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Income streams for writers presentation

“Many small streams
will form a big river.”
Swedish Proverb

Presented by
Linda Fulkerson
? Marketing & Blog Coach for over 15
years
? Owner of DLF Digital Services LLC - a
website, graphic design, and marketing
company, specializing in helping authors
build an effective platform
? Former owner of a small publishing
company
? Presenter to writers’ groups on topics of
marketing, blogging, author websites,
and self-publishing
? Author of several books - both ?ction &
non?ction
? Former online editor & digital services
coordinator for the Killeen Daily Herald
? Wife, mother of four adult children,
grandmother of six
? Learn more about me at my website:
www.lindafulkerson.com

What You’ll Learn in this
Webinar
? The difference between passive and active income
? Reasons why some people fail at developing?
supplemental income
? How to succeed at developing supplemental income streams
? 15 speci?c ways writers can create passive ?
and/or active income to supplement ?
?ction-writing revenue
? How to maintain a balance between writing?
and developing additional income streams

Introduction
? Many ?ction writers struggle to balance cash ?ow
between contracts and royalty payments
? Or, if you’re not yet published, it’s often necessary?
to contribute to the household income
? So, what’s the solution?
? Quit writing?
? Or develop additional income streams

Two Main Types of Income
? Active Income
? Revenue earned basically by trading your time for?
someone else’s dollars
? Most common example of active income: a JOB
? Passive Income
? Income received (typically on a regular ?
basis) with little effort required to ?
maintain it
? Examples of passive income include:
? Rent from property
? Royalties from book sales
? Interest on savings
? Dividends on Investments
? Many online business models

The Common Denominator
between Active & Passive Income
? Each type of income requires an investment of?
either time, money or both

Why Some Fail at Developing
Additional Income Streams
? They are trying to get something from nothing
? They think it’s a “get rich quick” scheme
? They give up too easily
? They think it’s a scam
? They’re lazy
? They don’t think they can do it
? They don’t have the technical skills to create?
online income
? They don’t know what to do or where to start

Key to Success for
Developing Passive Income
? Understand you’ll need to do some work on the front end (and
possibly invest a minimal amount of money) to enjoy the bene?ts
later (delayed?
grati?cation)
? Choose an income stream that best ?ts?
your budget, schedule, and talents
? Be patient. Passive income development?
takes time.
? In the meantime, you can supplement?
your income quickly by implementing the active?
income streams we’ll discuss in a few minutes

Top Six Ways to Make
Money Online (Passively)
? eBooks
? Blog Monetization
? eCourses
? Membership Sites
? Information Products
? eCommerce Sites

eBooks
? Conduct market research to determine what people want to learn
? Write an eBook that either (a) solves a problem or (b) helps your reader attain a dream
? The “Big Four” - best-selling broad markets ?
are: Money, Health, Relationships and Lifestyle
? Most “How To” eBooks are about 20,000 words
? Novelists can “write what you know” by?
sharing your approach to various aspects?
of novel writing (character development, research,?
plot structure, etc.)
? The key to success in writing eBooks is quantity
? Think series - use each book in the series to market the next?
and previous books within that series ?

eCourses
? eCourses have a higher perceived value than eBooks, and
therefore typically have a?
higher price point
? You can deliver text eCourses via email using an auto-responder
or create video courses using screen-capture software
? Protect your content from unregistered viewers
? Publish eCourses yourself or through a learning ?
community, such as Udemy
? Secret tip for eCourses: Audio quality is more?
important than video quality

Membership Sites
? Membership sites are a great way to develop passive, residual income
? Membership sites can easily be automated, meaning once you set them
up, the work is done, other than promoting your site
? There are several ways to set up a membership site
? You don’t need to spend a lot of money to create ?
a membership site
? Think of things you’re an expert in that others?
would like to learn
? You don’t need a lot of members to generate good?
income - a $19/month site with just 100 members will?
bring in $1900/month

Blog Monetization
? Blogs themselves don’t generate money - you must monetize them
? Blogging isn’t totally passive, but once you grow your audience,
you can make good money from your blog
? There are many ways to monetize a blog, including eCourses &
Membership Sites
? Other ways include advertising and af?liate links
? To make money through advertising, you ?
need a LOT of traf?c
? If you use af?liate links, be sure to comply with?
FTC regulations concerning disclosure

