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April 22, 2010
Volume Two, Issue Six
ISSN 2153-0246
Published
every other Thursday. You are on our mailing list because you signed up
for one or more programs at WritingCoach.com. To change your
subscription, click on the link at the end of this e-mail.
Sign me up for my own Writing Coach subscription.
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Now that tax season is behind us and we’ve all had a chance to take a good, hard look at our income and expenses, it’s time to do some spring cleaning. No, I’m not suggesting that you take time off from lucrative assignments to tidy up your office. I’m talking about getting rid of deadbeat clients — or simply those who are more hassle than they’re worth — and positioning yourself to pursue the work you really want.
For me, spring cleaning starts with assigning grades to each of the clients I’ve worked with during the past year. A-clients are those who communicate clearly, edit promptly and respectfully, and pay well and on time. They are truly a pleasure to work with because they view me as a partner and not a nameless, faceless content provider. B-clients are great on the editorial side, but they don’t pay as quickly as I’d like, such as on publication as opposed to on acceptance of my articles. I work with these clients because I’m proud of the stories I write for them, and I can afford to wait for the payment.
By contrast, C-clients are high-maintenance. Some pay high per-word rates, but by the time I’m done responding to their fickle rounds of edits I’m barely earning minimum wage. Others have an antiquated billing system that requires me to fill out reams of paper, snail mail it back, and keep my fingers crossed that I’ll get a check in return someday. Rounding out the list, D-clients include anyone who pays a pittance, and F-clients are the folks who introduce galling errors into stories, violate contract terms, or go bankrupt before I’ve been paid. Oh yes, it happens.
Once I’ve graded my clients, the next step is to put the poor-performing ones on notice. I tell them that I’m unable to accept new assignments from them. Getting rid of the bottom-feeders gives me time to pursue better markets, however I define them. It also reminds me that I’m running a business — and thus have to make decisions with regard to my bottom line.
Your mission, should you choose to accept it, is to have the courage to do the same. You’ll likely be happier for it — and your business stands to benefit, too.
For additional help to pursue a more profitable year, check out our Tax Tips for Freelancers and 7 Secrets of Profitable Freelancing in a Recession kits. Also, feel free to submit questions to Ask Writing Coach, our weekly freelance advice column. We’re here for you.
Please comment on the blog to let me know what you think.
Make every word count! |
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Tax Tips for Freelancers
2009 is history, but you still have time to proactively manage your taxes this year. For a small investment ($10), you can download a digital audio recording and transcript of WritingCoach.com founder Maya Payne Smart’s interview with certified public accountant Pam Burns. During their Q&A, Burns provides useful advice for freelance writers who want to get their taxes in order. The conversation features insights into a dozen key issues, including:
- The biggest mistake freelancers make when paying taxes;
- Which tax records to keep, for how long, and in what form;
- Why $25,000 of net profit is a magic number when choosing a business structure;
- Red flags that raise a freelancer's risk of getting audited; and
- The advantages and disadvantages of taking the home office deduction.
As a bonus, Burns also supplies a list of 300 tax deductions for small businesses to consider.
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Be a linchpin, not a cog, in the content-creation system
Freelance writers can shape their careers to the extent that their talents and motivation allow. Why choose to be depersonalized, devalued and disrespected?
by Maya Payne Smart
In his new book "Linchpin: Are You Indispensable?" entrepreneur Seth Godin describes a multigenerational American conspiracy in which schools, governments and social contracts led us to trading genius and artistry for presumed corporate safety nets. Work hard, keep your head down and collect your pension were the rules of the game — until they weren't. The layoffs, furloughs and other cuts prompted by recession show a system breaking under its own weight. Yet many of us keep toiling as if old bargains still hold when a new approach to work is needed.
Rather than remaining cogs in a broken industrial machine, Godin argues that we should shrug off the thinking that's brought us here and use our strength and creativity to instead become linchpins, the indispensable individuals who hold organizations together and propel them forward. Although his message is largely intended for employees who cling to outmoded expectations of their employers and themselves, his insights are valuable for freelance writers, too. In a sense, freelancers are even more vulnerable than full-time staffers because we work with few guarantees and are all too often underpaid and under-insured.
Moreover, in the media industry, content farms and even some legacy media companies are applying the old industrial model to further commoditize journalism. Like the pin-making factory in Adam Smith's "Wealth of Nations," they've broken down the content creation process into tiny tasks undertaken by low-paid workers to produce much more copy than a skilled artisan working alone ever could. But as freelance writers who work without corporate paychecks, benefits and backing, we have even less reason to take the bait than the manual laborers of yesteryear.
The way forward as freelance writers is not to push ourselves to become more efficient and productive parts of some insatiable content machine. We'll never be fairly compensated in a system in which our primary value is being compliant and interchangeable with the next writer. So let's not play that game.
Click here to continue reading.
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Q. Is it unprofessional to pitch the same story to more than one publication at a time, or should you wait for a response before moving on?
A: With freelance pay rates on the decline, most writers can't afford not to have multiple pitches in the offing at any given time. After all, the more stories you pitch, the more likely you are to receive assignments and, ultimately, get paid. But sending duplicate pitch letters — or offering up a single story, told from the same angle — to two or more editors at once is generally frowned upon.
Here’s how to two-time with the best of them.
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Maya
Payne Smart is a full-time professional writer who specializes in
reporting on small business, franchising and entrepreneurship. She owns
Ralston Payne Enterprises, LLC, and serves on the board of governors of
the Society of American Business Editors and Writers. Since
graduating from Harvard University and the Medill School of Journalism,
Maya has written hundreds of articles for newspapers, magazines, and
websites. Her clients include Black Enterprise, CNNMoney.com and custom publications.You can learn more about Maya and her line of Writing Coach products, services and events at WritingCoach.com. |
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Writing Coach is published every other Thursday via e-mail by
Ralston Payne Enterprises LLC, 3126 W. Cary St. #606, Richmond, VA 23221.
All contents ©2010 Ralston Payne Enterprises LLC. | |
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