Why is my freelance writing income stagnant? A lot of freelance writers are interested in the answer to this question. Some have an idea of why they are not making any progress, and others feel that they are simply getting the raw end of the deal. No matter what, there is probably a reason that your income is not growing as much as you would like.
When I look at my income, I can see where there is room for improvement and what I need to do in order to take advantage of these areas. Through my experiences, I have found that there are three common mistakes that hold the majority of writers back from earning more.
1. Your rates are too low. This is the most common and well known reason for not being able to increase your freelance writing income. That being said, increasing prices is not an exact science. In other words, you should not decide to increase your rate from $.05/word to $.50/word overnight, for instance. If you do, your current clients are going to question this and you may find it more difficult to locate new work.
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If you believe that there is room for you to increase your rates, you should do so by all means. But of course, you need to move forward slowly. For example, you could bump up your rates by $.05/word for new clients while keeping things the same for existing clients until 2009. This will allow you to increase income with all new work while also keeping current clients happy.
2. Are you content with your income? If so, you may not have the drive or desire to seek out more money. There is nothing wrong with being happy with the amount of money that you are pulling in. If you are comfortable with your income and corresponding workload, you may not want to do anything to rock the boat. But of course, I have not met too many freelance writers who do not want to earn more if possible.
This is not to say that you should be money hungry. But if you can increase your income in a smart and effective manner, you might as well do so. After all, more money is always better!
3. Wasting time is one sure fire way to find your freelance writing income staying the same. Are you putting in eight hours per day? If so, you are doing a lot of work and should be happy with your output. But if you are slacking off from time to time and not really chasing your income goals, you are going to find yourself in a tough spot. The bottom line is that you need to make the most of your time. If you work hard for six to eight hours per day, five days per week, you should be happy with your output.
Are you a victim of one of the three common mistakes above? If so, you are lucky. All of them are easy to overcome. And when you do, there is a good chance that you will see an increase in your income.
I am sure a lot of you get tired of me talking about marketing your services. But when it comes down to it, if you are going to succeed as a freelance writer you must also be good in the marketing department. If you do not have a good marketing plan to follow and fall back on, you are going to struggle from time to time. Remember, once you find what works you will have an easier time as your career moves forward.
Here are three ways to beef up your marketing plan without spending too much time or money:
1. Make a list of clients that you want to work for. They can be big companies, small magazines, or anything in between. Once you have your list in place, do whatever it takes to get in touch with the person in charge of hiring freelancers. This may mean a cold call, or quite possibly a query letter. Do not stop until you talk with the right person, and establish the next step in the process.
2. Get over your fear of the marketing process. Yes, it can be scary to market and sell your services; you are not alone. But I am not lying when I say that it will get easier once you become more experienced. For instance, your first cold call will be terrifying. But your 100th call is sure to go much more smoothly.
3. Use your website and/or blog to your advantage. If you do not like marketing, why not look for ways to bring clients to you? While I get a couple of inquiries per week through this blog, my other sites do even better. You do not have to spend thousands of dollars on your site. Anything that is clean, to the point, and full of information will help to put you on the right track.
With the three tips above, you will be able to take your marketing plan from ordinary to extraordinary. It may take time, but in the end you will be happy with the results that you receive!Â
To me, it is funny to hear so many people say that the majority of freelance writers live off of cheap food and borrowed money. I can’t remember how many times somebody has asked me how I make a living as a freelance writer, and whether or not this is a sustainable career. All of this leads me to the question of whether or not beginning freelance writers should be frugal? While I do not want to turn this into a personal finance post, it is definitely something to consider if you have recently moved into writing as your full-time career.
First things first, you need to know where you stand financially. It is much easier for some people to become a full-time freelance writer because they have the support of a spouse, money saved in the bank, or in many cases, both. Once you know how much money you have and what you will need in the future as you start your career, you can then determine just how frugal you have to be.
That being said, freelance writers must also spend money to make money. Luckily, this is not nearly as bad for writers as it is for other entrepreneurs. What will you need to spend money on as a beginning freelance writer? A short list of possibilities include: computer, printer, desk, office supplies, reference books, internet connection, website design, website hosting, and service site fees (bidding sites, etc.) among others. If you are lucky, you will already have some of these items at your disposal.
There is nothing wrong with being frugal when you start your freelance writing career. After all, you are now working for yourself and a steady paycheck is no guarantee. Just make sure that you do not tighten your wallet so much that you miss out on the essential items needed to get off on the right foot.Â
