The Rose & Thorn 
a literary e-zine

 

 

 


Craft of Writing

 

 

 

The Only Business is Selling:
Applying Lessons from Wall Street to Making More Money Writing

by
Antonio Graceffo

 

The first day of training on Wall Street we all sat dutifully waiting for the instructor, Esther Borne, to tell us how to make millions. It surprised us when she opened with a question.

"What do companies do?" she asked.

Trying to make an impression on the instructor, we all raised our hands with varying answers. She shook her head as if she knew on that first day that we were all hopeless.

"All companies in the world," she began with great authority, "do exactly one thing. They sell a product."

We were silently baffled. Don't companies do different things? Gas companies, drug labs, oil firms, technology think tanks, consulting services, didn't they all do different things?

After we'd had a minute to stew she repeated, "All companies do exactly  one thing. They sell. And as soon as you learn that you will know the secret to earning millions." She told us one more thing before she left for the day. She said, "Each of you is a company. You must remember that. And to make money you will have to go into the world and sell your services to the top bidder. Run your career, whatever it is, like a company. Sell constantly. And you will be rich."

Being a successful writer is no different from being a successful anything else. By the Esther Borne definition: A writer is a small company that sells articles, stories, books, and copy. You may see yourself as an artist. But in the end it isn't creating great works of literature that pays our bills. It is selling our work that keeps us fed and clothed.

On Wall Street we used the expression, "Ask for the order." You have to ask people to buy. You can't just sit there, indifferent, like a sleepy merchant, letting the world pass by your shop. You must be like the carnival barker who stands on a soapbox with a microphone enticing people to enter and buy.

You have to query. You have to submit. You have to call, remind, nudge, and harass. Whatever it takes, you can't let editors forget who you are. They have to publish someone's work, it might as well be yours. Talent is not even an issue. If it were there would be no bad books and no bad movies. The thing that matters is your salesmanship. You have to sell your work.

Time is money. You must work efficiently. How long it takes you to write a piece is up to you. But think about the amount of money you will get for a given piece and decide if it is worth spending weeks, months or days on.  Use every second of every day to your advantage.

Most people work about ten percent of the time and talk or worry about work the rest of the time. Set a realistic writing goal for yourself each day.  Make a schedule and stick to it. Hemingway wrote four pages a day. Jack London wrote 1,000 words a day. J. K. Rowling mapped out the seven-book Harry Potter series and set a time frame to finish the whole series.

Hemingway gave us nearly 70 short stories and about fifteen books. Jack London wrote fifty books, 400 articles, and 200 short stories. Shakespeare wrote countless plays. If they had taken ten years to complete a book we would never have heard of them.

And, of course, if they didn't sell they would have starved.

If you are lucky enough to be able to write full time then you have to imagine that you still have a boss. You have to set the alarm, get up every day, and work. If you are still working a day job and writing at night then you have to pretend you have two bosses, and satisfy them both.

Wall Streeters are taught that the products are secondary. It is the clients that make the business. Without clients you can't sell. Selling is the most important task in a business. Eighty percent of your time should be spent looking for new clients. This leaves only twenty percent of your time for production.

How this breaks down for me as a writer is this. I write an average of six pages a day. That requires around two to three hours of writing. The entire rest of my day is spent between marketing my work to existing contacts and looking for new contacts. But remember, a day doesn't have eight hours.  You lost that luxury when you quit your salary job. A day has twenty-four hours. And a week has seven days, not five.

Thomas Edison holds more patents than any person who ever lived. He used to work to exhaustion each and every day. He often collapsed in his workshop and had to be carried out. He became wealthy, not just because of the brilliance of his inventions, but because of his constant hard work and self-promotion. He sold constantly. And he used brilliant business strategies like staggering the release of his various inventions so as not to cannibalize on the success of his previous work. He also dubbed himself The Wizard of Menlo Park. The papers picked it up and soon he was seen as the greatest expert in the world. It wasn't because he was the greatest mind in the country. It was because he said he was the greatest mind in the country.

Since most people will write better when they are fresh, base your workday around your writing. For example, I can get up very early and function on only a few hours of sleep. But my body seems to function best at about 11:00 AM.  So I get up anywhere from 5:00 to 7:00 AM and return email. This is something I can do while I am still bleary eyed and groggy. I eat breakfast at my computer.

This is the time when I read the responses to the previous day's queries. Since I am an adventure writer this is also when I answer requests for photos. If an editor sends me a piece and says, "Please make the following changes," I make the changes right online and resubmit it instantly. If I get a rejection for cause I rewrite the piece right online and resubmit.  If I get a rejection with no explanation I immediately submit the next piece I have waiting in my cue of finished work. Always respond instantly to editors' questions and rejections. Never leave work to be done later.  Believe it or not, the editor who just rejected you is your best prospect for publishing your next piece because your name is fresh on his or her mind.

At 11:00 I start writing, I write until about 2:00.  Then I watch TV while I eat lunch. I take a nap for about a half hour to an hour. When I wake up I have coffee while I surf the net looking for new markets.

The best way to find markets on the web is by doing keyword searches. Start with some topic closely related to your work. For me, the first one was "adventure." I tracked down the contact information for every publication in this genre. Don't miss any media. Newspapers and magazines are the most obvious ones. But there are also newsletters, quarterlies, monthlies, mixed media, and don't rule out the web.

Websites are paying as much as print media now. But the good thing about websites is that they use a lot more content as they are changing constantly. They are also easier to do business with since most prefer to do business by email.

Wire services and content providers are other places to submit your work.  These companies buy work, usually cheaply, and provide it to news magazines and websites for a monthly subscription fee. They may not pay a lot, but they need a nearly unlimited amount of material. So they can be a good financial base for your writing business.

When I am finished searching for the day, I don't shut down my computer until I have sent a query to every single periodical I found that day. Then I record all of the periodicals, and the work I sent them, in a database. I submit to the periodicals in my database on a regular schedule. Now these new entries will become part of my normal rotation.

How many hours should you spend looking for new markets each day?  That depends on how much money you want to make. If you assume that you only have a one percent success rate on queries, then you need a data base which is one hundred times the number of markets you need to make a living. In other words, if you need to sell five pieces a month you may need to send out 500 queries per month.

I search for new markets usually until about 9:00 PM. All day I carry a notebook with me, jotting down the loose ends I need to tie up. Before I go to sleep I write out a very neat itemized list of what I need to do the next day. This list would include who I need to call, who I need to follow up with, what pieces have to go out, who they have to go to, and what piece is next in my query queue. Also, I write down any new keywords that I have thought of to use for my market search the next day. I sleep and it begins all over again the next day.

So why not get out there and follow Esther Borne's advice and sell, sell, sell yourself? You have everything to gain.

 

Born in New York City, Antonio spent much of his youth in the Appalachian Mountains of Tennessee. Fluent in Italian, Spanish, German, and Mandarin Chinese, he traveled to Europe, Asia, and Latin America to complete education.  He spent nearly seven years in the US Merchant Marines and US Army National Guard.  Antonio studied at Tennessee State University, University of Mainz, Germany, Trinity College, England, Heriot Watt University, Scotland, Universidad Latina, Costa Rica, and The Taipei Language Institute in Taiwan. He has competed in martial arts and boxing for over twenty-five years and has studied at the Shaolin Temple in Mainland China. He currently lives in Taiwan.

His writing has appeared in the following publications: Marco Polo Travel Magazine, Travel in Taiwan, Escape Artist, Taiwan Ho, Kung Fu Magazine, Travelers Impressions, Black Belt Magazine, Views Unplugged, The Write Market, Martial Arts Planet, Travel Magazine (UK), Radical Adventure Magazine, Bike League of America, The Rose and Thorn, The Travelogue, Close Quarters Combat, The Travel Rag, The Elizabethton Star, Hack Writers, Blueberry Press, The Bristol Herald Courier, The Blue Lotus Club The Italian Voice, The Italian Tribune, Pagina Uno, I Soldi, and America Oggi.

His book, The Monk From Brooklyn, about his studies at the Shaolin Temple, has been accepted by a publisher and will be available in 2004.  His book, Adventures in Formosa, will be available in Taiwan In May of 2004.

 

 

 

Have comments you'd like to send the author?
Please e-mail
Antonio or fill out the form below:

 

Comment (s) / Feedback 

Your name:

Your email address: (e.g.: you@aol.com)
 

Title Of Story/Poem/Article

 

Send the Author your comments

Hit Counter

 

Don't forget to bookmark
The Rose & Thorn (A Literary E-zine)
   

Magazine | About Us |Advertising Info | Archives |Author Interviews |Awards
   Boards | Books |Chat | Craft Of Writing | Credits |Links | Markets |Masthead
Newsletter |Resources |Scribe's Page | SignUp | Submissions |Travels | Web Rings  

 

[Take Me Home]