Our Side Hustles Breakdown
Becoming an author is a fusion of passion and patience. Whether delving into fiction, non-fiction, poetry, or any other genre, authors craft stories and share knowledge. The rewards are twofold: the thrill of having readers connect with your words and the potential for financial returns through book sales.
- Unpredictable Earnings: Not all books guarantee financial success.
- Time-Intensive: Writing a book is a long-term commitment, often without immediate returns.
- Market Dynamics: The book market is competitive, with trends affecting sales.
- Intellectual Fulfillment: Crafting a narrative or sharing expertise is deeply satisfying.
- Passive Income Potential: Royalties from book sales can provide income for years.
- Flexible Schedule: Write when inspiration strikes, on your own terms.
Being an author holds plenty of fascination and allure. However, plenty of responsibilities might leave aspiring writers with little to no room for devoting enough time to their hobby.
However, you can benefit from the gig economy and thrive by being an author as a side hustle. This gives you the channel to express your creative energy, pursue your passion, and generate more income without compromising the stability of a full-time job.
An Overview of Being an Author: A Primer
If you’re keen on becoming an author but don’t have the luxury of time to attend to it as a full-time job, you should consider the job a side hustle.
Not only will you benefit from the gig economy, but you can also use the digital transformation wave to your favor. Finding online communities and self-publishing platforms now facilitate the process of writing, and it’s a good idea to leverage that.
You can use social media to connect with readers and market your work, and in that case, writing books can be profitable by reaching a wider audience.
How Much Can Being an Author Earn You?
Determining how much you can make by becoming an author is a little complex, as plenty of factors come into play.
The extra income someone can make writing depends on the type of writing they do, how successful their marketing campaigns are, and the demand for the genre they pursue.
The main source of income an author gets comes from book sales. This, of course, will depend on the popularity of the book as well as the royalty structure you get from the publishing platform.
The publishing method you choose also affects how much you’ll earn from book sales. If you choose self-publishing, you’ll get a higher share of the royalties.
However, you’ll need to work on the marketing and promotion yourself. If you’d rather spare yourself the hassle, you can opt for traditional publishing and receive earnings with a discounted author royalty check.
Types of Writing
While your mind will wander to novels, the word author doesn’t necessarily imply the conventional notion we’re used to.
You can be an author of social media posts, share a blog post every now and then, or even engage in technical writing. You can also opt for affiliate marketing and expand your income streams by gaining from sales.
How Much Does It Cost to Start a Side Hustle Being an Author?
To begin a journey as a writer, you’ll need to fulfill some minimum requirements, which are as follows:
- Writing Equipment: For starters, you’ll need a reliable laptop or computer. The next aspect is writing or word processing software. These can be free, such as Google Docs or OpenOffice, or they can be paid, like Microsoft Word or Scrivener.
- Resources: To acquire the essential skills to become an active writer, you’ll need to invest in some educational materials, such as courses. A viable example is the David Carson Masterclass.
- Professional Editing: What’s even more important than writing is editing, and you’ll need professional services for that. Editing ensures that there aren’t any issues overlooked, like grammatical errors or loopholes in the story.
- ISBN and Copyright: While you don’t have to get a copyright registration, it does protect your work against theft or plagiarism.You’ll also have to pay a small fee to a national ISBN (International Standard Book Number) to be able to distribute your book.
- Publishing Costs: You can cut publishing costs if you opt for self-publishing. However, this raises the cost of marketing and promotion that you’ll have to do.
Where Can You Find Author Gigs?
You may feel unsure as to where to get started or find gigs. There are two routes: an independent one and a gig-economy one.
Where to Independently Find Author Gigs
You can choose to participate in writing contests. You’ll secure a good amount of exposure, even if you don’t end up winning. You can also opt for options that target emerging authors.
Alternatively, joining author associations and organizations gives you an opportunity to network with other authors as well as publishers to get your work recognized.
Gig Economy Companies That Offer Writing Jobs
Plenty of freelance writers can secure extra cash by offering their services through freelance websites.
If you’re a talented writer and have strong writing skills, you’ll easily find more gigs and have flexibility over the range of topics that you write.
Why You Should Consider Being an Author as a Side Hustle
There are some reasons why seeking a writing side hustle is beneficial on multiple levels.
- Pursuing Passion: If you love writing, you’ll enjoy the fact that you can have a creative outlet besides the stability of a full-time, everyday job.
- Securing Income: Your books can be sold on Amazon, securing you a passive income whenever someone buys your book.
- Building an Author Platform: After a while, you can switch to writing as a full-time job once you’ve established a platform through writing as a side hustle. You’ll be able to engage with other writers, and the writing community, build readership, and pave the way for future growth.
Problems with Being an Author
Before you embark on a writing journey, you have to wrap your head around the issues that you may face along the way. These include:
- Publishing: One of the most crucial decisions you’ll have to make is whether you’ll self-publish or use a traditional publishing house. While the latter makes gaining recognition and selling books easier, it’s not as profitable. Self-publishing allows you to keep up to 70% of the royalties, securing you more money.
- Marketing and Promotion: If you decide on self-publishing, you’re going to have to invest a lot of time and energy in marketing and promotion to get to your target audience and gain a reader base.
- Instability of Income: You can’t expect stability out of a job as an author, as you’ll never know when your book will sell, let alone how many copies will be sold. That’s why being an author is a good option if you’re looking for passive income and aren’t concerned with its regularity.
Frequently Asked Questions
Why Is Being an Author a Good Side Hustle?
Getting a side hustle as an author allows you the flexibility to work on your writing projects whenever it suits you. It’s a way to be creative with a hobby you like and end up making some cash out of it.
Is Being an Author a Popular Side Hustle?
For those who have a passion for writing and storytelling, being an author on the side is a popular choice, as it gives you the best of both worlds: getting some extra cash and enjoying a beloved activity.