square > Small Business. If you decide to write a book, put the time you’re planning to spend per month into Time Flow.
Some books can be written in a week; some require years of work. After you’ve finished, it’s time to search for a publisher. There are different options when calculating your pay: fixed fee, royalty checks, or both.
Most popular authors get the most money.
The reader’s reception of your book is unpredictable. Sometimes, the author has to write a few mediocre books before his big break. The more life experience your character has, the higher their chances of writing a successful book.
Become a Blogger
Internet diaries, or blogs, first appeared in the mid-2000s, and have replaced websites and traditional media ever since.
You can make decent money by selling ads on your blog.
A blogger’s main asset is their followers, and the only way to attract them is to post interesting content systematically. You can start a blog on an “Opportunity” square > Small Business. If you decide to become a blogger, specify the time you’re going to spend on blogging in Time Flow.
To promote your blog, you’ll need to:
- Attend relevant seminars;
- Develop your networking skills;
- Have all kinds of connections;
- Be in a good mood;
- Have a life experience.
There are four levels of a blogging career:
- 1000 followers
- 100.000 followers
- 1.000.000 followers
A popular blog can bring revenue from selling ads, plus your personal popularity will affect your business projects.
Overview * The Goal * Characters * Balance Sheet * Filing the Balance * Making Money * Bankruptcy
|Cards and squares||
Opportunity * News * Education * Routine * Major Event *
Day Off * New Month
Employment * Business * Real Estate * Securities * MLM * Art Investment * Royalties
Bank * Auction * Stocks
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