The six-figure salary… the dream of every freelance writer.
But how do you get there? And what’s the difference between a five-figure earner and a six-figure earner?
The six-figure salary… the dream of every freelance writer.
For starters, six-figure earners don’t dream. They have goals, and they take action. These are the most crucial steps in reaching any aspiration.
With that said, let’s take a look at five steps you can start implementing to scale your freelance writing career.
1. Simplify the Numbers
Before you tackle your goal, it’s important that you first understand your goal.
Ok, so you want to make six figures a year. For sake of simplicity, let’s assume that figure is $100,000.
But wrapping your head around such a large number can be slightly overwhelming. It also doesn’t give you a general idea of how much you need to be making on a monthly, weekly, or daily basis.
So let’s start by spreading that figure across 50 weeks. With simple math, we can deduce that we need to make $2,000 a week. A bit better, right?
But we can do better. If we now split that $2,000 across five days, we know that we need to make $400 a day.
Now, this doesn’t mean you need to be making exactly $400 every single day. Some days you’ll make more, and other days you’ll make less.
But at least now, you have a general idea of how much you need to be making daily to reach your six-figure goal. The number is more conceivable and more measurable.
Better phrased, “the journey of a hundred-thousand-dollar salary begins with a single buck.”
2. Increase Your Rates
When you’re first starting out, you’re probably not going to be paid the best rate. Everyone has to start somewhere.
But that doesn’t mean you should fix a price and stick to it. As you gain more experience, as you develop a stronger portfolio, and as you start receiving better testimonials, you have to realize one thing… You are worth MORE.
Some people have been writing for years and still make a hundred bucks an article. Others have spent a year or two and are making double, triple, and quadruple that amount. Never undervalue yourself or sell yourself cheap.
Another way to increase your rate is by specializing in a specific niche. This analogy should explain why…
Suppose you have a serious eye condition. Would you pay $20 and go to a general doctor, or would you pay $100 and go to a specialist?
You’d probably choose the latter, even if it’s more expensive. Why? Because you want someone who specializes in eye treatment. The same principle applies with your freelance writing niche.
3. Have Multiple Sources of Income
Regardless of the amount of money you’d like to make, you should always try to diversify your income streams. That way, if one door closes, you have other sources of income to fall back onto.
So as a freelance writer, what can you do other than writing?
Well, the key is to always be creative and to think outside the box.
For starters, consider your skills and experience. Is there anything you could share, that people would be willing to pay for?
Maybe you’re an expert in the cooking niche. Why not create an eBook or even a video course that teaches people on your subject of expertise? This is an excellent way to make passive income, month after month.
What about coaching or consulting? Why not provide a one on one service to your clients? It’s not unheard of to charge the thousands of dollars for such services.
Also, since you’re writing and writing, why not include affiliate links in some of your posts.
Have you also considered growing an email list? How about providing your subscribers with value, and then offering them services they’d be interested in.
I could go on and on…
These are only some of the ways in which you can create additional, if not passive sources of income. Never hinder yourself or stay static. Always be thinking of new sources of income for your business.
4. Outsource Your Work
Sometimes you’ll have more work than you can handle.
But you only have so many hours in the day…
At that time, you should probably consider outsourcing some of your work.
For example, administrative tasks can take a lot of time while giving you little in return. Why not outsource those tasks, so you can focus on what gets you money?
And outsourcing such tasks is not the only thing you can do. You can get more creative.
You could hire other freelance writers as subcontractors to write for you. You simply pay them a cut of what you’re getting, and you keep the rest for yourself.
As you can see, outsourcing can really take your business to the next level. And even if you’re not at that stage yet, be prepared to think about it for the future.
5. Live Beyond Your Cubicle
A lot of the time, we don’t go out and explore other opportunities. We like to stay in our nice, cozy, comfort zones.
But the truth is, that’s what makes the difference between a five-figure earner, and a six-figure earner.
You must expose yourself. Go out there and network with people. Help them out with their problems. Even pitch them your services. The worst you’ll get is a “no thanks.”
Also, make sure you guest post on other blogs. I cannot emphasize this enough, but guest posting can make or break the career of a new freelance writer.
As you guest post, you are planting the seeds for your future. Make it a habit. The more you guest post, the more exposure you’ll get, and the more clients you’ll land. Period.
Remember that hard work trumps talent. But at the same time, smart work can trump hard work.
Six-figure earners work hard, yet smart. They don’t stay static. They’re always looking for new ways to increase their rates, improve their services, and grow their businesses. Most importantly, they take action, and they never give up. Are you ready to be the next six-figure freelance writer?
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If you want to ensure your success with freelance writing, I encourage you to enroll in Write Your Way to Your First $1k!