Secrets Of A Freelance Writer, Road To $100,000 a Year : Grow Your Business !

“We are not in the business of being original. We are in the business of reusing things that work.” ― Robert W. Bly,

Photo by Andrew Neel on Unsplash

This article is a follow up to our book summary of the book “Guide to Freelance Writing Success: How to Make $100,000 a Year As a Freelance Writer and Have the Time of Your Life Doing It” by Robert W. Bly. It’s a classic book that will explain to you from A to Z how to acquire a comfortable standard of living by carrying out a freelance writing activity!

With over 30 years of experience in the business, Robert W. Bly has a proven track record. As a U.S. copywriter specializing in marketing and business-to-business (B2B), he has had time to build a solid reputation and experience. He has even taught copywriting at New York University.

A. BUILDING YOUR FREELANCE WRITING BUSINESS

You may reach the point in your career where you are so busy you can’t or don’t want to take on more business.

The temptation is to stop marketing and selling your services. After all, marketing is costly and time-consuming. Why should you continue your sales efforts if you don’t need to make more sales?

You should not put a halt to your marketing program even when you are extremely busy because it could hurt you in the future. “I was so busy that I stopped selling myself,” said one woman at a luncheon meeting of freelancers in New York. “My current projects kept me busy for three months straight. But when I finally finished the work and looked up, I had nothing, not a single assignment or even a lead, because I had shut down my marketing program.”

You can reduce your marketing activities when you are extremely busy, but don’t stop them altogether. Remember, most writing assignments are over quickly. You need to cultivate contacts today so that you will have clients and hot prospects six months from now. As successful entrepreneur and best-selling author Harvey MacKay puts it, “Dig your well before you’re thirsty.”

1. GETTING INTO NEW MARKETS AND AREAS

Often, the freelance writer will start his career in a field close to the one he was doing as an employee. However, he may later seek to diversify his horizons of missions. How to go about it?

The best way is probably to go through advertising or marketing agencies, at least initially, because they have a wide enough range of clients to make you work in different specialties.

Word of mouth also works and can, little by little, take you out of your comfort zone. You may be asked to handle types of writing (magazine articles, for example) that you have never experienced before.

“The good thing about doing something new is that it is fun, exciting, interesting and challenging. In addition, it gives you experience and you can use these texts to sell yourself to get new assignments in these areas.” (Secrets of a Freelance Writer, p. 289)

Of course, it also takes more work time, because you’re not used to it. But it’s worth it. Try to balance your schedule between known things and new projects.

2. INCREASING YOUR PROFITS

There is no magic powder that will magically increase your earnings. Here are the main ways to do it highlighted by Robert W. Bly.

• Write faster: this comes with time and organization (sometimes also some technical devices).
• Increase your rates: this is not easy to do, but you can try it if you justify it and respect a certain limit.
• Enforce your copyrights (in an efficient way): you can sign a contract that guarantees you earnings for each use of your texts.
• Hire assistants: this can save you time for certain tasks and therefore make you work more on the important tasks that pay more.
• Create your own company: this is a step beyond the freelance life, so it’s up to you to see if you like to take on the responsibilities and tasks.
• Find additional profit centers: consulting, writing books, etc.

3. BURNOUT AND HOW TO AVOID IT

“In some ways, freelance writing is easier than other jobs: no boss, no commute, interesting work and you decide your own hours. At the same time, writing is very hard. Each assignment brings with it new ideas, new deadlines, new words to create from scratch. Unlike a teacher, who can teach the same lessons every year, the writer is always inventing something new. Now, that can be tiring.” — Robert W. Bly.

Here are some ways to save your time and your mind.

• Go on vacation;
• Reduce your workload;
• Take on a personal project;
• Have a richer social life;
• Add diversity to your tasks;
• Find a complementary source of income;
• Reduce work time (go part-time);
• Change career paths.

4. CLIENT CONFLICTS

The writer is a true “information collector”: in order to find new ideas for writing texts, he or she must constantly keep abreast of advances in his or her field, especially by reading magazines and other books.

More generally, freelance writers are curious about everything that goes on around them, and they also seek to learn by observation: by observing the ways in which people interact, they gain experience in business relationships.

The writer can also learn from the successful people around him. This shows them the way forward.

5. CONTINUING YOUR EDUCATION

“Every really good creative person in advertising whom I have ever known has always had two noticeable characteristics,” writes James Webb Young in his book, A Technique for Producing Ideas. “First, there was no subject under the sun in which he could not easily get interested. Second, he was an extensive browser in all sorts of fields of information.”

The same can be said of all writers who deal primarily with information. Everything you read, hear, see, or observe becomes grist for the mill and may end up in your next ad, letter, booklet, or article.

Become an “information collector.” Clip and save articles of interest. Collect booklets, pamphlets, reports, and brochures. Start a reference library and add to it whenever possible.

Become a student for life. Take courses and seminars; attend lectures. Read widely in books, magazines, business journals, and newspapers. Browse Web sites and join discussion forums on the Internet.

Become an observer. Pay attention to how people behave in business and social situations. Become interested in people. Ask them what they do, what they are interested in, what their life is like. You never know when a comment or fact will become a key point in a piece of copy you write. Never stop reading, listening, learning. Seek out people who are successful and learn from them.

Pick out the techniques that make them successful and adapt these techniques for your own use. Read books and articles by successful people you know and admire.

