My 4 streams of income as an architectural designer (passive and active)
TLDRThe speaker, an architectural designer, shares their journey of developing four income streams beyond their day job. Initially disheartened by the modest earnings in architecture, they diversified into side hustles like freelance rendering, hand drawing, and photography, which significantly boosted their income. They emphasize the importance of multiple income sources for financial security and personal fulfillment, suggesting side hustles like website design, 3D modeling, and artwork for architects and designers. The summary highlights the benefits of side hustles for personal growth, early retirement, and entrepreneurial skills.
Takeaways
- 😀 The speaker initially had high expectations about architects' income but was disappointed after graduation.
- 💼 In the past three years, the speaker's side hustles have generated over six figures while working as an architectural designer.
- 🚀 The extra income from side hustles has had a significant impact on the speaker's life, allowing for more freedom and purchases.
- 🛠️ The speaker was inspired by entrepreneurial friends to look outside of architecture for additional income opportunities.
- 🌟 The first side hustle was rendering and visualization work, which was initially taken on as an intern and later as a freelancer.
- 🎨 The speaker discovered that their freehand drawing skills could be monetized, leading to a niche market with little competition.
- 🖼️ An Etsy store was started as a hobby and grew to offer over 500 products, generating a projected revenue of about thirty thousand dollars a year.
- 📸 Architectural photography became the latest side hustle, leveraging the speaker's skills in visualization and post-production.
- 💡 Starting a side hustle is recommended to diversify income and reduce reliance on a single source of income.
- 💸 The speaker suggests that having multiple income streams allows for more choices, such as working less and pursuing creative interests.
- 🏢 Side hustles can also serve as training for running a business, teaching skills like tax, invoicing, and bookkeeping.
Q & A
What was the speaker's initial expectation about architects' income and how was it different from reality?
-The speaker initially believed that architects make a lot of money, but was disappointed to find out that this wasn't the case when they graduated.
How much income did the speaker generate from their side hustles in the past three years?
-The speaker generated over six figures from their side hustles in the past three years.
What was the speaker's first side hustle and how did it start?
-The speaker's first side hustle was rendering and visualization work. It started unintentionally when a company they had interned with reached out for help as an intern.
How did the speaker manage to balance their full-time job with their side hustle?
-The speaker moonlighted during evenings and weekends, which was all the time they had due to not having many friends at the time.
What was the speaker's initial hourly rate for their side hustle and what did they learn from it?
-The speaker initially charged a nominal fee based on their estimated hourly wage as a regular designer, but later realized it was a mistake as they hadn't budgeted for tax, equipment, overhead, and profit.
How did the speaker's corporate job influence their decision to pursue side hustles more seriously?
-The speaker found their corporate job to be uncreative and not fulfilling, which led them to wonder if putting more hours into their side job could be a more fulfilling path with fewer hours and more pay.
What was the speaker's second side hustle and how did they leverage their skills for it?
-The speaker's second side hustle was freehand drawing, particularly pen and ink. They leveraged their childhood skill and passion for drawing to create a niche with little competition.
How successful was the speaker's Etsy store and what types of products did they offer?
-The speaker's Etsy store was quite successful, with over 500 different products and a projected revenue of about thirty thousand dollars a year. They offered hand sketches of cityscapes, iconic architecture, and national parks.
What is the speaker's latest side hustle and how does it relate to their previous passions?
-The speaker's latest side hustle is architectural photography. It relates to their previous passions as it overlaps with their skills in visualization and post-production in Photoshop.
Why did the speaker decide to diversify their income and what benefits did they find in doing so?
-The speaker decided to diversify their income to reduce the risk of relying on a single source of income. The benefits they found included having more choices to work less, pursue creative interests, and the possibility of early or semi-retirement.
What advice does the speaker give for architects and career designers looking to start their own side hustles?
-The speaker advises architects and career designers to start with their skill set and consider side hustles such as website design, photography, drafting and 3D modeling, rendering, creating artwork, or selling their time on platforms like Upwork or Fiverr.
