A lot of people wonder how much money they can make as a writer. It is not an easy question to answer because there are so many different ways to go about it. For some, being a bestselling author can lead to riches. For others, it means supporting yourself as a freelancer. It really depends on what type of writer you are and what type of books you decide to write. In this article, we will discuss some of the different ways you can make money off writing and how much you can expect to earn per week.
Traditional vs Digital Publishing
The publishing world has changed a lot in the last few years, and it has changed for the better. Gone are the days when a traditional ‘vanilla’ publisher will give you a check and ask you to put in a good word for them with your audience. Nowadays, the world of publishing is welcoming to independent authors and is embracing new ideas and new ways of working. The types of books that used to be big sellers no longer necessarily are. Thanks to the likes of self-publishing and social media, the pie is so much bigger and more varied than before. If you want to write and publish a book, you have so many options available to you.
Traditional publishers have adjusted their methods of operation, and as a result, it is now much easier for indie authors to get their work published. The digital landscape has created a world of opportunity for those looking to break into the field.
The Evolution of Self-Publishing
The idea of self-publishing has been around for a while, and it has gained a lot of popularity in recent years. Why? Well, for one thing, traditional publishers have had to change their methods of operation. Having to rely on good old fashioned word of mouth to get their books into stores has become less necessary. Thanks to social media and online platforms, they have been able to greatly expand their reach and sell more books than ever before!
It is interesting to trace the history of self-publishing. The idea was largely born out of necessity. Back in the day, self-publishing meant taking your book and passing it off as your own. Fortunately, these days it means much more than that. Nowadays, self-publishing is a viable option for anyone who wants to get a book out there, but it is also a wonderful way for experienced writers to get their work out to a wider audience. With the help of a great editor, you can make your book the best it can be and help it achieve the success it deserves.
The Biggest Difference Between Traditional and Self-Publishing
The biggest difference between traditional and self-publishing is that with the former, you will be working with a large, established company that has been in the publishing business for years. They have connections with stores that carry books, and they will take care of the entire process, from editing to formatting and getting the books into stores. (Incidentally, if you want to self-publish, you can also take care of all of this yourself. The world is your oyster!)
With self-publishing, you are essentially doing everything yourself. You will have to take care of all aspects of book publication, from designing the cover to editing to promoting to selling. And you will have to do this all by yourself. (Yes, this can be both a good and a bad thing. It depends on what you want out of it. If you want to create a product and get it out there, then it is certainly a good route. But if you want to be able to focus on writing and not getting distracted by all the other tasks that come with publication, then self-publishing might not be for you.)
How Much Money Can You Make as a Freelance Writer?
Another way to make a living as a writer is to become a freelancer. This is where you will be working on a contract basis, typically for one or two individual clients at a time. You won’t be doing this for cash, however; you will be doing it because you enjoy the challenge of working on an assignment that you find interesting. Sometimes it can be a bit of both. (Yes, the assignments can be rather random. Sometimes you get lucky and a bestselling author decides to use you for one of their later books. But more typically, you will be asked to write some white papers or conduct some digital marketing for a company. All of this can be done remotely, so you don’t have to be in the office all the time. This is why freelance writing is one of the most popular options among established writers. It allows them to continue to work while traveling or when they are on holiday, and it also means they can write on the side as well. (Depending on your skillset, you can make anywhere from a few hundred to a few thousand per year.)
The Pros and Cons of Being a Freelance Writer
On the one hand, being a freelance writer has a lot of benefits. You set your own hours, so you can fit writing in around your other responsibilities in life. You also get to decide on your own pay, so you can set your own standards and be financially motivated. (With some freelance writer jobs, you will get to set your own rates, but the clients still have the right of refusal. So, in some ways, it still is a labor of love.) On the other hand, there are a few downsides to being a freelance writer. Since you aren’t employed by one company, the income can be a bit erratic. Sometimes you can make a decent amount of money from one assignment, but other times you could be trying to make ends meet with shorter assignments. Traveling to write for clients can be difficult, especially if you want to maintain a steady stream of income. It can also be psychologically demanding, since you have to satisfy your creative side while still being dedicated to the task at hand. (A good editor can help with this. Having someone who is objective point out where you are making mistakes and helping you fix them can be invaluable.) Finally, being a freelance writer means you will have to put in the work to get the exposure you need to make money. You won’t automatically become a bestseller just because you wrote a book. You have to get out there and network, meet people, and build your platform. Once you have done this, you can expect to make more money. (Of course, this can all be time-consuming. But if you want to make a living as a writer, putting in the time is something you have to consider.)
Some Stats About the Authorship Industry
If you want to write and publish a book, you have many different options available to you. Thanks to the digital revolution and the world of self-publishing, it is now much easier for authors to get their work out there and into the hands of readers. But while this might be great news for aspiring writers, it can also mean there are more authors than ever before, and thus more competition. (In some parts of the world, especially the US, the competition to become a published author can be incredibly fierce. It is not uncommon for writers to put their work out there and have it rejected by traditional publishers multiple times before they finally get the recognition they deserve.)
In order to stand out from the crowd, you need to do many things. You need to write a good book that will draw in potential readers. But you also have to edit the book well. Make sure each part flows well and that the story is interesting and keeps the reader turning the pages. You need to design a cover that will make everyone want to grab the book. And you need to get the word out there about your book. (The more you put in, the more you will get back. It is as simple as that.)
The Cost of Writing a Book
The cost of writing a book is relatively low. Depending on the type of book you are writing, you will need to decide on a word count. For example, if you are writing a non-fiction book about biology, you will need to decide how many scientific terms you will need to know for the book. Once you know how many words you need, it is easy to find a grammar and style guide that you can use as a reference. (If you are not familiar with scientific terms, looking them up can prove costly. Learning the vocabulary can take a lot of time, and if you don’t have the time, then you should probably not be doing this project.)
The cost of writing a book also includes the cost of publishing it. If you are self-publishing, this will be the cost of a cover page, a few internal pages, and editing. To be more specific, the editing will include fixing spelling errors, checking for consistency and coherence across all the material, and rewriting portions of the book to improve its flow and content. (This last point is particularly important if you have a lot of material to edit.)