Midyear Checkup: Are You Thriving or Just Surviving?

Taking stock of your freelancing business.

If you are reading this article on the date that I published it, we are exactly at the half-way point of the year. Yes, I killed the “evergreen writing” component once I wrote the title, but what I am going to say here can be applied any time of the year.

As freelancers we should take stock of “how are you doing?” at various points of the year. If you do not, then you risk missing the mark and whatever goals you set for yourself at the beginning of the year, perhaps even when you set out to freelance in the first place.

Freelancing Life

One thing about a personal review is that you can make adjustments to help you get back on track. To that end I have pulled out some of the concerns we self-employed workers have, identifying those areas and how you and I can make improvements. Oh, yeah, I am not about to harp on the “tough economy” angle either—if you are still in business for yourself, you already understand that challenge.

Time Management – Are you making good use of your time? Easily, we can become distracted by the Internet as we do our work. There are freelancer forums, blogs, social media and networking sites and email to woo us away from what we do. Be honest with yourself: are you spending too much time socializing and not enough time writing for pay?

Equipment Upgrade – I finally tossed my Windows-based personal laptop and bought a Mac. Yes, I am now a Mac snob. Seriously, I made the decision to switch when it became evident that registry errors and the usual PC slowness was a major drag on what I do. No more anti-virus and crapware to deal with. I spent more time in the past month writing for pay and less time trying to coax broken Microsoft Windows to work.

Pay Scales – I have been working with a few clients for several years and still charge them the same rate. That is good for them, but not for me as my own costs have increased since then. Are your freelancing rates frozen? Is it time for you to begin raising them? You should be able to pass along a modest five-percent increase without a problem, but if you are aiming for ten percent or more, then be prepared to explain why. Perhaps there is an added benefit such as tweeting and stumbling published work that needs to be mentioned.

New Vistas – I am not going to say that print magazines are dead, but if you are spending an extraordinary amount of time sending out queries with very little to show for it, then it may be time for you to explore other options. I get more queries from potential clients than those I send out, which allows me to cherry-pick the ones I want. Still, if things are a bit slow I will swallow my pride and take on a gig just to keep my writing flow going and my income stream flowing. I still write for two print publications, but the lion’s share of my income is derived from on-line work.

Tax Management – Yes, I am still doing my own taxes. I cannot see that changing unless my tax picture suddenly becomes very complicated. I do not think that it will, but I am not taking any chances. I know when my quarterly federal taxes, corporate state filing and local privilege licenses are due or up for renewal, I can tap a separate bank account I fund for those payments. No more panicking in advance of a tax deadline to pull together monies owed.

Long Term – Funding for my personal retirement has taken a back seat to everything else in recent years, but that is about to change. I will still put money in my children’s education accounts and set aside other cash and finally get serious about a period in my life when work will not be the priority it is today. Honestly, I do not believe I will ever retire—I love to write—but, my flesh and bones may not be so cooperative in my latter years. Plus, it would be nice not to be so deadline-focused, writing just enough to make some money, but without the ever-present calendar with important dates circled in red in front of me.

Your Passion

Six months from now I will be taking a look at a year completed and laying the groundwork for the year to come. One point I did not mention is your personal passion for what you do. If it is gone, can you get it back? If not, might it be time for you to move on?

Freelancing Angst: When The Work Never Ends!

Far be it for me to say that someone is working too hard, but when I read an article this week in The Wall Street Journal (WSJ) detailing the endless work week that some freelancers are experiencing, I immediately thanked God that I wasn’t in their shoes. In, “For the Self-Employed, It’s an Endless Workweek,” the WSJ showcased an emerging trend among some freelancers who fearing the current job market, they cancel or shorten vacations; leave home fully connected with laptop, blackberry or cell phone nearby; or embrace some other behavior that leaves everyone else miserable and themselves tired.

I Work All Night I Work All Day…

Life can be like a ball and chain if you never get a break. But for some freelancers, work is a never ending quest as they worry about getting the next gig and paying their bills.

I’m not surprised that the trend to work all of the time has been emerging. After all, with work hard to come by and with more freelancers then ever to count among the competition, any delay getting back to a potential customer could mean lost business. Perhaps forever. People know that if you’re not available someone else is, especially if they’re looking to use you to work on a one-off project such as writing a press release, updating web content or helping them with a time sensitive marketing campaign.

But I have to say that if I worked as hard as some of these people do without taking a break, then something has to give. And that “give” would likely come in the form of harming my health; neglecting my wife and children; or simply failing to deliver my best work because I’m tired all of the time.

…To Pay The Bills I Have To Pay…

Last month, my family and I packed our stuff up and headed from our home in North Carolina to see family in New Jersey where we hail from. We left on a Thursday and returned on a Tuesday, a short trip but long enough for us to see just about everyone, including some relatives we hadn’t seen since our last trip back in 2006. Yes, I brought my laptop along and I had my cell phone on, but we still managed to have a good time as I limited my “work” to checking my email once in the morning and again in the evening.

Thankfully, there were no fires to put out and, even though I didn’t tell most of my current clients that I was going away, the one query I had was able to put off until the day after we returned. There is no way that I would have canceled the trip – I needed a break personally and our family needed to get away together. I returned refreshed and ready to tackle the world and as for my immediate family they were thrilled to reconnect with aunts, uncles and cousins they hadn’t seen in some time.

…Ain’t It Sad!

I’m of the mind that some work that can’t wait is not worth doing in the first place. I suppose that this is easy for me to say when my workload is heavy, as it has been throughout the year, but there comes a point when a few days of uninterrupted break is not only beneficial but necessary if you are to recharge your batteries and connect with family and friends without being permanently tethered to your work.

So, how about you? Have you been able to take a break yet this summer? If so, did you take a “working break” or did you manage to disconnect from your computer and connect with those whom you love?

Photo Credit: Jeff Prieb

Song Credit: Abba — Money! Money! Money!