5 Ways to Make 6 Figures as a Writer
Bust through the typical stereotype of the "broke" artist to make good money as a creative.
I’m sure most of you have all heard the stereotype of being a “broke” writer. Or, on the flip side, you’ve heard that author who hits it out of the park on their very first try. But rarely is there a pragmatic, sensible, consistent approach to making GOOD money as a writer.
Like many people, I grew up thinking of writing as more of a hobby than a profession. It wasn’t until I started studying the industry and treating it like a business, that I made multiple six-figures in less than a year once I understood what game I was really playing.
While I envy people with normal jobs and benefits, I knew early on that a regular job just wasn’t for me. But I also knew the whole “struggling artist” look wasn’t one I wanted either.
So here, I wanted to share five solid ways to get you into that six-figure bucket. And below is a podcast I did on just this very subject if you want to take a listen! 👇
If you want to make solid money as a writer, I think this is the best place to start:
Figure out what you’re good at… and what you enjoy doing as a writer.
Then, it’s onto math. Everything is just numbers, right? So if you have a goal to make $100k, break it down per month. How do you achieve $8k per month, every month?
Here are a few of my favorite ways.
Sell your book for six figures. Oh, this sounds easy enough, right? Ha! When you put all of your focus into just one product, you really can sometimes land the big book deal. If you’re writing a nonfiction book, this is way easier. You build your platform. You create the demand, so publishers come knocking on your door. But if you’re a fiction writer, this can be trickier. You might think you’ve written the best book ever, but unless the market wants it, you probably won’t collect that fat check. It’s vital to see what’s selling. What books are getting picked up by book clubs? What authors are making the big bucks? Do your homework and find the common threads.
Create digital courses for passive income. I know, I know. Does the world really need another digital course? Probably not. But there are so many entrepreneurs who make amazing passive income streams, because they’ve figured out what their audience wants and then create a digital course to help them achieve it. There are great examples of this, but think about what you might be able to offer in an automated way. And maybe it has nothing to do with being a writer, and that’s okay. Playing the digital course game can absolutely help set you up for making money while you sleep.
Start a writing coach or developmental editor business. If you really love to write, chances are you might be a decent editor or coach. I’ve built a strong consulting business by simply sharing what I know and how I know it. Writers are always looking for solid editors to give them feedback. Trying your hand at editing to see how you fare is a great place to start. While copyediting and proofreading are also great, being a developmental editor usually pays better (between $5k and $7500 a book). Find other editors or coaches who make a living this way and ask them how they got started.
Become a ghostwriter. Ghostwriting isn’t for everyone, but it often pays well ($40k-$60k per book, sometimes more). If you work on two books per year, you’ve hit your six-figure mark. Again, if this is something you want to try your hand at, find people who are doing it successfully (or companies!) and see if you can shadow them or apply for a job.
Land a content management or editorial job. If you are someone who isn’t cut out for freelance life, there are tons of writing/editing jobs out there that pay well and grow your skillsets. Often, you can find smaller companies or entrepreneurs who need strong writers or content managers. It’s a wonderful way to make decent money and figure out what skillsets you enjoy best.
Whatever you decide, there are ways to make this little thing called writing work for you. What are your favorite ways to make money as a writer? I’d love to hear.