Writing is never enough.
If you’re freelancing, especially if you are still charging a fixed price-per-word, I am going to break something down for you that you probably do not want to hear…
Whatever your definition of wealth is, you’re probably not going to achieve it. If you don’t have a clearly defined outcome for what being “wealthy” means to you, you’re always going to be on a grind.
For me, my definition of “wealth” isn’t the same as most people — definitely not society’s accepted definition of the term.
Now, I want to be upfront. I’m as real as I can get with everyone reading this and I want to lay it out in a way that benefits you.
That means I’m never going to climb up on my soapbox and preach to you.
When I write these posts it is almost a therapy for me. It makes me feel good to know I’m helping people.
And I always promise to show up exactly where I’m at. There’s no sugar-coating or trying to make myself appear bigger than I am.
I am, at this moment, a freelance writer just like you.
I have around a dozen clients that I create content for on a price-per-word model.
I have a few clients that I charge package pricing for direct response copywriting.
I’ve been up, and I’ve been down. Both are stories I’ll share with you as time goes on but, for now, I want to let you in on why you need multiple income streams.
And how to build those streams so they sustain you, tap into your writing abilities, and give you back more of your time.
After all, that’s my definition of “wealthy”.
To me, being “wealthy” and “successful” revolves around how many people I can help, while I make money doing it, and it (hopefully) doesn’t require 24 hours a day to do.
I have a life outside of my business just like everyone reading this.
My daughter and I love going to theme parks and exploring those hole-in-the-wall “tourist traps” that most people don’t visit.
I enjoy working on and building cars. I buy cars that are 10 to 20 years old so I can fix them myself. I have aspirations of building custom cars in my garage while my daughter helps out.
It’s a bonding time for me and her.
I want to be able to travel to see my family across the United States and, just maybe, travel outside of the country.
That’s more of a fear of flying than fear of travelling but we all have our phobias.
But, to me, being wealthy is having enough.
Knowing that each day my work fulfills me.
Just being a “writer” or even a “copywriter” isn’t enough to achieve that.
I’m still trading time for money. As long as I have to put in the hours to generate income for my family I will always be in that situation.
It hasn’t always been this way, though.
When I was 24 I started an affiliate SEO business building small 5 to 10 page websites that ranked in Google and generated money on “autopilot”.
Now, the money wasn’t complete autopilot like so many people want you to believe.
It takes a lot of work and effort, along with focusing on the end goal, to build those tiny little assets that generated money each month.
But, once the work has been done the revenue tends to stabilize and the checks do, indeed, come each month.
And it relies on your ability to write blog posts that cater to a specific niche market.
Now, if that sounds confusing, scary, or like it’s too hard right now, don’t worry. I am going to publish a case study showing you how I do it.
But that’s only a second income stream.
There’s freelance writing and copywriting, or trading time for money. And then there’s building small niche sites that can generate $500 to $1,000 a month on their own that do not require you to actively work on them.
As you may have noticed with this site, The High Paid Writer, I’m focused on seeing what’s possible, while designing my lifestyle, and getting away from trading so much time for money.
That means I’m teaching people like you how to do what I’m doing. You get to follow along my journey on the way back up.
Because remember, I’ve been up and I’ve been down multiple different times.
I’ve had the world, and I’ve lost it all. More than once.
If I can help at least one person avoid the mistakes I’ve made while learning how to capitalize on their writing abilities, I believe I’ve done enough on this planet to have made my mark.
So outside of actually writing for clients, and building small niche affiliate websites, what else is there?
How else can you generate income from your writing skills without having to actively be involved?
Well, there’s teaching what you know to people you can help. I will, eventually, be releasing a program that summarizes my 11 years of experience and sell it to people who are willing (and ready) to invest in growing with me.
Most of my content will remain free. I know there are people who are just getting into being a writer that probably aren’t ready to invest yet. That’s perfectly fine, I enjoy helping them, too.
But, since the topic of this post is having multiple income streams, having a private community of writers that I can consistently help, people that I get to see grow firsthand, hear their wins, helping them overcome obstacles, that’s both spiritually rewarding and financially rewarding for me.
