Multiple Streams of Income

Creative, right brained people have the natural ability to be able to juggle several different things at once. Why not use this, as well as our natural curiosity and notoriously short attention spans to produce some profits?  Why do we want income coming from several sources? I’ll tell you.

  •  Having several projects going at once increases the odds that something will work and you’ll it it big.
  • You do what you gotto do to make a buck. So you are a comic and you haven’t gotten your big break. Couldn’t you do a little corporate training? As a musician you could teach, write reviews or work on the fringe of the industry. A fine artist could also design websites or do portraits. An entrepreneur could consult on the side.
  • You go where the work is.
  • Putting all your eggs in one basket (either one client or in one creative profession) can be dangerous. Yes, it is good to focus, but don’t be myopic about other money making opportunities.
  • There is also a lot of waiting when it comes to making things happen. Then you have to wait to get paid. You have to have something coming in while you’re waiting. It is your best defense against bankruptcy, boredom and going bananas.
  • You are extremely limited by what you can make from wages and fees, but revenue from royalties and residuals can continue forever.
  • Get you through the lean years or an slump in your career.
  • So you won’t get complacent. We need new challenges and ways to channel our creative energies to stay fresh and sharp.
  • When one door closes another opens.
  • Strike while the iron is hot and take advantage of momentum.
  • What talents or resources do you have that could be used to bring in addtional income? Look at what you do and ask yourself, is there any other way I could apply the same things I already do to another market?
  • In previous stories I have said that it is important to be focused (and able to clearly and concisely articulate your story to others), or you risk being all over the place. My advice is, focus first, then you can branch out.

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