How I Flipped the Full-Time Writer Switch

I believe that most anything can be done with a little bit of planning. That includes making the jump to a full time freelance writing career. I became a full-time freelance writer in August and it was very scary at first. For me, the hardest part of the transition was finances - making enough money to cover the bills and have a little money left over.

My decision to freelance full-time wasn’t a hasty one. I’d wanted to do it for awhile, but I always expected to have my cake and eat it to, so to speak. What I mean by that is, I wanted to build my freelance writing salary to the level of fulltime job salary before I made the leap. It could have happened, but I wouldn’t have had a life - or sleep.

Indeed, I had grandiose dreams of becoming self-employed and they didn’t actually come true. Here’s what really happened.

I built a hefty savings. I cut my expenses extremely low and saved as much as I possibly could for six months. During that time, I didn’t many clothes and shoes. I decreased my grocery bill. I cut back on my cable package (I couldn’t bear to cut it off completely). I changed my cell phone provider (switched to the provider most of my friends had so I could take advantage of mobile-to-mobile). I stopped eating out so much.

What you cut from your budget will depend on where you currently spend your money. Look at your spending for a month and use that to help figure out how you can better save. I managed to build a savings that would cover me for six months if I made absolutely no money at all freelancing.

I created my portfolio. I’d had a freelance writing portfolio before but I didn’t really use it because I wasn’t seriously freelancing. As a full-time freelancer, an online portfolio isn’t an option, it’s a necessity. If you don’t already have an online portfolio get one. You’ll need a domain - I purchase mine through GoDaddy.com. You’ll need a host - I prefer HostGator.com. If you’re not a programmer, you’ll probably need a template. Check out Jenn Mattern’s list of places to find web and blog templates.

I decided what services I’d offer and rates I’d charge. My online website isn’t just a porfolio. It also lets potential clients know what I can do for them and how much it will cost. I spent a few weeks doing some business planning and deciding what specific writing services I would offer. I also took some time to figure out what I needed to make to survive and how much I would need to charge clients for that work.

I networked. I never came out and said to fellow freelance writers, “Hey. I’m going to freelance fulltime. Keep me in mind for referrals.” I very well could have. It’s just not my style. Instead, I became more active in the freelance writing world - visiting forums, posting on blogs, and sending ”hello” emails. I really just wanted to be connected with the freelance writers who would soon be my colleagues. I didn’t necessarily have to get any jobs through it, but I have. It just worked out that way.

I read up. Being a freelance writer entails a lot of knowing. You need to know about running a business. You need to know about writing and editing, especially if you specialize in a certain type of writing like press releases or sales letters. You need to know about your niche. Learning is a never-ending process, but I’d be further behind if I didn’t spend time upfront getting to know the business and using that information to plan.

I set a date. After being proposed to, most girls want to set a date. And so I did. I needed a solid day to work toward and I picked one.

I made a plan. I took an 11×11 piece of cardstock and wrote down my idea of a successful freelance writing career. Then I wrote down what I would do to make it successful - how I would market myself, what I would charge, how many clients I would pick up. I defined my target client. For my blogs, I defined my target audience and how I would monetize those blogs. A freelance plan doesn’t have to be anything fancy. In it’s simplest form, it’s what you want to do and how you plan to get there.

I made a backup plan. It’s just not good sense - business sense or common sense - to make a decision without having a Plan B. Even if Plan B is to become a bum and sleep on the streets, at least you’ve got one. I updated my resume and came up with a list of companies I’d apply to if the freelance writing thing didn’t work out.

I came up with an exit point. I defined an exit point at which I would leave the freelance writing business. I based my exit point on financials because they’re concrete. I couldn’t base the decision on anything subjective because I can argue myself either way. Numbers won’t lie. I decided I would start looking for a new job once my savings and project receivables got down to a certain level. If the job market was better, I might let my savings nearly deplete. But since I know getting a job would take some time, I set the threshold kind of high. You might set some other criteria. The key is to have a point at which you say, “Ok. This isn’t working.”

You can tell from this list that becoming a full-time freelance writer isn’t easy. Nor is a decision you can take lightly. Making the transition will go a lot smoother if you plan out as many of the details as possible. Take advantage of the resources you have - the freelance writers you “know,” other entrepreneurs, books, websites, blogs, magazines. There’s a wealth of information out there to help you achieve your dream.