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Just Answers - How to Make $50,000 in Your First Year as a Freelance Copywriter
When many think of freelancing, they think starving artist, low pay, no benefits, long hours, etc. However, it doesn’t have to be that way. Following are 6 steps to ensuring at least $50,000/year in your first year as a freelance copywriter.
1. Do the Numbers: Believing you can do it is the first part of the equation. Once you brea
1. Do the Numbers: Believing you can do it is the first part of the equation. Once you brea
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
k down the numbers, I’ll bet you’ll say, “That’s it? I can make that!”
So, $50,000/year divided by 52 weeks equals roughly $962/week. Easily achievable once you establish your going rate, which we’ll discuss a little later.
$962/week divided by 5 days (building in weekends off) equals roughly $192/day. Any determined person can make this
So, $50,000/year divided by 52 weeks equals roughly $962/week. Easily achievable once you establish your going rate, which we’ll discuss a little later.
$962/week divided by 5 days (building in weekends off) equals roughly $192/day. Any determined person can make this
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
And, if you pile on education, experience and the Internet, you should be saying to yourself, “This will be a breeze.”
It won’t, but you should at least be giddy at the realization that this is a more than achievable goal.
2. Charge Enough: Don’t go into freelancing with the attitude of I HAVE to take low-paying jobs. You don’t!
It won’t, but you should at least be giddy at the realization that this is a more than achievable goal.
2. Charge Enough: Don’t go into freelancing with the attitude of I HAVE to take low-paying jobs. You don’t!
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
y mother used to say, “How you begin is how you will end.” She wasn’t talking about jobs, but I take this advice to heart in almost everything I start.
A personal story: When I realized that I was going to run this year’s marathon (Thanksgiving Day, Atlanta, GA), one of the first things I did was print out a training schedule.
My
A personal story: When I realized that I was going to run this year’s marathon (Thanksgiving Day, Atlanta, GA), one of the first things I did was print out a training schedule.
My
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
oint: I took my goal seriously enough from the beginning and figured out what I needed to do to be ready. In the case of figuring out what to charge, this means figuring out how much you have to make each day, week, month to achieve your goal. With your goal clearly mapped out, you will be much less likely to stray.
So, let’s do some hard
So, let’s do some hard
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
numbers. Figure a 9-hour work day – in the beginning, you will much likely put in more than this (I never said it was going to be easy). That’s $21.33/hour you need to make.
When you consider that, on the low-end, professional copywriters make $50/hour, you can see how feasible it is to make $50,000 year. FYI, you may only spend 4 hours o
When you consider that, on the low-end, professional copywriters make $50/hour, you can see how feasible it is to make $50,000 year. FYI, you may only spend 4 hours o
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
a project, but 5 hours doing marketing work to bring in that project – but, it all evens out.
3. Target a Niche: The reason I believe in targeting a niche is that it is so much easier to promote your services – especially if you have some type of experience within that niche.
For example, I target realtors, mortgage brokers and i
3. Target a Niche: The reason I believe in targeting a niche is that it is so much easier to promote your services – especially if you have some type of experience within that niche.
For example, I target realtors, mortgage brokers and i
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
nsurance agents. In my professional career, I’ve been a real estate agent and a mortgage broker. These two industries get you highly familiar with the insurance industry.
No experience in your targeted niche? With the advent of the Internet, it is fairly easy to become knowledgeable enough about a sector to market to it.
How to Choose
No experience in your targeted niche? With the advent of the Internet, it is fairly easy to become knowledgeable enough about a sector to market to it.
How to Choose
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
a Profitable Niche
a) Pay: Not only do you want to target a niche, you want to target one that pays well. This usually means turning to the business community. Again, the Internet makes it easy to service clients worldwide – not just those in your community. So, don't let living in a small town scare you.
b) Plent
a) Pay: Not only do you want to target a niche, you want to target one that pays well. This usually means turning to the business community. Again, the Internet makes it easy to service clients worldwide – not just those in your community. So, don't let living in a small town scare you.
b) Plent
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
ful: Eg, there may not be enough organic gardeners to target, but real estate agents are vast and plentiful. Don’t have any ideas? Look through the Yellow Pages. Why? These are all the types of businesses you would find in any community. And, there may be businesses that you may never even have thought of in there who could use you
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
services.
c) Evergreen: Try to choose niches that are evergreen – eg, those that will be around forever. Lawyers, accountants, insurance agents, auto dealers – these types of businesses aren’t going anywhere. Once you establish yourself as an expert, getting business will be easier and easier. Notice, I didn’t say easy, I s
c) Evergreen: Try to choose niches that are evergreen – eg, those that will be around forever. Lawyers, accountants, insurance agents, auto dealers – these types of businesses aren’t going anywhere. Once you establish yourself as an expert, getting business will be easier and easier. Notice, I didn’t say easy, I s
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
id “easier.”