6. BE PERSISTENT … NEVER GIVE UP

The freelance writer should not look at the short term, but aim for the long term and be tenacious. Some days are fruitful, others not. Sometimes you create a lot of contacts to get, in the end, few clients. That’s just the way it is!

The important thing is to continue to build your network and earn a living, little by little. Perseverance is worth more than genius or talent: it is what will get you there.

Of course, you will be afraid — and therefore need courage — and you will make mistakes — and therefore need intelligence.

Even if you already have enough customers, don’t hesitate to keep prospecting. The more choices you have, the more you can choose the ones that interest you more or bring you more money.

B. BECOMING A MILLIONAIRE THROUGH WRITING, SAVING, AND INVESTING Parting Advice on Your Career as a Freelance Writer

Photo by Austin Distel on Unsplash

1. MANAGING YOUR MONEY

Unless you are wealthy or have a large income from sources other than your writing, I recommend that you try to save your money and build a nest egg. “You can’t get rich doing piecework, no matter how high your hourly rate,” a doctor in my town told me recently. “You have to invest to multiply the money you earn.”

Although current tax laws have taken away some of the advantages of SEP, IRA, and other retirement plans designed for self-employed individuals, they are still among the best investments you can make.

Remember, as a self-employed individual, you won’t be getting a nice pension from your company after twenty or thirty years of service — you have to create your own. Let your accountant or financial planner show you how much to invest in retirement funds and what type of plan is best.

In addition, a portion of your income should go into relatively safe investments: money markets, mutual funds, tax-free bonds, government notes, and whatever else your financial adviser recommends.

Your goal should be to build a nest egg of liquid investments, so if for any reason business were to slow down for a time, you could live comfortably off your savings. Having $50,000 or $150,000 or $250,000 in the bank can be a tremendous psychological boost for the freelancer. Instead of having to live entirely from hand to mouth, assignment to assignment, you can rest easier, knowing your investments can generate a portion of your income for you.

Never spend all your money as soon as you get it. Try to save 10 to 40 percent of fees paid to you by clients.

A home is a good investment for the freelancer, because a portion of your mortgage and other household expenses can be deducted as a business expense. This amount is directly proportional to the amount of space in your home you set aside as an office.

My father once told me, “Money is not important, as long as you’re happy.” But I disagree. Copywriter Ted Nicholas, writing in his “Direct Marketing Success Letter,” says, “The happiest possible life ideally rests on a balance between four elements: health, career, personal relationships, and money.” I share Ted’s view.

The most important piece of advice I can give to writers as far as investing and money is concerned is: Start early. In fact, start now. Don’t wait.

2. YOUR KEY TO FINANCIAL INDEPENDENCE: START SAVING NOW!

To reach the $100,000 (or euros) per year that the author promises, you can follow the advice given in the previous 16 chapters. You can do it: that is Robert W. Bly’s credo. If you want to make a million, then you’ll probably have to save and invest. Follow the advice of your bankers and insurers.

Try to keep between 10 and 40 percent of what you receive from your clients. Remember, you will have to pay taxes. Also, as a freelance contractor, you must insure your own pension. Start as soon as you can.

How can you do this? By investing in government bonds, shares, etc. But also by investing in real estate or taking out life insurance, for example. This is the author’s advice:

“Do not sacrifice your life for money. [But make the accumulation of wealth a priority in your life. (Secrets of a Freelance Writer, p. 311)

Three basic tips, borrowed by the author from Michael Masterson:

• Increase your income
• Develop equity, whether through real estate investments or businesses you own
• Reduce your expenses, so that your income always exceeds your expenses

3. PUTTING YOUR CAREER IN PERSPECTIVE

Here are Robert W. Bly’s latest recommendations for a successful freelance writing life. A sort of Prevert-like checklist to end on a high note!

• Do your best
• Keep your promises
• Meet deadlines
• Prioritize your tasks
• Help your clients
• Take care of yourself
• Focus on what the customer wants and give it to them
• Keep your files in order
• If you feel something is wrong or uncomfortable, get out
• Save and invest your money
• Enjoy time with your children while they are young and want you around
• Stay dedicated to your craft and your expertise
• Be a lifelong learner — about writing, business and the areas you write about
• Don’t be arrogant, be humble
• Learn to say no. Don’t overextend yourself or overpromise
• Expect and learn to live with ups and downs
• Stay cool, calm and collected. Don’t allow anger to interfere with your thoughts and actions
• Pay on time and make sure you get paid
• Treat others fairly
• Get things in writing
• Make sure others treat you fairly
• Do work that makes you happy
• For each assignment, give your clients more than you are paid to do the work
• Manage a variety of assignments while developing yourself as a specialist in one or more areas
• Charge fair prices
• Don’t overcharge
• Be prepared to walk away
• Stay in touch with your clients and prospects.

Things to remember about “Secrets of a Freelance Writer” by Robert W. Bly

A very well-written, enjoyable and relevant book that focuses its attention on the best ways to make a comfortable living doing freelance writing, with a plethora of productivity, self-promotion and client relationship oriented tips.

Highlights:

• The quality of the writing;
• The countless practical tips in the form of lists;
• A sincerity in the approach that is felt on every page;

Weaknesses:

• A book that has aged a bit — since 2006, the situation of the freelance writer has been largely transformed by the exponential development of the internet and social networks.