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/

---

Beginnings

Just about everyone is familiar with this beginning: "In the... Read More

Does Your Plot Suit Your Characters And Vice-Versa?

Creative Writing Tips ?When an idea comes to us for... Read More

Business Writing: 10 Great Authors

Great business writers combine narrative skills with sound judgment to... Read More

3 Quick Tips on Plotting Your Book

Plotting a book can seem an overwhelming task when you're... Read More

71 Ways For A Writer To Make Money

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

Learning to Question Your Elephant Child: Who, What, Where, When and Why

Having problems writing? I don't know why. San Francisco Chronicle... Read More

The Daily Rite

If you want to be a writer, then you must... Read More

Revising Your Manuscript: Fourteen Questions to Ask Yourself

1) Can you summarize the story in about a sentence... Read More

Applying KISS Principle in Writing

I have added a new word to my vocabulary. Logorrhea.... Read More

Three 30 Day Journaling Ideas

Here are 3 journaling or diary ideas that can contribute... Read More

Im Just The Writer

Writers are often are greatly surprised or disappointed by how... Read More

Getting Looked Over, Without Getting Overlooked: Writing for Scanners and Skimmers

* Scanning and Skimming Practices *Whether you're writing e-mail messages... Read More

A Simple Contest with a Strong Message: Wake Up Your Writing Spirit

The Blogfest 2005 Writing Contest has only been running for... Read More

Taming The Book Proposal

Taming the Book Proposal: The BasicsOh, that most maddening of... Read More

Piecing It All Together

There's a little known secret we writers like to keep... Read More

Why Researching Is Good, And A Failure To Do So Is Not

What a lack of research could do to you.When creating... Read More

Untrue Father (A short Story)

Kallu was a tenant of Santosh Kumar Nayak. Santosh Kumar... Read More

Make Your Mark Upon Humanity

The greatest gift you have to give to yourself and... Read More

Finish Your Book Already!

I owe the completion and success of my book to... Read More

Tell the World About You

You have a new website, or a new business, or... Read More

Break in with Fillers: The Best Market for New Writers

Interested in breaking into writing or breaking into a new... Read More

Imagine The Imagination

Imagine a three hundred page book was in the author's... Read More

Create the Writing Life You Want

Ah, writing. For those of us who love to play... Read More

7 Book Publicity Tips for Authors and Small Publishers

The biggest mistake authors make when trying to get free... Read More

Letter Writing Journaling

When you read a letter from someone, we are immediately... Read More

Is Horror Dead?

I've noticed a big shift away from traditional horror recently,... Read More

Write For Yourself First

It would be very selfless or noble of me to... Read More

Who Else Wants To Make $3546 By Simply Pressing a Button!

If you have been online for any length of time... Read More

A Writers Life

Ever wonder what an author's life is like? What that... Read More

Conflict - How To Keep Your Readers Turning Pages

Some writers are just too kind.They hate to put their... Read More

Revving Up Your Writing Productivity

Productivity begins by recognizing and valuing your brilliance, time, and... Read More

Inspiring the Poet in You!

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

8 Great Journaling Tips

Mix a martini, don't forget the olives, or pour yourself... Read More