High Profit Freelance Writing
Let me introduce you to what I like to call “high profit freelance writing.†Have you ever heard this phrase used before? My definition of this is not hard to understand. Generally speaking, high profit freelance writing for me is all about finding jobs that equate to an acceptable hourly wage. Let me explain in more detail…
I know some freelance writers who like to charge clients on an hourly rate; this has never been my style. In my opinion, having an hourly rate causes more problems than good. When a client touches base with me, I collect all the details of the project and then give them a per project price. But when I am doing this, I actually have an hourly rate in mind that I am hoping to earn.
For example, a mid-sized business recently contacted me for a quote on a 500 word sales letter. While I could have given them a fee within a matter of seconds, I instead took the time to gather details to make sure that the job would fit into the high profit category. After receiving these details, I came to the conclusion that the project would take approximately two hours to complete. Since I usually charge between $100 and $200 for this type of project, it was obvious from the get-go that I was going to make a lot of money on the deal. By charging $100 for the project, my rate would have worked out to $50/hour; charging $200 would have been $100/hour. Both of which are more than acceptable by my standards of high profit freelance writing. I offered to do the job for $150, and the client quickly accepted. In the end, it took me about two hours to complete the job; just what I had estimated.
Of course, not all of my freelance writing projects are this profitable. But fortunately, some of them are. When deciding whether or not to accept a job, you need to consider this high profit theory. I never accept or turn down a job until I write down a project cost estimate, time of completion estimate, and then work out the hourly rate. After doing this, it becomes much clearer as to whether or not I should move forward with the project.
If you can regularly accept projects that work out to an acceptable hourly wage, it is safe to say that you will make a solid freelance writing income from day one.
