Multiple streams of income and benefits for journalists ( 2)

Otufodunrin at a conference in Kenya

Media Career Development Diary (53)
By Lekan Otufodunrin

Multiple streams of income and benefits for journalists ( 2)

This is the second and concluding part of this write-up on multiple streams of income and benefits for journalists. In the first edition, I wrote about speaking engagements, part- time teaching, freelance reporting and research as possible means of making additional income.
I am aware that the options may not be as easy as they seem, but I have no doubt that they are worth considering and improving on them to earn more income than I did.
I will be willing to provide additional insights on any of the options if you want more clarifications. Send me mail through lekanagency@yahoo.com or call 08023000621.
Here are the five other options based my personal experience and other journalists.


Editorial service
Last year I was contacted by a Nigerian in the United Kingdom who wanted about over 20 hours audio interviews to be transcribed. I was not sure how to charge for the job until a young colleague suggested that we check what is paid for such service abroad on google.
We did and found that it could cost as much $0.75/min per minute. We had to come up with a moderate fee which we were not sure the client will be willing to pay. To our suprise, he gladly did and those I gave the job to, got paid for what they normally do free or at a much lesser amount.
Proof reading and editing of reports and other publications are usually paid for by some organisations and individuals. I remember proofing about 120 page report for a Non Governmental Organisation before
A colleague who contacted a magazine publisher about errors in his publication was hired as a consultant proof reader.

Publishing
I once had an idea of publishing a motivational newsletter for journalists. Because I couldn't afford the weekly cost of the publication, I opted to photocopy 100 copies of the two page newsletter and distributed for free initially.
The newsletter, Stop Press was well received and the Managing Director of a top media organisation gave me N10,000 as his contribution to sustain the newsletter.
I later compiled the newsletter content into a book for sale. The newsletter also resulted in request for trainings and the launch of the first sponsored Young Journalists Conference and award.
I have published for sale some other books based on my media career development work.
 As journalists, we know so much about the beats, issues and the people we report.
At a point in our career, it should be possible to publish a book or booklet on what we have reported for years that can be sold.

Blogging and online publishing
In 2000, long before the Linda Ikejis and other current Internet superstars started publishing online, I launched the Nigeria Online Christian News distributed through email and at a time had a full website and  other online platforms.

Linda Ikeji  Photo: extigate.com

Almost 15 years after, the later years online publishers are smiling to the banks while I am probably not known beyond my traditional media associates and a few others and make little or no income online.
The difference between me and the internet 'money bags' is simple. I lost steam along the line and have been comfortable with earning the income I can get from my traditional media jobs.
The new age online publishers are however wiser to remain consistent and earn as much as possible income through various platforms.
Asked how financially rewarding blogging is, publisher of ladunliadinews.com, Ms Oladunni Liadi In an interview with The NATION said " It is just like “yahoo yahoo scam.”
“The money just keeps coming in, and sometimes you say God, this is something I started like a ‘joke’. I just wanted my own voice, I just wanted to write. But today, the story is different. It has been very rewarding financially and I owe it to God.”
For her, advert patronage on the award winning blog is “where the real money is” in blogging.
It could sometimes take years before you start making 'real money' online with a lot of hard work and sleepless nights involved,  but what is sure is that there is additional income waiting to be made on the digital platforms if we are interested and learn the skills involved. ( I will write an expanded version of this point in another edition soon)


Advertising
With some newspapers offering as much as 30% commission for adverts, journalists cannot afford not to be interested in sourcing for adverts where they have direct links with corporate and individual advertisers. There can however be ethical dilemmas in some cases where some advertisers want editorial favours that should not be granted.
In many other cases, there are no strings attached and you can even earn from one full page advert more than a month's pay.

Speech writing
After posting the first part of this topic, I was contacted by a colleague who told me that journalists should also consider earning extra income from writing speeches for political office holders and others who regularly deliver speeches.
I used to have a staff who was hired as a speech writer by a state government.
The inauguration speech of late President Umaru Yar'adua was reportedly written by a Nigerian international award winning journalist.


Thanks for reading and sharing this edition with colleagues. I welcome your feedback on other multiple streams of income and and benefits for journalists I may not be aware of. Your specific experience will also be valuable to share with other readers.
If you have specific questions on media career development related issues , feel free to contact me.  Telephone: 08023000621, 08050498530: Email: info@mediacareerng.org : Twitter: @lotufodunrin: Skype: lekanskype: website : mediacareerng.org