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Writing for dollars requires business mindset

By Edited Mar 25, 2016 0 1

You do not think you are a businessperson when you start writing for dollars.

You probably think of yourself as a writer or web content provider.

You think of providing informative material to your readers, and hope to earn money in return. It is hard to think about writing articles with a business mindset.

If you think deeper into the matter of writing for dollars, you will see how a business mindset can help you.

Many new writers think that they can write whatever they like, and money will roll in.

The fact is that creative writings do not pay. Imagine you have a poem about a wonderful evening. How do you expect to make money from that poem?

The advertisers cannot place an advertisement about forex trading, since your poem is not related to forex trading.

Google Adsense does not display relevant advertisements since nobody can sell a wonderful evening.

That is why writing for dollars requires a business mindset. Writing for dollars is different from writing for fun.

Writing for dollars requires you to think from the viewpoints of the advertisers.

If you write an article about sport injuries, the specialists offering sport injuries treatments want to advertise. The pharmaceutical companies selling ointments and pills for sport injuries want to advertise.

When the readers who have suffered from sport injuries find your article, they will click on the advertisements to buy the ointments or pills.

They will view the websites of the medical specialists for sport injuries, and make appointment.

That is how your article can help readers and advertisers. You will make money from writing the article.

What are the worst topics for writing for dollars?

The topics that do not make money are:

1. Religion

2. Celebrity news

3. Creative writings

4. Opinion

5. Personal

That means you cannot expect to write about your feelings for your wonderful grandmother, your uncle, your cat and dog, if your purpose is making money online.

What are the best topics for writing for dollars?

The topics include:

1. Holidays

The articles about gift giving, and budgeting are good earners.

2. Travel tips

3. Health

4. Business

5. Employment

6. Recipes

7. Consumer product reviews

Almost all the how-to articles are good earners. The earnings depend on the niche and the keywords used.

You have to bear in mind that the world revolves round money. Everything is about money. If writers do not get paid for writing informative articles, most of them would not write as diligently.

They will rather keep the information to themselves, and find a way to publish it offline.

How do you use a business mindset in writing for dollars?

You can use the business concept for deciding what to write.

1. Market

What is your targeted market?

When you write an article about obese children, are you targeting the children or the adults?

Closely related to the matter of market is the language of the targeted audience.

Some people use words like "retrenchment", while others know the term "down-sizing".

If you want to target both markets, you have to write an article about retrenchment, and another article about down-sizing.

The information is the same, except the wordings.

2. Competitors

How many articles are using the same keywords? How many articles are published every day?

You have to study the competitors. If too many articles are using the same keyword, you would have to use a lesser known keyword.

3. Cost

You have to calculate your cost of production.

You may think that you have zero cost, since you do not need to pay anyone for writing the articles. That is wrong.

The cost includes opportunity cost. If you can work at a part time work for $10 per hour, why should you spend time writing an article that pays just a dollar in its lifetime?

You have to calculate the cost of electricity, the internet connection, and your research time.

If you spend two hours researching the article, and one hour writing the article, that is three hours of your valuable time.

If you can work at $10 per hour, you need to make more than $30 to make writing the article worthwhile.

That is why it is better to write what you know, so that you can shorten the research time, and write the article faster.

4. Profits

When you have an idea of your cost of producing the article, you can monitor the earnings.

Writing for dollars, especially from passive income, makes it hard to estimate the profits.

An article may earn $24 in its lifetime. Let us assume that you use just 15 minutes to complete the article, and the cost of production is $5. Your gross profit is $19 over the lifetime of the article.

When you outsource article writing, it is easier to calculate the actual profits.

The problem with writing for dollars is that 20% of the articles produce 80% of the total income.

That means the remaining 80% of the articles incur losses.

If the cost of production is $5 per article, and most articles earn just $1 over its lifetime, you will suffer a net loss.

The 80 / 20 rule applies in all aspects of life, including writing for dollars venture.

Is writing for dollars worthwhile? That depends on your opportunity cost.

It is worthwhile for those people who spend the bulk of their free time watching TV. Since watching TV does not make money, they are better off using the time to write articles.

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Comments

Sep 29, 2010 11:10am
dmcmahan
Nice tips and outline for profiting from your writing.
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