I made the life-changing decision to start my own business as a content writer and editor 10 years ago, motivated by the prospect of having more control over my workload, when I work and who I work with.
It was one of the best decisions I have ever made – but, wow, did I have a lot to learn. Here are the top 10 lessons realised (usually the hard way!) during a decade as a website content writer running my own business.
While I’ve written these tips with professional writers in mind, most are applicable to anyone interested in starting their own business.
1. Think like your client
It doesn’t matter how good a job you do if you don’t give the client what they want. This is crucial in the highly competitive sector of content writing, but it applies to any service business. You need to establish clear communication from the outset, ensure you fully understand the brief before starting work on a project, and be unafraid to ask questions.
2. Prioritise existing clients
While you always need to be actively looking for new business opportunities, it’s a lot easier to get more work from existing clients. It’s also a cost-effective use of your time. Try to schedule regular catch-up meetings with clients to develop your professional relationship and find out more about what is happening in their business. These meetings are a prime opportunity to ask for feedback and resolve any ongoing issues.
3. There will always be somebody cheaper
Deciding what to charge is difficult. After months of struggling to determine the ‘right price’, I realised there would always be content writers charging a lot less than me – and content writers charging a lot more. Research your market segment thoroughly and expect that you will need to make adjustments, especially in the first year or two.
Some content writers and other creatives charge far less than they should because they’re worried about losing potential opportunities. There are two main issues with this approach – yes, you may get the job, but if it is at a heavily discounted rate, you will find it difficult to persuade your client to accept a higher rate later and may come to resent the agreement.
Secondly, if most of your work is at discounted rates, your business is unlikely to survive more than a year or two. It’s a tough industry littered with the carcasses of talented writers with poor business skills. Routinely accepting work at low rates reduces the time and energy you have available to attract better quality clients, which brings me on to…
4. Value your expertise and your time
As a service business, this is what you’re selling. When you are working closely with clients, for example on a big project over several months, some people will start to treat you as if you are a full-time employee rather than an independent contractor. You need to be ready to politely push back – for example, if you are spending one or two hours per day responding to emails in order to perform your duties, that time should be included in your billable hours.
5. You don’t have to do everything
Starting your own business is exciting – but then you realise that there is so much work behind the scenes, from keeping track of your finances to invoicing, scheduling meetings, marketing, recruiting, team management; the list goes on.
The initial exhilaration over being your own boss can be dampened by overwhelm. In the first few years, you will get a better understanding of what aspects of your business you can cost-effectively delegate or outsource. For example, putting in place a monthly IT retainer will save you a lot of time and stress, while hiring a PA for several hours a week will free up time from administrative tasks to focus on billable work.
If there’s no budget but you know you would benefit from outsourcing a particular task, consider offering a barter agreement.
6. Set aside time to work on your business
It’s easy to fall into the trap of busy-ness and neglect to prioritise the bigger picture. What’s your overall business strategy? What business goals are you planning to achieve this year: do you need a better sales funnel, a new team member, or improved admin systems? Where do you want to be in five years?
While many people are sceptical about the value of business coaches – when you’re starting out and cash is super-tight, hiring a business coach is probably the last thing you are thinking about – being able to bounce ideas off an external, independent expert will provide you with clarity and accountability. It can make the difference between treading water and moving forward.
Consider group coaching if one-to-one sessions are out of your budget or set aside a couple of hours each week to focus on business development, include goal-setting and business education through free tutorials on platforms such as LinkedIn and YouTube.
7. Leverage business networking
The old adage “it’s not what you know, it’s who you know” is especially true when you’re starting your own business. We buy from people and brands we trust – and to trust, we need a level of familiarity. Business networks and professional groups are not only a great way of getting more word-of-mouth referrals but also picking up handy tips to help you run your business better and more efficiently.
I’ve been a member of the Tunbridge Wells chapter of Network B2B for more than three years and find it invaluable for business growth. However, keep in mind that business networking is a medium to long-term strategy; expect to be involved for at least six months before you start to really see the benefits.
8. You can fire a client
Not having to put up with toxic people may be one of the reasons you decided to become self-employed. However, there is definitely a right way and a wrong way to sever the relationship if a client has become too difficult or unreasonable. Even if a client is disrespectful or downright rude, keep things professional on your side.
If possible, arrange to meet with them face-to-face to explain that you no longer have the capacity to provide services to their business. Follow up with a polite but assertive email restating your decision. There’s no need to go into detail.
9. Treat yourself like a client
When your services are in demand, it’s easy to neglect basic needs like leisure and exercise because you feel you should be making the most of the opportunities in front of you. This is sustainable in short bursts, but detrimental if you stay in this frame of mind for longer than a month or so.
Treat your non-business priorities – time with loved ones, fitness, leisure – as seriously as you would an important business meeting. Block out time in your diary and stick to your commitments to yourself. This will make a huge difference to your productivity and wellbeing. And don’t forget the coffee and cake.
10. You never stop learning
It’s corny, but true. You start out thinking you have the skills you need for a successful business, then quickly become aware of just how much you don’t know, and then the real learning journey begins. I can’t wait to find out what else I don’t know as a content writer in the next 10 years.
If you need a quality content writer for blogs or your business website, get in touch today.