How I Increased My Freelance Writing Income By 79% in A Year

Are you a freelancer trying to develop your earnings? It may be robust to know the place to begin. Maybe you’ve fallen into comfy freelancing routines with purchasers you’ve been working with for months or years. 

That sort of stability is nice … however it will probably additionally preserve you trapped. Possibly you’ve stopped questioning your assumptions about how lengthy writing an article will take, for example, otherwise you haven’t raised your charges in ages since you’re nervous about dropping a shopper.

I’m going to take you thru the methods I used to extend my freelance earnings from one yr to the following. This isn’t a narrative about “how one can 10x your earnings” or “how I went from rags to riches in a single day,” … however as a substitute, I hope, a extra sensible and achievable have a look at how one can considerably improve your individual freelancing (or small enterprise) earnings. 

Let’s begin with the tip in thoughts: these methods led me to go from roughly $39,200 USD [£30,744] to roughly $70,500 USD [£55,266] in a single yr. That’s a 79 % improve. I did this round a traditional, on a regular basis life, with a partner, youngsters, hobbies, and plenty of different issues I didn’t need to compromise.

Right here’s what I did … and the way you are able to do the identical, whether or not you’re simply getting began otherwise you’ve been freelancing for years.

Step 1. Set Clear, Particular Earnings Objectives

I’ve been freelancing for over 16 years now, and I’m embarrassed to confess that for much too a few years, I didn’t have a specific earnings purpose in thoughts. I used to be protecting all my payments, and typically, I used to be joyful to easily make the identical quantity I’d been making in my day job once I was in my early 20s.

A lot later, I noticed it is a frequent drawback for freelancers and solopreneurs once I got here throughout this piece by Naomi Dunford of Ittybiz. She defined:

When you can’t appear to interrupt a sure quantity (and particularly if that quantity is suspiciously near your previous day job wage), you’ve acquired an higher restrict drawback.

Tips on how to Do It

Work out what you made final yr (final calendar yr or earlier tax yr, no matter is sensible for you). Then, set the next purpose for the approaching yr. Intention for one thing difficult however sensible: possibly a 25 % or 50 % improve, and even one hundred pc extra, in case you’re going to have the ability to work extra hours.

Let’s say you made $30,000 final yr. You might purpose for $45,000 this yr. It’s a big improve, however removed from an unattainable one.

Word: Personally, I set earnings targets for the calendar yr, however for the needs of this submit, I’ve given my earnings improve right here based mostly on tax years (for me within the UK, that’s April 6, 2021–April 5, 2022, vs. April 6, 2022–April 5, 2023) as that’s how my detailed information work out.

Step 2. Know What WON’T Work for You

In my enterprise, I may doubtlessly earn more money by subcontracting: loads of freelancers do, and that is how Kat Boogaard achieved some extremely spectacular figures as a contract author, scaling her enterprise to make over $300,000.

However for me, proper now, I just like the simplicity of being a one-person enterprise. My husband works away among the time and has a lot much less flexibility than me: I actually like having the ability to plan my work round simply me, taking day without work for our children as wanted. 

There are many methods I may improve my freelance writing earnings … however these aren’t trade-offs I’m prepared to make at this level in my life. Again earlier than I had youngsters, for example, I used to be joyful to work on weekends; now, I keep away from night and weekend work.

Tips on how to Do It

Determine what your individual “traces within the sand” are together with your freelancing. Maybe you need to preserve weekends (or no less than one weekend day) fully free from work. Possibly there are specific kinds of freelancing work you gained’t tackle – I do know freelancers who gained’t write items about weapons, say, or tobacco. 

There are many methods to make more cash throughout the boundaries which might be wholesome for what you are promoting and for you as an individual. 

Step 3. Break Down Your Annual Earnings Purpose Into Smaller Chunks

When you’ve acquired your earnings purpose, you’ll want to interrupt it down into smaller chunks with the intention to determine in case you’re on monitor or not at any given time.

After I first began doing this, I used to separate up my purpose purely mathematically. If I wished to make, say, £40,000 in a yr and wished to work 40 weeks (youngsters are at school for 38 weeks of the yr within the UK), then that might imply incomes £1,000 per week. But it surely quickly grew to become clear that not all weeks could be precisely the identical.

Now, I have a tendency to interrupt down my purpose by quarter, then month, then week. So, for example, within the first quarter of 2024, I knew I’d have much less freelancing work than common, so I set a decrease purpose for Q1 vs Q2. 

Tips on how to Do It

Normally, plan to make a bit much less within the first few weeks or months of the yr. You’ll progressively invoice extra as you carry on new purchasers, increase your charges, or get higher at utilizing your freelancing hours effectively.

Take into consideration occasions of the yr once you’re prone to have trip, household commitments, or different tasks affecting your freelancing time. For instance, the ultimate quarter ends on Dec eleventh, because it’s my birthday on Dec twelfth, and I wish to preserve work to a minimal for the remainder of the calendar yr.

