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Four Strategies to diversify your Earnings by working as freelancer

Nov 25, 2022

This was originally posted on womenwhofreelance.com as a contribution from . The original article here.

So you're a freelancer. Congrats! Receiving that first payment from the very first customer thanks to the expertise and experiences you've acquired is a wonderful sensation. In the end (if everything is in line with the plan) you will have the ability to win more clients and earn more!

However, the money you could earn through freelancers is a maximum threshold. You're only one person, and can only put in just a certain number of time per day. It is feasible to go through months in which the client-well has seemingly shut down, generating less more than you anticipated.

We're here to share with our readers the solution to the two questions mentioned above, namely diversifying your streams of income.

Skip ahead:

Why Diversify?

Diversifying income streams simply means creating money in several places.

In the instance of Kim Kardashian, this looks as if she is negotiating Instagram deals with companies, operating the company of shapewear, being on a reality TV show and possessing a variety of properties. For us who are living at the mid-point of the income range, it might look like being a full-time worker and doing freelance work on the side and being a bartender for a part-time job However, you may as well be flipping pieces of furniture in order to earn money in your free time.

Diverse income sources can shield you from uncertainty that could result from losing a big client, becoming sick, economic downturn, getting smaller clients or whatever affects the income you earn from some or all of the sources.

Here are a few ideas to diversify your earnings earn from freelance work. It's not all-encompassing list, but there are some successful and proven strategies to begin by.

Make an eBook or another Digital Resource

You're an expert in your area. It means you've got important insights and experience that you can share with other people.

Making a downloadable resource will require a lot of time once it's been finished, and gives you a library of data that you can use on your blog or social media pages as well as other places. As an example, as an individual copywriter, you are able to create an ebook on crafting great conversion copy. It's a fantastic resource for anyone who wants to enhance their skills and can also provide an income! It's an all-win.

Are you unsure of where to begin by reading an ebook? Check out these helpful sources:

Begin your online class

Now that we've proven the fact that you're an authority in your particular field (or what else could someone not pay for your services? ?!). It's time to share your expertise with your audience!

It is possible to charge one fee for each online class or bundle them together for a more affordable cost, or set up a monthly membership or subscription, or even share exclusive higher-priced content in your community of learners. There are a myriad of possibilities based on your chosen method of commercialization.

These articles will assist you in your journey:

You may coach other people in your field

There are many people similar to you as you did at the beginning of your business or profession working as a freelancer. Individuals who require advice from someone who knows their field, is aware of the specific challenges they confront, and has practical ideas that can help them reach their goals more quickly.

There is no formal credentials or training requirements for coaching. This is the perfect method to earn money sharing your expertise and helping others in the process. Whether you coach about how to improve your skills in a specific field or how you can start your own online business completely self-funded is entirely up to you. Perhaps it's a combination of both!

Some resources that could be utilized to start which are as follows:

Leverage Social Media

You're already a reputable professional, you're an independent contractor working with customers, and you're competent to prove it! You just have to build that following!

Here are some useful resources to help you get going:

Doesn't have to be perfect

Diversifying your streams of income isn't a science. The methods listed above are a great place to begin, but there are many different ways to diversify as well.

The key is to be flexible and not put too much pressure on your self. The only way to succeed is to get started!

If the thought of taking an online class sounded attractive to those of you...

This is the perfect opportunity to give it a go!

We've joined forces with an entire platform that can help you create, market & sell your courses online to be able to access the Black Friday waitlist. When you sign up to join us, you'll get first access to the amazing Black Friday deal, that will comprise live training on how to make your very first video course , and on creating an engaging community, and much more!

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