Diversifying Income as a Freelancer

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Diversifying Income as a Freelancer Joe Casabona casabona.org/resources @jcasabona

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@jcasabona We only have ONE shot.

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Luke: good pilot, used Force. Han Solo.

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Al: Already impressed Jasmine, friends, charm

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Em: Music, movies, producer. Sick diss tracks

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Our protagonists accumulated a diverse skill set that helped them succeed.

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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.

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You don’t wait until your car is completely out of gas to get more.

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Preparing for the Famine

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@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

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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

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@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

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@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

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@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

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@jcasabona Partnerships I’ve partnered with Zac Gordon, Shawn Hesketh, and Brian Richards

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“But I don’t have time to do that.”

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No content

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The famine is coming. You need to make time.

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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.

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It won’t be easy.

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It WILL pay off.

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I took on barely any web dev clients in 2019. And I didn’t sell that many courses.

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@jcasabona Ideas for Diversiﬁcation • Afﬁliate Marketing / Links • Sell Hosting (if you’re a web developer) • Sell Digital Goods • Drop Shipping • Sell an online course • Create a podcast

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My Income Streams • Selling (and licensing) Online Courses • Building Websites • Creating Videos for Hire • Podcast Sponsorship • Afﬁliate Income • Consulting

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You can do it!

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Consultant & Educator I help tell your story. Slides: https://casabona.org/resources/ Twitter: @jcasabona I’m Joe Casabona

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@jcasabona Special Offer! Visit creatorscourses.com/vp to get 40% off annual memberships.