Michelle Jackson had been working as a student at a Colorado university for a decade when she realized she had been burned. The program she worked for was exponentially developed: By 2014, she was responsible for 600 students per session.
“I had panic attacks. I was worried. I was tired. I was alone. “It was bad,” he says. He gave the university a four-month warning. Two days after his official resignation, he flew to Hawaii.
And he began to rethink how he wanted to make a living. “I’ve seen people make money online and I was really interested in that,” he says. He had already started writing a money blog, earning about $ 15 here and there as a freelance writer. So she decided to expand her efforts, combining a range of Internet-based activities that would give her flexibility and professional autonomy.
The “proud” Gen Xer, Jackson, who returned to Colorado, now has nine different revenue streams, from which he earns between $ 5,000 and $ 7,000 a month. “I like to keep things different, because it keeps me mentally weird,” he says. Plus, “I do not like all my eggs in one basket.”
See how Jackson was able to create and manage so many sources of income.
Makes “a steady amount” of affiliate marketing
Under her personal funding brand, Michelle is Money Hungry, Jackson hosts a podcast and writes blog posts on topics such as the FIRE movement, setting financial goals and shopping in Black companies.
Both podcasts and blogs make money through affiliate marketing. Jackson will include a link to a specific company on her blog or podcast name, and if she motivates people to click on the link or subscribe to the company’s services, she gets paid.
“I do not tone down” with affiliate marketing, he says, “but I make a steady amount” anywhere from $ 50 to $ 1,000 per month.
Writes independently “to build my brand”
In addition to her blog, Jackson contributes independent personal finance articles to sites such as Experian and Business Insider. While “I like the flow of revenue” from freelancing, she says, she prefers to visit her blog and podcast: “It’s very appropriate, to build my brand.”
Her monthly income from freelance writing varies. “It’s about $ 5,000 a month,” he says. “Enough.” Proposing, writing and editing articles in different editions requires a lot of time and communication and “I do not want to deal with too many people,” he says.
He has written 12 e-books
In July 2018, Jackson entered the world of writing and selling e-books. Her first book was The Epic Guide to Going to Colorado, and she has since written 11 more novels and fiction.
From July 2018 to February 2020, Jackson earned nearly $ 13,000 in book sales revenue. Although it is a technically passive income, there is still work to be done, he says, such as marketing books and publishing more to build repertoire.
Last year, in 2020, it proved difficult to develop its e-book efforts. “I didn’t have the ability or the creativity or the energy to do it,” he says, but dives back into writing this year. When she actively traded her books, she earned $ 100 to $ 2,000 a month from book sales.
Sells a course “Make money with e-books”
With a wealth of knowledge on the subject, Jackson sells a course called “Make Money With Ebooks” at Thinkific, which allows teachers to create entire websites for their classroom.
“Make Money With E-Books” includes 11 chapters on finding the right place for an e-book, uploading it to a site like Amazon, marketing and so on. Jackson sells the course for $ 347.
While the money he earns from the course is also a technically passive income, running the course requires offering office hours to the students. It does not take much time, however: “Usually, I will work one hour a month,” he says.
Video by Stephen Parkhurst
“My income was initially reduced,” but it was worth staying in class
Jackson also earns money by leading entrepreneurship, sponsoring content, creating branded partnerships and giving speeches.
Now that it has created diversified sources of income, he says, it feels more economically viable than ever. No need to worry about layoffs or a significant reduction in income, even when having a difficult time during a pandemic.
Jackson warns that anyone hoping to diversify income streams may not make money right away. “When I started to diversify my income, my income initially dropped,” he says. But because losing one or two revenue streams at a time is no longer a huge blow, “2020 was not an issue at all.”
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