Don't Put All of Your... (Part Two)

Photo by Ccharmon on Flickr

• Loaves in one bread holder
• Efforts in one website
• Cookies in one jar
• Supplies in one backpack
• Cars in one garage
• Horses in one stable

Okay. So, we all know that we shouldn't put all our eggs in one basket if you want to have a fairly consistent online income.

In the previous post, I mentioned that my only source of income was from freelance writing for only one client (Demand Media Studios).

I should be working on diversifying my freelance writing income, but instead, I want to focus on gathering other sources of income that aren't related to freelance writing. In this post, I will explore some possible new sources of income for me.

Freelance Work

One goal of mine is to take two classes to learn how to design websites with HTML. Once I take these classes, I plan to put my newly learned skills to good use by designing sites and blogs for other people. I think building websites for private clients in-between my freelance writing work will save me from burnout.

Unfortunately, I'm not very knowledgeable about web design. I have a feeling I will spend years practicing before I'll be able to create a website a client will be happy to pay for.

If I enjoy creating websites, I won't mind the long learning curve. On the other hand, if I don't really like web design, I'll probably move on to something else before I become proficient at creating websites.

Niche Websites

I definitely think that I have the potential to earn a few hundred dollars a month by creating niche websites. Of course, this will take a lot of work and effort on my part, but the mostly passive income will be worth it.

I'm not too sure when I'll get around to creating my first (well, second) niche website, but I'm hoping to start next month. Hopefully, I won't be so impatient about my niche website this time around...

Revenue Sharing Websites

Hubpages, Squidoo, and Info Barrel are three revenue sharing websites where users can post articles to make passive income. I don't really think it's a good idea to try making money on revenue sharing websites now because of the big Panda update, but it is something I"m constantly thinking about.

Perhaps I could post a few articles on these websites to get the hang of SEO before starting my first niche websites. If I experiment with keywords on these websites and fail, I'll only be out of a few hours of effort.

Even after writing this post, I'm still a bit confused about which stream of revenue I should experiment with first. I want to start creating niche websites, but I'm still thinking about other possible streams of income that I didn't mention above, such as creating and selling eBooks.