You might decide to move from being an in-house writer to freelancing for several reasons. Maybe you feel you can earn more working for yourself, or you simply don’t want to have a boss. And in some instances, you may wish to improve your work-life balance.
When you’ve been writing for a couple of years, you might find yourself stagnating. If that happens, you may want to consider scaling your business and regaining that spark. You can scale your freelance writing business in several ways, and this article will give you eight potential starting points.
1. Raise Your Rates
The easiest way to free up some extra time—and generate additional income—is to look at your existing clients. If you’ve worked with some of them for an extended period, you will probably want to consider your rates.
Explain your reasons for increasing your rates. You might feel like you deserve the raise and may also need to because of economic factors like inflation. While you might not be able to achieve an increase with all of your clients, some of them will likely agree.
When raising your rates, try not to make it too dramatic. Clients might be willing to pay a little extra for projects, but jumping too high could shock them and cause them to leave.
2. Look for New Clients
If you were unsuccessful in negotiating a price increase with your clients or want to increase your workload, looking for new clients is a good idea. Before you do so, however, you should know the minimum rate you’re willing to accept for new projects you take on.
When you begin looking for clients, you can search in several places. You might think you’re better off looking away from job boards, but you can find hidden gems if you know where to look.
You can also send emails pitching your services and spend a little time growing your network. If you’re intentional about how you find new clients, you’ll eventually get a couple of new ones that you enjoy working with.
3. Create an Online Course
One of the best ways to scale your freelance business is by separating your time from the money you earn. Once you’ve built enough expertise, you might want to consider making an online course.
You must ask yourself several questions before creating an online course. First and foremost, you must ensure that you’re making one for the right reasons; people can see right through you if you only have profits in mind.
When creating an online course, you’ll also need to verify whether the market wants what you’re trying to sell. Doing so will require a high level of research, and you should also ask potential customers upfront what they’re looking for. You can use several platforms to create an online course, such as Kajabi and Skillshare.
4. Hire Employees
If you want to free up more time or have specific tasks you dislike working on, you should consider hiring employees. You can onboard people to perform several actions, such as helping you manage your emails. And if you dislike filing your taxes, hiring an accountant is also a wise idea.
Thanks to the rise in remote work, you can hire talent from across the globe. You should ensure you know what you’re looking for in terms of not just skills, but also personality. Besides being competent, you also want to ensure that your hires are easy to work with. If you’re ready to hire employees, you can post ads on several job boards. Popular places to look include Fiverr.
5. Start a YouTube Channel
Freelancing is an excellent way to learn more about yourself and gain expertise in your craft. Over a few years, you will have gained skills that others looking to start will want to know. One of the best ways to share your knowledge with others is by starting a YouTube channel.
To begin a YouTube channel, you don’t need to be an expert videographer. Realistically, you can get started with your smartphone; most devices have good enough image quality these days. Buying a tripod is also a good idea, as is getting a decent microphone.
Other than that, though, you can buy the rest later. When starting a YouTube channel, you should consider experimenting in your early days. Over time, you’ll find a formula that works for you.
6. Begin a Podcast
Starting a podcast is also a feasible option if you don’t want your face to appear on camera. Podcasts are an ideal way to produce long-form content that people can consume on the go, and the financial entry point is lower than if you were to begin a YouTube channel.
When starting a podcast, you might want to begin sharing your thoughts on various topics as a one-man band. And as you grow over time, you can consider bringing on guests or even co-hosting it.
Like starting a YouTube channel, experimenting and having fun is the most important thing in your early stages. You will also want to hone your skills and figure out how you can entertain your audience. You can use several platforms to host your podcasts, such as Anchor and Spreaker.
7. Launch a Software Product for Other Freelancers
If you fancy flexing your entrepreneurial muscles, you should think about launching a software-as-a-service (SaaS) platform that other freelancers can use. You know the main pain points that people in your industry suffer, so why not try and address those?
You can launch all kinds of software for freelancers. Examples include accounting platforms, client management software, and tools for tracking blog post performance.
Needless to say, you can expect a lot of competition if you launch a software product. It’s worth looking at what others are doing and seeing where you can fill gaps. Before you fully roll out your product, you should also test it with a smaller selection of customers.
8. Become an Agency
You can also consider starting an agency if you want to grow your freelance writing business. You have several options in this respect; you can work with other writers, for example. Alternatively, you can expand your sphere of influence into search engine optimization (SEO) or other sectors.
When becoming an agency, you will need to think of a name and brand that is separate from you. Once you’ve done that, you can hire some people to help. If you start an agency, you might want to pitch services to your existing clients. From there, ask for referrals and try to focus more on inbound marketing.
Scale Up Your Freelance Business and Have Fun in the Process
Freelance writing is rewarding, but you might find yourself bored after a while. If that happens, you can always try to challenge yourself and find new ways to grow your business. You can, of course, stick with the services work—but focusing on products is also a wise idea.
You might find that some of these tips work for you, whereas others may not. Try multiple versions to see which ones are an ideal choice for you.