Of course, becoming solely self-employed is not as easy as it sounds and for me, I'm not sure I'm ready or want to make that jump yet. I'm happy being self-employed but I don't think I could ever give up teaching, it's a passion and a financial security blanket for me. But if you're thinking about heading down this route then keep reading because I'm going to talk you through some of the pro's and con's of becoming a full time blogger.
Making a steady income does not happen overnight.
Building a successful blog can take time. Some niches take longer than others to build because they have smaller audiences. You can’t expect to start a blog and make enough money in the first month to quit your job. Heck, I've been doing this for six years and it's only recently that I've thought that this could even be an option. There are many, many people who start a blog and then quit out of frustration that they're not getting where they want to be in terms of making money. With blogging, you have to be realistic and be prepared that it could take a while to build your audience.
New Financial Habits
If I was to become a full-time blogger and it was my sole income, lots of my financial habits would have to change. Becoming self-employed can lead to a number of amazing opportunities - you're not limited as to what you can make annually - unlike if you're in a salaried job. There are some months when I genuinely think, you know what, blogging is bloody good money, this could be my sole income. Then there are the slow months. When the work dries up and my inbox is looking very empty - I'm then brought back down to reality. When there are times like this, I'm very thankful I have continued in my teaching career. Saving become's a bigger priority when you're self-employed, and this can be easier said than done. We all know that everyone should save, but that can be really hard when you have no idea what is coming in each month. For many, they decide on a percentage of their earnings that they need to put away for tax and savings and the rest is then their wage. It's important that this is something you agree and stick to so on slower months you have something you can fall back on.
Long-Term Planning
As a teacher, my pension is something I don't spend too much time thinking about. I know what I pay into it each month and how much I'm expected to get once I reach retirement age and I'm happy with that. However, if I was self-employed I know it would be far more complicated. Many won't have the luxary of owning their own home, which can be used to fall back onto when they're older, (Sunlife has some great information about this) and other's will have to ensure they have enough savings to cover rent once they reach retirement. All of this involves planning, dedication and being strict with your long-term goals.
Treat It Like a Business and Not a Hobby
If you approach your blog like a hobby then you treat it like a hobby. You write occasionally, you send out emails from time to time, don’t bother with networking, and hope that money magically appears. To make this a successful business then you need to put your business hat on. This means that you should be posting frequently and consistently, sticking to a schedule, networking and investing your time and money wisely.
Efficiency
I constantly wish for more hours in the day, but perhaps that's because I effectively what two full-time jobs. For me, the only way I can make that work is working efficiently. You can get suckered into one area of blogging, perhaps designing your logo and then you've lost days, weeks doing anything else. Prioritise work, make sure you focus on the whole picture. There are so many different tasks that need to be completed than just writing articles;
Respond to emails
Respond to comments
Send out emails
Take photos
Promote on social media SEO content
All of these things take time and energy, some require more than others. But this is where blogger burnout becomes a reality and a sense of being overwhelmed can get the better of us. Being organised and on top is key to being a successful blogger.
I would love to wear your thoughts on becoming a full-time blogger, is this something you have done? What have you found to be the key to success?
K Elizabeth xoxox
*In collaboration with Sunlife.