Last updated on Jul 8, 2024

What do you do if your income as a self-employed Agile professional needs diversification?

As a self-employed Agile professional, you might find your income streams fluctuating. Agile methodologies, which focus on iterative development and customer collaboration, are highly sought after in the tech industry. However, even with a skill set that's in demand, relying on a single source of income can be risky. Diversification is key to financial stability, and there are several ways to achieve it. By expanding your services, investing in continuous learning, and networking effectively, you can create a more resilient and robust income portfolio.

1 Expand Services

Consider broadening your range of services beyond traditional Agile coaching or project management. You could offer training workshops, write about Agile practices, or consult on Agile transformation strategies for organizations. Each of these services taps into different market segments and can help stabilize your income. By expanding your offerings, you're not only diversifying your income but also showcasing your versatility and expertise in the Agile field.

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Ifetola Agbesanwa

Technical Founder 👨🏽💻 | Driving Digital Transformation and Online Positioning for Businesses through Web Design, Branding, UI/UX, and App Development | Founder at Maitech & TrIQ | FI Alumni (Founder Institute) |PMP®️
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Start by offering a variety of services beyond Agile coaching, such as training workshops, speaking engagements, or writing articles and books on Agile practices. Thanks to the digital age you can also create online courses or webinars to reach a broader audience. Look for consulting opportunities in different industries where Agile methodologies can be applied. Networking is key, so attend conferences, join professional groups, and connect with potential clients through LinkedIn. Additionally, consider partnering with other professionals or agencies to expand your reach and services.

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2 Learn Continuously

Stay ahead in your field by continuously learning new skills and obtaining certifications. As Agile methodologies evolve, so should your knowledge and abilities. This could mean learning about complementary frameworks like Scrum or Kanban, or deepening your understanding of scaling Agile for large organizations. By doing so, you increase your value to clients and open up new opportunities for income.

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3 Network Effectively

Networking is vital in the self-employment world. Attend industry conferences, join Agile user groups, and contribute to online forums. These activities increase your visibility and can lead to new client referrals. Networking isn't just about meeting new people; it's about building relationships that can provide support, advice, and business opportunities.

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4 Diversify Clients

Aim to work with a mix of clients from different industries and of various sizes. This approach reduces the risk of financial instability if one sector experiences a downturn. Working with startups, mid-sized companies, and large corporations exposes you to different challenges and learning experiences, which can enhance your professional growth and income potential.

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5 Passive Income

Develop passive income streams related to your Agile expertise. This could include creating online courses, writing e-books, or developing tools and templates for Agile practitioners. Passive income can provide a financial cushion and allow you more freedom to choose projects that align with your interests and values.

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Mohammed Rafi

Associate Consultant at Capgemini | Software Tester |
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To survive with one income it's very difficult these days. Having a secondary income source will always be helpful when you require money. Building a passive income will be easy when you are aware of the sector that you are planning to cater. Instead of diving right into what everyone does, it's better to find a niche or the area in which you are expert. Passive income should fund your passion rather than relying on primary income source.

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6 Risk Management

Finally, manage risks by having a financial buffer and insurance for your business. Unexpected events can disrupt your income, so it's wise to have savings set aside. Professional liability insurance can also protect you from potential legal claims. Risk management is an essential part of diversifying your income as it ensures you're prepared for the ups and downs of self-employment.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What do you do if your income as a self-employed Agile professional needs diversification?

1

2

3

4

5

6

7

1 Expand Services

2 Learn Continuously

3 Network Effectively

4 Diversify Clients

5 Passive Income

6 Risk Management

7 Here’s what else to consider

Agile Methodologies

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What do you do if your income as a self-employed Agile professional needs diversification?

1

2

3

4

5

6

7

1 Expand Services

2 Learn Continuously

3 Network Effectively

4 Diversify Clients

5 Passive Income

6 Risk Management

7 Here’s what else to consider

Agile Methodologies

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