Career

Art + Passive Income= A Potential Pairing?

 

photo by dan machold

photo by dan machold

Let’s talk about money for a bit, and making money as a fine artist/writer.

If you’ve been reading this blog for any period of time, you know that I am deeply masochistic. If I have an opportunity to agonize over something, I give my agony everything I’ve got. Martyrdom is my default inclination, except in one situation: my career. When it comes to how I make money, I am resolute. If it feels like I’m wasting my time, or the job is conflicting with who I want to be, I quit. My time is precious and I will never get it back. The last thing I ever want to do is make an unscrupulous person a profit off of the single most sacred thing in this earthly, mortal life.

I blame my parents. They made me read “Rich Dad, Poor Dad: For Teens” as soon as I turned 13, and it changed me forever. The book, for those who haven’t encountered Robert Kiyosaki’s ideas, is that the key to being wealthy isn’t to have a job where you earn a tonne of money, it’s to create a life in which your “money can work for you”. He’s just talking about passive income, e.g. dividends off of stocks/mutual funds/bonds, interest from savings and profit from other kinds of investments. The idea’s been around since the invention of the concept of land ownership, and then intensified by the invention of the stock market, so Kiyosaki isn’t exactly talking about ground breaking stuff. But to 13 year old me who wanted to do nothing but read and write all day long and kept getting met with “Writers don’t make money,” it was the first time that anyone had ever told me that I actually had options as to how I afford to stay alive while being creative.

The back of the book had an image of him and his wife on the backs of white horses, posing on a beach in Hawaii. I’d look at that picture and think “one day, that’s going to be me.” Not that I want to be on horseback all day, that’d be exhausting. What I mean is that why don’t artists discuss this option: Work a day job and make art at the same time. Invest in stuff (ambiguous, and it takes forever to start making decent returns, I know). While your investments are growing, continue to work on your art. And then, when you’re making enough from both avenues, quit the day job and be an artist and not starve.

I know this idea is super middle-class, privileged and assumes so many things is hurts and you probably hate me as much as I hate myself right now. But something doesn’t sit with me around the idea that artists must starve and have no options for an income/financially stable future other than to pray somebody takes notice of their work like rotting away at a soul-sucking day job. There’s gotta be another way. Why can’t passive income + art income be one of them?

All of these ideas are very preliminary, and I’m still working out exactly what they mean to myself and others. But I’ve been ruminating over this since I was 13 years old and I’m finally ready to air it out and open it up to some discussion/debate.

What do you think?

Am I completely off the mark with this being a viable option for at least some artists?

What kinds of creative types do you think this could work for? I had fine artists/writers in mind, i.e. highly creative individuals whose work can often take extended periods of time to gain traction with a sizeable-enough audience to make a living from.

Head down to the comment section and chime in!

Talk soon,

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Trust

“If you fully immerse yourself in making the most of your present, you can rest assured knowing you’re making good decisions  for your future. Your present is all you’re going to have to work with throughout your entire life, even in your future.” – My academic advisor to me today, during a meeting about what I’m going to do with the rest of my life.

I’m paraphrasing a bit here, but that the essence of what my academic advisor was talking about here goes back to what I was talking about earlier about Trust. Trust yourself to make good decisions about your present. You’ll get better at foresight once you’ve got a little more hindsight behind you. Same goes for me too man! I try to develop good judgement through school, and studying the great works of my foreparents, and I too often need reminding of the value of firsthand experience.

Thanks for reminding me, academic advisor!

Much love,

A.Y.

Break (n.)- a brief rest, as from work

Today, my good friend Chantelle said something that really resonated with me.

I had spent an hour trying to understand a reading for my Philosophy of Mind course. Hilary Putnam is one of the most brilliant philosophical minds of our time, but his writing is highly fraught and difficult to interpret. In my usual way, I was avoiding facing the issue and going back and forth between reading a few lines of the essay and playing CityVille.

Finally, Chantelle said “A.Y., why don’t  you just take a break?”

“I have been taking breaks! I was just on Facebook! I’m taking too many breaks!”

“No A.Y. You need a proper break. A distraction isn’t a real form of rest.”

Oh. Snap. And ain’t she right?

