THE ART OF BUSINESS BLOGGING It is important to understand the difference between an article, an advertorial and a business blog.
How can a business blog help?
Avoid these mistakes:
When should you begin your business blogging adventure? There's no time like the present. GO WRITE WIN
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A professional writing career takes passion, talent, and perseverance to succeed. At the top of the list of questions is, "What do I charge for writing services?" Unfortunately, there are too many variables to provide a definitive answer. As a professional writer you must consider your experience, average pay scale in your area, writing style, and competition. As a freelance writer, you have the ability to negotiate fees; but should you? Although there are exceptions to every rule, fee negotiation can backfire. Always remain consistent and base your fees on the work required, not on the amount someone will pay. You ARE a professional writer and professional writers do not provide services for free. Specify your terms, number of allowable re-writes and details in the contract. Yes, clients will need to be able to review your work; however, writing a free project is not an example. Instead, create a professional portfolio that highlights your qualifications and experience. Writing for free can potentially damage your reputation as a professional. So again, how to charge for writing services? Some writers charge per project, some per hour, some per word count and in some cases, a retainer fee. Charging per Project Charging per project may sound good on the surface; however, failure to calculate factors such as, research, travel, time, deadlines, expenses, taxes and extenuating circumstances can negatively affect your bottom line. Charging per Hour Charging per hour can be difficult for both you and your client. Charging per hour can make a writer feel rushed, which can result in errors and is rarely productive. Charging per hour can also make a client wonder if you're deliberately working slow to increase the payment, even if you're not. If you choose to use a per hour fee, calculate the number of hours it will take to complete the project, multiply the hours by your determined rate and quote that amount. Again, carefully calculate all factors before quoting to avoid undercharging. Charging per Word Count Charging per word count works well. Before quoting a word count price, ask the client whether the topic information will be provided or if research will be required? If research is required, factor this into your word count price. Opinions on word count pricing are as broad as the number of writers writing. Writers often undersell themselves by calculating a word count price by estimating the time they think it will take to produce the assignment. EXAMPLE: A 500 word assignment at .10/word would pay $50.00. If you spend one hour writing the assignment, you will be making $50.00/hour. Sounds pretty good, doesn't it? However, what if that 500 word assignment suddenly requires research, clarification phone calls, a re-write or simply takes longer than an hour? The 500 word assignment you quoted at .10 a word has actually taken four hours instead of two? You're now making $12.50 an hour! If you are taking that first leap into the wonderful world of freelance writing, you may want to start with a lower pay rate scale to build your reputation and then increase fees on an annual basis. Once established as a professional writer, charging a low word count rate may bring more clients, but at what cost? If you are able to accurately estimate the time it will take to produce a quality assignment, this may be a good route. On the other hand, a higher word count rate, such as .15. .25 or even .50/word, may result in fewer clients initially, but may increase your credibility and profitability. Choose the pay rate that works best for you. RETAINER A few things to consider when quoting a retainer fee:
Regardless of the pricing strategy you choose, your work will speak for itself. You will either reap great benefits or vice-versa. Always remember, your reputation is at stake! GO WRITE WIN
We live in a fast paced world where answers are as quick as a click on your computer, lives are way too busy and time is a precious commodity. Therefore, it is completely understandable for potential ghost writing clients to expect detailed information upon first contact. Unfortunately, the process of ghostwriting can be complicated and an initial interview is mandatory. Typically, your first contact with a potential ghostwriting client will be via a phone call or email. Potential clients usually inquire about the time it will take and the cost. It is your job to educate the potential client about the process to ensure the clients expectations can be met, determine, first and foremost, if you want to accept the assignment, and finally, to avoid underselling your services. Once you have made the decision that you are interested in taking the project, email/snail mail the potential client a questionnaire and a copy of your portfolio. Advise a timeline for the return of the questionnaire and that you will follow up with any questions and forward a formal quote, contract, time of completion, and the expected project start payment. (It is a good idea to add a disclaimer to cover re-writes, travel, research and other additional expenses not included in the contract.)
