🚢 Atomic Essay #18: “Nobody Makes A Living As A Writer”
My very last week of college, all my teachers ran through the same speech:
“Writing is thankless work. It’s hard. It doesn’t pay very well. When you do the math on the hours you spend writing and what you end up earning in the end, you’re making pennies on the dollar. Nobody makes a living as a writer.”
My name is Nicolas Cole, and I'm a writer, ghostwriter, and entrepreneur.
Want the full story? Start here 👇
I started writing online early on.
At 17 years old, I was one of the highest-ranked World of Warcraft players in North America, and one of the first e-famous gaming bloggers on the internet.
I wrote a book about it, called Confessions of a Teenage Gamer. amzn.to/3p7ffYc
After HS, I spent a year at University of Missouri studying journalism. Wasn't my thing.
My sophomore year, I transferred to @ColumbiaChi and studied Poetry, then Music Production, then Piano Performance, before finally settling in Fiction Writing.
- How to create new categories and redesign existing categories.
- Why "Product-Market Fit" is flawed & dangerous thinking, and what you should be focused on instead.
- Why category creators generate outsized returns for investors.
Through our research, we found that 21% of the 600ish companies on the Fortune 100 list are category creators. For 79% of fast-growing companies, $1.00 of revenue growth = $1.77 in market cap growth.
For the 21% category creators, $1.00 of revenue growth = $4.82—nearly 3x more
When I was 26 years old, I started my first company with one of my closest friends.
18 months later, we had 20 full-time employees & several million in revenue.
❌💸Here are the mistakes we made that cost us hundreds of thousands of dollars ❌💸👇👇👇
Mistake #1: Scaling the wrong product.
Our V1 offering was 12 ghostwritten articles per month for 1 executive/founder client. That level of output was absurd, but at the time I was used to writing 1 new article per DAY for myself.
Clients signed up, but many fell behind.
Every time a client fell behind, they would "pause" and then we'd be stuck with the balance of overdue articles, which ate into our profit margin heavily over time.
We scaled with that broken V1 product for months without even considering bringing the workload down.