Freelance work of all kinds, including writing, is growing exponentially. Companies are down-sizing traditional employees and moving to freelance and contract work to save money.
There is a good reason for hiring freelancers who will work remotely. Many employers say that the talent pool online is better and larger than what they can find locally. Overhead costs are also lower when contract workers telecommute.
Starting a freelance writing business is cheap and easy. And high-quality writers are in demand across many industries. Content creation is only less valuable than web programming and graphic design.
Freelance writing is so appealing to workers because the start up costs are practically nil. However, there are hidden costs and fees that can add up if you aren’t paying attention. Here are three examples.
Registering Domain Names
While registering a single domain is very inexpensive, the cost begins to add up if you have multiple sites.
And when you start to freelance, you end up setting up multiple websites. You might create one site for each type of specialty writing service that you offer, and one more described general services.
Like registering a domain, hosting is cheap for just one site.
But internet marketing and advertising require having lots of websites, which means more hosting costs. In addition, you should have your sites backed up with a secondary hosting service. Smart businesses always have a backup. If one service goes down, you don’t lose your entire income stream.
Diversifying Your Business
Many freelance writers also earn money through affiliate marketing and internet marketing. This makes for a diversified income stream, which helps balance out your earnings during the slow times. However, this means you’ll have to check out a variety of products and services to see if you want to market them. It might also mean buying services that you can turn around into money-makers for yourself.
It is true that you can start earning money as a freelancer with a $0 initial investment. (You need have an Internet connection and a computer, of course.) So don’t worry that you have to have a large amount of money to start your business. But like any business, you have to keep a close eye on your bottom line and make sure you aren’t spending money where you don’t need to be.