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A Masterclass on Making $10k-$100k/Month As A Writer

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8K views|2 months ago
💫 Short Summary

The video features a speaker who transitioned from a corporate job to running successful writing businesses, emphasizing the power of sharing insights publicly. He discusses the value of ghostwriting for income and offers tips on email automation, providing educational content for free, and using software tools efficiently. The speaker also shares personal struggles, business ventures, and the importance of partnerships. He discusses transitioning to self-paced learning, challenges in running a SAS business, strategies for using paid ads, and investing in sales psychology for effective marketing. The video encourages authenticity, expertise, and storytelling to stand out on social media platforms, along with editing tips for writers.

✨ Highlights
📊 Transcript
Transition from hedge fund trader to running a portfolio of writing businesses.
Started internal newsletter summarizing market events to gain recognition.
Launched public newsletter applying same principles for success.
Overcame initial fear by sharing insights publicly.
Demonstrated power of taking control of own output and pursuing entrepreneurial endeavors.
Transition to Writing Journey in 2020
The speaker began a personal newsletter in January 2020 to share their weekly readings and learnings.
The shift to remote work in March 2020 revealed that much of their finance work was unnecessary.
With newfound time, they focused on writing and sharing insights on social media.
Unexpected viral success on day 29 of their writing commitment motivated them to continue despite initial doubts.
Sudden increase in subscribers leads to realization about consistency and value.
Successful Twitter thread leads to paid writing opportunity.
Uncertainty about pricing is overcome by delivering high-quality work.
Client offers unexpected $5,000 payment based on perceived value.
Experience marks shift from high-paying job to entrepreneurial endeavors.
Speaker's journey from making his first dollar through ghostwriting to earning $10,000 monthly.
Emphasis on the value of writing skills and attracting opportunities through writing.
Success in ghostwriting despite not being in the finance world, by focusing on personal growth content.
Utilization of Twitter and remote work to excel in ghostwriting for side income.
Acknowledgment of limitations in scalability, but highlighting ghostwriting as a valuable option for additional income.
Ghostwriting as a valuable service for beginners and freelance writers to earn 5 to 10K a month.
Emphasizes learning writing skills, providing valuable services, and focusing on lead generation strategies.
Ghost Riders help in developing software for large creators and educating them on monetizing through SAS.
The preferred lead generation method involves a 5-day email course to build trust quickly and deliver value upfront.
Contrasts traditional VSLs by offering value upfront.
The effectiveness of using text over video for long-term engagement is discussed in the segment.
A five-email text course is emphasized as a high-quality lead magnet compared to a standard PDF download.
The importance of generating conversions over attention is highlighted, focusing on addressing objections and pain points to encourage action.
The concept of a premium ghost riding Academy is introduced, teaching how to educate potential clients and sell services effectively.
The strategy involves personalized outreach, providing value, and focusing on conversion-driven results.
Importance of monetizing a SAS through strategic objection-breaking and clear calls to action.
Email courses are effective in building trust and generating revenue, with higher open rates and long-term benefits compared to lead magnets.
Speaker provides examples of successful email courses from their own businesses.
Success of a beginner writing course based on a 5-day email sequence, showcasing the power of building trust with customers over time.
Importance of providing valuable educational content for free to attract clients.
Emphasizing implementation over information, focusing on packaging, speed, and outcomes.
Encouraging transparency and sharing expertise openly to establish authority.
Highlighting the benefits of offering high-quality content upfront without holding back the best information behind a paywall.
Suggesting that by providing valuable content for free, individuals are more likely to seek further assistance and pay for additional services based on the value received.
Importance of email automation in business growth.
Educational email courses are valuable lead magnets that build trust with potential customers over time.
Strategy is effective in various niches, leading to increased sales and significant monthly revenue.
Individuals can create micro-agencies specializing in ghostwriting services using email courses for business growth.
Importance of addressing mistakes in marketing strategies.
Implementing a 5-day email course to capture TikTok traffic and educate potential customers for increased returns on marketing investments.
