The Cost of Being a Writer

You are the only one who knows what being a writer means to you.

You are the only one who knows whether you consider it to be a career, or a pleasant hobby.

And therefore, you are the only one who can judge how much you are willing to invest in your writing business.

In this article, we're going to talk about cost in financial terms. Not the cost in time; not the cost in sleep; not the cost emotionally. We're just talking dollars and cents. And we're not going to discuss the cost of a writer's tools (computer, internet access, printer, software), because that has been dealt with in another article. This time, it's all about building your knowledge and expertise.

First, decide whether being a writer is, for you, a career or a hobby. Is it a business or a pleasant way of whiling away your time? If writing is just a hobby, and that's all it's ever going to be, this article is not for you. You can choose to invest money in a hobby, or not. You can pick it up and put it down. This article is for those who are serious about their writing and want to build a business, brick by brick.

1. Setting a Budget

OK. We've established that you are in BUSINESS. That means that you are prepared to invest money as well as time. If you are time-rich and cash-poor, then you can go the long way round and it will cost you less. If you are time-poor and have funds at your disposal, you can cut the learning curve by buying books, enrolling in courses, subscribing to industry magazines and attending seminars. If you are rich in both time and funds, then you're luckier than most.

Look at your income and savings and decide how much you are prepared to invest in your writing business over the course of 12 months. $500? $1,000? $2,000? $5,000?

Let's jump in and look at the biggest figure first. $5,000 will buy you a lot of expertise and networking via seminars, writing products and coaching over a year. It might seem like a lot at first - but $5,000 is just $416 a month - $104 a week. Many people pay more than that off a car loan. Many people spend that on a meal out for two once a week. And countless people spend far more than that on clothes.

At the other end of the scale, $500 is less than $10 a week. That's barely noticeable to most of us. Yet you can subscribe to writers magazines and get some quality critiquing of your work for that amount. You can attend a number of one-day or weekend workshops.

If you still are undecided, think about how much money other businesses invest in their start-up operations and ongoing training. Then look around to see what would help you grow MOST as a writer.

  • A writing course?

  • A 2- or 3-day seminar with lots of networking possibilities and big-name writers, editors and publishers?

  • A critique service to help you with your manuscript?

  • Books, magazines, and software to help you grow?
It's up to you. Once you have decided (a) what you most need to develop your skills and (b) how much you can allocate to your writing business, be firm about sticking to it. Nothing less than an emergency should deflect you from your course.

2. Paying for Your Business Investment

  • You can give up something that is not as important to you as your writing business. New clothes, eating out, Starbucks coffee, a gym membership... there are plenty of ways to swap one expenditure for another.

  • You can get a pert-time job to fund your business. If you want to invest $5000 over a year, you need to make $104 a week. What can you do? Join a party-plan business and do one party a week? Offer a resume-writing service? Clean houses?

  • Do some gardening; walk dogs; clean cars; wait tables; offer a consulting service in your area of expertise. Depending on your skills and the demand for your services, it might take you a day to make $104 or you might do it in a couple of hours.

  • You can ask for money towards your writing business instead of gifts for your birthday, Mother's Day, Father's Day and Christmas.

  • You can volunteer at a writers' centre in exchange for free attendance (or a reduced fee) at workshops.

  • Join writers' organizations and volunteer to be on the organizing committee for conferences and seminars. This does not always mean a reduced fee, but sometimes does.

3. Re-invest Early Profits for a Faster Business Growth

Most healthy businesses do this. As you build your skills and start to sell your writing, money will begin to flow in instead of out. It probably won't be much at first - but think about re-investing to *further* develop your skills and expertise.

Here's just one example: I've had several writers contact me, after being to a writers' seminar or conference, to ask about writing an article for the Writing For Success newsletter. They are being smart: parlaying their new-found knowledge into income, by passing on what they've learned to others. You could try this too... and use the payment to buy an e-book on writing, or put it towards a seminar.

What if you write an article but the market doesn't pay? See if you can swap an article for a free subscription to a writers' newsletter or a membership site.

4. At The End of 12 Months, Assess and Refine Your Business Plan

It makes good business sense to track your income and outgo. At the end of 12 months, assess the following:

  • how much you have invested

  • the return on your investment in (a) dollars, (b) increased knowledge and (c) new relationships and contacts that can help you build your writing business.

  • decide on your next step(s) and how much you will invest in your business during the ensuing 12 months.
You can, of course, check on your income/outgo/results at the end of 1 month, 3 months, and 6 months as well.

You'll find that a definite plan for investment in your writing business will give you not only a greater sense of control, but a better sense of where your money should be spent for development.

A couple of quick examples:

  • $500 spent on an intensive novel critique (from a reputable critique service or freelance editor) can save you months or even years of time muddling along on your own not knowing where you're going wrong. This can mean a faster sale and a quicker start to your career as a published writer.

  • $1000 spent on a seminar or conference can result in your making just the contact you needed to get your novel in front of the right editor. Don't underestimate the importance of face-to-face contact.

