Most entrepreneurs focus too much on earning revenue from one or two activities (such as consulting and speaking) and overlook other opportunities that can help free them from trading time for dollars. Diversifying can simultaneously enable you to earn more and mitigate risk.
We need to think creatively about different ways to monetize our ideas or, as internet theorist David “Doc” Searls has noted, to shift from making money with something (such as when I was paid as a journalist to write articles) to making money because of something (when I began to write articles in order to attract speaking gigs—at ultimately far b...
I wanted to accomplish two things: to upgrade the clients I worked with to larger companies with bigger budgets; and to extricate myself from the ongoing press of day-to-day client responsibilities and develop a more location-independent business model.
Whether we work for ourselves or for others, we all need to find ways to diversify our revenue streams. That allows us to hedge against uncertainty, increase our impact, and earn more.
Reinventing You and Stand Out,
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