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.
Identify Your Information Advantage 5m58s
- 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.








