Thursday, September 27, 2007

Creating Multiple Streams of Income for Your Consulting Business

If you've been in the consulting game long enough you know that it's "peaks and valleys". Some months will be great while other months will leave you looking under the couch cushions for spare change.

I recently subscribed to a blog feed at Freelance Switch and discovered a post on How To Create Multiple Income Streams. As consultants we need to have these multiple income streams to keep the dream alive. The work we do for clients generally creates the bulk of our revenue, however things happen beyond our control. Clients get acquired by other companies, their industry may experience a downturn or worse yet, they go bankrupt.

Multiple income streams help guard us against falling into these valleys that often seem difficult to get out of. The blog post at Freelance Switch offers many suggestions for multiple income streams that you, a consultant, can take on. From the list I have taken on a few and I know some TVCNet members have done the same, especially in the book category.

These streams of income don't happen overnight. Right now, mine are just a trickle or the occasional drip, drip, drip. With time I know that will change. Just remember a mighty river is often formed from a small stream.

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