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How to Increase Freelance Writing Profits

No matter what line of business you are in, increasing profits is something that should be of interest to you. When it comes to the freelance writing industry, there are quite a few ways that you can increase your profits. Believe it or not, you have more options than simply increasing your rates; even though this is something to consider (as you will see below).

Listed below are three of the best ways to increase freelance writing profits. If you can implement any of these into your business, it is safe to say that your monthly freelance writing income will begin to increase.

1. Churn out more work. The faster you write the more work you will be able to take on. And when you take on more work, it only makes sense that this will result in increased profits. If you are going to exercise this option, make sure that you keep quality in mind at the same time. Yes, writing faster can increase profits, but if you are not turning in high quality work you are going to lose clients.

2. Charge more money per project or per hour. This may sound easy enough, but increasing your rates can be tricky to say the least. When doing this, you need to keep a few things in mind.

First off, make sure that you do not increase your rates to astronomical heights. If you do this, you are going to price yourself out of the industry. As a general rule of thumb, be careful that you do not increase your rates more than 15 percent at a time. Of course, you know better than anybody else what your clientele is willing to pay.

Additionally, you should be prepared for clients to ask why your rates increased. You should have a prepared answer such as “I always increase rates at the beginning of a new year.” Even though it may not seem fair to you, clients are always going to ask why your rates increased, and whether or not you can cut them a break.

3. Look into other ways that you can make money as a freelance writer. As of late, the most common option is starting a blog. There are a couple of ways that a blog can help you to earn more money. First off, the blog itself can produce income through the sale of private ads, Google AdSense, etc. To go along with this, you may be able to use your blog as a way of finding new clients. This year alone, my blog has brought in clients who I have billed for more than $3,000. As my readership continues to grow, I am hoping that this trend continues.

These tips should allow you to increase your freelance writing profits. Remember, minor changes can go a long way in helping you to earn more money.

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2 Comments »Freelance WritingMay 15th, 2008

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