Writing for Multiple Income Streams: the Benefits

Once you’re established as a freelance writer, you’ll feel great. You have clients, and you have an income. However, as I’ve said many times, you need to stop trading hours for dollars as soon as possible.

When you trade hours for dollars, it’s a job. Your income depends on the amount of writing you do each month. Once you’re paid for a piece of writing, that’s it. You’ve received all the benefits you’ll ever get from it.

Let’s look at some of the benefits you can get from developing multiple income streams.

1. Multiple Income Streams Increase Your Income Each Month

Information is valuable. When you provide that information, people pay for it. Therefore, you can sell information on just about any topic you care to research.

When you have multiple income streams, your income goes up each month. You did the work once. However, you’re paid whenever someone buys one of your products.

2. You Write Once, and Are Paid Many Times for Your Writing

This is the biggest benefit of multiple income streams.

Many more writers are discovering the pleasure of licensing their work. I started out as a novelist, and I was well aware that my income depended on how many copies of my novel were in bookstores, and how many sold. I knew that I would make money for many years from every novel I wrote, and later when I wrote business books, from every business book I wrote.

3. Security

As you create more products, your income goes up. It gives you a great feeling of security. You know that you’re not dependent on specific clients to be able to cover your bills. You also know that when you have additional expenses, the money will be there to pay for them.

4. Increased Name Recognition

When you sell products, you build your name. This increased name recognition is valuable. If you’re a completely unknown writer, it’s very difficult to get people to trust you. However, when you’ve produced many products, you are a known quantity. People are much more willing to hire you, and to pay you the rates you set.

5. More Freedom, when You Stop Trading Hours for Dollars

When you have multiple income streams, you’re much less reliant on the income that you receive from selling your writing services.

If several clients postpone their projects, instead of panicking, you can relax.

You can also cherry pick the writing jobs you want to do. With name recognition, you’ll find it much easier to get good writing jobs. Every product you create acts as a writing sample for you.

One of my writing students was recently hired to write a series of training manuals for a large company. She received several times her usual hourly rate for this project, and she was told she got the job because she was already selling several short reports on the topic.

If she hadn’t written the reports, it’s doubtful that she would even have been considered for the project.

These days, creating multiple income streams is laughably simple. For example, many writers are now selling ebooks on the Kindle platform.

Information sells. You have great opportunities to create multiple income streams. Take advantage of those opportunities because the benefits are huge.

Write It, Sell It. Then Lather, Rinse And Repeat… Make Money From Your Writing FAST

The online world is vast. Countless millions of people are online, and they’re looking for information on an endless variety of topics. You can tap into that huge market for information. Just create your own products FAST: you write once, and then you sell, pretty much forever. Create your own multiple income streams FAST– and keep doing it.

Discover how it’s done, with Write It, Sell It: Sizzling Success in 60 Minutes or Less — Fast Money from Easy Short Reports.