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Well, it’s possible!
Okay, “fun” might not be the first word you think about when it comes to making serious money. But to most millionaires, making money is a damn fun game to play, and that’s exactly how they got rich in the first place — they did it for the lulz!
So, can making a ton of money writing words online be fun? I believe it can! And lately, I’ve come to believe it’s possible. Here’s some evidence to back it up:
Someone made close to 50K in one month on Medium alone.
A single story making close to $10,000 on Medium
A single story made close to $9,000 on Medium
But it’s not all about Medium. Syndicated publications and newspapers pay thousands of dollars for quality articles or stories. When you get good at it, you can make thousands of dollars by writing for a few hours only.
You can also look at places like Upwork:
If you do the math on the Upwork profiles from above, you’ll notice the math doesn’t add up. If you charge $40 per hour and work 24 hours per day for a month, you’d still only make $28,800.
But like anything, you have to diversify if you want to make $100,000 in a month.
The writer who made $50,000 on Medium in August put their heart out. They cranked out over 60 articles that month, most of which were high-quality pieces. To top it off, they’re selling eBooks and creating online courses. When you add everything up, it’s getting close to $100,000.
Is this an outlier case? Oh yeah, for sure. I never said it was easy. It is, however, achievable.
How to Balance Your Writing Activities to Make Insane Money Writing Online
Okay, so I haven’t made $100,000 in one month with my written words, so take this with a grain of salt. This is just a theory, but I hope it’s a sound one.
Write enough good content so that it generates passive revenues. This can be done on Medium, on your own blog, or by selling eBooks. On Medium, I have 2-year-old articles that still generate me thousands of dollars monthly. My blog is mostly self-run and converts people to buy my products without me doing anything.
Get recurring paying contracts. There’s no guarantee on Medium or your blog. So, in addition to them, find a company that’s willing to pay you monthly for writing for them. The more money a company makes, the more they’re willing to pay a premium for your services.
Do some freelancing at a high price. If you charge too much right away on Upwork, you might not get many clients at first, unless you have the credentials to prove your worth. But as you keep proving yourself, you’ll eventually hit contracts that can pay tens of thousands of dollars.
Add some affiliate links to your website and blog posts. I haven’t made millions with affiliate marketing, but it’s partly because I link to low-ticket items on Amazon. Sell ten products at a $1,000 commission price and we’re talking about serious money.
Get people to guest post or add links on your website for a fee. The more popular my websites become, the more people ask me to put their links or articles on them. Some people voluntarily fork over money for this, some I ask for payment. It takes almost zero effort from you and can add up to good money when your website becomes popular.
More ideas welcome in the comments section!
Now, how reachable is that, realistically? You got me, not very. To get there, we’re talking about years of plowing away, working for peanuts in the meantime.
I shared with you two of my most popular articles above. It might seem like everything I touch turns to gold. Well, if you remove the outlier articles, my average article probably makes $3 on Medium. It doesn’t matter if I spent 30 minutes on it or 12 hours.
It’s the big hits that matter. And unless you regularly post quality content, you won’t get a hit. Sometimes it takes me days to get another hit, sometimes it takes me months. Like, many.
But if you’re serious about it, it’s getting more and more possible every day. The revenue pie on Medium is getting bigger and bigger. The amounts you can charge on Upwork keep increasing. Newspapers and syndicated publications pay top dollar for premium stories. There are also new ways to generate passive income every year.
Making $100,000 a month with written words is now possible, and it can be a lot of fun!
Who’s willing to try it out?