I’ve learned the hard way that having a backup or multiple streams of income is better than relying on one. I’m a piano teacher and I have many students that I teach weekly. Therefore, if one student quits, I have the safety of still having the rest of my students. I doubt that they would all leave me at the same time, so I think i’m pretty safe for now. And if one student quits, I would be on the lookout to fill that spot. I am also blogging on the side. I have four blogs that I’m currently building up. And they take almost all of my free time. I believe in having multiple streams of income. I remember the days where I only had one student and it was devastating when that one student quit. I also remember the days where I was flat out broke and had no money. It’s not that money is everything, but I can’t afford to have zero income right now. And I think it’s better to be safe than sorry.
Why do I have four blogs? Well, in the future, i’m hoping to monetize all of them. I know that blogging takes a long time, so i’m in no rush to do this. I think that it’s better to have lots of backups rather than relying on just one blog.
The reason why I brought this topic up was to discuss how it feels when one of my students decides to quit. It’s a horrible feeling, and the stress of having to fill that spot is even more horrible. And if I was solely relying on that student’s lesson fee for my income, I would be at a loss. Don’t do this. Make sure that if your boat sinks, you have another way of staying afloat.