The 4 Parts of a Successful Freelance Writing Business
“I credit my success not to my ability to gather wealth, but to my ability to gather great ideas.” — Albert Einstein
When I was working on my Bachelor of Science degree in Business Management some years ago I came across a concept that highlights the four parts of a successful business.
As I began going through that particular course and reviewing all the examples the textbook showed in reference to traditional businesses, I began to see some principles and ideas that were very similar to that of running a freelance writing business.
For example, if you are going to run a traditional business, you have to have a product. And in order to have a product you have to have a department or team that develops and produces that product — The Production Department.
In addition to a Production Department, you are going to need a Financial Department. It is the financial department’s goal to keep the business above water and to stay within budget.
Moreover, included with those two departments, a Marketing and Customer Service Department are essential to the success of any traditional business.
I‘m sure if you were to sit and evaluate just about every company you do business with on a day-to-day basis, you would find that each one has these four departments in operation in some form or fashion.
When it comes to running a freelance writing business, even though there are some differences in business operations, the fact is to succeed in our type of business we too need to have these four departments running effectively.
The following is what these four departments would look like in a freelance writing business:
1) Production Department — Researching, writing and editing, producing products such as books, eBooks, courses, audios, etc.
2) Financing Department — Securing (or making money) and efficiently using money earned to further develop our writing business
3) Marketing Department –How to acquire clients (customer acquisition)