What is Your Profit Motive?

As a freelance writer, you’re in business to make money. How much is up to you. You can write a lot and get paid little or write a little and get paid a lot. Chances are you’ll fall somewhere in between. But one thing is for sure, there are only so many hours in a day, so the amount you make may be limited, especially if you’re writing books or articles for magazines.

If you’re writing books, you can only work on one at a time. The amount of time it takes to research and write a book is staggering while the advance you may receive pays for only a fraction of that time. If you’re a good multi-tasker, you may be able to pound out an article or short story or two while working on your book, but most writers put all their energies into such a massive project.

Writing articles actually pays better in the long run. If you have acquired some steady markets, you’ll be writing constantly and the money will pour in regularly.  If you’re just starting out, you may find yourself strapped for cash between assignments.

So what is your profit motivation? Are you content to make a little while pursuing other creative projects—for this you’ll need a working spouse or a rich benefactor? Or do you need to earn a living to help support a family or yourself if you live alone? Many married women writers claim they’re making a living just like any male writer, but what if they weren’t married and couldn’t depend on their husbands’ paycheck to take care of most or all of the bills? While it may be okay to do this in the beginning, after a while your spouse will grow tired of paying the bills by himself.  The opposite it also true for husbands taking up freelance writing while their wives work at a steady job to pay the bills.

Even if you’ve been publishing and making a modest living at writing, you may he guilty of practices that hinder you from making more money. Maximizing your profit requires you to budget time and money carefully. Will you be able to live on say $12,000 a year or less? Perhaps you had better decide if you love your daily Starbucks latte more than writing!

You need to budget everything. Leave nothing to chance. Periodically review your bills to see if you can lower any of them. This will mean not having the latest smart phone or that big-screen Plasma T.V. that your neighbors have. And while you’re at it, better decide to move from the McMansion you live in now to a more modest house.

But budgeting isn’t all about sacrificing the things you love for your writing. It just means that you need to prioritize. List the things that are most important to you. If that cup of Starbucks coffee or that giant SUV that you drive is important to you, then perhaps you better give up on your dreams of becoming a writer, unless you want to write press releases or advertising copy.

As much as you need to learn about writing to improve your skills, so you should learn about the business of business if you expect to keep your profits growing. You’ll be running a small business. Don’t kid yourself into thinking it’s anything else. Talk to other small business owners. What do they do to make sure they stay in business? While your business may be slightly different than theirs, the procedures are the same, even down to what to deduct on your tax return.

Set up daily and monthly schedules and stick to them. Self discipline is very important in freelance writing. It’s not all about spending leisure time at the café reading Twitter messages from your peeps on your smart phone. It’s about working hard and enjoying your time off, knowing that you’ve done the best job you could getting pieces finished and sent in on time.
   
Review your methods periodically. Weed out the bad habits. Are you allowing too many interruptions to devastate your schedule? Are you letting too much time slip by before you get an idea and propose it to editors or your agent? Are you learning from your competition?

To be a successful freelancer, you have to periodically review your assets and liabilities. You  can’t afford to imagine there isn't room for improvement. Above all, freelancer writers don't believe in giving things away for free. If a publisher isn’t willing to pay for your work, pass them by. You can’t pay for groceries with a freebie.

So You’ve Finally Been Published, Now What?

I didn’t start out to be a freelance writer. In fact, I had been studying photojournalism and documentary filmmaking. But as much as I tried, I couldn’t get anywhere with either. Frustrated, I read somewhere that if I wrote a story to go with my photos, I’d have a better chance of selling them. So I started doing that.

Enjoying traveling, I set out on a cross country driving and camping tour. This happened the year after I had spent nine weeks traveling to and from and around Alaska, a trip of 38,000 miles. I had planned to be awayfor six weeks and the thought of eating basic food all that time didn’t appeal to me. So I designed a compact “chuck wagon” unit that fit into the back of my Mazda hatchback. This allowed me to stop at any supermarket and stock up as I traveled, then make almost gourmet meals along the way.

Naturally, I took photos of the unit, then researched the history of chuck wagons of the Old West. I wrote an article about the unit and how it had served me well in my travels and sent it off to Popular Mechanics Magazine. To my surprise, they accepted it.

That was the last I heard of it until one night I was browsing in a magazine kiosk at one of the malls in my area. Something told me to pick up a copy of Popular Mechanics and thumb through it. Low and behold, I discovered my article, complete with my photos and construction diagrams. I got paid the following week. That was exactly 365 days after I sent in the article. If I would have been freelancing full time, I would have starved to death by that time.

I was finally published. Hooray!

What I didn’t realize was that it was dumb luck that brought me this far. I hadn’t researched the markets, nor had I thought about what the readers of the magazine might want or what the editor might need. I just thought of myself and sent my piece off like a rocket into the black emptiness of space.

After publishing that first article, nothing much happened. I kept sending out travel destination pieces one after the other and sometimes received polite rejection letters in return. Often, I received nothing.

It wasn’t until five years later that I finally got smart and started writing and marketing my work the right way. I began researching the markets until I found a travel industry magazine that seemed like a good possibility. The editor gave me a tentative assignment to write an article about the state of Guatemalan tourism from a trip I was going to make there. She loved it and the rest, as they say, is history. From then on, I had a steady stream of assignments—sometimes two or three a week. While the magazine didn’t pay a whole lot, it gave me a steady income and lots of clips.

Those clips lead to other assignments from other editors. Soon I began publishing in other travel industry publications and national travel magazines. And while I eventually wrote on other subjects, travel writing was always the maintstay of my work.