Coffee With Cole: The Digital Writing Podcast Episode: The Fastest Way to Make $3,755,972 as a Writer
Host: Nicolas Cole
Release Date: January 29, 2025

Introduction

In this episode of Coffee With Cole: The Digital Writing Podcast, host Nicolas Cole delves deep into the lucrative world of ghostwriting. Drawing from his personal experience of generating $3,755,972 in revenue as a ghostwriter before turning 30, Cole offers actionable strategies for freelance writers aiming to elevate their income from minimum-wage blog posts to high-earning ghostwriting gigs.

1. Differentiated Positioning

Cole begins by emphasizing the importance of how writers position themselves in the market. With over 53 million freelancers in America and 1.5 million freelance writers on Upwork alone, standing out is crucial.

• Key Insight: "What you call yourself matters."

  • Timestamp: [00:45]

• Example: Transitioning from "freelance writer" to "ghostwriter" significantly enhances perceived value and differentiation.

• Quote:

  • "If you call yourself a ghostwriter, even if the work you're doing is identical to what you were doing as a freelance writer, the association changes."
    • Timestamp: [04:30]

2. Building Direct Relationships with Decision Makers

Ghostwriting offers the unique advantage of connecting directly with top-tier professionals such as CEOs, founders, and investors.

• Services Highlighted:

  • Ghostwriting educational email courses
  • Ghostwriting social content for personal branding
  • Ghostwriting weekly newsletters on platforms like ConvertKit or Substack

• Quote:

  • "Once you get in with a CEO, not only do they give you more opportunities inside their business, but most founders and CEOs are friends with other founders and CEOs, which leads to referrals, which leads to more projects, which leads to more money."
    • Timestamp: [07:15]

3. Enhancing Perceived Value

The terminology used to describe one's role can drastically affect client perceptions and willingness to pay premium rates.

• Analogy:

  • Comparing a "cashier" to a "concierge" illustrates how different titles carry different associations and perceived values.

• Quote:

  • "When founders or executives hear the word ghostwriter, they think of a specialist. So someone who works exclusively with their echelon of person, which is why ghostwriters have a much easier time charging a premium."
    • Timestamp: [10:50]

Four Strategic Upgrades to Boost Income

Upgrade 1: Change Your Bio

Craft a concise and specific bio that clearly states what you do and who you serve.

• Template:

  • "I ghostwrite [specific asset] for [ideal client]."
    • Timestamp: [12:30]

• Examples:

  • "I ghostwrite social content for fintech founders."
  • "I ghostwrite weekly newsletters for YouTubers."

• Quote:

  • "When you say I ghostwrite educational email courses for personal trainers, this makes it very easy for them to organize you somewhere in their head."
    • Timestamp: [15:00]

Upgrade 2: Be Your Own Case Study

Demonstrate your expertise by applying your services to yourself, showcasing real-world results.

• Benefits:

  • Allows you to experiment without client risk
  • Keeps you updated with industry trends
  • Provides public proof of your capabilities

• Personal Anecdote:

  • Cole shares how his self-practice led to landing his first major client.
    • Timestamp: [18:45]

• Quote:

  • "Being your own case study does three very important things... It creates a flywheel, it puts your finger on the pulse of what actually works, and it provides public proof."
    • Timestamp: [19:30]

Upgrade 3: Master the Art of Free Consulting

Shift from selling services to providing value upfront through free consulting.

• Components of Free Consulting Script:

  1. Identify the client's problem
  2. Explain the cause of the problem
  3. Highlight the negative consequences of not addressing it
  4. Offer a solution
  5. Outline the benefits of the solution
  6. Describe the ultimate positive outcomes

• Quote:

  • "The way you land clients is by doing what I like to call free consulting... provide the same level of value you would give a paying client upfront for free."
    • Timestamp: [22:15]

Upgrade 4: Packaging Your Services

Present your services as comprehensive packages rather than individual freelance tasks.

• Comparison:

  • Writer A: "I'm a good writer. I charge $50 an hour."
  • Writer B: "I specialize in writing newsletters for fintech founders to build your email list and retain readers. I charge $3,000 per month."
    • Timestamp: [25:00]

• Five-Step Checklist for Packaging:

  1. Specialize: Focus on a specific service and niche
  2. Consult the Client: Offer tailored recommendations
  3. List Tangible Deliverables: Clearly define what’s included
  4. Reduce Client’s Time Involvement: Make it easy for clients
  5. Set Clear Pricing: Use flat rates or per-project fees

• Quote:

  • "Writer B is going to get the job every single time because they aren't selling their skills as a writer. What they're selling is a package service."
    • Timestamp: [28:30]

Upgrade 5: Adjusting Your Pricing

One of the most straightforward yet challenging steps is simply to charge more for your services.

• Common Objections Debunked:

  • "I don't have enough credibility."
  • "I can't charge more in my niche."
  • "No one will be able to afford my services if I up my pricing."

• Reality Check:

  • There are always clients willing to pay premium prices.
  • Higher rates can lead to higher perceived value.

• Quote:

  • "The people who take my advice and charge more make more money. And the people who don't, don't."
    • Timestamp: [31:20]

Conclusion

Nicolas Cole encapsulates the essence of successful ghostwriting by highlighting differentiation, strategic relationship building, perceived value enhancement, service packaging, and confident pricing. By implementing these five upgrades, writers can transform their freelance endeavors into highly profitable ghostwriting careers.

• Final Takeaway:
  • "Change your bio. Be your own case study. Master the art of free consulting. Package your services. And finally, just charge more."
    • Timestamp: [34:50]

This episode serves as a comprehensive guide for writers seeking to maximize their earning potential through strategic positioning and service optimization in the ghostwriting industry.