Vanya Wryter Consulting Services

Tag: freelancing

  • 4 Types of Companies for Remote Work

    4 Types of Companies for Remote Work

    Updated from 2023

    Remote work has been around for as long as we’ve had the technology, but 2020 made work from home (WFH) a household word. Now, many startup companies offer remote work as a way to cut operating costs. Without a physical office, expenses are reduced. Remote work also offers many other advantages to certain types of companies. Let’s take a closer look at four types of companies that offer remote work.

    1 Technology Companies

    Technology companies (tech) are great for remote work because they tend to have the latest technology. Tech companies include software development companies, IT companies, companies that sell electronics, artificial intelligence or computers, and website development companies. These companies have the ability for their employees to communicate through virtual meetings and communications applications such as Slack. 

    During the pandemic, tech workers were more easily able to transition to performing work tasks from home, since the majority (if not all) of their tasks were completed using technology. 

    2 Customer Service Companies

    Customer service companies that offer services via online platforms, such as chatbots, are suitable for remote work. Customer service workers must be familiar with technology and have internet access to perform their tasks. Many businesses that hire customer service workers have customers from multiple time zones. To provide 24/7 service to these customers, they hire employees from different time zones to cover a wide range of work shifts. Similar to tech companies, customer service employees can communicate with supervisors or coworkers with communications software.

    3 Education Companies

    Education companies and companies that provide online education are perfect for remote work. These companies provide e-learning platforms for companies and educators. The course content is designed electronically, and IT programming is also handled online. Educators who use these platforms to design courses or offer tutoring work remotely to provide the content. The education is available at any time to anyone anywhere in the world with internet access. This form of education is especially handy for people who work during the day and take courses to upskill at night.

    4 Creative Agencies

    Creative agencies offer remote work for those interested in graphic design, advertising, marketing, and content creation. Work is completed through online collaboration and communication tools. Some agencies hire employees from the same city, while others hire freelancers from other cities in the same country or around the world.

    Key Takeaways

    Work from home has become possible because of the collaborative platforms and communication applications that we now have available to us. Many startups start as remote work companies, saving on the costs of having a physical office. In particular, companies that work with technology, customer service, and education, as well as creative agencies are well suited for remote work.

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  • Why Learn Financial Literacy From a Young Age

    Why Learn Financial Literacy From a Young Age

    In today’s unpredictable economy, financial literacy is more important than ever. Housing costs consist of a much bigger portion of our income than it did two generations ago. Yet, many young people graduate high school without understanding how to budget, invest, or manage debt. Even if students haven’t started their first job or applied for their first credit card, learning financial literacy early can set them up for lifelong success.

    Financial Literacy Prepares Young People for Real Life

    Schools teach math, science, and history, but they often overlook one of the most crucial subjects: money management. Understanding how to budget, save, and invest should be a fundamental part of education. Without these skills, young adults enter the workforce unprepared to handle their finances, leading to unnecessary debt and financial stress.

    If students learned about topics like interest, credit scores, responsible spending habits, and investment options, they would be better equipped to make informed financial decisions. This foundation would help prevent impulsive spending habits, which can have long-term consequences. Even if they don’t plan to invest, learning about investment options such as real estate, bitcoin, and stocks helps them avoid possible scams. They should also learn debt management, such as paying off credit cards, loans, and mortgages. 

    A Job Alone Is No Longer Enough

    Schools teach that the natural path in life is school, then a job, then financial stability. While having a steady income is important, today’s economy is more unpredictable than ever. Layoffs, automation, and economic downturns can make job security uncertain. Relying on a single income source can leave people vulnerable to financial hardships.

    This is why financial literacy should go beyond just budgeting and saving—it should also emphasize multiple streams of income. Schools should teach students about side hustles, investments, and ways to upskill without going back to school to provide financial security outside of traditional employment.

    Side Hustles and Alternative Career Paths Should Be Encouraged

    The traditional college route is no longer the only path to success. While higher education can be beneficial, it’s not the right choice for everyone. Many students would benefit from learning about trades, entrepreneurship, and freelancing as viable career options.

