Make Money Through Freelance Writing
Saturday, May 5th, 2012Freelance writing is a growing opportunity for motivated people looking to earn a few extra dollars with part-time, flexible employment. It is even possible to maintain a full-time career by developing a writing portfolio, although this requires a larger investment of time and energy. There are numerous websites available where one can write articles, blog posts, press releases and other web-content. While it may require diligence and effort, opportunities to make money in the current economy do exist. In order to make the most of them, some initial preparation and research is helpful.
- Diversification – Freelance writing is primarily contract work, and all contract work has its market ups and downs. The key tactic to thrive in such a market is to diversify. Instead of writing ten articles for one website, a successful freelance writer seeks ten websites that need articles and writes an article for each. That way, if one website stops producing income, it is much easier to find a replacement.
- Writing – It may seem to go without saying, but good written communication skills are a freelance writer’s main selling point. If the client doesn’t like the way a writer phrases something the writer doesn’t get paid, so polished grammar, spelling and punctuation are critical for success.
- Organization – Working in a contract environment is a test of one’s organization skills. There are no managers or leaders to monitor progress, record improvement opportunities or assist in developing critical business skills. The freelance writer must learn to develop their own strategies for organizing work, maintaining efficiency and meeting deadlines. Disorganized writers do not succeed for long in a competitive environment.
Developing an income goal should involve a diversity of resources (as mentioned above), but just using different websites isn’t enough. The two major avenues to pursue for freelance writing income are called “up-front pricing” and “residual payment”.
Websites that use “up-front pricing” are structured and client-based, where a writer receives assignments with specific requirements. Each client has different needs, but many require writers to use specific key-words in specific contexts. Many clients also request a writer use a particular tone or voice, or include other facts or resources. The writer must meet each of these requirements for the client to accept the article, but once this happens, payment is guaranteed.
Websites that use “residual payment” generate revenue through advertising, and split the income with the writer. Different websites offer a variety of payment plans and structures, but the benefit of residual pay websites is flexibility. Although the pay is generally lower and more sporadic, residual pay websites allow the writer to choose the content of articles they write, with a few restrictions. Once the website publishes the article, the website usually surrounds it with contextually appropriate advertising, and each time the advertisements produce revenue for the website, the writer is paid a percentage.
There are many factors that go into the process of becoming a successful freelance writer. Some of the above tips should provide insight into the qualities that are important to becoming successful in the freelance market, and should provide a jumping-off point for future research. It may require hard work, but it is feasible to make money and develop an independent career as a freelance writer.