Procrastination is very different from stepping back from a task and looking at it with objective eyes. If your break leaves you frustrated and even more tired and utterly unfit to come back to your work with a new force of will, you did not have a proper break.

So close Facebook, close Twitter, stop checking your email and go for a walk.

Avoiding is not resting.

May your voice be with you,

A.Y. Daring

P.S. I asked out A Boy. He wasn’t The Boy from yesterday’s post, but he was cute, and A Boy said yes. It’s not a date though, just coffee, but I swallowed my pride and fear of rejection and asked. Progress!

Networking Tip #1

There will be a number of these. This is the first, and it comes from one of the amazing people I am blessed with interacting with in my life. His name is Jeremy Steffler, and he patiently sat with me and walked me through the process. Jeremy and I talk a lot, you’ll be hearing more about our conversations.

The dilemma: You. You are a young excitable thing. You want to take over the world, and you’re well aware of the fact that you won’t be able to do so without some strategic alliances, i.e. networking. (You can’t command an army without a few advisor-generals you know.) So you put yourself out there and after a bit of socialising, you meet someone in your industry and/or community who knows the people, who know the people who can help you get to where you want to be. They could mentor you!

So, do you ask them to mentor you, since their current path so closely follows your own?

The solution: Not necessarily. If what you need from them is just a key pieces of knowledge, what you may need to pursue is an information session as opposed to a formal mentor relationship.

What’s an information session?

It’s an hour or half hour or 15 minute block of time in which you ask the person you respect key questions related to a set number of topics. The goal is twofold:

1) You want to find out the answers to your questions that they are able to answer.

2) You want to keep your foot in the door for future communication.

This second goal is the most important one. When you tell them you want an hour of their time, show the respect they need to see from you in order for them to want to be around you more in the future. How? Well the best way is by sticking to that hour.

Before the meeting, be very clear with what it is you want from them. Email them a set of questions if they ask for one. Otherwise, just let them know what it is you want to talk about. Use spellcheck in your emails. If it’s a verbal request, keep “like,” “um,” and vapid expressions to a minimum until you’re in the clear. You know you’re in the clear if at some point during the conversation, they express a genuine interest about you as a person. Listen for something along the lines of “You remind me of me” or “You seem like a highly capable young person”. Then you know you’re in their good graces.

Once you’re at the meeting, if you asked for one hour of their time, make sure you keep it at one hour. At 10 minutes to 5 o’clock, make sure you say “Oh, I see we only have 10 minutes left, so we should start wrapping this conversation up because I understand that you need to get back to your work…” and then leave it open to them to wrap it up. If they have the time and you really wow them, it leaves the door open for “Oh I don’t mind, I can probably stay until 5:30 so we can talk some more about how you’re going to ursurp Oprah and what I can do to help.” Then, you’re golden.

What happens after that? Well the next time you need 15 minutes of their time, they’ll remember you as the respectful and eager person who will only need exactly 15 minutes, and who doesn’t have 15 minutes to share their wisdom to Future Oprah types? And you’ll have developed a reputation as honest, reliable and capable in the eyes of one person, and let me tell you, people talk. Soon, more than one person will know you to be the kind of person they should talk to. Pat yourself on the back, you’ve got your foot on the first rung of success. Awesome sauce.

My $0.02: I feel as though this particular networking tactic would work best with older baby boomers. They’re going through the “legacy” phases of their lives. Basically, for those of you who don’t read studies on development psychology for fun (what?), it means that they’re at the point in their lives now where they’re looking to reach out to scrappy young things (like you!) and begin grooming their proteges and/or imparting their vast stores of wisdom. They’re doing a lot of self reflection, and their eyes are open for those who can continue their work after they retire. They’re beginning to cultivate their legacy. They’re the ones I think would be most willing to sit down with someone who genuinely shows an interest in their work.

Get yourself on the same clubs and committees your key community players are on, regardless of their age. But be genuine about it. If you’re just there to hobnob and not actually provide value, people will sniff it out, you’ll be ostracized from those communities and that’ll be the end of your climb. No fun. Go into the community you seek to influence, identify where areas of need intersect with your skills and make yourself useful.

See also, this:
5 Ways to Cultivate an Active Social Network