How to price custom work, how to diversify your revenue, and inspiration on balancing art and commerce from Andrea Tsang Jackson.
As longtime freelancers and business owners who've also had their fair share of "real jobs", we've always found it funny how banks consider salaries to be far more trustworthy than self-employment income.
Sure, a regular, reliable paycheque is nice. But if you lose that one job, you suddenly have zero cash coming in. (Other than EI or severance, that is. Thank you, foremothers and forefathers who fought for things like that.) When you've got multiple revenue sources, even if one disappears, the others help keep the lights on.
The same is true for any business. Not only is it a good idea to have more than one sales platform for products (be that in-person markets, wholesale, Instagram or Etsy), it's helpful to have more than one kind of product. Maybe you mostly sell wholesale jewellery but you also do custom work, or your primary good is greeting cards but you also teach illustration. This doesn't mean you have to do everything, nor should you. But diversifying can help your business stay stable through ups and downs and keep you engaged in your work, too.
This issue, we've got three stories on how variety is the spice of business, including a new piece on pricing custom work. We hope you find them helpful. And we look forward to seeing you at our next Show & Tell on February 7!