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Ep 86: Making Money As a Writer Online

Ep 86: Making Money As a Writer Online

Released Friday, 8th March 2024
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Ep 86: Making Money As a Writer Online

Ep 86: Making Money As a Writer Online

Ep 86: Making Money As a Writer Online

Ep 86: Making Money As a Writer Online

Friday, 8th March 2024
Good episode? Give it some love!
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Episode Transcript

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0:03

Hello welcome back to the podcast i am dean

0:06

seddon and this is my podcast and

0:10

today we're going to be talking about how do you make

0:13

money online as a writer how do you make money online as a writer and i'm going

0:18

to talk about some different options different ways you can do it and then the

0:22

way typically the most successful people do it making money online as a writer

0:28

so So buckle up and as always, if you have questions,

0:32

if there was something you'd love to know or my take on something,

0:35

you can find me on all the social channels.

0:37

Just search for Dean Seddon and you'll find me.

0:41

So there has been a huge explosion in people making money from writing online,

0:48

from people doing blogs, tweets,

0:50

you know, the thought processes that you need to be an Instagram influencer

0:54

or a YouTuber to make money. No, there are people making millions every single year by writing their thoughts

1:04

and sharing their ideas online.

1:07

And you will find these people, websites like Medium, Substack,

1:13

you'll find them on LinkedIn, you'll find them on Twitter. They are everywhere.

1:20

But how do you actually make money? and we'll look at some of the practical steps you can take.

1:27

So let me just walk through how most people make money.

1:33

So there's typically two revenue models of how people make money online as a writer.

1:40

There is the back-end model. In

1:42

other words, they are making money from somebody else, not the audience.

1:47

So they might have a brand partner, an affiliate relationship.

1:51

They make commissions, but they're being paid to write.

1:56

So there is a revenue side on the back end. In other words, their audience pays them nothing.

2:03

People pay to access the eyeballs. So that's the first model.

2:07

So it's an affiliate brand partnership. The audience, it's free for the audience

2:12

and brands pay to get access or to benefit from that audience.

2:17

So that's the first model. that is the most widespread model out there and it's

2:24

one of those models that you generally build to but if you're starting out as a writer.

2:32

The front-end model is probably the quickest path for you to make money.

2:37

So by that I mean that your audience buys from you.

2:41

And this is where we've seen the explosion in online courses,

2:45

paid little templates, masterclasses and online learning.

2:50

And this is nothing new. Online learning and buying knowledge has been around for centuries.

2:57

And if you can curate

3:00

an audience a motivated audience who consume

3:04

your content whether that's 200 people or

3:08

200 000 people you can make money online as a writer and so typically how this

3:16

rolls is social media is the means to get your message out so if you think about

3:23

your writing platform, wherever that is, your website,

3:27

it's your, it's Substack, it's a blogging platform,

3:33

it's Medium, it doesn't matter where it is, but that's your main source of where

3:39

your high value content that's going to make you money is.

3:43

And so social media becomes the way to get eyeballs to it.

3:48

And when I'm talking to people, because obviously I major in making money through social social media.

3:55

Most people think that the money is in the social media itself.

3:58

Well, just remember, you rent your audience on social media.

4:03

In other words, social media platform can take that away from you.

4:08

So typically, what will happen if we think about the components to making money

4:13

online as a writer, or any way of making money, the first part is,

4:19

I've got to have something to sell.

4:22

So I've got to have something to sell. Well, number one, is that a course?

4:26

Is that a book? Is that a template? Is that a framework?

4:29

Am I doing affiliate relationships? Have I got a partnership with a subscription service of some kind?

4:36

So I make a cut on every sale they make?

4:40

Anything like that. What am I, how will I make money from this?

4:44

Don't think about, I'll get the traffic and make money later.

4:48

Think about how you're going to make money from the beginning.

4:50

Beginning, even if it seems a little ridiculous at the beginning,

4:53

because it seems like impossible, at least have a plan of how you're going to make money.

5:00

So many people, I see this on social media a lot, so many people,

5:04

what they do is they go, I'll get the crowd and then I'll figure out how to make money.

5:08

No, figure out how you're going to make money and then go get the crowd.

5:12

Trust me, it is better it's simpler

5:15

it's more straightforward so there's there's

5:20

a few components something to sell the content that's going to help you sell

5:25

that your blogging platform your articles your insights that are going to help

5:30

you sell whatever it is you're going to sell so something to sell your selling

5:36

content your content that's going to attract people engage people and convert people.

