Why Growth is Essential for a Freelance Writer and How to Maintain It

by WorkFromHome on December 30, 2011

Growth is necessary in all business ventures, but it’s especially important as a freelance writer. If you don’t have any growth as a writer, then you will eventually find yourself having no work at all. Clients in this business will not want your services indefinitely. Even the people or businesses that you write for on a regular basis will eventually stop wanting or needing your services. Even if you maintain the exact same clients for a long period of time, if you aren’t able to increase your rates at some point, then inflation will lead to a situation where you are essentially making less and less money as time goes on. With all of this in mind, we want to show you how to achieve growth as a freelance writer. If you work from home as a writer, then this is your chance to get some real job security.

Developing Writing as a Skill

One type of growth that you should be actively seeking out is an increased level of skill as a writer. By working on your grammar and studying appropriate books on style, you’ll be able to boost your writing ability with just a couple of hours of work each week. As you become a better writer, you’ll naturally be able to charge potential clients more money per word since you will be offering an end product that is of a higher quality. Improving yourself in this way opens up opportunities and gives you more flexibility when it comes to choosing what type of writing is correct for any given job.

Building Your Client List

A basic way to increase your profits is to simply get more clients that you write for. While this is true for everyone who works from home by providing a service, having a larger list of clients as a freelance writer is especially important to long-term growth. When you have more people that are willing to pay you for your services, you’ll have fewer periods of time where you have no work available. An additional benefit of having more clients is that you’re able to network and make important connections when you know more people in the industries you write about.

When to Raise Your Prices

Raising your prices will increase the amount you make per job while generally lowering the number of individual jobs you receive. The jobs that you lose out on after raising your prices will generally be writing assignments from clients that are of a lower than average quality. What’s great about strategically increasing your prices is that it creates a situation where you can make the same amount of money as you were previously while doing less actual work. This frees up your time to secure new assignments and grow your freelance writing business. Overall, the idea here is to get new clients that are of a higher quality while dropping the lowest quality clients that pay you the least.

Working on Your Brand

Building a brand around an identity and a website will help you to pull in higher quality clients. Your brand could be your real name, a website, an Internet handle or a combination of these things. While some businesses look to build a brand for the sake of visual recognition, freelance writers should look to build a brand for different reasons. When you put time and effort into crafting an excellent reputation, you don’t want it to go to waste. To this end, potential clients will know that you are putting your reputation on the line over and over again and that you don’t want to let anyone down. Potential clients will trust you more and be willing to pay you more if you have built a solid reputation using your brand.

Exit Strategy as a Freelance Writer

Building an exit strategy based around accumulating more passive income and less active income is an end goal that many career freelance writers will look for. One way to achieve this is to look for writing deals that allow you to get royalties for your work instead of a single flat fee. Since you’ll be paid regularly for months or years to come from this type of work, it’s one good way for a freelance writer to build passive income.

Aside from this, you can also get into managing other writers and acting as an editor of your own writing team. This will allow you to build on a brand that already exists and achieve growth on a larger scale than you can do by only writing yourself. If your team grows to be too big for you to handle, then you can hire someone to manage a portion of the talent and act as an additional editor. In this way, you can keep up your growth for as long as you like without having to worry about having too much work for a single person to do.

Related Articles:

Previous post:

Next post: