Does this sound like you? You’ve been a writer most of your life. Throughout your school years, you received good grades in English (or some other language) and wrote the best compositions in class. When working, maybe your job titles never specifically labeled you as a writer, but you turned in the most readable reports in your department.
Now you’re retired. Somewhere in your mind, you know the value your skills always bring. Can you use your abilities for a profitable venture? Yes! Your writing skills can be a basis for a fantastic company. Let’s dive into how seniors can morph their writing skills into a profitable business.
Identifying the Business Potential in Your Writing Skills
Hundreds of businesses fall under the category ‘Writing businesses.’ You’ll find that writing skills for one niche differ from those for another. So, it’s up to you to determine which writing business resonates for you. As an entrepreneur, it’s also up to identify your niche-specific writing strengths and weaknesses to decide what needs to be addressed, improved, or outsourced for long-term success.
Think like an entrepreneur.
Whether freelancing for local businesses, writing resumes, providing a specialized service, or offering expertise in a specific field, understanding the market dynamics around your writing abilities is pivotal. As with any business, explore how your writing abilities can fulfill a need or solve a problem in your market. For some business niches, this is easier than others. For example, you’re considering a writing business freelance writing business. Which local business owners need your expertise? A lot of them! If they are small, chances are they won’t have a writer on staff. Your expertise is required! Restaurant owners might need someone to craft menus. Or, they may need someone to provide press releases for local and online publications. Maybe they need more technical expertise, like writing articles for the web.
Restaurants aren’t the only businesses that employ freelance writers. For additional popular writing businesses, click here.
Even if you only want to supplement your retirement income by a few thousand dollars per month—as is the desire for many seniors—keep in mind that you’re still pulling together a business, albeit a micro business.
Make sure that you choose a niche writing business best for you. Will you write ebooks or books? Will you freelance for local businesses, etc?
You’ll focus on improving your niche-specific writing, but to give your business the best chances for success, focus on the business part just as seriously.
For example, have you:
- Identified your target audience?
- Looked to see what sells to your audience?
- Recognized what sets your writing skills apart?
If not, start now. You’ll need a business plan.
An actionable business plan can be your guide and help you to align your business actions with defined goals, strategies, and milestones.
Here are a few concepts a business plan will help you with. You’ll:
- Define clear objectives and strategies.
- Outline the financial projections.
- Identify challenges and formulate mitigation strategies.
Legalities and Formalities
Embarking on the business path requires tending to various legal and formal aspects like business registration, taxation, and compliance.
Choose a suitable business structure.
Register the business and take care of legal formalities.
Make a Keep thorough records of income and expenses.
Local resources might include small business associations and online resources such as the SBA and SCORE.
Branding and Positioning
Constructing a brand that resonates with your potential clientele is essential for creating an identity and garnering visibility in the market.
Ideas for Success:
Create a sample (of your product, if you can) to show potential clients (if your business calls for it).
Create a memorable logo and tagline.
Free resources to craft your logo include canva.com.
Marketing and Selling
Assure that you’re implementing effective marketing strategies and that the products or services you create with your writing services reach the intended audience to drive sales and growth.
Tips for Success: If you’re new, start offline. Yes, even an online business needs an offline presence. Download my FREE book, 22 Easy, Doable Offline Marketing Ideas for Nonmarketers. And don’t overlook:
In addition to offline marketing, your long-term goals might include creating a website, email marketing, or even social media marketing.
But including an offline strategy is still smart because it will help you to build a rapport with the people who will be your customers.
Invest in continuous learning and development.
Networking and Collaboration
Join business associations and groups, specifically organizations that align with the mission of your business. Check online for Children’s writing groups, Freelance writing groups, Script writing groups, etc. Your list might include online and offline niche-specific groups. Make your list as extensive as you need.
Collaborate with complementary businesses.
Attend events and exhibitions.
Local resources might include small business associations and online resources such as the SBA and SCORE.
Turning your writing skills into a business can be rewarding. Remember, the heart of your retirement writing business lies in the passion and joy it brings. Ensure that these remain steadfast companions on your entrepreneurial journey, coloring your adventures with hues of happiness, fulfillment, and success.
Develop a website to establish an online presence.
Deliver consistent messaging across all platforms.
Embark on your journey with confidence, and may your passions bloom into prosperous ventures!
Are you starting a home based venture? Let us know how you’re doing. We want to celebrate with you!
