I have always tried to have a diverse set of skills to use in finding work. I hate the old adage "Jack of all trades master of none." I try to master a skill before adding another to my arsenal. I think the phrase really applies to those people who try to do 100 different things, not 5.
I personally am first and foremost a professional musician. I have three degrees in music (composition, education, and performance). But even playing a lot of gigs it's almost impossible to make a living short of the top 20-30 orchestras. So about 8 years ago I started doing recording engineering, which has grown to become my main source of income. Photography started as a hobby, and then people started asking me to shoot events and portraits, so I ran with it (LF photography is a hobby though, but I'm trying to get involved in the local art scene). I also teach music and photography on the side as well as moonlighting as a computer technician.
Maybe some people can make it as a specialist but they've got to be lucky and in the right area.
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