I believe that writers need a different type of community. One away from all the “hustle and grind, bro” lifestyle designers that are in the world trying to peddle their wares.
Having that community will be a third income stream for me. But we’re not done there. There is always more you can do.
Once you have established yourself and are surrounding yourself with proven business owners and entrepreneurs, you’re going to get pitched to become a partner in their business.
As a copywriter, a content marketer, and a freelance writer, you are the backbone of their digital business. That means people are going to want a piece of your skills but want you to put your own skin into the game.
Instead of getting paid upfront for your work, you’re going to be embracing delayed gratification and getting paid on the backend. More often than not, these deals are going to be some of the most lucrative you can embark upon.
Taking a percentage of a business that’s bigger than you, because you put your time in upfront, is incredibly rewarding.
That’s something to be reserved down the road, though. I don’t want you to get ahead of yourself because these retainer and partnership deals are few and far between and they require a ton of due diligence on your part.
On top of doing the writing, building small affiliate websites, teaching people what you know, and taking potential partnership deals, the next step revolves around making your money work for you.
That’s where personal finance and investing comes in.
I’m, again, going to be upfront with you. I haven’t been the best about investing in the future or managing my finances. If I did, I probably wouldn’t be here writing this to you right now.
I’m personally taking classes on investing, personal finance, budgeting, and all the other good stuff that comes along with making your money make more money.
I’ll share what I learn as I go and I have a post coming out on personal finance for freelance writers but, for now, I wanted to show you the importance of having multiple income streams.
I also wanted to show you what can be possible when you start embracing the fact that you’re now a writer and that writers can make good money.
They can become “wealthy”. Becoming “wealthy”, though, requires you to define what that word means to you.
To me, it means that I can take a step back and enjoy what I’ve created.
To know that I’m helping people. To know that I’m giving my daughter a future that most kids wouldn’t have. To understand that I am giving back instead of constantly taking.
And, most of all, to know that I can be secure in a career that chose me instead of one that I chose for myself.
Looking back over my life, I never imagined I would become a writer.
I had so many grand plans and schemes, business ideas, and ways to get “rich” one day but life let me know… it was always about the money and chasing that type of life just isn’t a fulfilling adventure.
So, I’m going to leave you with this.
If you’re struggling right now, take your eyes off the day to day work and start focusing further down the line.
Define your goals. What does “wealth” mean to you?
What would your perfect life be if you had it and money was no obstacle?
I’m not talking about being able to go out and pop bottles in the club, buy Lamborghinis, or McMansions on the cliffside in California.
If those are your goals, more power to you. I hope you achieve everything you could have ever imagined.
For me? I’m a bit more conservative.
A nice house, a couple of cars that run, a bank account that grows, working on projects I enjoy working on, helping people overcome obstacles and become better versions of themselves, and to see people I’ve helped become High Paid Writers is my version of being “wealthy”.
It takes work but if you look to the future instead of your day to day, it’s a whole lot easier to just dive in and do what it takes.
As time goes on I’ll break down different ways I’m using my 11 years of experience to create multiple income-generating revenue streams, how I’m saving more while making more, and how I’m getting the most out of this life while I’ve got it.
If there is one thing I can suggest for you, after reading this, it’s to spend some time thinking about what you want out of life.
How can writing help you achieve those goals?
The answers may not be apparent to you right now but I hope to open your eyes to what’s possible as a writer. You really can have it all, if you choose to work for it and have laid out what “all” means to you.
I’m learning that the key to happiness isn’t money.
It’s about being around people you love, that make you smile and enjoy yourself, giving back to people you can help, taking care of yourself physically and spiritually, and not letting yourself stress out over things you have no control over.
If you can define what “wealthy” means to you, I think you can look back at what you’ve accomplished and feel a sense of pride, knowing you’ve done what you could when you could and you’ll have fewer regrets.
Again, I’m writing this for you as much as I am for myself, so I hope it helps open your eyes to at least a few possibilities.
As time goes on I’ll break down the how behind the why and help you elevate yourself above what most people think about freelance writers and copywriters so you can carve your own path into the life you call your own.
Until next time,
Here’s to you becoming a High Paid Writer.