Right here’s how your yr may break down for a $60,000 earnings purpose:

• Q1 (Jan-Mar): $13,000 (increase earnings)
• Q2 (Apr-Jun): $16,000
• Q3 (Jul-Sep): $18,000
• This fall (Oct-Dec): $13,000 (day without work for Thanksgiving and Christmas)

You’ll be able to then break down this purpose by month, by week, and by day. You don’t have to set this all out initially of the yr (the truth is, I like to recommend you don’t!) As a substitute, see what’s developing week by week and plan accordingly.

Step 4. Observe All Your Freelancing Time

I acquired critical about monitoring my time throughout 2022 – and that is the one change that I imagine made the largest distinction to my earnings that yr.

Monitoring my time confirmed me:

• A few of my work was netting me near $200/hour. Different work was bringing in additional like $120/hour. Realizing that made it simple to know which shopper’s work to prioritize.
• Some duties took longer than I believed they did (like getting ready invoices). Earlier than monitoring, I typically mentally discounted this sort of admin time, forgetting to essentially plan for it in my week.
• I labored fewer hours than I believed, normally simply 15-20 hours per week. 

The act of monitoring my time inspired me to deal with billable duties, like finishing articles for purchasers, relatively than non-billable work, like writing emails. This paid off very well when it comes to my earnings within the medium time period, although now, in 2024, I’m including in additional time on advertising and marketing and networking once more so I can proceed to develop my enterprise.

Tips on how to Do It

There are a great deal of completely different apps that will help you monitor your time. Having experimented with a number of, I discover that Clockify is the very best match for me.

When you don’t need to use an app, you may wish to attempt monitoring your time utilizing a spreadsheet in 15- or 30-minute intervals. 

Step 5. Ringfence Your Working Hours

I’m positive I’m not the one freelancer who finds that once you’re working from residence, and also you don’t have set hours (or a boss), it’s very simple for all kinds of non-work duties to creep into your day.

Whether or not it’s popping to the shop for a lacking ingredient for dinner, switching the laundry to the dryer, or chatting to a good friend on the cellphone, you may discover that your working time is getting interrupted or chopped up.

Some flexibility is not any dangerous factor; the truth is, it would nicely be why you selected to freelance within the first place. However flexibility can turn into an issue in case you’re consistently including only one thing more into your day … that means that you simply’re dropping hours of productive time over the course of every week. 

Tips on how to Do It

You may discover that it helps to:

• Have particular “begin” and “cease” occasions to your freelance day. (My day is book-ended by my youngsters’ begin and finish occasions at college.)
• Have time allotted elsewhere for non-work admin and chores, so these don’t find yourself creeping into your work day. 
• Maintain your work to-dos and your life to-dos in separate to-do lists. That might imply two lists inside one app (or paper planner), otherwise you may even use two completely different apps.

Step 6. Increase Your Charges if You Haven’t Completed So Lately

One of many causes my freelance earnings rose was as a result of a shopper who accounted for a good chunk of my earnings elevated by pau from $0.20/phrase to $0.25/phrase. 

I used to be fortunate I didn’t need to ask in that occasion, however I’ve typically put up my charges and have by no means had any pushback. Final yr, I raised one other shopper’s price from $0.13/phrase to $0.15/phrase.

You may discover these charges are fairly completely different! Don’t be afraid to set completely different charges for various purchasers based mostly on what the work entails. For example, my higher-paying shopper’s work required much more analysis than the lower-paying shopper’s work, and it additionally typically meant tackling requested edits.

Tips on how to Do It

Elevating your charges as a freelancer might be daunting: you is likely to be nervous about dropping shopper. Keep in mind, it is a regular a part of doing enterprise, and your shopper could be very prone to take it fully of their stride.

I discover that it’s easiest to tackle newer purchasers at the next price after which progressively increase the speed for older purchasers to match. I purpose to offer purchasers no less than a full month’s warning that my price will probably be going up.

Step 7. Use Timers to Maintain You Centered and Productive

In addition to monitoring my freelancing time, I additionally use timers to maintain me centered … you might discover this a bit an excessive amount of, nevertheless it’s undoubtedly price a attempt.

I usually set my timer for 15 to half-hour, which helps me keep laser-focused. After the timer goes off, I’ll both set it once more for a similar process, swap to one thing else, or take a break.

Generally, I’ll purpose to finish a sure process (e.g., drafting a piece of an article, writing a top level view) earlier than the time goes off – I undoubtedly discover this helps me pace up and work extra effectively. I additionally use the timer at factors the place I is likely to be combating my focus.

Tips on how to Do It

I take advantage of a bodily timer dice (I at the moment have the TickTime Dice) or set a timer on Alexa. You might use your cellphone … however I discover I simply get distracted within the act of setting the timer if I spot a brand new notification!

When you’re struggling to focus otherwise you’re procrastinating about beginning a giant process, setting a 10-minute timer and promising your self you’ll focus for these 10 minutes will help you get shifting.

