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4 Areas to Assess to Almost Immediately Start Earning More as a Freelance Writer

There’s no better time like the end/beginning of the year to take stock of your freelance writing business. And by this I mean doing things like assessing where you can improve. To this end, four areas you can immediately assess are discussed here.

And, although the beginning and/or end of the year are times when many freelancers turn their attention to this type of business assessment, any time is a good time to put these insights to use.

Freelance Writers: When Was the Last Time You Checked These 4 Things?

Adjust your freelance writing rates: Is it time to raise them? When was the last time you did this? Are they on par with what others in your niche are charging?

Evaluate your marketing strategy: First off – do you have one that you adhere to regularly? What dividends did it pay over the last 12 months? Were you happy with the results? Could you have done more/less – and gotten better results?

Add to your service offerings: Are clients asking for services you’re not providing? Could you bundle Service A (eg, SEO writing) with Service B (social media account management) and land more writing jobs? Are others in your niche offering a lot more services than you? Do you think it’s hurting your business?

Upgrading/expanding your skill set: Similar to the point just above, learning a new skill as a freelance writer can exponentially increase your freelance writing income. Proof?

In the post, Four years of freelancing: 20 things I learned the hard way, Yael Grauer, who just completed her fourth year as a full-time freelance writer wrote:

I started freelancing by doing writing, editing and SEO work. . . . Now I’m learning how to code. The more you can offer (within reason), the better.

On the flip side, are you offering services that no one is asking for often enough for it to be worth your time? Are there services you offer that you hate — hate to the point where you procrastinate, groan when you get an order, or have to literally force yourself to do?

Cut these. Not only are they causing you unnecessary angst and stress, they’re costing you in time. And when you freelance, remember, time is money.

Hire help: Do you find yourself running out of time and never finishing what’s on your daily list? Do you feel like your business is growing because you can never find time to do X (never mind Y or Z)? It might be time to finally break down and outsource some of your daily duties.

2 Reasons Freelance Writers Fail to Earn More Every Year

The main thing to keep in mind – in my opinion – when you’re doing this kind of assessment on your freelance writing business is that each year you should strive to work smarter — not harder – to earn more. In my opinion, there are two reasons many freelance writers don’t do this, and it stagnates their income.

(i) They don’t adhere to a consistent marketing routine. Most freelancers market only when they’re not busy. This leads to dry spells and taking on “desperation writing jobs” (ie, those low-paying, slave wage-like writing gigs). When you marketing like this, it’s like starting your business all over again — all the time. Why? Because it gets to be a vicious cycle.

You land a gig or two, stop marketing because you don’t have time (note – you should always MAKE time for marketing), then start marketing again because there’s no work. Don’t do this. Market consistently. Do something every day preferably to reach out to new (and old) prospects. Make it a habit to get it out of the way first thing in the morning. That way, no matter what comes up during the rest of the day, your main task – marketing— is done.

(ii) They don’t recognize when it’s time to hire help. This can be scary because bringing someone else into your freelance writing business requires a big time commitment, not to mention the financial obligation it brings. But trust me, it’s one of the best things you can do to grow your freelance writing business.

Want to Earn More as a Freelance Writer? Start with These 5 Things

In this post, I outline five things, in detail, you can do to increase your income.

Bonus Tip

Adjust your payment schedule: Offering clients a discount to pay faster can help increase cash flow, which means you stress less, and spend less time chasing payments. And when you freelance, time is money, right? To automate this, put clients on a monthly or bi-monthly* payment schedule.

*Bi-monthly: Did you know that it can mean either twice a month or once every two months? This always confused me, so I looked it up and found a very interesting discussion on the definition of bi-monthly over on Daily Writing Tips. The comments offer a wealth of additional insight.

Just FYI as a wordsmith, ya know! 🙂

What Will You Do to Increase Your Income Next Year?

Is there anything you’d add to this list? What do you plan on doing to increase your freelance writing income next year? Will you tweak an existing marketing plan, add new services, finally hire that VA? Please share in the comments section below.

cover-lgP.S.: Take your freelance writing business to the next level by learning how to effectively outsource.

This is the quickest easiest way to earn more without working more (ie, work smarter, not harder!).

P.P.S.: Get SEO copywriter training class and learn how to start a high-paying career as a freelance SEO writer.

Incentive? Here’s an SEO writer who signed a $24,000 contract!

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