Crafting Cash: How to Monetize Writing into a Business

Crafting Cash: How to Monetize Writing into a Business
Posted on February 20, 2024

Writing takes more than passion. My apologies if I just broke your heart, but it’s true. Please know I’m coming with good intent. Knowing this earlier rather than later might save you more tears. Especially if you’ve considered taking your writing from a hobby to a thriving business.


Writing as a pastime compared to building a business requires dedication, strategy, and a willingness to embrace the challenges that come with entrepreneurship. Three ways to help you do so is to start asking yourself essential questions.


1. The Why

Why do you want to be a writer? Why do you want writing to be your main source of income? If you could make it an easier way, would you? Understanding your motivation will be key to staying committed to your vision when your work is rejected or worse your negative internal comments start to speak. Know your why and say it whenever you need encouragement.


2. The How: How will you monetize your writing? How will you manage your income? How will you increase sales? How will you pay to enhance your writing skills? Reading books, taking classes and attending webinars can be expensive. Outlining your strategies and financial projections will guide your decision-making and position you for better success.


3. The What: What is success to you? What is the goal you want to reach? What does it feel like, look like and sound like? For some, a successful writing business may be $25,000 a year, for others a $1,000,000. For some, publishing one journal might be the goal, for others selling ten novels. Whatever your idea of success is, you are correct. It’s yours, but you have to know what it is you want in order to know when you have it. If not, you’ll just keep moving the goal post and never reach it or enjoy it.


By asking yourself these questions and taking actionable steps, you can start to transform your love for writing into a lucrative business that fulfills your financial goals. Your future as a writerpreneur is now so get to it!

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