The first step of most entrepreneurial cycles is coming up with a business model: the way your endeavor will make the profits that feed your family. For example, the business model of McDonald’s is to make consistent, quick hamburgers.

As a writer, your basic business model is to write words and get paid. You’ll need greater focus, though, if you want to structure your freelance business for success.

Freelance writing has hundreds of potential business models, especially in the new pulp era of internet publishing. A few business models that have made me money include:

• Blogging for advertising income
• Writing travel guidebooks for traditional publishers
• Writing articles for hobby magazines
• Ghost-blogging for financial services
• Producing online content articles
• Creating business documentation
• Reviewing travel destinations, books and restaurants

These specific writing assignments lie at the intersections of my expertise and powerful market demand — and thus get me the regular and lucrative assignments I need. In 2012, I hope to add some other business models, including a podcast, audiobooks, young adult fiction, nonfiction books, national magazines and travel writing.

If you’re a working writer, what are your business models? I’d love to see some in comments. Next time, we’ll talk about two other important parts of your business model: strong definitions and diversification.

Thanks for listening.