Tips on Setting up a Business Writing from Home
Freelance Writing Opportunities Abound for the Organised Writer
Nov 11, 2009
There are many ways a writer can earn a living, and many of these fit the work-from-home model that so many people desire. However, there's also potential for disappointment and failure for writers who don't do their homework. Start by deciding whether it's a viable option to write for money, and if the answer is 'yes', follow these four steps to ensure that the new writing business is built on a solid foundation.
1. Have a Financial Buffer Before Investigating Freelance Writing Jobs
The pressure to make money quickly is not only tremendously stressful, but also can lead to poor decisions made from desperation. When 'survival money' needs to appear within days, writers will often snatch at anything simply to get the money in. The best approach is to have enough money set aside to cover expenses for at least a month, and preferably two or three months. This will allow a writer to take the time to build up an income stream.
2. Research Jobs for Writers Carefully, Then Focus on Two or Three
A writer can wear many different hats. The temptation for a writer in the early stages of setting up a home business is to have a go at everything. The best approach is to make a note of all opportunities that seem interesting, then choose two or three income streams for the initial focus. A good mix is to choose one writing opportunity that will yield a quick cash flow (for example, writing for clients at Guru.com), and another that will build steady residual income (for example, writing articles for a site that shares revenue from Adsense on an ongoing basis).
3. Treat a Home-Based Business as Seriously as Any Other Business
While it is nice to have the freedom to meet friends for coffee or take the kids to the park at any time, a genuine work from home business deserves a serious investment of time. A good rule of thumb for writers is to look upon themselves as an employee of the business. (An employee in any other business who turned up to work for only four hours out of eight would soon be fired!)
Divide the hours available so that some are spent in research and planning (bidding for jobs, researching keywords for articles, exploring relevant writing opportunities, finding related images and clipart) and the rest of the time is spent on actual writing projects. By all means take advantage of the flexibility of working from home: take two hours off in the afternoon if it works better to put in that two hours at night, or before breakfast.
4. The Writing From Home "Sandwich" – Writing, Self-Promotion and Finances
Some writers get so caught up in researching opportunities and doing the writing jobs that result that they neglect two essentials: self-promotion and looking after the business finances. Think of a home-based writing business as being a bit like a sandwich. The filling is the actual writing done. The two slices of bread that keep it all together consist of self-promotion (how will clients know about the writer?) and finances (how will the writer get paid, send invoices, and pay taxes?)
Self-promotion may involve participating in forums, Facebook and Twitter pages or contributing articles or interviews to Internet sites. Taking responsibility for finances could involve learning how to keep financial records and set money aside for taxes, as well as setting up invoice templates and/or a PayPal account.
Writers who are serious about setting up a viable writing business will find that it really is possible to earn a reasonable living. Most writers focus on one main income stream with a couple of smaller streams, while some decide to specialise in one area (for example, copywriting, proofreading or ghostwriting). The ones who succeed are those who set about building a solid foundation, then let their writing income build over time.
 |
 |
 |
 |
 |
