29 December 2010
Because of my grand plan to become a freelance writer full time in 2011, I’ve been thinking about all the possible revenue streams that I could support myself with. And since I’m a nice person like that, I decided to share my conclusions on my blog.
Right now, oDesk represents my biggest source of income. It’s a marketplace for online freelancers, not only for writers. Once you register, you big on projects along with others and the employers choose the person they want to work with. You can charge an hourly rate or a fixed rate and oDesk adds a fee to your quote (which is how they profit from the entire arrangement).
There are other marketplaces similar to oDesk: Guru, eLance, Freelancer.com. But I’ve registered to all of them, and I found that oDesk works best for me. If you’re looking for a good site, you should check out all the possibilities before settling for those that work best for you.
It’s worth saying that at the very beginning I was afraid that with my high rate, I wouldn’t be able to find any work – a fair concern since a lot of workers bidding on jobs are from the Philippines and their rates are often below $5 per hour. But I find work and I didn’t have to lower my rate, so it’s good to know that if you know your craft, you can find work no matter your rate.
A good place to find writing gigs is searching on various job boards. Personally, I prefer Job Board over at Problogger.net. But I also subscribe to Anne Wayman’s About Freelance Writing where she regularly posts a huge number of jobs available to freelancers that she found all over the Internet (including Craigslist).
If you, like me, have an account with Helium, it’s always worth checking out their Marketplace. The articles that don’t get purchased are turned into regular Helium articles and will bring passive income to the author.
Don’t look for jobs, create them yourself
And by that I mean creating sources of passive income of course. Things and assets that will earn money even after you stop working on them. The website/blog combination is the first idea that pops in mind, and it’s also a great tool for exposure. It makes it easier for future clients to find you and your work. And it can help with starting any future projects.
EBooks are also very popular when it comes to creating passive income sources, but freelance writers shouldn’t limit themselves to just eBooks, because the online world is full of possibilities and you can always think of something that will have the potential to bring in great revenue.
So here you are. Those are the ideas I got for bringing in various income sources. I will most likely brainstorm and come up with several others. And if you sit down and think about it, you will probably find something that will work best for you. Good luck!