Hi Folks,
If this has already been covered, kindly point me to that conversation:
I want to know how I can transform my freelance writing side hustle into an actual business. I'm making decent money as it is but it's a lot of ongoing work...
For the last 1.5 years I've been doing some freelance writing, mostly writing business plans, marketing strategies, proposals, etc. In the early stages, a lot of my work was through UpWork, which takes a whopping 10-20% of my earnings. Luckily, after the first year, I was able to persuade 2 clients to go "off-platform" and sign a contract with me directly. Now I'm earning between $500 and $1000 per month with some ongoing business writing work and keeping 97% of my earnings (-3% for PayPal fees).
In general, I make between $25-40 per hour depending on the project, which is fine but I know I could be earning much more. I thought about drafting business plan templates across multiple industries and selling them to entrepreneurs and start-ups online but this has been done. I'm not sure I can compete with other players in this market (there are many).
Does anybody else do this work? If so, have you been able to transition your skills into products you can sell online?