September 11, 2009

Income Diversification

I was reading my daily dose of ProBlogger this morning and Darren posed a question about how the recession is affecting your earnings. Well I thought about it and commented that the recession actually caused me to start blogging as a way to diversify my income. We all have heard the mantra don’t put all of your eggs in one basket… well, I figured a risky economy with so many people losing their jobs was good enough motivation to start blogging. Today is actually the four-month anniversary of my first professional blog (and by that I mean non-personal blog) and I’m nearing my one month anniversary writing for eHow.

Writing for eHow is definitely another step to my goals of income diversification. I’ve put in significant time there over the past 3-4 weeks building up a base library of articles and am for the most part pleased with my beginnings. There has been some issues with the writers compensation program and new members but I’m confident those issues will be worked out in due time. After all I’m starting my fifth month with HowToLiveA and I haven’t hit payout yet so I think I can wait a while longer with eHow.

Regarding the recession; I feel that building upon the income I derive from my day job my multiple income streams from online musings will help the financial stability cause that I bring to my home. This blog, The eHow Journey, I’m not exactly sure how I’m going to fit into the mix, nor am I fully sure what my goals for it are but for now I’ll develop it a little here and a little there. Maybe one day I’ll be inspired to take this blog in a specific direction and add it to my diversification mix. It does get me thinking though that even though this is a second blog and separate from eHow income derived from it will likely be derived from AdSense income which is not exactly a major diversification method seeing as though each online property is based significantly on AdSense… I’ll have to think about further diversification methods in the monetization arena of my blogs.

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