Most people think that being a freelance writer is a lucrative career option; however, the truth is that it can be quite the opposite. In fact, it can be so lucrative that it can even be considered a risky business venture.
You might be wondering how you can make more money as a freelance writer. After all, the more you write, the more you’ll make, right? Not exactly. Sometimes, it’s how you sell your work that determines how much you actually make. For instance, you might sell your work to a publisher. In that case, you’ll earn a set rate per article. Alternatively, you might sell your work to a blog. In that case, you’ll earn a set rate per piece along with possible additional perks, like affiliate earnings or sponsorships.
The Pros And Cons Of Working As A Freelance Writer
The pros of working as a freelance writer include the flexibility and the ability to work remotely. You’ll have the option of taking on projects anywhere in the world. Moreover, you won’t have to deal with anyone but yourself. Also, you can set your own hours and work remotely, if you choose. This last point is important because if you find yourself in a situation where you’re required to be in the office every day, it might be difficult to fulfill your obligations as a father or husband. You’ll also be able to set your own deadlines and be consistent with your work.
On the other hand, the cons of working as a freelance writer include the stress of having to secure projects and the fear of having your work rejected. The amount of work available is finite, and there will always be people who have more experience or who are more established than you. Finally, there’s the issue of consistency. If you aren’t prepared to write every day, it can be difficult to create content on a frequent basis. As you can see, there are many pros and cons to working as a freelancer. Which side you’ll come down on will depend on your personal circumstances. If you’re looking for a stable career with steady earnings, you might want to think twice about pursuing this path. Nevertheless, if you’re looking for something with more excitement and less responsibility, working as a freelance writer might be the perfect fit. You’ll be able to weigh the pros and the cons and make the decision that’s right for you.
The Steps To Becoming A Successful Freelance Writer
If you’re thinking about making the transition to become a successful freelance writer, here’s what you need to do. First, decide what kind of freelancing you want to pursue. There are hundreds of niche markets, so you may want to consider what makes you special and what you can offer that no one else can. For instance, maybe you can bring something to the table that nobody else can offer. Who knows? You might discover that you’re good at articulating complex ideas in a simple and practical way. In fact, some of the world’s greatest business legends were brilliant writers. If you can write and communicate well, you might have the ability to become incredibly successful. Your customers will love your insights and you’ll be able to make extra money whenever you want. This kind of freelance writing can be extremely lucrative if you’re able to secure projects and can negotiate the right prices with publishers and other organizations.
Next, you’ll want to secure the proper business and professional licenses. Unless you’re legally mandated to work in a certain country, you don’t need to secure a work permit. Nevertheless, it’s advisable to obtain a commercial license or a press card. The commercial license allows you to work for clients who’re not your immediate fans. The press card allows you to write for publications whose editors don’t necessarily have to approve your work before they see it published. In some cases, editors might even decide to publish your work without fully reading it first. This is especially common when working with smaller publications. They might not have the funding to thoroughly vet your work before publishing it.
After you secure the proper licenses, you can move on to the next step. This is where you find your first client. Nowadays, it’s easier to connect with potential clients through online marketplaces like Upwork.com or Find a Freelancer. Still, you might want to consider asking other writers for advice, connecting with literary agents, and setting up a profile on social media to attract potential clients.
Once you have a client, it’s time to negotiate a contract. Even if you’ve been working together for a while, you’ll still want to put down in writing what you’ve agreed to. Moreover, make sure that you’re both clear on what your responsibilities will be and what the client’s responsibilities are. For instance, you might want to ask the client to prepay you for some of the work that you’ll do. This enables you to budget for the project and gives the client the ability to pay you even if the deadline is met but the work isn’t completed. It’s also common for clients to want to put a non-compete clause in the contract. This prevents them from hiring you to write for their competition. Sometimes, this can be really difficult to avoid. In some cases, a non-compete clause might be unnecessary. Nevertheless, it’s still good practice to ask before you sign the contract.
The Most Lucrative Niches For Freelance Writers
As you can see, there are many lucrative niches for freelance writers. If you can land a client in one of these areas, you’ll be able to make a great living. Some of the most popular and lucrative niches for freelance writers include the following.
1. Health and Fitness
The health and fitness niche is one of the most popular and lucrative niches for freelance writers. There are hundreds of fitness brands and publications that can afford to pay you to write about health and fitness topics. If you can establish and maintain a good reputation in this area, you’ll be able to generate a steady stream of leads and projects. Moreover, since people are more likely to be open about their health concerns and feelings, this is a great place to get your feet wet as a freelancer.
2. Entertainment
If you’re a fan of TV shows, movies, or music, you can explore the entertainment niche. This is a place where you can get paid to write about topics like television, movies, and music. Again, if you can establish and maintain a good reputation in this area, you’ll be able to generate a steady stream of leads and projects. Moreover, the audiences for these publications and platforms are looking for content on the subjects that you might be interested in.
3. Lifestyle
The lifestyle niche is another lucrative area for freelance writers. If you can establish and maintain a good reputation in this area, you’ll be able to generate a steady stream of leads and projects that pay generously. The only caveat is that you must have the ability to entertain and be informative about the topics that you write about. In this case, you might want to consider a hybrid approach where you combine writing with video or audio content creation. Moreover, make sure that you’re armed with the proper equipment. You might want to consider getting a DSLR camera or microphone so that you can document your work and listen to what your customers have to say.
4. Food
If you’re a good cook, you might want to consider exploring the food niche. This is a lucrative area for freelancers who can write about topics like restaurant reviews, cooking techniques, and new restaurant openings. If you can establish and maintain a good reputation in this area, you’ll be able to generate a steady stream of leads and projects that pay generously. Moreover, as a freelancer, you’ll have the freedom to research restaurants that you’ve never heard of and to write about the ones that you love most. All of this can be done remotely, which is why this is such a popular option for digital nomads who are constantly looking for ways to make extra money.
5. Tech
Finally, if you’re a tech enthusiast or enthusiast, you might want to explore the tech niche. This is a place where you can get paid to write about topics like mobile phones, tablets, the Internet, and social media. If you can establish and maintain a good reputation in this area, you’ll be able to generate a steady stream of leads and projects that pay generously. Moreover, since people are constantly searching for ways to learn more about mobile phones, tablets, and the Internet, this is a great place to get your feet wet as a freelancer.