    Side hustles—such as finding a job and then finding your own clients for the work you do (such as graphic design) are an option. Starting a side business, such as reselling products, allow individuals to generate additional income. Likewise, trade careers in plumbing, electrical work, and construction offer high-paying opportunities. Schools should educate students on these options to help them make informed career choices.

    Key Takeaways

    Financial literacy should be taught at an early age. It provides students with the tools needed to navigate today’s economy, build wealth, and create financial security. Learning financial literacy prepares students for real-world financial challenges, ensuring they have the knowledge and skills needed to succeed in any economic climate.

  • Strategies to Deal with Writer’s Block and Some Humor to Help You Feel Good

    Strategies to Deal with Writer’s Block and Some Humor to Help You Feel Good

    This is not just another blog post about writer’s block. Writer’s block is a common issue for writers and of course, there are lots of tips out there on how to deal with it. If you’re a writer, you’ve probably looked for every bit of advice under the sun to see if you can find the ideal solution to unblock that block, break through that creative barrier, and get the words flowing again. 

    Well, this post does have some strategies to help you when you can’t think of what to write, but the big bonus is it also has some relatable moments. (Because that’s what you’re really here for, right?)

    1. Freewriting

    Too often, we become our own freelance editor when we are trying to write. You write several sentences and then the censor police in your head kicks in and has the overwhelming urge to delete  improve what you just wrote. Instead of worrying about what to say, just start writing anything that comes to mind. Set a timer for ten or fifteen minutes and let your thoughts spill out onto the page without censoring them. This method is one way to get past the mental block. Often, freewriting leads to unexpected ideas or topics you can explore further. I’ve tried this method before, and it often results in me writing several paragraphs of garbage I remove with one click of the highlight and delete key, but I have ended up with some good ideas.

    2. Write What’s On Your Mind

    Regardless of whether you’re writing a memoir, a blog, or a work of fantasy, your own life can be a source of ideas. What’s going on in your life? What are you thinking about? Your reactions to current events, your thoughts about a moment in your personal life, or your take on how an overheard conversation should end could spark an idea.

    3. Change Your Environment

    If you’re stuck, sometimes a simple change to your environment can help. Many writers I know go to coffee shops and hang out with writing friends to exchange ideas and just talk about writing or reading. A change of scenery, such as moving to another room to write, or going for a walk to get some fresh air can sharpen your focus. Of course, be prepared if your new environment isn’t the perfect place. (Some writers bring headphones and listen to music when they find the noise levels at a cafe too loud and distracting.)

    4. Read, Watch, or Listen to Something New

    If you’re struggling with ideas, get inspiration from other content. Read a book from a favorite author, listen to a podcast, or watch a show that interests you. I’ve read books while analyzing the writing style to see what I can learn from it. I’ve listened to music to awaken my imagination. It’s also inspiring to watch a movie for ideas (what storylines to learn from if the movie is good, what storylines to avoid if the show is bad), or watch a documentary as part of your research into a topic). Just be mindful of your time – it’s incredibly easy to lose yourself in a movie or a novel for hours. (Because it’s easier to watch stuff than to write stuff.)

    Key Takeaways

    Writer’s block doesn’t have to be permanent. Simple strategies like writing something, anything to get yourself going can get you back into writing mode. Looking for inspiration from various sources or different places can also trigger more ideas. Writing is not a straightforward process from start to finish; sometimes, you just need a little break (or block) to start writing again.

  • How to Negotiate and Secure a Retainer Fee with a Client

    How to Negotiate and Secure a Retainer Fee with a Client

    Repost from 2022

    Are you a freelancer or contractor constantly looking for new projects or clients? Do you have a roller-coaster income that changes from month to month?

    If your answer is yes, then consider negotiating for a monthly retainer. A retainer contract is an agreement between a freelancer and their client for ongoing, monthly services for a set fee. The client pays monthly for your services in advance.

    The benefit to the freelancer is consistent, guaranteed income. The benefit to the client is secured services with someone they can depend on.

    The client prefers to work with a freelancer or contractor with the needed skills, but finding a freelancer-client relationship that is the right fit takes time.

    Freelancers with a high-demand skillset and sharp negotiation skills know how to negotiate and secure retainer agreements with their ideal clients.

