Diversified Income Streams for Creatives: How to Pay the Bills without a Day Job
Read Time: 8 Minute
Hey there, sunshine!
Do you know how most people rely on that steady paycheck from their job? Well, we creative types tend to beat on the walls of that box until it breaks. Our spicy minds can struggle with the rigidity of traditional employment. I know I do! Others look at me with wide eyes when I explain I make my living from my business, plus a temp gig, babysitting, and writing. And sure, my Google calendar looks different every single day but that’s what inspires me! Freedom to follow my passions wherever they lead. That’s the type of life I want to share with every fellow creative because it’s so, so, so much more fulfilling than being a drone.
Breaking free is the goal and diversifying income streams is the name of the game. It's how we find financial stability while ditching the mundane corporate grind. There are countless exciting ways for creative professionals to diversify, from creating cool merch to educating others or even playing landlord (ethically of course)!
Let's dive right in and explore seven fantastic ways for creatives to earn their keep:
Licensing your Creative Work
Licensing your existing creative work to others can be a fantastic strategy to increase your passive income. If you’re like me, you may not have heard much about this. It involves granting permission for others to use your intellectual property, like artwork, music, or written content, in return for royalties. Honestly, it’s really the ultimate income diversification strategy because it exposes entirely new audiences and markets to your work.
Protecting yourself and your creations is extremely important when it comes to licensing. It’s best to rely on a legal professional to ensure your property is protected in contracts which makes this strategy a bit less accessible. Still, it can be a profoundly lucrative avenue to explore.
10-Second Launch to Profit Plan:
Leverage existing and create additional high-quality, creative content
Build a portfolio (highlight your range and versatility)
Identify target licensing opportunities (Businesses, publishers, and organizations with potential markets your work will be in demand at)
Protect your work and understand the licensing contract
Manage licensing agreements (Keep detailed records and continuously seek new opportunities)
Expand self-promotion & e-commerce or join an agency
Potential Target Markets:
Visual Artists = Printing & Merchandising (cups, shirts, notebooks, etc.) or digital publications
Musicians = Films, Commercials, or Video Games
Writers = Online or Print Publication, Translation, Adaptation into Film & TV
Designers = Fashion Collections, Branding, or Consumer Products
Photographers = Stock Photo Libraries
Crafters = Mass Production
2. Thrive as a Freelance Artist and Consultant
Whether the motivator is stale branding, an impending holiday, or simply a lack of fresh ideas - there are always opportunities for your creative skills. Putting yourself “out there” as a resource to fill those needs opens the door to a world of variety. Something fellow ADHD’ers are probably desperate for, right guys?!
Freelancing has been a great side hustle for artists for many years which means there’s endless information online to guide your entry. Plus, sites like Upwork, Fiverr, and Freelancer allow you to easily create a profile and provide a platform to meet and connect with clients. It’s a great low-cost option to get started.
The beauty of building a successful freelance business is the freedom to chase projects that inspire you and make you forget to eat and pee (the ultimate tell of a love what you do at work moment). You also have the luxury of setting your own schedule so you can fit these tasks in around existing work or family responsibilities.
10-Second Launch to Profit Plan:
Select a niche (digital illustration, portraits, logo design, etc.)
Build a portfolio (can be a 1 page website, PDF, or even Google Slides)
Establish pricing structure (cost + labor + profit % goal = price)
Set up e-commerce (Fiverr, Shopify, Upwork, etc.)
Create an online presence (social media, blog, or newsletter)
Promote & Network
Offer referral discount program
Potential Target Markets:
Graphic Designers = Logo Design, Branding, & Marketing Collateral.
Copywriters = Blog Posts, Website Copy, Marketing Materials, or Social Media Content.
Illustrators = Book Covers, Children’s Book Consultation, or Editorials.
Artists = Murals, Art Curation, or Custom Installations.
Web Developers = Site Troubleshooting, Website Optimization, or UX.
3. Merchandising and Selling Art Online
If you want to showcase your creative talents in tangible ways, merchandise is the way to go. Whether it's prints of your artwork, custom-designed apparel, or unique accessories, this approach brings your art to a broader audience and strengthens your connection with fans. Taking the plunge into e-commerce is necessary to keep up with modern times and establish stability.
It’s important to nail your personal branding in this space and ensure that your quality standards are being met. Take time to vet potential vendors and be mindful of pricing to ensure that you are making a profit while keeping your prices accessible to your fans. It’s a great idea to partner with other small businesses whenever possible because what goes around comes around.
An indisputably successful artist, Iris Scott, was featured in Forbes magazine at just 34 talking about diversifying her income by selling prints of her original work. She highly recommends building up a team and outsourcing where you can. “Every hour I was pulled toward that print shop, it was pulling me away from printing. “ A passionate project manager like the team at Prismatic Growth helps connect those dots and keep you focused on your passion.
10-Second Launch to Profit Plan:
Define a Niche (select a style a medium to sell, focusing on what makes it unique)
Create High-Quality Examples (Ensure these are ready to sell)
Set up an Online Store (Etsy or Shopify are great places to start)
Develop a Brand (Source a logo, color palette, and an artist’s statement to tell your story)
Promote Online (High viewership goes to behind-the-scenes content)
Participate in Art Communities (Local and online in groups)
Potential Target Markets:
Visual Artists = Selling Painting, Prints & Sculptures
Printmakers = Screen Printing, Linocuts, or Etching
Crafters = Selling Jewelry, Ceramics, or Woodworking
Designers = Templates or Digital Assets
4. Empower your Art through Patronage & Crowd Funding
Crowdfunding has helped artists make big projects happen for years and keeps them deep in ramen and art supplies. You can build a consistent source of income, similar to a paycheck, thanks to patron-based income. I highly recommend this path for anyone and everyone who can achieve it because these funds stabilize your finances, allowing you to focus on your creative projects.