Outlines
🏛️ Architectural Side Hustle Success
The speaker reflects on their initial misconception about architects' income and shares their journey of generating a six-figure income through side hustles in the past three years. Despite working as an architecture designer, they managed to earn an additional three to four thousand dollars every month, which significantly impacted their life. The video is set in Silicon Valley and is inspired by entrepreneurial dreams. The speaker explores opportunities beyond their day job, turning skills and hobbies into income sources. They recount their first side hustle, which began unintentionally after graduating from Cornell and moving to California. Initially, they charged a nominal fee for their services, but eventually found a reasonable rate that led to substantial earnings. The speaker also discusses their experience with moonlighting and the realization that dedicating more time to side work could be more fulfilling and lucrative. They transitioned to a flexible work arrangement, allowing them to pursue their side hustle further. The paragraph concludes with the speaker's exploration of hand drawing as a niche skill that became a source of income, both through client work and an Etsy store.
📈 Diversifying Income with Side Hustles
The speaker emphasizes the importance of diversifying income sources through side hustles, moving beyond the traditional model of steady employment. They discuss the risks associated with relying solely on a day job and how multiple income streams can mitigate those risks. The speaker's side hustles include client illustration and photography, which are active incomes, and an Etsy store, which has become a passive income source. They highlight the benefits of passive income, such as the ability to work less and pursue creative interests. The speaker also mentions the concept of 'lifestyle business' and semi-retirement, where one can work fewer days and have more time for creativity or family. They suggest that side hustles can serve as training for running a business, teaching essential skills like tax, invoicing, and bookkeeping. The paragraph concludes with a call to action for architects and career designers to consider side hustles based on their skill sets, such as website design and photography.
🎨 Exploring Side Hustle Opportunities for Designers
The speaker provides a list of side hustle ideas suitable for architects and designers, based on their skill sets. They suggest website design, using platforms like Squarespace, Wix, or Webflow, as a way to help others improve their online presence. Photography is another recommended side hustle, leveraging the visual skills of designers. The speaker also recommends drafting and 3D modeling services, technical support with Adobe or Bluebeam, and rendering as viable side hustles. They highlight the potential of selling artwork, such as drawings or calligraphy, through platforms like Etsy, Redbubble, and Printful, which allow for scalability and fulfillment without holding inventory. Lastly, the speaker suggests offering freelance services on platforms like Upwork or Fiverr. They conclude by reflecting on the personal growth and fulfillment gained from side hustles, encouraging others to explore these opportunities.
Mindmap
Keywords
💡Architectural Designer
💡Side Hustle
💡Passive Income
💡Active Income
💡Moonlighting
💡Freehand Drawing
💡Etsy Store
💡Photography
💡Diversify Income
💡Lifestyle Business
💡Upwork and Fiverr
Highlights
The speaker's initial disappointment with the income as an architect and the growth of their side hustle to six figures.
The impact of the extra income on the speaker's life as a young designer.
Inspiration from entrepreneurial friends in Silicon Valley to look outside the architecture industry.
The accidental start of the speaker's first side hustle in rendering and visualization.
The surprise of significant earnings from moonlighting and the realization of not charging enough initially.
The negotiation for flexibility in the speaker's corporate job to pursue side hustles.
The transition from 3D rendering to hand drawing as a side hustle due to increased competition.
The success of hand-drawn sketches through an Etsy store, highlighting a niche market.
The speaker's latest side hustle in architectural photography and its overlap with their skills in visualization.
The importance of diversifying income sources and the concept of having multiple streams of income.
The benefits of active and passive income, and how they differ in terms of scalability.
The speaker's online Etsy store as a passive income source and its evolution over time.
The idea of using free time for creative pursuits and the concept of a 'lifestyle business'.
The potential for early or semi-retirement with multiple income streams.
The side hustle as a training ground for running a business and learning essential business skills.
Suggestions for side hustles for architects and designers based on their skill sets.
The potential market for website design services among architects and contractors.
Photography as a side hustle and the advantages of having an architectural eye.
Drafting, 3D modeling, and technical support as potential side hustles for architects.
The scalability of selling artwork and the use of platforms like Etsy for prints and products.
The recommendation to explore platforms like Upwork or Fiverr for freelance architectural services.
The personal fulfillment and learning from side hustles beyond the financial rewards.