Building Multiple Income Streams with Freelancing
You can successfully turn your skills, ideas, and talents into significant income by providing a wide range of services, from web design to consulting to dog walking. The possibilities are endless!
One stream of income simply isn’t enough anymore. The world is too expensive, our tastes are evolving with each generation, and in order to get what we want, we need more resources. And if you’re perfectly happy with the amount of money you make now, imagine how many other people you could help if you made more. Money is important.
Freelancing is all about building a side hustle with a skill, hobby, or ability that you already have and monetizing your expertise
Now here are two really cool things about having a side business that most people don’t know:
1. You don’t have to quit your job if you don’t want to.
2. You don’t have to work double the amount of hours you’re already working in order to make two times, three times, or even five times the amount of money you’re making at your nine-to-five
That being said, you can absolutely start freelancing while working full-time and scale it up depending on your needs and preferences. Need to make a bit more money? Scale it up. Need more time for your nine-to-five or other creative projects? Put it on ice for a bit.
The take-home here is that it’s perfectly OK to help people with something and get paid for it, even if you are still developing a skill or you’re not an expert. All businesses are about problem-solving, which means that as long as you can help the person get results faster with you than without you, you deserve to get paid! You don’t need to be world class—just “good enough.”
- Freelancing is the bridge between your nine-to-five and true independence.
- Starting a business is not as risky as the media makes it out to be.
- The Three-Question Validation:
- -Is there competition in my space?
- -Are my competitors making money?
- -Can I do my idea differently and/or better?
- The marsupial method works best: Find other, more established businesses, and then create win-win-win scenarios that add value to their business, to their customers, and to yourself.
- Do free work and give incredible value.