Secret 11: Create Alternative Streams of Income
Steve Slaunwhite
 
As a freelancer, there’s a practical limit to how much money you can make plying your trade in the traditional way. Even if you’re well established in your particular category and command top rates for your freelance services, your income is restricted to the hours you’re able to spend on client work. When you’re not writing, designing, creating, advising, or whatever it is you do for your clients, you’re not earning income.
That’s not necessarily a bad thing. After all, if your average hourly rate is $75 per hour (based on being a project pricer, of course, as recommended in Secret 7), and you’re able to keep yourself booked solid with client work, you’d be earning about $80,000 per year. Not bad!
But what if you want to earn more? Or make that same amount of money but work fewer hours so you can spend more time with your family, hobbies, and other interests? Can you make money as a freelancer without having to punch the clock?
The good news is, you can raise the freelance income ceiling and even shatter it altogether. And it doesn’t involve doing anything outside your area of professional interest. (No, you don’t have to sell your DVD collection on eBay!) In fact, all the alternative income strategies discussed in this chapter are a natural extension of your current freelance business. They capitalize on what you already know and do well and, in most cases, are more about picking up money you’re unintentionally leaving on the table rather than starting a new enterprise.
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