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When Kristin Addis quit her job as an investment banker in Southern California to travel the world in 2013, she had saved around $20,000 in cash and about $60,000 in off-limits retirement funds.
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"For a few years there I was living off the savings," Addis told Business Insider. "I remember it was the 11th hour, I had been on the road for almost two years, and I got a contract that was good for $600 a month guaranteed for one year. That was really the piece I needed. It still wasn't enough to fully cover my expenses, but it gave me a cushion to look for more work."
Since then, now 30-year-old Addis has stayed on the road, documenting her travels and supporting herself through her blog, Be My Travel Muse. In 2015, she spoke to Business Insider about her post-banking life, explaining that she was earning about 40% of her banking salary on the road. A year later, she's more than doubled her earnings and now brings in an income in the low six figures — just as much as she did as a banker.
Addis credits her business' growth to a few factors:
Owning her niche
Addis has been blogging for the past three years, and in that time she's made a point of dominating her niche: solo adventure travel for women. "Oneway to stand out and be different is to focus on a niche," she recommends. "Think about the things you're obsessed with — the things you would write about and read about and photograph no matter what. That's what you should do."
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Being smart about Google
When she first started her blog, she devoted time to Google keyword research that has since paid off. For instance, a lot of traffic comes through the posts she wrote about visiting Iceland, and she's finding her posts on Patagonia are picking up steam as well. Along with eyes, visitors coming through Google help her make affiliate revenue through promotions of useful, themed products like fleece-lined leggings and boots.
Outsourcing
One of the biggest differences between her business last year and her business this year, earning more than twice as much, is the size of her team, Addis says.
She employs five part-time, remote writers and assistants to help with everything from sorting through her email to writing posts in their own niches, like fashion, for which Addis has less expertise herself.
"They make the site a fuller resource, and that saves me a lot of time," she says. "It's been more about bringing people in who can help — that's been really great and helps me go off grid more. When I am home, it helps me to focus on the people around me even more. It's still a lot of work, but I'm happy to be doing it."
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Passive income
Addis has seen some of the largest income bumps through sales of her book, "Conquering Mountains: The Guide to Solo Female Travel," and affiliate product sales from her site.
"These are two areas I'm excited about because that's passive income," she says. "That's what I want to continue to nurture and grow." She recommends Pat Flynn's Smart Passive Income blog and podcast as a valuable free resource to learn more about setting up passive income streams.
Executive Editor, Personal Finance Insider
Libby Kane, CFEI, is the Executive Editor for Personal Finance Insider, Business Insider's personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money Insider readers already know and love. She holds the Certified Financial Education Instructor (CFEI) certification issued by the National Financial Educators Council. Previously at Business Insider, she oversaw teams including Strategy, Careers, and Executive Life.Her team at Insider has tackled projects including:• Women of Means, a series about women taking control of their finances• Inside the Racial Wealth Gap, an exploration of the causes, effects, and potential solutions of the racial wealth gap in the US (finalist, Drum Award, "Editorial Campaign of the Year," 2021)• Strings Attached, a series of essays from people who have left insulated communities and how that journey affected their relationship with money• Master Your Money, a year-long guide for millennials on how to take control of their finances (first runner up, Drum Award, "Best Use of Social Media," 2022)• The Road to Home, a comprehensive guide to buying your first house (silver award winner, National Association of Real Estate Editors, "Best Multi-Platform Package or Series – Real Estate," 2022)Personal Finance Insider also rates, explains, and recommends financial products and services.Outside of personal finance, she's written about everything from why Chinese children are so good at math to the business of dogs to hard truths about adulthood.In September 2016, she helped launch Business Insider Netherlands in Amsterdam.She also spent three years as a member of the Insider Committee, a cross-team focus group working on making Business Insider an even better place to work.She's always interested in research, charts, and people: new and interesting research, compelling charts and other visuals, and people who are willing to share the details of their impressive financial accomplishments and strategies.Before joining the company in March 2014, she was the associate editor at LearnVest, covering personal and behavioral finance.If you have something to share, please reach out to lkane@businessinsider.com.
