Today I have a very special video. I am going to be breaking down my seven sources of income
as a freelancer that I've built so you can see how you can start to build multiple streams of income
for yourself as well. Now the way I'm going to reveal each stream of income each source of income
is in the order that I built it this way once again you can kind of see the natural progression
and flow of the different source of income that you can build for yourself. So to start off,
my first source of income is pretty much the ground level which is my earned income
from my digital marketing services from my Conversion Chasers LLC company. Now I built
this company as a digital marketing company and throughout the years I've really focused a lot on
search engine marketing and Google Ads in general and because of that I have worked on getting the
google ads partner badge and I'm actually a premier partner, so what that does is it
differentiates me from other Google Ads managers and companies because I am in the top percent of
managers that manage Google Ads accounts and I have to meet certain thresholds of optimization,
spend, new client growth, and client retention, so that's my first stream of income and from there
what I was able to do was move more towards a consulting type role so my second source
of income is being a marketing consultant. Wow the freelancing website upwork.com has helped me build
my personal brand as a digital marketer and as a consultant and as opposed to actually working
in the trenches working on Google Ads accounts every day and managing them
consulting is a little bit more high level. So I actually teach managers and I teach team
members at different companies how they should be going about their digital marketing strategy
and this is more of a zoom meeting every once in a while or it's me sending them reports and
analysis but that's my second source of income and that's kind of where I started to realize
that I can kind of turn all of the knowledge I have and I can start to offer multiple different
services as opposed to just having to work as the person who actually manages all my accounts
now from here that's when I wanted to try to figure out how I can get another source of income
in that was a little bit more passive and to do this my third source of income as a freelancer
is through affiliate marketing. Now affiliate marketing is a term that's thrown around so
much in today's marketplace but it's really very simple, you basically get paid when you are an
affiliate when you refer someone to sign up to a platform a service a software etc so for my
marketing company I use a lot of different tools to help all of the different analytics features
and help me make the best decisions so because of that I'm able to actually be an affiliate
for some of these software companies such as Call Rail. Callrail is an awesome platform it allows
marketers and business owners to track where their phone calls are coming from where their leads are
coming from and that helps them understand the attribution of what's actually bringing in money
on top of that it's really cool because what you can do is you can also start to track the entire
journey that the customer has taken so you can see what landing page they got to first from
what medium and then when they visited again and eventually when they actually called in
and actually made a purchase so having my clients sign up to that service and having other people
in the industry and other colleagues sign up for that is a way that I earn passive affiliate income
and that is a great progression once you start to work with a bunch of different tools
you're comfortable with them then that's when you want to go and be an affiliate for them. You don't
just want to jump into affiliate marketing to make money obviously that's the goal of everything
right in business is to make money but you want to make sure you're only being an affiliate for
companies and businesses and software's that you actually believe in and that you actually use,
this way it's a genuine relationship and you can actually be an affiliate for years and years to
come instead of doing what a lot of affiliate marketers do which is jump from one product and
one service to another and it's really easy for people to see through that that you know you're
just trying to get a referral bonus you're not really trying to help people but when you are
actually using the tools and everything that you're promoting that can really help you out.
Now on to my fourth source of income as a freelancer now that I have three sources of
income built I realized that I wanted to kind of go a little bit more high level and now that I had
all this experience over four years of experience with my marketing company working as a consultant
and really having a lot of success in the field, rising to the top three percent on Upwork,
I realized now it's my time to start to try to give back to teach people how I did this for
myself, now it would have been easy to just not do this because it takes a lot of time to build up
this stream of income and it's a lot of you know things behind the scenes that people don't see,
but what I did was I built an affordable online course which is now on the Zero to Mastery Academy
and that is 'The Complete Guide to Freelancing: Zero to Mastery', and what that course does is
it outlines everything I've learned on my journey from going from just having no experience at all
to being a top earning freelancer that has clients reaching out to me, and after I was able
to produce this course it wasn't like it started earning overnight, I had to really figure out how
I was going to market this course and eventually that is what led to my partnership with the ZTM
Academy. Now the reason I love the ZTM academy is that it is kind of similar to skillshare in
a way that you don't just pay for every single course, you pay a monthly or a yearly fee and that
gives you access to all of their content and they have courses that are being produced monthly new
courses released as well as new updates to courses in the past. So this is a course that I keep up
to date my freelancing course and on top of that they also have an awesome discord community with
thousands and thousands of people that all are on there to support each other and to keep learning
and to keep growing, so that's my fourth source of income which is through online core sales.
