My father made his living as a self-employed truck driver when I was a child. He wasn’t your average truck driver – he owned his operations and maintained contractual arrangements with trucking firms.
Since my teenage years, the appeal of entrepreneurship has always lingered. However, I didn’t find enough allure in truck driving to carry forward my father’s profession, despite a brief detour as an Uber driver.
Over a period, I explored various avenues of business derived from my hobbies – crafting and hairstyling. However, in 2023, a revelation struck – I could convert my love for writing into a business.
Writing has been my aspiration since my school days, but I was aware that honing my skills was crucial to a successful business journey.
Identifying Your True Interest
Reflecting upon my past business ventures, I realized my lack of intense passion was a major reason for them not flourishing. Although crafts and hairstyling were enjoyable hobbies, the prospect of doing them excessively to earn a living seemed physically strenuous.
Writing on the other hand seemed more feasible. Modern technology, which allows transcribing voice into written words, makes writing easy and accessible. I haven’t used this method extensively yet, but I foresee its increased usage in the coming years.
Evaluating Market Potential
My aspirations extend beyond becoming a successful novelist and digital writer; I also want to mentor budding writers on their literary journey. I aim to help them confront their anxieties associated with writing, reflecting upon my own experiences of dealing with fears associated with writing.
While numerous writing mentors exist, my specialty is enabling writers to overcome fear. I’m the one who can arm aspiring writers with strategies to conquer procrastination and perfectionism, which I grapple with daily. I understand the struggle of battling writer’s block and imposter syndrome and can guide writers through such challenges.
Based on my research, my niche specialization in these areas sets me apart from other writing coaches.
Identify an underserved niche in the market that aligns with your interest and unleash your value into it.
Devising a Business Strategy
Think of your writing endeavor just like any business enterprise. What are the immediate and future objectives? What sort of services or products are you planning to offer and at what price?
If you aim to generate $1000 monthly from your writing, calculate how many products you need to produce. For instance, if you develop ebooks priced at $10 each, you will need to sell 100 to achieve your $1000 target. However, if you design an online course priced at $100, you only need 10 people to purchase it.
Consider the most suitable way to distribute your content and develop the products, pricing them based on the value you deliver, always keeping your financial objectives in mind.
Establishing Your Brand Persona
As an inherently creative individual, one of the first things I do when I initiate a new project is to settle on a visual that will be the focal point. I created a logo when I considered launching my own Medium publication or a Substack newsletter.
Mostly, I use Canva to create visuals unless I’m using stock photos. I maintain consistency with fonts and colors. You can identify my work online by its characteristic red color scheme, varying from bright to deep shades, often with splashes of blue or black for contrast.
Every infographic or carousel I post features my name and blog. I want my content to be identifiable no matter where it appears.
What defines your brand image? Do you keep a consistent font style across your products?
Developing Your Digital Presence
With an associate degree in information technology, I am somewhat experienced in website development. My blog is continually evolving and is not yet where I want it to be.
Before even purchasing your domain, it’s crucial to have a content strategy. I aim to post weekly. I once posted daily for a month, sharing snippets of these posts on LinkedIn, which boosted my engagement rate by 1000%. However, this strategy didn’t work as well on Twitter/X; multiple posts and interactions are required for any significant breakthrough there.
To gauge your content’s visibility, check your analytics or simply Google yourself. While there are other individuals sharing my name, my aim is to appear in the top Google search results – and I’m getting there gradually.
Capitalizing on Your Writing Expertise
Despite the frequent changes annoying me, I find Medium to be an excellent platform for novice writers to practice and earn a little on the side.
Besides, I offer ghostwriting services to friends and family when needed. Although I’ve been intrigued by copywriting for a while, I struggle with cold emails and DMs. So, I strive to produce excellent content that resonates with readers. I’m more comfortable offering my services to someone familiar with my work.
I’m also developing a series of mini ebooks to grow my email list. I plan to extend one of the ebooks into a full book and eventually a course, understanding that diverse formats cater to different learning styles.
I’ve got numerous ideas for fictional novels stored on my Google drive, hoping to publish at least one annually over the next decade.
How do you intend to leverage your writing for profit?
Strategic Marketing and Outreach
As writers, most of us are content simply penning down our thoughts. However, transforming this passion into a profit-making endeavor requires us to don multiple roles. If you have the resources, it’d be great to get a team onboard. But limited funds might mean you have to embrace a do-it-yourself approach.
Building and cultivating your audience is essential. While an email list is crucial, in its absence, social media becomes your ally.
Make sure to highlight the issues you can resolve. Share concrete examples of your beneficial impacts, and if you haven’t worked with anyone before, be your first success story. Don’t make promises you can’t keep.
I pledge that I can guide people to confront their insecurities and chase their dreams, something I practice daily. My own expectations drive me, which is why I maintain a consistent virtual presence. I may not always be active on Medium, but rest assured, I’m making my presence felt online 80-90% of the time.
