If you’re thinking of publishing a book, keep in mind that very few writers become rich off writing. Most writers who end up working full time either publish a series of best sellers, write for businesses, combine writing with public speaking, or combine writing with editing, marketing or some other element of the book industry. It is a tough act to simply make a living off writing.
Therefore it’s important to keep your finances in the picture with writing. Are you writing on the side as a hobby? Are you making it part of a larger business venture? Are you planning on hosting events and seminars that will help pay the bills? Are you building a relationship with a publisher to you’re guaranteed a steady stream of work.
Not only do writers need to be prepared for a paltry profit, they need to also be willing to give some of their writing away for free. If you’re doing a blog or newsletter, then you’ve got a great start at building up your reputation and expertise. It’s also important to publish articles online because it’s an easy way to gain exposure.
However, at some point you’ll need to start thinking of making money. Part of your leverage will be the quality of your work that you gave away for free. And that is the key here: treat every assignment as a key one for your career. If you’re not paid today, you may be paid five years because of that article.
The hourly break down for writers is never pretty, but keep the big picture in mind. You’re building a portfolio and momentum.