Diversify income as quickly as possible. If money is coming from only one source, you're too exposed. Have several sources of income, a side job, a product you sell, something else that brings in money other than your 9-to-5.As a freelance writer/ online marketer, this is true for me as well. Writing just for one client, for those who ghostwrite or write for a byline, can be risky. I saw this firsthand in the past year when friends of mine on the WAHMs Who Write Forum were let go from Demand Studios, Writers Research Group and other large companies. Suddenly they had no work or very little, and their families were counting on their income.
My income comes mainly from the following, in no particular order:
- eHow ebook
- eHow articles
- Affiliate sales, primarily Amazon, HostGator, CommissionJunction, SiteBuiltIt!
- Adsense, especially on my home & garden blog & pets site
- Private clients (two are editing gigs, one is writing)
- Bukisa & InfoBarrel
How do you diversify your income sources?