    Benefits of Retainers for Freelancers

    A tremendous benefit of a retainer fee is a guaranteed, steady income. Freelancers who work project after project face a lot of unpredictability with cash flow and budgeting.

    They need to negotiate a 25 percent or 50 percent downpayment at the start of a project and remember to request a final payment when a project is incomplete. When working with new clients on projects, they also deal with unpredictability. Bad clients might not pay on time or at all, citing bad freelancer work as an excuse to withhold their pay.

    With a retainer, the freelancer’s monthly income is stable. Instead of constantly searching for new clients and projects, you have more time and energy to dedicate to your retainer contracts. You aren’t frequently checking your bank account to ensure you have enough funds for unexpected expenses.

    Retainer contracts are similar to the steady income of having a job.

    Just how steady is a retainer fee income? If you have just three retainer clients, one paying you $3000 a month for services, another paying $2500, and a third paying $1500, you would have an income of $7000 at the start of each month.

    When you can focus your energy on providing quality services to ongoing clients, you can also build your reputation and take on more retainer work… if you have the time.

    Benefits for Clients Who Are on a Retainer

    Just like how freelancers enjoy the stability of a steady income, clients prefer the stability of reliable, high-quality services. It takes time for freelancers and clients to build rapport and find the perfect fit. A client likes to do things a certain way and prefers to find someone who understands their brand and their approach to projects.

    To close a client on signing a retainer agreement with you, you need to be clear about what benefits you are providing them. These benefits should match what they are looking for.

    They may need marketing services, website maintenance, content writing, or graphic design, to name just a few examples. They will expect their services to be delivered on time and at their desired quality.

    They anticipate you to be available for a specific number of hours per week or per month and dedicate your time to their projects and meeting their business goals.

    Unlike a per-project client, a retainer client won’t need to wait weeks or months until a highly skilled freelancer can work on a project with them.

    Another benefit you can offer a retainer client is extra value services, such as a few bonus hours of meetings, a report, free consultations, or a discount on a smaller, one-time project.

    When Should You Negotiate a Retainer with a Client?

    A client with an ongoing need for your services is a great candidate for a retainer agreement. For example, retainer clients may require services such as cold calling, daily social media engagement, or regular administrative assistance.

    You may have started with one project with the client and decided you both work well together. They value your work and see a need for you to continue providing services at a fixed budget on a monthly basis.

    You may have liked working with the client on the project:  they pay on time, are clear with expectations, and don’t micromanage your every decision. The logical next step is to propose a retainer fee for steady, ongoing work with this ideal client.

    On the other hand, proposing a retainer agreement with a new client can intimidate freelancers. You haven’t built any rapport with a new client. They haven’t seen your skills at work, and you don’t know if they would be a dream or hell to work with. Should you even suggest starting with a long-term partnership?

    One way to begin working with a new client is a short term project. For example, you build their website. Upon completing the project, you propose a retainer fee to assist with website maintenance and future IT issues.

    Another way is to find retainer clients through referrals. A new client recommended by one of your clients would be more likely to trust you before working with you. Similarly, you would be more likely to trust a new client if a client referred them to you.

    That referral will help you close a retainer agreement with a new client from day one.

    Why Should Clients Pre-Pay Before Seeing Results?

    From the freelancer’s point of view, clients who pre-pay are serious clients. You know they aren’t going to ask you to provide your services,  then disappear without paying. Also, if they pre-pay, you know they are invested in the results.

    However, before you pocket that pre-payment, you must convince them of your value. To do that, you first need to establish rapport with the new client and make them confident that you have the skills they are looking for.

    Have a portfolio of past work and a list of testimonials or references to show the client. Your portfolio should have examples of the skills they need.

    Be clear about what services and value you will provide, from monthly deliverables to monthly results. Show that you understand their pain points and how you will solve those challenges for them.

    Explain that a pre-payment is needed to reserve your time for them because you’re currently taking on new clients and have limited availability in your schedule.

    Common Objections to Monthly Retainers

    A new client may object to starting with a retainer agreement for many reasons. Find out what is holding them back.

