When it comes to your writing business, you are the Chief Executive Officer. It’s that simple. You set policies, decide how you’re going to reach your goals and make sure that your business is doing exactly what you need it to do. Making sure that you handle the responsibilities of a writing CEO can make a world of difference in just how well you do. Just because your business is made up of just you doesn’t mean that you shouldn’t take your position as the head of your business seriously.
So, what are your duties as a freelance writing CEO?
- Set goals and decide how to reach them. Whether those goals are a certain level of income or a certain number of bylines, having a strategy that makes them possible is well worth your time.
- Identify the biggest opportunities and problems in a business — and handle them. It’s possible for a writer to struggle with the business side of freelancing, and it’s crucial that you are up to the opportunities coming your way and able to eliminate the problems that face each of us.
- Make sure that all financial statements are current. From invoices to time-tracking, taking time to update and review your financial statements offers a chance to make sure that you’re on track for your goals.
- Ensure that your business complies with the law. It’s pretty easy for a freelancer to fly under the radar when it comes to local business licenses and even bigger obligations like taxes — often because we’re not always aware that those obligations are out there. It’s up to you to check out just what the requirements for operating a business in your city or state are.
- Decide on expansions. Do you focus in one particular niche or on a very specific type of writing? It’s up to you to consider if (and when) to expand to other niches or types of writing. This can include doing some heavy-duty research into what you’re making, and what other writers are making from these other opportunities.
- Know the competition. While many freelance writers don’t compete in the ways that big corporations might, it’s still important to have a good grasp on the big names in your niche and area. They can be resources and a support network just as easily as competition.
- Decide whether to delegate. If your business is growing, it can make sense to hand some tasks or projects over to other people. Maybe you want a bookkeeper to handle your books or another writer to handle some of your article-writing.