5:41

And then you've got to get a means of distributing that to new users and getting them into your world.

5:48

Now, typically what people will do is they will build an email list,

5:53

a subscription of some kind. It could be a free subscription, probably best at the beginning,

5:58

but a free subscription. So in other words, you can email people your content. So you have a means to

6:03

get your content to people and get their eyeballs on it.

6:07

You're not relying on them coming to look and you're not reliant on a social media channel,

6:13

and their algorithm to get it in front of people so

6:17

something to sell the master

6:20

content that helps you sell that thing the means to get people to continue to

6:25

see it email list and then social media builds the email list so social media

6:32

grows your email list your email list pulls people to your major content on your blog platform.

6:39

You could just email it to people too and get people to sign up to your newsletter.

6:43

And then that newsletter drives people to revenue.

6:46

That is how most people can get started writing and making money with writing online.

6:54

So it's social media, email newsletter.

6:57

From the email newsletter, we go to actually delivering the content and the

7:02

content sells whatever it is you're selling.

7:05

That's how you make money online as a writer. Now, if you were getting started, I would encourage you to make a very simple

7:12

product that is a no-brainer, a low ticket, $7, $5, $15, just to get some proof of concept.

7:22

Once you've got proof of concept of what you're selling, of course,

7:25

you can increase the price. And if you've got some satisfied customers, customers they will

7:30

give you testimonials so there is a

7:33

bit like starting a social media platform there

7:37

is a critical mass that you have to get to make

7:40

it viable and in the gap between

7:43

it being a great idea and becoming financially viable you have to commit to

7:50

improve to work hard to adapt adapt to learn so that you refine what you're

7:56

doing to make it better and better to the point where you reach and it takes off.

8:01

Now, I don't mean it takes off and you get 200,000 subscribers in a day.

8:06

And unfortunately, social media has twisted our view of reality to that we think

8:12

that that is what happens. It isn't.

8:15

It's a long, hard fight to a thousand email lists.

8:18

Then it gets it's a bit quicker then it slows down again then it feels like

8:23

you're stuck then you know i i've had.

8:26

I've had years building email lists and there are various places where it feels

8:31

like it just sticks and you can't get it to move.

8:34

And you've got to push through those and learn what will take you to the next level.

8:40

What many people do is they start this and they don't realize the amount of

8:45

work that's involved to get to that point and they quit beforehand.

8:50

And that's really really sad because if you can build a loyal audience you can

8:55

actually make really good money. There's one particular new it's a newsletter

9:00

but it's delivered on the website substack it's

9:04

not my cup of tea personally but it's a really good site

9:07

a site it's a good newsletter very successful and

9:11

they make five million dollars from publishing

9:14

one article a week week five

9:17

million dollars now did

9:21

they get there easily no did they

9:24

get there in five minutes no can you

9:27

get to five million dollars i don't know but i

9:31

know if you stick to it and you work at it and

9:34

build that content that speaks to a specific

9:37

audience that and your product or

9:39

your service or your offer that you're selling through that

9:42

content really aligns you'll do very very well

9:45

but it comes down to your commitment to building

9:49

this and unfortunately one of

9:52

the big complaints i have about social media is even

9:56

though i'm in the social media world is it's

10:00

harmed our culture and made everything look like quick and easy and so when

10:06

people approach this when people go to social media and say i want to make money

10:10

from there or when they go to build a writing business and I want to make money from there. Guess what?

10:17

The gloss of social media about people saying, here's how I went from nothing

10:23

to $10,000 a month in six months.

10:29

And you read that and go, wow, I could plug away for six months and I could be at $10,000.

10:36

Well, let me just give you, and I'm not trying to dissuade you here, by the way.

10:40

I'm not trying to dissuade you. I think it's is a great and admirable task,

10:44

but I want you to do it with your eyes wide open as a grown-up,

10:46

not a child, not a baby, not an impatient teenager, and make a conscious choice.

10:52

I am going to invest in building a writing business, and I am going to set aside

10:56

time in my diary, even when I feel tired,

10:58

even when I want to watch TV, even when there's something great on Netflix,

11:02

even when I've had a bad week and I don't feel it, I am going to commit to writing something every week.

11:08

But social media has done some heavy damage to our, first of all,

11:13

our stickability to things because we see so much instant gratification and

11:19

we think that that's what happens.

11:23

But the other piece of damage that it's done is that the people who've had success.

11:30

And often the people who've had the unrealistic success, in other words,

11:37

they've done something beyond what is normally possible.

11:42

So they are flukes, basically. They've achieved something.

