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)
- HubPages
- Bukisa & InfoBarrel
How do you diversify your income sources?
4 comments:
Maria - I love your list of income streams. I agree with you that it is EXTREMELY important to have as many as you can right now.
I too am working on diversifying my income streams. I was let go by Demand Studios last summer. I was lucky that writing was only my part time job so it did not hurt as bad.
I am working on building my income through many places. I am still only writing part time, but am looking to take the plunge to full time this year.
Ehow
Associated Content
Bukisa
Info Barrel
Textbroker
Brighthub
My freelance writing blog
Affiliate Sales
Private Clients
I started writing as a way to diversify income! What a timely blog post.
Maria- Thanks for the encouragement to keep diversifying the income streams. You continue to be a huge help and inspiration as I work toward independent income. By the way I reference your Ehow ebook every two or three days. I keep finding more little tidbits that help....
Post a Comment