The Fastest Path To $10K/Month Writing Online (2025)
03 Dec 2024 (15 days ago)
Introduction (0s)
- Many people consider various online business opportunities, such as Drop Shipping, creating courses, or becoming a part-time YouTuber, but often overlook the potential of digital writing as a lucrative career path (11s).
- Successful digital writers can earn six or seven figures per year, working from anywhere in the world on their own schedule (21s).
- Building a business through writing can be daunting, with many people unsure of where to start, how many followers they need, or how to find clients willing to pay for their writing (28s).
- This video will discuss strategies for starting and growing an online writing business, covering topics such as finding clients and getting paid for writing (39s).
- The video is part of the "Business Class" series, which explores strategies for starting and growing an online business to achieve financial freedom and a desirable lifestyle (42s).
- The host, Ali, has over 10 years of experience in online business, having built and sold a six-figure business while a medical student and growing another business to six figures while working full-time as a doctor (53s).
- Ali's current business generates seven figures in profit per year, allowing him to live a life he loves, and he aims to share his knowledge and experience with others through this series (1m6s).
- The video features a guest expert, Professor Nicholas Cole, a leading authority on digital writing who has built multiple seven-figure businesses through writing online and helped thousands of people achieve a full-time income through writing (1m31s).
- Professor Cole will deliver a masterclass on building a $10,000 per month writing business, even for those starting from scratch (1m47s).
The Biggest Myth About Online Writing (1m52s)
- The biggest myth about online writing is that it's not possible to make money from it, with many people believing that traditional publishing is the only way to go, and that finding an agent and getting a book deal is the key to success (1m53s).
- The mistake writers make is thinking they need a ton of attention to start monetizing, believing they need a million followers, 100,000 followers, or even 1,000 followers to be successful (2m18s).
- The fastest path to monetizing writing is not selling a product, but rather selling a service, as products are often priced low and require a high volume of sales to generate significant income (2m54s).
- Selling digital products, such as ebooks and courses, is not the fastest path to making money, as they are often priced in the hundreds or less, and require a large volume of sales to sustain a high income (3m4s).
- The problem with selling physical books is that the royalty percentage is often low, around 15%, and the book price is low, making it necessary to sell a large number of books to make a living (3m47s).
- The reason why it's hard to make a living as a writer is that the thing being sold, such as a book, is often priced low, and there's no recurring revenue, with most people buying a book once and not again (4m13s).
- The fastest path to replacing a full-time income as a writer is to monetize through a service, finding one client willing to pay a high amount for a service, rather than trying to sell products to a large audience (4m57s).
- The key to making money as a writer is to find one person who needs help solving problems in their business, and offer a service to help them, rather than trying to become a viral creator (5m26s).
- To achieve success in writing online, the first step is to identify your information Advantage, which refers to the knowledge and expertise you have gained through your experiences and education that others may not possess (6m0s).
- Many people start by imagining their ideal career or business, but it's more effective to begin by recognizing your existing strengths and areas of expertise (6m31s).
- Information Advantage is the knowledge you have acquired through your experiences, education, and training that sets you apart from others, and it's essential to recognize and leverage this advantage (7m13s).
- People often take their knowledge and expertise for granted, especially when surrounded by others with similar backgrounds and experiences, but it's crucial to recognize the value of your information Advantage (7m25s).
- Your information Advantage allows you to help others and provide value, making it a key factor in building a successful online writing business (7m48s).
- Having an information Advantage doesn't mean you need to be an expert in a particular topic, but rather that you know more than the average person, and it's okay to be a guide rather than a guru (8m33s).
- To build a successful online writing business, you don't need to know everything about a topic, but rather have a deeper understanding than the person you're selling to, and be willing to learn and share your knowledge (8m35s).
- Recognizing and leveraging your information Advantage is the key to success in writing online, and it's essential to focus on your strengths and areas of expertise rather than trying to imagine an ideal career or business (8m22s).
- When writing online, it's essential to be authentic and honest about your expertise, and you don't need to be a guru to be successful; you can be a guide instead (9m3s).
- Investing money earned from writing online can be done through services like Trading 212, which offers commission-free investment in stocks, shares, and funds (9m15s).
- Trading 212 features a social pies tool that allows users to copy the investment strategies of successful investors and manage their own investment allocations (9m25s).
- The social pies feature enables users to browse and copy the asset allocations of other investors, making it easy to invest in a diversified portfolio (9m33s).
- Trading 212 also offers a card that provides 1.5% cash back on purchases, seamlessly integrates with the investment account, and earns interest on uninvested cash in 13 different currencies (9m51s).
