As many of you in the online writing world know, a number of us were displaced due to the unexpected closing of the Yahoo! Contributor Network. When one door closes though, another one always opens. Many former Yahoo writers, including me, have already found new writing homes and haven’t missed a beat in generating continuing income. Unfortunately, others are still trying to replace this most needed source of revenue for their household.
There’s a lesson to be learned here for those of you who are new to freelancing, a lesson that many vets have continually tried to convey – that is, that it’s important that you diversify your income streams. Whether this means to always be in a circumstance that you’re working for multiple clients, that you’ve created a number of passive revenue sources (books, ebooks, writing for revenue share sites, having monetized online writing properties), or that you might even have an offline part-time gig or two on the side, it’s important that you understand that you must always have a mindset to diversify.
If Yahoo had been my only source of income when they announced their closing I would have literally been washed down the drain because even though they may be turning their interests to other projects, my financial obligations still require a source of income to be fulfilled.
Take the time today to research at least two other potential income streams that might be a good fit for you, develop a plan to get started with them, and actually work your plan. And then like those of us who had the wisdom to know that we couldn’t totally depend on Yahoo, when your day comes, you too will one day be able to dodge your own bullet and shrug your shoulders and say, oh, well, when one door closes …
Writing sites that I recommend:
Write W.A.V.E Media (of course!)
*Photo: F Delventhal via Flickr
Her writing interests include technology, health and fitness, medical, religion and spirituality, cars, Jeeps, Internet, digital and social media, and lifestyle.
"Wordsmithing is the spice of life." ~A.L. Woods