Latest / The Daily Writer / Milestone #6: Create Streams of Income Based on Your Writing & Services
Transcript
- 0:12SPEAKER_00: Hey my friend, thanks for joining me on today's episode of the Daily Rider podcast.
- 0:16SPEAKER_00: Actually, you're not joining me on this episode, I guess.
- 0:19SPEAKER_00: You're joining me for this episode.
- 0:21SPEAKER_00: I guess prepositions are important.
- 0:23SPEAKER_00: Yes, ladies and gentlemen, this is a writing podcast where I apparently don't know my own prepositions.
- 0:27SPEAKER_00: All right, let's dive in here.
- 0:29SPEAKER_00: Today's episode is part of a series we're doing on the writer's path, which you probably already know.
- 0:34SPEAKER_00: So if you haven't listened to the whole series, then go back to the beginning and listen to this.
- 0:38SPEAKER_00: It starts on June 27th.
- 0:40SPEAKER_00: You can listen to the whole thing, and I think you're going to get a lot out of it.
- 0:43SPEAKER_00: I feel like I've said that for like two weeks straight.
- 0:45SPEAKER_00: I guess I pretty much have.
- 0:46SPEAKER_00: But, you know, people pop in and out of this podcast.
- 0:48SPEAKER_00: They listen to random episodes sometimes.
- 0:50SPEAKER_00: So I kind of feel like I have to say it.
- 0:52SPEAKER_00: So if you haven't listened to the whole series, go back to June 27th.
- 0:55SPEAKER_00: At the beginning, you're going to get a ton of value out of it.
- 0:57SPEAKER_00: All right, let's dive into today's episode.
- 1:00SPEAKER_00: I feel like I need some more caffeine, or maybe I've had too much today.
- 1:02SPEAKER_00: I'm not sure which.
- 1:03SPEAKER_00: Anyway, let's dive in.
- 1:05SPEAKER_00: So far, we have talked about getting clear on your message and your audience.
- 1:09SPEAKER_00: We've talked about choosing your platforms, writing consistently, publishing books, and also expanding your network.
- 1:15SPEAKER_00: And once you have those things in place, then you're ready to take advantage of milestone number six, which is creating streams of income based on your writing and services.
- 1:23SPEAKER_00: All of the successful writers that I know personally have multiple streams of income.
- 1:28SPEAKER_00: And what this does is it mitigates risk and it lets you grow several streams of income that can support you and your family.
- 1:35SPEAKER_00: And those streams of income are also intertwined.
- 1:38SPEAKER_00: And if you think like a business owner, you can always create new streams of income based on your content and things that you're currently doing.
- 1:45SPEAKER_00: Now, as I mentioned before, I believe that many writers should consider both sides of the equation, doing client work as well as focusing on income based on your own intellectual property.
- 1:57SPEAKER_00: And I've mentioned this before, I think a few episodes back.
- 1:59SPEAKER_00: I like doing both things.
- 2:01SPEAKER_00: My client work helps make my own stuff better because I learned stuff from my client work that I wouldn't learn just doing my own stuff.
- 2:07SPEAKER_00: But I learned things from doing my own stuff that I wouldn't learn doing client work.
- 2:11SPEAKER_00: So each of those sides of my business makes the other side better, I believe.
- 2:15SPEAKER_00: That's why I think if you're only doing client work, then you need to start really building your own stuff.
- 2:20SPEAKER_00: And if you're only doing your own stuff, I think it might be worth considering to do some client work like freelancing or editing or ghostwriting, or there's lots of different ways you can do client work on the side.
- 2:30SPEAKER_00: If that's something that you want to do and you want to increase your income.
- 2:33SPEAKER_00: Now, this whole idea of developing streams of income could take up a whole series of its own.
- 2:38SPEAKER_00: I mean, my goodness, it could be a whole podcast.
- 2:39SPEAKER_00: And probably some people do have podcasts just based on streams of income.
- 2:43SPEAKER_00: But for now, I just want you to grasp the idea that making money from books is only one of many, many ways to make income with your writing and your content and your ideas.
- 2:53SPEAKER_00: Now, the main challenge that we face with this is that most writers don't think like business people.
- 2:59SPEAKER_00: And that can be a huge, massive challenge.
- 3:02SPEAKER_00: It is so easy to focus just on the creative aspect of writing.
- 3:06SPEAKER_00: But you've also got to think like an entrepreneur who is running a business because you are an entrepreneur who's running a business.
- 3:13SPEAKER_00: You are a business person.
- 3:14SPEAKER_00: If you want to make money with your writing, then you have a writing business.
- 3:18SPEAKER_00: And the sooner that you accept that, and not just accept it, but the sooner that you embrace it, that you have a business, you're a business owner, you're an entrepreneur, you're a business leader.
- 3:27SPEAKER_00: That to me is a really, really exciting concept because it means you are the captain of your own ship and you've got something that you're building that is yours that does not belong to anybody else.
- 3:36SPEAKER_00: That to me is a really exciting idea.
- 3:39SPEAKER_00: So, with that said, I want to ask you the question, how comfortable are you with the concept of creating multiple streams of income based on your writing?
- 3:47SPEAKER_00: I hope that you're getting more comfortable with it as we go through this series because I want you to think of yourself as a business person who is also a writer, not just a writer who writes randomly or for the heck of it.
- 3:59SPEAKER_00: Think of yourself as a business person.
- 4:01SPEAKER_00: Okay, thanks for listening to this episode.
- 4:03SPEAKER_00: Tomorrow we're going to look at the final milestone in the writer's path, which is all about habits.
- 4:07SPEAKER_00: And I'm looking forward to that one, and I hope that you will join me there.