Consider adding a disclaimer regarding re-writes, travel and additional expenses. This can enable you to bill for additional expenses. It is best to avoid quoting a price upfront by explaining that you will need to review the information and the amount of time required to complete the project to provide an accurate cost. An average ghostwriting project can range anywhere from $10,000 to $100,000, which is a very broad range and best not to quote. Client Meeting Questionnaire Review A questionnaire should be completed at the first meeting. Although the information often duplicates the Initial Contact Questions, it is a good idea to have this in writing. Click HERE to view a sample questionnaire. Process Details
Contractual Agreements Contracts are a must! It is important that a contract is signed by both you and the client. A contract outlines the expectations of both parties, offers dual protections and is legally binding. Sometimes a project description entails more than disclosed initially; therefore, it is a good idea to include an unexpected expenses clause in the contract. Legal advice is always recommended for contracts. On your mark, get set and
GO WRITE WIN 7 FIRST QUESTIONS FOR START-UPS The thought of starting your own business is intriguing. It's easy to visualize a perfect world where YOU are your own boss, make your own hours and reap huge profits. Unfortunately, more often than not, reality does NOT match up with the vision. Answer the questions below to see if you are you ready to take the leap? 1. Reason Why do you want to start a business? The main reason should be that you have a passion for the business you are starting. Yes, you will need to eventually make a profit, but understand that making a profit can take time. Having a solid plan and sound reasons for starting a business will help get you through the long hours, financially lean months and the stress. 2. The Difference What is different about my business and sets it apart from the competition? If you cannot answer this question, you need to rethink your idea. If nothing is different or better than the business down the road, you're just creating competition. 3. Revenue What amount of revenue is needed to start and to sustain the business? Do you have a revenue cushion besides budgets costs? Calculating all costs including an allowance for "unexpected" expenses is vital. A Business Plan is necessary and should account for the first five years. (Keep in mind a business plan is a fluid document that must be changed and updated periodically) 4. Investment Funds Do you have the investment funds necessary to launch a business? Angel and Venture Capital Investors are extremely limited and business loans through a bank or the Small Business Administration are not always easy to secure either. The application process will most likely require your personal credit history, assets and available funds for consideration and security. Do not be misled, there are NO GRANTS for individual small businesses. 5. Location Where will the business be located? In-Home, Online or Brick & Mortar building? Location, Location, Location, the success or failure of your business may very well depend on it! 6. Regulations Educate yourself about City, State and Federal laws, tax laws and employment laws. These vary from state to state. Be aware of required licenses, permits and so-forth. 7. Client Base Do you have a solid marketing strategy in place? Build and they will come is not a marketing strategy, it's wishful thinking! Next Steps: Develop a Business Plan Build a Business Team Write a Press Release Business Networking Social Media and Business No time like the present to begin! GO WRITE WIN
Business networking provides a platform where businesses can introduce themselves, their product or service and share their expertise with other business professionals. Networkers exchange business cards, form business relationships, and provide business referrals. In today’s business world, particularly small to medium sized businesses, networking in person and/or via social media is vital for success. Unfortunately, many businesses simply do not understand the value of networking, fail to recognize the benefits of networking and sadly, never take advantage of the many business connections (and friendships) that can be made. Business networking groups are NOT all alike. There are many business networking groups and choosing one or two can be difficult. Therefore, visit many groups before you make a decision, and then carefully select a networking group that is a good fit for you, your business and your schedule. Do not over extend yourself by spending too much time in several groups. Time is money and belonging to too many groups can be counter productive. Some networking groups are free to attend and have few rules and restrictions. Other groups may charge membership fees, mandated attendance requirements, and more. Again, test the waters, before jumping in with both feet. Visit a number of groups and see which one is the best fit with your product, service and schedule. Networking is an obvious fit for B2B companies, but is often overlooked by B2C businesses and non-profit organizations. It's important to recognize that business owners are also consumers, volunteers and donors.
