Diversifying Your Income as a Freelancer

We've all experienced the feast and famine of running a business. There will be times where we are swamped with work, and times where there's no work coming in at all. What if there were a way to ease the pain of both? In this talk, you will learn how you can prepare for the famine without breaking your back from the feast. All by diversifying your income streams.

Transcript

1. Diversifying Income as a Freelancer Joe Casabona casabona.org/wcmiami19 @jcasabona
2. @jcasabona We only have ONE shot.
3. @jcasabona Luke: good pilot, used Force. Han Solo.
4. @jcasabona Al: Already impressed Jasmine, friends, charm
5. @jcasabona Em: Music, movies, producer. Sick diss tracks
6. @jcasabona Our protagonists accumulated a diverse skill set that helped them succeed.
7. Feast Famine You’re so busy (maybe even too busy), & it seems you’ll have work until the end of time. Work dries up, leads aren’t coming in, and you can’t get paid fast enough.
8. @jcasabona You don’t wait until your car is completely out of gas to get more.
9. Preparing for the Famine
10. @jcasabona How to Prepare for Famine • Pay yourself a salary • Save extra money in an separate account for slower times • Start generating new leads during the Feast • Create multiple streams of income
11. Why Diversify? • You don’t put all your eggs in one basket • It’s less stressful (Imagine only having one client) • You can explore other creative avenues
12. @jcasabona Ways to Diversify • Look at auxiliary services you can offer • Look at skills you have unrelated to your core business • Partner up with someone and create something cool
13. @jcasabona Auxiliary Services • A web developer who offers maintenance package that you can basically outsource • A podcaster who sells T-Shirts • Write an eBook about what you know / have learned • Coach / Consult
14. @jcasabona Additional Business Examples • Pippin (Pippin’s Plugins) started a brewery • Brian Krosgard (PostStatus) has products around cryptocurrency • James Laws (Ninja Forms / Saturday Drive) is part owner in a coffee shop • Joe Howard (WP Buffs) and his MRR course
15. @jcasabona Partnerships • 101 Videos (Shawn Hesketh, Brian Richards, and me) • WooSesh (Brian Richards and Patrick Rauland)
16. @jcasabona “But I don’t have time to do that.”
18. @jcasabona The famine is coming. You need to make time.
19. How to Diversify #1: Save money during the Feast for the Famine. Take some percentage of your income and put it in a rainy day fund. #2: Use that down time during the famine to work on your other revenue streams. Use the money you saved to pay yourself. #3: Time Box! Allocate time to work on other projects.
20. @jcasabona It won’t be easy.
21. @jcasabona It WILL pay off.
22. I took on barely any web dev clients in 2018. And I didn’t sell that many courses.
23. @jcasabona Ideas for Diversification • Affiliate Marketing / Links • Sell Digital Goods • Drop Shipping • Sell an online course • Create a podcast
24. My Income Streams • Selling (and licensing) Online Courses • Building Websites • Creating Videos for Hire • Podcast Sponsorship • Affiliate Income • Coaching / Consulting
25. @jcasabona You can do it!
26. Joe Casabona Educator, Developer, Podcaster @jcasabona casabona.org/wcmiami19