Hey, besties! Today, let’s dive into an insightful topic that’s on everyone’s minds: how to diversify your income. This week we have a fantastic podcast episode featuring Dawn Charles, a seasoned wedding photographer who transitioned into various income streams. Dawn’s story is filled with both ups and downs, but it offers a wealth of insights into how you can safeguard your financial future. If you’re more of a listener, come listen to this conversation in depth on Spotify and Apple Podcasts!

Meet Dawn Charles

For those not familiar with Dawn Charles, she’s a talented individual who started her career as a wedding photographer. With over a decade of experience, she moved her business from Southern California to Oregon. After starting a family, Dawn began to explore other avenues for income, which led her to diversify in remarkable ways.

Why Diversify Your Income?

Before we delve into Dawn’s journey, let’s talk about why diversifying income is essential. According to Dawn, having multiple income streams offers a safety net. Imagine the photography industry facing a slump or an unexpected life event making it hard for you to perform your primary job; diversified income streams can be your financial lifesaver.

Dawn’s Income Streams

Photography Courses

Dawn initially ventured into offering photography courses. She leveraged her years of experience and expertise to create educational content that benefits aspiring photographers. If you’re in a similar position, consider packaging your knowledge into online courses!

Presets and Tools

Dawn’s next move was into selling presets and tools specifically for photographers. This was not just a way to make money but also a method to help her community improve their work. This is the perfect example of how you can add value to your audience while making money.

Affiliate Marketing

Dawn also dabbled in affiliate marketing. By recommending products she genuinely believes in, she earns a commission for every sale made through her referral. The key here is authenticity; only endorse products that align with your brand and are beneficial to your audience. Think about the things you truly love and how often you talk to your friends and family about them.. Imagine earning money off of things you naturally talked about?! This can be anything from business courses to your favorite Amazon Products.

Consultations

With her vast experience, Dawn provides consultations for upcoming photographers and businesses. Consulting can be a lucrative avenue if you have specialized knowledge and a willingness to share it. Though this isn’t for everyone, if there’s something you’ve built your expertise in, don’t be afraid to share it!

How Can You Diversify Your Income?

Identify Your Skills and Strengths

Firstly, take stock of your skills and strengths. Are you good at teaching? Maybe an online course is right for you. Do you have specialized knowledge in a particular area? Consider offering consultation services.

Market Research

Before jumping into a new venture, conduct some market research. Make sure there’s a demand for what you’re offering and that it aligns with your brand.

Leverage Social Media

Your social media platforms can be powerful tools for diversification. Whether it’s through Instagram carousels showcasing your presets or a YouTube video about your online course, social media can significantly boost your engagement rate.

Start Small

You don’t have to go big from the get-go. Start small, test the waters, and then scale up. Dawn didn’t jump into all these avenues at once; she took her time to explore each one.

Community Engagement

Always keep your community in the loop. Share both your successes and challenges. Your followers will appreciate your transparency, and their feedback can provide valuable insights.

So are you ready to start diversifying your income?

Diversifying your income streams is not just a trend; it’s a necessity in today’s volatile market. Dawn Charles serves as an excellent example of how you can leverage your skills and market needs to create multiple income streams.

So, friends, have you ever thought about how to diversify your income? I’d love to hear your thoughts and experiences. Remember, the road to diversification is a journey of continuous learning and growth!

If you’re ready to learn more- come listen to the podcast, scroll our favorite freebies, or shop our online courses + templates.

All images are from the Artificial Light workshop and edited with Eden Strader Presets.