There are still plenty of ways to make money with words these days. A fast and easy one, though not fastlane unless you're a rockstar writer enjoying profit sharing opportunities, is freelance copywriting. That's what I do. It's good money but I won't get rich at it any time soon.
Kindle publishing is an obvious one though more competitive than ever, and it takes constant churning to stay profitable, according to testimonies of a lot of guys suceeding at it. My own observations say that if you're good enough and work hard enough you can still stand out, but as a writer entrepreneur, is it the best use of your time at this point?
There's the model of writing one groundbreaking book and getting massive exposure, which most agree is a lot more of a long shot.
Some of the wealthiest "authors" I've observed are the guys writing a book but packaging it as a downloadable PDF on their own site, setting their own price, and using good packaging/marketing to create a stellar marketing funnel. Maybe running paid ads or maybe affiliate programs or both.
One guy who had massive success with this is outlined in a Tim Ferrish article here: http://fourhourworkweek.com/2011/11/02/the-truth-about-abs-mike-geary/ There are countless others still doing well with that model. Typical IM approach but the ones who make it know their marketing well and create a superior product in a high demand niche. I noticed there are several others in the solopreneur millionaire articles discussed in another thread here.
One model that has caught my eye many times is structuring your content as a paid newsletter and delivering a periodical weekly or monthly for an ongoing fee. If you think about it, you only need 1000 people out of the over 7 billion on this planet who are willing to pay 10 measly dollars a month, and you've created a $10,000/month income.
Yes, easier said than done, but if your market was large enough, your authority believable enough, and your content good enough, 1000 people could be just the start of something really huge. I've noticed a lot of successful authorities leaning towards this model after seeing success with their original products, and to me it seems like an idea with huge potential.
Like writing books, you'd have to keep going to get those newsletter out, but building a team to research and fill your newsletter with great information would be very doable too. And of course if the info is valuable and/or interesting enough there's no reason you couldn't charge a lot more than an ongoing $10.
I realize many of these ideas have been hit on in the forum already, and I also realize that the value of your content is more important than anything. We all know you can't just create a business because you want to have money fall in your lap, so for the sake of the thread let's assume you've already identified a niche audience you want to serve with something of value.
I've just noticed a lot of writers are hesitant to jump into the Kindle game at this stage because of the competition, myself included, but selling "content" in it's many different forms is by no means limited to this one methedology. So, for the sake of considering other possiblities, I thought it'd be interesting to have a thread where we listed some of these different models an entrepreneur with solid writing skills could leverage to build a business.
What different ways have you seen people packaging information in the written form for profit?
Kindle publishing is an obvious one though more competitive than ever, and it takes constant churning to stay profitable, according to testimonies of a lot of guys suceeding at it. My own observations say that if you're good enough and work hard enough you can still stand out, but as a writer entrepreneur, is it the best use of your time at this point?
There's the model of writing one groundbreaking book and getting massive exposure, which most agree is a lot more of a long shot.
Some of the wealthiest "authors" I've observed are the guys writing a book but packaging it as a downloadable PDF on their own site, setting their own price, and using good packaging/marketing to create a stellar marketing funnel. Maybe running paid ads or maybe affiliate programs or both.
One guy who had massive success with this is outlined in a Tim Ferrish article here: http://fourhourworkweek.com/2011/11/02/the-truth-about-abs-mike-geary/ There are countless others still doing well with that model. Typical IM approach but the ones who make it know their marketing well and create a superior product in a high demand niche. I noticed there are several others in the solopreneur millionaire articles discussed in another thread here.
One model that has caught my eye many times is structuring your content as a paid newsletter and delivering a periodical weekly or monthly for an ongoing fee. If you think about it, you only need 1000 people out of the over 7 billion on this planet who are willing to pay 10 measly dollars a month, and you've created a $10,000/month income.
Yes, easier said than done, but if your market was large enough, your authority believable enough, and your content good enough, 1000 people could be just the start of something really huge. I've noticed a lot of successful authorities leaning towards this model after seeing success with their original products, and to me it seems like an idea with huge potential.
Like writing books, you'd have to keep going to get those newsletter out, but building a team to research and fill your newsletter with great information would be very doable too. And of course if the info is valuable and/or interesting enough there's no reason you couldn't charge a lot more than an ongoing $10.
I realize many of these ideas have been hit on in the forum already, and I also realize that the value of your content is more important than anything. We all know you can't just create a business because you want to have money fall in your lap, so for the sake of the thread let's assume you've already identified a niche audience you want to serve with something of value.
I've just noticed a lot of writers are hesitant to jump into the Kindle game at this stage because of the competition, myself included, but selling "content" in it's many different forms is by no means limited to this one methedology. So, for the sake of considering other possiblities, I thought it'd be interesting to have a thread where we listed some of these different models an entrepreneur with solid writing skills could leverage to build a business.
What different ways have you seen people packaging information in the written form for profit?
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