Do you have multiple income streams?
I've got a few (I teach online courses about photography + business) and really enjoy it! I've found that having multiple income streams means that there's less pressure on my photography to bring in 100% of my income, which in turn means that I enjoy my creativity and art a whole lot more.
I'm really curious to know how many other creatives there are out there who've got multiple income steams? If you do, how do you find it? If you don't, why not, and would you ever consider adding some?
More of a curiosity and conversation starter on my behalf, really :)
Replies12
- I get almost 100% of my income through grants for my art practice. It's very stressful, considering that if something goes wrong, I lose my entire income.
- Hi Olivia! I think multipe income streams are super important for freelancers. It's nice to know that even if you're sick, or you can't work for a few days, you have extra income than can roll in without you needing to do anything. I currently have three passive income streams and am working on adding a fourth.
- Hello Olivia! Like yourself, I do. For me, it was a natural progression. My curiosity, artistic leanings and interest in the world around me propelled me to don multiple hats. Weekends haven't really been my own in years (!) but I thrive when I'm productive so the unconventional work schedule is second nature now.
- Love this topic! It's one I breakdown a lot in my new book, how to think about your revenue streams especially when you love doing more than one thing or if you have one theme you want to work in numerous ways. I believe you need a balance of streams that include and/or a mix of bread & butter, semi passive / passive, reoccurring and 'star work' (large one off lump sums). It's important that you can balance making money that doesn't always involve you so that you can survive if for whatever reason you can't work for a period of time. Having a portfolio of work isn't a breeze, it does require great organisation, good personal branding and self care. But I wouldn't have it any other way as under my work & purpose umbrella of 'Happiness Consultant' I have all which help to navigate peaks and troughs of work flows and I'd be super bored if I didn't!
- I think I have about 6 different income streams! Generally, I feel pretty good about that because I get bored easily and sometimes you also have to deal with seasonality in business. Multiple streams are great to ensure (somewhat) steady cash flow.
- Hi Olivia,Nice question...I've always beleived that to have a truly sustainable business multiple income streams are crucial. We work in an industry that changes so regularly, and to put all your eggs in one basket is a bold move (for someone braver than me!)For as long as I can remember we've always tried to make money in a few different ways; whether that's across our group through publishing or agency means, or when we started by doing graphic design jobs on the side as we built It's Nice That.The major challenge of course is time and energy - but I always felt much happier and energised knowing that I had a few irons in the fire, rather than just one.Hope that's helpful - here's to multiple ways of making money!Alex
- Hey @Olivia Bossert I have a main 9-5 job but then a good handul of side hustles. That being said perhaps you could call them more passion projects than anything else. They do have the potential to earn income but i've found that when i start to do that it takes them in certain directions that aren't that much fun and adds pressure when doing them. I'm all up for goal setting etc to keep them moving along, but adding a dollar sign to them changes things.I always tell myself that they are relatively beginner/intermediate projects and that i can do them for free for a while to gain more experience and exposure. That always seems to be a good trade off.The most intersting thing i've found is that when you do these things for free, and connect with other people on them, you find yourself trading each other's time; you help them out, they help you out. So you end up having all these opportunities open up as well, which i think is more valuable and interesting.This leads the way to exploring the projects more and then over time i imagine i might spot an element of it that i can make money from without damaging the intergirty of the project (or maybe a project gravitates towards this in a positive way).
- I'm interested in doing this. But I also feel by having my income solely from one job type means I dedicate all my energy in that which has its obvious benefits.
- I do but I have been pretty stressed out anyways this last days... But I have to admit that having multiple income sources is way more calm than sticking to only one job! It also requires much better organization skills, but it definetely pays off!My sources are all of the same kind of job, but having diferent workspaces and clients helps a lot in defeating monotony and boredom :)
- I do, generally all in the same area.. but I would love a side hustle to take the pressure off so that I get to let my actual creative brain out a little.. any tips let me know :)
- oh gosh I have quite a few for years I did feel pressure to just stick at one thing. I think it takes the stress out of my freelance illustration work and so I don’t just rely on that. I have an online jewellery shop, I do live illustration events, I run my blog with sponsorship I think like you said it takes a bit of the pressure off :) i think its kinda good to not put all your eggs into one basket.
- I do! I teach business, SEO, mentor newborn photography and just started offering online digital scrapbooking. Just wish there was a few more of me to keep up. But I love my job(s)!
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