Losing a significant income stream.

[naughtyfatkid]

Hello BBHF fam,

I'm quite sure this happens a lot in the IM world... Where you find something that brings in a lot of income and it suddenly dries up in a matter of months.

How do you cope with this scenario and how do you plan for the long term?

Let's engage a lot. Miss seeing the forum as lively as a month ago.

[Academica]

This is part of the life, just move along with your next project, do not freeze in the feeling of lose.

[California Kid]

don't put all your eggs in one basket. just because something works today doesn't mean it will work tomorrow obviously so when you finally have something worthwhile, don't just scale the shit outta it. find time to find another income stream as well. you're gonna have to learn to budget your time and money and resources

look.....even during the pandemic people couldn't count on their jobs. people were unemployed with a snap of the finger. did anyone prepare? most didn't. people become too dependant on the things that are out of their control and they get fucked in the ass. focus more what is in your control to provide security in the long run. usually fast and quick income doesn't last. the income that lasts is something that you built and that took a while to build

[HujeLeemon]

This is natural. Saving part of the earnings from a juiced income stream helps when the inevitable comes and you have to find your next source

[infoking]

You are certainly not alone. Most of the successful projects I have ever been involved had a very limited life span. There are a thousand reasons, but the reality is it is very common for things to fizzle out. I know this sounds corny, but my mom's old saying "strike while the iron is hot" is 100% true.
So, let me give you my most recent example of how I deal with this. Right now AI generated art is extremely hot. Midjourney and BlueWillow are growing as an extreme pace. I logged into bluewillow last night and nearly 700,000 users were online and it's almost unknown compared to midjourney. Clearly, the iron is hot and getting hotter.

This spells opportunity for us. I always try to think of something I can do quickly with minimum risk that could possibly result in a windfall quickly. When people are excited, they often throw money around without thinking about it too much. right away my mind turns to domain names. Keyword rich .com domain names on a hot topic can bring big money when people are excited about something. So of course I start out with the obvious aiart.com It's available for a cool 1.5 million dollars.

I don't know if it will sell for that much. It does give me confirmation a .com domain with AI and art has potential. So I start playing around with the idea. Of course almost all candidates have been taken. I say almost because I did find one.
In less than 30 minutes i purchased a domain that checks all the boxes. It is a top level dot com. It has AI and art keywords, very hot. It has one additional keyword that may not be super hot but is known, very short and doesn't take too much if anything away from the AI art theme. Ready for it?

I bought aiartplr.com for a few bucks and immediately put it up for sale.
Private label rights (plr) is well known in marketing circles. At this moment in time nobody that I know of is packaging AI art into plr bundles. Not yet anyway. But i looked at bluewillow's TOS and it is permissible to sell the art created on the platform. So absolutely nothing is stopping someone from starting a PLR ai art website. There is always a market for the done for you packages that can be resold.

I looked at this as a win-win opportunity. If I can sell the domain quickly for the asking price of a little less than $800 (and I think it is probably worth more soon)
then that would be great. If not, I will develop the site myself and take full advantage of the idea. I could always sell the site with the domain later. In the mean time, make some money of the site while it appreciates in value. I have learned my lesson about holding out too long. AI art will be like everything else. It's won't be sizzling hot forever. I hope this gives you some inspiration.