5 Steps to Start Making $10,000/Month Writing Online

Ali Abdaal | | Topics: writing, online business, entrepreneurship, digital marketing, content creation

Video’s main points

In this video discussion, Ali and Nicholas Cole share insights on how to build a successful online writing business, debunking myths around the necessity of large audiences and exploring various actionable steps for aspiring writers. Key points include identifying information advantages, the importance of targeting business clients over individual consumers, using free work as a marketing tool, the effectiveness of a problem-pitch approach in client meetings, and generating leads through personal networks before moving to cold outreach.

Unlocking the Potential of Online Writing

If you’ve ever considered ways to make money online, you’re not alone. Many people think about avenues like drop shipping, course creation, or becoming a part-time YouTuber. However, one of the most powerful and often overlooked opportunities is digital writing. Unlike traditional writing—which might require you to publish novels or work as a journalist—digital writing offers a flexible potential to earn substantial income. Skilled digital writers can earn six figures annually, or sometimes even seven figures, and they can do this from anywhere in the world while setting their own schedules.

Despite the lucrative potential, many aspiring writers struggle to find a starting point. Common questions arise: How many followers do you need? Do you need to be an expert? Most importantly, how do you find clients willing to pay you for your writing? In this article, we’ll break down the actionable advice shared by Nicholas Cole, a leading expert in digital writing, on how to build a $10,000/month writing business from scratch.

Myth-Busting: The Reality of Online Writing

The first myth to dispel is the belief that you need a massive audience to start monetizing your writing. Many individuals mistakenly think they must have a million followers before they can generate income, leading to anxiety about public speaking and performance. In reality, you don’t need that kind of reach. Even having 1,000 dedicated followers can be sufficient.

Instead of focusing on audience size, aspiring writers should concentrate on providing services rather than selling products. While products like eBooks and courses seem like straightforward income sources, they often require extensive sales volume, which can be challenging. Consider this: if you sell a course priced at $200, how many of those do you need to sell each month to reach a satisfactory income? The answer may surprise you. In contrast, selling a service allows you to charge clients directly based on the value you provide, thus requiring fewer sales to reach your financial goals.

Identifying Your Information Advantage

The first actionable step is to identify your information advantage. Analyze your unique experiences and skills. For instance, if you’ve worked in a specific field, you possess insights that can be beneficial to others. Even if you don’t feel like an expert, remember that you don’t need to know everything—just more than the average person.

For instance, a doctor may feel that their medical knowledge isn’t unique because they’re surrounded by fellow doctors; however, when viewed from a broader perspective, they are experts relative to the general population. Recognizing your qualifications can unlock various opportunities to help others.

Targeting Businesses Instead of Individuals

Another significant point to consider is that targeting businesses often yields higher revenues. As an example, rather than offering tutoring services to students, aim to provide specialized knowledge to high-profile clients or startups who can afford to pay premium rates. Businesses understand the value of expert insight and are often willing to invest heavily to resolve their issues.

Understanding your target audience is essential. Individuals generally view prices differently than businesses. Therefore, while charging a student might yield $50, a small or mid-tier business may easily allocate several thousand dollars for the same service, provided you frame your offering as a solution to their problems.

Utilizing Free Work as a Strategy

Initially, it may be worth offering your services for free. This might seem counterintuitive, but the primary goal at this stage is to build credibility and gain experience. Free work acts as a marketing expense, helping you gain valuable testimonials and shifting from a novice to a more credible professional.

Engaging with clients for free can lead to future paid opportunities, as happy clients will often turn into referral sources. They may not need to know the specific payment terms; what matters is the quality of your work and the resulting testimonials that showcase your value.

The Problem Pitch: Crafting Effective Proposals

When pitching your services, a disciplined approach is to start with the problem script. Identify pain points your prospective clients might have and present compelling solutions to them. For example, if you’re a doctor, articulate common concerns patients have and how your writing can help address those issues. This shifts the conversation from merely selling a service to educating the client about a problem they might not have recognized.

Your aim should be to guide the conversation toward how your assistance can provide value. The goal is to inspire the client to inquire about your services rather than feel like they’re being sold to. This consultative approach can create a situation of mutual benefit where you’re providing value while also establishing a potential client relationship.

Lead Generation: Proactive Outreach

Effective lead generation involves reaching out to your existing network before targeting cold leads. Personal connections yield better results, so compile a list of approximately 50 warm leads—that is, people who may need your help or who can connect you with others in need of your services. If cold outreach is necessary, aim to contact at least 100 well-researched prospects.

It’s vital to approach each individual personally, doing thorough research rather than using automated outreach tools, which can come off as insincere or as spam. The key to success is to understand the people you reach out to and tailor your message to showcase how your expertise can assist them. Once you’ve done this consistently, you can gradually incorporate automated tools to streamline your outreach further.

Concluding Thoughts on Building an Online Writing Business

Establishing a successful online writing business is entirely feasible if you embrace the process outlined here. By identifying your strengths, understanding the market dynamics, leveraging your network for leads, and providing substantial value, you can cultivate an income stream from writing. It’s essential to maintain a mindset focused on education rather than sales and to position yourself as someone who brings solutions, ultimately leading to long-term relationships with high-paying clients.

For those passionate about writing and excited to explore this route, begin today. Start analyzing your skills, reaching out to connections, and identifying potential clients who might benefit from your unique expertise. The opportunities are limitless if you take the time to navigate this exciting field!