So you want to be a writer, huh? Writing is one of the most amazing things you can do in your life. You are expressing your values using words as a medium.
According to “The Independent Homeschool,” writing is the toughest of the 3 R’s (reading, writing, and arithmetic). You must make countless decisions just to write one paragraph.
Today, I want to discuss some concepts to consider if you want to start writing. It isn’t all rainbows and butterflies, but it can be more fun with the right mindset.
How to Create Passive Income 102: For Intermediates
Why I became a writer. I started writing simply because of passive income and creating something from my mind that makes me money. The idea kept me up at night.
I first thought about creating passive income while reading the book “Rich Dad’s Guide to Investing.” Writing is a form of investing to go along with business, dividends, and real estate.
I did not start writing for the money—passive income is much different. If I wanted the money, I would have become a ghostwriter or published articles on Seeking Alpha or Medium platforms.
Passive income requires much more strategy than exchanging time for money. To build passive income, you must add value to someone in the future; therefore, you must think ahead.
How to Create Passive Income 101: For Beginners
Building your platform. There are many ways to write for someone else; however, you won’t be paid much in the grand scheme.
Now, if you write for money, you can parlay that into passive income by investing in dividends. For example, if you made $400 writing a blog post, you could invest that into preferred shares.
If you build your platform, your writing becomes a form of passive income called royalties. Building a platform via books, blogs, YouTube, or podcasts will take immense work.
However, once you have a platform, usually 5-10 years later, you can build unlimited income streams using it as a base of operations.
What Gets Rewarded Gets Repeated
My writing platform. I decided to start with a blog as my base of operations. I started a content blog instead of a commodity blog.
Commodity bloggers use search engine optimization, keyword research, and advertising to attract people to their sites.
Content blogs grow much slower because you want people to read your words. You have a voice and opinion that attracts people slowly via word of mouth.
Here are two headlines that showcase the difference between the blogging styles:
- Commodity blog: How to Create a Website using WordPress.
- Content blog: Why you need to create a website to secure a better retirement.
Which headline will attract the most attention from Google Search? However, which will prove the most useful to someone looking toward retirement?
Why I Subscribed to Kindle Unlimited as a Content Creator
Building a content blog will grant you access to higher income potential, albeit ten years later.
Once people love your voice, they will pay for the products you present them. Think of your favorite podcaster, YouTuber, or author. How many products have you purchased from them?
The grind of your life. Hopefully, you’re considering starting your own platform. Be warned; writing is not for the faint of heart.
You must go on the passive income grinder just to make a name for yourself. I had 1,100 blog articles within 2.5 years. I also have 700+ books on Amazon.
The only way to remain relevant as an author is to keep writing. There is no better advertisement for your old work than your new work.
Dividends vs. Capital Gains 2
However, once you build a substantial collection of articles, books, or other media, you can slow down a little. For example, I release a book every day. I could easily shift that to one every two days.
That would cut my grind in half and give me twice as much free time. Writing allows you more freedom in the long term but is a major grind in the present.
I wrote the Blogging vs. YouTube series (part 1, part 2, part 3, part 4) to compare the long-term benefits of writing and video. Writing is the better platform if you plan to travel and work from anywhere in the world.
If you want to make millions of dollars, YouTube is the better choice. Writing is a great tool for people with busy households and chaotic schedules, plus you can use Google Search to drive traffic (instead of the YouTube algorithm).
Build Wealth Slowly
You’ll become more than a writer. But writing is only part of your journey to financial independence. You will need to become so much more than a writer.
On my journey, I learned how to set up a website, deal with technical issues, create book covers, run a Facebook group, publish to Amazon and Direct2Digital, and use Pinterest.
If this intimidates you, perhaps you will want to write under someone else’s platform. I cannot describe the pride you’ll get from doing these things because most people will never understand.
I can hold my beautiful books and see that I created them. I come home from work and find my books or blogs have earned me money—the definition of passive income.
From $28 to $700/month in Passive Income in Two Years
I am in the writing game for the long run. I want to leave my family an empire that distributes passive income for their entire lifetimes.
Conclusion. Becoming a writer and building a unique platform is one of the most challenging things you can achieve. Most people will quit after 50 or 60 articles.
But if you can stay the course, your audience will reward you with everlasting support. How badly do you want to earn passive income while making a difference in people’s lives?
Sell Your Creativity for Passive Income
I’m on the other side. I was once like you, but I decided that retiring overseas on royalties was my future. I am now living the passive income dream.
Yes, I still have a full-time job, but my platform and influence grow daily. If you can see your future, you can decide if writing can help you achieve your goals.
Few people can release a book or start a blog; consider yourself one of the few. However, even fewer can become profitable in these endeavors. Do you have the fortitude to stay the course? Good Luck!
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