Starting a freelance writing business is easy. It’s something anyone can do. The problem is most freelancers will start with a few clients only to discover they’re out of business within a couple of months. The cash flow has dried up and they’re faced with quitting and getting a job in the outside world again.
Build a strong foundation within your freelance writing business by following this guide.
1. Get Your Finances in Order
Financial strife is the number one reason why so many writers quit the industry. You should know how much you need per month to survive. From your first month you should aim to earn more than this. Anything left over should go into a fund that can help you cope if you have a dry month.
There’s nothing wrong with falling short every so often. Most freelancers have a couple of months every year where profits drop drastically. This is the nature of the game. But they survive because they’ve saved money from their good months.
2. Have More Work
Too many freelancers make the mistake of not pushing themselves. They’ll take on enough work to fill a normal working day and nothing else. But what happens if a client drops out for whatever reason? That’s right they find themselves in a situation where they’re twiddling their thumbs wondering where the replacement is.
It’s always better to have more work than you can handle. Aim to pick up an extra client, even if it means working an extra hour per day. When the famine cycle does kick in, you’ll have no problems dropping down to normal work hours again.
3. Always Market
Don’t get content with your position. Once you have enough work to get on with, you shouldn’t stop marketing yourself. It doesn’t matter if you don’t have much space to add in new clients. You should continue to market yourself to the wider public. It’s so difficult to build up a successful marketing campaign. It takes time.
You can’t afford to take a month or two off only to come back and start marketing again when you need to. It doesn’t work that way. For every day you’re absent from marketing you’re potentially missing out on a golden opportunity to build up your income and ascend to new heights. Dedicate at least an hour a day exclusively to marketing.
4. Keep Building
When we get content we see no reason to rock the boat. And that’s a form of hubris. Rocking the boat is how we continue to get better at what we do. You should always look to advance your business. Every six months to a year you should think about raising your rates and taking on more lucrative clients. This is how you can build your income faster, whilst continuing to challenge yourself.
It’s a Full-Time Trade
Freelancing is like no other industry. It’s not like a normal job where you can afford to sit back and do the same thing day in and day out for years. If you do this, your competitors will pass you by and you’ll never get better. We thrive when we’re placed under pressure by new challenges. The only way you can reach this point is by building a strong business.
That strong business will act as both a launching pad for greater things and a form of protection against periods of economic strife. A strong business will keep you in business and enable you to continue to do what you enjoy. If you ever reach a point of contentment, give yourself a kick in the pants before it starts to set in.