How To Make Money While You Are Sleeping

​As I’ve written so many times in the past, the best thing about this industry is the friendships that come out of everyone’s love for the craft. Sure, it’s about imaging, but it’s also about the community, sharing, creativity, and respect. 

Rick Sammon and I have been friends for easily thirty-plus years, going back to my early days at Hasselblad. We’ve worked on many projects together, sat next to each other at rubber-chicken industry dinners, and share a long list of mutual friends. Rick’s newest book is loaded with great content to get you thinking about not only your business but ways to maximize your skill set.  

While I’d love to share more, let’s start with part Rick’s introduction, which will give you and idea of the framework of the book. There’s so much good content!
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Anybody can start a business. Anybody can get their first few sales. But the key to longevity is creativity, paying attention to your business, building relationships, and having an earning strategy that’s always working…even when you’re sound asleep!

​The quote by Warren Buffett that opens this blog post was the inspiration for my latest book (paperback and Ebook), How To Make Money While You are Sleeping: A photographer’s guide to passive income – and other savvy business strategies.  

I want to share with you part of the Introduction from the book. As you will see, if you put in the effort while you are awake, you can indeed make money while you sleep.

The book is dedicated to the memory of my dad, Robert M. Sammon, Sr., who, through his example, showed me the importance of paying careful attention to one’s income, expenses, and investments . . . as well as the benefit of living below your means.

My dad, an amateur photographer who got me started taking pictures, also gave me some invaluable advice when it comes to making money: “It takes a lot of peanuts to feed an elephant.” In other words, he was saying that all those pennies and dollars can add up, which is the theme of this book.

​“Dad, you’re not only a photographer, but you are also an entrepreneur who happens to be a photographer.” – Marco SammonThat’s what my son Marco, seventeen years old at the time, said after I introduced myself as a photographer at a neighborhood party.

Marco, who has since received his PhD in Finance and is a finance professor at Harvard Business School, was making the point that although I take pictures for a living, I spend a lot of time—the majority of my work time actually—on the business side of my profession. I’m always working hard on new projects—writing books, setting up affiliate programs, cultivating sponsorships, recording online classes and podcasts, and so on.

Marco, who has since received his PhD in Finance and is a finance professor at Harvard Business School, was making the point that although I take pictures for a living, I spend a lot of time—the majority of my work time actually—on the business side of my profession. I’m always working hard on new projects—writing books, setting up affiliate programs, cultivating sponsorships, recording online classes and podcasts, and so on.

Marco also observed that I spend a lot of time promoting those projects on social media, and then tracking the results. We’ll talk more about tracking sales later in this book, but for now, if you self-publish a paperback or Kindle version on Amazon.com, you can actually track sales on an hourly basis – which I don’t encourage because it can become addictive. However, I have to admit that I do track sales quite frequently when I release a new book.

So, the message here is this: as much as you love photography (as I do), and as much as you want to save the world (its people, wildlife, environment, and so on) with your craft, it’s important to understand that in order to succeed you must also be a good businessperson—which involves generating income while you are both awake and asleep.

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If you know me from some of my other photography books, photo workshops, tours, seminars and online classes, you may be thinking, “I like Rick’s photography and I’ve learned some cool things from him, but what could he possibly know about sound business practices?” Well, believe it or not, before becoming a professional photographer I spent ten years (1980–1990) at Bozell & Jacobs as vice president/group supervisor on the Minolta camera account.

At that time Bozell & Jacobs was one of the largest advertising and public relations firms in the world. At that agency I learned about the business side of photography, as well as how to promote Minolta photographers, including famed Beatles’ photographer, Harry Benson.

When I left the agency, I had the “ammo” to promote myself through advertising and PR. I had also learned the business side of a professional photographer’s life from working with other famous photographers like fashion photographer, Robert Farber, and United Nations photographer, John Isaac.

The lessons I learned at the agency were invaluable, as were the business lessons I learned as editor of Studio Photography magazine (from 1978 to 1980). Having been hired with no editorial experience, my boss and the publisher of the magazine, Rudy Maschke, said this to me when I asked him for my first raise: “Sammon, you are learning so much that you should be paying me.”

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On these pages I will share all I know about the business side of photography with you, which of course includes making money while you are sleeping. These lessons have helped my wife, Susan, and I run our business for more than thirty years—and I can tell you, there is nothing like running your own business. As a small business owner, you learn very quickly that you are both the “chief cook and bottle washer,” as my dad used to say.

When thinking of generating income while you are sleeping, please don’t get me wrong, I still work my butt off during my waking hours—because I love what I do. And as the saying goes: “If you love what you do, you never need to work a day in your life.”

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Generating income while you are sleeping starts with your waking time, something we’ll cover in Chapter 1.

Before You Doze Off.
If you are new to generating passive income, the cool thing is that after you put in the work, you can doze off (take a nap during the day or go off to bed) and wake up a little richer than you were before you closed your eyes.

The key phrase here is “a little.” Before I explain, here’s another expression my dad shared with me: “Everything is relative.” In other words, “a little” means something different to different people.

For example, “a little” passive income each day from different sources (including books, online classes, and crowdfunding projects) could possibly add up to a very nice source of income. In fact, I know several well-known photographers whose major source of income is generated passively.

In subsequent chapters, you’ll see how you can generate “a little” income while you sleep with different money-making projects that you can create during your waking hours.

​Here’s a look at the table of contents (topics I cover) for the book:
Acknowledgments & Networking
Author’s Preface
Introduction
1.   Before You Doze Off
2.   Your Website: Your 24/7 Store
3.   Socialize or Succumb
4.   The Advantage of Affiliate Programs
5.   Buy Me a Coffee
6.   Start a Facebook Group
7.   Write or Narrate a Book
8.   Offer a Downloadable PDF EBook
9.   Join the Crowd with Crowdfunding
Intermission
10.  Start a Podcast
11.  Record an Online Class or Classes
12.  Offer a Newsletter
13.  Strive for Sponsorship
14.  Create Content for a YouTube Channel
15.  Get into Webinars
16.  Sell Prints Online
17.   Launch an Online Forum
18.   Suggest a Product to a Company
19.   Take Stock of Stock Photography
20.   Your Money Can Work Harder for You Than You Can