(c) Marg McAlister

Marg McAlister has published magazine articles, short stories, books for children, ezines, promotional material, sales letters and web content. She has written 5 distance education courses on writing, and her online help for writers is popular all over the world. Sign up for her regular writers' tipsheet at http://www.writing4success.com/

shuttle from O'Hare Brocton .. Lockport Chicago limo O’Hare
In The News:

Experts say hackers who used to focus on Windows operating systems are increasingly targeting Apple IDs as part of a new phishing campaign.
Unitree, a Chinese robotics company that developed a backflipping robot, has now introduced a humanoid robot capable of doing a side flip.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
According to the FBI, cybercriminals are sending extortion letters, threatening to release victims' sensitive information unless a ransom is paid.
FireSat is a satellite project designed to detect and track wildfires early, aiming to detect a fire that's the size of a classroom within 20 minutes.
Tech expert Kurt “CyberGuy" Knutsson reports that researchers have uncovered a Chrome vulnerability used in a cyber espionage campaign.
Preserving voicemails securely on Android: Tech expert Kurt “CyberGuy" Knutsson reveals easy methods to keep memories alive forever.
This phishing kit bypasses 2FA via session hijacking and real-time credential theft. Kurt “CyberGuy" Knutsson offers four ways to stay safe from Astaroth phishing attacks.
Tech expert Kurt “CyberGuy" Knutsson discusses Joby Aviation and Virgin Atlantic planning to launch 200-mph U.K. air taxis linking airports and cities.
Fake Apple virus warnings, security alerts and messages are tactics used to prompt you to call a number or click on a malicious link. The CyberGuy explains how to protect your devices.
The combination of artificial intelligence and neuroscience allows a paralyzed man to manipulate a robotic arm by using his brain to imagine movements.
With the help of artificial intelligence, sophisticated fraud techniques emerging today are virtually undetectable to the untrained eye.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents
If you need to free up space on your Mac, consider deleting duplicate photos in your image library. Apple makes it easy to do, and the CyberGuy explains the process.
Microsoft is discontinuing Skype in May after 22 years of service. Kurt the CyberGuy addresses other options for internet-based phone and video service.
Tron 1, a Chinese company's two-legged robot, is versatile and can walk, roll and pivot, even on rough terrain. Tron 1 stands 33 inches tall and weighs 44 pounds.
Hackers are tricking people into installing password-stealing malware by making them press keyboard shortcuts under the pretense of proving they're not bots.
Saving the voices of loved ones can be a comforting way to keep alive memories. Kurt "the CyberGuy" Knutsson explains how to preserve voicemail messages.
Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
The FBI warns that some free online document converters load malware onto people's computers, making their private information vulnerable to attack.
Toyota's compact electric FT-Me is designed to tackle challenges of city living while offering an accessible and eco-friendly transportation solution.
Kurt “CyberGuy" Knutsson says 23andMe's bankruptcy raises data privacy fears: Opt out, download and delete data now.
UBTech and Zeekr unite with AI robot swarms to make car manufacturing faster and smarter. Tech expert Kurt “CyberGuy" Knutsson explains how the process works.
Tech expert Kurt “CyberGuy" Knutsson says Apple's Passwords app had a three-month phishing flaw from iOS 18 to 18.2 patch.
Tech expert Kurt “CyberGuy" Knutsson discusses how this super-small electric mini-truck takes a big step toward production.

Basic Word Processing Tips for Writers

Word processors are so widely used now that I tend... Read More

How to Have an Effective Writing Group

The works you've written are numerous, ranging from short stories... Read More

The Writing Game

There are a lot of tapes and books and CD... Read More

Writers can Grow to be Comfortable with Criticism

On my first newspaper assignment as a critic, I was... Read More

Using Technology to Improve Your Final Draft

One Saturday afternoon, I sat in a packed conference room... Read More

Got an Idea? Turn it into a Novel in Thirty Days or Less!

People can't believe I did it, but I did. I... Read More

How To Write Cover Letters That Work

Sometimes there is confusion about the exact meaning of the... Read More

Get Noticed! Eight Tips to Catching an Editors Eye

The first five pages of a novel are critical.Editors make... Read More

How to Catch the Writing Bug

----------------------------------------------------------Permission is granted for the below article to forward,reprint, distribute,... Read More

Understanding The First Rule Of Writing ? Before You Start The Great American Book

Chaos and confusion come when established rules and procedures are... Read More

Kick-Start your Juices

Listen, consider this scenario.You have a deadline to honour. Time... Read More

Writing Query Letters that Count -- Close the Deal with Your First Letter!

Your query letter can be a deal maker or a... Read More

Story Building with Imagination

In the words of Aristotle, "happiness is self contentedness helping... Read More

A Freelancers Journey, Part One

Today it begins.I have always known I was a freelancer.... Read More

How Are You Plotting?

Creative Writing Tips ?Writing is a creative process and how... Read More

Inspiring the Poet in You!

Poems. Just the mention of them makes me smile. Why?... Read More

Get Creative In The Great Outdoors

Summer's here and the time is write for dancing in... Read More

Turbo Charge Your Career! Write And Produce Your Own Stage Play!

Have you ever wondered how you can adapt your screenplay... Read More

Gut Check: Quitting Your Full-time Job for Your Freelance Career

It's 6:00 p.m. You're dead tired, but instead of an... Read More

You Can Be An Author

"You should write a book." For years, I had been... Read More

Money Trails for Writers

I'm willing to bet that quite a number of you... Read More

Crime Writing Beckons

If your cash is running out fast and you have... Read More

8 Reasons Why A Freelance Writer Should Use the Internet

What a wonderful resource the Internet is!Students find information to... Read More

A Checklist For Drafting Business Letters And Emails

Write Right - You have an all important business letter... Read More

Interviewing an Author: Dont Be Left Speechless

Joyce Carol Oates. Langston Hughes. Anne Sexton. F. Scott Fitzgerald.... Read More

Chicago charter limousine service Hickory Hills ..