Being Edited:

Some writers who decide to start freelancing as a business don’t always know what they need to determine when creating their rates. There are tons of sites, blogs and even fellow freelancers that could give you information regarding the formula in creating your fees.

It’s not easy however, keep in mind your overhead, time, experience and education.  For instance, if you’re new to the game of course you wouldn’t charge as much as someone who’s been doing it for 20 years.  It’s about knowing your market, region and craft and worth. 

I remember when I started out I did free projects to gain experience and build a portfolio.  Soon after I began charging a small fee (keep in mind this isn’t my livlihood —yet) and as I gained more experience word of mouth brought me more clients and MORE experience.  Therefore I was gradually able to raise my rates to accomodate experience.

However, I was still undercharging. When you undercharge you may feel like you’ve been taken advantage of and honestly in this business even your closest friend will take a lesser rate than ‘correct’ your mishap.   That’s not their fault, it’s yours.  So definitely know what your time is worth and what type of barter arrangements you’re willing to accept, as well as if you’ll discounts for family, friends and repeat business. 

Shocked? Bug-eyed? Well you ARE running a business.  Knowing how to handle your  accounting, admin and marketing half of what running a business is about.  I think alot of writers jump think I’ll freelance for a living but aren’t prepared for all that it takes to run a business, because technically, whether you’re doing a 9 to 5, acting, singing, writing or painting part or full time and getting paid for those services you are technically a business!

Another thing you have to know is the difference between billable and actual work hours.  If you’re writing full time, you’re most likely not going to succeed in charging billable hours to match a 40 hour work week.   As for myself, I have local, independent, corporate, national and non-profit rates for certain services and I also have an hourly rate (which I rarely use, as I’m prone to do per project basis)

I also have rush delivery fees and day rates.  So you have to know what works best for you and what type of admin work you can keep up with.  I’ve switched my schedule to my online calendar and it allows me to truly see where I spend my time (school, work my writing) and how to better garner time management. I also have created a personal and business budget so I can keep track of where the money goes!  LOL

Of course setting your rates is the tip of the iceberg and the beginning of a new journey. And you see how much you have to think about!  Well here’s a link to tell you more.  Good luck!

How to Set your Freelance Writing Rates.

kandie

Ah… so you finally realized that being a gifted writer is not enough to ‘write that amazing’ (future) best selling novel.  Yeah honey, a big dose of REALITY CHECK!  But that’s cool.  It’s a learning process.  It’s like just because you’re a great writer, people expect you to NEVER make spelling or grammatiKal (whoops, I mean grammatical) errors.  LOL 

So now you’re  working on your masterpiece? Your little baby, well one thing I’ve learned it’s more than just about your natural God-given talent. It’s about discipline, learning more about your craft, finding a mentor who has done what you hope to do and more discipline.   Then round that off with self-promotion, creating positive & influential connections in your field yet being open to connection not in your field b/c you never know where they can lead.

Alot to take in, but it’s part of being an artist & sharing your gift to the world.  While I was surfing the net I came across a great site with lots of information from likeminded folks on how to develop your character, your plot, how to get your readers connected to the pro & antogonists. So check it out when you have some time. Developing The Author In YOU!

This post, catered to ‘fiction writers’.

kd