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Writer's pictureCarlett Spike

The Business of Freelancing


When I was younger, I thought being a writer was just that. You could sit down and muse about whatever topics were on your mind and transform that into sophisticated prose and high-level analysis that others would want to read. Even as I got older and my interests leaned toward journalism, I thought it boiled down to ideas, interviewing subjects, and writing.


In reality the romanticized writing part of the job is truly just a small sliver of what it takes to be a freelance writer. As is the case with similar endeavors, once you start freelancing you also start your own business. With that comes business responsibilities and it’s a side of the process that is not talked about as much. Believe me, I went to the best journalism school in the world and there wasn’t much talk about the business side of freelancing — but it’s important!

There’s a lot we could talk about here, but I’ll focus on a few key aspects of the business side. In addition to your desire to be a writer, here are some of the other factors freelancers need to consider to do business:

Contracts

If you pitch to write for various publications, most will send you a contract. It's a contractual agreement between you and the publication and typically includes specifics such as how long it will take to get paid, who owns the created content, etc. Whenever you get a contract, read it. Read all of it so you know what you are signing up for. If there is anything in a contract that you do not agree with, consider talking to the editor about changing it. If it cannot be changed, you then have a choice to either work with the publication or not. Obviously, these decisions are not so black and white. There may be tons or reasons why you decide to agree to sign one contract over another, but just make sure you think it through and are at peace with whatever you decide.

In some cases, an editor may not send a contract. I’ve worked with some publications where I trusted the editor and we had a good relationship so there were no issues. That said, if an issue ever arises, emails between you and the editor are legally binding. So, protect yourself by making sure the emails clearly state the expectations/work required, payment amount, and deadline you and the editor agreed to.

If you are a freelancer who offers services such as copywriting, content creation, etc., you need to create your own contract. Use the internet and do some research to figure out what it should say. Even if it is basic, you should have something in writing to protect everyone involved. Writer Jyssica Schwartz blogged about this topic on Medium and shared her contract for others to edit and use.

Rates/Negotiating

If you hang out in freelance circles, you’ve probably heard phrases like know your worth and ask for more, but when you’re in the moment it can be intimidating. We’ve all been there, you are so excited when a pitch is accepted, that you are willing to say yes to anything. You know your own situation and this is another case where you should think through what rates work for you before going after assignments. Do some research to see what rates publications are typically paying or have paid others before you decide to reach out. WhoPaysWriters.com is a good place to start.

Whenever you do get a rate offer from an editor, stop and think about it before you respond. One way some freelancers determine a good rate is by estimating how long the assignment will take (how much reporting, research, interviews and how long will it take to write the agreed upon word count?) and calculating the per hour dollar amount to use as a baseline. Once you have that you can adjust accordingly. For example, you may be okay with a lower rate for a big publication because you want the clicks and to get your name out there. Again, you decide.

Getting back to negotiating, you do not have to accept the first rate an editor gives. It doesn’t hurt to ask if the editor is open to negotiating. I cannot tell you how many times an editor said yes just because I asked. For example, I wrote for one publication that normally pays all freelancers $75 per story. I asked if the rate could be negotiated and the editor offered me $100 per story. Look how that pans out overtime -- If I wrote five stories for this publication I walk away with $500 dollars instead of $375. Remember, it doesn’t hurt to ask.

Invoices/Payment

Yes, you should enjoy what you do, but you also probably freelance to make money. For most publications you need an invoice to get that money. Keep it simple and include the publication, name of the article, and the amount. Here’s an example of the invoice I use. I also keep a spreadsheet on Google Docs to keep track of when I sent out an invoice and received payment. Unfortunately, many freelancers have to deal with late payments. I’ve waited nearly six months for a payment before. If you talk to freelancers who have been in the game for some time, they have horror stories to share around payment issues. Create a spreadsheet to help you keep track of when you submitted an invoice and when you expect the payment to arrive (some publications pay a certain number of days after the article is published). Follow up, follow up, follow up if your money is missing!

Organization

There’s a lot of moving parts to keep track of once you get to a place where you are working on different stories for different publications. Organization helps a lot! For example, I use Google Docs to track the pitches I send to various publications and note if the pitch was accepted or rejected. This is especially useful because it makes it easier to shop an idea around when you can clearly see where you already pitched it. On this sheet, I also note the day the pitch was sent out, so I can see when to send a follow up email if an editor has yet to respond. Use calendars, workflow management systems, or whatever else you’d like to keep things documented clearly and organized. You’ll thank yourself later for it.


Taxes and Expenses

The topic of taxes and expenses could be a separate article, so I’ll keep this brief. Related to the last point about organization, keeping track of money and contracts will help you at tax time because you will know where to find all the documents you need. As a freelancer, you need to pay taxes on the money you make because it is not taken out beforehand. I am not a tax expert and don’t do my own taxes, but as a very general rule of thumb, many freelancers suggest setting aside 25 percent of what you make to pay toward taxes. You will also want to keep track of any expenses and business purchases you make because they can be written off. You may be surprised at what can be expensed such as your computer, phone bills, and travel fees. Here are some other ideas from Due.com on deductions freelancers can claim.


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