In this episode, I’m going to be answering the question, how much money do you need to start a writing business?
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Hey guys, welcome to Write Bites, a series of 10-minute episodes on writing, marketing, and freelancing. In this episode, I’m going to be answering the question, how much money do you need to start a writing business?
And this is a pretty common question I get, whether it’s related to, how much startup capital do I need to launch or more commonly, – it gets asked associated with my paid comprehensive course. It’s the idea that after the investment of getting this course, how much additional money am I going to need to actually make this business work?
The Most Important Answer
And the thing I want you to know first and foremost is that the answer is $0.
You don’t need any upfront capital to start a writing or in most cases, any sort of a service business outside of something that requires some sort of unique software.
That is the beauty of launching a service-based business. You’re not dealing with any cost of goods. You’re not dealing with any manufacturing costs.
You’re selling your time.
And in most cases that doesn’t come with any sort of overhead. It doesn’t come with any sort of, upfront costs that you have to invest.
And this applies to courses as well. As I tell all my readers and watchers and listeners, you don’t need to purchase a course even to succeed in this business.
At the end of the day, succeeding in any service business comes down to just two things:
* Can you perform the service at an acceptable level?
* Can you get that service in front of enough people that a small percentage of them will say, yes, and pay you for it.
That’s all it comes down to.
And you don’t need any money, especially if we’re talking specifically about writing, you don’t need a dollar to start doing that right now. You can go out and start pitching your writing services with no expenses.
The Answer You’re Actually Looking For
So that said, the core answer is zero.
But the secondary answer, a lot of times what people are looking for, is there any way that I can invest money to achieve a better result?
Whether it’s to grow faster, whether it’s to secure tools that will help me succeed, whether it’s to increase my ceiling. And the answer there it, to some extent is, yes, you can find things to invest in.
Which of those you want to invest in: it comes down to your unique situation, and it also comes down to whether or not you found your flywheel – your kind of core process for growing your business.
So we’re going to dig into that a little bit, and I’m going to walk through that over the rest of this episode. But just to reiterate, when we’re talking about launching a service business, particularly writing, you do not need any money to start right now and go get actual results, start landing, actual paying clients.
They may not be super high paying clients. They probably won’t be, unless you’re coming in with, professional writing experience from a full-time job or some other background, you’re probably going to start with low paying gigs and that’s okay.
That’s how virtually all of us start.
And honestly, if you’re in a situation where you have more time on your hands and not a lot of extra money on your hands, that’s the way you want to do it.
Don’t sink money that you can’t afford to lose even in training, even in my training. Because at the end of the day, there’s no reason to when you can just immediately go out and start pitching.