Whether you’re an expert writer planning to dip your toes in the world of freelance, or a newcomer wanting to explore writing as a profitable side hustle, now is a great time to pursue both these ideas. This is represented in research conducted by Elna Cain, which states that 42% of freelance writers earn up to $5000/month. In this article by The Writer’s Workout, we'll explore all the important steps aspiring entrepreneurs should take, from choosing a niche to establishing an LLC, for creating a successful writing business.
Find a Niche
The first step towards establishing your writing business will be to hone in on a niche. A niche is a specialized segment of customers who have a demand for your services. Having a niche allows you to channel time, resources, and efforts toward converting interested clients rather than spreading yourself thin trying to cater your services to a broad spectrum of customers.
Here are the steps to follow for selecting a niche:
Shortlist services you are skilled in and interested in selling, such as blog writing, ebooks, website content, etc.
Conduct market research to ascertain the demand for these services. The beauty of freelancing is that you are not restricted to your physical location. Hence you can choose to target customers in neighboring states or even other countries who have a high demand for the services you’re offering
Become a member of freelance writing communities on LinkedIn, Facebook, Reddit, and other platforms. Connect with like-minded individuals to learn more about their niche(s), best practices to find clients, and tips on getting started.
Create Multiple Avenues for Client Outreach
One of the main components for success as a writing business will be to create a consistent pipeline of clients, for which you’ll need to develop numerous avenues for client outreach through the following ways:
Create a portfolio website showcasing your best work and a contact form that clients can use to reach you.
Register profiles on major freelance marketplaces such as Upwork, Fiverr, Guru, etc., and reach out to at least 10 clients who have posted jobs on the platform.
Use LinkedIn to find local business owners or bigger corporations looking to hire writers for long-term project-based contracts.
Attend in-person and digital networking events to connect with industry leaders, business owners, and fellow writers and make connections through which you can receive referrals.
Market Your Business
Along with client outreach, creating a strong brand presence is important for securing clients and developing credibility regarding your business. This can be achieved as follows:
Be Active on Social Media: Create social media accounts under your brand name and design content buckets such as - educational posts, live writing sessions, interviews with industry experts, and more, using which you can consistently post content.
Print Business Cards: During in-person networking events, there is no better way to make a strong impression than a business card. After a fruitful conversation, a business card is a great way to maintain a connection with the prospect and provide them with all the information needed to connect with you in the coming days. Use this tool to design free business cards!
Establish an LLC
As a business owner, you can personally be held liable for business-related liabilities. But, the extent of these liabilities can be reduced by establishing a Limited Liability Company (LLC). With an LLC, your business will be considered a separate legal entity, protecting your personal assets and finances from business-related liens or liabilities, as reported by Shopify.
Given that LLC rules differ by state, it’s best to delegate the responsibility to a formation service that will handle the legwork of completing registration documents, filing requirements, and tax returns. Extend the practice of delegation to other parts of the business as well. For instance, once your business grows, consider hiring a virtual assistant (VA) to screen emails and schedule client consultations.
Choosing your niche will set the tone for finding the right prospects and converting them into paying clients. When it comes to developing credibility and distinguishing yourself from competitors, developing a strong online presence and using business cards will be key.
About the Author: Emma Grace Brown lives her life by her rules; and it works! When she's not snuggling puppies, Emma promotes female empowerment through her website. Her mission is to help those who live with self-doubt to realize they don't have to mold themselves to conventionality.