Step 8. Attempt Creating and Promoting Digital Merchandise

A small share of my earnings – about 3.5 % in 2021 to 2022 and simply 0.9 % in 2022 to 2023 – was from promoting my very own digital merchandise. 

This wasn’t a very important earnings stream, nevertheless it did lead to an earnings enhance in months the place I wasn’t doing a lot freelancing (I typically run Summer season and Winter gross sales, for example, as that matches with once I’m taking a while off from freelancing).

In 2024, I’m specializing in rising this facet of my enterprise: it’ll give me much more flexibility and a higher incomes potential, plus I like creating my very own merchandise. As a part of this, I’m engaged on rising my e-newsletter listing to construct a bigger viewers of potential prospects.

Tips on how to Do It

There are all types of digital merchandise you can promote: suppose ebooks, e-courses, templates, printables, apps, and extra! You’ll want some sort of on-line platform of your individual – that may very well be an internet site/weblog, Instagram account, Fb group, electronic mail listing, or anyplace which you could promote your merchandise to your followers.

Step 9. Maintain Experimenting With New Strategies to Develop

All of the above steps helped me improve my freelance earnings considerably … however I didn’t need to cease there! Through the 2023-2024 tax yr, I did a few extra issues to proceed to develop, albeit extra progressively. You may need to give these a attempt, too.

Taking On Extra Freelancing Duties

Generally, you may have the ability to up your earnings by taking up an additional process for an present shopper. Certainly one of my freelance writing purchasers requested me if I may format and add weblog articles for him, as this was an actual bottleneck in his course of.

I agreed to do that at an hourly price and created a complete guidelines to observe, so it grew to become a simple, low-energy, and low-stress process. Not solely did this imply extra billable work for every article I wrote, it additionally meant I may write extra articles, as I used to be conserving the pipeline of latest posts flowing.

Tips on how to Do It

Choose a shopper you get pleasure from working with and ask if there are any additional duties you can tackle. Some prospects are:

• Writing briefs for articles so the shopper doesn’t have to prep these
• website positioning optimizing articles in accordance with the shopper’s preferences
• Making ready electronic mail newsletters or social media posts based mostly on an article 

Working With an Accountability Coach

I didn’t fairly meet my earnings purpose for the 2022 calendar yr. In November 2023, I began working with an accountability coach, Blake Stratton. I discovered teaching invaluable to assist me push to fulfill my earnings purpose in 2023: specifically, it helped me do higher at ringfencing my freelancing time and at avoiding distractions.

Tips on how to Do It

Teaching is an excellent solution to put money into your self as you develop what you are promoting – but when one-to-one teaching isn’t inexpensive, you can have a look at peer assist. That may imply becoming a member of a supportive on-line group or working with an accountability buddy, the place you share your targets and mutually assist each other.

Dealing with Elements Outdoors Your Direct Management

All of the above concepts are ones you can replicate or management. However some modifications is likely to be outdoors your direct management. You do nonetheless have some affect over these.

For example, within the 2023 to 2024 tax yr, I landed a brand new higher-paying shopper due to a former colleague who was now in a advertising and marketing/modifying position. You’ll be able to’t pressure one thing like that to occur – the supply got here out of the blue, for me – however you may make it extra seemingly.

For example, you can:

• Sustain with previous contacts and let folks know in case you’re on the lookout for extra work
• Write visitor posts to get your title on the market (significantly in case you can write for blogs that your supreme purchasers are prone to learn)
• Preserve good relationships with editors and purchasers who may move your title on to people who find themselves on the lookout for a author

Your Plan for Rising Your Freelance Writing Earnings Over the Subsequent 12 months

Are you prepared to extend your freelance writing earnings? Let’s run by way of crucial steps from above to get you began.

1. Set your earnings purpose. Intention to be each bold and sensible! Solely you already know what meaning in your circumstances. It is likely to be a 25 % improve, a 50 % improve, or perhaps a 100% improve in your earnings from final yr.
2. Break down your purpose by quarter, then by month, so you already know in case you’re on monitor.
3. Search for the best wins first: ones that don’t require working any additional hours. That might imply:
   1. Bettering your focus, so that you’re getting extra finished in the identical period of time.
   2. Monitoring your time so you’ll be able to see precisely which gigs are price probably the most to you per hour.
   3. Elevating your charges so that you earn more money for a similar quantity of labor.
4. When taking up additional work, begin together with your present purchasers: that is simpler and quicker than trying to find brand-new purchasers. Supply to tackle extra of the identical (e.g., six articles monthly as a substitute of 4), recommend additional duties you can deal with, or ask in the event that they know anybody who wants a author.

You can also make an ideal residing as a contract author. My earnings in 2024 seems to be set to place me throughout the highest 10 % of employees within the UK regardless of working part-time hours – by no means greater than 20 per week – and taking quite a lot of day without work throughout faculty breaks. It took me 16+ years to get to that time, however you can do it a lot quicker utilizing the concepts above. Even simply implementing one or two of them may make an enormous distinction to the place you’re in a yr’s time.