One of the first things I recommend for a “newbie” copywriter is to think like an entrepreneur and create their own line of products.
Specifically, some type of subscription site based product based on their personal interests.
The cash flow from the subscriptions creates financial foundation that can be used to ensure that all their lifestyle expenses are met consistently.
The income from the subscribers I also independent of any other income earned form clients, which can be a feast or famine experience. When the business is flush with cash the excess has to be set aside for the lean times and, since marketing for new clients can be expensive, staying financially viable can be a real challenge.
Having a stable cash flow from a subscription base makes it easier to negotiate for a higher rate and/or to walk away form difficult clients.
How can this work in real life?
A sports writer was let go from a local newspaper at the first of the year. She continued to follow her passion for sports and created a subscription site. $4 for a single article and $120 a year for total access. While I have no idea what her subscription base is, she lives in a county of over 150,000 residents. All she needs to make a comfortable living is abut 1,500 subscribers for a gross of $180,000 a year.
A thee and variation on this business model has been developed by a friend of mine. He connects with flea market vendors and sends out a weekly e-letter to their buyers. The e-letter promotes new products, discounts and even contests. He has about thirty vendors who help pay the costs of distribution, all of whom have seen sales increase.
Find a market that interest you, reach readers with the same interests and build a subscription base. It is easy? No. Will it take time? Yes. Once established can the resulting cash flow be transforming? Absolutely.
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