Spreading the Wealth

I've talked about finding ways to create a residual income here before, but now I'm actually taking steps to do it. There are lots of writers out there making money from more than their client projects. Some writers write books and receive royalties; others write ebooks and reports, create and monetize niche websites and blogs.

Building "passive" income

This income is anything but passive considering the time and energy that needs to go into creating the final product. The fact that it can continue to make money long after you've created it is the lovely thing about it. This combines well with everyday client projects.

Write for yourself

Some writers say their "passive" income has grown so much that they have the luxury of scaling back on client projects. They can spend the majority of their time writing for themselves. Beautiful.

Have you made any effort to create a passive income with your own projects, or is it something you've ever considered?

New Project Negotiations

Last week ended on a very promising note for me. I have one prospective client contacted me via my Linked In profile (it needs a SERIOUS rehaul), and another client I actually found on Anne Wayman's job list could also turn out to be a very good thing…

Still, I wonder because this prospect and I have been locked in a back and forth dance of sorts every since Wednesday when I first responded to his job offer. He promptly responded with interest outlining several more projects his business needed right away. So I sent him a detailed scope of the three he highlighted as the most important.

The waiting game begins

By Friday I had told him everything I could without sending him the completed project. I forwarded email an agreement and payment information to receive the down payment so that I could get to work and meet the proposed deadlines. But we would dance around getting started bit longer…


I received an unexpected call from him on Saturday morning as I was wrangling my brood into submission (it was raining outside for the second full day if that gives you any indication of what I was dealing with). He apologized for calling me on a Saturday, but really wanted to discuss the project more. He asked if I could set aside some time during the day.

I broke my own golden rule

I don't know why I even answered the call – I try not to work on client projects over the weekend unless discussed in advance. I also prefer not to set a precedent where clients think they can contact me whenever they like outside of my normal working hours (which are anything but, but he doesn't need to know that, right?). I felt like this was a project I should make an exception for, so I asked him to call me back in an hour.

I think his call was more about verifying that he was actually dealing with a professional before he forked over his money. I can't be mad at him for that. When he called back, he indicated that he would be sending back the signed agreement and down payment soon.


Still waiting…

Now it's Monday. No agreement and no down payment to get started on a project that needs to be completed before the end of this month. Don't get me wrong, I know that some projects take longer to get started – especially when you're dealing with a brand new client. I guess I'm guilty of impatience, especially when I'm ready to get started.

I also know that prospects say they need projects done and fail to follow through quite often. That's just the nature of the freelancing beast. I'll just keep my fingers crossed on this one, but keep pushing forward.

I'm curious to know how other writers handle projects that get stuck in the discussion phase. Do you just move on until the client makes up their mind?

A Scheduling Challenge - Waiting for the Work

I have a client who has been getting a big project ready for me. I know that clients often make big promises of work and fail to deliver, but I am confident about this project because I have already received the down payment for the work, and a signed agreement – a month ago.

My client began preparing me for this big project around July. He said that I should even consider finding some other writers to help out. I reluctantly put a couple of feelers out to see who might be interested in helping out. My reluctance was because I didn't know when the work would come exactly, so I didn't want anyone to pass up paying work until I knew for certain.

A couple of good freelance writers have let me know that they are willing to help out when the work arrives. But since I will be responsible for the bulk of the project, I have been wondering whether I should keep my own schedule slightly open just in case it arrives – because he has made an initial payment and there will be a lot on my plate during that time. But in the meantime, I've got to eat, and the mortgage must be paid.

I hate trying to juggle the projects I'm currently working on with those that "are coming soon." I haven't stopped working, but honestly I could have taken on more projects while waiting. In the future, I will have to handle things differently. Have you ever dealt with a project that's been perpetually placed on hold?

Finding Time to Work on Your Own Stuff: a Freelancing Necessity

I have turned over a new leaf. I will no longer spend my weekends slaving away on freelance writing projects – except if there are unusual circumstances (must be flexible because unusual circumstances have a habit of showing up in my life completely unexpected).

I was keeping a schedule over the last three months that was nearly running me into the ground. Burnout was just around the corner. And to be completely honest, it was my own fault because I wouldn't establish a writing schedule each day. Since I stopped turning my nose up at creating a more structured work day, I have gotten much more accomplished. Besides, I need a life.

I have made a commitment to start working on my own stuff more regularly. Prioritizing my day is the only way to find the time. I need to do all sorts of things: design a new website, write the content, re-purpose some articles, develop a special report, promote my business…you get the idea.