- The Trading 212 card is free, with no sneaky fees or subscription plans, and users can sign up using the link in the video description and receive free fractional shares worth up to £1 with the promo code "Ali Ali" (10m8s).
- The first step to achieving success in writing online is to identify your informational advantage (10m24s).
Sell To Businesses (10m27s)
- To achieve a $10,000 per month income writing online, one must consider who they are selling to, as different customers have varying levels of willingness to pay for services (10m47s).
- Tutoring, for example, is often price-anchored to a certain hourly rate, making it less lucrative than selling services to more affluent customers, such as biotech startups or pharmaceutical companies (11m0s).
- Businesses value money differently than individuals, and some companies may consider $5,000 or $10,000 to be a negligible amount (11m25s).
- Recognizing this disparity in how people think about money is crucial, as it can lead to undercharging for services (11m50s).
- One way to appreciate this disparity is through personal experience, such as undercharging for services until it becomes painfully obvious that one is not valuing their work correctly (12m3s).
- A personal anecdote illustrates this point, where a writer pitched a ghostwriting client and quoted $10,000 for a white paper, only to discover that the client was prepared to pay three times that amount (12m48s).
- Valuing one's work correctly is essential, and it's common for writers to struggle with quoting high prices, even when they have been trained to do so (13m23s).
- The key is to identify the most affluent customers who would be willing to pay a premium for services and to value one's work accordingly (11m13s).
- To achieve the fastest path to making a full-time living as a writer, it is essential to find a small number of people willing to pay a large amount of money, rather than trying to get a large number of people to pay a small amount of money (13m51s).
- Charging higher rates becomes more apparent as a better option after experiencing multiple instances of clients agreeing to pay $1,000, making it clear that maybe it's time to charge more (13m42s).
- The book "Feelgood Productivity", a New York Times and Sunday Times bestseller, does not generate much money due to low earnings per sale, requiring a large number of people to buy the book to make a significant income (14m6s).
- It is much easier to get a handful of businesses to pay $5,000 or $10,000 per month than to get a large number of people to buy a book or pay a small amount of money (14m25s).
- When starting a business, aiming to reach $10,000 per month can be achieved through different methods, such as getting one person to pay $10,000, five people to pay $2,000, or finding 2,000 people to pay $5 (14m38s).
- Targeting a smaller number of customers with a higher price point is generally easier than targeting a large number of customers with a lower price point (15m5s).
- The smaller number of customers being targeted and the higher price point make it easier to find those people and make the sale (15m7s).
Alternative Step 2 - Do Free Work (15m20s)
- Doing free work is an alternative step to charging for services, especially for beginners, as it can be a marketing cost to gain experience, credibility, pattern recognition, and remove friction (15m20s).
- Many people believe that doing free work is undervaluing oneself, but it can be a way to get started and build a portfolio, testimonials, and a network (15m48s).
- In the beginning, getting paid in cash is not the most valuable thing; instead, it's more important to get paid in confidence, building a network, and learning valuable skills (16m52s).
- Building the skill to provide enough value to charge for it is more important than the money itself, at least at the start (17m10s).
- Doing work for free can be the fastest path to getting started, learning valuable skills, building a portfolio, and getting testimonials (17m21s).
- Testimonials from free work can be used to attract paying clients, and the fact that the work was done for free does not need to be disclosed (17m33s).
- As a complete beginner, it can be hard to get someone to pay for services, but offering something valuable for free can make it easier to get started (17m48s).
- Doing free work for businesses is ideal, as it can lead to more opportunities and referrals (18m23s).
The Problem Pitch (18m29s)
- To reach $10,000 per month writing online, one strategy is to identify a niche where you have an informational advantage, such as medicine, and offer high-ticket services like helping a doctor grow their LinkedIn presence for $5,000 per month (18m29s).
- Potential clients could be high-level executives or business owners, but also family friends who are doctors with private practices and want to create content on LinkedIn to promote their services (18m56s).
- A doctor, like the speaker's father, a spine surgeon, can benefit from creating educational content on LinkedIn to attract higher-quality customers and establish trust with potential patients (19m14s).
- To pitch services to potential clients, one must first do their homework and understand the client's business, problems, and specialization, and then offer a solution to a problem the client may not know they have or hasn't gotten around to fixing (20m26s).
- A common mistake is applying for jobs on platforms like Upwork or Fiverr, which gives the client control and pricing power, instead of approaching clients directly and educating them on a problem and offering a solution (20m34s).
- The goal is to attract high-quality customers, such as those interested in a specific type of back surgery, like minimally invasive spine surgery, and to establish trust with potential patients (21m22s).
- The problem of not knowing how to find and attract these customers can be solved by optimizing the client's website and using LinkedIn to find and connect with potential customers (21m32s).
- To start creating content effectively, it's essential to educate people about the problem they're facing, and until that's done, it's impossible to sell a solution, as people can't care about the solution until they care about the problem (21m50s).
- By educating people about the problem, they become more receptive to the solution, and this approach can be applied to various topics, such as minimally invasive spine surgery, and can help reach people who are interested or know someone who's interested (22m24s).
- The benefits of this approach include being able to start reaching people, moving the social audience to an email list, and running localized ads, ultimately giving more control over lead flow for the business (22m30s).
- To implement this approach, a problem script and solution script are needed, and the process involves creating social content, which can be done for a fee, such as $3,000 a month, and requires about 30 minutes of the client's time per month (23m5s).
- The process of sending out this content can be done through a call, and to get people on the call, it's essential to start with the niche network, which means leveraging existing relationships, such as friends or family members who are doctors (23m36s).
- The first step in getting someone on the call is to open with a problem, such as asking how they typically get customers, and then following up with a solution, such as hopping on a call to discuss ideas that can benefit their business (23m50s).
- This approach is significantly easier than trying to build a large audience and sell courses, and it's more effective to start with a smaller network and build from there (24m39s).
Talk in Education, Not Sales (24m51s)
- The approach to sales should be focused on education rather than pitching, making the interaction feel like free consulting, where the goal is to help the other person rather than make a sale (24m51s).
- This approach involves pointing out mistakes or problems and offering guidance, allowing the other person to realize they need help and come to you for solutions (25m18s).
- By educating rather than pitching, the fear of selling is reduced, and the interaction becomes more about guiding the other person to a solution rather than trying to make a sale (25m54s).
- The key to this approach is to operate from an abundance mindset rather than a scarcity mindset, which means coming from a place of plenty rather than need (26m36s).
- An abundance mindset makes the other person feel like they want to work with you because you are confident and have plenty to offer, whereas a scarcity mindset can be off-putting (27m14s).
- The goal of this approach is to educate rather than sell, and by giving someone valuable information for free, they will want to find a way to pay you back through the law of reciprocity (27m42s).
- This approach can be summarized as talking in education rather than sales, which is a key skill to build in order to make money and be successful (26m16s).
- The bottleneck in sales is often that the person doesn't know they have a problem, so educating them on the problem and the solution is key (26m25s).
Generate Lots Of Leads (27m56s)
- To generate leads, it's essential to start with warm leads, which are people already in your network, rather than cold leads, who have never heard of you (27m57s).
- Warm leads can be categorized into two groups: "leaks" (people with a problem that you can help with) and "faucets" (people who don't need your help but know others who might) (28m35s).
- Before reaching out to cold leads, it's crucial to exhaust warm leads by making a list of 50 people you know who might need your help or know someone who does (30m18s).
- When going cold, you should reach out to at least 100 quality people, doing your homework on each one, sending a personalized message, and creating a pitch if they respond (30m25s).
- If none of the 100 cold leads respond, it doesn't mean the approach doesn't work; instead, it indicates a bottleneck in your process that needs to be identified and removed (31m6s).
- Professor Cole's response to the question of how many emails it takes to get a response from cold leads was surprising, emphasizing the importance of starting with warm leads (28m1s).
- A gentle pitch can be more effective, such as asking if someone knows anyone looking for a particular service, rather than directly offering your services (29m38s).
- It's essential to focus on quality over quantity when reaching out to leads, rather than using software tools to scrape emails and send spam messages (30m29s).
- Using Chat GPT to automate outreach and other tasks can be a misunderstanding, as people often try to automate things they've never done before, which can prevent them from understanding the full value of the process (31m16s).
- To truly automate a process, one must first understand it by doing it manually, which can be seen as the "longer road" initially, but ultimately leads to more education and better outcomes (31m43s).
- The key takeaway for making money online as a writer is to generate lots of leads by going through the process manually, understanding how it works, and then adding AI tools like Chat GPT later on (32m37s).
- Trying to use AI tools as a crutch early on can hinder success, as it's essential to do the work and understand the process before leveraging technology (32m55s).
- Writing has been a significant part of the entrepreneurial journey, and there are different methods to making money through writing, such as a creative, audience-first approach (33m2s).
- A video titled "How Writing Online Made Me a Millionaire" is available, which discusses a different method of making money through writing, focusing on a creative, audience-first approach (33m4s).