FREELANCING TIPS

The Importance of Creating Multiple Streams of Income as a Freelancer

Learn how to diversify and creating multiple revenue streams are essential for continued growth, peace of mind, and stability as a freelancer.

Every new freelancer has a vision of what freelancing will be like. This vision usually includes the optimal project and the perfect client, bringing in the right amount of money.

And when you start, you will often only have one or two different income streams, usually coming from your first client. It could be a short-term web-design project. Or, it could be an ongoing support agreement with a business.

This is great, but a freelancer who only has one client or one project isn’t a freelancer. They just have a part-time job. If this is all you want, that is fine.

But, if you want to grow your business and make this freelancing life work for you, you soon realize that multiple income streams are essential for long-term success.

Multiple income streams can mean many things, like having several clients, doing varied work, or investing in different lines of business.