How to Make $10,000/Month Writing Online

Summary

The video script discusses the rise of online writing as a lucrative career, highlighting its differences from traditional 'Legacy writing'. It emphasizes the importance of feedback and consistency in building an online writing presence. The script introduces Nicholas Cole's book, 'The Art and Business of Online Writing', as a guide to mastering this field. It outlines various revenue streams for online writers, such as advertising, paywalls, product creation, and offering writing services, and showcases success stories like Cole's and others. The video also promotes Shopify as a tool for writers looking to sell products or services.

Takeaways

• 🌐 The most desired career globally is being a writer, according to Google search data, second only to being a pilot.
• 📈 Despite common misconceptions, writing can be a lucrative profession, as demonstrated by successful online writers like Nicholas Cole.
• 💡 Online writing differs from traditional writing in that it does not rely on publishers or waiting for approval to be a professional writer.
• 🔍 Online writing involves publishing content where the readers are already present, such as on social media platforms.
• ⏱️ The key advantage of online writing is the immediate feedback loop, allowing writers to iterate and improve their work based on audience response.
• 🌳 The 'forest of ideas' concept encourages writers to generate and publish a multitude of ideas to see what resonates with the audience.
• 📊 Analyzing data and feedback is crucial in the online writing process, helping writers to identify patterns and focus on valuable content.
• 💰 There are three main ways to monetize online writing: the advertising model, the paywall/exclusivity model, and the services model.
• 📈 The advertising model relies on generating attention to earn money through clicks, ad space, affiliate marketing, and sponsorships.
• 🚪 The paywall model involves charging for access to some content, allowing writers to build a loyal audience willing to pay for exclusive content.
• 🛠️ The services model offers writing as a service, such as content writing, ghostwriting, and copywriting, where writers are compensated for their work based on the value they provide.

Q & A

What is the main theme of the transcript?

The main theme of the transcript is the exploration of online writing as a profitable and viable career, challenging the traditional notion that writers cannot make money. It discusses the journey and strategies of successful online writer Nicholas Cole, emphasizing the power of the internet and social media platforms in building a writing career.

How does the transcript challenge the traditional view of writing careers?

The transcript challenges the traditional view by highlighting the success of online writers like Nicholas Cole, who have built lucrative careers without relying on traditional publishing deals. It emphasizes the potential of the internet and social media to provide platforms for writers to reach audiences directly, build personal brands, and earn revenue.

What are the three key aspects of online writing discussed in the transcript?

The three key aspects of online writing discussed are: 1) What online writing is and what it isn't, 2) The tools needed to do it effectively, and 3) How to start making money from online writing.

How does the transcript explain the concept of 'digital online writing'?

The transcript explains 'digital online writing' as the practice of publishing content where readers already are, such as social media platforms, instead of waiting for traditional publishers or relying on blogs that may not attract traffic. It emphasizes reaching existing audiences on platforms like Twitter, LinkedIn, and Quora, and using the immediate feedback loop to improve and monetize writing.

What is the significance of feedback in the online writing journey?

Feedback is crucial in the online writing journey because it provides immediate insights into how an idea or piece of content is resonating with the audience. This rapid feedback loop allows writers to iterate and improve their work, build a personal brand, and cultivate an audience that is more likely to pay for their work in the future.

How does the transcript describe the process of generating ideas for online writing?

The transcript describes the process of generating ideas as creating a 'forest of ideas,' where a writer produces a large number of ideas and publishes them consistently to see what resonates with the audience. The focus is on quantity and variety to discover what content is engaging and worth pursuing further.

What are the three specific ways to make money from online writing mentioned in the transcript?

The three specific ways to make money from online writing mentioned are: 1) the advertising model, which involves earning money through clicks, ad space, affiliate marketing, and sponsorships; 2) the pay wall or exclusivity model, where certain content is charged for, such as behind a pay wall, premium newsletters, or courses; and 3) the services model, offering writing as a service, such as content writing, ghostwriting, or copywriting.

How does the transcript relate to the book 'The Art and Business of Online Writing' by Nicholas Cole?

The transcript relates to Nicholas Cole's book by using his journey and strategies as a case study to demonstrate the potential of online writing. It highlights how Cole has built a successful online writing business, earning millions of dollars in revenue, and how his book provides insights and guidance for others looking to follow a similar path.

What is the role of social media platforms in online writing?

Social media platforms play a pivotal role in online writing as they provide accessible and existing audiences for writers. They serve as publishing spaces where writers can share their work, receive immediate feedback, and build a following, which can ultimately lead to monetization opportunities.

What is the main difference between 'Legacy writing' and 'online writing'?

The main difference between 'Legacy writing' and 'online writing' is the approach to publishing and audience engagement. Legacy writing relies on traditional publishers and a slower feedback loop, often involving years of work and rejection before reaching an audience. Online writing, on the other hand, leverages the internet and social media to publish directly to audiences, allowing for immediate feedback and monetization opportunities.

How does the transcript suggest one can start making money from online writing?

The transcript suggests that one can start making money from online writing by understanding and utilizing various models such as the advertising model, the pay wall model, and the services model. It emphasizes the importance of building an audience, creating valuable content, and leveraging the power of the internet and social media platforms to monetize writing skills effectively.