Five steps to increase your freelancing profits

Save time and make money with these tips.

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3. Diversify your portfolio

Stout expands his repertoire because it’s essential for professional survival: “When you start getting narrower and smaller, that’s when it gets really, really difficult.”

“It’s making sure you’re in the mix and making sure you don’t get overlooked,” he adds. It’s about “trying to establish some presence in a variety of fields and showing that you don’t always just pull the ball. You know how to do other things.”

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Widening your scope applies to whatever you’re working on. “Look at the multiple facets of the assignment,” Moran says. “When you are on a call with an interesting source, maybe ask that additional question. So, what else is happening in the market? What else is going on in your field of work that’s interesting to you? That might yield a nugget of a new idea that you can then pitch to somebody else.” Can different tips be highlighted? Where did this source go to school?

D’Agnese advises writers to examine their contracts and retain as many rights to the articles they’ve written as possible. Those pieces can be repackaged and resold, adds D’Agnese, who self-published a collection of his science pieces.

“You want to be able to increase and possibly make an income on those articles long after they’ve appeared the first time, so your selling your work again to a new audience is upping your ROI,” he says.