Investing In Your Freelance Writing Business

by LoriAnne

The word, free, in freelance refers to your ability to pick and choose the clients you’ll work for and the schedule you’ll work – not that you’ll work for free or that you won’t’ need to invest in your freelance writing business.

At a minimum, you’ll need a decent computer to do your writing on, the associated software, a decent internet connection, a web site and an email address.

The computer is both where you’ll do your writing, probably with Microsoft Word™ and the way you connect with the world with your internet connection, doing everything from research to finding writing clients and/or assignments.

Although it’s tempting and sometimes even necessary to spend as little as possible, you also need to be willing to spend some money so you can make more money. That’s what investing in your writing business actually means.

For example, I once moved to a community and they had a free wireless connection available to everyone. Sounds great, but it wasn’t. The first day I connected I quickly realized I would not be able to access the net with any speed at all. Later that same day my connection went down. When I asked the manager what was up, he explained that the server providing the free connection was in someone’s house and that it probably needed rebooting. Since they weren’t home, I’d just have to wait. As you can imagine I was on the phone to a real internet provider within minutes. I knew I’d lose far more money sticking with the free connection than a real connection would cost me.

So how do you know what’s a good investment in your writing business? Ask yourself these questions:

Will it help me save money? We are given opportunities to save money for our business. For example, it might make sense to buy three reams of printer paper for the price of two, or to take advantage of a special on domain names if the one you want is available. A webinar like our 8 Tax-Savings Strategies will make sense for most freelancers. Taking advantage of early registration makes even better sense.

Will it help me save time? We all have the same 24 hours each day. All sorts of things might help us be more efficient and save some time including special purpose software to learning a new skill so you can do some part of your job more quickly. I think of spelling checkers for people who are creative spellers like I am, or taking a class that will improve your research skills. Joining a gym that’s closer to your home might save you enough time to be worth spending a bit extra.

Will it make my life easier? This can seem indulgent, but think about things like the right kind of chair or an ergonomic keyboard. Each may cost more than standard items, but has the potential not only of making you more comfortable and able to write longer now, but to protect you from injury. Almost anything that will improve your health falls in this category as do items like brooms, mops and vacuum cleaners that are easy for you to use. John Soares has an article called How to Be a Healthy Freelancer – take a look.

What will happen if I don’t have it? Another way to judge if an investment in your business is worth it or not is to ask yourself what will happen if you don’t have it. When I discovered the free wireless didn’t work well it was obvious that not having an internet connection I could count on would cost me money, the decision was obvious. It’s not always this easy. Websites are classic examples. Writers who do not realize how easy it is to put up a site using WordPress or Tumblr often balk, thinking they will have to pay someone thousands of dollars to put up their site. Not true, and a bit of asking around will usually reveal that. Not having a website is truly a false economy these days.

While it’s wise to be conservative with your money, be careful, as a mother-in-law of mine used to say, you’re not stepping over dollars to save pennies. Avoid impulse buying for your business and be super careful of going into debt – avoid it if at all possible. But be willing to invest in your writing business – it and you deserve it.

Write well and often,

Anne Wayman



Image: AttributionShare Alike Some rights reserved by 401(K) 2012

Leave a Comment

Previous post: