Almost every writer hopes to become a best-selling millionaire someday. However, the cold, hard fact is that writing is not the easiest industry to become rich in. There are many talented writers who can barely make ends meet, while there are many good writers who become best-selling authors. The trick is to take the time to figure out how to both enjoy your writing and make it a profitable career.
Think of writing as a business
Writing is a creative field, but to become a millionaire writer, you do need to approach your writing as a business. Writing great books which have no proper market would be a waste of your time and talent. Do the research, look into which genres or niches are the most popular and lucrative, which publishers are better suited to making you a success, which self-publishing platforms are more profitable, etc. Be prepared to invest in enough time and resources- such as social media, marketing and blogging to build your reader base.
Understand the publishing industry
You don’t necessarily need to know all the ins and out of the publishing business, but you should be aware of the different options available to you and how to make the best use of them. For example, if you are planning to become an instant millionaire from your first e-book, it is highly unrealistic (no matter how wonderful the book is). The fact is e-books make up only about 20% of the book market with print books making up the rest. Traditional publishing may have become less attractive to many, but it is not exactly slowing down, and it is still where the money is. You do need to be aware of these type of facts about the publishing industry, so that you make good choices, and give your book the best chances of becoming successful.
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Be prepared to write what people want to read
While you should nurture your inner creativity and write about what you feel passionate about- you should also consider that you are writing for an audience. Without the support of readers, your book is going straight to the back shelves of the library. You need to understand what your readers like and enjoy, and then find a balance for pleasing them as well as satisfying your creativity with your writing.
Be prepared to work long and hard
Consider the example of Stephen King, who is certainly a millionaire writer. He is also one of the most hardworking writers, and has published scores of best-selling books. It will usually take several books for a good writer to hit the first million. Be ready for the long haul, as you will likely have to write many books consistently well, and keep them coming at a good pace for your readers. Most of the leading best-selling authors like James Patterson, Stephen King and others, consistently release at least one book every year.
Millionaire careers are rarely made quickly, and this is certainly true in the case of writing. Most successful millionaire writers are characterized by their persistence, determination and patience in waiting and working until they make it. Besides just having talent, there is an element of luck involved in hitting the best seller lists. Many excellent writers don’t always become successful or even get their books accepted for publication right away. You need to be patient, stay focused and keep at it, and firmly believe that one day your books will become best-sellers.
Image credit: _J_D_R_ on flickr and reproduced under Creative Commons 2.0[author] [author_image timthumb=’on’]https://writingtipsoasis.com/wp-content/uploads/2014/02/CS_Rajan.jpg [/author_image] [author_info]CS Rajan is a freelance writer who loves to write on various topics, and is currently working on her first novel. [/author_info] [/author]