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March 4, 2024

Diversifying Income Streams as a Designer

How do you diversify your income streams as a designer?

As designers, diversifying our income streams can involve tapping into the myriad opportunities that the digital landscape presents. I have found success in not only taking on freelance projects which allow me to work directly with clients on a diverse range of briefs, but also in passively monetizing my work through platforms that sell design assets. Additionally, teaching has opened up a new revenue stream—by conducting workshops or creating online courses, I've been able to share my expertise and narratives with budding designers, which in turn has generated income and expanded my professional network.

Why should you diversify your income streams as a designer?

Diversifying your income as a designer is crucial for financial stability and professional growth. Relying solely on one source of income, such as client work, can be precarious, especially during economic downturns or periods of low demand. By cultivating multiple income streams, you can create a safety net that cushions you against fluctuations in the market. It also opens doors to new challenges and learning opportunities, ensuring that your skills remain sharp and relevant. Moreover, passive income sources such as selling digital assets or earning royalties can provide a steady income while freeing up time for you to focus on more creative or personally rewarding projects.

8 Income Streams I have as a designer

My Streams Diversified

1) Mentoring

The least amount of income that I earn comes from a mentoring service I run sometimes called Superpeer. It's not something I actively pursue but I just do it because it's fun and it feels good to help people. You could call it a side hustle.

2) Lecturing

Another source of income for me is lecturing. Sometimes, I serve as a professor at a university here in Spain. I do it not for the money, but because it's quite a cool thing to do and I enjoy it.

3) Tilebit: A SaaS Product

Next up, I recently launched a SaaS product called Tilebit. It's only been about 5-6 months, but it's doing really well. However, since it's only been up for half the year, it's hard to accurately represent it in the overall income pie chart.

https://www.tilebit.io SaaS

4) YouTube AdSense

AdSense is another stream of income. It's tricky to master — some people make a lot of money from it, while others don't. Unfortunately, I fall into the latter category, but it still accounts for a decent chunk of my income.

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5) Affiliate Commissions

Affiliate commissions come next. They work in a very smooth way and I'm a big fan of them. Whenever I make a video about a tool like Webflow, Figma, or Framer, I might say that if you use my link, I get a little chunk of the payment if you happen to go into a payment plan.

6) Sponsorships

Sponsorships have been very interesting this year. As my channel grows, I'm getting a lot more requests for sponsorships. I'm very selective with who I allow to sponsor my channel because I care about the information I'm providing.

7) Paid Collaborations

Paid collaborations are a nice chunk of the revenue as well. They involve other channels and creators paying me to create videos for them. It's an easy fit for me because I enjoy making videos.

8) Agency Work

Lastly, agency work makes up the majority of all the income that I've made this year. It's my cut from the agency, not the actual agency revenue which is significantly higher.

9) Future Plans

Next year, there are opportunities to build more streams of income. One of the primary things that I want to do is launch my own course and academy. I haven't officially launched my agency yet but that's also in the pipeline.

In summary, diversifying your income as a designer is not only possible but also potentially rewarding. It allows you to explore different interests and opportunities while also providing a financial safety net.