4 Proven Strategies to Earn More Writing
One of the most common questions I receive is “How can I earn more writing?” Many freelance writers begin their careers by accepting low-paying jobs or working with less-than-ideal clients. I get it: it’s exciting to land your first client, even if they’re only paying you peanuts! But once that excitement wears off, you may be left wondering, “How can I make freelance writing into a sustainable career?” The trick is to earn more writing. Keep reading to learn how to start bringing in the cash!
When I first began my freelance writing career, I was significantly undercharging. Like, we’re talking $80-for-a-1000-word-article undercharging (for reference, I now charge $400 for an article of the same length).
Most newbie freelance writers find themselves in the same boat, and there are a few reasons for this.
4 REASONS WHY YOU’RE UNDERCHARGING AS A FREELANCE WRITER
1. You’re calculating your hourly rate based on your 9-to-5.
If you make $58,000 per year, you work 40 hours per week and take two weeks of paid vacation every year, then you make $29 per hour, right? Not exactly. You see, when you work a traditional salaried job, you get paid a set rate per pay period no matter how many hours you actually work. As long as you’re at the office during regular working hours, you’ll get paid the same amount whether you put in three hours of real work or 30.
To understand how much you’re truly making per hour of work, you’d need to track the time you spend actually working, not the hours you spend chatting with coworkers and shopping online. This will give you a better idea of how much your time is worth.
Keep in mind though that you can earn more writing than you can at a regular salaried job, so this number is only a jumping-off point.
2. You’re not factoring in your expenses.
When you work in a traditional job with benefits, your employer takes care of many of the expenses you incur, like your health insurance premiums and the electricity required to power your computer. Your employer also pays you if you need to take a sick day or if you want to go on a vacation.
When you’re a freelancer, you are responsible for all of those costs. There’s no paid vacation when you’re a freelance and no health insurance coverage.
So if you want those things, you’ll need to charge more!
You need to factor in expenses that you normally wouldn’t have at a traditional 9-to5.
3. You’re basing your rates on what others charge.
I always see newbie freelance writers asking for advice on how much to charge for their work. They want to know how much others charge so they can make sure their rates are in line.
If this is you, please stop doing this! It does not matter how much other freelance writers charge.
If you’re cold pitching (which you should be), you can command your rates and charge what your time is worth, not the same rate that another writer has determined their time is worth.
4. You’re basing your rates on what you see posted on job boards.
Whenever you visit freelance writing job boards, you see lots of jobs with rates like $15 per 1000 words. Thus, you believe that $15 per 1000 words is the going rate for freelance writers. Spoiler alert: it’s not! If you’re good, you can easily charge upwards of $.20/word straight out of the gate with zero experience.
If you’re basing your rates on what you see in freelance writing job boards, you’re thinking way too small.
HOW CAN I MAKE MORE MONEY AS A WRITER?
So let’s get down to the nitty-gritty: how to earn more writing. First things first: these tips are for established freelance writers. If you are a newbie who is looking for advice on getting started, bookmark this article and read my guide on How to Start Freelance Writing. Come back once you’ve launched your career and we’ll talk again!
Now, for the established writers, here’s how you can earn more writing.
Forget freelance writing job boards! They’re a race to the bottom.
HOW TO EARN MORE WRITING
Earn More Writing Method # 1: Raise Your Rates with New Clients
Duh! If you want to earn more writing, it makes sense that one of the first things you should do is to raise your rates.
So how much should you raise them by? However much you want! Remember: new clients won’t know how much you’ve charged clients in the past (unless you’re using Upwork). Thus, you can double or even triple your rates whenever you want. There is no need to gradually raise your rates over a long period. Whether you raise your rates by $10 or $100 per hour, no one will know!
If you’re looking for a little guidance, calculate your ideal hourly rate using my freelance writer rate calculator. Then just start asking for what you’re worth!
Earn More Writing Method # 2: Raise Your Rates with Established Clients
If you’ve been charging a client the same rate for over a year, it’s time to ask for a raise. Your time is your most precious resource, and if you’re spending all your time on low-paying client work, you’re not going to have the resources available to find better-paying clients.
If you’re fully booked but you still want to earn more writing, (politely) ask for a raise. If your client isn’t willing to budge on your pay, it’s time to walk.
Hint: my freelance business course comes with a script for raising your rates with established clients!
Earn More Writing Method # 3: Streamline Your Processes
As I said before, your time is your most precious resource. If you’re spending hours and hours on tasks you’re not getting paid for, it’s time to find efficiencies and reduce that wasted time.
First, you must track how you’re using your working hours. I recommend using Toggl, a simple time-keeping software. Start tracking how much time you spend on everything work-related: client work, reading emails, posting on social media, etc. Notice where you’re spending a lot of time, and then start finding ways to cut down that time.
It’s also wise to eliminate any tasks that aren’t helping you to make money. For example, if you’re spending five hours per week on Instagram but you’ve never actually found a client through the platform, it might be time to reroute your energy towards efforts that can make you more money.
As you streamline your processes, you’ll free up more time to work on client work and thus earn more writing.
Earn More Writing Method # 4: Learn to Write Faster
If you charge a flat rate for your projects (and you should), you can make more money by completing more projects more quickly. At this point in my career, I can bang out a 500-word post in 30 to 45 minutes – more than twice as fast as I could when I started writing. The more quickly you can complete projects, the more projects you can take on and the more money you’ll make overall.
Psssst! I have a whole post on how to write faster. Read this if you want to earn more writing!
Raising your rates, streamlining your process, and writing faster will help you make more moola.
HOW CAN I MAKE $500 A DAY?
$500 per day is a fantastic income goal for experienced freelance writers. At this rate, you could make six figures in a year and take 12 weeks of vacation. And who doesn’t want that?
So here’s what you need to do:
Figure out how many hours you will spend on client work each day. For this exercise, let’s say that you will spend four hours on client work each day.
Divide $500 by the number you came up with in step one. This will be your hourly rate. For this exercise, your hourly rate would be $125.
Get super specific with your niche and service. I recommend that new writers offer just one service to a very small niche to grow expertise. This will help you to improve your marketing efforts.
Identify your ideal client. Who is this client in your niche that will pay $125 for the service you provide? Get super-specific.
Once you’ve identified your ideal client, look at your portfolio and marketing materials from their point of view. If you were the client, would you pay $125 per hour for yourself? If not, start making strides to improve your marketing and services to meet that rate.
Keep cold pitching and moving forward with your marketing to attract your ideal clients. Don’t stop until you have a full book of business and are making at least $500 per day!
WHAT IS A GOOD FREELANCE WRITING RATE?
There is no “one size fits all” good writing rate. What works for you will depend on how much money you need to pay your bills. That’s why freelancers who live in places with lower costs of living can charge less and be perfectly happy.
A good writing rate for you is one that allows you to live comfortably, save money, and win new clients.
Curious to find your ideal freelance writer rate? Download my freelance writer rate calculator!
Put these practices into place, and you’ll soon be diving into a vault full of gold coins a la Scrooge McDuck. Now go forth and earn more writing!