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18 Actionable Tips To Diversify Your Income As A Freelance Writer

Updated: Jun 12

Diversify income as a writer

Why bother with diversifying?

I’ve been a freelance writer for years and I can tell you that it’s a great profession. There’s absolutely nothing that I would change about this life.

That being said, there’s one thing that every freelance writer is a bit anxious about — the clients who can just vanish.

Of course, over the years, I’ve learned to spot the scammers from afar but the fundamental fact is, you never know when you’ll run out of clients and that order list goes dry. That’s what made me realize that I needed to have alternate revenue sources. That’s when I started looking at what I could do. So, that’s what this blog is. It’s a list of ideas and methods that I’ve tried (and been successful at) or have seen my friends try and be successful at.

So, let’s get started.

Blog Your Heart Out

An old one but a good one. Blogging is simply the most effective way to build a brand around yourself. It’s a platform where you can share your thoughts, ideas, and experiences. In other words, it’s where you totally show off! This draws all the clients to you, of course.

But there’s an added advantage, too.

Blogs bring in a lot of money.

I’m sure you know this already but blogs really are a great way to increase your income.

More importantly, you’re not dependent on clients for this money. The money comes from ads that you can share on your blog. You could do sponsored posts and some affiliate marketing, too. It takes a while to build your blog, of course. But if you’re consistent, market it well, and add posts to it regularly, there’s some really good money to be made here.

Write for different niches

When I first started to write, all that I ever wrote was about tech. I would write whitepapers, technical deep dives, enterprise tech, and consumer-facing tech. Basically, tech. It so happened that one of my clients was chatting with his friend (who works in the real estate sector) about content and told him that I was pretty good. This person reached out to me and asked if I could write a few blogs for his company’s website.

Let me be clear: I knew nothing about real estate or about what writing for the real estate sector entailed. Zilch. Nada. He said it wasn’t a big issue and just hired me anyway. This was one of the most profitable collaborations ever, for me.

I just always assumed that I would be hopeless at any kind of writing that didn’t involve tech. It turned out to be a wrong assumption. The KPIs for all the blogs that I wrote were actually pretty great!

Following this, I started writing fiction, too!

I’ve learned that I, and a lot of writers, underestimate ourselves. We pick a niche and just stick to it. But writing doesn’t have to be limited to one niche. When you have the time and you’re willing to put in some effort to learn about different niches, do it! It’ll make you more versatile as a writer. The more niches you dip your toes into, the more gigs you'll land, and the more diversified your income will be.

Say Hello to Content Mills

I know, I know, content mills can be controversial. Some writers swear by them, while others avoid them like the plague. But let me tell you, they've been a pretty sweet deal for me when I needed some quick cash. Sure, they might not pay as much per project, but they're a reliable source of income when you're in a pinch. Plus, they can help you polish your writing skills and build up your portfolio.

Get Your Teach On

You've got mad writing skills, so why not share the love and teach others? I began offering writing workshops, coaching sessions, and even online courses, and it's been a fantastic way to diversify my income. Not to mention, it feels great to help others hone their craft!

E-books to the Rescue

E-books are a huge business, as it turns out. I wasn’t aware of it, I confess. But once I knew, I wrote one. I had quite a bit of content that I’d already written. So, I decided to compile it into a handy-dandy e-book. I self-published it on Amazon, and voilà, another income stream

was born.

If you have a wealth of knowledge on a specific topic or a collection of articles, consider turning them into an e-book. It's a low-cost, low-risk way to earn some extra cash and showcase your expertise.

Embrace the Power of Social Media

Being a social media butterfly has its perks! For someone who’s generally quite reserved, adapting to social media hasn’t been easy. It isn’t something that comes to me naturally. But the importance of social media isn’t lost on me.

So, even though isn’t my natural habitat, I am on social media. LinkedIn and Twitter, to be specific. I have received so many opportunities from LinkedIn. In fact, it’s quite simply my biggest source for clients.

All that I had to do was update my profile, start posting and interacting a bit, and just generally be there.

There are just so many opportunities on places like LinkedIn and Twitter that not being on these platforms is an active money-losing proposition.

Plus, it's the perfect way to network with other writers and industry professionals. Don't be shy, put yourself out there, and watch the opportunities roll in!

Partner Up!

Remember that old saying, "two heads are better than one"? Well, it's true! I teamed up with fellow freelance writers, graphic designers, and other creative professionals to offer package deals to clients. It's been a win-win for everyone involved, and it's a brilliant way to diversify your income while providing top-notch service to clients.

