Do you actually know where you’re going and what you want to achieve in business as a writer? Are you sure?
It’s important to get a plan, otherwise you’re unlikely to succeed.
If you just want to get a few items published every now and then, that’s probably what you’ll achieve.
If you believe that people who write don’t earn very much, then those are the results you’ll probably achieve yourself.
Have you thought seriously about the sort of revenues you want your business to generate? Have you thought seriously about how you’re going to achieve them?
It’s a good idea if you do, because if you don’t know what you’re looking for, you’ll have trouble taking steps to help you to arrive at the right financial destination for you.
Earning a living
Surveys show that the “average” writer who attempts to write full-time earns about two thirds of the national average wage. That means the average full-time writer lives in penury unless he or she is supported by someone else.
How many features do you need to write to earn the national average wage – currently about £25,000 in the UK? How close do your books come to delivering £25,000 in royalties?
When you do the sums, you start to see why writers struggle in financial terms. You also start to see the logic of my basic premise – that you need to do more than write for publication to build a sound business - however good a writer you are.
Take steps to add in some other activities, and in doing so to build your income.
First, work out how you can use your writing skills in a range of different contexts: websites, copywriting, handbooks and guides and so on. Broaden your reach. Are you happy with being unpublished and paid? It’s a question you need to think about and if you are, then the large numbers of opportunities in front of you.
Earning a good living
Now, let’s assume you want to earn twice the national average wage. Are you already shaking your head? Are you already saying that’s just not possible?
Many established writers struggle to earn this level of income so that might be influencing your judgement about just what is possible.
You’ll need to learn a bit about self-promotion, if you’re going to build your income.
One of the reasons why I speak and write about self-promotion so much is that without it you won’t get the income you aspire to. You need a platform for your work – that is you need to get the message out about who you are, and how you can help your customers. This is quite different from talking about what you can do and encouraging people to “buy” a slice of your skills or your output.
If you’re looking for twice the national average salary you’ll also need to think seriously about doing things other than writing. Speaking, consulting, mentoring, coaching and possibly teaching are all activities which will give you additional income streams.
Building your business
Now that you’re making progress and earning a reasonable income, perhaps you’d like to consider earning three times the national average salary.
You need some strong business ideas at this level. You’ll almost certainly need some business associates to work with. You’ll definitely need to develop a range of marketing skills. Your writing will need to be customer focused.
And beyond that . . .
Well, your writing skills can be applied in many different contexts.
You can apply a mix of writing skills and other skills in order to build a powerful business offer.
If you also make sure that whatever you do you are dealing with real problems that people are prepared to pay to address, then you don’t need to limit your financial horizons.
Lots of writers are interested in earning a good living. Lots of writers are disappointed by the income they currently earn.
Some of the most popular items I have written about have been to do with income and reward, so it’s clearly a subject that writers think about often.
I believe there are lots of things you can do to shape the income levels you are likely to achieve.
You need to spend some time at the beginning of your relationship with writing to decide how much money you want to earn. That aspiration will, above anything else, affect how you choose to develop your business. As you work to turn your aspiration into reality you will make some interesting choices about how to use your writing skills.
So, start thinking and then . . . get a plan.
See also:
Developing an entrepreneurial mindset
This is the fifth instalment in a series of ten posts for new writers.
About Margaret Adams
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