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❶Set some benchmarks to know when you should transition to making your home-based writing business a full-time endeavor.

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If you are not satisfied with the delivered paper, you can claim a free revision or your money back. This is regarded as the most important aspect of a business plan since potential investors will see the executive summary first. Your vision statement should be your specific list of goals and actions which can build your business in the future. Your mission statement should, by contrast, be based in the present and represent the continuous process your business is engaged in.

Your executive summary should also include general info about your company history, your growth, the services or types of writing you provide, and an overview of your funding request, if applicable.

If your situation changes, or you decide that your writing business needs a better business plan, you can always alter the plan. Keep your business agile and adept at analyzing the writing market. In a new home-based writing business, you should focus on the decisions that led you to found the home-based writing business, and how it will fill a gap in the writing market.

Delineate the organization and management of your business. If your business consists of, say, just you and your partner, explaining your organizational structure might seem unnecessary, but to potential investors, knowing who does what is important. Demonstrating your business has an organized structure is an important step in attracting new partners or staff if you decide to expand your business in the future.

Decide what kind of business you want to operate your writing business as. Craft your funding request. Include data on potential future funding requests as well. Project at least five years out.

Describe your past and potential future earnings. As a new business, you might need to draw on your past writing experience in order to show you understand the writing market. Maintain a safety net in the early stages of building your writing business. Work part-time with your writing business early on and keep your full-time job.

Decide carefully when to write full-time. Set some benchmarks to know when you should transition to making your home-based writing business a full-time endeavor. Maintain enough savings to carry you through months of lean times. You should have enough money saved up to cover your expenses for at least six months. If possible, maintain flexible part-time work which could be scaled up in the event that your home-based writing business is not providing you with enough income to meet your needs.

Set up your home office. Get a chair which supports your spine and provides support. Invest in the software and digital tools you need. Most computers today come with free word-processing software. If, however, your computer does not, you might need to shell out a few hundred dollars to get MS Word or another reputable word-processor. A good word processor should have a clean, simple interface and be intuitive and easy to use.

Decide on a pricing strategy. There are several ways to price your writing. If you price your writing per word or per page, the longer the article, the more you get paid. Charging per hour can also be hard, since an employer will have no way of verifying how long you took to write a given piece. Ensure your prices are competitive. Analyze the going rates for the type of writing you're specializing in and set your price at a comparable level.

Decide what you want your salary to be when setting your prices. Resume edits and reviews are generally easy, so you need not charge a high rate for them. Medical or technical writing, on the other hand, require a high degree of accuracy and know-how, and can justifiably earn a much higher wage. Plan around your financial needs. Advertising can be expensive. Other business expenses like travel, insurance, computers, or web hosting costs should also be considered. Draft a business plan in order to secure funding from banks or loan agencies.

The business plan should provide specific funding requests and describe exactly how loaned money will be used. Post high-quality content to your website or blog.

Make your site and its content useful and easy to navigate. Having a degree related to writing is a useful bona fide, but practical credentials are more useful. If you can cite other writers or articles which link to your writing, or you know how many average page visit you get per day, use this info to bolster your reputation.

WordPress or Tumblr are useful, free content systems which you can utilize to present your work. Keep your layout clean, professional, and slick. Include a concise but memorable bio on your website. Develop a snappy logo and a memorable name for your business. Build your brand carefully and maintain its integrity by producing quality writing. Email or direct mail samples of your work and article pitches to outlets which accept them.

If you hope to engage in writing advertisements for a business, position your writing business as offering a solution to their marketing needs. If you want to write for a specific publisher or periodical, identify their submission policy.

Investigate who is in charge of reading and editing potential pitches, and address your questions and concerns directly to that individual. Answering this question will help you figure out what tone you should adopt when crafting content. Be specific about your interests, talents, and abilities in order to find your niche. Consider also whether you want to write online, in print, or both.


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