For a couple of weeks now, the discussion has been going back and forth between Men with Pens and Freelance Parent about the costs of starting up a freelance writing business. One side argues that you can start up a freelance writing business on the cheap, with a couple hundred dollars or less. The other side argues that a freelance writing business has the same kinds of startup costs that any other small business has - and that you’re going to put out ten times that amount or more.
I’d encourage you to follow those debate threads. Each side makes some good points, to be sure. If you pin me down and force me to offer my opinion, I’ll say that any small business, whether they’re freelance writing, plumbing or basket-weaving, can benefit from a significant cash investment in the beginning.
Now, for my part, I started out with no investment. I fell into the freelance writing business quite by accident. I put nothing but time into the business in the beginning, and I did just fine.
(Of course, that’s part of it, isn’t it? If you don’t have cash, you need to have time. Ideally, you’ll have both.)
However, it wasn’t until later on in my freelance writing business, when I was able to invest some money in some tools of the trade, some new office equipment and some marketing that my business really took off. It also helped that I found a mentor who’d been where I had been who could teach me a thing or two.
If I were to start my freelance business today, I’d spend some money. I’d make sure I had the right computer and the right work environment. I’d hire a writing coach for at least three months, and I’d buy Freelance Rockstar Freelancer and Write for the Web. I’d spend some money on marketing. If I wanted to make money blogging, I’d get into Blog Mastermind. I’d probably even hire a Virtual Assistant to help me keep organized.
So, what are the real costs of starting a freelance writing business? I can honestly say I’d put them somewhere between $0 and $20,000. Am I trying to play both sides of the fence here? I suppose I am.
The real cost of starting a freelance writing business is this: It is the amount of capital you can raise, spent in the most efficient way possible. For every dollar you can’t spend, you have to make it up in blood, sweat and tears.
Starting capital doesn’t guarantee your success, just like the lack of capital doesn’t guarantee your failure. But having some startup cash for your freelance writing business does increase your odds of success.
Follow The Journey: Other Posts In This Series
How To Start Your Freelance Writing Business: Introduction
How To Start Your Freelance Writing Business: Education
How To Start Your Freelance Writing Business: Honing Your Craft
How To Start Your Freelance Writing Business: Planning
How To Start Your Freelance Writing Business: Building Your Portfolio
How To Start Your Freelance Writing Business: Finding Work
How To Start Your Freelance Writing Business: A Jump-Start
How to Start Your Freelance Writing Business: The Costs
photo credit: (UB) Sean R
11 comments ↓
Good points.
When I started out as a freelance writer, like you, I didn’t have any money to invest and my first couple of commissions paid for a new PC and printer! If I was starting out again, I’d put some money in first - it would be so much less stressful, but you can do it either way.
Thanks, I think. I’ve realized that I’ll need to put out the blood, sweat, and tears because I certainly don’t have the cash. But you gave a very fair assessment of what it takes to get started.
Marys last blog post..How Do I Start a Freelance Writing Career?
I’m in the cashless camp. I think I had £2,000 saved just to get me by for a couple months. But I already had a laptop, internet connection, and will of STEEL.
Zoe, wherever did you land this high-paying gigs?!
Monicas last blog post..Twitter: How Embracing The Mundane Could Be A Boon To Your Writing Business
I started my freelance writing career with no investment AND on dial up. As I began to make money, I invested in my business. Eventually I built up enough income to upgrade to cable (that was a HAPPY day).
It is possible to start up a business without any investment other than sweat equity!
Kathryns last blog post..Freelance Writers Need to Procrastinate
Hey Monica - it was a long journey!
I was lucky in that my first couple of commissions were well paid (I’ve since realised how well paid) and I got them through pitching and networking. I did a lot of work talking to editors, researching markets etc. before I got going.
Oh, and everything I bought was second hand btw
[...] How to Start Your Freelance Writing Business: The Costs. [...]
@Kathryn - Dial up? You are hard core.
@Zoe - I think you’ve summed up the major points about getting started. “Pitching and networking”, “researching markets”, “talking to editors”, and (I’m reading between the lines here), it takes a lot of time and effort before you get going.
Mmm, having set up my own e-commerce business last year, and having done some basic consulting with others, I can say that the range is true for most online businesses. Admitedly, if it’s online (i.e. needing a website); you’re likely looking at a few more dollars for the domain fee but not much.
Bob,
I think you came to the same conclusion that both we and the Pen Men came to: you can start a freelance business on the cheap, but it’s going to be a lot harder.
So, what are the real costs of starting a freelance writing business? I can honestly say I’d put them somewhere between $0 and $20,000.
Exactly!
[...] The Costs at Writing Journey [...]
I definitely started on the cheap. An old computer, FREE dial-up. Then the CPU died and I had to grab a new one spur of the moment to get a project to a client.
Good times. If you have a computer and Internet access, there should be no start-up fees. That is, unless you insist on printing off your stories to edit them.
Leave a Comment