All freelance writers are serial entrepreneurs, whether we like it or not. An entrepreneur is somebody who comes up with an idea, tries to sell that idea, works with people to make that idea happen and finally makes or loses money based on the quality of that idea.
The cycle of selling an article follows that exact process. As freelance writers, we come up with an idea for an article, we try to sell that idea to a magazine, we work with experts as we research the article, and we get paid based on whether or not the magazine accepts the final product.
There’s just one difference between an entrepreneur and a freelance writer. The typical entrepreneur will go through this cycle less than ten times in his entire career. A productive freelance writer will go through this cycle more than ten times every single month.
With the increased availability of self-publication and self-promotion on the internet, freelance writers become even more entrepreneurial as we release actual products such as blogs, newsletters and ebooks.
Bottom line: to make it as a writer, we shouldn’t just study the tools of writing. We must also understand entrepreneurship, small business management, sales and marketing. Bottom line: if you’re writing well enough to sell even a few articles, you’re better off getting an MBA than an MFA.
I’m fortunate enough to have come to this career after nearly a decade in small business management and ownership. I’ve read the key texts on the important subjects, and I’ve experimented in the laboratory of a working brick-and-mortar business.
For those who are coming from a less business-oriented background, I’d like to take the liberty of suggesting a few books to start your education:
- The E Myth, by Michael Gerber
- Small Business for Dummies, by Eric Tyson
- Rich Dad/Poor Dad, by Rob Kiyosaki
- Six Figure Freelancing, by kelly James-Enger
- The Four-Hour Work Week, by Timothy Ferriss
- The Seven Habits of Highly Effective People, by Stephen Covey
Remember: if you don’t make your writing a business, you have no business trying to write for a living. There’s nothing wrong with just writing for the pure joy of it. Just don’t try to support your family by treating your writing business like it’s a hobby.
Thanks for listening.
PS: On the subject of entrepreneurship, I’ve just launched a side project based on a simple, fun idea. Check it out and let me know what you think.