Tips For Freelance Writers- How To Compose A Business Plan Properly
One of the most rewarding careers that you can have is to become a freelance writer. You can make your own schedule and finally get out of a business what you put into it. Freelance writers don’t work for an agency and work on a contract to contract basis for the most part. They get paid for the assignments they complete. One way to help ensure your success is to create a business plan.
You have to treat your business like any other new business and create a business plan. Your business plan will identify the things that you want to focus on and find ways to make these things a reality. Creating a solid business plan is one of the best ways to create a focus in line with the company’s goals. Your plan should include different parts which are:
- Executive Summary
- Business Description
- Market strategies
- Competitive analysis
This should express what the owners want out of a business. What are you trying to accomplish by creating this company?
Begin with a description of your industry and how you fit in it now and in the future. You can also discuss the markets that will affect the market.
Conduct a market analysis to learn all of the aspects of your market so that you can find your target market and position yourself with that market.
The purpose of this section is to define your strengths and weaknesses of the major competitors. This should be very general because as a freelance writer there are many competitors. You will want to determine the strengths of the ones that you notice bidding on the same jobs as you are bidding on or even the ones that are chosen after you. Check out their profile to get the information that you need.
Many business plans will contain other sections that look at the design of the product that a company is trying to sell along with financial information for that company. These are not things that you need to worry about. You can add a section that describes the strategies that you plan to use to put yourself in an advantage over your competitors. This could include everything from marketing tools to how you will bid projects.
Having a business plan is important. You have to treat your freelance writing as a business.