A lot of people in my world run their own business but the more people I meet the more I realize, not everyone is making money. So what does it take to run a profitable freelance writing business?
Not as much as you may think.
If you’re just getting into freelancing then you may be starry-eyed over the swanky tools and software you can invest in to “go pro.” But actually?
You can get started with a laptop and an Internet connection. Alright, maybe a couple other things…
- Something for email (like a free Google account perhaps?)
- And a program for documents (hey, Google Docs works, and it’s free!)
- Some way to invoice people (although, well wouldn’t you know, Google Sheets works just fine when you’re scrappy)
- A way to collect money (a free PayPal account works if you don’t mind the fees)
- A system for keeping track of what’s what (I recommend Trello for project management and/or digital to-do lists)
Alright, so those are business basics but there is always more you can do, without doing the most.
Here are five (more) steps to take in order to run a profitable freelance writing business
Step 1: Make it legal
If you’re going to be a professional, then let’s get started on the right foot. And by that I mean, register as a business. You don’t have to incorporate or anything at first—sole proprietorship should do just fine. You’ll also want to ensure that you’re complying with local regulations. For example, does your residence allow working from home? If not do you have a co-working space you can rent? Do you need a business license to operate? Etcetera.
Step 2: Save before you take the leap
I understand sometimes you’re forced to take the leap before you’re ready. Maybe you’ve lost your job, or a personal situation is causing you to open a business without much of a financial cushion. But if it’s at all possible, I recommend having a few months worth of savings stocked up to give you a bit of a runway when you’re just starting out. There aren’t a lot of start-up costs for running a freelance business, but it may take some time to find clients (and even if you start with one or two it doesn’t mean they’ll stick around forever).
Step 3: Set up systems to ensure quality
Working for yourself can be messy. And honestly, that works for a while. However, if you want to run a profitable freelance writing business then make sure to focus on the quality of your product. This is done through good work and high-quality writing, but also through how you communicate, the way you meet deadlines, and (of course!) the systems you use to make sure everything flows smoothly. You’d be amazed at how happy your clients will be when you pay attention to these “small” aspects of running a business.
Step 4: Create a dedicated space
Again, you can get started freelancing from your couch. Definitely. And freelancing allows you the flexibility to work from anywhere. To be sure. BUT! Having a dedicated workspace, the place you go when it’s time to focus and get ‘er done, allows you to take things to the next level. Maybe that means an ergometric workspace. Maybe that means a workbench, sticker maker, and available glue guns (hey, I don’t know what you need to be productive). Or maybe that means somewhere with a view—whatever you need to switch your brain into work mode.
Step 5: Build your brand
What do you want to be known for? Even if you’re more of a generalist, it’s still important to have some sort of brand as a freelancer. For example, what is style—beachy? Woodsy? Urban? And what do you want clients to think about when your name comes up? Professional? Friendly? Charismatic? All of this relates to brand, even if you’re not ready to niche into a specific industry (such as construction or B2B) or service (such as copywriting or white papers).
So there you have it! How to run a profitable freelance writing business. In theory, anyway. Let me know if you have additional tips!
