So far, we have talked about getting clear on your message and audience, choosing your platforms, writing consistently, publishing books, and expanding your network. Once you have those in place, then you are ready to take advantage of Milestone #6: Create streams of income based on your writing and services.

Why it’s important: All of the successful writers I know personally have multiple streams of income. This mitigates risk and lets you grow several streams that can support you. They are also intertwined, and if you think like a business owner, you can always create new streams.

As I mentioned before, I believe that many writers should consider both sides of the equation – doing client work as well as focusing on income based on their own IP. Each side informs the other side.

This whole idea of streams of income could take up a whole series on its own, but for now, I just want you to grasp the idea that making money from books is only one of many, many ways to make income with your writing.

The main challenge that most writers face in this regard is learning to think like a business person. It is so easy to focus just on the creative aspect of writing. But you also have to think like an entrepreneur who is running a business…because if you want to make money with your writing, that’s exactly what you are. I want you to become comfortable with the idea of being a business owner and entrepreneur.

Daily Question: How comfortable are you with the concept of creating multiple streams of income based on your writing?