Building a Career from Different Income Streams

• Ensure you have a stable income stream before you take attention away from it.
• Let your audience, customers, and fans tell you what they want. If you can understand when your market wants something from you and if they are willing to pay for it, creating other revenue streams will naturally develop.
• Testing ideas is essential.
• Not all projects should be monetized. Some will pay you back in other ways like creatively energizing you or letting you experiment and fail, that may be valuable.

Working hard and a lot to make more money is a myth. Each pool of income requires different amounts of effort, and the income can fluctuate from year to year.

Creating a pie chart can help you see where to put more energy into the work that aligns with your goals.

The idea of a diversified portfolio is to have different kinds of active and passive income.

Passive income is investing time and money up front to help earn money continually even while you sleep. It can take many forms, including digital downloads, e-books, selling stock imagery, licensing your artwork. However, passive income sources still require varying levels of upkeep.

• When you're fully self-employed, you'll need to earn more because you'll need to pay both employer and employee taxes, pay your own health insurance, fund your retirement, and cover your operating overhead.
• You can find incremental ways to make the transition to self-employed. Negotiate with your employer to go part-time or remote for some time while taking on a side gig or creating content.