Passive Income Streams for Dance Professionals
Dance professionals — like professionals in any other industry — want to earn a sustainable income doing what they love. That’s why it’s so important for dancers to create passive income streams!
What is passive income?
Passive income is income that is earned while you are not working. It does not directly correlate with the amount of time you spend working, but it can be generated by your assets & knowledge. Often, dance expertise is a skill that one acquires over time — and a lot of time, effort and energy goes into it. So it’s only natural you try to monetize and generate passive income from it.
Passive income streams allow you to make money while you sleep, go on vacation, or spend time with your friends/family. They help you take your career to the next level and make more money in less time than ever before!
“You become financially free when your passive income exceeds your expenses.” — T. Harv Eker
Why are passive income streams important for dance professionals?
Passive income streams are important for dance professionals because they can help you achieve financial stability, professional growth, and greater financial & professional freedom.
Passive income streams also give you the ability to do what you love while providing an alternative source of income that allows you time off from work or study.
“The greater the passive income you can build, the freer you will become.” — Todd M. Fleming
How can you create passive income streams as a dance professional?
You can set up a business that will allow you to generate passive income while still maintaining your current lifestyle. This may require some initial investment but once up and running, there should be no further costs associated with running it unless something breaks down which would then require repairs.
- Create an online course for students
- Online courses can be sold on your website & storefront as well as marketed on platforms such as Udemy and Skillshare.
- Offer a relevant, engaging and well-structured course that fits your skills and experience, but also appeals to the audience you want to reach with your content..
- Use your social media account to promote the class or post links where people can sign up information about it. Versai’s Social Storefront allows you to share your portfolio easily across social media platforms, allowing people to learn more about your offerings in one click, thereby increasing conversion.
TIP: It is important to share & post regularly, so ensure you are posting at least once every week, if not more often. Again, the more the better :)
Sell your own online tutorial videos
- Selling your own tutorial videos is a great way to make passive income and get paid for the work you do. You can create and sell your own tutorials, or even turn them into courses if you're interested in creating more than one video.
- Teaching online master classes also works wonders for instructors. Dancers spend years developing expertise in dance forms & styles and if you have a certain expertise, teaching online master classes is a great way to make passive income. There are many topics that can be taught through this method including: Technique focuses, Recovery for dancers, Introduction to a style, Choreography methods
- Online choreography services are a great way to make money as a dancer and add it to your passive income stream. These services include recorded classes teaching dance moves, routines and more.
- In this day and age, choreography services for weddings are very popular and dancers can be paid several hundred dollars, if not upwards of a thousand for these services.
- There are many ways to market your videos online, especially through social media channels like Facebook, Twitter and Instagram. You'll also need a website where people can learn more, so make sure your site is easy to navigate and has lots of information about how they can get started. Versai’s storefront allows you to do just this, without the hassle of setting up an elaborate website & account, in under 10 minutes!
- You'll also want a good camera set up so that when filming, everything looks professional & packaged! Don't forget essential equipment such as microphones either - these enhance the sound quality and set you apart from the rest!
- Referrals as a source of passive income. As experienced professionals in an industry, you likely have a network and contacts built over many years. These networks can be leveraged in many ways. One of the most prominent ways to earn money is through referrals for brands & businesses
Check out Versai: we pay $200+ to instructors for each successful referral — an easy win for you and your friend!
As a dance professional, there are many ways to make passive income, giving you more freedom and independence to do what you love.
And the best part is, these tactics don’t require you to give up a day job yet can dramatically increase your earnings. It’s as simple as creating an online course or instructional videos one time and selling them repeatedly. We hope these ideas will inspire you to get started today.
And with Versai’s portfolio of creator tools. you’ll have everything you need to set up confidently and scale these income streams to grow your business.
Sign up and explore Versai today with our no-commitment, no up-front-cost solution at app.versaihq.com/register