Freelance Writing|Freelance Writer

A Bank and PayPal Account for New Freelance Writers

So you want to become a freelance writer? Before you get too excited and start marketing your services it is essential that you setup both a bank and PayPal account. This may not be something you think about early on because you have yet to make any money. But you expect to do so soon enough, right? By setting up these accounts before doing anything else you will be off to a good start.

Why do I need a separate bank account? Many new freelance writers ask me time after time if they can use their personal checking account for their business. While this is possible in theory it is not something you want to do. Instead, it would be in your best interest to open a business checking account with the same bank. This will only take a few minutes, and in the long run it offers many benefits.

The main reason to open a business account is to keep your personal and business money separate. You should use your business account for depositing checks and PayPal money, as well as when paying expenses. Of course, you should feel free to “pay yourself” from this account when necessary.

You will also realize early on that a dedicated business account makes it much easier to stay organized. There is nothing worse than being disorganized as a freelance writer and this definitely holds true when it comes to your income. With separate accounts you will find it easy to track your income, pay taxes and expenses, etc.

As I have said many times in the past, PayPal is one of the best ways for freelance writers to collect from clients. While you will be hit with fees with most payments this is not something you should worry about. Instead, chalk this up as part of doing business. A PayPal account allows you to get paid quickly and efficiently without having to worry about collecting checks. To go along with this, you can link your PayPal account to your business checking account for easy transfers. At the end of every month I withdrawal all of my PayPal funds to my business account; it only takes a few days to complete a transfer.

Beginning freelance writers should definitely setup a dedicated bank account, as well as a PayPal account. This may not be as fun as finding new clients and taking on projects, but it is something you must do if you want your career to grow in the right direction. All in all, it is better to get these accounts setup sooner rather than later. 

Freelance Writing Income Goals: How did your 2008 Shape up?

As you know, I am a big believer in setting goals. Goals can help you reach new heights, and eventually become a success no matter what dream you are chasing. As a freelance writer, it is safe to say that many of your goals should be based around your income. At the end of every year I take a close look at my income, and of course, I compare it to the goals that I set.

Fortunately, I met and exceeded all of my income goals this year. This means one of two things: I either had a great year or I did not set my sights high enough. I think it is a little bit of both. Even though my 2008 income goals were much higher than they were in 2007, looking back I may have been able to push myself even further. That being said, I am ecstatic that I exceeded my goals.

If you did not reach your income goals this year don’t get down on yourself. Every so often I come up short on some of my goals, and this holds true with every freelance writer. Instead of beating yourself up you should assess why you missed your goals, and then use this information when setting new ones. Remember, you want to push yourself to reach new heights but don’t go overboard by setting goals that you have no chance of achieving.

Now is the time to look over your income stats from 2008 so you can begin to set goals for the new year. Although this year has not yet come to an end, you need plenty of time to review the past 12 months and to prepare for the challenges that are awaiting you in 2009. 

How Companies Find Freelance Writers

As a freelance writer you know how important it is to market your services at all times. By understanding how companies find freelance writers you should be able to properly position yourself for marketing success. As you can imagine, not every company searches for freelancers the same way. That being said there are a few ways you should be aware of:

1. Online ads. Some companies will place an online ad searching for freelance writers. Sites such as freelancewriting.com, Craigslist, and ProBlogger feature many of these ads, and in turn attract freelance writers who are searching for work. Through my experience you can find clients through online ads, but many of the bigger companies do not work this way.

2. Referrals. Some of my biggest clients have found me through other clients. For instance, a few months back a travel industry client passed my name along to several of their clients. In turn, I picked up a few projects that I was not expecting. For more information on gaining clients through referrals check out my post “Increase your Workload, Ask Clients to pass your name around.”

3. Search online. Believe it or not, many of my clients found me through the search engines. This is one of the quickest ways for a company to begin their search for a freelance writer. Although I have several sites that bring in new clients, this blog is the frontrunner thanks to its reach and above average search engine rankings.

Of course, this is not the end all. Every company has its own way of finding freelancers, whether they are searching for writers, web designers, etc. By being aware of how companies search for freelance writers you should be able to better position yourself when searching for gigs and marketing your services.