2015 ജനുവരി 24, ശനിയാഴ്‌ച

new way make money with your writing

                                
few people get rich writing. Yet once you become a writer, or think of yourself as one, it’s hard to stop. Like a dog with an itch, you’ve got to get to it — regardless of the uncomfortable contortions required and how momentary the relief between itches/stories.
Technology makes it seem easy to become a writer. Just as desktop publishing lured us into imagining we were graphic designers in the 90s, things like blogging and social media convince everyone with a keyboard and the internet they’re Hunter S Thompson. But digital technology has also made things tough for writers, particularly those whose incomes depend on every word they write.
With ever more readers accessing information from multiple online platforms for free, publishers have had to cut rates, word counts and contributors. It sometimes seems the quest for a sustainable business model for digital journalism is like the quest for the Holy Grail — a myth. But is it?
Funded by prize money won in the Google-International Press Institute News Innovation Contest and incubated by the Guardian Media Group, Sarah Hartley, Matt McAlister and Dan Catt launched the online journalism community, Contributoria, a year ago. The initiative is something of an online anthology-stokvel combo.
It invites writers (2 500 at present) to pitch stories, name their price (in points), get backing from other members, benefit from the editing recommendations of others during the writing process (while retaining individual copyright) and get paid within 30 days. Contributoria also helps facilitate sales of the work to other publications.
Although writers can join for free, paying R40 per month to be a "supporter" or R105 per month as a "patron" not only provides advanced benefits, it also helps boost the coffers from which writers are paid. Free membership gives you access to 50 points per month, while paid subscription options give you 250 and 500 points a month respectively. (Patrons also get printed editions of Contributoria.)
Points are an internal currency, which fluctuates according to how much money there is in the membership pool and other resources, including sponsorship. During its first year, 727 proposals were submitted to Contributoria, 344 articles were published and more than R2.5-million was paid out to writers. Fees ranged from R1 150 to R11 500 per article.
                          
Described by its founders as "community funded collaborative journalism", the site works as follows. Members submit proposals for stories for which they set a fee/goal in points. Other members use their monthly allocation of points to back the proposals they like. If the goal is achieved before deadline, the writer is commissioned to complete the story during the next "collaborative month". At this stage, drafts of commissioned work are visible to other members who can contribute editing suggestions.
Once complete on deadline (cycles are monthly), the article is published, becoming visible to all. The writer receives payment from Contributoria according to the original points value set as a backing goal/ fee.
The site makes articles (now edited and, in a sense, peer reviewed) available for re-use by other publishers, charging writers a small commission for the service.
Contributoria is valuable not only because it provides writers with another place to generate income and show off their work, but also because of what it teaches in terms of the business of writing. Generating an income from writing means identifying topics that intrigue and sell. Many successful freelance writers are also consummate salespeople.
Contributoria also demands unabashed self-marketing; you need to campaign to get the points before your story is commissioned. Once you begin writing, collaboration with others gives you the opportunity to learn and improve.
Above all, Contributoria demonstrates the hard work required by journalism. If you or someone you know is thinking about becoming a writer, take a look at the extent and depth of the articles published and proposals awaiting backing on the site. Writing, you’ll see, is an itch that requires more than a cursory scratch, technology notwithstanding.
                                   

Building wealth in 2015

                                    
The Indian stock market turned out to be among the world's best performers in 2014 with the Bombay Stock Exchange (BSE) Sensex rising 29% from 21,140 on January 1 to 27,312 on December 19. Most market players believe this stellar run will continue in 2015 on the back of reforms, strong foreign fund inflows, revival of manufacturing, improvement in the macro-economic situation and rise in corporate earnings growth.
Attractive Valuations
Despite the sharp rise, the valuation of the Indian stock market is still attractive. On December 12, the Sensex was trading at a price-to-earnings (PE) ratio of 18.5, marginally lower than the five-year average of 18.77. Yogesh Nagaonkar, vice-president, Institutional Equities, Bonanza Portfolio, says Indian stocks are an attractive investment if the person's horizon is three-five years. One reason is that the return on equity of BSE 200 companies is bottoming out. "Revival of growth of Indian companies, which were facing tough times for the past five years, is still at a nascent stage. Nifty 50 companies can see 16-17% earnings growth in the next one year. This may rise to 19-20% two years from now," he says.
"Indian companies have done massive restructuring over the last five years. Almost every business has become leaner and focused on efficiency. Because we don't expect further deterioration, we see operating and financial leveraging show its maximum impact in 2017-18," says Ravi Gopalakrishnan, head of equities, Canara Robeco Mutual Fund. If we look at the numbers, India's stock markets have risen quite a bit of late, but even then they are not very expensive. At present, they are trading at 17 times forward earnings for 2015-16. Though this is slightly above the long-term average of 15 times, it is not very high. Gopalakrishnan explains why. "Earnings pick-up in 2017-18 will trigger expansion of PE multiples," he says. 
                                       
New Themes
In every bull market, a new set of stocks performs well and comes on top. For example, around 2000, information technology (IT) stocks were everyone's favourite. Between 1 February 1999 and 13 December 2000, the IT index rose 94% on a yearly basis, as against 15% returns given by the Sensex. This period was followed by the era of infrastructure stocks in 2004-08. To see how much liking markets took to these shares, look at returns from DSPBR TIGER fund, an infrastructure fund from the DSPBR stable. Between 11 June 2004 and 9 January 2008, the fund returned 65%; the stock market returned 50% during the period. While in 2007-08 FMCG stocks did worse than the market, they were the darling of investors for the next five years (See The Best And The Worst). "The main constituents of the present rally will be different from what we have been seeing," says Vaibhav Sanghvi, managing director, Ambit Investment Advisors. He says Europe and Japan are not doing well and China is slowing. The US, he says, is the only big economy which is growing. In this backdrop, domestic industrial, material, consumer discretionary and financial companies are likely to do well, he says.