Here's Why Top Writers Approach Writing Like an Investment
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Chapter 1: The Investment Mindset in Writing
Writing daily is an excellent strategy for expanding your audience, but it can be quite challenging. Many writers begin their journey publishing stories that don’t gain traction. Initially, it’s common for no one to read your work; I experienced this myself, taking six months to reach my first 100 followers. Now, I consistently gain over 150 followers every month. This transformation stemmed from a commitment to writing and, more importantly, treating it like an investment.
In this context, treating writing as an investment involves being intentional about your content, recognizing its short-term and long-term impacts.
Timely Articles vs. Evergreen Content
A crucial decision in writing parallels investing: determining whether your article will serve as a short-term trade or a long-term asset. This distinction is akin to "timely" articles versus "evergreen" content. Timely articles attract significant attention for a brief period, often tied to current events, such as a sports team winning a championship or the election of a new president. While they can generate substantial views, their relevance fades quickly.
On the other hand, evergreen articles maintain their relevance over time. They address universal topics, like "5 Traits of Great Leaders," remaining pertinent regardless of when they're read. This type of content provides ongoing value, continuing to attract readers long after publication.
Both forms of writing have advantages and disadvantages. Timely articles can yield rapid rewards but may require constant effort to maintain visibility. If you produce solely timely content, any slowdown in writing can diminish your audience's interest, potentially wasting your efforts. However, if a timely piece goes viral, it can significantly enhance your visibility.
Evergreen content, while valuable, may not garner immediate attention, and even the strongest topics can become outdated as trends shift. For instance, writing about traditional combustion engine cars might have seemed timeless a few years ago, but now its relevance is questionable.
Writers Invest Their Time
Unlike financial investments, writers invest their time. Crafting quality content requires careful consideration of where to allocate your efforts. Just as you would conduct thorough research before investing money, you should approach your writing with the same diligence. The more effort and thought you put into your stories, the greater the potential payoff. Even if a well-crafted piece doesn’t perform as expected, learning from these experiences is a vital part of the writing journey.
Additionally, having a strategy is essential, similar to managing investments. Identify your target audience, understand the problem your story addresses, and clarify what makes your work appealing. This is especially important for new writers who lack an established audience; without a clear focus, your writing may miss the mark.
Niche vs. Broad Appeal
Understanding your audience is crucial. Consider what matters to them and who they are. Writing for broad appeal can attract a wider audience, but it often leads to fierce competition and may lack substance. In contrast, niche topics may reach fewer readers but can resonate more deeply, allowing you to stand out.
Many successful writers find a balance between niche and broad topics. Personally, I often explore semi-niche subjects while occasionally addressing broader themes. Focusing on a niche can be beneficial if it's an emerging market; as interest grows, so does your presence in search results. Conversely, if the niche is stagnant, growth can be challenging.
Just as investors diversify their portfolios, writers should blend their content. My writing encompasses topics like innovative technologies and investments, while I also delve deeper into specialized areas like equity crowdfunding and the JOBS Act. This approach allows me to attract a diverse audience while solidifying my position in a niche.
Your Stories Represent Your Portfolio
To clarify, your collective writings form your portfolio. Striking a balance between evergreen and timely articles, as well as between niche and broad appeal, is vital. Decide whether you want to produce quick pieces for short-term gains or invest time in solid evergreen content for long-term benefits. Ultimately, each writer’s portfolio will differ, but the goal should be consistent growth and progress.
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Chapter 2: Enhancing Your Writing Strategy
Explore insights from Michael Mauboussin on effective writing strategies and how to elevate your craft.
Learn how to write like Warren Buffett and implement his successful techniques in your own writing.