I have been squeezing in time every evening and on the weekends to brainstorm and work on my stuff. When you are everything to your business – the business manager, administrator, accountant, creative/designer, etc. – It can become overwhelming. When I start to feel that way, I think of the answer to the question: 'How do you eat an elephant?' You do it one bite at a time.

Working on your own projects is an important part of growing your business. Taking classes, creating products of your own to sell, writing advance blog posts, writing a book and other projects could ultimately affect your bottom line – profitability and income. It's an investment in your business and your future. After all, you spend hours working on writing projects for your clients everyday. Shouldn't you make time for your own business?

Can Your Marketing Efforts Work Too Well?

I know I am always preaching about the virtues of consistent marketing, but this weekend off has really got me thinking. I came across The Irreverent Freelancer's Friday post entitled "The Freelance Market is Temporarily Closed." Kathy Kehrli discusses something I think every solopreneur ends up struggling with a some point or another – balancing a schedule crammed with existing clients and projects while continuing to market for new clients. I can relate to this post so much right now that it's not even funny.

You have enough work to keep you busy for months. In fact, you can't fit in any more clients right now since you are already working 10-15 hour days seven days a week to handle everything on your plate as it is. Your marketing fear is a legitimate one: suppose you continue the same pace of marketing, and a prospect responds with a new project while you are completely swamped with projects. Do you accept and do a mediocre job, or place them on a waiting list for up to one month?

And then there is another scenario to worry about: Suppose you stop marketing altogether while you are busy, then November and December roll around and you don't have enough projects scheduled. What then?

I actually experienced this situation a couple of weeks ago while working on several projects at once – one of which was quite challenging. I suddenly had a new client, which was a testament to my vigilant marketing efforts, but the timing couldn't have been worse. Working with a new client takes extra time to make sure you understand the project scope and understand their business needs. Unfortunately, I just didn't have a lot of time to spare. Somehow I pulled it off, but what about the next time?

I've seen writers post messages like "Not Accepting New Clients until …" on their websites. Believe me, I have certainly felt like doing that, but don't think I can. In times like these you could loose a client in the blink of an eye. How badly it would effect you depends on a lot of things like whether you have another income to depend on, how much money you have saved to fall back on or whether you have other clients in place.

This is becoming a real challenge for my freelancing business. Still, until I find a better solution, my gut is telling me to keep on marketing (maybe contacting fewer prospects) no matter what.

Want New Clients? Market, Market, Market

Some freelance writers may find July and August to be a bit slow as far as the number of projects coming in (also known as income) is concerned. I hear from many more experienced writers that it's pretty typical. I have had slow periods during these two months followed by bursts of busyness – crazy!

Now I tend to be the kind of girl who thinks ahead. And even though I have existing clients currently courting me with promises of an abundance of projects in the coming months, I also know that November and December are around the corner and can be notoriously slow months as well. I was quite busy during that time last year when I was just getting started, but I can't really bank on it this time around. That's why I have been busy, busy, busy marketing my little heart out.

A few weeks ago I shared Yuwanda Black's Summer Marketing Tutorial post with you about the importance of using the slow period of summer to gear up for new writing projects clients will soon need. Now is a great time to let potential clients know that you are available.

If you are committing to some sort of marketing strategy each day – whether it's cold calling, email or snail mail, you will start to see the fruits of your labor if you stick with it. I know, I know; marketing is tedious – you have to keep doing it over and over, again and again. Yep, that's pretty much the gist of it. But in my humble opinion it can't be beat when you're trying to build up a clientele that pays well. Most of these guys don't advertise the writing opportunities they have available.

I spent the month of July marketing pretty consistently (I may have missed a couple of days here and there…). So far I have three new clients lined up. Two have scheduled projects to begin in mid September, and I am negotiating with another to start within the next week or so. I didn't even count the people who responded with interest and said they would be keeping my info on file so they could get back to me at a later date. Things may or may not pan out with these prospects, but I am on my way to filling up my editorial calendar for the remainder of 2008.

I am tempted to stop marketing when it seems like I might be getting slammed with work, but I know that consistent marketing – even during busy periods – will ensure that steady work continues trickling in.

Getting it All Done: How Do You Manage Each Day?

I think I have made this confession on this blog once before: I am NOT a very organized person. It's in my nature to grab every last bit of sleep I can; which means I may not wake up in the morning until 9:00am (even my kids sleep like this) – a very late start according to many freelancers. I tend to be a night owl – the residual effects of years of late night studying while in college maybe.