Now that I have these four sources of income built that's when I started to realize that I wanted to
actually go beyond just saving money and start investing the hard earned money that I earned
because let's be honest, inflation is at the highest period that we've seen
in our lifetimes for a lot of us and it actually is a little bit scary to just
think about all of your hard-earned cash in the bank is actually losing multiple percent a year,
usually it's around two three percent a year but with the massive inflation we've seen over
the last two years that's actually closer to six seven eight all the way up to ten percent
based on what study you're looking at, so in order to kind of beat inflation I started investing in
doing my research in stocks, ETF's and some cryptos. Now having a diversified portfolio
is crucial and not just buying into the hype of these meme coins and all of these different things
that you think are just going to go to the moon and get you rich quick,
that's not what i'm talking about here, what i'm talking about is capital gains through the sale of
very very reputable ETF's, stocks and crypto and what that has allowed me to do is not only invest
for my future but also create another source of income when I take profits, so you know you buy
low you sell high you take your profits when you set your different targets and that is another
source of income for me and capital gains is an amazing source of income especially if you
start early because what that allows you to do is get in at a better time and instead of trying to
time the market you are focusing on your time in the market and that has proven over the course of
the entire stock market to be the most beneficial thing because even if you just missed the top 10
earning days of the stock market you are going to be missing out on so much of your earnings,
so even though I do have a longer term investment strategy it is a source of income when I do feel
like taking profits and doing that by selling stocks, ETFs, and crypto. Now moving on to my
sixth source of income it is pretty much related to the last source of income and it is dividends.
So different stocks and different ETFs will pay you out a dividend on the basis that their
company has agreed to and the power of dividends is not just that you know it's some extra cash
flow coming in but the real power of dividends is when you start looking at the power of compound
interest and when you reinvest those dividends back into those stocks back into those ETFs that's
when you can capitalize on compound interest and you can really start to beat inflation and start
to grow your portfolio compound interest is one of the most underrated things that not a lot of
investors even realize is so powerful so instead of just pulling those dividends out and using that
to buy a coffee or something like that, it's so important for me to use that source of income to
also fuel my other sources of income and my other investment strategies. Now on to the seventh and
my final source of income I have right now and that is through my Profitable Freelancer brand.
So my Profitable Freelancer brand consists of my website profitablefreelancer.com which
has a blog that I keep up to date with a bunch of different in-depth articles to help people
for free. Now the way I make money off that is by allowing Google to actually run ads on the website
and there I get paid if someone clicks on the ad or sometimes bid strategies actually help
me get paid when someone just views the ad so that's another way I make income from Profitable
Freelancer and in the future what you're watching right now, my YouTube channel, I am very close
to getting monetized on YouTube, you need to have a thousand subscribers and 4,000 hours of watch
time in the last year. I'm right on the edge there so if you can please go watch some of my other
videos it'll really help me out on my journey to get monetized on YouTube and that will help me
put even more time into these videos even more energy into these videos so you as well can learn
how to be a successful freelancer and to build multiple streams of income just like I have.
So when I take a step back and I just look at my journey, I never would have thought a couple years
ago that I'd have seven sources of income, now of course some of them are much bigger than the other
ones but you have to understand something that every source of income is going to start out small
but if you do the most important thing which is you don't cut off your streams of income,
then you can start to build on one another and that's when you can start to really really have
success, but a lot of people don't do that that's one of the biggest mistakes I see is
that people cut off their first flow of income when they go to that second flow of income,
and then they cut off their second flow when they go to their third flow.
That's not what you want to do. You want to figure out how you can effectively manage your time,
get those first sources of income down pat and then move on to the next one. I hope this was
helpful just to kind of peel the curtain back show you as a freelancer how you can build
multiple thriving businesses how you can invest in yourself you can also invest in the stock
market and in crypto and you can still do this all while building other sources of income. My name
is Paul Mendes with Profitable Freelancer, once again if you like this video please subscribe,
hit the thumbs up button, it helps spread it to more people so they can see my content and