Owning a business in a highly saturated market is tricky.
Ask yourself these questions:
Am I constantly fighting to get consistent bookings?
During the slow months is it hard to budget accordingly?
Why is someone else on social media seem like they’re killing it?
Believe me, it has little to do with their talent or equipment. it’s all about their strategy, their marketing, their network base and their hustler mindset to get multiple income streams.
Do you know the age old saying, “Don’t put all your eggs in one basket?”
This is in context to people that are putting money in the stock market.
It’s not smart to have someone put $1 million into one company. What if that company falls through?
The best way to make sure your wealth grows, is to put it in different “baskets.”
After going on nine years of business- doing everything from wedding Photography for the majority of it, to families, to graphic design, the web design, to video and some marketing strategies- I can tell you firsthand that the freelance photography or design market is very hard to maintain a normal budget.
So over the years I’ve evolved from just doing freelance headshot jobs and logos here and there- to making this a full-time income with me being able to stay home with my kids and homeschool them.
How did I do it? I put all of my eggs in different baskets.
Basket one: “Bread and butter income”
This is income that you get on a consistent basis.
for me personally, I found that managing people‘s websites and social media accounts is consistent income.
I can guarantee every month with auto bill from several different small businesses all over the country
Do I want to wake up every morning at 7 AM and spent two hours on my phone posting for 10 to 14 different businesses every single morning? do I want to make over 3000 social media graphics a year?
No, not really.
But it’s consistent income for me and I’m good at it. And I’m able to work on my time and schedule.
I get so many calls for people that need social media marketing help, CRM management and website management.
Half of my monthly income comes from these clients that pay me to manage their stuff.
Basket two: “Freelance Income”
This is where I get the occasional logo job, the occasional family shoot or headshot job or the occasional website full design.
I usually get one every week which is only four times a month without even trying.
Most of these jobs come from the clients that I work with that talk about me to their people.
This isn’t my main source of income, but it’s nice to get out of the house, meet people and get some extra cash on the side from it.
Basket three: “Passive income.“
This is where you sell presets, books, e-downloads, courses and templates online, get stores with Redbubble and Society6 for free, or get an Amazon Affilate store rolling.
I have four online stores that sell my typography prints.
During the Christmas season I am able to pay for all of my kid’s Christmas presents.
Think about you as a freelancer or small business owner.
What are ways that you can expand your portfolio and put your “Eggs in different baskets?”
👉🏼Create an e-book,
👉🏼create a photography course,
👉🏼plan a workshop,
👉🏼sell your prints online,
👉🏼handle other peoples’ blogging and social media,
👉🏼be a retoucher or wedding editor during busy seasons for other people-
👉🏼there’s so many different ways to make income other than just doing photo shoots and jobs on the side.
What ways have you found to stayed booked?
Christal Marshall is the owner of Virginia Photos and Films, www.virginiaphotosandfilms.comwww.instagram.com/virginiaphotosandfilms
Virginia Marketing and Media www.ineedmybusinesstogrow.comwww.virginiamarketingandmedia.comwww.instagram.com/virginiamarketingandmedia
Virginia Beach Photobooth Company www.virginiabeachphotoboothcompany.comwww.instagram.com/virginiabeachphotoboothcompany
She lives, breathes and does media and marketing pretty much 24-7 for over 14 local business through social media management, website design, photo, video or media coverage or graphic design.
She is a homeschool mom of three, cat lover, sushi eater and poke fan! She started her business in 2011 with nothing but a $400 camera from Amazon, now she is has been published in over 60 different blogs and websites for her media work and rank top Wedding Photographers in Virginia