Take 2: Thinking About Being a Self-Employed Writer?

This is a reworked post from almost exactly a year ago. The question is evergreen and the conversations it started were quite helpful then, as I think they will be now.

If you’re on the fence about making the leap to self-employed writer and how to make a living, perhaps something here will help you along.

My (former) home office

About me: I only have myself to rely on for income. There is no alimony or child support or money from any non-client coming to me. I do not have any children to feed or any crazy-ridiculous expenses to worry about such as music lessons, sports teams, camp getaways, college tuition, etc.

I usually hear one of these two replies when people learn I’m an independent writer/editor: “Hey, that’s fabulous that you have no one but yourself to worry about! No money worries at all!” or “Oh, wow, if something happens to you, you might be up the proverbial river without the proverbial paddle. Does’t that stress you out?”

I don’t have a formula, but here’s what there is to know about how I am now 11+ years into being my own boss:

• When I decided to leave the corporate world, I gave myself 1 year to get my finances in order and find affordable health insurance. It was/is important to me to have at least 4 months of savings to cover bills.
• At the time I quit, I downsized (sold my house) and have been renting ever since, which is less responsibility and has more predictable expenses (to me), so I can save money as well as pay myself.
• I am frugal – this means I minimize my bills, but I’m not lacking. I have Internet, a smartphone, use AC, and buy too much food when I go to the grocery store; I don’t work by candlelight to save on my electric bill or live in a library for free WiFi. 🙂 I always pay my credit card in full each month to avoid finance charges.
• I maintain my older vehicle instead of having car payments.
• I network to meet other solopreneurs and learn how they thrive in their business and try tips I learn.
• I use LinkedIn to find contract opportunities.
• I only take on jobs that interest me, which keeps me happy and lets me give my best to the client.
• I absolutely love what I do and (literally) say “Thank you” out loud every day to the cosmos.

I don’t know of a magic bullet for self-employment success, but I know (1)  it’s important to love what you do and that you have to work at it. If you want it to work and approach it honestly, I believe you’re more than 75% to your goal.

And (2) having money readily available if monthly income checks don’t arrive when planned is quite helpful at keeping stress about money at under control.

What is your tip to someone thinking about becoming self-employed?

Or, what was your final hurdle before jumping into self-employment?

Lisa J. Jackson is an independent writer and editor who enjoys working with businesses of all sizes. She loves researching topics, interviewing experts, and helping companies tell their stories. You can connect with her on Twitter, Facebook, and LinkedIn.

Thinking About Being a Self-Employed Writer?

I get asked quite often how I make a living as a professional writer and editor. Maybe something here will strike a chord with you if you are on the fence about being self-employed.

My home office

To know up front: I only have myself to rely on. There isn’t any alimony or child support or income from anyone coming to me — other than what I earn myself. I also do not have any children to feed or any crazy-ridiculous expenses to worry about such as sports teams, music lessons, camp getaways, college tuition, or anything else.

I usually hear one of these two replies: “Hey, that’s fabulous that you have no one but yourself to worry about! No money worries at all!” or “Oh, wow, if something happens to you, you might be up the proverbial river without the proverbial paddle. Does’t that stress you out?”

I don’t have a formula, but here’s what there is to know about how I am now 10 years into being my own boss:

• When I decided to leave the corporate world, I gave myself 1 year to get my finances in order and find affordable health insurance. It was/is important to me to have at least 4 months of savings to cover bills.
• At the time I quit, I downsized (sold my house) and have been renting ever since, which is less responsibility and has more predictable expenses (to me), so I can save money as well as pay myself.
• I am frugal – this means I minimize my bills. I have Internet, a cell phone, use AC, and buy too much food when I go to the grocery store. It does not mean I’m working by candlelight to save on my electric bill or that I live in a library for free WiFi. 🙂 I always pay my credit card in full each month to avoid finance charges and I pay my bills monthly, not weekly.
• I maintain my older vehicle instead of having car payments.
• I network to meet other solopreneurs and learn how they thrive in their business and try tips I learn.
• I use LinkedIn to find contract opportunities.
• I only take on jobs that interest me, which keeps me happy and lets me give my best to the client (I always meet or beat deadlines).
• I absolutely love what I do and (literally) say “Thank you” out loud every day to the cosmos.

I don’t know of a magic bullet for self-employment success, but I know (1)  it’s important to love what you do and do what you love and that you have to work at it (very much like a personal relationship). If you want it to work and approach it honestly, I believe you’re more than 75% to your goal.

And (2) having money readily available if monthly income checks don’t arrive when planned is quite helpful at keeping stress about money at under control.

What is your tip to someone thinking about becoming self-employed?

Lisa J. Jackson is an independent writer and editor who enjoys working with manufacturing, software, and technology businesses of all sizes. She loves researching topics, interviewing experts, and helping companies tell their stories. You can connect with her on Twitter, Facebook, and LinkedIn. 

Count on the Unpredictability of a Writer’s Life

My year so far has been a mix of swarms and dry spells in regard to work-related writing.

How have the first six months of 2014 been for you?

Ebbs and flows aren’t any surprise for a freelance writer, or probably any self-employed person. There’s only so much we can predict with certainty, and even that can change, right?

You’re probably familiar with the quote “The best laid plans…”. And it’s so applicable to freelance writing (or life in general) because no matter how well we plan and get our tasks mapped out, there are an infinite amount of things that can detour us.

This can sound like a stressful way to live or run a business, but I think it’s easiest to accept that change is a constant and know that challenges will pop up in new and creative ways — all the time. If you accept change as a constant in itself, your mindset shifts accordingly.

What can you do to alleviate the stress of not knowing _____? (fill in with what’s appropriate to you)

• Plan – without a plan to your goal you won’t get anywhere, so a plan is required
• Stay focused – keep your major goal front-and-center at all times
• Expect the best – from your clients and yourself
• Think positive – everything works out one way or another
• Bob and weave (don’t duck and run) – when change comes, go with your Plan B or backup plan (see first point) to get back on the path

Other things that I do include:

• Talking with other small business owners (similar experiences alleviate the ‘all alone’ feeling)
• Keeping task lists in front of me – when slow times come or a client doesn’t get to back to me on time, I always have something to do
• Save extra money during fruitful times – to alleviate stress during slow times
• Savor the minutes where there is a slow period and remember them when I’m so busy I barely have time to eat
• Exercise – it’s so easy to sit and when stressed or worried and that slows not only the metabolism down, but brain function – exercise keeps the blood flowing, the metabolism moving, and ideas ready to pop up when needed

When a week comes along (and it does) that goes exactly as planned, it’s as sweet as a fresh-baked chocolate chip cookie. And, yum, I do savor those times (as much as the cookie), for when a super-busy week or a super-slow week comes along.

Having a plan to reach a goal is what keeps everything ultimately moving in the right direction – because without a plan you won’t know how to get back on the right track when life tosses you the unexpected.

How do you cope with the unpredictability of being a freelance writer (or being self-employed)? I’d love to know.

 

Lisa J. Jackson is an independent writer and editor who enjoys working with businesses of all sizes. Even though she knows her schedule can change any minute, she enjoys the writing life and the mystery of it all.  You can connect with her on Facebook, Twitter, Google+, and LinkedIn.