Offer Editing and Proofreading Services

I don't know about you, but I'm a bit of a grammar nerd. So, it only made sense for me to offer editing and proofreading services alongside my writing. I've found that many clients appreciate having someone who can do it all. Plus, it's an excellent way to fill the gaps when writing gigs are scarce.

What’s more, editing has allowed me to completely upgrade my pay. I can write, edit, and manage content, now. So, there are more services on offer for potential clients and once you have a rapport with a client, they’ll keep coming back to you.

Venture into Ad Writing

I never thought about ad writing when I first started writing. Long-form content was what I wrote and that’s where I thought I should stay. Boy, was I wrong!

Ad writing is a huge business and it’s very lucrative. If you’ve got the wits for it, try ad writing. There’s a ton of money to be made there.

Ghostwriting Gigs

Let me tell you, ghostwriting has been quite an adventure for me. At first, I was a bit hesitant – after all, you don't get to claim the work as your own. But I soon realized that it's a lucrative way to diversify my income. I've ghostwritten everything from blog posts to full-length novels, and it's been a great way to keep my writing muscles flexed while earning some serious cash.

Create a Membership Site or Patreon

Once you grow your blog or website and have an audience, consider creating a Patreon account or some members-only content. It’s an incredible way to earn recurring income while connecting with like-minded individuals. You can offer exclusive content, behind-the-scenes insights, or even one-on-one coaching to your members. Alternatively, setting up a Patreon account allows you to receive financial support from fans while providing them with unique perks and rewards.

Apply for Writing Grants and Residencies

When I stumbled upon writing grants and residencies, I was blown away by the opportunities out there. From funding for specific projects to all-expenses-paid retreats, these programs can provide a much-needed financial boost and allow you to focus on your craft. Plus, they look great on your resume!

Enter Writing Contests

Writing contests are not only a fantastic way to showcase your skills and gain exposure, but they can also be a nice little income stream. I've entered (and won!) a few contests, and the prize money has been a pleasant surprise. Plus, the deadlines keep me motivated and help me hone my craft.

Host Webinars and Online Workshops

If you think you’re going to be good in front of a camera (with some effort towards public speaking, most people are), consider hosting webinars and online workshops. If you don’t have the right contacts yet, just host a few for free. It’ll give you a portfolio of content. It’s incredibly fun and a great way to improve your public speaking skills.

What’s more, if you’re witty and charming, you can actually earn a lot by hosting webinars. There’s a shortage of well-spoken, interesting, and witty people who can host events. Capitalize on it.

Pursue Traditional Publishing

As a freelance writer, I never thought I'd be interested in traditional publishing. But after self-publishing my e-book, I realized I wanted to explore that world further. I started submitting my work to literary magazines, anthologies, and even worked on a full-length manuscript. Although the process can be slow and competitive, it's an excellent way to diversify your income and gain social credence as a writer.

Offer Website and UX Writing Services

With the digital world constantly expanding, I realized there's a huge demand for website and UX writing. So, I decided to hone my skills in this area and offer my services to clients. From creating engaging landing pages to crafting seamless user experiences, this type of writing has not only broadened my income streams but also made me a more versatile writer.

Network, Network, Network

I can't stress this enough – networking is everything! From attending writing conferences and joining online forums to connecting with other freelancers and industry professionals, networking has been my key to landing some of my most lucrative gigs. Plus, it's a fantastic way to make friends who share your passion for the written word.

Keep Learning and Evolving

Finally, the most important tip of all — never stop learning! The freelance writing world is always changing, and the best way to stay ahead of the game is to continuously improve your skills. Attend workshops, take online courses, read up on industry trends, and never be afraid to step out of your comfort zone.

So there you have it. These are some of the best ways to diversify your income as a freelance writer. It's all about being open to new opportunities, never being afraid to experiment, and always keeping an eye out for creative ways to make money.

Trust me, it's worth it. You'll feel more secure, your bank account will thank you, and you'll be able to focus on what you truly love – writing! If I can do it, so can you! So go forth, unleash your inner writing wizard, and diversify that income like there's no tomorrow!

If you’re looking for some high-paying writing jobs, check out Simple Job Listings. It’s a list of great, high-paying jobs that I personally curate. It’s completely free, too!

Oh, and one last thing – don't forget to share your own success stories, challenges, and tips with the rest of us. After all, we're all in this together. Here's to a prosperous, word-filled future!

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