Words on the Page

a freelance writing resource.

Monthly Assessment: March 2014

What’s on the iPod: How to Save a Life by The Fray

I don’t remember blinking for that long. March is really over? Crazy, but here we are in April.

I spent the weekend driving back home (300 miles/5 hours each way) for a bridal shower, then driving back in a snowstorm that ended 100 miles from home. Alas, it turned into torrential rain for the rest of the drive. It wasn’t until we got off the turnpike that it stopped. Since my daughter was with me and she doesn’t drive my car all that often, I did the driving. Is there anything more exhausting that a five-hour drive that’s extended to nearly six (thanks to lousy weather)?

Then there was the wind. I drive a heavy car — a Saab. But a few times, the wind was so strong, I fought to keep it on the highway. One gust nearly pushed me into a car beside me. Not fun.

After all that, I’m back at it today. It’s also a new month — time for an assessment of how the business is doing. Let me get to it now and get it over with (does that tell you how it went?):

Queries:
I sent out six. Of them, only one responded. I don’t expect to hear from the others, but the ideas will be recycled in about two months. That’s enough time to let the first contacts consider them. I don’t wait for formal rejections because so few people bother with the courtesy anymore. They can’t — they’re short-staffed and overworked.

LOIs:
I’ve sent out 48 LOIs this month, and received eight immediate inquiries. Usually on follow-up I get a few more conversations going, but eight responses is not bad for a new market. One conversation happened in email already (I suspect I’m not within budget), and a few more are about to occur.

Social media:
I made 20 new connections on LinkedIn. I may have said it before, but I don’t push a sale when I’m connecting. I make a connection and focus on getting to know people. I consider this my relationship-building exercise. The more people you know, the better for all sorts of reasons, right?

Existing clients:
My tried-and-true clients kept me working this month. One long-time client sent projects my way and is talking about long-term, ongoing projects. I’d contacted five other existing clients to no avail (though there are two projects that should be coming in the end of this month), but something even nicer happened. Last week, a number of existing clients I hadn’t contacted got in touch. Now I have more work than I could imagine going into this month – I have four new article assignments. My quota for April is already met, and I have work for June, as well.

New clients:
Aside from one inquiry yesterday, I haven’t contracted with anyone new. Yet. Optimism is essential to freelance writing, isn’t it?

Earnings:
Despite all the projects hitting my desk last week, earnings this month were dismal. My February marketing, which should have brought in work, didn’t generate much. I’m about 40 percent off my goal. However, I think I’ll more than make up for it this month.

Bottom line:
So far, the marketing focus in the new industry is showing promise, but nothing concrete. The marketing I’m doing is working, so I’ll push forward with it. Also, I have a new marketing process in the works and as soon as I get time, I’ll sort it (hopefully this weekend). For now, the article market is where the work is, but I’m seeing much interest in corporate projects again. That’s good. By October, magazine budgets are scarce. Time to line up other avenues.

Did you do okay in March? 
What’s your outlook for April?

18 responses to “Monthly Assessment: March 2014”

  1. Cathy Miller Avatar

    I feel your pain, Lori. March was my lowest income of the quarter.

    I have a lot of irons in the fire and prospects that I think will definitely come through. It's just getting them to move off the mark.

    Thank goodness for my existing clients who keep me going. I have a call today to discuss a 2nd project in addition to one I am currently working on for an existing client.

    I did quite a bit of marketing – postcards/email campaigns. I've had a few contacts, asking for resume and samples.

    April is shaping up much better. And the good news is I was able to work on my new site.

    Also I am glad to have taxes filed and behind me. Little victories.

  2. Lori Widmer Avatar

    Little victories work, Cathy. They often lead to bigger ones. 🙂

    Like you, I have irons in the fire. My prediction — no, my guarantee — is that all the work will arrive a week before my daughter's wedding, or within days of it (and with short deadlines, of course). Isn't it always the case that the minute you plan to be out of the office, the work piles in?

  3. Devon Ellington Avatar

    I sent out fewer LOIs, but got a better response. I had some nice returning clients, some good new clients.

    Most of the focus in March and now for April will be the play, but I'm starting a new part-time gig that should last until December that will give me some stability.

    I have three novellas and a novel coming out between April and August, another book to write for the same publisher, and two other novels I'm juggling.

  4. Lori Widmer Avatar

    Nice juggling, Devon! Sounds like you've found your sweet spot.

  5. Eileen Avatar

    I am taking a page from your book, Lori, and planning to send out LOIs. Yep, LOIs, not lumpy mail. I work with a coach and she suggested that I have enough expertise and the portfolio so that I don't need lumpy mail with a soft offer (special report).

