Sunday, December 7, 2008

Ways to lose money!


While there are a number of ways in which to earn money as a freelance writer; there are an equal number of ways to lose money trying to become one. Hands up whoever has paid money to 'writing gurus' who promise you'll be earning fantastic sums of money shortly after you sign up for their course, seminar, buy their ebook etc. And the desire to make it rich, quick, is usually so strong within all of us, that we are suckers for schemes such as these.

What if I told you there was indeed a formula, that all successful people use, to strike it rich? How much would you pay me? I'm not asking for money (though maybe I should ;), but read the post and you'll see what it takes to lose money, and your own personal formula to make money.

4 Easy Ways To Lose Money:

1. E-books: I write ebooks for clients, and this is a great way to make money. Select your area of expertise or topics which interest you, as you'll need to spend some time researching them. And then apply for jobs to 'ghostwrite' ebooks. A good writer can make around $10 per page, which would translate as $800 for an 80 page ebook. A well established ebook writer can command more per page; so be ready with all your client testimonials and samples if you have any.

What is easy to lose money on is writing an ebook and then trying to sell it. Sure, you may have the knowledge and expertise to write a book, but by the time you've finished producing it and promoting it, you've not only cut into time that could have been spent earning money, but you've also probably put you hand into your pocket for up to $2000 if not more; just to get it out there. There's a lot of competition folks, and your idea is not necessarily the only 'original' gold mine out there.

2. Writing Gurus and Get Rich Quick schemes
: You can become a writing guru and make a lot of money (assuming you have followers). But you can also follow a so called expert's advice and lose a lot of your own. Always research any site which asks you to pay for expert advice. And if you can't verify any of the client testimonials posted; then don't bother bringing out your credit card.

3. Blogging
: There are blog sites upon blog sites which will tell you how much money you can earn just by setting up your blog and promoting it. But it's very rare to make a lot of money through a blog. Not to say it can't be done, but it take a lot of time and a huge following to get the amount of money most blog experts will tell you you can. A blog however is a great way of getting starting and building up a following.

4. Writing a bestseller
: We can all dream (and we should). But the truth is, writing a novel is no easy feat. And producing a bestselling novel is quite a task. You need to be determined, prepared for setbacks and rejections and have some amount of spare time to devote to it. Quitting your day job (even if it's one as a freelance writer) to write the next bestselling novel is not an option for everyone. If you do want to give novel writing a go, visit http://www.nanowrimo.org - The National Novel Writing Month. You'll be forced to write a novel within one month and that should give you an idea if you're writer material.

So, as promised. How do you get rich? Hard work, dedication, patience and commitment. Add motivation and mentoring into the mix and you've got your formula for success!

Happy writing!

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