    Are they unable to pay the price you are asking for? Are they concerned about your skills because they haven’t worked with you before? Or are they worried that you won’t deliver the results they want?

    If the concern is price, work with their budget and decide what you can offer them for that price. Some freelancers offer services at various pricing tiers. You can add more value to your services at the price point you agree on. For example, adding some hours of free consultation or additional services.

    If the concern is your skills and the results, suggest a paid trial period. At this point in the discussion, you’ve already shared with them samples of your past work and testimonials from clients. They’ve seen your skills, and you can negotiate your value for your price.

    Emphasize that with a retainer, a set number of hours each month of your time is dedicated to providing services to that specific client. They will have peace of mind if they need work completed on time.

    Steps to Follow to Close Your Client on a Retainer Agreement

    Closing a current or new client on a monthly payment model can be done in person or online. It may be easier to close a client in person because you can build rapport and trust first. However, with the global economy and remote work, it’s also possible to close a client in another city.

    First, introduce the idea of a retainer agreement at your in-person or virtual meeting. This can also be done over the phone but with fewer visual cues. (Some people find it easier to judge a client’s reactions based on facial expression and body language, not just verbal cues.)

    Then, clarify the details by email and written contract. Some points to cover:

    • Meet with the person who will make the final decision on the retainer agreement details.
    • Discuss what they think your expected deliverables, volume of work, and expected results will be. What are the client’s goals? Be prepared to discuss the value of having a retainer agreement.
    • Confirm what monthly services you will offer and suggest additional services that you may provide.
    • Discuss your flat monthly fee for these services. If you have a package of services that you offer at tiers, share these offers. For example, Tier 1 is $1000 for x, y, z services, and Tier 2 is $2000 a month for x, y, z, and a.
    • Explain how a retainer agreement works and include the benefits of having a retainer agreement.
    • Follow up with an email proposal with your rates and retainer options. Include any add-on services. Set a date for the follow up on your proposal. Then formalize a retainer contract for yourself and your client to sign.

    How to Keep Your Retained Clients Happy

    Managing expectations keeps both clients and freelancers happy. When you’re working on the details for your retainer agreement, clarify what you expect from each other.

    For yourself: What day of the month do you expect to receive your monthly retainer? What is the specific amount you’ll be paid? How will you be paid? For example, through an app, etransfer, or third party service?

    For your client: What deliverables will they receive? What results will they see? If they aren’t detail-oriented and don’t track results, you can keep track of that data for them. Report on your progress and results. Have you met the monthly goals set out in your contract?

    Keeping a record of what you’ve accomplished for your client demonstrates your accountability. It’s also effective when you need to raise your rates because you can show that you are worth the value you deliver.

    Also, your happy client is more likely to provide testimonials and refer other clients to you. Negotiating retainers with a referral is much easier than a cold lead who knows little about your skills and value.

    Key Takeaways

    Negotiating a monthly retainer agreement is the best payment model for a steady income for freelancers and contractors.

    You benefit from regular cash flow, so you can focus on providing value to your clients instead of constantly looking for new projects and clients.

    Clients prefer to work long-term with someone they trust who provides the value and skills they need to meet their business objectives.

    You can negotiate a retainer agreement with an existing client after the end of a project. Or you can negotiate a retainer agreement with a new client on a trial basis.

    Continue to provide value and reliable service to your retained clients. Keep them updated on your progress and results. In the long term, you will have a reliable income and your clients will have the value and skills they can trust.

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  • 3 Ways to Increase Your Income If You’re Self-Employed

    3 Ways to Increase Your Income If You’re Self-Employed

    Repost

    One of the biggest challenges of being self-employed is doing everything yourself, from the actual work to accounting to marketing your business. Eventually, the self-employed want to become successful enough to get a steady workflow and make their ideal income.

    Some self-employed freelancers or business owners stop there, but others want to reach higher. Their reputation is established, and they are getting so much business that they cannot do all the work themselves. Here is an opportunity to double or triple their yearly income.

    Eventually, instead of being a one-person business running every department, they might hire employees. However, some business owners may want to avoid the headache of managing several people. They may wish to continue as an independent freelancer.

