One of the biggest challenges of being a freelance writer is earning a consistent stream of revenue. While it’s great that you can get paid a fair price for writing content, maintaining a consistent income stream can be difficult. Freelance writing can be a tough job for many people, but there are some tips that can help you smooth out that income stream.
Keep reading to learn how to earn a consistent freelance writing income.
Plan for Slow Periods
Some months will be busier than others, and it's important to plan for slow periods accordingly. That means creating a detailed budget so you know exactly how much you need to earn and/or save to be able to pay your bills and live comfortably each month. Then, take advantage of the blogging opportunities and writing jobs you have and use that income to float your slow periods.
It's also helpful to develop a marketing plan to sell your services to new clients. You can also use your downtime to develop new processes or ways to earn passive income. As your business grows, you'll have fewer quiet periods and start to earn a consistent freelance writing income.
Diversify Your Freelance Writing Income
Writing is a fantastic skill to have because you can easily diversify your work. Working on different types of content is a great way to learn new skills. It can also help you fine-tune your freelance writing niche and increase money-make opportunities.
Some common ways for a freelance writer to make money include:
- Make money as a blogger by publishing high-quality content on your own website and using sponsorships and affiliate marketing
- Pitching your freelance services to companies/brands in your niche
- Partnering with a marketing agency that provides consistent work
- Working on a retainer or per-project basis for different companies
Whatever you do, don't put all your eggs into one basket. Yes, it's a cliche — but for good reason. If all your money comes from one or two clients or projects, you run the risk of taking a huge hit if you lose that income.
In short, vary the type of work you do. Don’t just align yourself with one client or a company. Try to branch out, network, and meet new people to open up more job opportunities. This will help keep the revenue flowing and give you more choices for income.
Send Regular Pitches
If you have a full roster of freelance writing clients, should you keep pitching potential clients? The answer is a big, fat YES. While it may silly to keep pitching when you already have enough work, waiting until you lose clients to start filling your schedule only leads to disaster.
Regularly sending cold emails and building relationships with potential clients is the best way to maintain a consistent freelance writing income. With new clients already primed, you won't feel the panic and uncertainty if a big client cancels your contract.
New to cold emailing or need some help refining your pitch? Check out this guide on how to send client-winning cold emails!
Freelancing is by no means a straightforward path. It takes a lot of hard work, dedication, and perseverance to be successful. But if you're willing to put in the time and effort, it can be an incredibly rewarding — and profitable — experience.
Remember that success doesn't happen overnight. It takes time to build a client base and establish yourself as a freelancer. So, don't get discouraged if things aren't moving as fast as you'd like them to. The only way to earn a consistent income as a freelance writer is to put in the work. And, the more time you devote to growing your freelance writing business and skills, the higher earning potential you'll have.
There you have it: 4 tips to earn consistent freelance writing income. If you enjoyed this article, you may also want to check out these articles on how to manage money as a freelancer and how to grow your online business faster.