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/

---

Hey Cient, this is Me! Find Your Writing Voice and Sell Yourself

In a crowded market, clients will be seeking personality as... Read More

To Transcribe or Not To Transcribe Interviews?

11 Secrets from an Experienced InterviewerOne of the unwritten rules... Read More

Writing Helpful Help ? A Minimalism Checklist

User documentation is all too often written by programmers for... Read More

Six Tips for Creating More Lifelike Story Characters

Working on my first humorous novel, I started with a... Read More

Top 10 Common English Goofs by Web Authors

In reviewing and browsing web sites over the years, I... Read More

Writing Made Them Rich #3: Richard Bach

One day in the mid-1970's a young man stumbled into... Read More

Memoir Writing Help, Memoir Writing Ideas

You might not need any memoir writing help, per se,... Read More

Your Words Will Determine Your Business!

Be careful when you write.Words you use, sentences you phrase... Read More

How To Co-Publish For Profits!

The Benefits of Co-Publishing There are a number of publishers,... Read More

Where to Look for Your Next Project when You?re Writing for Profit

When my first book "Starting Your Own Business" was published... Read More

How To Write to a Word Count

You've finished your story, and you're pretty happy with it.... Read More

Before You Write Your Book, Organize Its Parts - Part 2

If you are a serious writer who wants to publish... Read More

Should You Hire a Ghostwriter?

Have you heard the term 'ghostwriter' and wondered what they... Read More

Childrens Stories - The Essentials

There is no specific formula for children's fiction. There are,... Read More

Is Someone Plagiarizing Your Work?

About two weeks ago I received an article submissionthat immediately... Read More

Are You a Freelance Writer? - Then You Need a Website

As a freelance writer, it is important to present yourself... Read More

Story Structure - Final Conflict

Beyond three and four act story structure, lies the Hero's... Read More

You Cant Always Believe What You See On Your Computer Screen

You may not remember this, but in the early days... Read More

Advice for New Writers

With the advent of email communications in the workplace, it's... Read More

How To Publish Your Own Newsletter

With the expansion and diversion of businesses, manufacturers, and even... Read More

Writing Tips for your Journey

Tips for your writing journeySo, you'd like to be a... Read More

10 Things that Keep You from Writing Your Book? and What You Can do About It

9 out of 10 professionals and small business owners have... Read More

Local Knowledge: Background and Historical Setting in Novels

You're writing a story set in your local city, but... Read More

71 Ways For A Writer To Make Money

There are so many ways for writers to make good... Read More

Becoming A Successful Author: The Price!

So you want to be a successful author? You want... Read More

A Few Brief Tips to Deal with Writing Rejection

What to do when you get rejected.You've just finished your... Read More

Have You Completed A Character Questionnaire?

Creative Writing Tips ?Complete a character questionnaire for each of... Read More

Write A Better Newsletter!

You've decided to write your very own Newsletter to promote... Read More

A Book Note Vs a Book Report

IntroductionSince our early days of elementary education we have been... Read More

Writing Without Style

Style manuals are all well and good, and in fact,... Read More

Story Building with Imagination

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

7 Journaling Tips

Set your journal or diary where you will see it... Read More

Mexican Living: Lets Be Perfectly Clear

Readers often send me interesting and exciting e-mails about the... Read More