It’s one of my favorite expressions — having multiple irons in the fire. I’m not an ironworker or blacksmith, but a freelance writer and author. If I don’t have multiple income streams (21st century jargon for the same idea), I’m toast.
Now that one-third of us work permalance or as independent contractors or whatever you want to call people who leap from lily-pad to lily-pad to keep their bills paid, making small bets across a variety of disciplines, projects, clients and borders is now business-as-usual.
Even if taking risks makes us feel a little queasy emotionally (What if I fail?), we know it’s also necessary. By definition, not every project, no matter how well-planned or funded or filled with enthusiasm will succeed. Some will sag like an old balloon or blow up with bang in our surprised faces.
But taking mini-risks remains essential to creative growth. So, every day, like so many others now do, I call and email people across the country, and across oceans, looking for ways to boost my income, add to my network of smart, hardworking, ethical people and see what shows up next.
A new book, “Little Bets”, by Peter Sims, addresses the reality every creative self-employed person must face: you’ve got to keep a pile of irons in the fire at all times. Some will be red-hot, others stone-cold. But as long as you have a dozen or so, (call it Plans A-L), you’ll be fine.
Some of these low-level risks, the little bets, won’t turn into anything. But, with luck, persistence, re-tooling, timing…a few will.
In my decades as a writer, several of them self-employed, I’ve seen this firsthand. I rarely panic about where the money will come from to pay my bills — and my monthly nut is four figures — because I am always exploring new avenues, making new connections and sealing a deal or two.
I’m not wealthy. It would be nice to worry much less and much less often, about money. But I have to be honest enough to admit — I enjoy taking (small, measured) risks.
It’s ironic as hell to me that, by taking a low-wage, low-status job working as a retail sales associate in a suburban mall, a desperation move to shore up my income, I may have opened more and better and much more lucrative doors than anything I’ve ever done in my life. By taking the risk of losing my clutch on middle-class life, wearing a plastic badge and folding T-shirts, I began to see many things more clearly, and wrote a book about what I saw.
Here’s The Wall Street Journal review of Sims’ book.
Tell me about the mini-risks you’re taking, your own little bets…