After you start freelance writing, you’ll likely hit a point where you’re writing as much as you can (or want to). Then, you wonder, “Now what?” You can keep doing the same thing — or, if you want to earn more, you can scale your freelance writing business.
Many people go the agency route, but that’s not your only option and it’s not for everyone. Here’s a comprehensive look at how to scale your freelance writing business (with an infographic to break it down). Plus, hear insights from other experienced freelancers on the topic.
What does it mean to scale your freelance writing business?
Scaling means you are increasing your revenue faster than your costs. However, when you grow, it doesn’t necessarily mean you’re scaling.
For example, let’s say you landed a new contract writing blogs for $3,000 per month. If you hire a writer who charges $3,000, you are growing but not scaling. On the other hand, if your writer only charges $2,000, then you are scaling because you increased your net profit by $1,000.
If you don’t outsource, think of the costs to hire yourself (time and money). For example, if you make an average of $350 per blog, it takes you approximately six hours to write each one, and you can write five per week, you’re at $1,750 per week and about $58 per hour.
If you continue to work at this rate, you will stay at the same level. However, if you can earn more while working the same amount of hours (or fewer hours), you are scaling.
So how do you scale as a freelance writer at max capacity?
Scaling to a content agency
A popular approach is to build a content agency so writers write for you. This path can increase your profits as you’re no longer limited to what you can do as an individual. However, your daily activities are going to change.
You will become a marketer, salesperson, manager, editor, owner, and the list goes on. Eventually, you can build a team of people fulfilling all the roles required while you’re steering the ship. But what will you need to be successful?
- Reliable demand gen system: A solid system to generate demand for your agency’s services (aka you need to have work for everyone to do). Freelance work can ebb and flow. When you’ve built a team and want them to be committed and dedicated, it’s important that you have steady work for them on an ongoing basis.
- Team leader: You need the skills and systems to bring the right people together. You also need to create an environment where writers can produce the quality of work and service required for your clients.
- Pricing strategy: You’ll need to strategize your pricing so that you can retain the talent you need while growing your net revenue.
Scaling into a content agency can certainly increase your profits but it’s an entirely different career than that of a writer and should be considered carefully.
Here’s what some industry experts had to say…
“Money was great, but I ended up spending all my time hiring, managing, and editing, and it just wasn’t nearly as fulfilling (as writing). I also didn’t like the pressure of having other people’s livelihoods on my mind. It was causing too much anxiety for me, and it kept me from making the types of big, sudden, risky moves that I thrive on. My own future is high enough stakes for me.”
Jacob McMillen, Copywriter and Content Strategist
“Scaling is a whole different ballgame… and it changes what you do as a founder all. the. time. I’m super lucky that I LIKE the process of scaling. Every person who is “just a writer” or “just a marketer” should take the decision to build (or not!) very seriously.”
Jackie Hermes, a SaaS Marketer turned CEO
So what if you don’t want to build an agency?
Scaling as a freelance writer
If you want to keep writing and working as a solo writer, don’t fret. You have options as well.
Optimizing your offerings
First, take a look at your skill level and offerings to see where you can improve. Divya Agrawal, Freelance Tech Writer, recommends,
- “Aiming for bigger contracts can be one way to go, meaning moving toward larger retainer contracts and shifting away from small, one-off work. You can set floor rates for contracts as in I only work if the contract is $3k or up. Less admin work as you need fewer clients…and more profit.
- Another way can be to aim for projects that pay more. As in case studies, white papers, reports, high-tech writing, etc. Shift away from blog posts that typically pay less.
- And a third way can be to offer packages that don’t just offer content. Upskill into other areas such as landing page designing, optimization, UX writing, setting up funnels, tracking metrics etc, so that you can offer not just writing as a service but entire packages that take off something significant from the client’s plate.”
Love this advice. Divya nailed it. Personally, I shifted from writing just content to writing copy for brand identity packages, whitepapers, and core website pages (delivered with wireframes). These projects require a wider skill set, provide more value to companies, and come with higher price tags.
Building passive income
Along with optimizing what you offer, you can also move into creating digital products that you can sell to more than one client. For example, ebooks, guides, and courses. Many writers will create personal brands and offer free content like blogs and email newsletters. Then, they will have more in-depth content for sale. Additionally, you can monetize a blog through options like affiliate marketing and ads.
By packaging up and selling your writing, you can create passive income streams so you don’t always have to trade time for money from one buyer.
Find the right path to scale your freelance writing business
People often ask me if I’m going to scale to an agency or be “just a writer.” I have gone down the path of building an agency and it wasn’t really my thing. I missed the writing. The good news? There are many ways to scale as a solo writer. Further, some people do both!
There is no right path for everyone. It depends on what you want to do, what you love to do, and your goals for the future. Hopefully, this infographic and article help you better understand the different paths available.
Have you tried different ways of scaling your business? Would love to hear about your experience below.
Until next time!
Jessica
