One of the most difficult skills to learn as a full-time freelancer writer doesn't have anything to do with writing. It has to do with managing your cash flow.
An (oxymoron alert) economically successful freelancer (/oxymoron alert) needs to think about income at least 90 days in advance. That is, he or she should know where the money is coming from in 90 days. To avoid cash crunches the writer needs to plan that far out.
This isn't easy. Freelance income is variable and the natural tendency is to concentrate on what's happening now, from the assignments you're working on to the money coming in the door. But it's a vitally necessary skill.
Wednesday, February 25, 2009
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