11:46

Oh, in five years, I went and built a $10 million business and I did it with no...

11:52

They are outliers now i'm

11:56

not trying to you know i was going

11:59

to say something else then pee on your parade what i'm

12:02

trying to say and hopefully my audience has grown up grown up to take this from

12:07

me is that if you spend a lot of time around the outliers they can get you really

12:13

excited and really disappointed at the same time they can get you really excited

12:20

because they help help you see the opportunity,

12:22

and usually they have a course or something to help.

12:26

They can help you see the opportunity. And often their success makes it feel very simple.

12:34

Their communication makes it feel very simple.

12:37

But the reality is very, very hard. It's very tough.

12:42

And I'm not saying you can't do it. I'm not saying don't do it.

12:46

I'm saying if you want to make money writing online,

12:50

the average person who goes into any form of content creation as a business,

12:57

it takes them 17 months to get to the point where they are at the point where

13:03

they could potentially leave their job. 17 months.

13:08

So yes, you can make good money writing online,

13:12

but strongly suggest number one, you do not want to be chopping and changing

13:17

what you're doing halfway through so choose your topic choose your niche choose

13:23

how you're going to sell and what you're going to sell have that all pinned

13:27

down so that when you go to write you write specifically,

13:31

in a way that aligns with that whole strategy of

13:34

content's going to help me make money by doing this and you

13:38

write that whole thing map out how you're going

13:41

to distribute it how you're going to to get it out into the world

13:43

social media's got a no-brainer one then build

13:47

an email list and then move people to the long-form content

13:50

that long-form content sells you sells your

13:54

product or service that's the best easiest

13:57

simplest way to make money writing online

14:00

and i do it i make money from my writing online i sell products from writing

14:07

online my business is from online training training and coaching and courses

14:13

from content and marketing stuff online. I've done probably what?

14:19

I know 9 million in four years, four years, five years. Um.

14:27

But I started, I started and had to just go at it, go at it,

14:31

go at it, go at it, go at it, go at it. And you will have to go at it, go at it, go at it, go at it.

14:35

But yes, you can absolutely make money online. It's one of the best things you can do. It is a world full of opportunity.

14:42

It is fantastic, but you have to push through that point until you reach the,

14:46

like the breakthrough point where you've got some stability in revenue and you've

14:51

got some growth and you know how to scale it.

14:54

Many times what people do, I'll just leave you with this thought,

14:58

many times what people will do is they will start something.

15:02

Not realize the work that's involved or start something.

15:07

They'll get a bit of a bellwether of this is going to go great.

15:10

The first uptick, it feels great.

15:13

And of course the reality is you will have ups and downs and highs and lows.

15:18

I can remember when I

15:21

was building my newsletter when it first

15:24

got going I started making some money and then I

15:28

got one like really nasty email from somebody who

15:31

said I don't know why I signed up for this all that

15:34

kind of stuff gave me their two pennies and in that

15:37

moment I felt like do you know what I don't even want to do this

15:40

anymore like one person nearly

15:45

kind of derailed me because they just had a poison

15:48

tongue and it would have been

15:50

a massive mistake if i'd have done that but what i'm trying to

15:53

illustrate is there will be tough times

15:56

ceilings negative feedback all that

15:59

stuff and look i would love to be in the position of some of these mega rich

16:06

people but for every if you like say pick up a mega mega rich person who's made

16:13

something you know amazing and and and had built a really successful business, or what have you.

16:19

If you go online, you will find blogs and people ripping them to pieces. And...

16:27

I don't see them crying over it. I don't see the billionaires crying over it. They've grown up.

16:31

They realize that if you want to do something great, if you want to do something

16:35

amazing, you have to be in it despite all the challenges, despite all the bumps

16:40

and bruises, and really make it happen.

16:44

And I know some of you listening to me who are thinking about how do you make

16:49

money online as a writer? How do you do it?

16:52

Well, I've just given you the layout there and then. Then that is the master

16:56

plan you will pay money for.

16:59

It's a newsletter site, a website, a blogging platform, build an email list,

17:05

use social media to build that email list, and make sure you've got something

17:09

to sell on that blogging platform. And you're done. That's it.

17:13

Everything else you can learn on the way. I've just saved you $97 or $19,1997

17:20

or whatever it is. But go do it. Give it a try.

17:24

And have a play with it study what other people are doing follow their social

17:28

feeds look at how it works and you will see that everybody's following the same

17:32

model social media to email list monetize the email list using cut long form

17:38

content to sell a course program what have you.

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