Before I get started with this post, let me define what I consider to be a freelance writing budget. This is the amount of money that you can comfortably spend on items that you need to sustain and/or advance your freelance writing career. Now that this is cleared up, we can move onto why it is so important to have a budget.
First things first, a budget helps to ensure that you do not spend on things you don’t need. Everybody loves new office equipment. There is nothing better than buying the latest and greatest computer, printer, fax, etc. But guess what? You probably don’t have money in your freelance writing budget to do this every few months. Don’t buy a computer (or anything else) just to do it. Instead, save your money now so you have it when the time finally comes to make a purchase.
Moving on, you don’t want to put all your profits back into the business. There is nothing wrong with spending money to make money – I strongly believe in doing this. That being said, you need to save some of your income as well. After all, you have bills to pay, expenses to save for, etc.
Finally, a freelance writing budget will make you feel as if you are in more control of your business. This is definitely a great feeling. When you know of every dollar that is coming in and out of your business you will be confident in all financial related decisions.
Do you have a freelance writing budget? If so, how has it worked out for you in the past? This is one area of being a freelancer that many people forget about. Any feedback would be greatly appreciated!
When you pickup a new freelance writing client one of the first things you will discuss, in addition to project details, is payment. Not only will you talk about how much you charge, but also about how you want to get paid. All of these details are negotiable, and you should be doing what you can to get the best deal possible. That being said, you need to know where to draw the line. In other words, there is a fine line between negotiating and becoming a pain in the neck.
Once a client explains the project to you, you should be able to get back to them soon enough with a quote. Obviously, you want to base this on your standard rate. But feel free to stray away from this if the job calls for it. Remember, no two projects are the same.
The negotiation process usually comes into play when the client does not want to pay your standard rate. While there is nothing wrong with opening the lines of communication, you need to realize that there comes a point when the job is no longer worth it. Take for instance a freelance writer who charges $1k for a 750 word sales letter. This is a solid price, but maybe the client only wants to pay $500. Are you willing to work at this lower rate? Would meeting in the middle at $750 be fair to both parties?
It can take a while to become proficient in the art of negotiation. In fact, this is something that I am still learning. All you can do is try to get the best deal for yourself while being as fair as possible to your new client.
If a client is not interested in working with you at your standard rate you need to do some negotiating. The same holds true if they low ball you from the get-go. Some negotiations will lead to both parties being happy. Others will shut down the job before it ever gets off the ground. As a freelance writer you should be ready to negotiate here and there. This is part of your job.
When I got my start as a freelance writer I thought I had one job and one job only: to produce high quality content. While this is very true, you need to consider that other things can and will come up from time to time. You may be surprised at how much you have to do for clients, outside of producing content.
Don’t get me wrong, writing is your main job and you should learn how to do it well. But as you begin to grow your business you will find that clients want more from you. While this may sound scary, it actually works out in the long run because it gives you the chance to earn extra money.
So, what other “tasks†may I be asked to take on? More and more of my clients are asking for help marketing their content – this is especially true among those who are posting online. While it is not something I specialize in, I have picked up some skills over the years. Do not be surprised if your web based clients ask for help in this area.
Other clients want basic advice on what type of content is best, how often they need fresh content, etc. With this, you become a “writing consultant†of sorts. In addition to producing content you are also in the business of advising clients on what they should and should not be doing.
Of course, what you do as a freelance writer comes down to your comfort level. If you don’t want to help with marketing, for example, you have the right to say no. I have found it is best to help when possible, but to also let clients know that I do not specialize in other areas. This helps to keep expectations realistic.
Your job as a freelance writer will change from client to client. Do you help with any tasks outside of content creation?
