Why freelance writing is a BUSINESS
What do you do when you’re a freelance writer in the business of selling you?
Over the past six years, we’ve been able to create ideal freelance writing careers by refining our service offerings, experimenting, and building our subject matter expertise. The big picture result: six-figure businesses that are thriving.
But this didn’t happen overnight. We’ve certainly come a long way from “winging it” to growing businesses with intention. Now, we’re sharing everything we’ve learned in our new podcast: Freelance Writing Coach.
In episode one, we talk about the importance of thinking about freelance writing as a business.
What does it mean to think of freelancing writing as a business?
Many freelance writers don’t think of what they’re doing as a business. Freelancing is often thought of as something to do between roles or while you’re figuring things out; not a long-term career path or a full-fledged business.
“Most people come in as creatives, so we are conditioned to think ‘This is my art: I’m not a business person, I’m a writer.’”
Emma says that what sets freelancers apart is how they treat what they do. Some treat their work as a job; they see themselves as an individual who is self-employed. Others treat what they do as a business—a real business with actual business practices.
Starting to think like a business owner can be as simple as hiring an accountant for your taxes or getting a lawyer to look at your contracts. Even though it doesn’t always feel natural for creatives, becoming a business is essential to finding success as a freelance writer.
“Thinking of freelance writing as a business made all the difference and allowed me to grow it.”
Committing to your freelance writing business
On the surface, being able to set your own schedule and stay in your pajamas all day doesn’t sound like running a successful business. In fact, sometimes it almost feels like you’re getting away with something, according to Kaleigh.
That feeling of “getting away with something” starts to carry itself into conversations with clients. You start to question your rates, whether what you’re doing is valuable or not, and wonder why would someone pay $100+/hr for me to do this?
“Unless you’re fully invested in your freelance business, it’s hard to go into conversations with clients feeling confident about what you’re doing.”
When Kaleigh and Emma started thinking about their rates as business rates (instead of a personal rate), they felt much better talking to clients. “I have to remember, it’s a business; it’s not really about me,” Emma said.
The same distinction helps when you’re receiving feedback or selling your services. Being a business means essentially adding a layer between you and the work you’re doing.
Remember: It’s not personal, it’s business. And the sooner you go all-in on your business, the sooner you’ll open the doors to more opportunities. It’s a matter of asking yourself: “Am I going to go all-in on this?”
Understanding your finances as a freelance writer
Finances may be the last thing most creatives want to spend time thinking about. Cue the: “Can’t I worry about the business stuff later?” question. But to move from being a gig worker to running a successful, sustainable freelance writing business, you need to understand your finances.
The best way to get started? Create separate bank accounts.
We both agree: setting up separate bank accounts is crucial because it helps you get into the mindset of having a business.
In Emma’s experience, having separate accounts has made all the difference in growing her business. She used to worry about her personal bills and question every business cost. Now, she can make business investments with confidence, instead of worrying about whether or not she can afford them.
“It’s impossible to quantify if you’re running a profitable business unless you keep things separate. Financial differentiation allows you to grow because it allows you to see a clear picture of your business’s health.”
Does your title matter?
There’s also a lot of talk about the term freelancer being a dirty word.
Some feel that it positions people as non-businesses. So do you need to come up with a new title? Not necessarily. At the end of the day, what matters to clients is your ability to provide results. Clients care about whether you can solve their problems. They care that you do what you say you’re going to do, when you say you’re going to do it.
Focus on what kind of social proof and results you can bring to the table. Don’t get too hung up on what you call yourself. Instead, think about your skills and your track record. What can you bring to the table? That matters more than what you call your business (whether you’re a marketer, consultant, or freelance writer.)
Once you shift to the business mindset, possibilities are endless.
Treat what you do in your freelance writing career as a business
Recognize the value you bring to the table, jump in, and trust you will be resourceful along the way. If you think of your freelance writing as a business, the world is your oyster.