Writing for the web can be very lucrative. Starting an online business can lead to other areas that can help you expand. Finding a nice source of passive income is the Holy Grail I work toward. And as soon as I find it, you’ll be the first to know.
Charge Per Word or Per Article
Never charge per hour! Even if you’re an incredibly efficient writer who can turnaround a piece in minutes, consider charging by the word. The quality of the finished product is what matters most. Spending some extra time on it could yield a much better, finished product and a much happier client.
This is the biggest lesson in Lesson 12: Setting Your Rate. In it, Gina describes the importance of setting a rate and sticking to it instead of charging per hour.
For a 500 to a 1,000-word article, Gina recommends charging between 10 and 30 cents per word. For a 500-word piece, she wouldn’t take less than $50.
Having a range to offer can show a prospective client that you’re serious about your job. Bid easier jobs on the lower end and those you’d have to spend time researching on the higher end.
Set Income Goals
They’re more than just motivational tools! If you’ll recall on Day 1, I talked about income goals and how they could be used to motivate you. As you set your rate, remember those goals.
In 30 Days or Less to Freelance Writing Success, Gina talks about her ideal being $100 per hour. I use this as my ideal, too. This is what I’m working toward.
When you’re first starting out, remember to take jobs based on your needs. For example, if you’re in need of samples for your portfolio (like me), be more open to taking free jobs when possible.
Also, think about taking jobs at a discounted rate. By doing so, you might end up making more money than by sticking to your rate. Easier jobs, you can knock out quickly turn into easy money.
Set your income goals and remember them as something to work toward.