4. Prepare a Marketing Plan: It doesn’t have to be 30 pages. A basic one will do, eg:
Who: is your target market?
What: do they need? How will you reach them? This will also tell you where you will be spending the bulk of your ad dollars (online or off).
Where: as, in, what geographic area will
4. Prepare a Marketing Plan: It doesn’t have to be 30 pages. A basic one will do, eg:
Who: is your target market?
What: do they need? How will you reach them? This will also tell you where you will be spending the bulk of your ad dollars (online or off).
Where: as, in, what geographic area will
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
ou service (eg, will I target only a local market, or go national/international (eg, solicit business via the Internet?) )
When: is their season (eg, is it slow during the summer, busy during the fall, etc.)
Why: should they choose me (figure out your USP (Unique Selling Proposition))?
Put this where you can see it e
When: is their season (eg, is it slow during the summer, busy during the fall, etc.)
Why: should they choose me (figure out your USP (Unique Selling Proposition))?
Put this where you can see it e
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ery day. I break my marketing plan into quarters. At the beginning of each quarter, I map out what I should be doing on a weekly basis. Sometimes projects interfere and I may not complete everything on my list daily, but I try to get all scheduled tasks done within that week.
Don’t forget to figure in startup costs – eg, primarily
Don’t forget to figure in startup costs – eg, primarily
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
getting a website. A basic one will do. Just make sure that it is professional looking, grammatically correct and doesn’t have bells and whistles (eg, no flashing graphics). Most visitors will be looking for information – make it easy for them to get it.
A marketing schedule keeps you on point. Robert Collier, one of America’s original "
A marketing schedule keeps you on point. Robert Collier, one of America’s original "
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
uccess authors" said, “Success is the sum of small efforts, repeated day in and day out. . .” A marketing schedule does just this.
5. Prepare Your Marketing Material: Get a website, get a website, get a website – this should be one of the first things you do! I think websites have progressed to the point where telephones used to be
5. Prepare Your Marketing Material: Get a website, get a website, get a website – this should be one of the first things you do! I think websites have progressed to the point where telephones used to be
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
Ie, would you do business with someone who doesn’t have a phone? Probably not. Now, I think a lot of people feel that way about the internet. Further, how can you talk to someone about web copy if you don’t even have a website yourself? Ostensibly, this could be the only “promotional item” you need.
But, I would also do a basic introduc
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ory letter, a brochure, business cards (of course), a professional bio and a few samples. Don’t have samples? Do freebies until you get 5 or 6. All of this can be on your website.
Why different kinds of marketing material? Different situations call for different types of handouts. Eg, you may be at a Chamber of Commerce meeting one week (
Why different kinds of marketing material? Different situations call for different types of handouts. Eg, you may be at a Chamber of Commerce meeting one week (
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
ive out that brochure) and at the dry cleaners the next week (hand out business cards).
6. Implement & Follow Through -- Consistently: Many freelancers give up before they even begin. I look at freelancing as pushing a boulder up a hill – it’s hard going up (think of this as the ramp up of your business), but, once you get to the t
6. Implement & Follow Through -- Consistently: Many freelancers give up before they even begin. I look at freelancing as pushing a boulder up a hill – it’s hard going up (think of this as the ramp up of your business), but, once you get to the t
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
p, the ball rolls downhill by itself.
Freelancing won’t be that easy – and don’t believe anyone who tells you that it will. BUT, with sustainable effort, you will begin to get assignments, and then referrals will seem to come in effortlessly.
If you follow this plan, you should start to get assignments within 30-60 days. Good luck
Freelancing won’t be that easy – and don’t believe anyone who tells you that it will. BUT, with sustainable effort, you will begin to get assignments, and then referrals will seem to come in effortlessly.
If you follow this plan, you should start to get assignments within 30-60 days. Good luck
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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