Hi Reader, Happy Friday! This week, I had an interview published in the Metro about my revenue as a freelance writer. I've had a ton of new followers since then, so "hello!" to anyone new here. As you can imagine, I also got a lot of comments on the article and the social media channels it was shared on - some good and some bad, so today I'm going to be addressing a few of the common themes that cropped up. If you haven't already, check out my podcast, It's Fine, I'm a Freelancer, where I share real, down-to-earth experiences of being a freelancer in this day and age. P.S. This week on Instagram, I shared how I work less than 20 hours a week and still earn a decent income. Find out how here. And don't forget to give me a follow for regular tips and tricks! Here's what I've been up to this week work-wise: 👉 I wrote 4 pieces for clients (Salsify and Klaviyo) 👉 I refreshed 2 pieces for Shopify 👉 I sent my monthly invoices 👉 I fielded a ton of responses from the Metro article ⏱ Approx hours spent on client work this week: ~22 ⏱ Approx hours spent on non-client work: ~3 💰 Total revenue this week: £4,550 Want to advertise your business, course, product, program, or software to 6,500+ freelancers and creative business owners? Check out the affordable sponsorship options here. Friday Freelance Tip ✨ So, as you can probably imagine, there was a lot of response to the Metro article. Some of it was lovely - lots of support from fellow freelancers. And some of it was, well, not so nice. I was called a liar on more than one occasion. Just to address some of those comments: yes, the article was fact checked, the journalist saw my annual revenue statement from my accountant. No, I'm not from a wealthy family and I don't have a rich husband (I don't have a husband at all). No, I had no family connections when I started and my dad is not the "CEO" of my company. In fact, I had zero connections when I started. Now we've got that out of the way, let's move on to some of the more thoughtful comments. “As someone that works in the same space, this is definitely not typical. It’s nice to see it can be done, but people shouldn’t expect to go into it thinking this is what you’ll regularly earn. Sadly, clients are fickle when it comes to freelancers, many consider you a “buffer” in cost-cutting terms and you’ll likely be the first on the chopping block.” No, earning this much is absolutely not typical. It's not the norm at all, and I'll be the first person to say that. It took me 10+ years to get to this point, and it was only at six years in that I started hitting six figures. And yes, clients can be fickle, especially when budgets are tight, but there are some ways you can make yourself a bit more indispensable.
I'm going to group the next two comments together, because they cover the same angle. There were actually quite a few comments about the rise of AI and whether that's impacted writing in any way. “Over half of my clients left me for ChatGPT. The ones who didn’t regularly accuse me of using ChatGPT for their work.” “Isn’t AI replacing the need for writers these days?” I lost a fair few clients at the end of 2023/beginning of 2024 due to AI. A few of my long-termers decided to lean into AI and save some money. To be honest, I was panicking for a while. Then in mid-2024, two of those clients that left came back saying they'd tried AI and it hadn't worked out for them. The thing is, AI has replaced some types of writing. Mundane SEO pieces with very little human input were made for AI and I completely approve of brands using tech to whip up quick glossary entries and descriptions. However, the explosion of AI has seen something else: consumers/people are now craving more human connection. I've noticed an uptick in the number of clients who are looking for more than just AI content. They want interviews with SMEs (subject matter experts). They want real experiences, case studies, and human voices. These are the kinds of clients that aren't turning to AI, and they're still out there (I have about 6 of them in my roster at the moment!). The next comment addresses the whole revenue vs profit debate... “Her salary is not that amount; that is her business turnover.” It's quite clear in the article that I pay myself a salary of £73,000 from the business. The business turns over £232,000. From that, my business expenses, pension, and investments are taken out, then my salary, and then what's left over stays in the business account for when I might need it. But ultimately, I am the sole owner of my business, so essentially that money is all mine, but it's just structured in a different way. It's technically not a salary, it's turnover, and it's always important to keep an eye out for that distinction when looking at numbers like this. Lots of people will simply post their turnover without breaking down what comes out of it. For example, my tax bill last year was HIGH. I paid £46,000 in corporation tax and a further £25,000 in self-assessment tax. That's £70,000 gone to the tax man already. This next comment follows a similar theme... “How many years has this business had that turnover? Is it one?” 2024 was my highest earning year, but I'm on track to make the same, if not more, in 2025. Before that I earned ~£200,000 in 2023, ~£170,000 in 2022, and ~£150,000 in 2021. 2020 was the first year I hit six figures, but it has steadily been increasing so I know it's not just a fluke. Of course, I'm always well aware the gravy train might end at some point, which is why it's important not to get stagnant. I'm always looking for new ways to upskill and add new services/solutions to bring to clients. “£850 a piece is pretty rare unless you work in a highly specialised industry like tech, crypto, medicine, engineering etc.” This is absolutely true and the industry I'm in plays a huge part in my earning potential. Some commenters suggested I had "sold out" because I'm writing copy for tech companies and not, say, science or whatever, but the truth is, I like writing the content I do. I predominantly write for an audience of small business owners who use the tech I'm marketing, and I love being able to help those small businesses. Plus, I am a small business, so I know their pains inside out. I'm under no illusion that I wouldn't be earning this much if I was still writing for travel companies. But that's the choice you have to make when you go into something like this. It's a case of figuring out where your interests and skills align with money. I'd love to keep this conversation going, so if you have any more questions for me around anything in the article or want further clarification, please do hit reply and let me know! We need more Freelance Money Diaries submissions! As you know, I'm on a mission to bring more transparency around rates in the freelancing world. And, to do that, it really helps to see what other freelancers are earning. I'd absolutely love it (and be eternally grateful) if you share your finances with us (you can do it totally anonymously!).
As always, happy freelancing :) Lizzie ✨ Interested in sponsoring Friday Freelance Tips? Get your brand, product, or service in front of 6,500+ freelancers, entrepreneurs, and founders. See sponsorship options here. Follow me on Instagram and on Linkedin, where you can see the behind-the-scenes of my business. |
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