One key takeaway from my speaking gig at TravelCon was that, like me, all the most successful travel content creators are not just doing one thing; they’re doing all the things. In 2019, it’s not good enough to just be a writer or just be a photographer, you have to be everything. OK, maybe not everything, but you have to be a lot of things if you want to take your business to the next level and build a sustainable career. Making money as a writer—and good money, I mean—has become increasingly more difficult in the online era, but it’s not impossible.
By the way, you still have a couple days left to buy the TravelCon virtual pass if you’re looking to further expand your entrepreneurial endeavors through blogging and beyond. Over the weekend, I’ve been catching up on several of the great talks I missed on turning your blog into a veritable business, several of which have helped to fill holes in our own model.
And if you’re someone who is just scraping by on the bare minimum, or you value lifestyle over career, then girl, I admire that work-life balance, and you keep doing you. Making money in the increasingly competitive, fake and sinuous realm of digital media is not for everyone, and finding that happy balance of continuing to grow while having a plethora of free time to pursue passion projects is something I definitely plan to incorporate more of in the future.
For years, I’ve been tracking my annual pay and how it ebbs and flows and (mostly) increases year after year, as well as categorizing it by percentage to see where our various income is coming from so I know where best to direct our attention year after year. Maybe this is the year I finally share those charts and graphs in Lola Akinmade fashion; regardless, I wanted to put to bed this myth that our business model is blogging (a part of it is, but hardly the whole pie). When SVV went full-time with me at Odinn Media three years ago this month, this extensive charting of our work became even more important, because now we’re both self-employed and relying on supporting our lifestyle and saving for our future without one of us having a guaranteed paycheck to fall back upon should work dry up (it never has, but it’s always the freelancer’s ultimate fear). We have to make sure we have money to pay our quarterly taxes (self-employment tax is a killer), as well as contribute the maximum allowed to our SEP each year. It’s a whole different level of adulting, I’ll tell you!
That said, to give you a better idea of what we’re working with, this year we’ve made money through:
- Traditional journalism (print magazines, online outlets)
- Content campaigns through the blog
- Media consulting
- Influencer campaign management
- Professional speaking gigs
- Teaching workshops
- One-on-one coaching or consulting
- Sponsored social media posts
- Licensing photography
- Video production for CVBs and chambers of commerce
- Brand copywriting and ghostwriting
- Graphic design work and website management
- Repurposing blog posts for visitors’ guides
And there are so many more ways we could be monetizing that we aren’t: affiliate sales, e-courses, e-books and advertising networks like MediaVine. (Side note, but have you ever noticed this website is ad free? We both feel like the Internet is teetering on the edge of one massive seizure with the overwhelming nature of banner and video inserts, but that’s a story for another day.) I firmly believe in finding a few avenues where you excel and focusing on those things first, rather than trying to do everything at once. As Kiersten Rich (aka the Blonde Abroad) said at TravelCon: “Don’t put all your eggs in one basket, but also don’t put an egg in each basket.”
In an industry that’s constantly in flux (and often in turmoil), we’ve always found it’s best to be fluid and nimble, rather than dictating the direction our business will take in any given year. Take 2016 and 2017, for example. We had a handful of clients on retainer and we managed various facets of their marketing as part of that agreement. Back then, we thought that was our future: all consulting and very little project-based work. But times have changed once more, and the blend is richer and more fulfilling. And, while I prefer the former to the latter for job security, we’ve learned to adapt to circumstances on the ground; chameleons, we like to call ourselves.
So how do you diversify?
You lean into your skill set. Are you good at photography? Hone that skill and start selling imagery. License images commercially or focus on B2B. Set up a print shop. Bang out some headshots for friends, family shoots, kid and pet portraits. There are so many ways you can use a creative skill beyond traditional publishing. Don’t have an eye for visuals? No problem. I posed this question to some fellow veteran journalists in one of my writing groups and they added they make money through: coaching (in person, online and/or in groups), copyediting and proofreading, research, recipe development, teaching, book editing, web development, UI/UX consulting, college essay coaching, resume editing, online community and social media management, tour guiding. The possibilities are endless, the point being that first you need to identify attributes that you are good at and have a marketable skill or talent, then work on being the best you can be in that arena.
You prioritize. I do keep a written day planner—this $20 version is the one I’ve been using for years—but in addition to that, every Sunday, I create a bullet point list on a legal pad (talk about old school!) and list the items I’d like to do in descending order of importance. I also like to reward myself with a “fun” task or two (like video or photo editing) after finishing a laborious one (like a research-heavy magazine article) so I don’t start to feel bored doing the same thing day after day. I’ve found by saving tasks I’m excited about for later in the day, it incentivizes me to get the more mundane tasks done first so I can get to the things I consider the most fun.
