The Blog

Grab a drink and sidle up to the table: Molly's best tips for freelance editors and nonfiction writers are here for your perusing pleasure. Join the word nerd party!

The Blog

Grab a drink and sidle up to the table: Molly's best and brightest tips for freelance editors and nonfiction writers are here for your perusing pleasure. Join the word nerd party!

Freelancer Finance, Part 4: Making Sense of Billable vs. Non-Billable Hours editorial business topics

In the previous installment of this freelancer finance series, which argued against the feast-or-famine mentality, I mentioned that I work a maximum of 25 billable hours a week. A colleague asked how I divvy up my non-billable hours, which was an excellent question that also hinted at a common source of confusion: what tasks are considered non-billable, and why do they matter to us as...

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Freelancer Finance, Part 3: Why It’s Time to Drop the “Feast or Famine” Mentality editorial business topics

I’ll come right out and say it: I’m not a fan of the term “feast or famine” when it comes to freelancer finance.

All the other terms we use to describe the ever-changing nature of the freelance money cycle—peaks and valleys, rise and fall, ups and downs, ebb and flow, highs and lows—use the word “and,” not “or.” This gives them more of...

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Freelancer Finance, Part 2: How to Better Manage Your Freelance Income editorial business topics

Even though my freelance editorial business was technically profitable within a year, it took me three more years to start paying myself a regular salary. Sure, I would take draws to pay personal expenses, but they were minimal and erratic. I was reinvesting and saving as much as I possibly could—a fear-based reaction to being a freelancer.

I had the financial security of knowing my...

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Freelancer Finance, Part 1: What Is Your Actual Income? editorial business topics

When I was working for a company, I knew my salary off the top of my head. But when I started my own freelance editorial business, things got a lot more confusing.

Even though I did my own taxes for years and thought I had a solid understanding of my LLC’s finances, I still preferred to think of my income as the company’s revenue, instead of what I was actually able to pay myself.

...

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The Pros and Cons of Asking, “What Should I Charge?” editorial business topics

In my last post, I gave some tips on what to do when someone asks, “What’s your rate?” This time, I’d like to address that dreaded question’s (sometimes evil) twin: “What should I charge?”

If you’re a member of almost any Facebook or LinkedIn group for editorial freelancers, you see this question come up on a regular basis (daily, in some groups)....

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What to Do When Someone Asks, “What’s Your Rate?” editorial business topics

Imagine a scenario, if you will. You’re at a networking event for entrepreneurs and freelancers, and you start talking with someone in a different industry. They ask you what you do, and here’s how the exchange often goes from there:

“I’m an editor.”

“How cool! What kinds of things do you edit?”

“Fiction and nonfiction books, mostly, but I also...

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Are You Charging What You're Worth?

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