To answer this question, first I must dispel a tragic myth in our industry. That myth is: Unless you're making money at your "craft/career/art" you're a failure.
In other words, it's better to be a starving artist, living in your car, than to make money to support yourself as you pursue your dream. I had countless clients come to me at the point of bankruptcy because they refused to make money doing anything but their "entertainment industry" job. None of whom ended up telling their story on David Letterman. Being poor does not make you a better artist. It makes you a stressed out artist.
In order to maintain stability in a freelance industry, you must have multiple streams of income to sustain you and/or employ you when you're not working at your passion job. I know this is a controversial point of view. I imagine I'll be getting comments about why you can't have any other means of making money. Bring 'em on! I'll bet I have an answer to any argument you give me.
The only reason you would feel discouraged and the need to give up your dream during tough economic times is because you didn't financially plan for the tough times and now you're having money problems. If you want peace of mind and financial stability, you must plan for it the way any other person, freelance or not, plans for it.
It's never too late. Start with a curious attitude about multiple streams of income.
Part 2 tomorrow...
For more tips and articles by the Greenlight Coach, visit www.TheGreenlightCoachBlog.com