Are you making a six-figure income from your writing? It’s much easier than it’s ever been. But when I coach writers, I see my students making similar mistakes. These mistakes ensure that they write like demons but their income stays low.
Here’s the good news. You can fix those mistakes, and more easily than you can imagine. There’s no ceiling on your income. If you’re making a low income, it’s because you’re not targeting the right market, or because you’re pricing your services too low.
Here’s an example. One of my students, Stephen, chose coaching because he’s worried about his day job. The company he’s working for isn’t doing well. Moreover, he and his family live in a one-bedroom apartment, and they’re expecting their second child. Although he’s heard that writers can make six-figure incomes, Stephen doesn’t really believe it.
Stephen is an excellent writer, but he was selling 500-word articles for $20. He told me that “my clients won’t pay more.” Indeed, he maintained that one of his clients “said that he could get 500-word articles for $2.”
Stephen’s right. His clients won’t pay more. And clients can and do buy articles for $2. The solution? Get clients who CAN pay more. Yes, there are plenty of low-paying clients. There are just as many quality clients who will pay you $200 an hour. It’s up to you for whom you write.
Got an hour? Let’s look at ways you can be on your way to making a six-figure income. These three tips will each take you less than an hour to implement.
1. Get clients who can pay you well
The biggest mistake low-income writers make is targeting low-paying clients. If a business has tiny margins, they can’t afford excellent writers. If they need a writer, their aim is to pay as little as possible. They can find all the writers they need who will write for $20 and less an hour.
That’s fine. That’s life, and business. If you want to make six figures, you’ll target those clients who expect to pay $200 an hour for your services. These kinds of clients include those who service other businesses. For example, I’ve been writing for a company which rents oil drilling equipment for the past decade. Another client develops industrial premises.
Here’s a secret: choose to write for business to business clients. You’ll find these clients advertising in business and in trade magazines.
You’ll find business magazines at your local newsstand.
To find trade magazines, think about your family and friends. What industries do they work for? Trade magazines aren’t sold to consumers. Ask the people you know what trade magazines they get.
You’re looking for those companies which advertise in business magazines, and/ or trade publications.
Spend 60 minutes to find clients who pay well. Call your local library. Call your relatives. Get your hands on some trade publications.
2. Charge appropriately for your writing services
Writers write for many different reasons. Most writers are hobbyists, and there’s nothing wrong with that. They write because they need a creative outlet.
However, if you’re a commercial writer, you’re writing for an income. If you’re living in a developed economy, you can’t afford to write for less than $100 an hour. Aim for $200 an hour. The clients you’re aiming for are those clients who EXPECT to pay you $200 an hour.
So, charge appropriately.
Spend 60 minutes revising your price list: the fees you’re charging.
3. Get the “hustle” mindset: develop new services, write ebooks, ACT LIKE A WRITER
Six-figure writers HUSTLE, as I said here:
Yesterday, three days after her “I made 200 calls, but…” call, and after making 219 prospecting calls in total, Libby landed two gigs to write Web content. One was an on-going blogging gig, and the other was ten pages of straight content. Better yet, she had $2300 in her PayPal account, and $1,900 in her bank account. Six prospects had emailed or called for quotes.
Spend 60 minutes making a list of ways you can hustle.
Yesterday, we talked about a 60-Minute strategy. There are many ways you can use 60 minutes to change your writing life – check out three ways in this article. I hope the tips help you to create a six-figure income. If other writers can do it, so can you. Have FUN. Remember, there has never been a better time to be a writer. Please make the most of all the opportunities you have – you truly have more than you can imagine.