Diversify Your Income as a Writer

Diversify IncomeEveryone has heard the old saying, “Don’t put all your eggs in one basket.”  When it comes to making money, this simply means that it is unwise to have just one method of bringing in money.  Sadly, most people rely solely on the income from their job, and if they ever get laid off or fired, they are in a really bad position.  Many writers also fall into this habit, relying on a small number of clients, or just a few sites to buy their content.  What happens if/when that client decides that they no longer need content, or the site you work with closes shop?

A Writer’s Unique Position

When it comes to making money online, writers are in an extremely desirable position.  Having the ability to write high-quality content is, perhaps, the skill that is most desirable when it comes to making money online.  This is why so many people are willing to pay writers to create content for their sites.  While freelance writing for other people is a great way to make a great income, it shouldn’t be all you do.  You can branch out to start doing other types of writing, or offering additional services to diversify your income as a writer.

Writing for Yourself

Remember, if someone is paying you $35 for an article, they are counting on the fact that they will earn at least twice that amount (and often FAR more than that) by publishing that article on their site, or using it in some other way.   Everything you write has the potential to earn the person who buys it from you a significant amount of money.

Rather than writing content for other people 8 hours a day, consider taking even just 1 hour per day and writing for yourself.  There are many different options to choose from, and they all have the potential to start earning you a significant amount of money.  Here are just a few options to consider:

  • Write a book and publish it on the Kindle marketplace.  Over time, you can build up dozens of books for sale, and if they even make one sale per week, it will add up over time.
  • Micro-Niche Blogs – Find a topic which you feel could be profitable, and make a micro-niche site for it (If you’re not sure what this is, let me know and I’ll write a post on it in the future!).  While micro-niche sites aren’t as profitable as they once were, they can still bring in passive income when done properly.
  • Create Authority Sites – Choose a topic which you are interested in, and start building an authority site.  If you can even publish one high-quality article per day, and post it to social media sites, you can start earning income from the site quite quickly.
  • Create Information Products – You can partner up with an experienced marketer, and offer to create high-quality information products for them to sell.  Agree on a split of the profits, and let the marketer get the sales for you.
  • Flip Sites – Create a high-quality website, add a few dozen pages of great content and wait until it begins getting traffic.  Once it is ranking for some great keywords, sell the website to someone else.  It is often possible to make hundreds (or even thousands) of dollars on a great site.

You can make money from micro-niche sites or authority sites by either promoting affiliate products, or using advertisements from Google’s Adsense program.  You can also create your own information product or even a course, and promote it to the people who visit your site.

Remember, because you’re a writer already, it will cost you virtually nothing to get these types of things up and running.  Most people who aren’t writers have the added expense of paying a writer for every article they publish, but you can do it for free!

Offer Additional Services

If you want to diversify even further, you can start offering additional services to your list of customers.  Many people who are paying for you to write content, for example, will also need the services of someone who is an expert with search engine optimization (SEO).  If you can learn some effective SEO strategies (they aren’t that hard, and they rely mainly on writing) you can begin offering SEO services as well.  This is quite a lucrative business, and since you may already have some clients who trust you, it shouldn’t be too hard to get started.

Creating a website from scratch is extremely simple when using WordPress.  Consider offering a website creation service.  This can be extremely profitable, especially if you are able to market it to local businesses.  You can charge $250-500+ for a simple WordPress site, and local businesses will be happy to pay it.  You can then turn them into writing clients when they are ready to add content to their pages.

Get Creative

While I have listed a few different options to give you some ideas, the point of this post isn’t really to tell you how to diversify.  It is simply to illustrate the fact that as a writer, you have a unique ability to make money online in ways most people simply can’t.  Get creative.  Think about what types of things you can write about, and how to make money with them.  Don’t be afraid to give something new a try.  As a writer, you can try new things with minimal expenses.  If you fail, you are out maybe $20 for a domain and hosting.  If you succeed, however, it can lead to a significant income to compliment what you’re earning from your freelance writing.

If you have any ideas on how you can make some extra money, whether it is using your writing skills or not, why not share them below?  Maybe you can get some input or encouragement!

Thanks for reading this post, I hope you found it useful. I'd love to hear what you thought about it in the comments below. If you're interested in publishing this, or any of my content, on your site I'd love to hear from you. Just contact me using my syndication request form HERE.

Also, If you're interested in receiving an occasional email from me with great information on how to write for money online, submit your email below. You'll also get a copy of my free report, "A Step-by-Step Guide to Finding & Landing Private Clients." Thanks again!

Michael

Comments

  1. Joyce says

    Thanks for these ideas! I just started website creation and I want to implement some of your other suggestions. There is also social media management but I haven’t tried that yet.

  2. Hannah says

    Just one complaint with this advice – I’m well aware that people who buy my articles are making a lot more money out of them than they pay me. But that’s generally because they have a product which my article is helping them to sell. I can’t write the kind of articles I write for my clients for myself, because I don’t have a dentistry practice or real estate business or amazing new product that I’m trying to sell to people.

    I’ve tried creating niche websites and blogs to make money out of affiliate marketing or Adsense, but it doesn’t bring in anywhere near as much cash as writing as a service for businesses. I guess you have to strike it lucky, keep trying topics and hope that something will take off, but I prefer the stability of 8 hours a day writing articles for an immediate return. Remember what they say – the people who made the most money out of the gold rush were the people selling the shovels, not the average prospector.

  3. Valerie says

    Very informative article. I love the ideas.Being a newly published author I can use some of the ideas you shared to earn the income I want…bless you

  4. says

    In addition to being a writer, I recently began offering my services as an Author Consultant. I actually “stumbled” into this type of work. I never considered doing it. Since all three of my books have become best sellers on Amazon, an author hired me as a consultant to help her to plan her book launch. A few days ago, I heard about a wonderful opportunity to be interviewed on a podcast that will be broadcast to authors who are looking for help with their book launches. So, I have added consulting to my list of services.

    I am also working on creating an ezine (an online magazine) that’s similar to a newsletter that contains other writers’ articles in it. All of the authors who’s articles are published in the ezine, including myself, will help in promoting the ezine to our mailing lists, on our social media pages, etc. so as to help each other get as much exposure for our books as possible. I think we can reach a niche audience of hundreds of thousands of people each month with the ezine.

    These are just a couple of additional ideas that I’ve been working on lately to increase my income.

  5. says

    Great article, Michael. I’ve been able to supplement my income by proofreading/editing student papers. I recently did this for a thesis submitted by a physical therapy student. English is her 2nd language. She was thrilled when her thesis was accepted. Now I plan to reach out to area colleges and offer my services to students who could use some help with English and grammar.
    Shauna L Bowling recently posted…7 Useful But Little-Known Facts About Kitchen Scraps and How They Can Improve Our EnvironmentMy Profile

    • says

      I’ve never gotten into writing/editing school work, but from what I hear, there is a HUGE market for it. And, if you are good at it, you can make A LOT of money. College kids especailly are more than happy to pay BIG money for a high quality paper that will ‘save their grade’. While some of them are poor, a surprising number of them have plenty of free cash (usually either from their parents or their student loans). Good luck, and keep us up to date with your successes!

      Michael

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