What it feels like to be in a royalty business

Someone keeps writing me cheques

When you start a business you have to do many things to take it from conception to birth to growth to maturity. My business has just gone beyond conception and it has been born. This was marked by the first sales of the business and the first bonus cheque to come into my bank account this month.

It was a small cheque but a significant one. It marked the start of the royalty-based business I have started. Royalties are a fabulous result of people buying your products over and over again. If you are a successful artist, you will know what this feels like. You do something once and well. People continue to buy your product and you keep receiving a royalty. That’s why bands want to release catchy Christmas songs. Every time a shop plays ‘White Christmas’ by Bing Crosby, the person who owns the rights to the song gets a royalty. Year in, year out.

So, running a business which receives royalties from the efforts that you have put in feels great because if you put the effort it, the company keeps rewarding that effort. It’s not like pay which gets paid regularly in most jobs and stays the same no matter how hard you work. Royalties keep on coming in and growing as long as you keep putting the effort in.

But, more importantly, this business feels great because by helping people with either your products or by helping them to grow their business, you get rewarded handsomely. But this is no ‘get rich quick scheme’. No, this is far deeper than that. This is a business which continues to grow even if you continue to work a consistent 10 hours or more a week.

A royalty business is not for everyone but it is for those who understand that royalties keep coming in while you are sleeping, on holiday or helping people.

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