Emphasis on loss aversion as a key psychological factor in business negotiations.
Highlighting the significance of framing benefits over losses in marketing.
Focus on plugging holes in businesses for effective scaling instead of just seeking growth.
Transitioning from ghostwriting to creating a digital product through a 30-day writing challenge.
Charging participants for accountability and feedback, leading to financial success.
Balancing a full-time job while doubling income from the side hustle.
Quitting the full-time job once side income surpassed it.
Facing personal struggles, such as his mother's cancer diagnosis, during the intense work period.
Speaker's journey of caregiving leading to business expansion.
Speaker discusses business ventures - Ship 30, Type Share, and Premium Ghostwriting Academy.
Emphasis on learning to run different businesses and value of group coaching.
Mention of paid newsletter, Right with AI, and revenue generated via Substack.
Transition from cohort-based to self-paced learning.
Motivated by the need for flexibility and reduced pressure for students.
Partnership with Nicholas Cole enhanced educational content and scaled the initiative.
Collaboration led to successful businesses and emphasized the importance of strategic partnerships.
Overview of software tools used in business for automation and efficiency.
Tools mentioned include Slack for communication, Airtable for CRM, Zoom for meetings, Notion for organizing SOPs, Type Share for publishing, and Deadline Funnel for expiring discounts.
Additional tools used include ConvertKit for email marketing and Substack for paid newsletters.
Explanation provided for using tools like Card for landing pages and reflections on past practices like scheduling team meetings on Fridays.
Insights drawn from experiences at Black Rock to inform tool selection and business practices.
Importance of Software Tools in Business Efficiency
Evaluating software options based on features and integrations is crucial for business success.
Zapier is highlighted as a valuable tool for seamlessly connecting different software pieces.
Understanding the pros and cons of various software tools, including SAS companies, is essential for informed decision-making.
Running a SAS business involves complexities like raising funds and facing unique industry challenges.
Challenges of maintaining a SAS business with recurring revenue are discussed.
Plateauing growth due to churn rates is highlighted, emphasizing the need for tighter feedback loops.
Transition to selling at a multiple of Enterprise Value for long-term success is suggested.
Development of a web app for writing online is described, offering templates, idea generation, formatting, and publishing capabilities in one place.
The app streamlines the writing process for users.
Challenges and strategies of using paid ads to scale a business.
Converting new audiences with paid ads is more difficult than engaging existing followers.
Effective ad creative and analyzing cost data are crucial for optimization.
The goal is to increase visibility and reach a wider audience to potentially double business performance.
Importance of Sales Psychology in Marketing.
Investing in learning and testing sales strategies is crucial for success in marketing.
Incorporating psychology into sales pitches using frameworks like 'what how why' and '3X3' can guide content creation.
Building trust with customers by explaining actions and offering valuable information is essential.
Generating income should be prioritized over social media metrics like followers and likes.
Impact of social media on content creation and optimization for virality.
Emphasize on writing actionable content and avoiding excessive focus on mindset.
Approach to writing and repurposing content, emphasizing continuous learning and improvement.
Reference to Daniel Kahneman's work on cognitive biases to highlight limitations of theoretical knowledge without practical application.
Advocacy for practical experience and iterative learning as key to skill development.
Importance of synthesizing information and distilling it for sharing with others.
Dedication is necessary for success in creating content on YouTube.
Preference for in-depth, longer-form videos on YouTube to delve into complex topics and share valuable insights.
Content should reflect deep dives into subjects and convey emotions felt during the process.
Importance of Authenticity and Expertise in Content Creation on Social Media Platforms.
Emphasizes the value of sharing personal stories and experiences to stand out.
Highlights the challenge of script writing and creating emotionally engaging content.
Encourages creators to differentiate themselves through genuine storytelling and expertise.
Avoid impostor syndrome by being authentic and showcasing expertise.
Editing Tips for Writers
Setting a timer to limit editing time is suggested to increase productivity.
Editing on a different screen than writing can help catch more errors.
Reading writing aloud is recommended to identify awkward phrasing or mistakes.
The importance of writing skills is highlighted for various platforms like YouTube, Twitter, and LinkedIn, with a focus on its lucrative nature in today's age.