Collaborate Crafting. I draw something then Ava Blu accessories it and makes it look beautiful.
Archive for the ‘Making it’ Category
I have recently been playing around with adding more textured backgrounds to my illustrations. So I spent a day just creating some backgrounds the old fashion way. I used the covers of old books as the canvas and adding some paint and paper to create texture. It felt really good to roll up my sleeves and get my hands dirty. I need to take the time to do this more often.
Posted in Making it, tagged art licensing, artfire, change, etsy, Exit Strategy, freelance, illustration, launch, living expenses, money, passive income, royalty, saving, small business on February 6, 2009| Leave a Comment »
Everyone needs one. The problem is figuring out what mine is. Folks seem to recommend you save anywhere from 3-6 months of living expenses before making the switch.
Time to start crunching the numbers. It’s really unfortunate that I live in such an expensive part of the country. For 3 months worth of savings I would need 20K and would need 40K for 6 months. I’ve never been really good at saving and it seems like sooooo much money and a little unreachable. Though I’m sure it’s the smart and prudent thing to do.
If I’m able to put away and save $400 a month (a reasonable number that I think I can achieve) by the end of the year I will have only saved $4800. So at that rate it will take me 8 1/2 years to save 40K and a little over 4yrs to save 20K.
I’m not sure I can wait 4 years never mind 8. So how much more time do I wait until I take the leap? I’m leaning toward just setting a “launch” date, and asking my employer if I can reduce my hours to a 3day work week . Hopefully this will be an option. Of course, that would also mean a salary reduction. Having a steady gig while trying to continuing to build up my illustration and licensing business is a compromise I think I’m willing to make.
Experts also suggest that you also create a way to have a passive income. I haven’t quite landed on what that is yet. However, I know that I want to try to set up a Etsy and ArtFire shop, and I think that once I start getting a few more art licensing contracts with royalty agreements this will also help.
So what’s my Exit Strategy?
- Start Saving, starting now.
- In a year reduce my work week down to 3day.
- Continue to build my business in the evenings and weekend.
- Start to create a passive income by getting a Etsy and ArtFire shop up and running.
It feels good to have at least an outline of a plan!
I wrote this post last night and got in a fight about my plans to reduce my hours. (Not quite the support I was hoping for, but pretty much the reaction I was expecting.) Hubby asked ” So, your just going to ask them to cut your hours?” — Well yes! I think that’s at least that’s going to be the first step and if they can’t agree to that then I think I will look for something that’s part-time. Financially we will HAVE TO make it work. I’m not sure yet how, but I need to have more time to spend on my own work and desperately need to make a CHANGE! (this shouldn’t of been a surprise to him.)