We share tips for making money as a freelancer here at Millo all the time. They include:
- upselling your design projects,
- generating passive income,
- specializing in a particular discipline or skill, and
- many many more.
But there’s one key to making steady money as a freelance designer that I fear I haven’t been very clear about.
It’s not that I’m trying to hide anything from you – I want you to be successful too! But it’s something that I have just kindof been doing all along and never really thought to talk with you about it.
So what’s my secret to making steady money as a freelance designer? I diversify my income.
Same ol’, same ol’
It’s really easy to fall into the same old routine as a freelance designer. You find a client. You work on a project. You get paid. And then you start all over again.
But if you want to make steady money as a freelance designer, you’ve got to think outside the box and find more ways to make some cash. And I mean lots of different ways.
A penny here, a penny there
I have actually gotten to the point where my side-ventures make me more money than actually doing design work. I make steady money from blogging (both here at Millo and for other bloggers who are willing to pay me), I make steady money from affiliate work, I make steady money from referring some clients to other designers, and I make steady money from many other little avenues of income.
And the little bit of cash I make from all of these different avenues (blog advertising, sponsored posts, paid writing, consulting, referrals, etc) bring in a significant amount of money each month.
Sure, I only make a little from each one of them every month. But since I have taken time to diversify, I have money coming in from many different places at once – and it adds up.
Don’t put your eggs all in one basket
See, here’s the trouble with relying solely on design projects as a source of income. What if your clients run out of money? What if you suddenly suffer a terrible accident and lose your site, or mobility in your fingers?
Heaven forbid any of these things ever happen to you, but what if?
If you only have one source of income and you lose the ability to milk that source of income, you’re in big trouble. You have zero chance at making steady income as a freelance designer.
How will you diversify your income today?
I’m giving you a challenge: Find a way to diversify your income and start making steady money as a freelance designer as soon as you can!
Don’t put it off. Don’t let it sit on your to-do list for months and months.
Find a way to diversify your income today and then share your decision with me in the comments of this post.
This post was originally published in 2011. It has been updated, revised, improved and reposted here for your enjoyment. Thank you.
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