If I have ever told you I make money from writing, I am sorry! I have not been telling you the truth! For a few months now, a mentor had insisted I get a MacBook. “Not like I don’t have a laptop or a phone. My work is pretty perfect and straightforward. So why do I need a MacBook?” I thought.
I was on a publishing forum and saw some comments about the process of creating books for print and digital publication. A web solution kept popping up. Unfortunately, the tool only works on MacBooks. However, when I read all the comments, I knew this could potentially save me time and resources. I had saved up a bit. So I invested some of my resources on a MacBook and a lifetime license for this software.
Now, I can serve authors in less time than ever! My work process is seamless and more coordinated. In the space of a month, I had closed jobs almost worth my investment in both the MacBook and software. What this means is that the minute I finish repaying the capital, all I will be making is profit. This strategy has worked for me with a lot of services or bonuses I offer as a writer. I listen to a lot of people go on and on about investment. They tell you that savings and income are not enough to make you rich. These messages send you into an investment research frenzy. At the end of the day, you are still nowhere close to buying Amazon or Tesla shares.
As a professional writer, technical skills are important parts of your service delivery. You may not get rich writing your own fiction stories but you can help businesses and individuals bring their platforms, books, and ideas to life. This is where you need to start thinking like an investor. Investors simply look for already established solutions that can bring them a profit.
My Writer Cashflow Strategy Includes 5 Simple Steps:
- Follow publishing trends because they matter to writers, content users and businesses.
- Identify new and innovative ways to solve the problems associated with the above trend.
- Invest in their solutions either by subscription or by purchasing licenses.
- Design products and services that align with your investment.
- Market like crazy!! Because your investment will not sell itself.
The reason I recovered $1000 capital in less than a month is that I already have a customer base and I am almost always marketing. Most importantly, weigh the reward of having the solution against the cost by looking at how many potential customers you could serve and how much 1 single customer is willing to pay for that service. Imagine paying $1000 for a solution that solves a problem worth between $250-$1000. All you need are 4 customers willing to pay equal to or more than the minimum price for the service, and you have recovered your capital.
Doing thorough market research is also important. It’s important to remember that money flows to where capacity exists. If you can solve a problem easily and efficiently, the clients will come and money follows. If I ever told you I make money from writing, it’s true but not the whole truth! This post is the whole truth. I don’t just make money as a writer. I am also an investor with an eye for opportunity. This is why when I teach writing, I bring more than just the storytelling, I bring strategy, ideas, tools, and resources that will help you become an asset to your readers. If you want to know more about my mentoring program, please leave a comment or send a message. Share this if you like the strategy.