Starting a business can be a risky venture. Success is dependent upon a number of factors such as the demand for the product or service, general economy and YOU! Starting your own business may initially sound exciting. Your mind swirls with thoughts of setting your own hours, being your own boss and, of course, reaping huge profits. Unfortunately, the desire and vision of Entrepreneurship often fails to match reality. Whether you’re considering starting a business, or have already taken a leap of faith and jumped right in, the fact remains that starting and running a business can be intimidating and scary. Are you prepared to work long hours and live without a vacation for two-five years? What steps are necessary? What questions should be asked? How much money will be needed? New business budgets are usually limited and first time business owners often take on the responsibility of tackling every aspect of the business from sales to management. The result can be overwhelming, detrimental and expensive. Starting a business is a big decision, one that requires planning, research and dedication. Seeking expert advice BEFORE hanging the proverbial Open For Business sign, can help prevent many critical and costly mistakes. It is a good idea for a start-up businesses to consider hiring qualified, independent professionals to provide the necessary services. In the beginning it may not be feasible to hire permanent employees for these positions; however, there are many good independent businesses that can help fill the gap. Advertising/Marketing Specialist A professional advertising and marketing specialist will develop a marketing strategy that incorporates a variety of methods based on the products/services offered, target audience and geographic area. This is not an area to pinch pennies. Getting the word out about your business is vital for success. Business Attorney A Business Attorney provides guidance, ensures that you and your business interests and transactions are protected, creates company specific contracts, ensures that your business has all of the necessary licenses and serves as legal representation. CPA/Accountant A Certified Public Accountant can provide a variety of services such as: Business Plan Development, Business Structure Determination (i.e. sole proprietorship, LLC, Corporation, or Partnership), Tax Planning, Detailed Financial/Cash Flow Analysis, End of Year Reporting, Employee Tax Classification, W-2’s, 1099’s, Bookkeeping and more. IT/Computer Specialist An IT/Computer Specialist can help with everything from website design and maintenance to updates and troubleshooting. A business cannot afford for computer systems to go down, or have their systems compromised by a data breach. Human Resource Consultant An Independent Human Resource Consultant serves as a Human Resource Department for businesses who do not have an HR professional on staff. A new business cannot afford mistakes in this area. The road to ENTREPRENEURSHIP is rough, the nights are long and the words “I Quit” will become a mantra of sorts. It is important to understand that patience is required, along with remembering WHY you started a business in the first place. Keep moving forward, persevere through the tough times, NEVER give up and you WILL succeed!
Business Correspondence - Make a Great First Impression No doubt you've heard the phrase, "You never get a second chance to make a first impression"; but how seriously do you take it? Written correspondence and communication can open doors, serve as an introduction and foster business relationships. Business correspondence, internal and external, should be free of sloppy structure, improper grammar, slang, inappropriate verbiage, text speak, industry jargon and acronyms. Business Correspondence Tips
A great first impression can be the beginning of a long, prosperous business relationship RESPECT THE PROCESS GO WRITE WIN You've probably heard the term Micro-Business and Small Business, but do you know the difference? Micro-business is defined as less than five employees, including self-employed. Small-business is defined as a business with revenues between $750,000 and $35.5 million between or below 100 and 1,500 employees which can vary depending on the industry. Micro businesses face numerous challenges with lack of capital being number one! Many people believe that government grants are available to start a small business, this is false information. Capital funding will most likely come from personal loans, possibly lower interest loans with help from the SBA (Small Business Administration) or Venture Capital. Let’s talk Venture Capital. What is it? Venture Capital is a type of financing that helps fund entrepreneurs and is provided from high net worth individuals (Angel Investors) and Venture Capital firms. These investors usually require a high rate of return and you can’t simply pick up the phone and make an appointment with a Venture Capitalist or an Angel Investor. Most likely you will need a direct connection to even be considered for this type of funding. Beware of business sharks! Sadly, there are organizations that promote themselves as advocates for small businesses, and these "advocates" will gladly take your money and leave you very little or nothing. Recognize that starting a business is tough. You must understand that you will, most likely, be funding your own start-up, your hours will be long, and your nerves will be strained. More than half of all new business survive five years. Avoiding some of the following pitfalls may help you survive your first five business years: Understand that you opened a business, not a charity. A business is designed to make a living and, if you can explain the benefits of your product or service, demonstrate consumer advantage and have researched your pricing, then don’t defend it and certainly don’t apologize for it. Beware of comments such as, "We need to see what kind of work you do” or “I can’t refer you unless I know what type of work you do”. Explain that you guarantee your work, but your fee’s stand. You can't expect anyone else to place value on your product or service if you don't. Charitable donations are great, but as a micro business, donations are probably not in your initial budget. It is okay to say no. Be courteous and let the asking organization know that you will certainly consider their request in the future. Business networking is vital for micro businesses; however, an individual could spend every day at a networking event and this is not productive. Networking doesn’t replace grassroots marketing. Membership fees can drain your budget quickly. Discern whether or not the memberships are a must; if not, forego them for a while.
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