As a freelance writer I only make any money when I am writing for other people… and they pay me. Cashflow is always a balancing act in any business and none more so in the writing game. Ghostwriting/co-writing a 60,000 word novel can take months and you don’t usually get paid up front. Getting paid is the key, of course. I know very good writers who have full order books and work 12-14 hours a day but forget to put enough focus on getting paid for all their hard work.
At the moment I have two ghostwriting projects that I hope to complete before the end of October and get paid for… which should carry us over the Christmas-January period which is always pretty slow. I have two or three regular gigs writing articles for web sites and the tutoring but the college lecturing has fallen flat this year. It seems fewer people are enrolling in community college courses all round, not just the ones I offer. Fortunately having several income irons in the fire helps to flatten out the cashflow peaks and troughs.
When it comes to what I call ‘investment writing’, those books and publications I write for myself as the client in the hope they sell down the track (what most people refer to as writing a book, being an author etc); I have several projects still bubbling away on the back burners. The trip to Malaysia and the Philippines in April still needs to be written up as do the many story ideas that were generated by having flip flops on the ground over there. I have a couple of books that need editing, re-writing, up-dating and re-publishing, not to mention lots of web site maintenance. A writer’s work is never done!