Occasionally, I feel like a broken record, encouraging writers and other freelancers to concentrate on building a business. I encourage all of you to build income beyond just straight writing, and not just because you can significantly increase your income that way.
It’s also a matter of security. There are times when freelance work just seems to dry up. The end of August, for instance, always seems a little quiet. I think half the world goes on vacation right now, if only to get in one last bit of fun before their kids have to be back in school. If you’re dependent on purely freelance income streams, though, any vacations your clients or editors take can cause you some financial difficulties.
Having even one other source of ongoing income smooths out the valleys and mountains in your income, making your financial situation a little more secure. You can make it through rough spots if you have something to fall back on.