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Funding Your Freelance Writing Business

written by: Joy Lynskey•edited by: Tricia Goss•updated: 11/3/2010

Funding your freelance writing business is as easy as expanding on your own talents and investing in the training and knowledge of others. Learn the best way to utilize your own freelance knowledge to help with funding your small online business.

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    The greatest aspect of funding your freelance writing business is only as limited as your talent and writing8 the time it takes you to complete projects. As a freelance writer you likely have already gained some knowledge on what it takes to win larger projects as well as specific knowledge different of clients seek.

    It is imperative to create a business plan and set aside some of your income from freelance writing projects. Once you begin building it, funding small online business will be as easy as paying writers as they complete projects. This prevents struggling or suffering stress as you wait for your clients to pay. When considering funding your freelance writing business, realize that it is a distinct possibility that others may not have the ethical practices you have. Clients have been known to run off without pay, so be prepared for that possibility.

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    The Basic Requirements

    Before you delve into creating a small online business of your own in the writing niche, you need a reliable internet connection, an up-to-date computer and the willingness to work longer hours then you would as a part-time or even a full-time freelance writer. Additionally, research some of the available methods or software for marketing your small business online.

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    Build on Your Good Name

    Outsourcing clients who are happy with you as their writer may need larger projects. This may be apparent if the client gives you more frequent projects or asks questions such as, "How many articles do you think you can writing3 complete per day?"

    If this occurres often, it may be time to utilize your talents and creativity by building on funding your freelance writing business. As your own writing career becomes more lucrative, improve upon your own portfolios and profiles. Once you have a steady amount of work on your own, strike out from the freelance employee niche and become a freelance employer.

    Make sure that prospective employers understand you may be a part of a writing group or small online business that caters to clients' writing needs.

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    Outsourcing Ethically

    Never mislead a client if you are outsourcing jobs they give you. This is not only unethical but can end up costing you your reputation. If a client has agreed that your work is up to their standards and you turn in work from another writer who did not meet those standards, the client will assume you lack consistency and may decide to terminate your contract. On many freelance work sites, the client would win that disagreement in a moderation process.

    However, once you have clients with whom you have made clear you will have a group of writers on their project, make sure that each writer's work lives up to the standards that you originally provided. This may require that you spend less time writing and a bit more proofreading the work of others. Be financially prepared with a bit of overhead from your own completed assignments in case the proofing or approval process takes a bit longer with larger orders.

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    Outshine the Competition

    The freelance writing world is full of competent writers with whom clients can be fully satisfied. freelancewriting1112 However, this does nothing to promote your freelance writing business. When considering funding your small online business, set a standard for those who work with or for you. Without applying guidelines that demand high quality in the work produced by your freelance writers, you can expect to spend a lot of your own time proofreading and correcting work before sending it on to the clients.

    Funding your freelance writing business will become much easier if you demand high standards from your employees and perhaps even set up a series of rewards for consistently meeting those high standards. This will return your own private working time back to you, which you can turn over to completing the projects that will be funding your freelance writing business.

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    Create an eBook

    It is a proven marketing strategy that creating an ebook can help with not only advertising your business, but providing helpful training, tips and tricks to your employees.

    Once you begin to reap the rewards of the initial funding of your small online business, you will be able to dedicate and invest more time in the business. With enough determination, this pleasing cycle of rewarding steady employment may indeed grow to a scale larger then you imagined.

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    Image Credits

    All images created by Joy Lynskey