    I have a retainer client that I suspect I may lose and so even though I have not directly marketed in several years, now is the time. I am painstakingly building a prospect list — it's taken me about 12 hours to assemble a list of 30 viable companies in my industry (because I'm very picky) and I will get my virtual assistant to call for contact names. Your 48 LOIs in one month is an inspiration.

  6. Lori Widmer Avatar

    Note going out to you, Eileen. I may have an idea that will help.

  7. Paula Avatar

    Ugh. March. At least I'm not alone with it being my lowest income of the quarter.

    Queries: Sent large batch of ideas and one single query. The single query was assigned immediately and I had it turned in within one week. (It was a short single-source piece).

    LOIs – Sent five new LOIs and followed up on three prior LOIs. (One editor replied saying they don't have any freelance work at this time but will keep me in mind. I know she will, we've known each other forever.)

    Listings – I actually replied to three listings. Two were in my niche markets, the other was a listing from a market a publicist friend knows well.

    Social Media – I'm not really tracking it, but I know I added at least one new LinkedIn connection.

    Existing clients: Turned in that quick article for Favorite Editor; wrote four columns; finally wrapped a slow going education article; completed 36 listings for one trade and almost immediately picked up 21 similar listings for another trade.

    No new clients.

    Earnings: Less than half of my goal. This really hurts now since I owe more to Uncle Sam than I thought I did. It's going to be really tight here a couple months until I can rebuild some savings…so I can turn around and spend it on property taxes. Ugh.

    Bottom Line: While I was extremely busy throughout March, most of that income hasn't arrived yet. I'm hoping my targeted LOIs and follow ups will begin paying off, but I also plan to send more queries soon.

  8. Jennifer Mattern Avatar

    It sounds like April is shaping up to be a great month Lori! 🙂

  9. Eileen Avatar

    @Paula, about owing the tax man – I've found a system that works for me and may be helpful for you. I set aside a fixed percentage of every single check that comes in. It's a rule I never violate. When quarterly tax bills are due, it's all there.

  10. Lori Widmer Avatar

    Paula, you have company with March sucking at least.

    It will be, Jenn. Let's hope the checks come in sooner rather than later — I have a wedding to help with!

  11. Paula Avatar

    That's always my goal, Eileen.

    But last April the costly cleanup from a flooded basement (complete with blocked sewer line) wasn't covered by my home owners insurance – that cost more than 10% of my income for the first and second quarters. Decimated the savings I'd set aside for taxes. And then the giant tree limb fell on the garage…that would have been covered but cost less than my $1700 homeowner's deductible.

  12. Eileen Avatar

    Paula – ouch and double ouch. Sometimes you have to wonder, what the heck good is insurance when it's not there for the pricey stuff?

  13. Devon Ellington Avatar

    Yeah, March was definitely low income. I've also updated my author services page:
    http://www.fearlessink.com/authors.html to reflect my policies on same-day turnarounds and on-call, because I've had some nasty exchanges with people who don't want to pay, but expect me to drop everything because they're disorganized.

    Um, no.

  14. Paula Avatar

    Now I need to ask: Didn't anyone have a great March in terms of income?

  15. Lori Widmer Avatar

    Not a bad idea, Devon. I don't mind a rush job, but clients do have to understand that my working overtime (which often I'm forced to do with rush jobs) has to be compensated.

  16. Gabriella F. Avatar
    Gabriella F.

    Hi all.

    I don't know how I did it, but my March was pretty decent. I'm glad to be the outlier on this one, though I'm not doing anything differently than all you talented souls.

    My April's on track to be busy, too. Good thing because, like Paula, tax time is painful. I always have the money set aside for it, but it's just a gut punch to see savings take a hit. HATE IT!

    Can I mention one other positive for me? I edit this weekly e-newsletter for a client, and it's a good, solid monthly income generator. But this horrid woman was my "boss," and she was just awful to work with. Not as smart as she thought she was and wholly imperious.

    SHE LEFT! Booyah!

    That, my friends, has made March all the more "rich" for me!

  17. Eileen Avatar

    My March was great. Steady retainer work, which comprises the bulk of my income, plus another large-ish project with a nice hefty fee. So I'm a happy camper. But with two kids needing help with tuition, and two teenagers needing vehicles, it's going out the door as fast as it comes in.

  18. Lori Widmer Avatar

    Booyah indeed, Gabriella! Now you can breathe.

    Eileen, it's great to have it though, isn't it? My daughter's wedding is in June, and there are bills to be paid. I'm working feverishly to fill the bank account now.

Leave a Reply

Your email address will not be published. Required fields are marked *