Some of the best advice I ever got was not to put all my freelance revenue eggs in one basket.
In other words, the more reliable streams of income I can create for myself — the more pies I can put my fingers in — the better. None should be reliant on the other. Each should equal not more than 25% of my whole profit margin. If it goes away, I have 75% or more to hold me till I can replace it.
An example would be having enough audiobooks that I get a regular check from ACX on my royalties + the monthly retainer check from a car dealer + a residuals deposit from SAG-AFTRA for all the union work over the years, and so on.
There are revenue streams outside of voiceover work to be sure, and one of them is to be an affiliate for an app, or a publication, or a software program, or an equipment vendor. What’s an affiliate? As someone who refers a product to someone else through relationships, you get a kickback from the seller for help in distributing their product.
‘Just another revenue stream that can become quite lucrative (or sometimes not).
Just a couple of days ago, someone from Diggity Marketing noticed a blog I had written about Freelancer Security, and asked if I might want to use some new research they had just released on the Best Affiliate Networks of 2020.
Another revenue stream idea:
In reference to another article I had written called “We Are Not Alone“, the folks at “Small Revolution” wondered if I might help share the info they’d recently compiled on the Definitive Guide to the Virtual Assistant Salary. I’ve used a number of freelance Virtual Assistants through the years to good effect. In a certain respect, voice actors themselves are virtual assistants, and as such, you should be aware of decent compensation levels to be maintained.
Finally, in line with the current boom in podcasting, an article I had written a few years ago, is STILL getting notice. It was called “The Ultimate Podcsting Resource“. But all these years later, it deserves an update from a Digital Growth Marketer who has recently written an exhaustive guide called: “How to Start a Podcast – Get Attention and Make Money“.
Just some ideas for building a better foundation for your voiceover business, which is REALLY what you want to do, right?