How to Boost Your Income By Getting Free Royalties
Can you imagine getting a royalty check at the end of every quarter for doing hardly any work?
Royalties really are one of the only forms of true passive income. But, they're usually only available to a certain few. Think actors and musicians who get a check each month for performances they did decades earlier. And even some inventors see a monthly royalty for their ideas.
But, for most of us, royalties are not normally something we'd ever see.
That's why I thought this idea was so cool...
Motif Investing is giving away FREE royalties!
This is definitely not something you're going to get rich doing, but I think it could be an awesome way to bring in some extra money each month.
MotifInvesting.com has started giving away royalties on their site to those who help them build their community. More on that in a second.
First, let me tell you what I know about these guys...
Everybody is talking about these guys right now, including the New York Times and the Wall Street Journal (and I've written about them before here). They are an online brokerage firm that is trying to change the way everyday people invest in stocks.
Because instead of picking individual stocks, they allow people to invest in a cluster of stocks (usually 20 to 30) with a similar theme. Sort of like a mutual fund, but they're called 'motifs' and they range from Clean Energy, to Republican or Democratic Companies, to Healthy and Tasty, to Obamacare. Basically any interest you have or trend you’d like to invest in can be found on Motif.
The motif can be rebalanced anyway you like (you can take certain stocks in/out), but the cool part is that instead of paying a commission on each of those stock trades, they let people buy the entire motif for a single $9.95 commission.
Anyhow, enough background. Here's how to get free royalties...
Motif Investing calls it their creator royalty program and it's totally free to participate in. Basically, anyone can design a motif and list it for sale on the MotifInvesting website. Anytime they sell one of your motifs, you get a royalty.
And creating a motif is pretty easy - you choose 20 to 30 different stocks, come up with a clever title, and then list it on their website.
The royalty is currently set at $1 per motif sold. It doesn't sound like a lot, but you can create as many motifs as you want. And remember, creating them is free. So, lets say you create 3 motifs and only five people purchase them everyday - you're pocketing an extra $1,350 every quarter. Not bad.
Here's how to do it, step-by-step….
Want to give it a try? Here's the signup link. (Sorry, this is only open to USA, 18+)
Want to maximize your royalties?
To start with, I would definitely let your friends, family, Twittersphere, and Facebook fans know about the motif you've just created. You can also post about it on message boards and news feeds to help make people aware of it.
But, none of that is really passive. So, here are a few tips on how to sell a bunch of motif's passively:
- Create a compelling headline/motif name. Which of these titles is more interesting to you 'private equity companies' or 'Own the Vultures! Top Private Equity Companies!". Those are both titles of motifs being sold right now, but as you can imagine, the second one is selling better than the first.
- Pick high performing stocks. I know I make it sound simple, but the motifs that are getting the best percentage return are pushed towards the top of the list. If you're at the top of the list, more people are going to see and being tempted to buy it. Stock motifs are sorted by the previous month's performance.
Sometimes it's a bit of luck, but since there are no limits to the number of motifs you can create, you might as well create several and hope that one of them gets you to the top of the list. :)
Your turn: Would you try creating a motif to earn some royalty checks? Have you created any other forms of passive income?
Good luck Penny Hoarders!
** Now, we want to be up front with you on this – MotifInvesting is an affiliate of The Penny Hoarder. While we genuinely recommend them, they do help to keep the lights on around here.