You outsource tasks that are going to save you valuable time that can be spent elsewhere. For us, that’s some of our social media (Pinterest management and Twitter and Facebook scheduling) and our own design and development for this website. Could we do all those things? Sure. But in the past few years, I’ve been leaning heavily into subcontracting work out to other professionals who do this work for a living, thus freeing up my time to tackle projects I’m more passionate about like writing and helping DMOs steer their media strategy. Similarly, when we started getting a demand for more video reels, I didn’t have time to teach myself Premiere Pro, so I turned to a professional—Eric Irvin of One Eyed Pop—and asked if he’d consider teaching me. I would much rather pay someone to school me than waste hours of frustration trying to learn the intricacies of a new-to-me, complicated software on my own. At the time, he didn’t offer coaching, so it was a new potential revenue stream for him and a time-saver for me; accordingly, Eric now has started offering one-on-one sessions to other content creators (which I highly recommend if you’re wanting to dabble more in video!).
You take direction from your industry. Rather than sitting around waiting for others to test out the next big thing, take initiative of your own. Look at other bloggers like the Blonde Abroad and Alex in Wanderland who have found their niche in organizing tours geared toward women to places like South Africa, Thailand and Egypt that solo travelers might be scared to visit alone. And they’re both killing it. While I don’t have the time or energy, and perhaps not the right audience, to adopt that model, I completely admire these fellow entrepreneurs for chasing a whim, testing it out and not only finding it works, but also quickly expanding those offerings to truly capitalize on the group travel model. (And if you’re a female looking to go on a fun tour with a lot of awesome ladies, check out the upcoming Wander Women tours. I’m considering Alex’s Egypt one in the future! Who’s in?) Similarly, Gemma Armit and Laura Lynch of Make Traffic Happen slay with SEO courses; I am a member of their Facebook group and have also purchased one of their courses. In this day and age, what blogger couldn’t use guidance through the sticky web of SEO? They identified a big need in the industry, and they ran with it.
You consider teaming up with a fellow entrepreneur with a complementary skill set. Last year, we partnered with a photographer and career coach to lead a week-long workshop for entrepreneurs in Portugal, and it was really interesting seeing how our three approaches to business all helped steer our students’ paths. Similarly, we’ve been getting sent some pretty big RFPs to run marketing for DMOs, and while neither of us has any desire to veer into PR territory, we have a good friend who dominates in that arena and have been batting around the idea of combining our agencies to chase bigger contracts that are a bit more than SVV and I can bite off as Odinn Media. (It’s just the two of us, though we have a roster of subcontractors to hire depending on the project.)
You look in your own backyard. Some of our work has cropped up because people locally need help: with their websites, with their marketing plans, with designing signage for an event. These are all things that, while they may not be the main source of our business, are easy enough for us to accomplish, and we help out fellow business owners or non-profits who may not have had anyone else to handle critical facets of their marketing. Win-win.
You follow leads. Let’s call the print media industry what it is: flailing about in open water, trying desperately to touch the murky bottom, but constantly slipping beneath the surface, occasionally bobbing its head above the water to gasp for breath, then quickly going under again. While I still write a handful of print stories a month assigned by editors for whom I’ve been working for a decade or longer, I turn down a good 75 percent of the editorial work I’m offered due to the declining pay and increased time it takes. Sure, I could have continued to write 30 stories a month like I used to, but that wasn’t a smart business decision in my case. Instead, I do a select five or six that pay better than most and devote the rest of my time to more lucrative gigs or projects rather than writing round-up drivel for content farms.
Zoom out on the above, and this approach took SVV and me each to a comfortable salary once we diversified beyond just writing, blogging and photography, and each year we set benchmarks for the next; some years, it’s increasing our overall income by 20 percent, while this year, it’s giving even more back to the community (we’ve aimed to raise $50,000 for public art installations and are making a pretty good dent in that goal halfway through the year).
Blog aside, in the past eight years, we’ve started three companies: Odinn Media, our media production company that specializes in tourism marketing; a real estate group to manage our investment properties and assets; and DMA-events, our for-profit, public-benefit corporation through which we funnel our mural program and community events. (We also had a now-defunct events company through which we ran KEEN Digital Summit in 2013.)
Our model isn’t perfect—and like I said, it’s ever-changing as we adapt to the times—but it has helped us to continue to grow, increase our income and our assets, and be more valuable as marketers and entrepreneurs.
Have you diversified your business? What was your breakthrough to doing so?
Any follow-up questions for how we’ve done this, drop them in the comments! And for more entrepreneur posts, start here:
- Want to Be More Hirable As an Influencer? Take These Tips to Heart
- Has Your Instagram Engagement Tanked? Here’s Why You Shouldn’t Care
- 11 Lessons from 11 Years of Blogging
- Why I Don’t Work for Free—and You Shouldn’t Either
- So You Wanna Start a Blog? Here’s How