I talk quite a bit about freelance writing being a business and that you need to treat it like one. You find a client, provide your service, invoice for payment, make some money, pay your taxes, and then do it all over again. So let me ask you this: do you get up every morning and hope for the best (“win some, lose some”) or do you have an actual plan for profitability? If you don’t have a plan, you need one. It’s called a business model.
In its simplest definition, a business model is the plan implemented by a company (or person) to generate revenue and make a profit—it’s your plan for making a sustainable living from your writing business. A freelance writing business with a solid process is good, but a freelance writing business with a business model is wa-a-a-a-a-ay better! Why? Because you plan for profitability, not just for work.
Your business model outlines your skills and talents, identifies who your most likely customers or clients will be, and the VALUE you bring to that client. The details of your business model will likely be less than a page long, unless you’ve developed a company with multiple divisions, service offerings and/or partners. Since most freelance writers work solo, the business model will be short and easy to create: Read the rest of this entry