Capitalizing on Connections and Partnerships
Reaching out to others can be challenging, especially for introverts like me, but it’s crucial to overcome the hesitation and engage with those you respect and aspire to collaborate with. Most people do respond.
One individual has not yet responded to my engagement, but rather than being disheartened, I’m persistent. I value her work, and I believe that one day, she will recognize me.
Avoid crossing the line into stalking, but if you wish to partner with someone, present them with a viable proposition. Be precise in what the collaboration involves. Do you want an interview, mentorship, or coaching arrangement? Clarity is key.
Handling Fiscal Matters and Legal Aspects
From managing my father’s incomes and expenses, I understood the importance of fiscal management and tax basics from my previous employment.
I take the protection of my intellectual property seriously. I always have my content backed up elsewhere, and I make it a point to credit sources whenever their work is utilized, be it written or visual.
Expanding Your Venture
Make continual plans for growth. Envision your business’s trajectory over the next 1, 3, 5, or 10 years.
Will you always work solo, or will you need support eventually? Perhaps a virtual assistant to tackle the tough marketing aspects?
Bear in mind that when you accept a task, you take on the accountability for the results, good or bad. In my previous role, this related to taxes, but in my writing venture, it pertains to your entire business. So, don’t blindly delegate tasks; have a basic understanding to ensure everything runs smoothly.
Conquering Obstacles
I have previously grappled with writer’s block, but technology now assists me in generating a plethora of ideas. I usually plan content for at least a month or more in advance.
Depending on my mood, I decide when to write and when to publish the content. There are times when I feel overwhelmed, but these phases pass swiftly, a marked improvement from my past struggles.
Despite having the option to self-publish all my content, I choose to submit particular articles to publications for wider reach and constructive feedback. I value knowing whether my work is appreciated or if there are areas for improvement.
Comprehend your readers’ needs and cater to them in a way they can resonate with.
Keeping Up-to-date and Adapting
I constantly consume content, which some might argue is excessive, but it’s essential for my development.
Without the internet, bloggers, content creators, or platforms like Medium, Twitter/X, and LinkedIn, I had to resort to more traditional methods of learning.
Coming from an era dominated by physical manuscripts and postal submissions, the advent of modern technology has been a blessing. Embrace digital advancements as much as you can. Although SEO might seem tedious, if visibility on Google searches is important to you, it’s worth your while to grasp and incorporate it into your strategy.
Achieving a Harmony Between Profession and Personal Life
Like many, you probably have your electronic devices like your smartphone, tablet or laptop within an arm’s reach. After all, you never know when the light bulb of brilliant content ideas will flicker on and you’d want to jot it down before it fades. However, it’s imperative to set aside quality time for your family.
Attempt to engage with your partner without incessantly checking your phone. Engage your children in conversation instead of typing away on your laptop. Of course, they might need your help with something online, but let’s be honest, the new generation is tech-savvy and rarely requires our assistance for such tasks. Thus, actively be in the moment with your family.
Remember to carve out some time for yourself. The notion of self-care is widely misunderstood as laziness, especially among self-employed individuals. This is far from the truth. From time to time, you might need to take a nap, indulge in a stress-free mobile game, or simply step outside for a breather.
Allowing your mind and body to recharge rejuvenates your energy. When your energy is boosted, your thinking improves. And with improved thinking, your creativity soars.
Celebrating Your Achievements and Victories
When I author an article for Medium on Mondays, I feel a sense of accomplishment. If I pen a blog post on Wednesday, I reward myself with cookies. If I craft a newsletter for Substack on Saturday, my excitement prompts a happy dance.
Always celebrate your achievements, no matter how big or small.
If my piece ever gains viral traction or gets a significant boost, rest assured, I’ll shout it from the rooftops. I might even celebrate with a video against a festive backdrop of streamers and balloons.
To Summarize
Nurturing a business revolving around your passion can be immensely rewarding. It becomes even more fulfilling when you effectively apply your writing talents to monetize. Essential takeaways:
- Passion: Your passion is often the cornerstone of your success.
- Market Viability: Concentrate on addressing a unique market need.
- Business Plan: Establish precise objectives and pricing to reach your income aspirations.
- Brand Identity: Consistently maintaining aesthetics and messaging helps forge a recognizable brand.
- Online Presence: Formulate a content strategy and connect with your audience on various platforms.
- Monetization: Leverage diverse channels such as Medium, ghostwriting, ebooks, and courses for income generation.
- Marketing: Establish your expertise and provide solutions. Cultivate your audience to boost your business.
- Networking: Cooperate with others and clearly share your thoughts and objectives.
- Finances and Legalities: Grasp financial management principles and safeguard your intellectual property.
- Scaling: Strategise for expansion and contemplate delegating tasks as your business flourishes.
- Overcoming Challenges: Embrace new technologies, welcome feedback, and continuously adapt to remain relevant.
- Work-Life Balance: Prioritize self-care and reserve time for family to maintain overall wellness.
- Celebration: Recognize and rejoice in your victories, big or small, throughout your journey.
By implementing these strategies, you can successfully run a business that caters to your passion for writing while maintaining life’s balance.
