12/27/13

Increase Freelance Writing Income by Broadening Your Income Sources

There are so many writers around complaining about how hard it is to make a decent income from writing articles these days. Unless you've signed up to a site paying pennies-per-hour for your time and effort, nothing could be further from the truth! I’ve been writing full-time for 8 years now and I’ve learned that a good writer can easily earn a full-time income from their writing efforts. 

In order to break away from the low-paying ranks, you’ll need to treat your writing as a business proposition – and this means learning to make sure your business has as many streams of income coming into it as you possibly can. The key to making this work for you is to treat your writing skills as a viable, marketable product - and then go out and find the right customers for your particular products

In business terms this is called “broadening your debtor base” but it simply means making sure that there is always money coming in from someone, somewhere, all the time. If you rely on just one source of income, then you’re really in trouble if that one source dries up! The more sources of income you have coming into the business, the more chance you have of getting your business to grow to a six-figure income.

Here are some of my favorite options for keeping my writing business strong:

1) Write Articles Offline
This is the main income source for my writing business. I’ll write about whatever topic comes into my head. Selling articles to magazines and newspapers is fun, challenging and rewarding - and pays a whole lot MORE than any writing market you'll find online. Do a Google Search for “Writer’s Market Listings” and search out the high-paying magazines actively looking to pay big dollars for quality articles.

2) Write Articles Online
This has become a secondary form of income for me in the last year because the pay is about 1/10 of what you could earn by writing for offline publications. Even though the pay-rate is lower, the potential for quick, easy, repeat-business means quick cash into your writing business. 

Marketplaces like Constant Content make it very easy to write anything you feel like. You set your own prices and wait for buyers to snap them up. I've written a lot about how to earn more from Constant Content sales on this blog already, so check them out (http://ravens-writing.blogspot.com.au/2013/09/increasing-your-freelance-income-with.html)

You can also find plenty of private clients willing to pay good rates for professional, reliable writers to create content for them. If you're really stuck, you'll also find various content mills around the place offering to pay a flat rate for articles you generate.

3) Royalties
I am always amazed when I meet a writer who is serious about earning a full-time income from writing - and they haven't even considered the true value of earning royalties for their skills. You get paid royalties for writing a book, novella or short story and publishing it with a good publisher or publishing platform. It doesn't matter whether your work is non-fiction and informational in nature or a fictional story you created. You do the work once and you earn money for each sale you make for as long as that work remains available for sale! Such an easy option to boost income for any real freelance writer. You will have to think about some book promotion and marketing tactics to keep sales coming in, but it's really easy when you know how.

4) Write Fillers
This one is a weird little writing market – but it’s one of my favorites. The pay-rate per word is so high and the work is so quick that you can churn out quite a lot of these every week and make good money. A “filler” is the tiny snippet of information you'll find in multiple places and pages inside every magazine. It might be a joke or a riddle or a funny saying or puzzle or even a recipe. Many glossy magazines will pay $20-$25 for a 50-word phrase or joke or recipe. That’s great money for very little work!

5) Paid Blogging
I’ve had a blog for a while but it never occurred to me that people would pay me to post in my own blog! But they do. My logic in taking on this extra source of writing income was that I’m now being paid to do what I was doing anyway! There are sites around that will pay you to blog about topics their clients want. Others will pay you to create blog posts for their own blogs. Easy money.

6) Building Your Own Blog
When you write on your own blog, you're building your brand. You have the freedom to monetize your site however you choose and it's likely you'll be happy to share the links to your blog posts on various social media sites you have profiles on. You're building a readership at the same time as giving you another platform to write on.

7) Value Your Time
If you're serious about earning a full-time income that will cover your bills and sustain your lifestyle comfortably, it's important you take stock of how much you're earning for your efforts in the time you spend. As an example, if you spend 1 hour writing an article you intend to sell on Constant Content for $50, it's likely you're earning around $32.50 per hour (that's after CC take their fee from your sale). However, if you spend waste 50 hours per week trying to earn $50 on a pennies-per-hour amateur site like Bubblews, you're earning $1 per hour.

Always monitor the hourly rate you're earning for your writing skills and talents. Have some self-respect and get rid of any writing avenue that doesn't match up to the amount you need to survive. Be brave enough to replace low paying sources with better quality clients or writing income sources as you find them.

These are just a few ideas to help increase your writing income. The best part about writing across different forms and niches is that you never get bored. You’ve always got something different to work on – and they all have the power to increase your income!

Any writer who is really willing to diversify and break into a few different forms of writing will find that earning a full-time income really is easier than you think! 

1 comment:

Lem Enrile said...

Hi Ms Bianca. I am a newbie freelance web content writer, and I want to broaden my income sources through writing offline. But how do I properly pitch magazine owners that I would like to sell some of my articles or how do I say that I would want to write for them? Thanks!