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 this like assessing where you can improve by doing things like these listed here.
Areas to Assess to Earn More as a Freelance Writer Next Year
Looking at your freelance writing rates: Is it time to raise them? When was the last time you raised them? Are they on par with what others in your niche are charging?
Evaluating 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?
Adding 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.
Hiring 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 Increase Their Income 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. In a post in the not too distant future, I’ll give some insight on what to expect when you hire help.
Want to Earn More as a Freelance Writer in 2014: Start with These 5 Things
In my regular bi-monthly* post over on e-Junkie, I outlined five things freelance SEO writers should do to increase their income next year. But, these tips apply to all freelance writers.
*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 in 2014?
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.