Using a platform like Patreon, a community of your friends, family, and fans can gather in the name of supporting you! Offering sneak peeks into your process, exclusive content, and even special merchandise can incentivize followers to take the plunge and make a monthly pledge to support you.
An added bonus of building a community invested in your talent is the option for regular, reliable feedback. Creatives as a whole tend to hold back from sharing anything until it’s perfect. The truth is, most things can benefit from an iterative process where feedback is given before you get to perfect. That way can create what your audience wants and ensure that you aren’t left feeling like sales are hopeless. Not to mention, it can pull you out of a rut having a team behind you with encouragement on the ready,
10-Second Launch to Profit Plan:
Set Goals (Determine what you want to earn vs. time invested)
Plan Tiers and Rewards (Figure out what each tear will get as a perk)
Prepare Content before Launch (Prep a backlog of exclusive content including early access and special creations)
Create a Pitch (Needs to compel potential patrons. Should explain your creative journey, why you need support, and what they can expect. Don’t be afraid to show emotion!)
Set up your Page (Patreon is a good choice with easy setup)
Engage with your Patrons and deliver on your Promises
Potential Target Markets:
Visual Artists = Exclusive artwork, Process videos, and Personalized Commissions
Writers = Early Drafts and Exclusive Blogs, Stories, or Poems
Musicians = Access to Songwriting Process, Live Performances, or Personalized Recordings.
Crafters = Detailed Tutorials, Project Plans, or Homemade Goods as Gifts.
Graphic Designers = Templates and Exclusive Designs
Cosplayers = Costume-making Tutorials and Early Reveals
5. Selling Online Courses for Creatives
It may not always feel like it, but chances are you’ve spent a lot of energy becoming an expert at your craft. That wisdom and experience are valuable and the internet has democratized knowledge in beautiful ways.
One of those is a kickass passive income source all about helping others (an energizing work task). Taking your unique style and harnessing it into an online course is a fantastic fit for those with a knack for teaching. Courses can be customized to match your personality - whether you are a wordsmith, hilarious on camera, skilled with animation, or simply hyper-focused-level interested - there’s an audience waiting for you.
Establishing yourself as an authority in your industry helps grow a supportive community that will assist in funding your true passion projects. Your course can be created once and sold in perpetuity! That inches you one step closer to the financial freedom your muse is craving.
10-Second Launch to Profit Plan:
Identify your Expertise (Research demand and competition in Niche)
Define your Target Audience (Identify as specific as possible who you want to help)
Plan Course Content (Think about modules, lessons, and learning objectives. Also, consider formats like videos, written material, quizzes, or assessments)
Set the Right Price (Base off competition when possible. Consider what makes sense; one-time fee, subscriptions, or tiered pricing)
Market the Course (Consider offering a free mini-course)
Focus on Support (Address your student’s questions and build additional content)
Potential Target Markets:
Artists and Illustrators
Graphic Designers
Photographers
Writers or Authors
Musicians
Crafters
Dancers or Choreographers
Actors
Event Planners
Web Developers
6. Monetizing your Space & Tools by Renting
Do you have a studio, specialized tools, or equipment that other creatives might need? You may not have considered it yet, but renting out those valuable resources is an excellent way to generate income when you aren’t using them. At the right price, it can be a win-win situation that benefits you while allowing a fellow creative to access something they may not be able to afford full-time.
There are several platforms online that allow you to create listings. The more high-quality your photos and descriptions are, the more attention you will garner. Ensure you’ve covered your bases on price by making sure to increase your insurance coverage and budget for the additional maintenance needed. Don’t be afraid to ask your customers for reviews to maximize your legitimacy.
10-Second Launch to Profit Plan:
Research the Market (Check our demand in your area and the competition’s pricing)
Cover your Bases with Insurance
Create a Professional Listing (Don’t skimp on high-quality images & descriptions)
Register an Online Booking System
Plan for Maintenance and Cleaning
Offer Great Communication & Support
Ask for Reviews and Feedback
Potential Target Markets:
Photographers = Studio Space, Lighting Equipment or Cameras
Artists = Studio Space
Filmmakers = Cameras, Drones, or Video Editing Facilities
Musicians = Recording Studios or Rehearsal Space
Crafters = Specialized Tools & Equipment
7. Boost Earnings with Affiliate Marketing & Partnerships
Another easy entry, well-traveled path is side hustling with affiliate marketing. Basically, this is when you partner with a brand or business to promote their products for a small commission on sales. There is an extremely low barrier to entry and it could be a great opportunity for those who have already cultivated their online presence.
The key to not turning your channels into a nonstop #ad is to be picky and partner with businesses you already enjoy instead of just who is offering opportunities. Trust me, you’ll kill your following promoting things that you have no passion for. Your supporters have faith and you and can benefit your finances as a result if you don’t abuse that trust.
10-Second Launch to Profit Plan:
Research Affiliate Program (Focus on the products/services you are already using)
Create Content (Could include blogs, videos, reviews, tutorials, or just posts)
Follow Guidelines to Promote Affiliate Products
Track Performance (Pay attention to what is worth your time)
Potential Target Markets:
Bloggers & Content Creators
Artists & Designers
DIY Crafters
Musicians
Writers
Conclusion:
As you can tell, diversifying your income streams is the key to financial stability without the limitations of a traditional job. By relying on multiple income streams, you’re better equipped to weather financial fluctuations and maintain your creative freedom. Please let this post inspire you to think outside the box and explore new avenues for your creative business. If you’re looking for support figuring out a game plan or keeping yourself accountable to it, I would love to help! Reach out to me here to get started on your journey to financial freedom!
