Working as a freelance writer is incredibly fun. You get to enjoy the flexibility that comes with being in control of your own schedule. Working from home is also another perk, and it gets even better if you’re able to do it as you travel across the world.
If you’re like me, freelancing has enabled you to hit your financial goals, save money, put something aside for taxes, and learn a thing or two about running your own business.
On the other hand, working as a freelance writer often means spending a lot of time looking for new clients, handling admin responsibilities, and preparing invoices. You’re also paid by the hour or project, meaning you have to work continuously to make ends meet. This could a mean having less time to take care of emergencies and other day-to-day activities.
Why you should consider business ideas beyond freelancing
There are two reasons why you should consider growing beyond freelance writing. The first reason comes from your desire to earn more through other business ventures. The second is something that you might not be aware of – you’re already qualified to do so.
You probably want more
Plenty of us are totally fine with how things are. But, for some of us, it doesn’t stop with just being a freelance writer. We would like to build wealth and become one of those internet entrepreneurs that make six figures on autopilot from passive income.
This would allow us to build wealth without having to spend each and every hour on active-income work. The extra time could be used to enjoy and pursue other things that are of interest to us. It would also eliminate all the anxiety and stress that accompany an uncertain future.
This is possible because freelancing can be used as a medium to being a full entrepreneur. The ability to fix your own schedule allows you to free up some time for other activities. If you crave more, this time can be used to work on other projects.
You might wonder what else is there for you to do apart from freelance writing. There’s a lot, actually and if you feel unqualified to venture into anything else, you may not have been paying much attention to your journey as a successful freelance writer.
You’re already qualified!
Freelancing can be hard. If you’ve worked alone most of your journey, you know how tough things can get. Some of the struggles you might relate to include losing clients, failing to hit your financial goals, having to face rejection, dealing with difficult clients, and losing motivation.
What such experiences instill in you are the skills needed to be a successful and gritty entrepreneur. For some, you hardly even notice as you acquire them. For example, learning how to reach out to prospects, how to land new clients, how to budget, how to build listings, and how to organize your work.
A great sense of self-discipline also grows inside of you. You are your own watchdog. Despite there being no one to breathe fire on you, you know that you have clients and deadlines. This often calls for self-motivation and better work habits – things you learn on your own.
What you need to realize is that you’re more qualified to start working on something else compared to someone who’s fresh from a full-time job. If what you wish to venture into falls in line with your freelancing, you may have already established an audience and potential clients. Some of the people who will buy your product or service will have heard about you from a blog you worked on in the past or from an article accredited to you.
Let’s get on with the ideas already!
As a freelance writer, here are a few business ideas that you can consider venturing into.
Build a team
Sometimes, we may have too many clients to handle on our own. As a solo freelancer, there are only so many hours that you can put in a day. This may call for having a team of trusted writers to whom you can extend writing assignments.
It would include your friends who are also freelance writers or anyone who’s qualified. Your cut would comprise a small commission earned from what you pay them. With time, you could grow the team depending on the number of clients and amount of work available.
Write and sell a book
If you’re a niche writer, writing a book is a great way to express your thoughts and at the same time teach. Freelance writers are no strangers to communicating with people through written content. Writing books presents a huge opportunity to inspire, motivate, and tell stories while making money at the same time. However, consider writing out of genuine passion as opposed to focusing on its rewards.
Teach what you’ve learnt as a freelance writer
If you’ve gained quite the experience as a freelance writer, you may feel that it’s only fair to share the information with those trying to break into freelance writing. This could be through an online course, downloadable audio, Ebook, podcast, or tutorial.
Creating content that meets people’s needs is a great way to ensure that your training/course becomes successful. Find out what new writers are looking to learn and combine it with your experience and knowledge. Learn a thing or two about creating and marketing material that leads to engagement and learning.
GigLoft rewards content creators who want to contribute their awesome insights to our curriculum! Reach out to email@example.com if you are interested in distributing your content (under your own name/brand) to GigLoft students.
Blogs provide one of the best platforms to build a reputation and market your content. While blogging might take a while before making some good money, it’s a great way to supplement your income as a freelance writer. If you have time to spare, consider producing content for your blog and not only for your clients. Make it authentic, focused, engaging, and unique.
Promote other people’s products
You’re probably too busy working as a freelance writer to spare any time for creating new products. If this is you, selling other people’s products for a commission is a great way to supplement your income. Consider diving into affiliate programs offered by various companies in different industries.
Ensure that the products you promote offer value for people’s money. They could be items you’ve used and loved. Stay clear from high-pressure techniques, questionable sales practices, and poor quality products.
In conclusion: venturing beyond solo freelance
It’s important to always remember that running another business brings extra responsibilities to your plate. It also provides new learning opportunities in areas such as marketing, hiring and firing, leadership, and team management. Consider hiring a junior or finding a co-founder for your new venture if you feel overwhelmed. It will not only provide complementary skills but also help with moral support.