Information Products
? Information products are similar to content you might ?nd in a membership
site or eCourse - the difference is they are sold as one payment for one
product instead of recurring payments (such as a membership site) or a
series of content (such as an eCourse)
? Information products can be sold directly from your website - such as a
direct sell eBook instead of using a third-party, like Kindle, to sell your eBook
? Information products can come in a variety?
of formats - eBooks, Checklists, Videos, Blueprints, etc.
? To sell information products directly, set up a sales?
page with a video that explains the bene?ts of your?
product. After the purchase (via PayPal or another?
online shopping cart service), deliver the product as an?
instant digital download using an auto-responder

eCommerce Sites
? An eCommerce Site is an online store
? You can sell digital and/or physical products
? You can sell your own products and/or?
af?liate products
? You will need a website, a shopping cart?
service, a payment gateway (such as?
PayPal), and a way to deliver your ?
products

Active Income Streams
for Writers
? Speaking
? Back of Room Sales
? Design Services
? Writing-related
Services
? Marketing Services
? Service Contracts
? Consulting
? Virtual Assistant
? Sell Stuff

Speaking
? Some speakers command thousands of dollars (or
more) per session
? Hone your speaking skills and position yourself?
as an expert in your ?eld (think: “Author”ity)
? Types of presentations include keynotes,?
seminars, workshops, etc.
? If you’re new to speaking, start by presenting ?
free talks to local clubs,churches, ?
and writers’ groups

Back of the Room Sales
? Once you determine the area you wish to position yourself as an
expert in, write and self-publish a?
book. Print it using CreateSpace (owned by?
Amazon), and buy some author copies
? Sell your books at your speaking events.?
Most people who attend an event want?
a signed copy of the presenter’s book
? Tip: Pre-sign books and personalize?
them at the event as people buy them
? Tip: Take a friend or family member to handle?
the actual selling process so you can meet and?
greet those who have purchased your book

Design Services
? Websites
? Graphics
? Logos
? Don’t limit your services to those in your?
writing circles - offer services to?
small businesses in your community

Writing-related Services
? Blogging for Pay
? Editing Services
? Paid Critiques
? Conducting research for writers
? Ghost writing
? Pre-publication formatting (eBooks,?
CreateSpace, etc.) for indie authors

Marketing Services
? Social media management
? Reputation management
? Search engine optimization
? Email marketing
? Video Production
? Sell marketing services via annual ?
contracts to create ongoing income

Service Contracts
? Service contracts are “semi-passive” income
? For website clients - sell hosting, maintenance,?
security monitoring, monthly backups, etc.
? Create various packages at different?
price points
? Require a service contract as part of?
your website development services
? Allow monthly payments or offer a discount?
for those who pay annually

Consulting
? If you’re quali?ed to write a book about a topic and/
or present a seminar or workshop on it, then?
you can earn extra money through offering?
consulting/coaching services on that topic
? Make sure you specify what you expect?
from your clients and what they can ?
expect from your sessions
? Offer ongoing or one-time sessions

Virtual Assistant
? Provide professional administrative, bookkeeping,
technical, and/or creative assistance to clients?
remotely from your home of?ce?

Sell Stuff
? If you need quick cash, have a yard sale
? Post items on Facebook local sales groups
? Sell items on eBay
? Post a free ad in your local newspaper

Balancing Writing &
Supplemental Income Streams
? Set your writing goals, and determine your daily word count needed to reach those goals
? Write your words FIRST, before working on your side income streams - otherwise (trust me on
this) you might not ?nish what you planned to write!
? Remember, for the passive income streams, most of the work is done once, but it takes time for
the money to start
? For active income, most of the work is ongoing, but the money starts coming in much faster
? Both active and passive income streams require some promotion work
? I tend to work in batches, according to the type of task I’m working on - ?
for instance, writing a lot of blog posts or social media updates in one sitting, ?
recording videos back-to-back, creating graphics in batches, etc.
? There are automation programs to help with some tasks
? Find a daily and/or weekly routine that works best for you and stick to it
? Don’t forget your family and your personal time!

Conclusion
? As you can see, there are a variety of ways to?
supplement your income while you’re working?
on your next novel
? Due to time constraints, it isn’t possible to?
go through the step-by-step how-to?
for the items shared in this presentation,?
however, I’m developing an eCourse ?
that will explain successful methods ?
used to earn income in all the ways?
listed in this presentation . . .

Resources
? If you’re interested in learning more, join my Income
Streams for Writers noti?cation list, and I’ll let you?
know when the course is available?

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Income streams for writers presentation

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Income streams for writers presentation