Intellectual property is a nice choice for creative people because it’s so flexible. You can create a piece of property once and then license/sell it in many different forms.
I also love that you don’t need a lot of money to create intellectual property. I wrote my best selling computer eBook when I was dead broke. Its budget was basically £0. It didn’t cost me anything to write my e-Magazines either. You can create a great deal of content for free.
However, because the barrier to entry is so low, it means that lots of people are going to attempt this. The vast majority won’t be any good, but this does create a crowding effect. Even if you’re good at what you do, it may take some time to separate yourself from the mosh pit of wannabes, especially in the eyes of people you’d like to work with.
When you create something, try not to wrap your self-esteem around it. In the beginning you’re probably going to suck. That’s okay. Everyone but Mozart sucks initially. Keep practising and honing your skills, and you’ll get better.
I love doing creative work, so I’ve created a great deal of intellectual property, including software, eBooks, Articles, Newsletters, Logos, Signs, Music, Artwork, and more.
Being creative isn’t enough if you want to turn your creations into income streams. Selling, licensing, and deal-making are important skills as well, and I suggest that you try to respect these roles as much as you respect the content creation side. If you’re unwilling to develop those related skill sets, then give some serious thought to partnering up with someone who can perform those roles. If you can convince them of your creative genius, it’s a great opportunity for them as well. It certainly worked out well for Steve Jobs acting as deal-maker for Steve Wozniak in the early days of Apple Computer.
Our goal is to find multiple income streams, and the more passive the better.