I also have a tendency to be a big procrastinator. I used to wait until the last minute to get things done. I'd meet my project deadlines, but I certainly could have paced myself much better.

As I began acquiring more freelance projects, these personality quirks started causing a lot of problems. It's not easy to juggle multiple projects without a plan, and my lack of planning was a disaster waiting to happen. I wanted a successful freelance writing business that would allow me to stay home with my children while I paid the bills. But my priorities were out of order. Being a solopreneur, I wear all of the hats in my business: administrative, billing, bookkeeping, marketing and so forth. I wondered why I never seemed to have time to market my freelance writing services and get my projects completed early. I was not as productive as I knew I could be. Meanwhile my house was in shambles.

The solution was pretty obvious – I needed to prioritize my work day. I do this by making lists. I love lists! The night before each workday, I list everything that needs to be done – writing projects, time for marketing, invoicing and filing. When making my list, I think about how my energy tends to ebb and flow during the day. I tackle writing projects and marketing during the time of day when my energy is highest. I also keep track of new projects, projects in progress and those I've completed on a spreadsheet. When a task on my list is complete, I cross it off. My favorite part! This has helped tremendously.

I also get up much earlier in the morning. I need quiet time for myself each morning to prepare for my day, and I can just as easily get in a few hours of uninterrupted writing time in the early morning hours as I can at 2:00am (there are still a few nights when I find myself working at 2:00am, but not nearly as often).

As a freelancer, you know that juggling projects with other tasks is just part of the game. Prioritization is the key to getting it all done.

When You Need a Little Help

This week I have been pretty swamped with work – a good thing, no doubt. I am also working on a new website and some new marketing strategies, so my sleep has suffered a bit. One of my clients has been discussing a possible big project that I am REALLY looking forward to finalizing. I'll have to juggle it along with all of my other projects and my responsibilities at home (mantra: school starts in eight weeks, school starts in eight weeks…) and I have been toying with the idea of outsourcing.

When I decided to start freelancing full time, I wasn't prepared for how quickly things would take off. I was very quickly overwhelmed with writing assignments and deadlines – I didn't know anything about establishing a work schedule, and I didn't know how to estimate how long it would take to complete each project. Experience is the best teacher, so I figured it out.

I also started thinking about finding a couple of other writers to help me out. I am so fortunate to have one very professional writer whom I have outsourced projects to in the past. She is great about meeting deadlines and all that good stuff. But I have also had some bad outsourcing experiences with writers who would send me some very professional samples of their work, but then turn in garbage when it came time to submit the assignment. And then of course there was that one writer who never even turned in the assignment… Experiences like that are more stressful than just doing it all yourself.

Some writers are successfully working with teams of five to 20 different writers! Honestly, the idea of managing that many different people makes me nauseous. If things get too wild around here, I know I can count on at least one good writer. But who knows how long that will last?

Saying Goodbye: Losing a Client

It was good while it lasted, but I have lost a client or two. It's true. One was an unfortunate victim of the increasing popular company cutbacks resulting from the current state of our economy (I'll keep my political views to myself…). Another never contacted me again after I completed a couple of projects she really seemed to like. And then there was the client who needed me to politely explain the reason why things weren't working out between us. What can I say? It happens.

So you'd better be prepared. Now I'm not saying that you won't have faithful clients for one, two or more years, but if you're like me and you have mouths to feed, it's not a good idea to have just one or two "eggs in your basket." When you have several clients to work with it softens the blow when one of your eggs unexpectedly falls to the wayside.

Diversity is a good thing in business. It provides more security. This week two of your clients need work done, and next week three more need you to send over contracts to begin new projects. Freelance writing is a business prone to feast or famine periods. Dealing with multiple clients just makes sense.

It takes a bit of juggling. You don't want to screw up and miss an important deadline or you might end up kissing another client goodbye. It's important to be organized when you are dealing with multiple projects. You also need to be realistic with yourself about what you can handle.

When a client moves on, don't take it personally - unless you know for a fact they moved on because of something you did. And even if that is the case, treat it as a learning experience. Be honest about what happened, learn the lesson and move on. We all make mistakes, especially in the beginning.

Nine times out of ten a client is moving on for reasons that may have nothing to do with you or the copy you write. They may need to cut back financially and can no longer afford you. They may have found another writer who charges less than you and they don't know how to tell you. They may be taking a copywriting break. I can come up with excuses all day, but you get what I'm saying. Who knows why it happens, but it does.

All you can do is continue to learn and improve your craft and hone your business skills. Market, market, market your services consistently to bring in new business so that if a client suddenly up and leaves, you'll barely notice.