Many professionals turn into freelancers after getting sick and tired enough of the corporate world to escape the cubicle lifestyle.
Although happier and living more flexible lives, many freelancers fall into complacency as they get too comfortable in their routine, much like many corporate professionals do in their jobs.
In addition, while you might be living the dream of working as a freelancer, you are still trading hours for dollars. Sure you are earning more per hour than you did within the confines of the cubicle, but when you stop working, the money stops flowing in.
Newly turned freelancers may not be in a rush to take on more work, and I can totally understand that. After all, it is after a long time that you are getting to taste a little bit of freedom.
Life as a freelancer or contract worker can get very comfortable as you set your own schedule, work from anywhere you want and pick and choose the jobs you want to work on. Too much comfort however leads to complacency.
So if your goals are larger than your comfort level, why not use your spare time away from clients and contracts to establish passive streams of income?
If you are an application developer, why not develop your own idea and sell it? As a writer, why not write your own ebooks and sell them on your own website? If you can’t think of ideas, think about how your clients are using your work to their benefit. Why can’t you do the same?
Set aside a few hours for yourself each week to work only on your own ideas. It might take you a while to get a hang of things and materialize your ideas. Once you are comfortable with the process however, you can easily establish multiple sources of passive income over the years in parallel to working for your clients.