Increase your channels is a simple wealth tip for a lot of us. However
I don’t need to be going back to the drawing board or anything with my strategy. But I do need to refocus on my goals, along with the where and how I’ll grow my wealth.
What Are You Doing To Increase Your Channels?
The biggest question to ask right at the beginning is what are you doing to increase your channels? After all, the first way to change is to look at what you have done thus far.
Looking over last month, my efforts have been pretty lackluster in some areas and good steps forward in others.
The first thing that’s important is to go over what my streams are in the first place and what have I been doing to boost them.
The First Is Medium
Medium.com is a great platform where writers are able to write, share ideas and thoughts that are unique, and get paid through their peers. As I mentioned in an earlier article for writers, Medium is great for both writers and readers alike.
While I’m not getting paid a whole lot compared to other writers, it is nice to be making some level of income from it. For a few months prior, Medium has made drastic changes and my income tanked.
What little I earned dropped down by 75 percent!
That’s part of the reason why I started to write this series, but also to boost my spirits up.
Clearly that worked as I got my recent statement from Medium with some pretty uplifting news.
Yeah, that’s right. I’m back to earning what I was getting paid originally!
It feels really good, but obviously I shouldn’t rest on those laurels.
The first big thing is how did that happen in the first place?
Part of that is to do with one article I wrote last month that got a fair bit of traction. It wasn’t posted on the front page, but it was enough to resonate with people.
So much that I got paid $24 for that alone.
Anyway, I determined that as long as I get a really good article like that one every month, I should be earning roughly that amount each month. Potentially more if some of my other articles gain traction as well.
That boils down to my own writing ability, dedication to research, and focusing on a topic that will bring people in. Not to mention it being on a topic I’ll enjoy writing too.
The Second Is UpWork
Upwork is a freelance site that I’ve been on since February and that has been where the bulk of my earnings has been coming from. It hasn’t been much since I’ve been favouring long-term relationships rather than one-off requests.
At the beginning of
This obviously cuts into my potential earnings as both jobs are roughly worth the same. Though the one I dropped didn’t leave much room to grow income-wise while my current client I feel has the potential.
Still, I’m taking a hit financially since I lack that other source. On top of that getting more clients doesn’t make sense at this point seeing as I was overworking myself with two clients.
Finally Is Patreon
When you want to increase your channels, some times you need to turn to ones you are familiar with. For me, that’s Patreon. Though I took action in implementing this last week, this has been in the pipes all last month.
I’ve decided to integrate Patreon into this blog and thus with my overall brand.
If you want to know how I did that, watch the video below.
In short, I’ve created a series of goals on my Patreon page where if I hit these goals, everyone benefits from them. Some of this is improving my own quality of life, but is also giving back to the community.
For example, the first goal is straight up more content that I’m creating for you guys every single week. I’m even open to suggestions so if there’s specific questions or topics you want to discuss, send me an email.
Other than this video, I have been working on putting it into various forms. I’ve mentioned this to my mailing list, as well as made an article including the video.
What Are You Doing/Going To Do With Them?
The second thing to ask yourself is to go back to those channels and ask yourself what are your plans with each stream. Are you keeping them? Improving them? Maintaining them?
This is all key to know when it comes to ways to increase your channels. Your overall attitude towards each determines how much you want to be focusing on specific aspects moving forward.
For me, my writing is taking a turn as I realize now there is a lot of potential for me in writing. I’ve enjoyed writing thus far, but last month felt good when I made $40 again. I’d like to get back up and outperform myself in that and I’ve been noting that in my goals where I’ve been wanting to publish more member posts.
For the record, if you’re not a Medium member you can still read them by visiting my Patreon page. I share friend links there.
I’ve also been writing on Vocal which also pays writers too. It’s not as much for me right now, but over time I have confidence I can make some money there too.
Upwork, on the other hand, I am slowly moving away from. Even if it’s the highest earning source right now, I’d like to work on others. I’ve said before that freelance is a band-aid fix to a financial problem. That being said, there is no shame in boosting my pay by asking if I can get paid more.
Lastly Patreon is something I want to be pushing more on in the future. Even in the light where these things will genuinely help you all, that doesn’t mean I can sit back and do nothing. I know better now that I need to remind people, ask, and convince others.
Even if what others are paying for is something that’ll help you.
What Other Channels Are You Considering?
The last piece to determine how to increase your channels is to consider what other areas are you considering. This is key because the only way to increase your channels is to find a stream that is doable, but also works well with everything else you have.
Whether it’s stocks, bonds, investing, a service, or a product, you’ll need to see how everything meshes together. Again it’s not as simple as finding an opportunity and dedicating time to it.
For me, I’ve got a few projects and they’re coming down the pipes at their own pace. A lot of what I’m focusing on are things that will pay me for months or years to come, but require up front work to do. Still, the wait will definitely be worth it.
Outside of those ideas, there aren’t other ones I have been considering. I believe right now the key is to grow my income up to a good $1,000. Right now I’m at about the half way mark so it’ll take some time to get there. But I think I’ll get to that amount by December, enough to kick off the new year with some good financial goals.
Increase Your Channels
My goals and intentions are simple and straightforward. They don’t need to be complex and finance doesn’t need to be complex either. At least for the time being.
Right now my goal is to boost my income as I’ve said before. A simple wealth plan doesn’t need to be elaborate. But a strong foundation is important to create a money machine and having multiple inputs never hurts.
So check your channels and increase your channels either in amounts or by the size of them.
To your growth!
Eric S Burdon