    Hiring employees isn’t the only option for increasing one’s income, although it is the first one that comes to mind. Here are three ways to increase your income if you’re self-employed and the pros and cons of each method.

    1 Hire employees

    You’ve always wanted to become your own boss. That’s why you started your own company and became self-employed. The next step is to scale up your company by hiring employees.

    Pros

    Depending on the nature and size of your business, you could step back and hire people with the right expertise to manage the company. You could hire an accountant and human resources person. Or you could continue with a hands-on role in the company.

    When you hire employees, you have resources dedicated to completing your work. You control their time and schedule because they signed a contract to work part-time or full-time, at specific hours of the day for you. If they want time off, they must let you know first.

    Having a dedicated team allows your business to scale. You can provide the same services you did before or add more services now that you have the cash flow and resources to hire experts to provide those services.

    Cons

    Once you hire employees, you are expected to provide a specific number of work hours for your employees each month. It becomes more crucial that your lead flow is steady to ensure you continue to operate at a profit.

    You’ll have more management details to look after. Whether you manage your business yourself or hire someone, you will deal with work contracts, tracking employee hours and pay, and other details related to human resources and taxes.

    2 Subcontract your work

    It’s a wonderful milestone in your career when you have so many clients that you can pick and choose which ones to keep by raising your rates or ending contracts. However, you may want to keep all your existing clients and add new ones instead of turning them away.

    One way to scale up your business is to work with subcontractors. For example, if you write articles for your clients, subcontract your work to writers who are building their portfolios and writing experience.

    Pros

    You can take on more clients and work assignments by working with subcontractors. They provide the same service as you so, in a way, you are duplicating yourself. You charge your clients your usual rate, keep a percentage as a management fee, and use the remainder to pay your subcontractors.

    If you enjoy management, you will coordinate what assignments need to be done, which subcontractor needs to complete them, and get the assignments to the client on time.

    Cons

    Most likely, your subcontractors are developing their writing experience or don’t have steady clients themselves. Part of your time is spent managing their work, from assigning to checking what they do. If you dislike management, you could hire someone to look after these details.

    Another challenge is if the subcontractor’s work isn’t up to standard, you’ll find a lot of your time is spent editing their work. However, when your subcontractor gains more experience over time, they will charge higher rates and want to work directly with their own clients.

    3 Collaborate with businesses that offer complementary services

    You are highly talented at what you do, but what if your clients need services related to what you do – but are beyond what you offer? For example, you offer writing services and you notice that your clients often want graphic design as well. You could become a jack of all trades. Or you could start an agency or hire employees.

    Another option is to collaborate with other freelancers or business owners who offer services that complement yours. Partner up with a graphic designer or website designer so your clients can find the services they need in “one place” instead of looking for them independently. When you refer a client to your collaboration partners, you get a commission based on a percentage or rate that you’ve both agreed upon.

    Pros

    If you’re very talented but building up your clientele as a freelancer, working with successful collaboration partners will help to get you clients. Their clients already trust them, so they extend that trust when they refer business to you.

    Whether you’re referring or receiving business, this partnership expands the services you can offer to your clients without learning those skills yourself. You also can handle learning how to manage a company or employees.

    Cons

    The relationship relies on a certain degree of trust. When you refer a client to a collaboration partner, the client’s trust in you is on the line. If that partner provides the quality of service your client expects, your reputation will also be protected.

    Another challenge is your partner’s availability. They may not be available when your client needs their service. When that happens, your client may work with another service provider so you won’t get a commission.

    Accounting is also a consideration. You’ll need to figure out how much commission (or referral fee) to give your partner for each contract and how to keep track of those amounts.

    Key Takeaways

    It’s a sign of success to face this decision: turn away clients or keep accepting new ones although you don’t have enough hours in the day to do the work. At this point, you can scale your business by hiring employees or subcontractors. Or, you can rely on your client’s trust in your reputation to recommend them to your collaborator partners. Any of these choices can increase your income and your ability to provide more to your clients.  

    Related posts:
    How to Negotiate and Secure a Retainer Fee with a Client
    Work-Life Balance: Enjoying Your Job

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