I am often asked about making money as a writer. It’s a common question. People want to know how to become a full-time writer, or at least how to make a living as a writer. What would you tell them? How can I make money as a writer?
There are several ways to make money as a writer. You can sell your writing, you can write online communities for money, or you can become a consultant and get paid for helping businesses solve their problems with writing. I’ll tell you about three of the best ways to make money as a writer today.
1. Publishing Your Own Books
This is the most conventional way to make money as a writer. You write a book. You have a publishing house that takes your book, transforms it into something beautiful, and puts it on a shelf for people to discover.
The advantage of this method is that you have complete control over the content of your book. You can write about anything you want, research whatever you want, and never be at the mercy of someone else’s opinion. You can also use this method to try out new things. If you’ve always wanted to write a guide about gardening or parenting, you can do that.
The disadvantage of this method is that, often, you don’t know how much money you’re going to make until your book is finished. It usually takes a while to figure out how well-received your book is going to be, and how much money you can actually make from it. The risk of this method is that if your book isn’t good, you could end up in financial trouble. As much as 80% of the publishing industry is now comprised of indie authors, who don’t necessarily have big bank accounts to fall back on. If you’re keen to try this route, make sure you have a backup plan. Once you’ve finished your book, you’ll have to look for marketing it, which can be quite challenging.
2. Blogging for Money
You might know that blogs can be monetized. You can put ads on your blog, and the revenue from those ads can supplement your income. You can use a tool like WordPress to create a professional-looking blog in minutes. Then, you can use a tool like Google Adsense to get paid for each time someone clicks on an ad on your blog.
The advantage of this method is that you can use your blog to pursue your passions. If writing is what you love doing, and you have a lot of talent, why not try to make some money from it? You can use your blog to explore all kinds of subjects that you’re passionate about, whether that’s politics, history, or science. You can establish yourself as an expert in your field, and even encourage others to check out your blog for more information.
The disadvantage of this method is that you have to put in the work. You have to write consistently and often to maintain a good level of content. If you want to make a living from this, you’re going to have to put in the hours. It takes a lot of effort to drive traffic to your website, and once you have, making sure people actually spend some money is another challenge. You might not make much money from a single source. You need to improve your monetization strategy to make this a viable option for you.
3. Start a Consultancy Practice
This is a fairly new route to make money as a writer. It combines the best of both worlds. You provide consultancy services to businesses. You do this by either acting as a ghostwriter, or by co-writing with business executives.
You interview the executives of the company, get their input on the topic, and then you write up the results for publication. For this to work, you’ll need to find a business that’s looking for some help, and can afford to pay for it. The advantage of this method is that you get to combine your two passions. You get to work with your favorite thing in the world, which is people, and get paid for it.
The disadvantage of this method is that you need to be able to pitch yourself as a business strategist, and be able to convince business executives to hire you. This could be quite the challenge. If you want to make a living from this, consider establishing yourself in a particular city, or even country. It helps if you have some experience in management.
As you can see, there are several ways to make money as a writer. As much as writing is about passion, it’s also about making money. Deciding which one is the most suitable for you depends on your specific circumstances. If you want to try out a freer, more independent life, you might want to consider self-publishing. This way, you’ll be able to experiment with the content and the format of your book, without risking your personal financial security. If, however, you want to establish yourself as an expert in your field, and be able to earn a decent living, you might want to consider trying out a consultancy practice. Just remember to be patient, and keep at it.