10 Ways to Diversify Your Creative Income (and Why You Should)

Written By Jason Conway

Creatives making a career in the arts are no stranger to the feast and famine cycle. In the early days of building their business, creatives alternate between being overwhelmed by work and worried about a lack of cash flow.

Streamlining business processes, improving marketing, and charging higher rates are three tips you’ll commonly hear for making the busy times less hectic and the lean times less lean. However, this advice doesn’t address the underlying reason why a creative’s workload is so cyclical: a lack of diversification.

When all your income comes from one type of project and client, it’s only natural that it all hits your desk at approximately the same time. So how can creatives diversify their income stream to create sustainable year-round income? Here are a few ideas. 

Pick Up Freelance Work

Freelancing is a great way to fill the slow times as an early-career creative professional.

Do your day job on the side

Countless creatives start out in a day job while doing art on the side. Now that art is your full-time career, why not put those skills to work for extra cash? Reach out to former clients or list your freelance services online to find gigs. 

Become a brand consultant

The demand for branding specialists is surging as companies seek new and creative ways to tell their brand stories. A full branding process takes at least 4-12 weeks, however, some branding freelancers focus on just one aspect such as logos and style guides.

Start a side business

As your freelance services take off, consider launching them into a full-blown side business. Whatever your talents and skill set, it’s entirely possible to be your own boss, but you’ll need to check off a few boxes at the very beginning. One of the first things to do is decide how you’ll operate in a legal sense; that is, how to choose the right business structure. Operating as a limited liability company (LLC) is popular for many reasons, including receiving tax advantages, so do a little research and sign up with an online formation service to make the process easier.

Host classes and events

Hosting arts and crafts workshops is a fun way to put creative talents to work. Even small classes can be profitable with a low-cost space like your home or a community center.

Create a Passive Income Stream

Establishing passive income streams requires more strategy and effort up-front, but the payoff is long-lasting.

Create prints from original art

Print-on-demand turns original work into prints, stationery, pillows, shirts, and other consumer items. Print-on-demand services like Society6 facilitate sales and fulfillment so there’s minimal work for the artist.

Sell graphic & web design content

There’s a strong demand for graphics, fonts, photos, illustrations, and website themes online. Marketplaces like Creative Market and Freepik make it easy to get content into the hands of paying customers.

Sell digital courses and downloads

Do you have knowledge to share? While a lot of work to create, online courses, e-books, guides, and tutorials generate both income and engagement with your brand. 

Monetize Your Following

If you have a large and engaged social media following, use these tips to leverage it as an income stream.

Create a membership site

Paid membership sites give loyal followers access to exclusive content and online communities. Freemium pricing models are a popular method for building a paid membership community. 

Start affiliate marketing

You don’t need a product of your own to make money off your brand. Affiliate marketers recommend products and receive compensation when followers take action on their promotion.

Become a paid influencer

Influencer marketing is another way to cash in on a niche following. Social media influencers make money through sponsored content, affiliate marketing, being brand ambassadors, and collaborating on product lines.

A consistent income and manageable workload are key to succeeding in the creative business, but you won’t get past the feast or famine cycle if you’re focusing on just one source of income. Use these ideas to diversify your income and achieve sustainability in your creative career.

Visit Steel Jackdaw magazine for unique articles that celebrate the power of creative expression!

Article by Nicola Reid.

Jason Conway

I'm a creative guru, visionary artist and eco poet based in Gloucestershire UK.

I love designing Squarespace websites for clients as well as providing a full range of graphic and website design services. My clients are passoinate entrepreneurs that are making a positive difference in the world.

Clients can hire me for brand and marketing strategy, content research, content writing and content management, social media training and management, blog and article writing, book design, book cover design, self publishing help, packaging design and sign design.

I'm a creative coach helping passionate and ethical business owners to create sustainable businesses geared for a healthy work life balance and helping to break through blocks and regain or maintain focus. I use creativity as a key problem solving tool and motivator.

As an artist is create inspirational works of art for private and corporate clients, from full size wall graphics and installations for offices, conference areas and receptions, to cafe's and restaurants to health and wellbeing centres. Any wall or space can be transformed with large scale art, which is a key motivator for staff and can reduce work related stress. I also accept private commissions for paintings, sketches and illustrations.

As a published poet I write about the joys of nature and the human devastation of it. I also write poems for brands and businesses to engage their audiences in new and more thought provoking ways.

https://www.thedaydreamacademy.com
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