In today’s episode, we talk about creating a steady income and not being caught up in the cycle of financial uncertainty whilst being a freelancer or a creative. So without further ado, let’s jump into the show!
Show Notes for This Episode:
[1:15] Feast or famine stress.
[2:30] Finding your one consistent client is so important for stability.
[3:20] Lisa talks retainers and steady clients.
[4:00] Permanent jobs seem boring but it’s steady work.
[5:00] Don’t turn your nose up to jobs you think you’re overqualified for.
[6:20] Hosting sites if you design webpages gives you extra monthly income.
[7:00] See ways you can extend your services beyond the job completion.
[8:00] Know your monthly number.
[9:00] Know your needed recurring monthly work to hit your overhead.
[10:40] Watch other industries to see how they increase return work.
[11:10] Dustin talks car dealerships and how they secure return business.
[12:00] Lisa was recently another creative’s return client.
[13:20] When you start something, think about what is next.
[14:00] See all the possibilities the future may hold.
[15:10] Market yourself when you’re busy.
[16:25] Building passive income.
[17:00] When passive income becomes regular income.
[18:00] Ian describes how it felt to see his passive income become a big deal.
[19:15] Dustin broke down passive income earnings by the day and then the hour.
[20:00] Understanding and calculating your hourly value.
[21:00] Dustin’s a-ha! moment in Target.
[22:00] Income predictability and work diversity.
[23:00] The more financially safe you feel, the more you can explore new avenues.
[24:00] Pitfalls of dealing with one big client.
[25:00] Play what ifs to find your business cracks. What if I lose this client?
[26:00] Ian finds multiple smaller jobs more secure than one large job.
[27:00] A niche can put you at risk if there is a sector collapse.
[28:00] Tom shares a friend’s experience who’s niche is hospitality.
[29:00] If your service is good, people will come back. Be a service superstar!
[30:30] Investments – the original passive income.
[31:30] The 8th Wonder of the World – compound interest .
[32:00] Reading homework: Google compound interest.
[33:00] Coronavirus is a form of compound interest.
[34:40] Money making money.
[35:00] Mr. Sweatband Man.
[36:00] The secret life of Ian Barnard.
[37:00] Ian visits Darth Vaders home.
[38:00] Dustin proposes an episode on their secret lives.
[39:00] Work on predictable income to built stability.
[40:00] That’s a wrap!
“A must for every creative freelancer (or those aspiring to freelance). Thank you for being so… honest! Such a wealth of information from people I admire who have ‘been there and done that’. Listening to the podcast every week feels like I’m among friends. Can’t wait for more episodes!” – AG_GD