Maybe you love music, but you cannot sing or play any instruments. Maybe you like writing and know how to put words and emotion on paper. Start writing songs and lyrics!
First of all, learn as much as you can about writing songs and lyrics. Being a good writer is everything. Producing high quality work,
which is up to the current fashion and will be liked by any audience, is important. Otherwise, you can forget making money by writing songs and lyrics. Be realistic, you cannot just write anything. Become a student of lyrics from all genres. This will broaden your knowledge.
Keep pen and paper with you at all times. Perhaps when sitting in the bus you get inspiration and start writing. It would be a waste if you forget the song that would have made you money.
Also ask for feedback from the people around you. Use their criticism to get better. You will not get better without anyone helping you!
Now the process of making money commences! Chose some of your best songs and use these as a portfolio. You need to have material you think is awesome, otherwise wait and keep on writing.
You should collaborate with musicians to make demos of your songs. This makes is more tangible and increases the possibility of convincing an agent or manager that your lyrics are great. The recordings of your songs should be of a reasonable quality. Spend time on finding the right artist and studio to record your songs.
If you have some finished demos, you think are great and up to the task of making money, then send the demos to music publishing companies, record companies of important individuals from the music industry.
You can find contact details of publishing companies online. Try to find as many as possible. Another way is to enter songwriting contests. There are a lot of these contests and you may even win money and open doors in the music industry. That is what it you need. You need contacts!
If you made song then it normally has copyright ownership. Nevertheless, you should make this formally and register it to ensure copyright protection.
Making money with songs and lyrics takes a lot of effort. You need to practice and send songs to anyone. Networking is very important, try to open doors in the music industry. Also, record high quality demos with good artists. It is easier you determine the quality of lyrics when it is actually on a demo. If you really like writing songs and lyrics, but you only get turned down, continue nonetheless!