All freelancers have gaps between projects. Some bigger than others. If you’re a freelancer I imagine you know these well. You attempt to save a buffer of cash to pay the bills in anticipation for these times. But it can only take an unexpected cost to throw a spanner in the works and have you a little more flustered than normal.
Thanks to some advice from one of my mentors, the late Graham Wiseman I feel I can ride out these lulls. He told me as a photographer to always keep three months of cash in the bank and forget about it. Then even if the well paying work isn’t coming in, do what you can for what you can.
Recently I decided to experiment with subscription models. Patreon confused me. As did ServiceBot. So I took a look at Substack.
I’m glad I decided to focus on the writing part of what I do because this has sustained me recently. Not financially. That’s the dream. But mentally and intellectually.
It’s still early days, but I have a handful of paying subscribers and my newsletter brings in around £200/month. This works out about £5/hour while I write the four issues a week. Writing does not come naturally to me and each issue takes me about 8 to 10 hours. But with every new paying subscriber I get a tiny pay rise. Thank you.
I have a love/hate relationship with subscription models but can’t fail to see how valuable they can be to a freelancer. Especially the hand-to-mouth kind. Subscriptions are also chunk of my regular monthly outgoings and I’m happy with my choices. I have a coffee, data, entertainment and online and offline news subscriptions.
I think it’s harder for people to see why paying for content might be a good thing with so much of the free stuff about.
Still, I enjoy writing stories and sharing links this way. The more subscribers the more value I can comfortably offer. Is any of this sustainable? You tell me. Maybe you have managed it without selling your soul or burning out. I hope so. For me this is fun at the moment. And long may it stay that way.
Of course there is a link here and at the bottom should you like to support my work. But there is also a free subscription for those unable to.
These are my condensed thoughts (copied from my newsletter) as to why I think it’s good to pay for content:
- It can save you screen time.
Let me make my corner of the internet accessible to you. The links I find, reviews I write and stories I share. All in one place. If you only read one email this week make it mine.
- Invest in a credible source.
I don’t have to be some stranger on the web telling you stuff. As much as I hope you question everything you read, get to know me and my motivations. Interact and discuss these topics with me. Correct me if I err. Let’s learn and grow together.
- Value
I share more content in a single newsletter that we could possible explore over a single beer. Yet for less than the price of a beer you get four weekly instalments. Then there is the content that is not posted everywhere else. The invitations to retreats, meet-ups and events specifically for paying subscribers.
- Belong
As you are supporting an independent writer and content creator, you are a part of a community of like minded individuals. Ask to join the backchannel and network with others. Meet at events or connect through the newsletter by sharing ideas.
- Enjoy a certain style
If you love learning like me, love learning with me. I spend a lot of time curating the content I share to my newsletter and do so with a voice I hope ties everything together. But my funds are limited like my time. If I had unlimited funds I’d do this more. Your support means a lot to me.
If you want to know more I’m @Documentally on Twitter. Although I’m mostly sharing to my newsletter. Obvs. Cheers!
It’s a great idea to have 3 months cash in hand. I wish I had have had that wisdom back when this was my lifestyle, it may have made things a little easier.
BT… I love that T-shirt. It’s how I feel even with the things I’m supposed to be professional at.
Thanks Ian, it’s a running top and it celebrates the fun passion and enjoyment amateurs have in their endeavours before money starts getting in the way 🙂
We are all familiar with those breaks in this line of work. That’s why we spend money as if we were between contracts even when we are working. I sometimes save from half to two thirds or more of what I earn in anticipation of the lean times.
Yep. I do the same. I stick it in an account called ‘for the taxman’. Then at the end of the year am able to invest in some new technology.
Good to see your still keeping on keeping on
Yes I am. You too? The newsletter is mostly free if you want to keep in touch. 🙂